Financial Performance - The company's operating revenue for Q1 2023 was CNY 21,978,009 thousand, a decrease of 15.49% compared to CNY 26,006,070 thousand in the same period last year[4] - The net profit attributable to shareholders of the listed company was a loss of CNY 163,142 thousand, representing a decline of 176.27% from a profit of CNY 213,510 thousand in the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 159,041 thousand, down 165.70% from CNY 241,668 thousand in the same period last year[4] - The decline in net profit was attributed to a decrease in product sales and reduced investment income during the reporting period[7] - Net profit for Q1 2023 was a loss of RMB 162,346 thousand, compared to a profit of RMB 215,222 thousand in Q1 2022, indicating a significant decline[15] Cash Flow and Liquidity - The net cash flow from operating activities was a negative CNY 29,479 thousand, compared to a negative CNY 1,785,568 thousand in the previous year, indicating a significant improvement[4] - Cash flow from operating activities in Q1 2023 was a net outflow of RMB 29,479 thousand, an improvement from a net outflow of RMB 1,785,568 thousand in Q1 2022[16] - Cash flow from investing activities in Q1 2023 was a net outflow of RMB 386,507 thousand, compared to a net outflow of RMB 2,824,403 thousand in Q1 2022, showing a reduction in cash outflow[16] - Cash flow from financing activities in Q1 2023 was a net inflow of RMB 3,464,658 thousand, compared to RMB 4,485,169 thousand in Q1 2022, indicating a decrease in financing activities[17] - The company's cash and cash equivalents increased to RMB 7,281,505,000 from RMB 3,998,332,000 as of December 31, 2022, reflecting a significant increase of approximately 82.5%[12] Assets and Liabilities - The total assets at the end of the reporting period were CNY 40,637,918 thousand, a decrease of 1.47% from CNY 41,242,740 thousand at the end of the previous year[4] - The total assets decreased slightly to RMB 40,637,918,000 from RMB 41,242,782,000, indicating a reduction of about 1.5%[13] - The total liabilities decreased to RMB 14,411,891,000 from RMB 14,871,357,000, a reduction of approximately 3.1%[13] - Short-term borrowings rose sharply to RMB 5,048,000,000 from RMB 1,550,000,000, marking an increase of approximately 225.4%[13] - The total non-current assets decreased to RMB 24,873,548,000 from RMB 25,476,900,000, reflecting a decline of about 2.4%[12] Shareholder Information - As of March 31, 2023, the total number of ordinary shareholders is 95,286, with the top 10 shareholders holding a total of 5,459,455,000 shares, representing 50.55% of the total shares[8] - The equity attributable to shareholders of the listed company was CNY 26,097,552 thousand, down 0.56% from CNY 26,243,705 thousand at the end of the previous year[4] - The total equity attributable to shareholders decreased to RMB 26,097,552,000 from RMB 26,243,746,000, a decrease of approximately 0.6%[13] Accounting Changes - The company has implemented adjustments in financial reporting due to the new accounting standards effective from January 1, 2023, impacting the recognition of deferred tax assets and liabilities[5] - The company executed new accounting standards in 2023, impacting the financial statements[18] - The accounting policy change resulted in a net profit adjustment of CNY 372,000 for the three months ended March 31, 2022[20] - The cumulative impact of the policy change was reflected in the retained earnings and other relevant financial statement items[20] - Deferred tax assets increased by CNY 42,000, while deferred tax liabilities rose by CNY 3,000 as a result of the policy change[21] Research and Development - Research and development expenses increased to RMB 30,776 thousand in Q1 2023, compared to RMB 11,867 thousand in Q1 2022, reflecting a focus on innovation[14] Other Financial Metrics - The weighted average return on net assets was -0.623%, a decrease of 1.33 percentage points from 0.700% in the previous year[4] - The company reported non-recurring gains and losses totaling CNY -4,101 thousand for the period, primarily due to employee termination benefits and accounts receivable discount losses[6] - The company's retained earnings as of March 31, 2023, stand at RMB 7,759,906,000, down from RMB 7,923,048,000 as of December 31, 2022[13] - The company reported a direct economic loss of approximately RMB 9,714,800 due to a production safety incident on March 25, 2023[10]
上海石油化工股份(00338) - 2023 Q1 - 季度业绩