2019 third quarter results presentation · 3 q3 2019 q3 2018 y -o y change turnover 618,143 607,080...

2019 Third Quarter Results Presentation

October 2019

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Disclaimer

This presentation contains forward-looking statements that involve

risks and uncertainties. These statements are generally indicated by the

use of forward-looking terminology such as believe, expect, anticipate,

estimate, plan, project, target, may, will or other similar words that

express an indication of actions or results of actions that may or are

expected to occur in the future. You should not place undue reliance on

these forward-looking statements, which apply only as of the date of this

presentation. These forward-looking statements are based on our own

information and on information from other sources we believe to be

reliable. Our actual results may be materially less favorable than those

expressed or implied by these forward-looking statements which could

affect the market price of our shares.

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Q3 2019 Q3 2018 Y-o-Y Change

Turnover 618,143 607,080 +1.8%

Profit from Operations 24,720 44,779 -44.8%

Net Profit Attributable to

Shareholders of the Company8,830 21,220 -58.4%

Basic EPS (RMB) 0.048 0.116 -0.068

Financial highlights for the three months ended September 30 RMB Million

Financial Highlights for the Third Quarter

On 31st May 2019, the Company has completed the acquisition of the shares of WEPEC. According to the requirements

of business combination involving entities under common control, the company processed the accounting and audited

the consolidated financial statements, and made changes to the data in the beginning of the year and the comparative

statement. Operational data has also been adjusted accordingly.

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2019 2018 Y-o-Y Change

Turnover 1,814,402 1,726,717 +5.1%

Profit from Operations 95,383 112,153 -15.0%

Net Profit Attributable to

Shareholders of the Company37,253 48,661 -23.4%

Basic EPS (RMB) 0.204 0.266 -0.062

Financial highlights for the nine months ended September 30 RMB Million

Financial Highlights for the First Three Quarters

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Exploration & Production

2,449.5 2,688.0

212.1204.8

Jan-Sep 2018 Jan-Sep 2019

Domestic Overseas

549.2 556.9

114.1 125.8


Domestic Overseas

663.3

185.3 187.1

40.3 43.7

Q3 2018 Q3 2019

Domestic Overseas

Crude Output

Marketable Natural Gas Output

MM bbl

Bln cf

800.1 862.9

70.4 65.6

Q3 2018 Q3 2019

Domestic Overseas

225.6

2,661.6870.5

2,892.8

230.8

928.5

682.7

MM bbl

Bln cf

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57,884 76,935



318.6 330.9

52.1 54.7

Q3 2018 Q3 2019

Domestic Overseas

957.5 1,005.0

149.5 160.0


Domestic Overseas

27,99523,307

Oil & Gas Equivalent Output

Operating ProfitRMB Million

Q3 2018 Q3 2019

MM boe

370.7 1,107.0385.6 1,165.0

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67.93 61.49


5.72 5.49


Average Realized Price of Crude Oil

USD/ ‘000 cfUSD/bbl

Average Realized Price of Natural Gas

Oil and Gas Lifting Cost

11.47 11.28


USD/bbl

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Refining & Chemicals

30,051

3,410

8,855

3,723


Refining Chemicals

11,658

2,033

2,557

133

Q3 2018 Q3 2019

Refining Chemicals

289.3 308.5

Q3 2018 Q3 2019

Crude Processing Volume

Operating Profit

868.9 905.9


MM bbl

RMB Million

38,90614,215

2,166 7,133

RMB Million

MM bbl

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Refining & Chemicals

Production of Major Oil Products

Production of Major Chemical Products

‘000 tons Q3 2019 Q3 2018 Y-o-Y Change Jan-Sep 2019 Jan-Sep 2018 Y-o-Y Change

Refined Oil

Products 29,867 27,132 +10.1% 86,583 81,516 +6.2%

Gasoline 12,496 11,153 +12.0% 37,084 33,260 +11.5%

Kerosene 3,340 2,937 +13.7% 9,378 8,300 +13.0%

Diesel 14,031 13,042 +7.6% 40,121 39,956 +0.4%


Ethylene 1,307 1,339 -2.4% 4,290 4,008 +7.0%

Synthetic

Resin2,173 2,196 -1.0% 7,018 6,650 +5.5%

Synthetic Fiber

Raw Materials309 360 -14.2% 983 1,032 -4.7%

Synthetic

Rubber202 207 -2.4% 669 630 +6.2%

Urea 460 293 +57.0% 919 802 +14.6%

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6,424

422


Marketing

Sales Volume of Major Oil Products

Operating ProfitRMB Million


Sales of

Refined Oil

Products

48,768 46,701 +4.4% 138,680 137,575 +0.8%

Gasoline 20,354 18,000 +13.1% 56,850 55,489 +2.5%

Kerosene 4,889 5,761 -15.1% 15,020 15,184 -1.1%

Diesel 23,525 22,940 +2.6% 66,810 66,902 -0.1%

1,939

-1,475Q3 2018 Q3 2019

RMB Million

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Natural Gas and Pipeline

19,71921,950


Operating Profit

RMB Million

3,614 3,648

Q3 2018 Q3 2019

RMB Million

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Key Tasks and Plans for the Fourth Quarter of 2019

Strive to Increase domestic

oil and gas reserves,

production and efficiencyStrengthen development

and operation of new

overseas projects

Promote structural

adjustment of refining and

chemical business and

reduce costs and increase

efficiencyStrongly promote volume

and profitability in sales

of refined oil

Promote the efficiency of

natural gas salesStrengthen reform and

innovation

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2019

Target

Jan-Sep 2019

ActualAchieved

Crude Oil Output905.9 682.7 75.4%

(MM bbl)

Marketable Natural Gas Output3,811.0 2,892.8 75.9%

(Bcf)

Oil & Gas Equivalent Output1,541.2 1,165.0 75.6%

(MM boe)

Crude Processing volume

1,170.4 905.9 77.4%(MM bbl)

Key Operating Targets in 2019

Media Relations

Tel: (852)2894-6231

Fax: (852)2576-1990

Email: [email protected]

Investor Relations

Tel: (852)2899-2010

Fax: (852)2899-2390

Email: [email protected]

2019 third quarter results presentation · 3 q3 2019 q3 2018 y -o y change turnover 618,143 607,080...

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