Hengli Petrochemical (600346) Q3 2026 earnings summary

Executive summary

• Q3 revenue declined 1.20% YoY, while total profit and attributable net income rose 54.99% and 54.64%; YTD attributable net income more than doubled.

• Earnings recovery reflected better industry conditions, improved supply-demand balance and repaired refining and PTA processing spreads.

Financial highlights

• Q3 revenue was RMB 5,285,342.00 ten-thousand yuan (-1.20% YoY); attributable net income was RMB 305,015.11 ten-thousand yuan (+54.64%).

• Q3 adjusted attributable net income, excluding non-recurring items, was RMB 256,210.53 ten-thousand yuan (+35.64%); basic and diluted EPS were RMB 0.44, each up 57.14%.

• 9M revenue was RMB 15,107,490.61 ten-thousand yuan (-4.01% YoY); total profit was RMB 1,330,533.96 ten-thousand yuan (+99.56%).

• 9M attributable net income was RMB 1,025,590.42 ten-thousand yuan (+104.20%); adjusted attributable net income was RMB 789,778.08 ten-thousand yuan (+88.70%).

• 9M operating income was RMB 13,129,713,279.85 versus RMB 6,654,623,440.13 YoY; net income was RMB 10,253,562,118.02 versus RMB 5,023,137,506.51.

Segment performance

• Refining, aromatics, PTA and polyester chain conditions improved; core facilities maintained stable operations and sales, with refining and PTA processing spreads recovering.

• Flexible production planning adjusted raw materials, operating loads and product mix according to product profitability; coal chemicals helped offset crude-oil price volatility.