Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Sinopec Oilfield Service Corporation
(a joint stock limited company established in the People's Republic of China)
(Stock code: 1033)
First Quarterly Results 2021
This announcement is made by Sinopec Oilfield Service Corporation (the "Company") pursuant to Rule 13.09 (2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the relevant regulations issued by the Shanghai Stock Exchange (the "SSE").
The board of directors (the "Board") of the Company hereby presents the first quarterly results of the Company and its subsidiaries for the three months ended 31 March 2021.
§1. Important Highlights
- The Board and the Supervisory Committee of the Company and its directors, supervisors and senior management warrant that there are no false representations, misleading statements or material omissions in this quarterly report and individually and jointly accept full responsibility for the authenticity, accuracy and completeness of the information contained in this quarterly report.
- All directors of the Company attended the board meeting to consider this quarterly report.
- Mr. Chen Xikun, Chairman, Mr. Yuan Jianqiang, General Manager, Mr. Cheng Zhongyi, executive in charge of accounting work and Mr. Pei Defang, manager of the accounting department of the Company warranted the authenticity and completeness of the financial statements contained in this quarterly report.
- The Company's first quarterly financial report for 2021 is prepared in accordance with the PRC Accounting Standards for Business Enterprises and unaudited.
§2. Company Profile
2.1 Key financial data
1
As at | As at | Increase/(decrease) (%) | |||||||
31 March 2021 | 31 December 2020 | ||||||||
RMB'000 | RMB'000 | ||||||||
Total assets | 61,610,851 | 61,091,195 | 0.9 | ||||||
Total | equity | attributable | 7,001,848 | 6,722,866 | 4.1 | ||||
to equity shareholders of | |||||||||
the Company | |||||||||
For the three months | For the three months | Increase/(decrease) | |||||||
ended 31 March 2021 | ended 31 March 2020 | from corresponding | |||||||
RMB'000 | period of last year | ||||||||
RMB'000 | (%) | ||||||||
Net cash inflow from | -385,477 | -1,184,219 | |||||||
operating activities ("-" | Not applicable | ||||||||
for outflow) | |||||||||
For the three months | For the three months | Increase/(decrease) | |||||||
ended 31 March 2021 | ended 31 March 2020 | from | corresponding | ||||||
RMB'000 | RMB'000 | period of last year | |||||||
(%) | |||||||||
Operating income | 14,599,813 | 12,868,009 | 13.5 | ||||||
Net profit attributable to | 165,646 | -182,308 | Not applicable | ||||||
equity | shareholders | of | |||||||
the Company ("-" for | |||||||||
losses) | |||||||||
Net | profit | deducted | 130,487 | -215,842 | Not applicable | ||||
extraordinary | gain | and | |||||||
loss attributable to equity | |||||||||
shareholders | of | the | |||||||
Company ("-" for losses) | |||||||||
Weighted | average return | 2.4 | -2.70 | Increased | by | 5.1 | |||
on net assets | percentage points | ||||||||
Basic earnings per share | 0.01 | -0.01 | Not applicable | ||||||
(in RMB) ("-" for losses) | |||||||||
Diluted | earnings | per | 0.01 | -0.01 | Not applicable | ||||
share (in RMB) ("-" for | |||||||||
losses) |
Extraordinary gain and loss items | ||
√ Applicable | □Not Applicable | |
Amount during the reporting period | ||
Items | (From 1 January 2021 to 31 March | |
2021) | ||
RMB'000 | ||
Gains or losses from disposal of non-current assets | 2,229 | |
Government grants recognised in profit or loss during the | 15,086 | |
current period, except for government subsidies that are | ||
closely related to the company's normal business operations | ||
and that are in compliance with national policies and are | ||
subject to constant or fixed amount of certain standards | ||
Gains or losses from debt restructuring | 12,120 | |
Other non-operating income and expenses excluding the | 11,213 | |
aforesaid items | ||
2 |
Effect of income tax | -5,489 |
Total | 35,159 |
2.2 The number of shareholders of the Company at the end of this reporting period and details of the top ten shareholders and the top ten shareholders of shares without selling restrictions
Unit: Share | |||||||
The total number of | 116,983, of which the number of H shareholders was 338. | ||||||
shareholders at the end of | |||||||
this reporting period | |||||||
Shareholdings of the top ten shareholders | |||||||
Names of shareholders | Number of | Percent | Number of | Number of | Nature of | ||
shares held at | age to | shares with | pledged or | shareholders | |||
the end of the | total | selling | frozen share | ||||
reporting | share | restrictions | |||||
Shares | Amo | ||||||
period (shares) | capital | (shares) | |||||
status | unts | ||||||
(%) | |||||||
China Petrochemical | 10,727,896,364 | 56.51 | 0 | none | 0 | State-owned | |
Corporation 1 | legal person | ||||||
Hong Kong Securities | none | 0 | Overseas legal | ||||
Clearing Company | person | ||||||
(Nominees) Limited | 5,402,024,694 | 28.46 | 0 | ||||
("HKSCC (Nominees) | |||||||
Limited") 2 | |||||||
CITIC Limited | 1,035,000,000 | 5.45 | 0 | none | 0 | State-owned | |
legal person | |||||||
Donghai Fund-Industrial | 66,666,666 | 0.35 | 0 | none | 0 | Other | |
Bank-Huaxin | |||||||
Trust-Huizhi Investment | |||||||
No.49 Trust Plan | |||||||
Donghai Fund | 66,666,666 | 0.35 | 0 | none | 0 | Other | |
-Industrial Bank | |||||||
-HuaxinTrust-Huizhi | |||||||
Investment No.47 Trust | |||||||
Plan | |||||||
Hong Kong Securities | none | 0 | Other | ||||
Clearing Company | 53,036,641 | 0.28 | 0 | ||||
Limited3 | |||||||
China Minsheng Bank | none | 0 | Domestic | ||||
Corp., Ltd. | 37,599,799 | 0.20 | 0 | non-state-owne | |||
d legal person | |||||||
Hohhot Branch | |||||||
Changjiang Pension | 23,148,854 | 0.12 | 0 | none | 0 | Other | |
Insurance | |||||||
Co.,Ltd.-Changjiang | |||||||
Shengshi Huazhang | |||||||
No.2 Community | |||||||
Pension Management | |||||||
Fund4 |
3
Shanghai Tongneng | none | 0 | Domestic | ||||||||||
Investment Holdings Co., | 11,516,200 | 0.06 | 0 | non-state-owne | |||||||||
Ltd | d legal person | ||||||||||||
Anhui Yang | Guang Xin | none | 0 | Domestic | |||||||||
Tong | Electronic | 11,200,000 | 0.06 | 0 | non-state-owne | ||||||||
d legal person | |||||||||||||
Technology Co. Ltd | |||||||||||||
Shareholdings of the top ten shareholders of shares without selling restriction | |||||||||||||
Name of shareholders | Number of shares without | Type and Amount of shares | |||||||||||
selling restrictions held at the | |||||||||||||
end of the reporting period | Type | Amount | |||||||||||
(shares) | |||||||||||||
China Petrochemical Corporation | 10,727,896,364 | A shares | 10,727,896,364 | ||||||||||
HKSCC (Nominees) Limited | 5,402,024,694 | H shares | 5,402,024,694 | ||||||||||
CITIC Limited | 1,035,000,000 | A shares | 1,035,000,000 | ||||||||||
Donghai Fund-Industrial | 66,666,666 | A shares | 66,666,666 | ||||||||||
Bank-HuaxinTrust-Huizhi | |||||||||||||
Investment No.49 Trust Plan | |||||||||||||
Donghai Fund-Industrial Bank | 66,666,666 | A shares | 66,666,666 | ||||||||||
-HuaxinTrust-Huizhi Investment | |||||||||||||
No.47 Trust Plan | |||||||||||||
Hong Kong Securities Clearing | 53,036,641 | A shares | 53,036,641 | ||||||||||
Company Limited | |||||||||||||
China Minsheng Bank Corp., Ltd. | 37,599,799 | A shares | 37,599,799 | ||||||||||
Hohhot Branch | |||||||||||||
Changjiang Pension Insurance | |||||||||||||
Co.,Ltd.-Changjiang Shengshi | 23,148,854 | A shares | 23,148,854 | ||||||||||
Huazhang No.2 Community Pension | |||||||||||||
Management Fund | |||||||||||||
Shanghai Tongneng Investment | 11,516,200 | A shares | 11,516,200 | ||||||||||
Holdings Co., Ltd | |||||||||||||
Anhui Yang Guang Xin Tong | 11,200,000 | A shares | 11,200,000 | ||||||||||
Electronic Technology Co. Ltd | |||||||||||||
Except that "Donghai Fund- Industrial Bank-Huaxin Trust - | |||||||||||||
Statement on the connected | Huizhi Investment No.49 Trust Plan" and "Donghai Fund- | ||||||||||||
Industrial Bank-Huaxin Trust - Huizhi Investment No.47 Trust | |||||||||||||
relationship or activities in concert | |||||||||||||
Plan" belong to Donghai Fund Management Limited Company, | |||||||||||||
among the above-mentioned | |||||||||||||
the Company is not aware of that there is any connected | |||||||||||||
shareholders | |||||||||||||
relationship or activities in concert among the above-mentioned | |||||||||||||
shareholders. | |||||||||||||
Preferred shareholders with restored | The company has no outstanding preferred shares. | ||||||||||||
voting rights | |||||||||||||
Note:
-
China Petrochemical Corporation held 2,595,786,987 H shares of the Company through Sinopec Century Bright Capital Investment, Ltd., an overseas wholly-owned subsidiary, such H shares were included in the total number of shares held by HKSCC (Nominees) Limited
2."HKSCC (Nominees) Limited" is a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited, acts as an agent to hold H shares of the Company on behalf of other companies or individual shareholders.
- Hong Kong Securities Clearing Company Limited is a wholly-owned subsidiary of Hong
4
Kong Exchanges and Clearing Limited, acts as an nominal holder to hold A shares of the Company in the Shanghai Stock Exchange on behalf of the investors of the Hong Kong Stock Exchange.
4. Changjiang Pension Insurance Co., Ltd held it on behalf of Qi Xin Gong Ying Scheme.
2.3 Total number preferred shareholders, top 10 preferred shareholders and top 10 holders of preference shares without selling restriction as at the end of the reporting period
□Applicable | √Not applicable |
§3. Significant Events
3.1 Significant changes of key accounting items and financial indices and the reasons for the changes
√Applicable □Not applicable
Item | As at 31 | As at 31 | Change | |||||||||||||
March 2021 | December 2020 | |||||||||||||||
RMB '000 | RMB '000 | (%) | ||||||||||||||
Inventories | 1,389,212 | 1,033,678 | 34.4 | Mainly due to the increase in | ||||||||||||
unfinished labor projects | ||||||||||||||||
Contract liabilities | 2,117,574 | 3,024,461 | -30.0 | mainly due to the progress of | ||||||||||||
projects and the fulfillment of | ||||||||||||||||
contract obligations | ||||||||||||||||
Taxes payable | 443,076 | 724,389 | -38.8 | Mainly due to the decrease in | ||||||||||||
value-added tax and personal | ||||||||||||||||
income tax payable | ||||||||||||||||
Long-term payable | 53,099 | 26,812 | 98.0 | Mainly due to the return of the | ||||||||||||
security fund | ||||||||||||||||
Special reserve | 371,859 | 258,523 | 43.8 | Mainly due to the increase in | ||||||||||||
income and the amount of | ||||||||||||||||
accrual is greater than the | ||||||||||||||||
amount of expenditure | ||||||||||||||||
Item | For the three months ended | Change | ||||||||||||||
31 March | Reason for change | |||||||||||||||
2021 | 2020 | (%) | ||||||||||||||
RMB '000 | RMB'000 | |||||||||||||||
Research | and | Mainly due to the arrangement | ||||||||||||||
development expenses | of | internal | reform | and | ||||||||||||
85,824 | 167,581 | -48.8 | reorganization of the R&D | |||||||||||||
project was later than the same | ||||||||||||||||
period last year | ||||||||||||||||
Credit impairment losses | The reversal of bad debt | |||||||||||||||
("-" for losses) | provision due to recovery of | |||||||||||||||
18,343 | 883 | 1977.3 | accounts receivable is | higher | ||||||||||||
compared with the same period | ||||||||||||||||
of last year | ||||||||||||||||
Gains | from | assets | 2,229 | 214 | 941.6 | Mainly due to the disposal of | ||||||||||
disposal | marine work ships | |||||||||||||||
5
Non-operating income | Mainly due to the year-on-year | ||||||||
13,478 | 3,952 | 241.0 | increase in Payables that do not | ||||||
need to be paid and indemnity | |||||||||
income for breach of contract | |||||||||
Non-operating expenses | Mainly due to the year-on-year | ||||||||
2,265 | 4,433 | -48.9 | decrease | in | donation | ||||
expenditures | |||||||||
Net | cash | flow | from | Not | Mainly due to the increase in | ||||
operating activities | -385,477 | -1,184,219 | sales receipts | in the | current | ||||
applicable | period and the improvement in | ||||||||
operating cash | |||||||||
Net | cash | flow | from | Not | Mainly due to the year-on-year | ||||
investing activities | -46,930 | -149,791 | decrease in equipment purchase | ||||||
applicable | |||||||||
expenses | |||||||||
Net | cash | flow | from | 493,225 | 1,654,034 | -70.2 | Mainly due to the year-on-year | ||
financing activities | decline in loan growth | ||||||||
- The progress of significant events and their impacts as well as the analysis and explanations for the solutions
□Applicable □√Not applicable - Non-performanceof undertakings during the reporting period
□Applicable | √Not applicable |
3.4 Warnings on potential fluctuation from the net profit to the loss for the period from the beginning of the year to the end of next reporting period or significant changes as compared with the same period of the preceding year
□Applicable | √Not applicable |
By order of the Board Chen Xikun Chairman
27 April 2021, Beijing
As at the date of this announcement, the Board of Directors comprises Mr. Chen Xikun#, Mr. Yuan Jianqiang#, Mr. Lu Baoping+, Mr. Fan Zhonghai+, Mr. Wei Ran+, Mr. Zhou Meiyun+, Mr. Chen Weidong*, Mr. Dong Xiucheng* and Mr. Zheng Weijun*.
# Executive Director
+ Non-Executive Director
* Independent Non-Executive Director
6
§4 Appendix
4.1 Financial statements
Consolidated Balance Sheet
As at 31 March 2021
Sinopec Oilfield Service Corporation
(Expressed in thousands of renminbi yuan and unaudited)
item | As at 31 March 2021 | As at 31 December 2020 |
Current assets: | ||
Cash at bank and on hand | 1,607,539 | 1,551,458 |
Bills receivable | 0 | 0 |
Accounts receivable | 7,943,065 | 9,358,385 |
Accounts receivable financing | 1,088,314 | 1,323,425 |
Prepayments | 456,620 | 441,654 |
Other receivables | 2,515,995 | 2,464,362 |
Including: Interest receivables | ||
Dividend receivables | 502 | 502 |
Inventories | 1,389,212 | 1,033,678 |
Contract assets | 14,391,180 | 11,610,888 |
Assets classified as held for sale | ||
Non-current assets due within one year | ||
Other current assets | 2,080,229 | 1,995,808 |
Total current assets | 31,472,154 | 29,779,658 |
Non-current assets: | ||
Long-term receivable | ||
Long-term equity investments | 42,666 | 43,046 |
Other equity instrument investments | 22,835 | 22,835 |
Fixed assets | 22,216,414 | 22,939,838 |
Construction in progress | 255,015 | 284,292 |
Right-of-use asset | 1,265,066 | 1,265,583 |
Intangible assets | 480,257 | 504,966 |
Long-term deferred expenses | 5,460,692 | 5,855,143 |
Deferred income tax assets | 395,752 | 395,834 |
Other non-current assets | ||
Total non-current assets | 30,138,697 | 31,311,537 |
Total assets | 61,610,851 | 61,091,195 |
Current liabilities: | ||
Short-term loans | 20,136,106 | 19,370,520 |
Bills payable | 8,022,904 | 6,305,228 |
Accounts payable | 18,895,687 | 20,497,509 |
Advances from customers | ||
7
Contract liabilities | 2,117,574 | 3,024,461 | ||||
Employee benefits payable | 522,687 | 498,071 | ||||
Taxes payable | 443,076 | 724,389 | ||||
Other payables | 2,169,923 | 1,675,104 | ||||
Including: Interest payable | 1,612 | 17,458 | ||||
Dividend payable | ||||||
Liabilities classified as held for sale | ||||||
Non-current liabilities due within | one | 363,757 | 356,747 | |||
year | ||||||
Other current liabilities | ||||||
Total current liabilities | 52,671,714 | 52,452,029 | ||||
Non-current liabilities: | ||||||
Long-term loans | 584,846 | 580,716 | ||||
Lease liability | 897,949 | 898,469 | ||||
Long-term payable | 53,099 | 26,812 | ||||
long-term employment benefits payable | ||||||
Provisions | 373,427 | 382,646 | ||||
Deferred income | 14,497 | 14,186 | ||||
Deferred tax liabilities | 13,471 | 13,471 | ||||
Other non-current liabilities | ||||||
Total non-current liabilities | 1,937,289 | 1,916,300 | ||||
Total liabilities | 54,609,003 | 54,368,329 | ||||
Shareholders' equity: | ||||||
Share capital | 18,984,340 | 18,984,340 | ||||
Capital reserve | 11,717,773 | 11,717,773 | ||||
Other comprehensive income | -2,014 | -2,014 | ||||
Specific reserve | 371,859 | 258,523 | ||||
Surplus reserve | 200,383 | 200,383 | ||||
Retained earnings | -24,270,493 | -24,436,139 | ||||
Equity attributable to shareholders of the | 7,001,848 | 6,722,866 | ||||
Company | ||||||
Minority interests | ||||||
Total shareholders' equity | 7,001,848 | 6,722,866 | ||||
Total liabilities and shareholders' equity | 61,610,851 | 61,091,195 | ||||
Legal Representative: Mr. Chen Xikun | General Manager: Mr. Yuan Jianqiang | |||||
Executive in charge of accounting work: Mr. Cheng Zhongyi | Manager of accounting department: Mr. Pei Defang |
Company Balance Sheet
As at 31 March 2021
Sinopec Oilfield Service Corporation
(Expressed in thousands of renminbi yuan and unaudited)
item | As at 31 March 2021 | As at 31 December 2020 |
8
Current assets: | ||
Cash at bank and on hand | 157 | 159 |
Bills receivable | ||
Accounts receivable | ||
Accounts receivable financing | ||
Prepayments | ||
Other receivables | 4,383,081 | 4,396,431 |
Including: Interest receivables | ||
Dividend receivables | ||
Inventories | ||
Contract assets | ||
Assets classified as held for sale | ||
Non-current assets due within one year | ||
Other current assets | 167 | 167 |
Total current assets | 4,383,405 | 4,396,757 |
Non-current assets: | ||
Long-term receivable | ||
Long-term equity investments | 27,891,662 | 27,891,662 |
Other equity instrument investments | ||
Fixed assets | ||
Construction in progress | ||
Right-of-use asset | ||
Intangible assets | ||
Long-term deferred expenses | ||
Deferred income tax assets | ||
Other non-current assets | ||
Total non-current assets | 27,891,662 | 27,891,662 |
Total assets | 32,275,067 | 32,288,419 |
Current liabilities: | ||
Short-term loans | ||
Bills payable | ||
Accounts payable | 11,800 | 11,800 |
Advances from customers | ||
Contract liabilities | ||
Employee benefits payable | ||
Taxes payable | 26,690 | 26,661 |
Other payables | 148 | 13,306 |
Including: Interest payable | ||
Dividend payable | ||
Non-current liabilities due within one year | ||
Other current liabilities | ||
Total current liabilities | 38,638 | 51,767 |
9
Non-current liabilities: | ||||||
Long-term loans | ||||||
Lease liability | ||||||
Long-term payable | ||||||
long-term employment benefits payable | ||||||
Provisions | ||||||
Deferred income | ||||||
Deferred tax liabilities | ||||||
Other non-current liabilities | ||||||
Total non-current liabilities | 0 | 0 | ||||
Total liabilities | 38,638 | 51,767 | ||||
Shareholders' equity: | ||||||
Share capital | 18,984,340 | 18,984,340 | ||||
Capital reserve | 14,568,016 | 14,568,016 | ||||
Surplus reserve | 200,383 | 200,383 | ||||
Retained earnings | -1,516,310 | -1,516,087 | ||||
Total shareholders' equity | 32,236,429 | 32,236,652 | ||||
Total liabilities and shareholders' equity | 32,275,067 | 32,288,419 | ||||
Legal Representative: Mr. Chen Xikun | General Manager: Mr. Yuan Jianqiang | |||||
Executive in charge of accounting work: Mr. Cheng Zhongyi | Manager of accounting department: Mr. Pei Defang |
Consolidated Income Statement
For the three months ended 31 March 2021
Sinopec Oilfield Service Corporation
(Expressed in thousands of renminbi yuan and unaudited)
Item | For the three months | For the three months | |||
ended 31 March 2021 | ended 31 March 2020 | ||||
1. Total Operating Income | 14,599,813 | 12,868,009 | |||
Including: Operating Income | 14,599,813 | 12,868,009 | |||
2. Total Operating Costs | 14,501,612 | 13,095,775 | |||
Including: Operating Costs | 13,759,222 | 12,228,462 | |||
Business taxes and surcharges | 50,429 | 45,382 | |||
Selling and distribution expenses | 16,374 | 13,020 | |||
General and administrative expenses | 414,589 | 422,271 | |||
Research and development expenses | 85,824 | 167,581 | |||
Finance expenses | 175,174 | 219,059 | |||
Including: Interest expenses | 162,021 | 229,533 | |||
Interest income | 9,034 | 2,924 | |||
Add: Other income | 48,339 | 61,436 | |||
Investment income ("-" for losses) | 11,740 | 14,825 | |||
Including: | Investment | income | in | -380 | -589 |
associates and joint ventures | |||||
Gain from | derecognition | of financial | 12,120 | 15,414 | |
10
assets measured at amortized cost ("-" for losses) | |||||||
Exchange gains ("-" for losses) | |||||||
Gains from changes in fair value ("-" for | |||||||
losses) | |||||||
Credit impairment losses ("-" for losses) | 18,343 | 883 | |||||
Impairment of assets | ("-" for losses) | 27 | 36 | ||||
Gains from assets | disposal | ("-" for | 2,229 | 214 | |||
losses) | |||||||
3. Operating profit ("-" for losses) | 178,879 | -150,372 | |||||
Add: Non-operating income | 13,478 | 3,952 | |||||
Less: Non-operating expenses | 2,265 | 4,433 | |||||
4. Total profit ("-" for losses) | 190,092 | -150,853 | |||||
Less: Income tax expenses | 24,446 | 31,455 | |||||
5. Net profit for the period ("-" for losses) | 165,646 | -182,308 | |||||
(1) Classification according to operation | |||||||
continuity | |||||||
Including: Net profit from continuing operations | 165,646 | -182,308 | |||||
("-" for net loss) | |||||||
Net profit from discontinued operations ("-" for | |||||||
net loss) | |||||||
(2) Classification according to attribute | |||||||
Including: Shareholders of the company ("-" for | 165,646 | -182,308 | |||||
net loss) | |||||||
Non-controlling interests ("-" for net loss) | |||||||
6. Other comprehensive net income after tax | 0 | 0 | |||||
7. Total comprehensive income for the period | 165,646 | -182,308 | |||||
Attributable to the owners of parent company | 165,646 | -182,308 | |||||
Attributable to minority shareholders of the | |||||||
Company | |||||||
8. Earnings per share: | |||||||
(1) Basic earnings per share (in RMB) | 0.01 | -0.01 | |||||
(2) Diluted earnings per share (in RMB) | 0.01 | -0.01 | |||||
Profit from combined party before business combination under common control was RMB 0 during the | |||||||
current period. Profit from combined party before business combination under common control was RMB 0 | |||||||
during the prior period. | |||||||
Legal Representative: Mr. Chen Xikun | General Manager: Mr. Yuan Jianqiang | ||||||
Executive in charge of accounting work: Mr. Cheng Zhongyi | Manager of accounting department: Mr. Pei Defang |
Company Income Statement
For the three months ended 31 March 2021
Sinopec Oilfield Service Corporation
(Expressed in thousands of renminbi yuan and unaudited)
Item | For the three months | For the three months |
ended 31 March 2021 | ended 31 March 2020 | |
11
1. Operating Income | ||||||
Less: Operating Costs | ||||||
Business taxes and surcharges | ||||||
Selling and distribution expenses | ||||||
General and administrative expenses | 221 | 131 | ||||
Research and development expenses | ||||||
Finance expenses | 2 | 1 | ||||
Including: Interest expenses | ||||||
Interest income | ||||||
Add: Other income | ||||||
Investment income ("-" for losses) | ||||||
Including: Investment income in associates | ||||||
and joint ventures | ||||||
Gain from derecognition of financial assets | ||||||
measured at amortized cost ("-" for losses) | ||||||
Gains from changes in fair value ("-" for | ||||||
losses) | ||||||
Credit impairment losses ("-" for losses) | ||||||
Impairment of assets ("-" for losses) | ||||||
Gains from assets disposal | ("-" for | |||||
losses) | ||||||
2. Operating profit ("-" for losses) | -223 | -132 | ||||
Add: Non-operating income | ||||||
Less: Non-operating expenses | ||||||
3. Total profit ("-" for losses) | -223 | -132 | ||||
Less: Income tax expenses | ||||||
4. Net profit for the period ("-" for losses) | -223 | -132 | ||||
Including: Net profit from continuing operations | -223 | -132 | ||||
("-" for net loss) | ||||||
Net profit from discontinued operations ("-" for | ||||||
net loss) | ||||||
5. Other comprehensive net income after tax | 0 | 0 | ||||
6. Total comprehensive income for the period | -223 | -132 | ||||
7. Earnings per share: | ||||||
(1) Basic earnings per share (in RMB) | ||||||
(2) Diluted earnings per share (in RMB) | ||||||
Legal Representative: Mr. Chen Xikun | General Manager: Mr. Yuan Jianqiang | |||||
Executive in charge of accounting work: Mr. Cheng Zhongyi | Manager of accounting department: Mr. Pei Defang |
Consolidated Cash Flow Statement
For the three months ended 31 March 2021
Sinopec Oilfield Service Corporation
(Expressed in thousands of renminbi yuan and unaudited)
12
Item | For the three months ended | For the three months ended | ||||||
31 March 2021 | 31 March 2020 | |||||||
1. | Cash flows from operating activities: | |||||||
Cash received | from | sale of | goods and | 10,455,420 | 9,332,441 | |||
rendering of services | ||||||||
Refund of taxes | 57,415 | 55 | ||||||
Cash received relating to other operating | 3,081,251 | 2,937,129 | ||||||
activities | ||||||||
Sub-total of cash inflows | 13,594,086 | 12,269,625 | ||||||
Cash paid for goods and services | 8,385,505 | 8,050,804 | ||||||
Cash paid to and for employees | 2,739,232 | 2,907,557 | ||||||
Cash paid for all types of taxes | 322,109 | 250,890 | ||||||
Cash paid | relating | to | other | operating | 2,532,717 | 2,244,593 | ||
activities | ||||||||
Sub-total of cash outflows | 13,979,563 | 13,453,844 | ||||||
Net | cash | flow | from | operating | -385,477 | -1,184,219 | ||
activities (outflow listed with "-") | ||||||||
2. | Cash flows from investing activities: | |||||||
Cash received from disposal of | ||||||||
investment | ||||||||
Cash received from investment income | ||||||||
Net cash received from disposal of fixed | 29 | |||||||
assets, intangible assets and other long-term | 8,519 | |||||||
assets | ||||||||
Net cash received from disposal of | ||||||||
subsidiaries and other business units | ||||||||
Cash received relating to other investing | ||||||||
activities | ||||||||
Sub-total of cash inflows | 8,519 | 29 | ||||||
Cash paid for acquisition of fixed assets, | 55,449 | 149,811 | ||||||
intangible assets and other long-term assets | ||||||||
Cash paid for the investments | 9 | |||||||
Net cash paid for acquisition of | ||||||||
subsidiaries and other business units | ||||||||
Cash paid relating to other investing | ||||||||
activities | ||||||||
Sub-total of cash outflows | 55,449 | 149,820 | ||||||
Net | cash | flow | from | investing | -46,930 | -149,791 | ||
activities (outflow listed with "-") | ||||||||
3. | Cash flows from financing activities: | |||||||
Cash received from the acquisition of | ||||||||
investments | ||||||||
Including: Cash received from investment | ||||||||
absorbed from minority shareholders by the | ||||||||
subsidiary | ||||||||
Cash received from borrowings | 12,756,356 | 14,299,046 | ||||||
Cash received relating to other financing | ||||||||
activities | ||||||||
Sub-total of cash inflows | 12,756,356 | 14,299,046 | ||||||
Cash paid for repayments of borrowings | 12,004,873 | 12,339,115 | ||||||
13
Cash | paid | for distribution | of | dividend, | 148,976 | 211,705 | |||
profit or payments of interests | |||||||||
Including: | Cash | paid | to | minority | |||||
shareholders for dividend and profit by the | |||||||||
subsidiary | |||||||||
Cash | paid | relating | to other | financing | 109,282 | 94,192 | |||
activities | |||||||||
Sub-total of cash outflows | 12,263,131 | 12,645,012 | |||||||
Net cash flow from financing activities | 493,225 | 1,654,034 | |||||||
4. Effect of exchange rate changes on cash | 23,369 | 111 | |||||||
and cash equivalents | |||||||||
5. Net | increase | in | cash | and | cash | 84,187 | 320,135 | ||
equivalents | |||||||||
Add: Cash | and | cash equivalents at the | 1,523,352 | 1,650,732 | |||||
beginning of the period | |||||||||
6、Cash and cash equivalents at the end of | 1,607,539 | 1,970,867 | |||||||
the period | |||||||||
Legal Representative: Mr. Chen Xikun | General Manager: Mr. Yuan Jianqiang |
Executive in charge of accounting work: Mr. Cheng Zhongyi Manager of accounting department: Mr. Pei Defang
Company Cash Flow Statement
For the three months ended 31 March 2021
Sinopec Oilfield Service Corporation
(Expressed in thousands of renminbi yuan and unaudited)
Item | For the three months ended | For the three months ended | |||
31 March 2021 | 31 March 2020 | ||||
1. | Cash flows from operating activities: | ||||
Cash received from sale of goods and | |||||
rendering of services | |||||
Refund of taxes | |||||
Cash received relating to other operating | |||||
activities | |||||
Sub-total of cash inflows | 0 | ||||
Cash paid for goods and services | |||||
Cash paid to and for employees | |||||
Cash paid for all types of taxes | |||||
Cash paid relating to | other | operating | 2 | 7 | |
activities | |||||
Sub-total of cash outflows | 2 | 7 | |||
Net cash inflow | from | operating | -2 | -7 | |
activities (outflow listed with "-") | |||||
2. | Cash flows from investing activities: | ||||
Cash received from disposal of investment | |||||
Cash received from investment income | |||||
Net cash received from disposal of fixed | |||||
assets, intangible assets and other long-term | |||||
assets | |||||
Net cash received from disposal of | |||||
subsidiaries and other business units | |||||
Cash received relating to other investing | |||||
activities | |||||
Sub-total of cash inflows |
14
Cash paid for acquisition of fixed assets, | |||||||||
intangible assets and other long-term assets | |||||||||
Cash paid for the investments | |||||||||
Net cash paid for acquisition of | |||||||||
subsidiaries and other business units | |||||||||
Cash paid relating to other investing | |||||||||
activities | |||||||||
Sub-total of cash outflows | |||||||||
Net cash inflow from investing | |||||||||
activities (outflow listed with "-") | |||||||||
3. | Cash flows from financing activities: | ||||||||
Cash received from the acquisition of | |||||||||
investments | |||||||||
Cash received from borrowings | |||||||||
Cash received relating to other financing | |||||||||
activities | |||||||||
Sub-total of cash inflows | |||||||||
Cash repayments of borrowings | |||||||||
Cash paid for distribution of dividend, | |||||||||
profit or payments of interests | |||||||||
Cash paid relating to other financing | |||||||||
activities | |||||||||
Sub-total of cash outflows | |||||||||
Net cash inflow from financing | |||||||||
activities | |||||||||
4. Effect of exchange rate changes on cash | |||||||||
and cash equivalents | |||||||||
5. | Net increase | in | cash and | cash | -2 | -7 | |||
equivalents | |||||||||
Add: Cash and | cash | equivalents | at the | 159 | 170 | ||||
beginning of the period | |||||||||
6、Cash and cash equivalents at the end of | 157 | 163 | |||||||
the period | |||||||||
Legal Representative: Mr. Chen Xikun | General Manager: Mr. Yuan Jianqiang | ||||||||
Executive in charge of accounting work: Mr. Cheng Zhongyi | Manager of accounting department: Mr. Pei Defang |
4.2 The adjustment of the relevant items of the financial statements for the first time implementation of new income standards and new lease standards since 2021
- Applicable √ Not applicable
4.3 Explanation of retrospective adjustment of comparative information of the previous period by the first implementation of the new financial instrument standards or the new revenue standards
- Applicable √Not applicable
4.4 Audit report
- Applicable √Not applicable
15
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Sinopec Oilfield Service Corp. published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 08:56:02 UTC.