智通财经网·2025-10-31 08:39Core Viewpoint - Bank of America reports that China Petroleum & Chemical Corporation (00857) experienced a 5% year-on-year decline in net profit for the first three quarters, totaling 126 billion RMB, with a 4% decline in the third quarter to 42.3 billion RMB, although a 14% quarter-on-quarter increase exceeded expectations, driven by significant growth in natural gas sales profits [1] Financial Performance - The net profit for the first three quarters decreased by 5% to 126 billion RMB [1] - The third quarter net profit fell by 4% year-on-year to 42.3 billion RMB, but increased by 14% quarter-on-quarter [1] Capital Expenditure - Capital expenditure for the first three quarters declined by 5% to 177 billion RMB, representing 68% of the annual guidance [1] Future Outlook - Bank of America raised its forecast for the company's net profit for next year and the year after by 1% [1] - The target price for H-shares was increased from 8 HKD to 8.5 HKD, maintaining a "Buy" investment rating based on a projected dividend yield of 6% for this year [1]