Zhongman Petroleum Releases 2021 Annual Report: Turn Losses into Profits and the Business Structure Optimization


On April 22nd, 2022, ZPEC disclosed its 2021 annual report, achieving operating income of 1.754 billion Yuan for the whole year, an increase of 10.67% over the same period last year, and achieving a net profit attributable to shareholders of the listed company of 66.1415 million Yuan. The turnaround from a loss to a profit compared with the same period last year was achieved.


As the first private enterprise to obtain a domestic conventional oil and gas mining license, the company maintained its strategic determination and strategic self-confidence. Its unswervingly attention to the upstream exploration and development sector, continuously optimizing the company's business structure, continuously improving the industrial chain ecology, and gradually reversing the passive situation in previous years under the epidemic situation, a new period of strategic opportunities were ushered in.


In 2021, the company integrated the superior resources of its three major business sectors, strengthened the integrated operational modes, ensured the acceleration of production and development of the Wensu Project, completed the crude oil production of 170,000 tons throughout the year, and the company's exploration and development business showed a situation of rising volume and price, thus bringing new growth points to the company's overall revenue and performance. At the same time, the company seized the favorable opportunity and market opportunities to quickly resume the production of projects that were suspended due to the epidemic in 2020, and successively launched several newly signed projects. In the process of project implementation, the construction team strengthened the management of the whole process, strictly controlled the progress, quality and cost, and achieved good results. The company's various business sectors showed a good development trend.


In 2022, the company's resource advantages and technology accumulation will strengthen strategic implementation, seize key projects, optimize market layout, comprehensively enhance management capabilities, enhance core competitiveness, enhance performance and sustained profitability, create better economic benefits, and repay the society and shareholders with comprehensive and excellent performance.

(By Ms. Qiu Menqi, Group Headquarters)

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