XCEC(SH:600777) Zheng Quan Shi Bao Wang·2025-07-05 01:51Group 1: Company Performance - In 2024, the company achieved an operating income of 8.362 billion yuan and a net profit attributable to the parent company of 2.036 billion yuan, maintaining a stable development amidst industry challenges [2] - The company's net cash flow from operating activities was 7.233 billion yuan, showing a growth trend year-on-year [2] - As of the end of 2024, the total assets of the company reached 35.422 billion yuan, a year-on-year increase of 5.48%, marking five consecutive years of growth [2] Group 2: Oil and Gas Production - In 2024, the company set a historical record in oil and gas production, with a total production of 22.681 million barrels of oil equivalent, an increase of 1.88% year-on-year [3] - The reported crude oil production was 15.5503 million barrels, a decrease of 3.22% year-on-year, while natural gas production increased by 15.14% to 7.1307 million barrels of oil equivalent [3] Group 3: Audit Report Issues - The audit firm, Lixin, issued an audit report with a disclaimer of opinion for the company's 2024 financial report, citing insufficient evidence to form an opinion [4] - The company provided extensive documentation to Lixin, including 70 batches of 14,553 documents and facilitated 50 interviews, but still faced challenges in addressing the audit concerns [4][5] - The company highlighted that it had provided standard unqualified audit opinions from a top-ranked U.S. accounting firm for its U.S. subsidiary, indicating a disparity in audit opinions between U.S. and Chinese firms [5]