Hengli Petrochemical (600346) Q3 2025 earnings summary

Executive summary

• Net profit attributable to shareholders for Q3 rose 81.47% year-over-year, driven by stable crude prices and improved gross margins.

• Total revenue for Q3 was RMB 53.50 billion, with a year-to-date total of RMB 157.38 billion, down 11.46% year-over-year.

• Basic and diluted EPS for Q3 reached RMB 0.28, up 75% year-over-year; year-to-date EPS was RMB 0.71, down 2.74%.

Financial highlights

• Q3 total profit was RMB 2.65 billion, up 87.26% year-over-year; year-to-date profit was RMB 6.67 billion, up 0.59%.

• Net profit attributable to shareholders for Q3 was RMB 1.97 billion; year-to-date was RMB 5.02 billion.

• Non-recurring gains in Q3 included RMB 264 million in government subsidies and a loss of RMB 165 million from fair value changes in financial assets.

• Operating cash flow for the first nine months was RMB 20.13 billion, nearly flat year-over-year.

Key financial ratios and metrics

• Weighted average ROE for Q3 increased by 1.22 percentage points to 3.05%; year-to-date ROE was 7.79%, down 0.65 points.

• Gross margin improved year-over-year due to stable crude prices.

• Total assets at quarter-end were RMB 274.07 billion, up 0.36% from year-end; equity attributable to shareholders was RMB 64.63 billion, up 1.94%.