COOEC(SH:600583)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was RMB 639,670.71 million, representing a year-on-year increase of 46.91%[4] - The net profit attributable to shareholders of the listed company reached RMB 44,831.00 million, a significant increase of 279.56% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 32,414.52 million, reflecting a remarkable growth of 496.81% year-on-year[4] - The basic earnings per share for the period was RMB 0.10, which is an increase of 233.33% compared to the previous year[4] - The total comprehensive income for Q1 2023 was ¥46,346.30 million, compared to ¥9,659.83 million in Q1 2022[21] - Net profit for Q1 2023 was ¥45,130.02 million, compared to ¥11,668.12 million in Q1 2022, representing a growth of 286%[20] Cash Flow and Assets - The net cash flow from operating activities was negative RMB 8,730.81 million, a decrease of 136.01% year-on-year[4] - The company's cash and cash equivalents increased to RMB 261.64 million from RMB 212.30 million year-on-year[16] - Cash received from sales of goods and services in Q1 2023 was ¥644,314.71 million, compared to ¥568,485.12 million in Q1 2022, indicating a growth of 13%[22] - The net cash flow from investment activities was 70,631.20 million, a significant improvement from -14,646.38 million in the previous year[25] - Cash outflow from operating activities totaled 666,053.96 million, compared to 549,036.62 million in the previous year[24] Liabilities and Equity - The total liabilities decreased to ¥1,593,553.22 million in Q1 2023 from ¥1,695,609.48 million in Q1 2022[18] - The total equity attributable to shareholders of the parent company increased to ¥2,416,601.09 million in Q1 2023 from ¥2,370,298.97 million in Q1 2022[18] - The company’s non-current liabilities decreased to RMB 1,523.92 million from RMB 1,618.48 million year-on-year, indicating improved financial stability[17] - Shareholders' equity attributable to the parent company was 2,370,298.97 million, reflecting a decrease of 111.08 million compared to the previous period[29] Operational Efficiency and Projects - The company reported a significant increase in operational efficiency, with a focus on cost reduction and quality improvement, leading to a substantial enhancement in operating performance[12] - The company completed 67 projects during the quarter, with 3 projects finished, and achieved a steel processing volume of 120,100 tons, a 44% increase from 83,500 tons in the same period last year[14] - In Q1 2023, the company signed new contracts worth RMB 5.871 billion, a 20.66% increase compared to the same period last year, with domestic contracts accounting for RMB 5.204 billion and overseas contracts RMB 0.667 billion[13] Research and Development - Research and development expenses surged to ¥24,315.48 million in Q1 2023, compared to ¥6,420.12 million in Q1 2022, marking an increase of 278%[20] Strategic Initiatives - The company is advancing its green transition, with the completion of China's first deep-sea floating wind power platform, marking a significant technological advancement in offshore oil and gas development[14] - The company has successfully signed a contract for the construction of the ethylene unit for BASF's Zhanjiang integrated project, initiating a modular construction model for petrochemical projects in China[13] - The company is enhancing its competitiveness in the LNG engineering sector, successfully securing new orders for the Zhejiang LNG Phase III project[13]