Financial Performance - Operating revenue for the first half of 2023 was RMB 44,937,051, a decrease of 2.10% compared to RMB 45,900,355 in the same period last year[5]. - Total loss for the period was RMB -1,211,974, representing an increase of 173.83% from RMB -442,601 in the previous year[5]. - Net loss attributable to shareholders of the parent company was RMB -988,277, up 126.65% from RMB -436,042 in the same period last year[5]. - Basic loss per share for the period was RMB -0.092, compared to RMB -0.040 in the same period last year[6]. - The company reported a pre-tax loss of RMB 1.190 billion, an increase of RMB 0.757 billion compared to a pre-tax loss of RMB 0.433 billion in the same period last year[19]. - The company reported a net loss of RMB 1,211,974 thousand for the first half of 2023, compared to a loss of RMB 442,601 thousand in the same period of 2022, representing an increase in losses of approximately 174.5%[55]. - The total comprehensive income for the six months ended June 30, 2023, was RMB (964,118,000), compared to RMB (147,866,000) in the same period of the previous year, indicating a deterioration in overall financial health[70]. Cash Flow and Liquidity - Cash flow from operating activities showed a net outflow of RMB -226,882, a significant decrease of 96.46% compared to RMB -6,405,122 in the previous year[5]. - The company's cash flow from investment activities included a cash inflow of RMB 1,000,000 thousand from the recovery of term deposits due within one year, a decrease from RMB 5,950,000 thousand in the previous year[77]. - The cash inflow from financing activities generated a net inflow of RMB 3,427,414 thousand, compared to RMB 1,946,321 thousand in the same period last year, indicating improved financing conditions[58]. - The total cash and cash equivalents increased by RMB 3,714,009 thousand for the six months ended June 30, 2023, compared to a decrease of RMB (2,682,093) thousand in the same period of 2022[78]. - The company's cash and cash equivalents increased to RMB 6,931,677 thousand, representing 16.62% of total assets, a 73.36% increase from RMB 3,998,332 thousand at the end of 2022[39]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 41,701,821, an increase of 1.11% from RMB 41,242,782 at the end of the previous year[6]. - The company's total liabilities reached RMB 16,295,519 thousand, up from RMB 14,871,357 thousand, indicating an increase of about 9.5%[53][54]. - The asset-liability ratio as of June 30, 2023, was 38.97%, up from 31.58% a year earlier[29]. - The total amount of accounts payable as of June 30, 2023, was RMB 2,162,096 thousand, down from RMB 2,926,534 thousand as of December 31, 2022, reflecting a decrease of approximately 26%[103]. Shareholder Information - The major shareholder, China Petroleum & Chemical Corporation, holds 5,459,455,000 A shares, representing 50.55% of the total issued shares[11]. - The company’s total issued A shares are 10,785,000,000, with 74.49% of A shares held by major shareholders[14]. - The total number of ordinary shareholders at the end of the reporting period was 94,357[9]. - The company has not received any notifications regarding additional shareholdings from directors or senior management beyond those disclosed[15]. Research and Development - R&D expenses increased to RMB 68,062 thousand, up 86.85% from RMB 36,426 thousand in 2022 due to increased R&D projects[36]. - Research and development expenses (excluding depreciation and amortization) for the six months ended June 30, 2023, were RMB 66,689 thousand, compared to RMB 34,884 thousand for the same period in 2022, marking an increase of approximately 91%[92]. Operational Highlights - Total production of main products reached 6.3172 million tons, an increase of 16.30% year-on-year[19]. - The company processed 7.0939 million tons of crude oil, including 0.4031 million tons of processing, representing a year-on-year increase of 22.41%[19]. - The sales revenue for synthetic fibers, resins and plastics, intermediate petrochemical products, and petrochemical product trading decreased by 3.0%, 10.58%, 15.19%, and 38.75% respectively, while petroleum products increased by 12.01%[22]. Compliance and Governance - The company has adhered to all corporate governance codes as per the Hong Kong Listing Rules during the reporting period[50]. - The company has implemented new accounting standards effective from January 1, 2023, which may impact future financial reporting[7]. - The company’s financial data is prepared in accordance with International Financial Reporting Standards, and the interim financial statements are unaudited[18].
上海石油化工股份(00338) - 2023 - 中期业绩