据证券之星公开数据整理，近期上海石化(600688)发布2025年一季报。截至本报告期末，公司营业总收 入195.21亿元，同比下降8.28%，归母净利润-8983.9万元，同比下降206.87%。按单季度数据看，第一季 度营业总收入195.21亿元，同比下降8.28%，第一季度归母净利润-8983.9万元，同比下降206.87%。本报 告期上海石化公司应收账款体量较大，当期应收账款占最新年报归母净利润比达431.74%。 本次财报公布的各项数据指标表现一般。其中，毛利率16.96%，同比增1.91%，净利率-0.46%，同比减 215.04%，销售费用、管理费用、财务费用总计3.7亿元，三费占营收比1.89%，同比减14.25%，每股净 资产2.36元，同比增2.28%，每股经营性现金流0.17元，同比增354.4%，每股收益-0.01元，同比减 200.0% 证券之星价投圈财报分析工具显示：业务评价：公司去年的ROIC为0.46%，近年资本回报率不强。公司 业绩具有周期性。去年的净利率为0.37%，算上全部成本后，公司产品或服务的附加值不高。偿债能 力：公司现金资产非常健康。融资分红：公司上市32年以来， ...

Financial Performance - The company's operating revenue for Q1 2025 was RMB 19,520,645 thousand, representing a decrease of 8.28% compared to RMB 21,282,263 thousand in the same period last year[6]. - The net profit attributable to shareholders of the listed company was a loss of RMB 89,839 thousand, a decline of 206.87% from a profit of RMB 84,061 thousand in the previous year[6]. - Basic and diluted earnings per share both decreased to RMB -0.008, down 200.00% from RMB 0.008 in the previous year[6]. - Net profit for Q1 2025 was a loss of CNY 89,891, compared to a profit of CNY 85,195 in Q1 2024[19]. - Operating profit for Q1 2025 was a loss of CNY 92,326, contrasting with a profit of CNY 129,219 in Q1 2024[19]. - The company experienced a net loss of CNY -83,910 in comprehensive income for Q1 2025, compared to a profit of CNY 85,195 in Q1 2024[20]. - The total comprehensive income attributable to the parent company in Q1 2025 was CNY -83,858, down from CNY 84,061 in Q1 2024[20]. Cash Flow and Investments - The net cash flow from operating activities was RMB 1,789,914 thousand, a significant improvement from a negative cash flow of RMB 718,251 thousand in the same period last year[6]. - In Q1 2025, the company reported a net cash flow from operating activities of CNY 1,789,914, compared to a negative cash flow of CNY -718,251 in Q1 2024, indicating a significant improvement[23]. - Net cash flow from investing activities in Q1 2025 was CNY 3,479,928, compared to a negative cash flow of CNY -259,552 in Q1 2024[23]. - The company raised CNY 121,078 from investment activities in Q1 2025, a significant decrease from CNY 12,500,000 in Q1 2024[24]. - The company received CNY 3,890,463 related to investment activities in Q1 2025, a substantial increase from CNY 207,885 in Q1 2024[23]. - The company reported a cash outflow of CNY 1,558,277 from financing activities in Q1 2025, compared to CNY 11,083,809 in Q1 2024[24]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 41,244,067 thousand, a decrease of 1.26% from RMB 41,769,339 thousand at the end of the previous year[6]. - Current assets as of March 31, 2025, totaled CNY 20,471,537, slightly down from CNY 20,633,139 as of December 31, 2024[16]. - Total liabilities as of March 31, 2025, were CNY 16,214,905, a decrease from CNY 16,624,844 as of December 31, 2024[17]. - Total assets as of March 31, 2025, amounted to CNY 41,244,067, down from CNY 41,769,339 as of December 31, 2024[17]. - The equity attributable to shareholders of the listed company was RMB 24,924,973 thousand, down 0.46% from RMB 25,040,254 thousand at the end of the previous year[6]. Shareholder Information - The top shareholder, China Petroleum & Chemical Corporation, holds 51.63% of the shares, indicating strong state ownership[12]. Operational Metrics - The decrease in net profit was primarily due to a reduction in product sales volume during the reporting period[10]. - Total operating costs for Q1 2025 were CNY 19,612,971, down 7.3% from CNY 21,153,044 in Q1 2024[19]. - The company reported non-recurring losses totaling RMB -4,630 thousand, which included various one-time expenses and losses[8]. - The weighted average return on net assets was -0.359%, a decrease of 0.70 percentage points compared to 0.338% in the previous year[6]. - Research and development expenses for Q1 2025 were CNY 44,317, an increase from CNY 35,083 in Q1 2024[19]. - The company reported a significant increase in accounts receivable, which rose to CNY 1,366,465 from CNY 701,587 year-over-year[16]. - Cash and cash equivalents at the end of Q1 2025 increased to CNY 12,033,961, up from CNY 5,344,773 at the end of Q1 2024[24]. - The company had no short-term borrowings as of March 31, 2025, compared to CNY 1,500,940 as of December 31, 2024[17].

Revenue and Profit Performance - Revenue for Q1 2025 was CNY 19,520,645, a decrease of 8.28% compared to CNY 21,282,263 in the same period last year[5] - Net profit attributable to shareholders was CNY -89,839, representing a decline of 206.87% from CNY 84,061 in the previous year[5] - Basic and diluted earnings per share were both CNY -0.008, down 200.00% from CNY 0.008 in the previous year[5] - Operating profit for Q1 2025 was CNY -92,326, compared to CNY 129,219 in Q1 2024, indicating a significant decline[18] - Net profit for Q1 2025 was CNY -89,891, while in Q1 2024, it was CNY 85,195, reflecting a negative turnaround[18] Cash Flow and Operating Activities - The net cash flow from operating activities was CNY 1,789,914, a significant improvement from CNY -718,251 in the same period last year[5] - Cash flow from operating activities for Q1 2025 was CNY 1,789,914, compared to CNY -718,251 in Q1 2024, showing a recovery in cash generation[22] - The company experienced a cash inflow from investment activities of CNY 3,479,928 in Q1 2025, compared to CNY -259,552 in Q1 2024, indicating improved investment performance[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 41,244,067, a decrease of 1.26% from CNY 41,769,339 at the end of the previous year[5] - Total assets as of March 31, 2025, were CNY 41,244,067, a slight decrease from CNY 41,769,339 as of December 31, 2024[16] - Total liabilities as of March 31, 2025, were CNY 16,214,905, down from CNY 16,624,844 at the end of 2024[16] - The company reported a cash and cash equivalents balance of CNY 12,042,850 as of March 31, 2025, compared to CNY 12,096,477 at the end of 2024[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 80,124[11] - The largest shareholder, Sinopec Limited, holds 51.63% of the shares, totaling 5,462,155,000 shares[11] Research and Development - Research and development expenses increased to CNY 44,317 in Q1 2025 from CNY 35,083 in Q1 2024, indicating a focus on innovation[18] Non-Recurring Losses - The company reported non-recurring losses totaling CNY -4,630, including various one-time expenses[7] Return on Equity - The weighted average return on equity decreased by 0.70 percentage points to -0.359%[5] Sales Performance - The company experienced a significant decline in product sales, which contributed to the decrease in operating performance[8]

前十大流通股东累计持有： 900812.84万股，累计占流通股比： 85.16%，较上期变化： -5561.06万股。 | 名称 | 持有数量(万股) | 占总股本比例 | 增减情况(万 | | --- | --- | --- | --- | | | | (%) | 股) | | 中国石油化工股份有限公司 | 546215.50 | 51.63 | 270.00 | | 香港中央结算(代理人)有限公司 | 320721.58 | 30.32 | -9611.70 | | 香港中央结算有限公司 | 9231.96 | 0.87 | 3437.60 | | 张沐城 | 4818.98 | 0.46 | 617.16 | | 银华基金-农业银行-银华中证金融资产管理计划 | 3674.13 | 0.35 | 不变 | | 南方基金-农业银行-南方中证金融资产管理计划 | 3640.25 | 0.34 | 不变 | | 广发基金-农业银行-广发中证金融资产管理计划 | 3482.71 | 0.33 | 不变 | | 大成基金-农业银行-大成中证金融资产管理计划 | 3383.73 | 0.32 | 不变 | | 中国 ...

Financial Performance - The net profit attributable to the shareholders of the parent company for 2024 is RMB 316,500 thousand, a significant recovery from a loss of RMB 1,405,876 thousand in 2023[7]. - Total revenue for 2024 is RMB 87,132,820 thousand, representing a decrease of 6.32% compared to RMB 93,013,595 thousand in 2023[20]. - The company reported a total profit of RMB 428,835 thousand for 2024, a significant turnaround from a loss of RMB 1,715,136 thousand in 2023[20]. - Basic earnings per share for 2024 is RMB 0.030, a significant improvement from a loss of RMB 0.130 in 2023[22]. - The weighted average return on equity increased to 1.270% in 2024 from a loss of 5.504% in 2023, representing an increase of 6.77 percentage points[22]. - The company recorded a net profit attributable to shareholders of RMB 310.98 million in 2024, compared to a loss of RMB 1,346.15 million in 2023[30]. - The company reported a net profit of RMB 317.00 million for 2024, recovering from a loss of RMB 1,349.31 million in 2023[30]. - The company's total revenue for the year ended December 31, 2024, was RMB 87.13 billion, a decrease of 6.32% compared to RMB 93.01 billion in 2023[111]. Cash Flow and Assets - The operating cash flow for 2024 shows a substantial increase to RMB 7,740,447 thousand, up 859.17% from RMB 806,996 thousand in 2023[20]. - The total assets at the end of 2024 amount to RMB 41,769,339 thousand, reflecting a growth of 5.32% from RMB 39,658,244 thousand at the end of 2023[20]. - The net assets attributable to the shareholders of the parent company increased by 0.87% to RMB 25,040,254 thousand at the end of 2024, compared to RMB 24,824,929 thousand at the end of 2023[20]. - The total cash inflow from operating activities for 2024 was RMB 76.24 billion, an increase of RMB 69.6 billion compared to RMB 6.64 billion in the previous year[92]. - The company's total assets as of December 31, 2024, amounted to RMB 41,800,000 thousand, with cash and cash equivalents at RMB 12,096,477 thousand, representing 28.96% of total assets[135]. - The company reported a 115.74% increase in cash and cash equivalents compared to the previous year[135]. Dividends and Profit Distribution - The company plans to distribute a final dividend of RMB 0.02 per share for the 2024 fiscal year, pending approval at the annual general meeting[7]. - The profit distribution plan for 2024 includes a cash dividend of RMB 0.02 per share, pending approval at the annual shareholders' meeting[172]. - The company has a cash dividend policy that mandates a minimum of 30% of the annual net profit to be distributed as cash dividends if certain conditions are met[170]. - The total cash dividends distributed over the last three accounting years amount to RMB 211.58 million, with an average net profit attributable to shareholders of RMB -1.32 billion during the same period[176]. Operational Efficiency and Cost Management - The total cost of sales and expenses for 2024 was RMB 74.23 billion, a decrease of 9.28% from RMB 81.83 billion in 2023[74]. - The company has implemented cost reduction strategies across various operations, including crude oil procurement and logistics management, to improve profitability[52]. - The company's total operating costs for 2024 were RMB 72.05 billion, down 8.99% from RMB 79.16 billion in 2023, primarily due to a decline in the sales volume of petrochemical products[119]. - The company achieved significant breakthroughs in safety production, turning losses into profits, and high-quality development[47]. Market and Product Development - The company emphasizes its commitment to enhancing product quality and variety while focusing on new product development and market expansion[18]. - The company plans to continue focusing on market expansion and new product development to drive future growth[22]. - The company is actively adjusting its product structure to meet the growing demand for petrochemical products in China[18]. - The company anticipates a decline in gasoline and diesel consumption in 2025 due to increased competition and market saturation[146]. Environmental and Safety Initiatives - The company achieved a 100% compliance rate for wastewater discharge and hazardous waste disposal in 2024[180]. - The company reported a total environmental tax payment of RMB 11.066 million to the Jinshan District Tax Bureau in 2024[181]. - The company successfully repaired 8,707 out of 8,971 detected leakage points, resulting in a cumulative repair rate of 97.06%[180]. - The company reduced carbon emissions by 89,053 tons through various measures in 2024[190]. - The company purchased 17.789 million kWh of green electricity, reducing carbon emissions by 74,714 tons[191]. - The company generated 1.333 million kWh of solar power, leading to a reduction of 5,599 tons of carbon emissions[191]. - The company maintained a 100% compliance rate for air pollutant emissions across all major pollution facilities in 2024[180]. - The company completed environmental impact assessments for seven new projects in 2024[186]. Research and Development - Research and development expenses for 2024 amounted to RMB 1.74 billion, compared to RMB 1.87 billion in 2023 and RMB 1.31 billion in 2022[96]. - The company has 153 R&D personnel, accounting for 2.17% of the total workforce[126]. - The company is involved in the development of high-strength carbon fiber technology, with a total funding requirement of RMB 114.75 million for various research projects[200]. Related Party Transactions - The company has engaged in related party transactions with its controlling shareholder, Sinopec Corp, which may impact its business and economic benefits[164]. - Sinopec Corp holds approximately 54.59 billion shares, representing 51.14% of the total shares, indicating a controlling interest that may affect the company's operations[165]. - The company confirmed that all related party transactions were conducted at market prices or according to national pricing policies, ensuring no significant impact on its independence[198]. - The company's financial services transactions with Sinopec Group's contacts amounted to RMB 4.86 million, representing only 1.57% of the maximum limit[196]. - The maximum limit for comprehensive service framework agreements was RMB 1,542 million, with actual transactions for construction and engineering design services amounting to RMB 116.928 million, or 16.93% of the limit[196]. Future Outlook - For 2025, the company plans to process a total of 13.1 million tons of crude oil, producing 8.39 million tons of refined oil, 622,200 tons of ethylene, and 688,000 tons of paraxylene[149]. - The company will invest approximately RMB 2.85 billion in capital expenditures for 2025, funded through financing activities and some self-owned funds[158]. - The company aims to become a "domestically leading, world-class" energy chemical and new materials company, focusing on low-cost upstream and high-value downstream operations[147]. - The company plans to focus on innovation by transitioning from refining to chemicals, then to materials, and finally to high-end products, while also promoting ecological development[152].

Financial Performance - The net profit attributable to shareholders for 2024 is RMB 316,500 thousand according to Chinese accounting standards, and RMB 310,980 thousand according to International Financial Reporting Standards[5]. - In 2024, the company's operating revenue was RMB 87,132,820 thousand, a decrease of 6.32% compared to RMB 93,013,595 thousand in 2023[25]. - The total profit for 2024 was RMB 428,835 thousand, a significant recovery from a loss of RMB 1,715,136 thousand in 2023[25]. - The net profit attributable to shareholders of the parent company was RMB 316,500 thousand, compared to a loss of RMB 1,405,876 thousand in the previous year[25]. - The company's basic earnings per share for 2024 was RMB 0.030, recovering from a loss of RMB 0.130 in 2023[25]. - The company's total sales revenue for 2024 was RMB 74.282 billion, a decrease of 7.24% compared to RMB 80.078 billion in 2023[59]. - The company's operating profit for 2024 was RMB 49.18 million, compared to an operating loss of RMB 1.753 billion in 2023[57]. - The net profit for the year was RMB 317 million, a significant recovery from a loss of RMB 1.349 billion in 2023[57]. - The company's total revenue for 2024 was RMB 87.13 billion, a decrease of 6.32% compared to RMB 93.01 billion in 2023[92]. Dividends and Shareholder Returns - The proposed final dividend for 2024 is RMB 0.02 per share (including tax), pending approval at the annual general meeting[5]. - The company will distribute the final dividend to H shareholders in Hong Kong dollars, calculated based on the average closing exchange rate prior to the dividend declaration date[6]. Audit and Compliance - The company has received standard unqualified audit reports from KPMG for financial statements prepared under both Chinese and International accounting standards[7]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[8]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors[8]. - The annual report is prepared in both Chinese and English, with the Chinese version prevailing in case of discrepancies[10]. Risk Management - The company has detailed potential risks in its report, which investors are advised to review[9]. - The company is subject to risks associated with currency fluctuations, particularly the depreciation of the RMB against foreign currencies, which could increase costs and impact profitability[137]. - The company faces risks related to environmental regulations that may lead to additional expenditures if stricter standards are implemented[136]. - The company's revenue is significantly affected by the cyclical nature of the oil and petrochemical markets, which are sensitive to macroeconomic conditions and consumer demand[133]. Operational Highlights - The company processed a total of 13.35 million tons of crude oil in 2024, a decrease of 5.48% year-on-year[42]. - The average processing cost of crude oil was RMB 4,282.18 per ton, a reduction of RMB 76.25 per ton, or 1.75% compared to the previous year[44]. - The company achieved a product sales rate of 99.89% and a cash collection rate of 100%[42]. - The company reported a total non-recurring loss of RMB 21.50 million in 2024, an improvement from a loss of RMB 40.36 million in 2023[37]. Cash Flow and Financial Position - The net cash flow from operating activities increased dramatically to RMB 7,740,447 thousand, up 859.17% from RMB 806,996 thousand in 2023[25]. - The total assets at the end of 2024 were RMB 41,769,339 thousand, reflecting a 5.32% increase from RMB 39,658,244 thousand in 2023[25]. - The company's total liabilities at the end of 2024 were RMB 16,554.84 million, an increase from RMB 14,635.34 million in 2023[29]. - The debt-to-asset ratio as of December 31, 2024, was 39.71%, up from 36.99% in 2023[80]. - The company's cash flow from operating activities showed a substantial increase, reaching RMB 7.74 billion, compared to RMB 806.996 million in the previous year, marking an increase of 859.17%[92]. Research and Development - The research and development expenses for 2024 were RMB 174 million, a decrease from RMB 187 million in 2023[81]. - The company employed 153 R&D personnel, representing 2.17% of the total workforce, with a significant portion holding advanced degrees[102]. - The company's research and development expenses totaled RMB 173,953, accounting for 0.20% of total revenue[102]. Environmental and Safety Initiatives - The company has implemented strict safety production measures, resulting in a 9.90% decrease in average VOCs concentration to 65.14 micrograms per cubic meter[45]. - The company is committed to energy-saving and carbon reduction initiatives, aligning with national policies aimed at improving energy efficiency and reducing emissions[143]. - The company emphasizes the importance of safety and environmental responsibility in its operations[128]. Future Outlook and Strategy - The company plans to process a total of 13.1 million tons of crude oil and produce 8.39 million tons of refined oil in 2025[128]. - The company aims to produce 622,200 tons of ethylene and 688,000 tons of paraxylene in 2025[128]. - The company is committed to transitioning from refining to chemicals, from chemicals to materials, and from materials to high-end products[130]. - The company aims to enhance its competitive capabilities by leveraging its diverse product chain and proximity to the market[127]. Related Party Transactions - The company confirmed that all related party transactions were conducted at market prices and did not significantly affect its independence[185]. - The independent non-executive directors reviewed the related party transactions and confirmed their compliance with the company's pricing policies[185]. - Related party transactions with Sinopec Group and its subsidiaries were disclosed in accordance with Hong Kong Listing Rules, with transaction percentages exceeding 0.1% but below 5%[189].

Financial Performance Expectations - The company expects a net profit attributable to shareholders of approximately RMB 253 million to RMB 379 million for the year ending December 31, 2024, indicating a turnaround from a loss in the previous year[4]. - The estimated net profit excluding non-recurring gains and losses is expected to be between RMB 270 million and RMB 405 million, also reflecting a turnaround from the previous year's loss[6]. - The previous year's net profit attributable to shareholders was a loss of RMB 1.41 billion[5]. Reasons for Turnaround - The main reasons for the expected turnaround include a decline in international oil prices, gradual recovery in market demand, and continuous optimization of production operations and product structure, leading to an increase in product gross margin[8]. Forecast Validity - The company emphasizes that the above forecasts are preliminary and subject to final confirmation in the 2024 annual report[10]. - There are no significant uncertainties affecting the accuracy of this earnings forecast[9].

Group 1 - The stock closed at HKD 1.180, down 1.67%, with a total trading volume of HKD 29.6477 million [1] - Shanghai Petrochemical Company announced a share buyback of 2.544 million shares at a price range of HKD 1.170 to HKD 1.200, totaling a buyback amount of HKD 3.0294 million [1]

Financial Performance - The company's operating revenue for Q3 2024 was CNY 22,462,479 thousand, a decrease of 9.87% compared to the same period last year[3]. - Net profit attributable to shareholders was CNY 6,627 thousand, down 97.53% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 13,632 thousand, a decrease of 95.22% compared to the previous year[3]. - The basic earnings per share for the reporting period was CNY 0.001, a decrease of 96.00% year-on-year[3]. - The diluted earnings per share for the reporting period was also CNY 0.001, reflecting the same percentage decrease[3]. - Total operating revenue for the first three quarters of 2024 was CNY 65,995,285, a decrease of 5.4% compared to CNY 69,859,201 in the same period of 2023[15]. - Net profit for the first three quarters of 2024 reached CNY 39,916, compared to a net loss of CNY 716,658 in the same period of 2023, marking a significant turnaround[15]. - Operating profit for the first three quarters of 2024 was CNY 93,067, compared to an operating loss of CNY 771,134 in the same period of 2023[15]. - The company reported a total comprehensive income of CNY 48,476 for the first three quarters of 2024, compared to a total comprehensive loss of CNY 674,048 in the same period of 2023[16]. - Earnings per share for the first three quarters of 2024 were CNY 0.003, compared to a loss per share of CNY -0.067 in the same period of 2023[16]. Cash Flow and Assets - The net cash flow from operating activities was CNY 10,083,631 thousand, with no applicable year-on-year comparison[3]. - Cash flow from operating activities generated a net amount of CNY 10,425,601 in the first three quarters of 2024, compared to a negative cash flow of CNY 888,316 in the same period of 2023[17]. - Cash and cash equivalents increased to RMB 15,375,779,000 from RMB 5,607,013,000, representing a growth of approximately 173.5%[13]. - Cash and cash equivalents at the end of the third quarter of 2024 totaled CNY 11,516,382, up from CNY 5,742,344 at the end of the same period in 2023[18]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 45,189,264 thousand, an increase of 13.95% from the end of the previous year[4]. - Current assets reached RMB 24,370,107,000, up from RMB 15,454,832,000, indicating a significant increase of about 57.5%[13]. - Total liabilities rose to RMB 20,353,797,000 from RMB 14,715,337,000, marking an increase of about 38.5%[14]. - The company's equity attributable to shareholders decreased slightly to RMB 24,731,866,000 from RMB 24,824,929,000, a decline of approximately 0.4%[14]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 89,489, with the largest shareholder being Sinopec Limited holding 5,459,455,000 shares, representing 51.14% of total shares[10]. - The second-largest shareholder, Hong Kong Central Clearing (Agent) Limited, held 3,346,317,000 shares, accounting for 31.35%[10]. - The company has no known related party relationships among the top shareholders, ensuring independent shareholder actions[10]. Non-Recurring Items and Expenses - Non-recurring gains and losses for the reporting period totaled CNY -7,005 thousand, with significant impacts from asset disposal losses and other operating income[5]. - Research and development expenses increased to CNY 193,894 in the first three quarters of 2024, up from CNY 112,338 in the same period of 2023, reflecting a focus on innovation[15]. Future Outlook - The company plans to implement new accounting standards starting in 2024, which may impact financial reporting[19].

Financial Performance - The company's operating revenue for Q3 2024 was CNY 22,462,479, a decrease of 9.87% compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2024 was CNY 6,627, reflecting a significant decline of 97.53% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 13,632, down 95.22% from the previous year[3]. - The basic earnings per share for Q3 2024 was CNY 0.001, a decrease of 96.00% compared to the same period last year[3]. - Total operating revenue for the first three quarters of 2024 was CNY 65,995,285, a decrease from CNY 69,859,201 in the same period of 2023, representing a decline of approximately 4.0%[14]. - Total operating costs for the first three quarters of 2024 were CNY 65,902,218, down from CNY 70,630,335 in the previous year, indicating a reduction of about 6.0%[14]. - In Q3 2024, the company reported a net profit of CNY 39,916 thousand, a significant recovery from a net loss of CNY 716,658 thousand in the same period last year[15]. - The company's operating profit reached CNY 93,067 thousand, compared to an operating loss of CNY 771,134 thousand in Q3 2023[15]. - The total comprehensive income for the period was CNY 48,476 thousand, recovering from a comprehensive loss of CNY 674,048 thousand in the previous year[15]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 45,189,264, representing an increase of 13.95% from the end of the previous year[4]. - Total assets reached CNY 45,189,264 as of September 30, 2024, compared to CNY 39,658,244 at the end of 2023, representing an increase of approximately 14.0%[13]. - Total liabilities were CNY 20,353,797 as of September 30, 2024, up from CNY 14,715,337 at the end of 2023, indicating an increase of about 38.5%[13]. - The company's total equity as of September 30, 2024, was CNY 24,835,467, slightly down from CNY 24,942,907 at the end of 2023, a decrease of about 0.4%[13]. Cash Flow - The net cash flow from operating activities for the reporting period was CNY 10,083,631, with a decrease in cash outflow compared to the previous year[7]. - Cash flow from operating activities generated a net inflow of CNY 10,425,601 thousand, a turnaround from a net outflow of CNY 888,316 thousand in the previous year[16]. - Cash and cash equivalents as of September 30, 2024, amounted to CNY 15,375,779, significantly higher than CNY 5,607,013 at the end of 2023, marking an increase of about 174.5%[12]. - Cash and cash equivalents at the end of the period totaled CNY 11,516,382 thousand, up from CNY 5,742,344 thousand at the end of Q3 2023[17]. - Investment activities resulted in a net cash outflow of CNY 1,404,314 thousand, contrasting with a net inflow of CNY 2,354,418 thousand in the same period last year[16]. Shareholder Information - The company reported a total of 89,489 common shareholders at the end of the reporting period[8]. - The largest shareholder, China Petroleum & Chemical Corporation, holds 51.14% of the shares[8]. Research and Development - Research and development expenses increased to CNY 193,894 in 2024 from CNY 112,338 in 2023, reflecting a growth of approximately 72.5%[14]. Sales Performance - The company experienced a decline in sales volume and average prices of petroleum products, impacting overall performance[6]. - Total revenue from sales of goods and services was CNY 71,493,690 thousand, down from CNY 77,343,192 thousand year-over-year[16]. Financial Expenses - The company incurred financial expenses of CNY 125,314 thousand, a decrease from CNY 178,659 thousand in the previous year[15]. Borrowings - The company raised CNY 17,500,000 thousand through borrowings, compared to CNY 24,045,000 thousand in Q3 2023[17].