International oil prices continued to remain high. Geo-Jade Petroleum Corporation(600759) announced this afternoon that the operating revenue in the first quarter of 2022 was 680 million yuan, a year-on-year increase of 27.17%; The net profit attributable to the parent company was 776996 million yuan, a year-on-year increase of 9664% . As of Friday’s closing, the total market value of the company was 6.3 billion yuan.
However, the company disclosed the annual report of 2021 on the same day, and the annual operating revenue was 2.453 billion yuan, a year-on-year increase of 51.22% net profit: loss of 943 million yuan .
According to the announcement, Geo-Jade Petroleum Corporation(600759) deduction of non net profit is 704000 yuan, and the large loss mainly comes from non recurring profit and loss items, including changes in fair value caused by investment real estate, trading financial assets and other assets. At the same time, up to now, Geo-Jade Petroleum Corporation(600759) many matured debts cannot be repaid or cashed, the equity of many bank accounts and subsidiaries have been frozen by the judiciary, there are large amounts of overdue loans and estimated liabilities, and the liquidity is temporarily difficult.
Therefore, Geo-Jade Petroleum Corporation(600759) has touched the situation that “the deduction of non net profit in the last three consecutive fiscal years, whichever is lower, is negative, and the audit report of the financial accounting report of the latest fiscal year shows that there is uncertainty in the company’s ability to continue operating”. Stock trading will be subject to other risk warnings and changed to “St intercontinental” .
As soon as the announcement was made, it aroused heated discussion among investors. Someone said, “what the hell is this, St?”, Others said, “I can’t buy it tomorrow”.
In terms of share price, Geo-Jade Petroleum Corporation(600759) since the high point in September last year, has experienced the largest cumulative decline of 43% .
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Public information shows that Geo-Jade Petroleum Corporation(600759) based on the international oil and gas market, the revenue from oil and gas sales accounts for 98% of the total revenue. The current oilfield assets held by the company mainly include Keshan project and maten project in Kazakhstan Geo-Jade Petroleum Corporation(600759) once said that the crude oil sales price of company is determined by referring to the international crude oil price .
At present, with the continuation of the conflict between Russia and Ukraine and the possible EU sanctions on Russian crude oil, the market continues to worry about supply, the supply and demand pattern of international oil prices is still tight, and prices remain high . According to Everbright Securities Company Limited(601788) Research Report data, as of April 22, Brent and WTI crude oil futures prices closed at US $106.65/barrel and US $102.07/barrel respectively, and the US dollar index closed near 101.1.
Under the high crude oil price, not only Geo-Jade Petroleum Corporation(600759) , Guanghui Energy Co.Ltd(600256) , Shanxi Blue Flame Holding Company Limited(000968) and other related companies also benefited, and the year-on-year increase of net profit in the first quarter doubled.
Tianfeng Securities Co.Ltd(601162) Zhang Xixi pointed out in the Research Report on April 9 that according to the tracked calorific value price comparison data of energy products, the price increases of natural gas (Europe) and crude oil (Brent) were among the top. Based on the average cost of US $35 / barrel, the pre tax profit of a barrel of crude oil produced in China is about 2400 yuan / ton. Due to the large volume of upstream oil and gas exploration and development, currently ranks first in the profitability of oil and gas production in the energy industry chain .
For the trend of crude oil in the later stage, Cinda securities predicted in the research report that considering the lack of global capital expenditure on crude oil for a long time, the elasticity of crude oil supply will decline, while in the transformation of old and new energy sources, the demand for crude oil is still growing, and the world will face the problem of crude oil shortage for many years. In 2022, the international oil price ushered in an upward inflection point , in the medium and long term, the oil price will remain high , Energy resources are expected to be in a boom cycle in the next 3-5 years.
On the other hand, Geo-Jade Petroleum Corporation(600759) also suggests that the international crude oil price is affected by many factors, such as global and regional political and economic changes, crude oil supply and demand and geopolitical events with international influence. Therefore, the company faces the risk of price fluctuation of main products.
