2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 reached ¥5,630,759,524.57, representing a 61.91% increase compared to ¥3,477,722,215.51 in the same period last year[4] - Net profit attributable to shareholders was ¥1,095,888,082.06, a significant increase of 4,272.57% from ¥25,027,949.60 in the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥883,728,772.38, up 3,243.21% from ¥26,398,691.65 year-on-year[4] - Basic and diluted earnings per share were both ¥0.2297, up 4,265.16% from ¥0.0053 in the previous year[5] - The company's gross profit from foreign trade oil transportation reached RMB 1.22 billion, a significant increase of 428% year-on-year[13] - The total revenue from operating activities reached CNY 5,979,906,119.24, compared to CNY 3,347,925,953.31 in the same period last year, indicating a growth of about 78.5%[21] - The company reported a total comprehensive income of CNY 1,080,217,966.56 for Q1 2023, compared to CNY 98,368,345.56 in Q1 2022, marking a significant increase[19] - The company’s total profit for Q1 2023 was CNY 1,549,278,821.88, a substantial increase from CNY 163,999,671.49 in Q1 2022, reflecting a growth of approximately 846%[19] Cash Flow and Liquidity - The net cash flow from operating activities was ¥1,842,207,664.70, a turnaround from a negative cash flow of ¥327,897,846.48 in the same period last year, marking a 661.82% increase[5] - The company's cash and cash equivalents at the end of Q1 2023 were RMB 1,500,000,000, reflecting a stable liquidity position[16] - The cash and cash equivalents at the end of Q1 2023 amounted to CNY 4,249,463,555.80, up from CNY 2,715,026,560.78 at the end of Q1 2022, showing a growth of approximately 56.5%[22] - The company recorded a net cash outflow from investing activities of CNY -1,172,700,441.02, compared to a net outflow of CNY -1,158,710,209.28 in the same quarter last year[22] - The financing activities resulted in a net cash outflow of CNY -650,325,153.17, contrasting with a net inflow of CNY 643,882,130.37 in Q1 2022[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥68,821,665,819.68, reflecting a 0.84% increase from ¥68,250,082,337.87 at the end of the previous year[5] - The company's total liabilities decreased to RMB 33,970,966,198.56 in Q1 2023 from RMB 34,679,692,078.86 in Q1 2022, a reduction of 2.0%[17] - The total assets of the company reached RMB 68.82 billion, compared to RMB 68.25 billion in the previous period[15] - Short-term borrowings decreased to RMB 4.04 billion from RMB 5.42 billion in the previous period[15] - Accounts receivable increased to RMB 1.00 billion from RMB 539 million in the previous period[14] Shareholder Information - Shareholder equity attributable to the parent company was ¥32,695,521,406.91, up 3.56% from ¥31,570,483,022.61 at the end of the previous year[5] - The total number of ordinary shareholders at the end of the reporting period was 87,734, with the largest shareholder being China Shipping Group Co., Ltd., holding 32.22% of the shares[9] Operational Highlights - In Q1 2023, the average daily earnings for VLCC on the Middle East to China route (TD3C) reached a peak of approximately $100,000 per day, with an average of $46,967 per day for the quarter[13] - The group's tanker capacity input was 185,402 million ton-days, a decrease of 10.9% year-on-year, while the transportation volume (excluding time charter) was 42.96 million tons, down 6.1% year-on-year[13] - The tanker segment achieved operating revenue of RMB 5.2 billion, a year-on-year increase of 64.2%, with a gross profit margin of 28.9%, up 27.7 percentage points year-on-year[13] - The LNG transportation business contributed a net profit attributable to shareholders of RMB 198 million, a year-on-year increase of 15%[13] - As of the end of Q1 2023, the global VLCC fleet consisted of 895 vessels, with only 17 new orders and no scrapping activity reported[13] Research and Development - Research and development expenses for Q1 2023 were RMB 4,136,516.17, significantly higher than RMB 1,707,214.98 in Q1 2022, indicating an increase of 142.5%[18] Tax and Expenses - The company reported a significant increase in tax expenses, which rose to RMB 44,672,823.60 in Q1 2023 from RMB 9,421,688.08 in Q1 2022, reflecting a growth of 373.5%[18] Future Outlook - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency in the upcoming quarters[16]