CNOOC Limited (HKEX:0883) Annual Report 2021



The latest annual report of CNOOC Limited (0883) was published on 31 Dec 2021. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - 0883 Annual Results

Amounts in CNY

Total Revenue
246.11B
Gross Profit
201.49B
EBIT
93.2B
Net Tangible Assets
466.05B
Net Income
70.32B
Capital Expenditures
-82.44B

0883 Income Statement 2021 Annual Report

As per the latest Income Statement of 0883, the Net revenue increased by ¥90.739B (58%) compared to the previous period. The operating income in 2021 increased by ¥59.571B (177%). The net income as per the annual report was 70.32B which increased by ¥45.364B (182%) compared to previous year.

Income Statement Report (2021/2020)

2021 2020
Total Revenue 246.11B 155.37B
Gross Profit 201.49B 119.46B
Operating Income 93.2B 33.63B
Income Before Tax 95.82B 34.91B
Net Income 70.32B 24.96B

Balance Sheet - 0883 2021 Annual Report

Read further: 0883 Balance Sheet Detailed Analysis

The latest balance sheet from annual result of CNOOC Limited showed the company increased the cash on balance sheet by ¥17.413B (72%). The Net tangible assets of 0883 on the balance sheet were at 466.05B which is ¥47.469B (11%) more than previous annual report. The total stockholder equity also increased by ¥47.204B (11%) compared to previous reporting period.

Balance Sheet Statement Report (2021/2020)

2021 2020
Cash 41.43B 24.02B
Total Assets 786.57B 721.27B
Long Term Debt 112.89B 125.01B
Total Liabilities 304.59B 287.35B
Total Shareholder Equity 480.91B 433.71B
Net Tangible Assets 466.05B 418.58B

Cash Flow Statement - 0883 2021 Annual Report

The 2021 annual cash flow statement of CNOOC Limited showed that the net income increased by ¥45.364B (182%) compared to previous reporting period. Also the capital expenditure of 0883 decreased by ¥-7.019B (-9%).

As of 2021, the total cash from investing activities was -96.23B and total cash from financing activities was -33.33B.

Cash Flow Statement Report (2021/2020)

2021 2020
Net Income 70.32B 24.96B
Capital Expenditures -82.44B -75.42B
Dividends Paid -20.47B -25.85B
Total Cash From From Investing Activities -96.23B -50.85B
Total Cash From From Financing Activities -33.33B -38.7B

CNOOC Limited Annual Report History

Income Statement

Income Statement history of CNOOC Limited (HKEX:0883)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Total Revenue 246.11B 155.37B 233.2B 227.71B
Cost Of Revenue 44.63B 35.91B 53.77B 57.95B
Gross Profit 201.49B 119.46B 179.42B 169.76B
Research Development - - - -
Selling General Administrative 8.96B 8.82B 8.06B 7.43B
Non Recurring - - - -
Other Operating Expenses 22.47B 13.78B 17.83B 20.09B
Total Operating Expenses 152.91B 121.74B 151.83B 149.44B
Operating Income 93.2B 33.63B 81.37B 78.27B
Total Other Income Expense Net 2.62B 1.28B 4.28B -3.12B
Ebit 93.2B 33.63B 81.37B 78.27B
Interest Expense -3.19B -3.55B -3.04B -2.58B
Income Before Tax 95.82B 34.91B 85.65B 75.16B
Income Tax Expense 25.51B 9.95B 24.6B 22.48B
Minority Interest 1.06B 222M 39M 10M
Net Income From Continuing Ops 70.31B 24.96B 61.05B 52.67B
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income 70.32B 24.96B 61.05B 52.67B
Net Income Applicable To Common Shares 70.32B 24.96B 61.05B 52.67B

Balance Sheet Statement

Balance Sheet Statement history of CNOOC Limited (HKEX:0883)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Cash 41.43B 24.02B 33.68B 14.99B
Short Term Investments 38.3B 41.81B 17.16B 13.76B
Net Receivables 28.29B 19.8B 25.38B 23.27B
Inventory 5.7B 5.64B 6.31B 5.85B
Other Current Assets 11.82B 10.45B 8.89B 7.99B
Total Current Assets 207.98B 163.39B 205.94B 191.15B
Long Term Investments 48.7B 47.81B 50.04B 28.77B
Property Plant Equipment 474.18B 455.83B 449.73B 413.38B
Good Will 13.56B 13.87B 14.83B 14.59B
Intangible Assets 1.31B 1.26B 1.48B 1.48B
Other Assets 40.84B 39.11B 35.71B 37.01B
Deferred Long Term Asset Charges 28.59B 27.75B 25.99B 27.46B
Total Assets 786.57B 721.27B 757.73B 686.38B
Accounts Payable 21.59B 18.11B 19.83B 13.68B
Short Long Term Debt 11.03B 11.22B 12B 4.03B
Other Current Liab 53.55B 41.88B 52.02B 48.05B
Long Term Debt 112.89B 125.01B 136.15B 133.48B
Other Liab 92.04B 81.46B 75.04B 58.84B
Minority Interest 1.06B 222M 39M 10M
Total Current Liabilities 93.95B 74.85B 91.25B 74.16B
Total Liab 304.59B 287.35B 309.5B 266.47B
Common Stock 43.08B 43.08B 43.08B 43.08B
Retained Earnings 454.36B 404.49B 405.73B 373.69B
Treasury Stock -16.53B -13.86B -627M 3.13B
Other Stockholder Equity -16.53B -13.86B -627M 3.13B
Total Stockholder Equity 480.91B 433.71B 448.19B 419.9B
Net Tangible Assets 466.05B 418.58B 431.88B 403.83B

Cash Flow Statement

Cash Flow Statement history of CNOOC Limited (HKEX:0883)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Net Income 70.32B 24.96B 61.05B 52.67B
Depreciation 64.68B 60.22B 58.43B 56.44B
Change To Netincome 15.03B -7.62B 6.9B 13.94B
Change To Account Receivables -9.8B 5.62B -3.21B -940M
Change To Liabilities 7.44B -3.33B 1.44B 301M
Change To Inventory -99M 2.25B -1.3B 1.72B
Total Cash From Operating Activities 147.89B 82.34B 123.52B 124.4B
Capital Expenditures -82.44B -75.42B -72.01B -51.27B
Investments -17.23B 19.1B -655M -48.66B
Other Cashflows From Investing Activities 3.4B 5.46B 5.15B 3.89B
Total Cashflows From Investing Activities -96.23B -50.85B -67.46B -95.45B
Dividends Paid -20.47B -25.85B -28.97B -23.59B
Net Borrowings -6.88B -7.03B 2.59B 1.72B
Other Cashflows From Financing Activities -5.98B -5.82B -11.3B -5.24B
Total Cash From Financing Activities -33.33B -38.7B -37.69B -27.11B
Effect Of Exchange Rate -912M -2.45B 311M 208M
Change In Cash 17.41B -9.66B 18.68B 2.05B