Petrochemical state-owned enterprises performed well in the first half of the year

From July 16th to 17th, the State-owned Assets Supervision and Administration Commission of the State Council held a seminar for leaders of central enterprises in Beijing, summarizing the work in the first half of the year and deploying key tasks for the second half of the year
.
The operation of central enterprises in the first half of the year reported at the meeting showed that from January to June, central enterprises achieved operating income of 19.
2 trillion yuan, total profit of 1.
41 trillion yuan, and net profit of 1.
09 trillion yuan, a year-on-year increase of 12%, 7.
1%, and 6.
1% respectively.
%
.
The reporter noticed that the performance of these central enterprises in the first half of the year was also very bright
.

On July 15, PetroChina Co.
, Ltd.
issued an announcement on pre-increase in semi-annual results for 2022, stating that it is expected that the net profit attributable to shareholders of the company in the first half of 2022 will increase by RMB 26.
5 billion to RMB 320 million compared with the same period of the previous year.
100 million yuan, an increase of 50% to 60%
.
The main reasons for the pre-increase in performance this time are that the company has increased its efforts in oil and gas exploration and development, actively promoted the increase in reserves and production, insisted on improving quality and efficiency and low-cost development, as well as the rise in international oil prices, and the production and sales of crude oil and natural gas increased year-on-year
.

China National Offshore Oil Co.
, Ltd.
also issued an announcement on the pre-increase of its interim results in 2022, stating that the company's net profit attributable to shareholders of the parent company in the interim of 2022 is expected to be RMB 70.
5 billion to 72.
5 billion, an increase of 112% to 118% compared with the same period last year.

.
The main reason for the pre-increase is: the international oil price rose sharply in the first half of 2022, the company seized the favorable opportunity, continued to increase its exploration and development efforts, and achieved remarkable results in increasing reserves and production
.
Firmly implement quality improvement, cost reduction and efficiency enhancement, and the cost advantage has been consolidated
.
Benefiting from higher international oil prices, production growth and cost control, profitability in the first half of the year increased significantly
.

On July 15, Sinochem held a mid-2022 work conference in Beijing to summarize and review the operation work in the first half of the year, study and analyze the current economic situation, and deploy various key tasks in the second half of the year
.

The meeting held that in the first half of this year, under the influence of multiple factors, the international and domestic environment experienced some unexpected changes, and the prices of bulk commodities represented by crude oil and agricultural products rose rapidly and remained high
.
Under the "triple pressure" of shrinking demand, supply shock, and weakening expectations, the downward pressure on the domestic economy has increased, and the difficulties and challenges faced by enterprises in business operations have increased significantly
.
Under the strong leadership of the Sinochem Party Group, all employees have achieved remarkable results in fighting the epidemic, stabilizing production, promoting investment, focusing on integration, and strengthening innovation
.
In the first half of the year, Sinochem achieved operating income of 584.
9 billion yuan, a year-on-year increase of 11%; net profit was 25.
2 billion yuan, a year-on-year increase of 119%, making due contributions to the stability and development of the national economy
.

In addition, China Shenhua, the leader in the coal sector, recently announced its performance forecast for the first half of 2022
.
According to the preliminary statistics of China Shenhua, it is expected that the net profit attributable to shareholders under the Chinese Accounting Standards for Business Enterprises in the first half of 2022 will be 40.
6 billion to 41.
6 billion yuan, an increase of 14.
6 billion to 15.
6 billion yuan compared with the same period of the previous year, a year-on-year increase of 56.
1% ~59.
9%
.

China Shenhua attributed the increase in performance to: the Group's average coal sales price increased year-on-year, and the coal segment's profit increased year-on-year; the Group's electricity sales and average electricity sales price increased year-on-year, and the power generation segment's profit increased year-on-year; the Group's average income tax rate decreased year-on-year
.