荣盛石化举办业绩说明会

Core Viewpoint - The company is focusing on enhancing its profitability and stock price amidst a declining stock performance, leveraging its integrated industrial chain and strategic initiatives in high-value new materials [1] Group 1: Company Performance and Strategy - The chairman of the company highlighted its significant cost advantages and competitive position in the market due to a well-established industrial chain [1] - The completion of the 40 million tons per year integrated refining and chemical project by its subsidiary, Zhejiang Petrochemical, marks a critical milestone, contributing to substantial revenue growth [1] - The company reported a net profit of 13.236 billion yuan in 2021, with its market value exceeding 300 billion yuan at one point, but has since seen a decline to below 90 billion yuan [1] Group 2: Stock Buyback and Shareholder Actions - In response to the continuous decline in stock price, the company and its major shareholder have initiated actions, including three phases of stock buyback totaling 555 million shares, representing 5.46% of the total share capital, with a total expenditure of 6.988 billion yuan [2] - Since 2022, the controlling shareholder has completed two phases of share purchases, amounting to 1.693 billion yuan, bringing the total buyback and purchase funds to 8.681 billion yuan [2]