XCEC(SH:600777)2023-04-28 16:00Financial Performance - The company achieved a consolidated net profit of CNY 3,127,976,474.03 for the year 2022, with the net profit attributable to the parent company also being CNY 3,127,976,474.03[4]. - The company's operating revenue for 2022 was approximately ¥9.36 billion, representing a 94.07% increase compared to ¥4.82 billion in 2021[18]. - Net profit attributable to shareholders for 2022 reached approximately ¥3.13 billion, a significant increase of 756.63% from ¥365 million in 2021[18]. - The net cash flow from operating activities was approximately ¥7.87 billion, up 129.57% from ¥3.43 billion in 2021[18]. - The total assets at the end of 2022 were approximately ¥31.32 billion, reflecting a 19.55% increase from ¥26.20 billion at the end of 2021[18]. - The net assets attributable to shareholders increased to approximately ¥16.89 billion, a 38.39% rise from ¥12.21 billion in 2021[18]. - The net profit after deducting non-recurring gains and losses was 3.692 billion RMB, reflecting a year-on-year growth of 320.74%[24]. - The company reported a significant increase in operating costs due to higher oil and gas production, with total operating costs amounting to ¥3,225,476,545.04, up 33.17% year-on-year[39]. - The company reported a net profit of CNY 2,699,916,197.02, compared to a loss of CNY 418,660,082.11 in the previous year[175]. - The total comprehensive income for the year was -586,304,656.71, indicating a loss compared to the previous year's figures[196]. Dividends and Profit Distribution - The company plans not to distribute cash dividends or issue bonus shares for the 2022 fiscal year[4]. - As of December 31, 2022, the company's undistributed profits amounted to CNY -2,256,068,615.69[4]. - The company has implemented a cash dividend policy in accordance with regulatory requirements, which was approved by the board and shareholders[85]. Legal and Compliance Issues - The company is currently involved in legal proceedings related to a trust default case, with potential liabilities amounting to CNY 3,582,000,000[6]. - The company has received a civil judgment requiring it to bear compensation responsibilities within the range of CNY 1,585,666,666.67 for certain debts[7]. - The company has stated that it will continue to pursue legal channels to assert its rights regarding the ongoing litigation[7]. - The company faced significant litigation matters, including disputes related to debt issues and shareholder lawsuits[129]. - The company received a public reprimand from the Shanghai Stock Exchange for inaccurate performance forecast disclosures[133]. Corporate Governance - The company maintains a complete separation from major shareholders and their affiliates in terms of personnel, assets, finance, institutions, and business operations, ensuring independent and compliant operations[62]. - The company has established a comprehensive corporate governance structure in accordance with relevant laws and regulations, aligning with the requirements of the Corporate Governance Code for listed companies[62]. - The company has committed to continuously improving its internal control systems to enhance governance standards and promote healthy development[62]. - The company’s board of directors and supervisory board have been actively involved in overseeing the company's operations and financial reporting[62]. - The company has not faced any penalties from securities regulatory agencies in the past three years[74]. Market Expansion and Strategic Initiatives - The company plans to continue expanding its market presence and invest in new technologies and products to sustain growth[1]. - Future guidance suggests continued revenue growth and profitability improvements, driven by strategic initiatives and market expansion efforts[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[71]. - In 2023, the company plans to seek acquisition opportunities to integrate new assets and enhance synergy effects, further solidifying its resource reserves[59]. Financial Health and Ratios - The company's asset-liability ratio decreased to 46.06%, down 7.34 percentage points from the end of 2021[24]. - The company's total liabilities amounted to CNY 14,425,584,732.79, compared to CNY 13,989,739,540.15 in 2021, reflecting an increase of approximately 3.1%[174]. - The total liabilities to equity ratio stands at approximately 85.5%, indicating a relatively high leverage position[174]. - The company's equity attributable to shareholders rose to CNY 16,892,916,037.31, up from CNY 12,206,913,076.61, indicating a growth of around 38.5%[175]. Production and Operational Metrics - The company reported a crude oil production of 14.7158 million barrels, an increase of 22.98% compared to 2021[24]. - Natural gas production was 5.4382 million barrels of oil equivalent, up 12.78% year-on-year[24]. - The average number of active drilling rigs in the U.S. increased to 723 in 2022, up 51.26% from 478 in 2021[26]. - The total number of drilling wells in the U.S. for 2022 was 15,944, representing a 22.88% increase from 12,975 in 2021[26]. Environmental and Social Responsibility - The company invested 17.41 million yuan in environmental protection funds during the reporting period[91]. - The company implemented carbon reduction measures, resulting in a decrease of 99,000 tons of CO2 equivalent emissions[93]. - The company has established a social responsibility report for 2022, which is available on the Shanghai Stock Exchange website[94]. - The company has not experienced any major environmental incidents or pollution accidents during the reporting period[92]. Employee and Management Information - The company had a total of 241 employees, with 5 in the parent company and 236 in major subsidiaries[82]. - The employee composition includes 99 production staff, 32 technical staff, 32 financial staff, and 78 administrative staff[82]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 580.16 million, with the highest individual remuneration being CNY 118.00 million for the chairman and general manager[68]. Shareholder Information - The total number of common stock shareholders increased from 192,033 to 210,634 during the reporting period[148]. - The largest shareholder, Ningbo Guojin Sunshine Equity Investment Center, holds 434,343,434 shares, representing 6.39% of the total shares[149]. - The company has established a 36-month lock-up period for shares acquired on August 22, 2017[101]. - The total number of shares before the recent change was 6,800,495,825, with 134,074,074 shares being released from restrictions, resulting in a new total of 6,800,495,825 shares[143].