PETROCHINA(00857)2025-04-29 08:40Financial Performance - The operating revenue for the reporting period was RMB 753,108 million, a decrease of 7.3% compared to the previous year[4]. - The net profit attributable to shareholders of the parent company was RMB 46,809 million, reflecting a 2.3% increase year-on-year[4]. - The net cash flow from operating activities increased by 25.3% to RMB 139,436 million compared to the previous year[4]. - The basic and diluted earnings per share were both RMB 0.26, up 2.3% from the previous year[4]. - The return on equity was 3.0%, a decrease of 0.1 percentage points compared to the previous year[4]. - Net profit for the three months ending March 31, 2025, was RMB 51,885 million, compared to RMB 51,366 million for the same period in 2024, representing a growth of 1.0%[35]. - Operating revenue decreased to RMB 753,108 million from RMB 812,801 million, a decline of approximately 7.3% year-over-year[35]. - The company reported a total comprehensive income of RMB 53,164 million for the first quarter of 2025, compared to RMB 49,105 million in the same quarter of 2024, an increase of approximately 8.3%[35]. - The company achieved an operating profit of RMB 5.043 billion from sales, down RMB 1.720 billion from RMB 6.763 billion year-on-year[22]. - The operating profit for the oil and gas and new energy segment was RMB 46,093 million, up from RMB 43,077 million in the same period of 2024, reflecting an increase of approximately 7.0%[46]. Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 2,841,230 million, representing a 3.2% increase from the previous year[4]. - The company's total liabilities increased to RMB 1,077,428 million from RMB 1,043,144 million, an increase of about 3.3%[29]. - The total equity attributable to shareholders rose to RMB 1,564,643 million from RMB 1,515,371 million, reflecting an increase of approximately 3.2%[29]. - As of March 31, 2025, total assets increased to RMB 2,841,484 million from RMB 2,753,007 million as of December 31, 2024, reflecting a growth of approximately 3.2%[27]. - The company's total equity increased to RMB 1,763,818 million as of March 31, 2025, compared to RMB 1,709,623 million at the end of 2024[43]. - The company's non-current assets totaled RMB 2,152,207 million as of March 31, 2025, slightly down from RMB 2,161,907 million at the end of 2024[43]. Production and Sales - The company reported a total oil and gas equivalent production of 467.0 million barrels, a 0.7% increase from 463.7 million barrels year-on-year[15]. - Domestic oil and gas equivalent production reached 418.1 million barrels, up 1.2% from 413.0 million barrels in the same period last year[15]. - The company’s wind and solar power generation increased by 94.6%, reaching 1.68 billion kWh compared to 860 million kWh in the previous year[15]. - The average realized price of crude oil was $70.00 per barrel, down 7.2% from $75.41 per barrel in the previous year[14]. - The average sales price of domestic natural gas was $9.01 per thousand cubic feet, down 3.9% from $9.38 per thousand cubic feet year-on-year[14]. - Total sales of gasoline, kerosene, and diesel amounted to 36,776 thousand tons, a decrease of 6.3% compared to 39,258 thousand tons in Q1 2024[23]. - The sales of natural gas increased to 864.42 billion cubic meters, up 3.7% from 833.69 billion cubic meters year-on-year[25]. Cash Flow and Investments - Cash flow from operating activities generated RMB 139,436 million, an increase of 25.3% from RMB 111,257 million in the prior year[38]. - Cash and cash equivalents increased significantly to RMB 291,567 million from RMB 216,246 million, a growth of about 34.8%[27]. - Investment activities resulted in a net cash outflow of RMB 43,547 million, an improvement from RMB 60,404 million in the previous year[38]. - Cash flow from financing activities showed a net outflow of RMB 8,504 million, significantly reduced from RMB 65,439 million in the same period last year[38]. - The cash received from dividends increased significantly to RMB 2,463 million, compared to RMB 241 million in the same period of 2024, representing a substantial increase of approximately 927.0%[45]. Strategic Developments - The company acquired 100% equity of China Petroleum Group Electric Power Co., Ltd. in 2024, which will be consolidated into the financial statements from October 29, 2024[4]. - The company plans to increase its A-shares and H-shares holdings by no less than RMB 2.8 billion and no more than RMB 5.6 billion within 12 months starting from April 8, 2025[11]. - The company plans to enhance its marketing strategies and expand its non-oil business to improve profitability[22]. - The company maintains a stable financial condition and continues to focus on green and low-carbon transformation[14].