Net losses attributable to shareholders reached 16.23 billion yuan, compared with a profit of 10.25 billion yuan in the same period of last year, according to a quarterly report of the company filed to the Shanghai and Hong Kong stock exchanges.
Aside from the epidemic impacts, the global oil rout was another major cause for the profit contraction of the company, with the Brent and West Texas Intermediate crude oil prices nosediving by 73.25% and 66.53% by the end of the Q1, respectively.
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