XCEC(SH:600777)2021-04-29 16:00Financial Performance - Operating revenue decreased by 23.27% to CNY 1,212,116,457.69 year-on-year[4] - Net profit attributable to shareholders decreased by 66.20% to CNY 253,112,256.66 compared to the same period last year[4] - Basic earnings per share decreased by 66.21% to CNY 0.0372 compared to the same period last year[4] - Total operating revenue for Q1 2021 was CNY 1,212,116,457.69, a decrease of 23.2% compared to CNY 1,579,780,588.81 in Q1 2020[18] - The company's net profit for Q1 2021 was ¥253,112,256.66, a decrease of 66.3% compared to ¥748,922,463.25 in Q1 2020[19] - Total comprehensive income for Q1 2021 was ¥64,078,497.84, down from ¥1,299,684,797.90 in Q1 2020[20] - Operating profit for Q1 2021 was ¥317,192,742.35, a decline from ¥966,656,006.90 in Q1 2020[19] - The company reported a total profit of ¥317,365,206.37 for Q1 2021, down from ¥966,763,983.86 in the same period last year[19] Cash Flow - Net cash flow from operating activities decreased by 42.54% to CNY 525,591,515.17 year-on-year[4] - Cash inflow from operating activities totaled ¥987,365,739.07, a decrease from ¥2,103,742,712.86 in the previous year[24] - Cash outflow from operating activities amounted to ¥461,774,223.90, compared to ¥1,189,064,024.41 in the same period last year[24] - Cash outflow from investing activities reached ¥2,670,492,933.21, significantly higher than ¥1,071,437,185.62 in the prior year[25] - Cash inflow from financing activities was ¥2,341,620,000.00, up from ¥384,620,500.00 year-over-year[25] - Net cash flow from financing activities was ¥2,163,856,073.09, compared to ¥192,325,552.51 in the same quarter last year[25] Assets and Liabilities - Total assets increased by 14.99% to CNY 26,137,415,586.20 compared to the end of the previous year[4] - Accounts receivable increased by 69.36% compared to the end of the previous year, mainly due to sales from newly acquired assets[9] - Other receivables increased by 76.03% compared to the end of last year, mainly due to the increase in temporary receivables for electricity supply[10] - Long-term borrowings increased by 2,365,668,000.00 compared to the end of last year, due to the increase in revolving credit[10] - Total liabilities were CNY 14,462,177.01, significantly lower than CNY 29,945,412.15 in the previous year[17] - Total current liabilities were CNY 1,660,442,266.34, with accounts payable at CNY 594,398,803.71[30] Equity and Shareholder Information - The number of shareholders reached 134,683 at the end of the reporting period[6] - The company's equity attributable to shareholders was CNY 12,428,067,036.28, unchanged from the previous reporting period[31] - Shareholders' equity totaled approximately ¥12.35 billion, including paid-in capital of ¥6.80 billion and capital reserve of ¥6.66 billion[33] Operational Insights - Operating costs decreased by 34.42% year-on-year, mainly due to a decline in the depreciation of oil and gas assets[10] - The company expects that the cumulative net profit for the first half of the year will exceed the same period last year by more than 50% if WTI oil prices remain relatively stable[11] - The company reported a decrease in management expenses to ¥1,997,383.62 in Q1 2021 from ¥2,497,737.18 in Q1 2020[21] Research and Development - Research and development expenses for Q1 2021 were CNY 111,400,059.49, an increase from CNY 103,087,902.00 in Q1 2020[18] Other Financial Metrics - Non-operating income and expenses totaled CNY 196,158.02, with a breakdown including CNY 75,837.27 from disposal of non-current assets[5] - Derivative financial assets increased by 380.06% compared to the end of the previous year due to changes in the time value of certain cash flow hedging contracts[9] - Derivative financial liabilities decreased by 32.37% compared to the end of last year, due to changes in the time value of certain cash flow hedging contracts[10]