2022-04-28 08:42Financial Performance - The company's operating revenue for Q1 2022 was RMB 90,898 million, representing a 73.52% increase compared to RMB 52,386 million in Q1 2021[4] - Net profit attributable to shareholders for Q1 2022 was RMB 34,301 million, a significant increase of 131.67% from the previous year[4] - The net cash flow from operating activities for Q1 2022 was RMB 39,416 million, reflecting a 64.03% increase year-on-year[4] - Basic and diluted earnings per share for Q1 2022 were both RMB 0.77, up 131.67% compared to the same period last year[4] - Operating profit reached RMB 45,954 million, up 126.3% from RMB 20,363 million year-on-year[20] - Revenue from operating activities generated cash inflow of RMB 82,416 million, compared to RMB 47,813 million in the first quarter of 2021, reflecting a growth of 72.3%[22] - The total tax expenses for the quarter were RMB 11,626 million, compared to RMB 5,513 million in the same quarter of the previous year, marking a 110.5% increase[20] Sales and Production - Oil and gas sales revenue reached RMB 82,380 million, a 70.44% increase from RMB 48,335 million in Q1 2021[8] - In Q1 2022, the company achieved a total net production of 151.0 million barrels of oil equivalent, a year-on-year increase of 9.64%[13] - The company's oil and gas sales revenue reached approximately RMB 82.38 billion, up 70.44% year-on-year, primarily due to rising international oil prices and increased sales volume[13] - The average realized oil price for the quarter was $97.47 per barrel, an increase of 65.01% year-on-year, while the average realized gas price was $8.35 per thousand cubic feet, up 24.44%[13] Assets and Liabilities - The company reported a total asset value of RMB 824,763 million at the end of the reporting period, a 4.86% increase from RMB 786,569 million at the end of the previous year[4] - The total assets as of March 31, 2022, amounted to RMB 824.76 billion, compared to RMB 786.57 billion at the end of 2021[17] - Total liabilities were RMB 308.42 billion, slightly up from RMB 304.59 billion at the end of 2021[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 1,565[10] - The largest shareholder, CNOOC (BVI) Limited, held 64.44% of the shares, totaling 28,772,727,268 shares[10] Capital Expenditures and Investments - Capital expenditures for Q1 2022 were approximately RMB 16.93 billion, a year-on-year increase of 5.58%[14] - The company reported a cash outflow from investing activities of RMB 43,219 million, compared to RMB 31,329 million in the previous year, indicating a 37.9% increase in investment outflows[22] Research and Development - Research and development expenses increased to RMB 225 million, up 32.4% from RMB 170 million in the previous year[20] Expenses - The company experienced a significant increase in sales expenses, which rose to RMB 770 million, a 21.8% increase from RMB 632 million[20] - The company’s financial expenses decreased to RMB 683 million from RMB 954 million, a reduction of 28.4% year-on-year[20] Discoveries and Projects - The company made 4 new discoveries and had 13 successful appraisal wells in Q1 2022, with significant breakthroughs in Bohai Sea projects[13] - The company plans to put into production new projects including the Panzhihua 12-8 oil field and Guyana Liza Phase II within the year[13]