2022-10-27 08:34Financial Performance - Total operating revenue for Q3 2022 reached RMB 108,790 million, an increase of 71.0% compared to RMB 63,622 million in Q3 2021[4] - Net profit attributable to shareholders of the parent company was RMB 36,881 million, up 89.06% year-on-year from RMB 19,500 million[4] - The net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was RMB 36,375 million, reflecting a 91.58% increase compared to RMB 18,973 million in the same period last year[4] - Basic earnings per share for Q3 2022 was RMB 0.77, representing a 75.00% increase from RMB 0.44 in Q3 2021[4] - Net profit attributable to shareholders reached RMB 108.77 billion, up 105.9% year-on-year[12] - Operating profit for the first three quarters of 2022 was RMB 149,827 million, up 110% from RMB 71,333 million in the same period of 2021[19] - Net profit attributable to shareholders for the first three quarters of 2022 was RMB 108,768 million, compared to RMB 52,837 million in the same period of 2021, reflecting a growth of 106%[20] Cash Flow - Cash flow from operating activities amounted to RMB 166,892 million, a 59.49% increase compared to RMB 104,670 million year-to-date[4] - Cash flow from operating activities for the first three quarters of 2022 was RMB 166,892 million, compared to RMB 104,642 million in the same period of 2021, indicating a growth of 60%[22] - Cash inflow from investment activities for the first three quarters of 2022 was $119,218 million, up from $64,457 million in the same period of 2021, representing an increase of 85.1%[23] - Cash outflow from investment activities increased to $195,131 million in 2022 from $131,015 million in 2021, marking a rise of 48.9%[23] - Net cash flow from investment activities was -$75,913 million in 2022, compared to -$66,558 million in 2021, indicating a deterioration of 14.5%[23] - Cash inflow from financing activities rose significantly to $32,816 million in 2022 from $5,606 million in 2021, an increase of 484.5%[23] - Cash outflow from financing activities increased to $64,397 million in 2022 from $25,078 million in 2021, reflecting a growth of 156.5%[23] - Net cash flow from financing activities was -$31,581 million in 2022, worsening from -$19,472 million in 2021, a decline of 62.1%[23] - The net increase in cash and cash equivalents for the first three quarters of 2022 was $62,679 million, compared to $18,264 million in 2021, representing a growth of 243.5%[23] - The ending balance of cash and cash equivalents reached $104,111 million in 2022, up from $42,283 million in 2021, an increase of 146.5%[23] Production and Sales - The total net production for Q3 2022 reached 156.8 million barrels of oil equivalent, an increase of 8.8% year-on-year[11] - Domestic net production was 106.9 million barrels of oil equivalent, up 6.8% year-on-year, driven by contributions from several key fields[11] - International net production was 49.9 million barrels of oil equivalent, a 13.5% increase year-on-year, primarily due to the commissioning of the Liza Phase 2 project in Guyana[11] - In the first three quarters of 2022, the company achieved unaudited oil and gas sales revenue of approximately RMB 265.89 billion, a year-on-year increase of 67.6% due to rising international oil prices and increased sales volume[12] - The company reported a total oil and gas production of 106.9 million barrels of oil equivalent for the first three quarters of 2022, compared to 92.9 million barrels of oil equivalent for the same period in 2021[15] Capital Expenditures - Capital expenditures for exploration in Q3 2022 were RMB 5,155 million, an increase of 8.9% from RMB 4,731 million in Q3 2021[8] - The company reported a total of RMB 27,121 million in capital expenditures for Q3 2022, a 29.5% increase from RMB 20,935 million in Q3 2021[8] - Capital expenditures for the first three quarters amounted to approximately RMB 68.69 billion, a year-on-year increase of 20.6% due to increased workload[12] Assets and Liabilities - Total assets at the end of Q3 2022 were RMB 934,962 million, an 18.87% increase from RMB 786,569 million at the end of the previous year[4] - The total current assets as of September 30, 2022, were RMB 300.63 billion, compared to RMB 207.98 billion as of December 31, 2021[17] - The total liabilities as of September 30, 2022, amounted to RMB 366,130 million, an increase of 20% from RMB 304,593 million at the end of 2021[18] - The company's total assets reached RMB 934,962 million as of September 30, 2022, up from RMB 786,569 million at the end of 2021[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 182,808, with 181,153 holding A-shares and 1,655 holding Hong Kong shares[10] - The top shareholder, China National Offshore Oil Corporation (BVI), holds 28,772,727,268 shares, representing 60.46% of total shares[9] Discoveries and Projects - The company achieved 14 new discoveries and successfully evaluated 20 oil and gas structures in the first three quarters of 2022, setting a historical high for net production[11] - The company successfully launched six projects in the first three quarters of 2022, with other new projects progressing steadily[11] - The company made five new discoveries and successfully evaluated four oil and gas structures in Q3 2022[11] - The newly discovered Baodao 21-1 gas field has proven reserves exceeding 50 billion cubic meters of natural gas and over 3 million cubic meters of condensate oil[11] - The company successfully launched its first independently developed deepwater subsea production system, which is significant for the effective development of deepwater oil and gas fields in the South China Sea[12] Market Conditions - The increase in revenue and profit was primarily driven by rising international oil prices and increased sales volume[6] - Average realized price for oil liquids was USD 95.80 per barrel, a 36.1% increase from USD 70.38 per barrel in Q3 2021[8] - Brent crude oil average price for Q3 2022 was $102.5 per barrel, reflecting significant volatility in the international oil market[11] - The average realized oil price was $101.40 per barrel, a 55.8% increase year-on-year, while the average realized gas price was $8.14 per thousand cubic feet, up 20.2% year-on-year[12] Research and Development - Research and development expenses for the first three quarters of 2022 were RMB 812 million, slightly down from RMB 982 million in the same period of 2021[19] Future Outlook - For the fourth quarter, the company aims to maintain a focus on high-quality development while ensuring the achievement of annual production and operational targets[12]