ZPEC(SH:603619)2023-10-30 16:00Financial Performance - The company's operating revenue for Q3 2023 reached ¥1,114,688,924.55, representing a 35.86% increase compared to the same period last year[6]. - Net profit attributable to shareholders was ¥249,817,364.51, marking a 56.92% increase year-over-year[6]. - The net profit after deducting non-recurring gains and losses was ¥236,811,932.05, reflecting a 47.33% increase compared to the previous year[6]. - Basic earnings per share (EPS) for Q3 2023 was ¥0.63, up 57.50% from ¥0.40 in the same quarter last year[6]. - The weighted average return on equity (ROE) increased to 8.66%, up from 6.95% in the previous year[6]. - The cumulative net profit attributable to shareholders for the first three quarters of 2023 reached CNY 689.75 million, up 85.65% compared to the same period last year[18]. - Net profit for the first nine months of 2023 reached ¥688,199,129.17, a significant increase from ¥371,354,076.98 in the same period of 2022, reflecting a growth of approximately 85.5%[26]. - Operating revenue for the first three quarters of 2023 was ¥2,996,755,008.04, compared to ¥2,216,108,517.23 in 2022, indicating an increase of around 35.1%[25]. Assets and Liabilities - Total assets at the end of Q3 2023 were ¥8,702,455,556.35, a 21.64% increase from the end of the previous year[6]. - Total assets increased to ¥8,702,455,556.35 in Q3 2023, up from ¥7,154,512,927.63 in Q3 2022, representing a growth of approximately 21.6%[21]. - Total liabilities rose to ¥5,762,490,934.19, compared to ¥4,856,697,647.67 in the previous year, marking an increase of about 18.6%[22]. - The company's equity attributable to shareholders was approximately ¥2.30 billion, reflecting a decrease of ¥153,381.51[35]. - Long-term borrowings increased to ¥1,567,389,883.13 in Q3 2023, compared to ¥1,121,811,463.03 in Q3 2022, marking an increase of about 40%[22]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥693,057,396.19, a 20.53% increase compared to the same period last year[6]. - The net cash flow from operating activities for the third quarter of 2023 was approximately ¥693.06 million, an increase of 20.6% from ¥575.00 million in the third quarter of 2022[30]. - Cash inflow from operating activities for the first nine months of 2023 was approximately ¥3.46 billion, compared to ¥2.44 billion in the same period of 2022, indicating a growth of 41.9%[29]. - The net cash flow from financing activities for the third quarter of 2023 was approximately ¥760.06 million, compared to ¥290.24 million in the same quarter of 2022, representing an increase of 161.5%[31]. - The company reported a cash inflow from financing activities of approximately ¥2.05 billion for the first nine months of 2023, compared to ¥1.99 billion in the same period of 2022, reflecting a growth of 2.9%[30]. Production and Sales - The increase in revenue was primarily driven by higher crude oil sales and drilling engineering service income[11]. - The company’s crude oil production in the Wensu project for Q3 2023 was 155,700 tons, with a total production of 430,800 tons for the first three quarters, an increase of 36.85% year-on-year[17]. - The average price of WTI crude oil in Q3 2023 was USD 82.22 per barrel, up 11.77% from the previous quarter[16]. - The average price of Brent crude oil in Q3 2023 was USD 85.92 per barrel, reflecting a quarter-on-quarter increase of 10.55%[16]. Expenses and Investments - Operating costs increased to ¥2,102,819,068.14 in 2023 from ¥1,691,167,144.68 in 2022, which is an increase of approximately 24.3%[25]. - Research and development expenses rose to ¥103,532,619.06 in 2023, compared to ¥69,004,719.37 in 2022, reflecting an increase of about 49.9%[25]. - The company reported a decrease in tax expenses to ¥211,120,615.65 in 2023 from ¥155,121,224.69 in 2022, reflecting a reduction of about 36%[26]. - The cash outflow from investment activities for the first nine months of 2023 was approximately ¥732.79 million, compared to ¥470.92 million in the same period of 2022, indicating an increase of 55.5%[30]. Strategic Focus - The company is focusing on management reform, digital transformation, and enhancing profitability across its segments[17]. - The company’s strategy emphasizes exploration and development, aiming for integrated collaboration to boost oil and gas reserves and production[17]. Accounting and Reporting - The company did not conduct an audit for the Q3 financial statements[4]. - The company has implemented new accounting standards starting from January 1, 2023, which may affect the financial statements[31]. - The company did not report any net profit from the merged entity prior to the merger in the current or previous periods[27].