On the 24th, Geo-Jade Petroleum Corporation(600759) disclosed the first quarter report of 2022 and the annual report of 2021. Data show that in the first quarter of 2022, Geo-Jade Petroleum Corporation(600759) net profit soared by more than 96 times.
According to the financial report, in the first quarter of 2022, Geo-Jade Petroleum Corporation(600759) achieved an operating revenue of 680 million yuan, an increase of 27.17% year-on-year; The net profit was 776996 million yuan, a year-on-year increase of 9664%.
For the change of performance in the first quarter of 2022, Geo-Jade Petroleum Corporation(600759) explained that the revenue increased by 27% compared with the same period of last year, mainly due to the increase of international oil price and revenue. The increase in net profit was mainly due to the increase in the international average oil price during the reporting period compared with the same period last year, and the performance of its subsidiary maten company increased significantly compared with last year.
The annual report shows that Geo-Jade Petroleum Corporation(600759) in 2021, when the income increases by more than half, it will turn from profit to loss.
Specifically, in 2021, the company’s operating revenue was 2.453 billion yuan, a year-on-year increase of 51.22; The loss was 943 million yuan, with a profit of 175 million yuan in the same period last year.
In addition, Geo-Jade Petroleum Corporation(600759) income statement and cash flow statement show that in 2021, the company’s income from changes in fair value was – 583 million yuan, compared with 1.351 billion yuan in the previous year.
For the loss from changes in fair value, Geo-Jade Petroleum Corporation(600759) can be attributed to two reasons: one is the decline in the fair value of investment real estate; Second, the fair value of other non current financial assets decreased.
On the same day, Geo-Jade Petroleum Corporation(600759) also issued a suggestive announcement on the implementation of other risk warnings and suspension of trading of the company’s shares. The trading of the company’s shares will be suspended for one day on April 25, resumed on April 26 and implemented other risk warnings. The stock abbreviation will be changed from ” Geo-Jade Petroleum Corporation(600759) ” to “St intercontinental”.
According to item (6) of article 9.8.1 of the stock listing rules, the company has reached the situation that “the lower of the net profit before and after deducting non recurring profits and losses in the last three consecutive fiscal years is negative, and the audit report of the financial accounting report of the last fiscal year shows that there is uncertainty in the company’s ability to continue operation”, and the company’s stock trading will be subject to other risk warnings.
As of the closing on April 22, Geo-Jade Petroleum Corporation(600759) reported 2.79 yuan / share, down 20.96% from the year’s high set in early March, with a market value of 6.3 billion yuan.
