Report summary
CNPC Capital is a platform for financial business integration, financial equity investment, financial asset management and supervision, and financial risk management and control of China National Petroleum Corporation.
CNPC Capital mainly operates banking business, finance company business, financial leasing business, trust business, insurance business, insurance brokerage business, securities business, credit enhancement business, equity investment business, and digital intelligence business through its holdings, exclusive insurance, Sino-Italian financial insurance, Kunlun insurance brokerage, China Life Insurance, China Life Insurance, Bank of China Securities, China Credit Insurance, Kunlun Capital and Kunlun Digital Intelligence, respectively.
Industrial finance is a company's own position. Facing CNPC's complete oil and gas industry chain, a huge number of industrial chain customer groups, and rich service application scenarios, the company continues to promote strategic cooperation with various specialized companies of CNPC to help the development of the oil and gas industry chain in all aspects. It has launched a series of special products such as “gas storage loans,” “smart connections,” and “ticket financing” around the construction of CNPC's natural gas production, supply, storage and marketing systems. In addition to focusing on oil and gas industry chain finance, the company combines the energy transformation background with the group's implementation of a green and low-carbon development strategy to vigorously develop green finance, continue to promote financial product services and technological innovation, and form a financial product system with unique energy characteristics and a series of service solutions, including green credit, green leasing, green trust, and green insurance.
In addition to domestic business, the company is also actively participating in the construction of the Belt and Road. It has successively participated in 158 key projects for 51 enterprises in 15 countries and regions along the “Belt and Road”, including Central Asia, West Asia, and Southeast Asia, providing high-quality financial guarantees and financial service support for the implementation of projects such as oil and gas extraction, engineering construction, crude oil trade, overseas mergers and acquisitions, and equipment imports. In the process of helping the global layout of the country's energy industry, it has also opened up market space for the company's business development.
Judging from the cost of revenue, the company's current main source of revenue is interest income, and the main cost is interest expenses. In a context where finance continues to benefit the real economy and global economic development is facing uncertainty, etc., the entire industry is under great pressure. However, the country as a whole maintains a steady growth policy, financial institutions have reasonable and abundant liquidity, and at the same time, the overall energy industry that the company serves is relatively prosperous, so the company is still expected to maintain reasonable growth. The company's total revenue for 2023, 2024, and 2025 is predicted to be 33.913 billion yuan, 35.471 billion yuan, 37.111 billion yuan, and net profit of the mother's net profit of 6.145 billion yuan, 6.324 billion yuan, and 6.594 billion yuan respectively.
Risk warning
Business risk, market and business risk, stock market risk, financial risk, overseas business risk, management risk.