Stock code: 002493 Stock abbreviation: Rongsheng Petrochemical Announcement No.: 2024-035
Rongsheng Petrochemical Co., Ltd.
The Company and all members of the Board of Directors warrant that the information
disclosed is true, accurate and complete, and has no false representations, misleading
statements or material omissions.
Important notice:
warrant that the quarterly report is true, accurate, and complete and has no false representations, misleading
statements or material omissions, and assume several and joint liabilities.
of the accounting firm (accounting officer), hereby make representations in respect of the truthfulness, accuracy
and completeness of the financial statements in this quarterly report.
□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
Increase/decrease in the current
Current reporting Same period last
reporting period over the same
period year
period last year (%)
Operating income (RMB) 81,088,312,171.89 69,720,518,872.77 16.30%
Net profit attributable to shareholders of
the listed company (RMB)
Net profit attributable to shareholders of
the listed company net of non-recurring 474,627,417.74 -1,572,912,484.98 130.18%
gain and loss (RMB)
Net cash flow from operating activities
(RMB)
Basic earnings per share (RMB per share) 0.06 -0.15 140.00%
Diluted earnings per share (RMB per
share)
Weighted average return on net assets 1.24% -3.15% 4.39%
Increase/decrease at the end of the
End of the
End of last year reporting period over the end of last
reporting period
year (%)
Total assets (RMB) 380,804,493,762.52 374,918,440,311.68 1.57%
Owner’s equity attributable to shareholders
of the listed company (RMB)
(II) Items and amounts of non-recurring gain and loss
?Applicable □Not applicable
Unit: RMB
Amount in the
Items current reporting Notes
period
Gains on disposal of non-current assets (including write-off of provision for impairment) 5,704,105.35
Government subsidies included in the current profits and losses (except those closely
related to the Company's normal business operations, which are in line with national
policies, enjoyed according to certain standards, and have a continuous impact on the
Company's profits and losses)
Gains on changes in fair value of financial assets and financial liabilities held by non-
financial enterprises, and gains from disposal of financial assets and financial liabilities, 82,723,020.70
excluding those arising from hedging business related to operating activities
Fund possession charge from non-financial entities and included in profit or loss 107,025.15
Other non-operating revenues and expenditures except for the aforementioned items 7,013,519.03
Other profit/loss items falling within the definition of non-recurring gain or loss 21,037,340.56
Less: Affected amount of income tax 15,142,407.78
Affected amount of minority shareholders’ equity (after tax) 26,685,589.21
Total 77,729,365.88 --
Other gain/loss items falling within the definition of non-recurring gain or loss
□Applicable ?Not applicable
The Company has no other gain/loss items falling within the definition of non-recurring gain or loss.
Explanation of the 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.
□Applicable ?Not applicable
The Company has no explanation of the 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.
(III) Changes in key accounting data and financial indicators and reasons thereof
?Applicable □Not applicable
Unit：RMB 10,000
Ending Ending
balance in balance of
Balance sheet items Variations Reasons for change
the reporting the previous
period year
Mainly due to the increase in bankers’ acceptance
Receivables financing 27,224.00 17,503.62 55.53%
bills for goods received by the Company
Mainly due to the increase in prepayment for raw
Prepayment 321,307.01 149,331.25 115.16%
materials
Mainly due to the decrease in the Company’s
Employee benefits payable 47,559.90 103,222.08 -53.92% outstanding employee remuneration payable at the
end of the period
Mainly due to the increase in consumption tax
Taxes and rates payable 168,142.66 47,678.12 252.66%
payable by the Company at the end of the period
Beginning of
year to end of Same period
Income statement items Variations Reasons for change
reporting last year
period
Mainly due to the decrease in the Company’s
Financial expenses 189,530.61 109,835.70 72.56%
foreign exchange gain in the current period
Mainly due to the decrease in the Company’s
Gain from change in fair value 2,525.85 13,898.88 -81.83% floating income from paper goods in the current
period
Mainly due to tax credits of the Company in
Other income 35,242.18 5,159.51 583.05%
accordance with policies in the current period
Mainly due to the decrease in the Company’s long-
Investment income -2,990.56 3,825.47 -178.17% term equity income accounted for under the equity
method in the current period
Mainly due to the increase in income tax expense
Income tax expenses 17,146.18 -63,207.60 -127.13% as a result of the increase in total profit compared
with the same period last year
Beginning of
year to end of Same period
Cash flow statement items Variations Reasons for change
reporting last year
period
Mainly due to the year-on-year increase in net cash
Net cash flow from operating
activities
in the current period
Mainly due to the increase in cash paid for long-
Net cash flow from
-945,571.54 -703,650.59 34.38% term assets acquired by the Company in the
investment activities
current period
Net cash flow from financing 1,435,269.97 1,945,595.07 26.23% Mainly due to the decrease in net increase in the
activities Company’s bank borrowings year-on-year
II. Shareholders’ Information
(I) Total number of shareholders of ordinary shares and shareholders of preferred shares with restored
voting rights, and shareholdings of the top ten shareholders
Unit: share
Total number of common Total number of shareholders of preferred shares
shareholders at the end of the 100,234 with restored voting rights 0
reporting period at the end of the reporting period (if any)
Top 10 shareholders (excluding shares lent through refinancing)
Sharehol Number of Pledge, marking or
shares held freezing
Nature of ding Number of
Name of shareholders ratio subject to
shareholder shares held
（%） sales Num
Status of shares
restrictions ber
Domestic
Zhejiang Rongsheng Holding Group non-state-
Co., Ltd. owned legal
person
Foreign legal
Aramco Overseas Company B.V. 10.00% 1,012,552,501 N/A
person
Domestic
Li Shuirong natural 6.35% 643,275,000 482456250 N/A
person
Hong Kong Securities Clearing Foreign legal
Company Limited person
Domestic
Li Guoqing natural 0.95% 96,525,000 72393750 N/A
person
Domestic
Xu Yuejuan natural 0.95% 96,525,000 N/A
person
Domestic
Li Yongqing natural 0.95% 96,525,000 72393750 N/A
person
Horizon Asset - Huaneng
Trust ·Jiayue No. 7 Single Fund
Others 0.54% 55,148,287 N/A
Trust - Horizon Asset Huixin No. 43
Single Asset Management Plan
Huaneng Guicheng Trust
Corporation Limited - Huaneng
Others 0.49% 50,078,500 N/A
Trust ·Rongyue Weicheng Pooled
Fund Trust Plan
Domestic
Ni Xincai natural 0.47% 47,925,000 N/A
person
Shareholdings of the top 10 shareholders not subject to sales restrictions
Class of shares
Number of shares held
Name of shareholders
without sales restrictions
Class of shares Number
RMB ordinary
Zhejiang Rongsheng Holding Group Co., Ltd. 5,246,113,794 5,246,113,794
shares
RMB ordinary
Aramco Overseas Company B.V. 1,012,552,501 1,012,552,501
shares
RMB ordinary
Li Shuirong 160,818,750 160,818,750
shares
RMB ordinary
Hong Kong Securities Clearing Company Limited 156,142,384 156,142,384
shares
RMB ordinary
Xu Yuejuan 96,525,000 96,525,000
shares
Horizon Asset - Huaneng Trust ·Jiayue No. 7 Single
RMB ordinary
Fund Trust - Horizon Asset Huixin No. 43 Single 55,148,287 55,148,287
shares
Asset Management Plan
Huaneng Guicheng Trust Corporation Limited -
RMB ordinary
Huaneng Trust ·Rongyue Weicheng Pooled Fund 50,078,500 50,078,500
shares
Trust Plan
RMB ordinary
Ni Xincai 47,925,000 47,925,000
shares
Hangzhou Mingzhu Enterprise Management RMB ordinary
Partnership (Limited Partnership) shares
Penghua Fund - China Life Insurance Co., Ltd. -
Participating Insurance - Penghua Fund State Life RMB ordinary
Stock Growth Equity Portfolio Single Asset shares
Management Plan (Available for Sale)
Among the top 10 shareholders, Zhejiang Rongsheng Holding Group
Co., Ltd. is the controlling shareholder of the Company, Li Yongqing and
Li Guoqing are nephews of Li Shuirong, Chairman of the Board of
Explanation of the relationship or concerted action Directors of Zhejiang Rongsheng Holding Group Co., Ltd., Xu Yuejuan
among the above shareholders is sister-in-law of Li Shuirong, and Ni Xincai is the brother-in-law of Li
Shuirong, forming associated relationships. In addition to the above
associated relationships, the Company has no knowledge of whether
other shareholders are related to each other or act in concert.
Zhejiang Rongsheng Holding Group Co., Ltd. holds 5,206,113,794
Explanation of the top 10 shareholders’ participation
shares through an ordinary account and 40,000,000 shares through a
in securities margin trading (if any)
credit account.
Note: Among the top 10 shareholders, Rongsheng Petrochemical Co., Ltd. held 552,380,458 shares in its special
securities account for repurchase, accounting for 5.46% of the Company’s total share capital.
The lending of shares by the shareholders holding more than 5% of shares, top ten shareholders and top ten
shareholders 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 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
IV. Quarterly Financial Statements
(I) Financial statements
Prepared by: Rongsheng Petrochemical Co., Ltd.
March 31, 2024
Unit: RMB
Items Closing balance Opening balance
Current assets:
Monetary fund 22,085,427,589.48 13,070,255,466.02
Settlement funds
Loans to other banks
Held-for-trading financial assets 278,313,692.91 310,087,429.45
Derivative financial assets
Notes receivable
Accounts receivable 4,527,525,896.22 4,737,733,703.66
Receivables financing 272,239,966.60 175,036,242.93
Advances paid 3,213,070,069.10 1,493,312,465.86
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve receivable
Other receivables 4,283,783,859.94 4,510,228,597.49
Including: Interest receivables
Dividends receivable
Redemptory monetary capital for sale
Inventories 55,237,461,019.28 61,733,657,342.07
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 4,635,885,805.30 5,297,128,974.31
Total current assets 94,533,707,898.83 91,327,440,221.79
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 9,262,885,084.00 9,183,711,444.96
Other equity instrument investments
Other non-current financial assets
Investment property 10,327,713.10 10,395,574.60
Fixed assets 215,959,642,059.52 219,699,679,397.52
Construction in progress 48,217,275,287.36 41,820,671,070.59
Productive biological assets
Oil & gas assets
Right-of-use assets 196,334,314.98 200,102,141.16
Intangible assets 8,047,209,820.83 7,128,930,412.44
Including: Data resources
Development expenditures
Including: Data resources
Goodwill
Long-term deferred expense 45,701.13
Deferred tax assets 721,038,004.97 690,808,878.08
Other non-current assets 3,856,073,578.93 4,856,655,469.41
Total non-current assets 286,270,785,863.69 283,591,000,089.89
Total assets 380,804,493,762.52 374,918,440,311.68
Current liabilities:
Short-term borrowings 49,478,542,204.66 44,810,936,767.94
Central bank loans
Loans from other banks
Held-for-trading financial liabilities 588,321,308.64 623,298,741.33
Derivative financial liabilities
Notes payable 4,029,642,868.75 4,195,471,402.63
Accounts payable 47,176,093,945.47 49,744,126,901.38
Advances received
Contract liabilities 3,263,730,848.76 4,421,732,432.83
Financial liabilities under repo
Absorbing deposit and interbank deposit
Deposits for agency security transaction
Deposits for agency security underwriting
Employee benefits payable 475,598,983.90 1,032,220,776.56
Taxes and rates payable 1,681,426,588.75 476,781,167.70
Other payables 15,425,993,518.14 16,919,133,504.47
Including: Interests payable
Dividends payable 228,000,000.00 228,000,000.00
Handling fees and commissions payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one year 30,509,962,010.15 30,286,684,174.81
Other current liabilities 406,698,171.24 551,990,844.96
Total current liabilities 153,036,010,448.46 153,062,376,714.61
Non-current liabilities:
Insurance policy reserve
Long-term borrowings 130,264,385,948.41 125,179,583,821.18
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 187,732,441.45 193,002,312.38
Long-term payables
Long-term employee benefits payable
Estimated liabilities
Deferred income 188,983,856.17 195,581,593.25
Deferred income liabilities 1,691,713,181.18 1,619,074,228.97
Other non-current liabilities
Total non-current liabilities 132,332,815,427.21 127,187,241,955.78
Total liabilities 285,368,825,875.67 280,249,618,670.39
Owner’s equity:
Share capital 10,125,525,000.00 10,125,525,000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 10,825,808,139.15 10,825,322,259.36
Less: Treasury shares 6,979,971,201.56 6,619,807,176.02
Other comprehensive income 129,834,223.20 110,203,866.35
Special reserve 65,923,726.85 60,677,296.91
Surplus reserve 974,151,644.68 974,151,644.68
General risk reserve
Undistributed profit 29,412,174,978.13 28,859,818,194.51
Total equity attributable to the parent company 44,553,446,510.45 44,335,891,085.79
Minority equity 50,882,221,376.40 50,332,930,555.50
Total equity 95,435,667,886.85 94,668,821,641.29
Total liabilities & equity 380,804,493,762.52 374,918,440,311.68
Legal representative: Li Shuirong Officer in charge of accounting: Wang Yafang Head of accounting firm: Zhang Shaoying
Unit: RMB
Current period Preceding period
Items
cumulative comparative
I. Total operating revenue 81,088,312,171.89 69,720,518,872.77
Including: operating revenue 81,088,312,171.89 69,720,518,872.77
Interest income
Premiums earned
Handling fees and commissions
II. Total operating cost 80,129,366,950.93 73,384,892,565.73
Including: Operating cost 69,689,532,945.07 66,685,174,009.31
Interest expenses
Handling fees and commissions
Surrender value
Net payment of insurance claims
Net appropriation of reserves for insurance liability
Premium bonus expenditures
Reinsurance expenses
Taxes and surcharges 7,108,078,282.93 4,110,642,568.99
Selling expenses 37,189,397.04 53,674,363.56
Administrative expenses 206,168,697.22 178,948,175.23
R&D expenses 1,193,091,516.38 1,258,096,443.54
Financial expenses 1,895,306,112.29 1,098,357,005.10
Including: Interest expenses 1,813,336,399.31 1,820,192,217.50
Interest income 118,530,661.38 159,489,774.49
Add: Other income 352,421,758.54 51,595,149.78
Investment income (losses expressed with “-”) -29,905,606.95 38,254,714.92
Including: Investment income from associates and
joint ventures
Gains from derecognition of financial assets at
amortized cost
Exchange gains (losses expressed with “-”)
Net exposure hedging gains (losses expressed with “-”)
Gains on changes in fair value (losses expressed with “-”) 25,258,522.19 138,988,806.17
Credit impairment loss (losses expressed with “-”) -48,263,256.65 -57,970,985.04
Loss on assets impairment (losses marked with “-”) -981,692.18
Gains on disposal of assets (losses expressed with “-”) 5,704,105.35
III. Operating profit (losses expressed with “-”) 1,263,179,051.26 -3,493,506,007.13
Add: non-operating income 7,569,246.13 153,882.31
Less: non-operating expenses 557,313.60 213,368.18
IV. Total profits (total losses expressed with “-”) 1,270,190,983.79 -3,493,565,493.00
Less: income tax expenses 171,461,784.77 -632,075,994.21
V. Net profit (net losses expressed with “-”) 1,098,729,199.02 -2,861,489,498.79
(I) By business continuity
”)
expressed with “-”)
(II) By ownership
VI. Other comprehensive income, net of tax 16,749,448.69 3,465,785.57
After-tax net of other comprehensive income attributable to the
owners of parent company
(I) Not to be reclassified subsequently to profit or loss -590,642.24
transferred to gain and loss under the equity method
instruments
(II) Other comprehensive income which may be reclassified to
gain and loss
to gain and loss under the equity method
comprehensive income
investments
statements
Other comprehensive income attributable to minority
-2,880,908.16 -12,362,773.89
shareholders, net of tax
VII. Total comprehensive income 1,115,478,647.71 -2,858,023,713.22
Total comprehensive income attributable to owners of the parent
company
Total comprehensive income attributable to minority
shareholders
VIII. Earnings per share:
(I) Basic earnings per share 0.06 -0.15
(II) Diluted earnings per share 0.06 -0.15
Legal representative: Li Shuirong Officer in charge of accounting: Wang Yafang Head of accounting firm: Zhang Shaoying
Unit: RMB
Current period Preceding period
Items
cumulative comparative
I. Cash flow from operating activities:
Cash received from sales of goods or rendering of services 88,428,593,585.76 82,509,656,914.92
Net increase in deposits from customers and other banks
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Cash received from receiving insurance premium of original
insurance contracts
Net cash received from reinsurance business
Net increase in deposits and investment of the insured
Cash received from interests, handling charges and commissions
Net increase in borrowing funds
Net increase in repurchase business capital
Net cash received from securities trading agency
Refunds of taxes and levies 1,958,361,629.02 658,735,846.53
Cash received relating to other operating activities 1,795,724,448.59 5,192,111,220.30
Subtotal of cash inflows for operating activities 92,182,679,663.37 88,360,503,981.75
Cash paid for goods purchased and services received 79,836,272,551.22 89,887,358,266.15
Net increase in loans and advances to customers
Net increase in deposits with the central bank and other banks
Cash paid for claims under original insurance contracts
Net increase in lending funds
Cash paid for interests, handling charges and commissions
Cash paid for policy dividends
Cash paid to and on behalf of employees 1,558,998,186.28 1,482,689,220.34
Payments of all types of taxes 5,112,583,789.96 3,970,279,709.58
Cash paid relating to other operating activities 1,545,554,152.05 4,080,895,592.39
Subtotal of cash outflows from operating activities 88,053,408,679.51 99,421,222,788.46
Net cash flow from operating activities 4,129,270,983.86 -11,060,718,806.71
II. Cash flows from investing activities:
Cash received from investment recovery 761,449,460.70 886,211,784.32
Cash received from the return on investment
Net cash received from the disposal of fixed assets, intangible
assets and other long-term assets
Net cash received from the disposal of subsidiaries and other
business units
Cash received relating to other investing activities 26,899,512.55 186,696,347.40
Subtotal of cash inflows from investing activities 1,011,272,470.34 1,072,908,131.72
Cash paid for purchase and construction of fixed assets,
intangible assets and other long-term assets
Cash paid for investments 424,646,154.66 915,284,882.03
Net increase in pledge loans
Net cash paid for acquisition of subsidiaries and other business
units
Cash paid relating to other investing activities 99,992,166.91 310,941,341.34
Subtotal of cash outflows from investing activities 10,466,987,908.26 8,109,414,072.93
Net cash flow from investment activities -9,455,715,437.92 -7,036,505,941.21
III. Cash flow from financing activities:
Cash received from absorption of investment
Including: cash received by subsidiaries from investments of
minority shareholders
Cash received from borrowings 36,543,200,351.24 44,117,219,620.50
Cash received relating to other financing activities 9,448,341,833.32 1,656,000,000.00
Subtotal of cash inflows from financing activities 45,991,542,184.56 45,773,219,620.50
Cash paid for repayment of debts 26,952,016,657.62 21,754,327,896.96
Cash paid for distribution of dividends and profits or payment of
interests
Including: dividends or profits paid by subsidiaries to minority
shareholders
Cash paid relating to other financing activities 2,717,787,689.43 2,574,304,070.24
Subtotal of cash outflows from financing activities 31,638,842,438.11 26,317,268,926.34
Net cash flow from financing activities 14,352,699,746.45 19,455,950,694.16
IV. Effect of change in exchange rate on cash and cash equivalents -95,200,192.77 632,793,172.41
V. Net increase in cash and cash equivalents 8,931,055,099.62 1,991,519,118.65
Add: opening balance of cash and cash equivalents 11,486,855,097.51 15,459,279,803.77
VI. Ending balance of cash and cash equivalents 20,417,910,197.13 17,450,798,922.42
(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, 2024
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