SSC(600871)2024-04-25 08:07Financial Performance - The company's operating revenue for Q1 2024 was RMB 18,533,340, representing a year-on-year increase of 3.3%[4] - The net profit attributable to shareholders for Q1 2024 was RMB 177,466, showing a significant increase of 22.1% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 135,847, which reflects a decrease of 17.2% year-on-year[4] - The basic and diluted earnings per share for Q1 2024 were both RMB 0.009, marking a 12.5% increase from the previous year[4] - The weighted average return on equity increased by 0.3 percentage points to 2.2%[4] - In Q1 2024, the company achieved a total operating revenue of RMB 18.53 billion, representing a year-on-year increase of 3.3% compared to RMB 17.94 billion in Q1 2023[18] - The net profit attributable to shareholders for Q1 2024 was RMB 180 million, reflecting a significant year-on-year growth of 22.1% from RMB 147 million in Q1 2023[13] - Operating profit for Q1 2024 was 351,859 thousand RMB, up 27.7% from 275,291 thousand RMB in the same period last year[20] - The company reported a total operating cost of RMB 18.33 billion in Q1 2024, which is an increase from RMB 17.68 billion in Q1 2023[18] Assets and Liabilities - Total assets at the end of Q1 2024 were RMB 74,636,563, a decrease of 0.7% from the end of the previous year[5] - The equity attributable to shareholders increased by 4.6% to RMB 8,389,683 compared to the end of the previous year[5] - The total liabilities decreased to RMB 66.25 billion as of March 31, 2024, compared to RMB 67.14 billion at the end of 2023[17] - The company's total assets as of March 31, 2024, were RMB 74.64 billion, slightly down from RMB 75.16 billion at the end of 2023[14] Cash Flow and Investments - Cash flow from operating activities showed a net outflow of 765,461 thousand RMB, compared to a smaller outflow of 521,584 thousand RMB in Q1 2023[22] - The company's investment activities resulted in a net cash outflow of 246,483 thousand RMB, an improvement from the outflow of 276,188 thousand RMB in Q1 2023[23] - Financing activities generated a net cash inflow of 81,260 thousand RMB, a decrease from 829,240 thousand RMB in the same quarter last year[23] - Cash and cash equivalents decreased to RMB 1.85 billion from RMB 2.82 billion at the end of 2023[16] - Cash and cash equivalents at the end of Q1 2024 stood at 1,855,808 thousand RMB, slightly up from 1,837,084 thousand RMB at the end of Q1 2023[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 113,316[8] - China Petroleum & Chemical Corporation held 56.51% of the shares, making it the largest shareholder[9] Research and Development - Research and development expenses surged to 511,540 thousand RMB, significantly higher than 210,757 thousand RMB in Q1 2023, indicating a focus on innovation[20] Contracts and Market Activity - The company signed new contracts totaling RMB 34.05 billion in Q1 2024, which is an 8.4% increase year-on-year, with RMB 19.54 billion coming from Sinopec Group, up 7.9%[13] - The company has strengthened its engineering technical service capabilities and is actively developing the market, with a focus on collaboration with oil companies[13] Non-Recurring Gains and Losses - Non-recurring gains and losses totaled RMB 41,619 for the period, with significant contributions from asset disposal gains and government subsidies[6] - The company’s long-term equity investments remained stable at RMB 551 million, slightly down from RMB 553 million at the end of 2023[16]