GUANGHUI ENERGY(SH:600256)2023-04-13 16:00Financial Performance - The company's operating revenue for Q1 2023 reached ¥19,861,531,725.11, representing a 111.35% increase compared to the same period last year[3]. - Net profit attributable to shareholders was ¥3,007,169,621.76, an increase of 35.86% year-on-year[3]. - The net profit excluding non-recurring gains and losses was ¥2,974,784,536.21, reflecting a 35.42% increase compared to the previous year[3]. - Basic earnings per share for the period were ¥0.4580, up 35.86% from the same quarter last year[3]. - Operating profit for Q1 2023 was CNY 3.82 billion, representing a 38.8% increase from CNY 2.75 billion in Q1 2022[49]. - The total cost of operations for Q1 2023 was CNY 16.01 billion, which is a 135.5% increase from CNY 6.78 billion in Q1 2022[47]. Revenue and Sales Growth - The significant increase in revenue and profit was primarily driven by higher sales volume and natural gas prices[5]. - In Q1 2023, the company achieved operating revenue of ¥19,861,531,725.11, a year-on-year increase of 111.35%[14]. - The total natural gas sales volume reached 211,420.78 million cubic meters, marking an 82.66% increase from the previous year[19]. - The coal production from the Baishihu open-pit mine was 676.86 million tons, a significant increase of 76.70% year-on-year[22]. - The total coal sales volume was 884.37 million tons, up 50.57% compared to the same period last year[22]. - In Q1 2023, methanol production reached 29.9 million tons with sales of 52.18 million tons, reflecting a year-on-year sales increase of 79.58%[32]. - The sales volume of coal chemical products was 1,022,700 tons, a substantial increase of 75.42% compared to the previous year[31]. - The coal chemical by-products saw production of 11.06 million tons and sales of 31.84 million tons, marking a significant sales increase of 191.03% year-on-year[32]. Assets and Equity - Total assets at the end of the reporting period were ¥62,677,285,712.60, a 1.79% increase from the end of the previous year[3]. - Shareholders' equity attributable to the parent company increased by 10.54% to ¥31,911,045,078.98[3]. - Total assets as of March 31, 2023, were approximately CNY 62.68 billion, an increase from CNY 61.58 billion at the end of 2022[41]. - The total equity attributable to shareholders increased to CNY 31.91 billion in Q1 2023, up from CNY 28.87 billion in Q1 2022, reflecting a growth of 10.5%[46]. Cash Flow and Financial Position - The net cash flow from operating activities was ¥2,153,878,949.90, an increase of 8.64% year-on-year[3]. - The net cash flow from operating activities was ¥2,153,878,949.90, up from ¥1,982,559,660.12 in the same period last year, reflecting a growth of 8.6%[53]. - Cash outflow for purchasing goods and services was ¥14,873,842,342.35, which is a 107.5% increase from ¥7,169,225,665.92 in Q1 2022[53]. - The net cash flow from investing activities was -¥1,359,700,351.27, worsening from -¥863,904,684.20 year-over-year[55]. - Cash inflow from financing activities totaled ¥3,860,116,011.79, down 28.1% from ¥5,384,423,732.03 in Q1 2022[55]. - The ending balance of cash and cash equivalents was ¥3,268,263,798.42, a decrease from ¥3,664,240,285.98 at the end of Q1 2022[55]. Government Support and Projects - The company received government subsidies amounting to ¥37,637,980.93, which contributed to the net profit[5]. - The company is advancing the construction of the LNG receiving station in Jiangsu, with 40% of the inner tank installation completed as of the latest update[34]. - The carbon capture and oil recovery project has entered trial production, successfully producing qualified liquid carbon dioxide as of March 25, 2023[37]. - The hydrogen energy project aims for large-scale commercial application by 2030, with initial investments in green hydrogen production and infrastructure underway[39]. - The Kazakhstan Zhaisan oil and gas development project currently has 54 wells, with ongoing efforts to restore production in three old wells using new technology[35]. Research and Development - Research and development expenses for Q1 2023 were CNY 41.52 million, compared to CNY 36.07 million in Q1 2022, indicating a 15.5% increase[47].