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Hengli Petrochemical (600346) Performance Review of the Third Quarter of 2024: Q3 performance under pressure, fiscal stimulus boosting the bottom of the industry.
Summary: The company's performance in the third quarter was lower than expected, with pressures on chemical prices and price differentials. Relying on the large refining and chemical platform to build new momentum, emphasizing shareholder returns with a high proportion of dividends, and anticipating a recovery in chemical demand. Investment highlights: Maintaining a buy rating, with a downward adjustment.
Hengli Petrochemical (600346): Fluctuations in crude oil and aromatics dragging down performance, bullish on company profit recovery.
Event: According to Wind data, in the third quarter of 2024, the company achieved revenue of 65.261 billion yuan, up by 2.44% year-on-year and by 20.44% quarter-on-quarter; net income attributable to the parent company was 1.087 billion yuan, down by 59.01% year-on-year.
Hengli Petrochemical Co.,Ltd. Just Missed EPS By 60%: Here's What Analysts Think Will Happen Next
Hengli Petrochemical (600346): Some raw material product prices fluctuate, and the performance in Q3 2024 decreased compared to the previous quarter.
Core viewpoint: hengli petrochemical achieved revenue of 177.76 billion yuan in the first three quarters of 2024, a year-on-year increase of 3%, and achieved a net income attributable to the parent of 5.11 billion yuan, a year-on-year decrease of 10%. In terms of products, refining products/pta/new materials production.
Hengli Petrochemical (600346) 2024 Third Quarter Report Review: Inventory losses and pta products may drag down Q3 performance. The new materials production capacity is about to be put into operation.
Item: The company released the third quarter report of 2024, achieving revenue of 65.261 billion yuan, with a year-on-year/quarter-on-quarter growth of +2.44%/+20.44%; achieving net income attributable to the parent company of 1.087 billion yuan, with year-on-year/quarter-on-quarter growth.
Hengli Petrochemical (600346): Demand still bottoming out, expected to recover in the future.
Hengli Petrochemical released the third quarter report for 2024 on October 24, 2024. The company achieved a total operating income of 177.857 billion yuan in the first three quarters of 2024, a year-on-year increase of 2.71%, achieving a net profit attributable to the parent.
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