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Hengyi Petrochemical Forecasts 3,318%-3,405% Profit Surge for First Three Quarters

Hengyi Petrochemical said it expects attributable net profit of 7.9 billion to 8.1 billion yuan for the first three quarters of 2026, up 3,318.59%-3,405.13% from 231 million yuan a year earlier. Non-recurring net profit is seen at 7.83 billion to 8.03 billion yuan, with basic earnings per share of 2.30-2.36 yuan, driven by full-load operations at its Brunei refinery and strong sales of its caprolactam-polyamide project. The figures are unaudited.

Original source

AI take

The scale of the swing matters less than its composition: the lift is attributed to a single Brunei refinery running at full load and a downstream caprolactam-polyamide project, so this reads as a capacity-ramp story rather than a broad petrochemical margin recovery. That distinction matters for anyone tracking Chinese refining and chemical capacity moving offshore. The open question is whether full-load Brunei operations and the polyamide ramp can be sustained once the comparison base normalizes, and how unaudited figures hold up.

Generated by AI for reference only.

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