海油发展(600968) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was ¥9,207,086,965.30, representing a decrease of 3.47% compared to the same period last year[4] - Net profit attributable to shareholders was ¥501,339,525.58, an increase of 21.44% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥437,973,211.73, reflecting a growth of 31.08%[4] - The net profit for Q1 2024 was CNY 535,493,450.72, an increase of 22.2% compared to CNY 438,302,103.00 in Q1 2023[20] - The total profit for Q1 2024 reached CNY 698,519,414.66, up from CNY 563,078,074.97 in the same period last year, reflecting a growth of 24.1%[20] - The basic and diluted earnings per share for Q1 2024 were both CNY 0.0493, compared to CNY 0.0406 in Q1 2023, representing an increase of 17.0%[21] - The company's operating profit for Q1 2024 was CNY 685,434,020.31, an increase from CNY 562,278,539.60 in Q1 2023, reflecting a growth of 21.9%[20] Cash Flow and Liquidity - The net cash flow from operating activities was -¥1,046,069,069.58, a decline of 161.81% compared to the previous year[4] - Operating cash flow for Q1 2024 was negative at CNY -1,046,069,069.58, compared to a positive CNY 1,692,482,011.38 in Q1 2023[23] - Cash and cash equivalents as of March 31, 2024, amounted to ¥4,663,649,163.66, a decrease from ¥8,219,206,195.93 at the end of 2023[15] - Cash and cash equivalents at the end of Q1 2024 totaled CNY 2,536,800,400.51, down from CNY 3,282,070,583.52 at the end of Q1 2023[24] - The company reported a decrease in cash inflow from operating activities, totaling CNY 12,058,408,352.10 in Q1 2024, down from CNY 14,030,963,604.19 in Q1 2023, a decline of 14.0%[22] - Investment activities resulted in a net cash outflow of CNY -2,036,409,370.40 in Q1 2024, compared to CNY -2,189,778,931.35 in Q1 2023[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥42,461,936,731.34, down 5.44% from the end of the previous year[5] - The company's total assets decreased to ¥42,461,936,731.34 in Q1 2024 from ¥44,905,592,443.77 in Q1 2023, showing a contraction in asset base[18] - Current liabilities totaled ¥13,497,017,789.15 in Q1 2024, down from ¥16,617,097,308.07 in Q1 2023, indicating improved liquidity management[17] - Long-term borrowings increased to ¥1,635,051,252.68 in Q1 2024 from ¥1,506,722,291.78 in Q1 2023, suggesting a strategy to leverage debt for growth[17] Shareholder Information - Total number of common shareholders at the end of the reporting period was 78,224[10] - The largest shareholder, China National Offshore Oil Corporation, holds 8,300,000,000 shares, representing 81.65% of total shares[10] - Shareholders' equity attributable to the parent company increased by 2.14% to ¥25,153,422,185.86[5] - The company's equity attributable to shareholders rose to ¥25,153,422,185.86 in Q1 2024 from ¥24,627,548,847.92 in Q1 2023, reflecting a strengthening of shareholder value[17] Operational Highlights - The company reported a significant increase in technical service workload, contributing to the rise in net profit[8] - The company is actively pursuing market expansion and new product development, as indicated by ongoing investments in long-term assets and R&D[19] - The company has over ¥10 billion in available funds to support operations, capital expenditures, and dividend payments[8] Cost Management - Total operating costs for Q1 2024 were ¥8,715,524,273.12, down from ¥9,140,196,618.19 in Q1 2023, reflecting a cost reduction strategy[19] - Research and development expenses decreased to ¥165,738,353.66 in Q1 2024 from ¥188,849,389.28 in Q1 2023, indicating a focus on efficiency[19] Non-Recurring Items - Non-recurring gains and losses totaled ¥63,366,313.85, primarily due to government subsidies and VAT adjustments[7] - The company incurred a credit impairment loss of CNY 36,399,238.90 in Q1 2024, significantly higher than CNY 11,331,866.35 in Q1 2023[20] - The company reported a significant reduction in tax liabilities, with current tax payable at ¥449,904,237.81 compared to ¥838,526,180.90 in Q1 2023, reflecting effective tax management[17] Other Financial Metrics - The weighted average return on equity increased by 0.1826 percentage points to 2.0146%[5] - The company’s total comprehensive income for Q1 2024 was CNY 539,566,653.84, compared to CNY 412,817,770.39 in Q1 2023, indicating an increase of 30.7%[21]