Oil price decline dragging down, Sinopec's Q3 net profit plummeted by 52.1% year-on-year, CNOOC's revenue declined. | Financial Report Insights
Sinopec's net income in the third quarter dropped significantly, greatly reducing inventory income year-on-year due to the rapid decline in oil prices, as well as a slight narrowing of refining product gross profit; CNOOC's revenue declined year-on-year, but net production and net income increased significantly year-on-year, with significant cost advantages.
Share buyback shareholding loans quickly landed! ICBC, BOC, ABC, CMB, CITIC and other first batch of multiple banks announced progress. Some banks have already shown cooperation intentions with nearly a hundred listed companies.
1. As of now, Bank of China has reached cooperation intentions with nearly a hundred listed companies, with 32 listed companies explicitly promised loans, covering multiple industries such as integrated circuits, transportation, high-end manufacturing, and business services; 2. The banks stated that they will strictly adhere to the risk compliance bottom line, rigorously prevent crediting funds that do not meet the conditions of stock increase stake & buyback and refinancing policies from illegally flowing into the stock market.
It is expected that relevant national authorities will establish a low-altitude economic regulatory bureau.
①The establishment decision has been approved, and the new bureau is currently in preparation; ② The low-altitude economy set up a dedicated bureau, which can better coordinate resources at all levels to promote industrial development.
PetroChina Reports FY Results
PetroChina Reports Q3 Results
PetroChina Reports 1H Results