榮盛石化：2025FirstQuarterlyReport.PDF

1、 2025 First Quarterly Report 1 Stock code:002493 Stock abbreviation:Rongsheng Petrochemical Announcement No.:2025-030 Rongsheng Petrochemical Co.,Ltd.2025 First Quarterly Report The Company and all members of the Board of Directors warrant that the information disclosed is true,accurate and complete

2、,and has no false representations,misleading statements or material omissions.Important notice:1.The Board of Directors,the Board of Supervisors and the directors,supervisors and senior management warrant that the quarterly report is true,accurate,and complete and has no false representations,mislea

3、ding statements or material omissions,and assume several and joint liabilities.2.The person in charge of the Company,the person in charge of the accounting affairs and the person in charge of the accounting firm(accounting officer),hereby make representations in respect of the truthfulness,accuracy

4、and completeness of the financial statements in this quarterly report.3.Whether the First Quarterly Report has been audited Yes No I.Key Financial Data(I)Key accounting data and financial indicators Whether the Company needs to retroactively adjust or restate prior years accounting data Yes No Curre

5、nt reporting period Same period last year Increase/decrease in the current reporting period over the same period last year(%)Operating revenue(RMB)74,975,429,161.64 81,088,312,171.89-7.54%Net profit attributable to owners of parent company(RMB)588,401,349.75 552,356,783.62 6.53%Net profit attributab

6、le to owners of parent company net of non-recurring gain and loss(RMB)618,349,603.39 474,627,417.74 30.28%Net cash flows from operating activities 7,977,336,348.96 4,129,270,983.86 93.19%2025 First Quarterly Report 2(RMB)Basic earnings per share(RMB per share)0.06 0.06 Diluted earnings per share(RMB

7、 per share)0.06 0.06 Weighted average return on net assets 1.33%1.24%0.09%End of the reporting period End of last year Increase/decrease at the end of the reporting period over the end of last year(%)Total assets(RMB)391,005,092,490.96 377,845,944,183.98 3.48%Total equity attributable to the parent

8、company(RMB)44,359,664,314.69 43,859,172,287.65 1.14%(II)Items and amounts of non-recurring gain and loss Applicable Not applicable Unit:RMB Item Amount in the current reporting period Notes Government grants included in the current profits and losses(except those closely related to the Companys nor

9、mal business operations,which are in line with national policies,enjoyed according to certain standards,and have a continuous impact on the Companys profits and losses)29,345,677.03 Except for the effective hedging business related to the Companys normal business,the gains and losses of the fair val

10、ue changes arising from financial assets and financial liabilities held by non-financial enterprises and the gains and losses arising from the disposal of financial assets and financial liabilities-56,196,028.02 Fund possession cost included in the current gains and losses charged to non-financial e

11、nterprises 87,877.35 Other non-operating revenues and expenditures except for the aforementioned items-12,923,599.03 Other gain/loss items falling within the definition of non-recurring gains or losses-2,627,101.15 Less:Affected amount of income tax 14,103,703.22 Affected amount of minority sharehol

12、ders equity(after tax)-26,468,623.40 Total-29,948,253.64-Other gain/loss items falling within the definition of non-recurring gains or losses Applicable Not applicable The Company has no other gain/loss items falling within the definition of non-recurring gains or losses.Explanation of the circumsta

13、nces in which the non-recurring gain and loss items listed in the Explanatory Announcement No.1 on Information Disclosure of Companies Publicly Issuing Securities-Non-recurring Gains and Losses are defined as recurring gains and losses.Applicable Not applicable The Company has no explanation of the

14、circumstances in which the non-recurring gain and loss items listed in the Explanatory Announcement No.1 on Information Disclosure of Companies Publicly Issuing Securities-Non-recurring Gains and Losses are defined as recurring gains and losses.2025 First Quarterly Report 3(III)Changes in key accoun

15、ting data and financial indicators and reasons thereof Applicable Not applicable Items of the Balance Sheet Balance at the end of this reporting period(RMB 0,000)Balance at the end of the reporting period in the previous year(RMB 0,000)Variations Reasons for changes Receivables financing 35,762.96 1

16、0,322.57 246.45%Mainly due to the increase in bank acceptance bills received for the Companys payment of goods Advances paid 341,232.67 135,451.97 151.92%Mainly due to the increase in the Companys prepayments for raw materials Derivative financial liabilities 864.44 3,465.54-75.06%Mainly due to the

17、floating position of the Companys paper futures held at the end of the current period Contract liabilities 372,149.06 599,558.05-37.93%Mainly due to changes in advance payments of the Company Taxes and rates payable 216,185.72 127,786.25 69.18%Mainly due to the increase in consumption tax payable at

18、 the end of this period Other current liabilities 46,648.44 74,235.19 37.16%Mainly due to the corresponding tax impact from the decrease in advance payments of the Company Items of the Income Statement From the beginning of the year to the end of the reporting period(RMB 0,000)Same period last year(

19、RMB 0,000)Variations Reasons for changes Gains on changes in fair value(or less:losses)-10,991.67 2,525.85-535.17%Mainly due to fair value change of held-for-trading financial liabilities of the Company Other income 82,268.99 35,242.18 133.44%Mainly due to the benefit from the additional VAT deducti

20、on policy of the Company in this period Investment income 14,941.37-2,990.56 599.62%Mainly due to the discount expenses such as notes receivable transferred to financing expenses according to the new guide of the Company Credit impairment loss 904.31-4,826.33 118.74%Mainly due to the collection of a

21、ccounts receivable from the beginning of the year,leading to corresponding adjustments in bad debt provisions Assets impairment loss-8,649.73-98.17-8711.04%Mainly due to the inventories with provision for inventory write-down Non-operating expenditures 1,368.28 55.73 2355.14%Mainly due to the impact

22、 of donation expenses Income tax expenses 11,392.67 17,146.18 33.56%Mainly due to the recognition of deferred tax expenses Items of the Cash Flow Statement From the beginning of the year to the end of the reporting period(RMB 0,000)Same period last year(RMB 0,000)Variations Reasons for changes 2025

23、First Quarterly Report 4 Net cash flows from operating activities 830,733.63 412,927.10 101.18%Mainly due to the timely recovery of loans of the Company II.Shareholders Information (I)Total number of shareholders of ordinary shares and shareholders of preferred shares with restored voting rights,and

24、 shareholdings of the top ten shareholders Unit:share Total number of common shareholders at the end of the reporting period 87,976 Total number of preferred shareholders with voting rights restored at the end of the reporting period(if any)0 Shareholding of the Top 10 Shareholders(excluding shares

25、lent out through refinancing)Name of shareholders Nature of shareholders Shareholding ratio(%)Number of shares held Number of shares held with limited sales conditions Pledge,marking or freezing Share status Number Zhejiang Rongsheng Holding Group Co.,Ltd.Domestic non-state-owned legal person 53.16%

26、5,382,659,734 0 Not applicable 0 Aramco Overseas Company B.V.Overseas legal person 10.00%1,012,552,501 0 Not applicable 0 Li Shuirong Domestic natural person 6.35%643,275,000 482,456,250 Not applicable 0 Hong Kong Securities Clearing Company Limited Overseas legal person 1.82%184,363,768 0 Not appli

27、cable 0 Li Guoqing Domestic natural person 0.95%96,525,000 72,393,750 Not applicable 0 Xu Yuejuan Domestic natural person 0.95%96,525,000 0 Not applicable 0 Li Yongqing Domestic natural person 0.95%96,525,000 72,393,750 Not applicable 0 Horizon Asset-Huaneng Trust Jiayue No.7 Single Fund Trust-Horiz

28、on Asset Huixin No.43 Single Asset Management Plan Other 0.54%55,148,287 0 Not applicable 0 Huaneng Guicheng Trust Co.,Ltd.-Huaneng Trust Rongyue Weicheng collective funds trust plan Other 0.49%50,078,500 0 Not applicable 0 Industrial and Commercial Bank of China Limited Huatai-PineBridge CSI 300 Ex

29、change Traded Open-End Index Securities Investment Fund Other 0.49%49,789,651 0 Not applicable 0 Shareholding of top 10 shareholders not subject to sales restrictions(excluding shares lent through refinancing and executive lock-in shares)Name of shareholders Number of shares held with unlimited sale

30、s conditions Class of shares Class of shares Number 2025 First Quarterly Report 5 Zhejiang Rongsheng Holding Group Co.,Ltd.5,382,659,734 RMB ordinary shares 5,382,659,734 Aramco Overseas Company B.V.1,012,552,501 RMB ordinary shares 1,012,552,501 Hong Kong Securities Clearing Company Limited 184,363

31、,768 RMB ordinary shares 184,363,768 Li Shuirong 160,818,750 RMB ordinary shares 160,818,750 Xu Yuejuan 96,525,000 RMB ordinary shares 96,525,000 Horizon Asset-Huaneng Trust Jiayue No.7 Single Fund Trust-Horizon Asset Huixin No.43 Single Asset Management Plan 55,148,287 RMB ordinary shares 55,148,28

32、7 Huaneng Guicheng Trust Co.,Ltd.-Huaneng Trust Rongyue Weicheng collective funds trust plan 50,078,500 RMB ordinary shares 50,078,500 Industrial and Commercial Bank of China Limited Huatai-PineBridge CSI 300 Exchange Traded Open-End Index Securities Investment Fund 49,789,651 RMB ordinary shares 49

33、,789,651 Dai Deming 48,000,000 RMB ordinary shares 48,000,000 Ni Xincai 47,925,000 RMB ordinary shares 47,925,000 Explanation of the relationship or concerted action among the above shareholders Among the top 10 shareholders,Zhejiang Rongsheng Holding Group Co.,Ltd.is the controlling shareholder of

34、the Company,Li Yongqing and Li Guoqing are nephews of Li Shuirong,Chairman of the Board of Directors of Zhejiang Rongsheng Holding Group Co.,Ltd.,Xu Yuejuan is sister-in-law of Li Shuirong,forming associated relationships.In addition to the above associated relationships,the Company has no knowledge

35、 of whether other shareholders are related to each other or act in concert.Securities margin trading business attended by top 10 shareholders(if any)Zhejiang Rongsheng Holding Group Co.,Ltd.holds 5,342,659,734 shares through an ordinary account and 40,000,000 shares through a credit account.Note:Amo

36、ng the top 10 shareholders,Rongsheng Petrochemical Co.,Ltd.held 553,232,858 shares in its special securities account for repurchase,accounting for 5.46%of the Companys total share capital.The lending of shares by the shareholders holding more than 5%of shares,top ten shareholders and top ten shareho

37、lders of circulating shares not subject to selling restrictions in the refinancing business Applicable Not applicable Change from the previous period due to lending/returning of shares from/to the top ten shareholders and top ten shareholders of circulating shares not subject to selling restrictions

38、 in the refinancing business Applicable Not applicable(II)The total number of shareholders of preferred shares of the Company and the shareholdings of the top 10 shareholders of preferred shares Applicable Not applicable III.Other Important Matters Applicable Not applicable 2025 First Quarterly Repo

39、rt 6 IV.Quarterly Financial Statements(I)Financial statements 1.Consolidated balance sheet Prepared by:Rongsheng Petrochemical Co.,Ltd.March 31,2025 Unit:RMB Items Ending balance Beginning balance Current assets:Cash and bank balances 28,305,280,394.53 14,833,384,920.45 Settlement funds Loans to oth

40、er banks Held-for-trading financial assets Derivative financial assets 493,109,694.34 475,766,685.17 Notes receivable Accounts receivable 3,951,835,325.48 6,821,971,706.36 Receivables financing 357,629,583.87 103,225,654.46 Advances paid 3,412,326,688.21 1,354,519,708.48 Premium receivables Reinsura

41、nce accounts receivables Reinsurance reserves receivable Other receivables 5,205,412,517.03 4,345,964,007.66 Including:Interest receivables Dividends receivable Financial assets under reverse repo Inventories 42,035,267,231.34 44,566,934,616.59 including:data resources Contract assets Assets held fo

42、r sale Non-current assets due within one year Other current assets 4,916,061,348.10 5,801,152,355.65 Total current assets 88,676,922,782.90 78,302,919,654.82 Non-current assets:Loans and advances 2025 First Quarterly Report 7 Debt investments Other debt investments Long-term receivables Long-term eq

43、uity investments 9,528,105,961.15 9,516,636,321.17 Other equity instrument investments Other non-current financial assets Investment property 10,056,267.10 10,124,128.60 Fixed assets 228,629,134,995.99 232,497,113,015.70 Construction in progress 50,193,461,245.86 44,036,132,096.28 Productive biologi

44、cal assets Oil&gas assets Right-of-use assets 172,929,022.03 176,237,821.55 Intangible assets 8,104,368,649.11 8,142,781,094.80 including:data resources Development expenditures including:data resources Goodwill Long-term prepayments Deferred tax assets 1,270,818,260.88 1,237,176,277.28 Other non-cu

45、rrent assets 4,419,295,305.94 3,926,823,773.78 Total non-current assets 302,328,169,708.06 299,543,024,529.16 Total assets 391,005,092,490.96 377,845,944,183.98 Current liabilities:Short-term borrowings 48,319,214,551.65 44,090,969,803.23 Central bank loans Loans from other banks Held-for-trading fi

46、nancial liabilities 1,443,458,239.45 1,269,256,561.53 Derivative financial liabilities 8,644,380.00 34,655,378.23 Notes payable 2,862,324,348.76 3,204,293,497.95 Accounts payable 64,731,634,776.69 59,032,829,819.11 Advances received Contract liabilities 3,721,490,598.55 5,995,580,462.05 Financial li

47、abilities under repo 2025 First Quarterly Report 8 Absorbing deposit and interbank deposit Deposits for agency security transaction Deposits for agency security underwriting Employee benefits payable 439,095,133.00 996,809,278.49 Taxes and rates payable 2,161,857,162.59 1,277,862,468.64 Other payabl

48、es 8,945,736,243.78 6,588,756,879.48 Including:Interests payable Dividends payable Handling fees and commissions payable Reinsurance accounts payable Liabilities held for sale Non-current liabilities due within one year 44,690,175,516.74 38,322,495,216.94 Other current liabilities 466,484,395.42 742

49、,351,889.84 Total current liabilities 177,790,115,346.63 161,555,861,255.49 Non-current liabilities:Insurance policy reserves Long-term borrowings 115,246,951,636.60 119,518,340,862.41 Bonds payable Including:Preferred shares Perpetual bonds Lease liabilities 166,117,902.85 171,624,458.34 Long-term

50、payables Long-term employee benefits payable Provisions Deferred income 192,792,497.90 198,629,966.29 Deferred tax liabilities 1,646,386,901.05 1,577,357,341.78 Other non-current liabilities Total non-current liabilities 117,252,248,938.40 121,465,952,628.82 Total liabilities 295,042,364,285.03 283,

51、021,813,884.31 Equity:Share capital 10,125,525,000.00 10,125,525,000.00 Other equity instruments Including:Preferred shares 2025 First Quarterly Report 9 Perpetual bonds Capital reserve 10,820,015,319.70 10,819,566,635.04 Less:treasury shares 6,987,008,823.24 6,987,008,823.24 Other comprehensive inc

52、ome 192,521,131.63 280,892,216.98 Special reserve 19,070,265.41 19,057,187.43 Surplus reserve 1,270,743,066.03 1,270,743,066.03 General risk reserve Undistributed profit 28,918,798,355.16 28,330,397,005.41 Total equity attributable to the parent company 44,359,664,314.69 43,859,172,287.65 Minority e

53、quity 51,603,063,891.24 50,964,958,012.02 Total equity 95,962,728,205.93 94,824,130,299.67 Total liabilities&equity 391,005,092,490.96 377,845,944,183.98 Legal representative:Li Shuirong Officer in charge of accounting:Wang Yafang Head of accounting firm:Zhang Shaoying 2.Consolidated income statemen

54、t Unit:RMB Items Amount for the current period Amount for the previous period I.Total operating revenue 74,975,429,161.64 81,088,312,171.89 Including:operating revenue 74,975,429,161.64 81,088,312,171.89 Interest income Premiums earned Revenue from handling fees and commissions II.Total operating co

55、st 74,402,019,860.72 80,129,366,950.93 Including:operating cost 64,519,073,624.35 69,689,532,945.07 Interest expenses Handling fees and commissions Surrender value Net payment of insurance claims Net provision of insurance policy reserve Premium bonus expenditures Reinsurance expenses Taxes and surc

56、harges 6,465,002,839.83 7,108,078,282.93 Selling expenses 37,784,384.91 37,189,397.04 2025 First Quarterly Report 10 Administrative expenses 199,661,800.06 206,168,697.22 R&D expenses 1,472,788,785.89 1,193,091,516.38 Financial expenses 1,707,708,425.68 1,895,306,112.29 Including:interest expenses 1

57、,697,126,918.88 1,813,336,399.31 Interest income 87,901,390.00 118,530,661.38 Add:Other income 822,689,910.27 352,421,758.54 Investment income(or less:losses)149,413,730.60-29,905,606.95 Including:Investment income from associates and joint ventures 98,408,198.41 68,496,162.46 Gains from derecogniti

58、on of financial assets at amortized cost Gains on foreign exchange(or less:losses)Gains on net exposure to hedging risk(or less:losses)Gains on changes in fair value(or less:losses)-109,916,661.41 25,258,522.19 Credit impairment loss 9,043,116.57-48,263,256.65 Assets impairment loss-86,497,294.03-98

59、1,692.18 Gains on asset disposal(or less:losses)0.00 5,704,105.35 III.Operating profit(or less:losses)1,358,142,102.92 1,263,179,051.26 Add:Non-operating revenue 759,220.16 7,569,246.13 Less:Non-operating expenditures 13,682,819.19 557,313.60 IV.Profit before tax(or less:total loss)1,345,218,503.89

60、1,270,190,983.79 Less:Income tax expenses 113,926,687.27 171,461,784.77 V.Net profit(or less:net loss)1,231,291,816.62 1,098,729,199.02(I)Categorized by the continuity of operations 1.Net profit from continuing operations(or less:net loss)1,231,291,816.62 1,098,729,199.02 2.Net profit from discontin

61、ued operations(or less:net loss)(II)Categorized by the portion of equity ownership 1.Net profit attributable to owners of parent company 588,401,349.75 552,356,783.62 2.Net profit attributable to non-controlling shareholders 642,890,466.87 546,372,415.40 VI.Other comprehensive income after tax-93,91

62、2,489.85 16,749,448.69 Items attributable to the owners of the parent company-88,371,085.35 19,630,356.85(I)Not to be reclassified subsequently to profit or loss -590,642.24 1.Remeasurements of the net defined benefit plan 2.Items under equity method that will not be reclassified to 2025 First Quart

63、erly Report 11 profit or loss 3.Changes in fair value of other equity instrument investments 4.Changes in fair value of own credit risk 5.Others -590,642.24(II)To be reclassified subsequently to profit or loss-88,371,085.35 20,220,999.09 1.Items under equity method that may be reclassified to profit

64、 or loss-85,835,764.45 12,582,979.88 2.Changes in fair value of other debt investments 3.Profit or loss from reclassification of financial assets into other comprehensive income 4.Provision for credit impairment of other debt investments 5.Cash flow hedging reserve 6.Translation reserve-2,535,320.90

65、 7,638,019.21 7.Others Items attributable to non-controlling shareholders-5,541,404.50-2,880,908.16 VII.Total comprehensive income 1,137,379,326.77 1,115,478,647.71 Items attributable to the owners of the parent company 500,030,264.40 571,987,140.47 Items attributable to non-controlling shareholders

66、 637,349,062.37 543,491,507.24 VIII.Earnings per share(EPS)(I)Basic EPS(yuan per share)0.06 0.06(II)Diluted EPS(yuan per share)0.06 0.06 Legal representative:Li Shuirong Officer in charge of accounting:Wang Yafang Head of accounting firm:Zhang Shaoying 3.Consolidated cash flow statement Unit:RMB Ite

67、ms Current period cumulative Preceding period comparative I.Cash flows from operating activities:Cash receipts from sale of goods or rendering of services 84,657,306,364.47 88,428,593,585.76 Net increase of client deposit and interbank deposit Net increase of central bank loans Net increase of loans

68、 from other financial institutions Cash receipts from original insurance contract premium Net cash receipts from reinsurance 2025 First Quarterly Report 12 Net increase of policy-holder deposit and investment Cash receipts from interest,handling fees and commissions Net increase of loans from others

69、 Net increase of repurchase Net cash receipts from agency security transaction Receipts of tax refund 1,279,835,331.52 1,958,361,629.02 Other cash receipts related to operating activities 1,456,252,289.27 1,795,724,448.59 Subtotal of cash inflows from operating activities 87,393,393,985.26 92,182,67

70、9,663.37 Cash payments for goods purchased and services received 69,267,409,395.37 79,836,272,551.22 Net increase of loans and advances to clients Net increase of central bank deposit and interbank deposit Cash payments for insurance indemnities of original insurance contracts Net increase of loans

71、to others Cash payments for interest,handling fees and commissions Cash payments for policy bonus Cash paid to and on behalf of employees 1,423,588,401.74 1,558,998,186.28 Cash payments for taxes and rates 7,403,670,111.50 5,112,583,789.96 Other cash payments related to operating activities 1,321,38

72、9,727.69 1,545,554,152.05 Subtotal of cash outflows from operating activities 79,416,057,636.30 88,053,408,679.51 Net cash flows from operating activities 7,977,336,348.96 4,129,270,983.86 II.Cash flows from investing activities:Cash receipts from withdrawal of investments 895,723,709.01 761,449,460

73、.70 Cash receipts from investment income 5,000,000.00 0.00 Net cash receipts from the disposal of fixed assets,intangible assets and other long-term assets 3,620,231.11 222,923,497.09 Net cash receipts from the disposal of subsidiaries&other business units Other cash receipts related to investing ac

74、tivities 32,258,640.12 26,899,512.55 Subtotal of cash inflows from investing activities 936,602,580.24 1,011,272,470.34 Cash payments for the acquisition of fixed assets,intangible assets and other long-term assets 8,674,201,384.78 9,942,349,586.69 Cash payments for investments 586,481,324.68 424,64

75、6,154.66 Net increase of pledged borrowings Net cash payments for the acquisition of subsidiaries&other 2025 First Quarterly Report 13 business units Other cash payments related to investing activities 35,191,149.01 99,992,166.91 Subtotal of cash outflows from investing activities 9,295,873,858.47 1

76、0,466,987,908.26 Net cash flows from investing activities-8,359,271,278.23-9,455,715,437.92 III.Cash flows from financing activities:Cash receipts from absorbing investments Including:Cash received by subsidiaries from non-controlling shareholders as investments Cash receipts from borrowings 33,368,

77、092,582.16 36,543,200,351.24 Other cash receipts related to financing activities 9,494,564,451.60 9,448,341,833.32 Subtotal of cash inflows from financing activities 42,862,657,033.76 45,991,542,184.56 Cash payments for the repayment of borrowings 27,067,552,657.74 26,952,016,657.62 Cash payments fo

78、r distribution of dividends or profits and for interest expenses 1,873,280,050.02 1,969,038,091.06 Including:Cash paid by subsidiaries to non-controlling shareholders as dividend or profit Other cash payments related to financing activities 169,977,244.70 2,717,787,689.43 Subtotal of cash outflows f

79、rom financing activities 29,110,809,952.46 31,638,842,438.11 Net cash flows from financing activities 13,751,847,081.30 14,352,699,746.45 IV.Effect of foreign exchange rate changes on cash and cash equivalents-9,486,969.00-95,200,192.77 V.Net increase in cash and cash equivalents 13,360,425,183.03 8

80、,931,055,099.62 Add:Opening balance of cash and cash equivalents 12,943,832,335.45 11,486,855,097.51 VI.Closing balance of cash and cash equivalents 26,304,257,518.48 20,417,910,197.13(II)Financial statements related to adjustments to items at the beginning of the year of first-time implementation of new accounting standards from 2024 onwards Applicable Not applicable(III)Audit report Whether the First Quarterly Report has been audited Yes No The First Quarterly Report of the Company has not been audited.Board of Directors of Rongsheng Petrochemical Co.,Ltd.April 29,2025