COSL(02883)2024-04-25 08:49Financial Performance - The company's operating revenue for Q1 2024 reached RMB 10,148 million, representing a 20.0% increase compared to the same period last year[7]. - Net profit attributable to shareholders was RMB 635.5 million, a significant increase of 57.3% year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 655.7 million, up 69.5% from the previous year[7]. - The basic and diluted earnings per share were both RMB 0.13, reflecting a 62.5% increase compared to the same period last year[10]. - The total profit for the same period was RMB 940.1 million, with a year-on-year growth of 47.8%[17]. - Net profit for Q1 2024 was RMB 690.6 million, reflecting a year-on-year increase of 51.3%[17]. - Total revenue for Q1 2024 reached ¥10,147,976,009, an increase of 19.9% compared to ¥8,456,256,979 in Q1 2023[29]. - Operating profit for Q1 2024 was ¥1,001,144,665, up 52% from ¥659,384,434 in Q1 2023[30]. - Net profit for Q1 2024 was ¥690,643,205, representing a 51.3% increase from ¥456,372,992 in Q1 2023[30]. - Basic earnings per share for Q1 2024 were ¥0.1332, compared to ¥0.0847 in Q1 2023[30]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 82,463.1 million, a decrease of 0.9% from the end of the previous year[8]. - Total assets as of March 31, 2024, were ¥82,463,076,897, a decrease from ¥83,245,834,646 as of December 31, 2023[26]. - Total liabilities decreased to ¥39,465,403,138 from ¥40,989,728,253 in the previous quarter[26]. - The company reported a decrease in total current liabilities to ¥22,016,202,576 from ¥23,364,629,211 in the previous quarter[26]. - The company maintained a stable long-term debt level with long-term borrowings at ¥2,803,379,925, slightly down from ¥2,806,392,004[26]. Cash Flow - The net cash flow from operating activities was a negative RMB 835.0 million, compared to a negative RMB 96.2 million in the same period last year[9]. - In Q1 2024, the cash inflow from operating activities was CNY 8,590,381,976, an increase of 10.7% compared to CNY 7,752,592,846 in Q1 2023[33]. - The net cash flow from operating activities was negative CNY 834,951,230, worsening from negative CNY 96,217,098 in the same period last year[33]. - Cash inflow from investment activities totaled CNY 3,230,193,901, significantly up from CNY 1,038,468,095 in Q1 2023[33]. - The net cash flow from investment activities was negative CNY 333,915,883, compared to negative CNY 15,050,075 in Q1 2023[33]. - Cash outflow from financing activities was CNY 922,579,343, increasing from CNY 288,821,134 in the previous year[33]. - The ending cash and cash equivalents balance was CNY 3,881,974,138, up from CNY 3,162,511,233 in Q1 2023[33]. - Cash and cash equivalents amounted to ¥4,444,148,454, down from ¥6,539,076,538 at the end of 2023[25]. Shareholder Information - The company reported a total of 43,435 common shareholders at the end of the reporting period[12]. - The largest shareholder, China National Offshore Oil Corporation, holds 50.53% of the shares[12]. Operational Metrics - The number of drilling service operation days was 4,388, a decrease of 1.7% compared to the previous year[18]. - The utilization rate for self-elevating drilling platforms was 84.3%, down 3.9 percentage points year-on-year[18]. - The company operated 172 vessels in its marine services segment, with a total of 14,227 operation days, an increase of 3.9% year-on-year[21]. - The three-dimensional seismic acquisition increased to 6,696 square kilometers, a significant rise of 502.7% year-on-year[20]. Innovation and Sustainability - The company is actively enhancing its core competitiveness and expanding its global market presence, contributing to the increase in revenue and profit[9]. - The company is focusing on enhancing its technological innovation capabilities and has seen growth in its oilfield technology services[21]. - The overall revenue scale for oilfield technology services continues to show an upward trend[21]. - The company expects its LNG-powered guard vessels to reduce carbon emissions by 12,000 tons annually[21]. Research and Development - Research and development expenses increased to ¥334,360,621 in Q1 2024, compared to ¥235,932,638 in Q1 2023, reflecting a focus on innovation[29]. Accounting Standards - The company did not apply new accounting standards for the first quarter of 2024[34].