Third quarterly report 2024
Stock code: 002493 Stock Abbreviation: Rongsheng Petrochemical Announcement No.: 2024-059
Rongsheng Petrochemical Co. Ltd.2024 Third Quarterly Report
The Company and all members of the Board of Directors confirm that the information
disclosed is true accurate and complete and has no false representations misleading
statements or material omissions.Important Content Notice:
1. The Board of Directors the Board of Supervisors and the directors supervisors and senior management confirm
that the contents of this quarterly report are true accurate and complete and have no false representations
misleading statements or material omissions and they shall severally and jointly accept legal responsibility for
such contents.
2. The chairman of the Company the person in charge of the Company’s accounting and the person in charge of
the accounting firm (accounting officer) hereby make representations in respect of the truthfulness accuracy
and completeness of the financial statements in this quarterly report.
3. Whether the Third Quarterly Report has been audited
□ Yes□ No
4. This third quarterly report is prepared in both Chinese and English. In case of any discrepancy between the two
versions the Chinese version shall prevail.I. Key Financial Data
(I) Key accounting data and financial indicators
Whether the Company needs to retroactively adjust or restate prior years’ accounting data
□Yes □No
Increase/decreas
e from the
Increase/decrease
beginning of the
in the current Beginning of year
Current reporting year to the end
reporting period to the end of the
period of the reporting
over the same reporting period
period over the
period last year
same period last
year
Operating income (RMB) 83946567914.37 -0.68% 245196312192.22 2.57%
Net profit attributable to shareholders of
18742137.68-98.48%876677020.82714.73%
the listed company (RMB)
Net profit attributable to shareholders
of the listed company net of non- 15815885.95 -98.74% 688192443.10 630.51%
recurring gains and losses (RMB)
Net cash flow from operating activities — — 19716461144.30 976.18%
1Third quarterly report 2024
(RMB)
Basic earnings per share (RMB per
0.002-98.40%0.09800.00%
share)
Diluted earnings per share (RMB per
0.002-98.40%0.09800.00%
share)
Weighted average return on net assets 0.06% -2.59% 1.99% 1.76%
Increase/decrease at the end of the
End of the
End of last year reporting period over the end of last
reporting period
year
Total assets (RMB) 395833160875.00 374918440311.68 5.58%
Owner’s equity attributable to
shareholders of the listed company 43847242345.65 44335891085.79 -1.10%
(RMB)
(II) Items and amounts of non-recurring gains and losses
□Applicable □Not applicable
Amount from the
Amount in the current beginning of the year to
Item
reporting period the end of the reporting
period
Gains or losses on disposal of non-current assets (including the part
-200699.065068742.88
written-off with provision for asset impairment accrued)
Government grants recognized in current gains and losses (excluding
government grants that are closely related to the Company's normal
business operations comply with national policy regulations are 6064776.91 23507364.11
enjoyed based on specified standards and have a continuous impact
on the Company's gains or losses)
Except for effective hedging business related to the normal business
operations of the Company changes in gains and losses of fair value
arising from trading financial assets and financial liabilities held by 1541856.12 223052119.96
non-financial enterprises as well as gains or losses from the disposal
of financial assets and financial liabilities.Fund possession cost included in current gains and losses charged to
89830.19303081.75
non-financial enterprises
Other non-operating revenues and expenditures except for the
-14579336.05-42188264.43
aforementioned items
Other gain/loss items falling within the definition of non-recurring
29805298.86100117077.36
gains or losses
Less: Affected amount of income tax 1995208.18 28867332.90
Affected amount of minority shareholders’ equity (after tax) 17800267.06 92508211.01
Total 2926251.73 188484577.72
Other gain/loss items falling within the definition of non-recurring gains or losses:
□Applicable □Not applicable
The Company has no other gain/loss items falling within the definition of non-recurring gains or losses.Explanation of the circumstances in which the non-recurring gain and loss items are defined as recurring gains and
losses in accordance with the Explanatory Announcement on Information Disclosure by Companies Offering
Securities to the Public No. 1 - Non-Recurring Gains and Losses.□Applicable □Not applicable
The Company has no explanation of the circumstances in which the non-recurring gain and loss items are defined as
recurring gains and losses in accordance with the Explanatory Announcement on Information Disclosure by
Companies Offering Securities to the Public No.1 - Non-Recurring Gains and Losses.
2Third quarterly report 2024
(III) Changes in key accounting data and financial indicators and reasons thereof
□Applicable □Not applicable
Ending balance Ending balance
Balance sheet in the reporting of the previous
Variations Reasons for change
items period (RMB year (RMB
10000)10000)
Trading financial Mainly due to the impact of changes in the
52079.4331008.7467.95%
assets Company's forward exchange contracts
Mainly due to the increase in the Company's
Advance payment 294962.85 149331.25 97.52%
advance payments for raw material purchases
Mainly due to the increase in the Company's
Construction in
5793024.34 4182067.11 38.52% investments in construction projects during the
progress
current period
Trading financial Mainly due to the impact of increased silver
133405.9062329.87114.03%
liabilities leasing for catalysts in the current period
Mainly due to an increase in the Company’s
Accounts payable 6888725.88 4974412.69 38.48%
operating payables for material purchases.Mainly due to the increase in the Company's
Contract liabilities 613596.90 442173.24 38.77%
advance payments received from customers
Mainly due to the increase in the consumption tax
Taxes payable 239129.58 47678.12 401.55%
payable at the end of the period
Mainly due to the impact of increased advance
Other current
76801.02 55199.08 39.13% payments received from customers on the
liabilities
corresponding taxes
Beginning of Same period
Income statement year to end of last year(RMB Variations Reasons for change
items reporting period 10000)
(RMB 10000)
Administrative Mainly due to the impact of increased inspection
79212.8859694.4732.70%
expenses expenses in the current period
Mainly due to the Company’s R&D project
R&D expenses 377281.40 616618.29 -38.81% expenses in the current period being lower than
the same period last year
Gains from change Mainly due to a year-on-year decrease in floating
8237.0637821.66-78.22%
in fair value income from paper assets in the current period
Mainly due to the impact of the Company’s
Other income 197962.34 11468.60 1626.12% enjoyment of the value-added tax additional
deduction policy during the current period
Mainly due to the increase in discount expenses
Investment income -12782.08 17451.06 -173.25% for accounts receivable financing in the current
period
Mainly due to the year-on-year increase in total
Income tax
29816.45 -72197.79 141.30% profit for the current period resulting in a
expenses
corresponding increase in income tax expense
Beginning of Same period
Cash flow year to end of last year (RMB Variations Reasons for change
statement items reporting period 10000)
(RMB 10000)
Mainly due to a year-on-year increase in net cash
Net cash flow from
1971646.11 -225027.06 976.18% received from the Company's buying and selling
operating activities
operations in the current period
Net cash flow from Mainly due to a year-on-year decrease in the net
2084882.633879726.59-46.26%
financing activities increase of bank borrowings by the Company
3Third quarterly report 2024
II. Shareholders’ Information
(I) Total number of ordinary shareholders and number of preferred shareholders with voting rights
restored and top ten shareholders’ shareholdings
Unit: share
Total number of ordinary
Total number of preferred shareholders with restored
shareholders at the end of the 96693 0
voting rights at the end of the reporting period (if any)
reporting period
Shareholdings of the top 10 shareholders (excluding shares lent through stock lending and borrowing)
Number of Pledged marking or
Sharehol shares held freezing
Nature of Number of
Name of Shareholder ding subject to
shareholder shares held
ratio sales Status of Number
restrictions shares
Domestic
Zhejiang Rongsheng Holding non-state-
52.95% 5361583209 inapplicable
Group Co. Ltd. owned legal
entity
Foreign
Aramco Overseas Company B.V. 10.00% 1012552501 inapplicable
legal entity
Domestic
Li Shuirong 6.35% 643275000 482456250 inapplicable
individual
Hong Kong Securities Clearing Foreign
1.85% 187566953 inapplicable
Company Limited legal entity
Domestic
Li Guoqing 0.95% 96525000 72393750 inapplicable
individual
Domestic
Xu Yuejuan 0.95% 96525000 inapplicable
individual
Domestic
Li Yongqing 0.95% 96525000 72393750 inapplicable
individual
Industrial and Commercial Bank of
China Limited - Huatai Berridge
Others 0.57% 57551651 inapplicable
CSI 300 Traded Open-End Index
Fund
Horizon Asset - Huaneng
Trust · Jiayue No. 7 Single Fund
Others 0.54% 55148287 inapplicable
Trust Horizon Asset Huixin No. 43
Single Asset Management Plan
Huaneng Guicheng Trust
Corporation Limited - Huaneng
Others 0.49% 50078500 inapplicable
Trust - Rongyue Weicheng Pooled
Fund Trust Plan
Shareholdings of the top 10 shareholders not subject to sales restrictions (excluding shares lent through stock lending and
borrowing and executive restricted shares)
Number of shares held Class and number of shares
Name of Shareholder
without sales restrictions Class of shares Number
RMB ordinary
Zhejiang Rongsheng Holding Group Co. Ltd. 5361583209 5361583209
shares
RMB ordinary
Aramco Overseas Company B.V. 1012552501 1012552501
shares
Hong Kong Securities Clearing Company Limited 187566953 RMB ordinary 187566953
4Third quarterly report 2024
shares
RMB ordinary
Li Shuirong 160818750 160818750
shares
RMB ordinary
Xu Yuejuan 96525000 96525000
shares
Industrial and Commercial Bank of China Limited
RMB ordinary
- Huatai Berridge CSI 300 Traded Open-End Index 57551651 57551651
shares
Fund
Horizon Asset - Huaneng Trust · Jiayue No. 7
RMB ordinary
Single Fund Trust Horizon Asset Huixin No. 43 55148287 55148287
shares
Single Asset Management Plan
Huaneng Guicheng Trust Corporation Limited -
RMB ordinary
Huaneng Trust - Rongyue Weicheng Pooled Fund 50078500 50078500
shares
Trust Plan
RMB ordinary
Dai Deming 48000000 48000000
shares
RMB ordinary
Ni Xincai 47925000 47925000
shares
Among the top 10 shareholders Zhejiang Rongsheng Holding Group Co.Ltd. is the controlling shareholder of the Company Li Yongqing and Li
Guoqing are nephews of Li Shuirong Chairman of the Board of Directors
Explanation of the relationship or concerted action of Zhejiang Rongsheng Holding Group Co. Ltd. Xu Yuejuan is sister-in-
among the above shareholders law of Li Shuirong law of Li Shuirong forming associated relationships. In
addition to the above associated relationships the Company has no
knowledge of whether other shareholders are related to each other or act in
concert.Zhejiang Rongsheng Holding Group Co. Ltd. held 5321583209 shares
Explanation of the top 10 shareholders’ participation
through an ordinary account and 40000000 shares through a credit
in securities margin trading (if any)
account.Note: Among the top 10 shareholders Rongsheng Petrochemical Co. Ltd. held 553232858 shares in its special
securities account for repurchase accounting for 5.46% of the Company’s total share capital.Shareholders holding more than 5% of shares top 10 shareholders and top 10 shareholders of unrestricted shares
in circulation participating in stock lending and borrowing.□ Applicable□ Not applicable
Outstanding changes in the top 10 shareholders and top 10 shareholders of unrestricted share from the previous
period due to stock lending/return under the stock lending and borrowing program.□ Applicable□ Not applicable
(II) The total number of preferred shareholders of the Company and the shareholdings of the top 10
preferred shareholders
□ Applicable□ Not applicable
III. Other Important Matters
The Company's wholly-owned subsidiary Ningbo Zhongjin Petrochemical Co. Ltd. has applied to the
Ningbo Branch of the People's Insurance Company of China (PICC) for a customs duty guarantee insurance limit
of no more than RMB 400 million. The guarantee period is from September 1 2024 to August 31 2025 and the
company will provide joint liability guarantee for this application subject to the terms agreed upon in the letter of
guarantee signed by both parties.
5Third quarterly report 2024
IV. Quarterly Financial Statements
(i) Financial statements
1. Consolidated balance sheet
Prepared by: Rongsheng Petrochemical Co. Ltd.September 30 2024
Unit: RMB
Item Ending balance Beginning balance
Current assets:
Cash and cash equivalents 29946705808.99 13070255466.02
Settlement reserves
Lending funds
Financial assets held for trading 520794342.58 310087429.45
Derivative financial assets
Notes receivable
Accounts receivable 5204941804.69 4737733703.66
Receivables financing 225958747.04 175036242.93
Advance payment 2949628546.03 1493312465.86
Premiums receivable
Reinsurance receivables
Reinsurance contract reserves
receivable
Other receivables 4943660827.64 4510228597.49
Of which: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventory 54574968236.78 61733657342.07
Of which: data resources
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 4133871117.75 5297128974.31
Total current assets 102500529431.50 91327440221.79
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 9449461031.57 9183711444.96
Other equity instrument investments
6Third quarterly report 2024
Other non-current financial assets
Investment property 10191990.10 10395574.60
Fixed assets 212414266334.48 219699679397.52
Construction in progress 57930243357.90 41820671070.59
Productive biological assets
Oil and gas assets
Right-of-use assets 184456840.11 200102141.16
Intangible assets 7975429450.81 7128930412.44
Of which: data resources
Development expenses
Of which: data resources
Goodwill
Long-term deferred expenses 45701.13
Deferred tax assets 725055281.50 690808878.08
Other non-current assets 4643527157.03 4856655469.41
Total non-current assets 293332631443.50 283591000089.89
Total assets 395833160875.00 374918440311.68
Current liabilities:
Short-term borrowings 41132679714.20 44810936767.94
Borrowings from the central bank
Borrowings from other banks
Financial liabilities held for trading 1334059047.59 623298741.33
Derivative financial liabilities
Notes payable 3119616971.70 4195471402.63
Accounts payable 68887258801.07 49744126901.38
Advance receipts
Contract liabilities 6135969018.94 4421732432.83
Financial assets sold under repurchase
agreements
Deposits and interbank deposits
Agency securities trading funds
Agency underwriting securities funds
Employee compensation payable 917329968.36 1032220776.56
Taxes payable 2391295793.61 476781167.70
Other accounts payable 12985415931.97 16919133504.47
Of which: Interest payable
Dividends payable 228000000.00
Handling charges and commission
payable
Reinsurance payables
Liabilities held for sale
7Third quarterly report 2024
Non-current liabilities due within one
32103314715.7230286684174.81
year
Other current liabilities 768010212.97 551990844.96
Total current liabilities 169774950176.13 153062376714.61
Non-current liabilities:
Reserves for insurance contracts
Long term borrowings 128742099804.18 125179583821.18
Bonds payable
Of which: Preferred shares
Perpetual bond
Lease liabilities 176951006.03 193002312.38
Long-term payable
Long-term employee compensation
payable
Estimated liabilities
Deferred income 188661263.45 195581593.25
Deferred income tax liabilities 1661419023.50 1619074228.97
Other non-current liabilities
Total non-current liabilities 130769131097.16 127187241955.78
Total liabilities 300544081273.29 280249618670.39
Owner’s equity:
Share capital 10125525000.00 10125525000.00
Other equity instruments
Of which: Preferred shares
Perpetual bond
Capital reserve 10826792988.46 10825322259.36
Less: Treasury stock 6987009623.02 6619807176.02
Other comprehensive income 101591923.60 110203866.35
Special reserves 27009650.80 60677296.91
Surplus reserves 974151644.68 974151644.68
General risk provision
Undistributed profits 28779180761.13 28859818194.51
Total owner’s equity attributable to the
43847242345.6544335891085.79
parent company
Minority interests 51441837256.06 50332930555.50
Total owners' equity 95289079601.71 94668821641.29
Total liabilities and owners' equity 395833160875.00 374918440311.68
Legal representative: Li Shuirong Person in charge of accounting work: Wang Yafang Person in charge of the accounting firm:
Zhang Shaoying
2. Consolidated statement of income from the beginning of the year to the end of the reporting period
Unit: RMB
8Third quarterly report 2024
Amount incurred in the previous
Item Current amount incurred
period
I. Gross operating income 245196312192.22 239047311585.82
Of which: Operating income 245196312192.22 239047311585.82
Interest income
Premiums earned
Handling charge and
commission income
II. Gross operating costs 244885600066.20 240281225603.42
Of which: Operating costs 215370264931.91 210858895446.59
Interest expense
Handling charge and
commission expenses
Surrender value
Net payments for insurance
claims
Net appropriation of reserves
for insurance liability
Policy dividend payment
Reinsurance costs
Taxes and surcharges 19424672923.43 16691424365.90
Sales expense 138759022.60 128848238.16
Administrative expenses 792128845.68 596944694.44
R&D expenses 3772813961.10 6166182914.40
Financial expenses 5386960381.48 5838929943.93
Of which: Interest expense 5231950312.07 5473478558.95
Interest income 387056811.27 334625288.00
Add: Other income 1979623413.17 114686013.53
Investment income (loss
-127820753.53174510647.68
recognized with "-")
Of which: Income from
investments in associates and joint 255317245.61 293441068.40
ventures
Gains on
derecognition of financial assets
measured at amortized cost
Exchange gains (losses
recognized with "-")
Net exposure to hedging gains
(losses recognized with "-")
Gains (losses recognized with "-
82370581.01378216565.59
") on change in fair value
Credit impairment losses (losses
-104498154.44-24948118.42
recognized with "-")
Loss on assets impairment (losses
-1013849.48-57719683.02
recognized with "-")
9Third quarterly report 2024
Gains (losses recognized with "-
5068742.883771329.84
") on disposal of assets
III. Operating profit (losses recognized
2144442105.63-645397262.40
with "-")
Add: Non-operating income 8002004.37 2330318.67
Less: Non-operating expenses 50190268.80 11124531.88
IV. Total profit (total losses recognized
2102253841.20-654191475.61
with "-")
Less: Income tax expense 298164471.89 -721977896.97
V. Net profit (net loss recognized with "-
1804089369.3167786421.36
")
(i) by business continuity
1. Net profit from continuing
1804089369.3167786421.36
operations (net loss recognized with "-")
2. Net profit from discontinued
operations (net loss recognized with "-")
(ii) by ownership
1. Net profit attributable to
shareholders of the parent company (net 876677020.82 107602853.66
losses recognized with "-")
2. Minority shareholders' gains and
927412348.49-39816432.30
losses (net losses recognized with "-")
VI. Other comprehensive income after
-25003927.66171255461.92
tax
Other comprehensive income
attributable to owners of the parent -8611942.75 168730751.65
company after tax
(i) Other comprehensive
income which cannot be reclassified -590642.24
to gains and losses
1. Remeasurement of changes in
defined benefit plans
2. Other comprehensive income
that cannot be transferred to gains or
losses under the equity method
3. Changes in fair value of
investments in other equity instruments
4. Changes in fair value of the Co
mpany's own credit risk
5. Other -590642.24
(ii) Other comprehensive income to
-8021300.51168730751.65
be reclassified to gains or losses
1. Other comprehensive income
available for transfer to gains or losses 31264062.93 -23736734.91
under the equity method
2. Changes in fair value of other
creditors investments
3. Amount of financial assets
reclassified into other comprehensive
income
10Third quarterly report 2024
4. Provision for credit impairment
of other debt investments
5. Cash flow hedge reserve
6. Difference in translation of
-39285363.44192467486.56
foreign currency financial statements
7. Other
Other comprehensive income
attributable to minority shareholders -16391984.91 2524710.27
after tax
VII. Total comprehensive income 1779085441.65 239041883.28
(i) Total comprehensive income
attributable to owners of the parent 868065078.07 276333605.31
company
(ii) Total comprehensive income
911020363.58-37291722.03
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share 0.09 0.01
(ii) Diluted earnings per share 0.09 0.01
Legal representative: Li Shuirong Person in charge of accounting work: Wang Yafang Person in charge of the accounting firm:
Zhang Shaoying
3. Consolidated cash flow statement from the beginning of the year to the end of the reporting period
Unit: RMB
Item Current period's incidence Prior period's incidence
I. Cash flows from operating activities:
Cash received from sales of goods and
275403353930.66274866301259.77
services
Net increase in deposits from
customers and other banks
Net increase in borrowing from central
banks
Net increase in loans from other
financial institutions
Cash received from receiving
insurance premiums of original insurance
contracts
Net cash received from reinsurance
business
Net increase in deposits and
investment of the insured
Cash received from interest handling
charges and commissions
Net increase in borrowing funds
Net increase in repurchase business
capital
Net cash received from securities
trading agency
11Third quarterly report 2024
Refunds of taxes and levies 5027967123.04 5648797165.48
Cash received relating to other
3289326469.984915402756.91
operating activities
Subtotal of cash inflows for operating
283720647523.68285430501182.16
activities
Cash paid for goods purchased and
241595326477.71262355709952.97
services received
Net increase in customers loans and
advances
Net increase in deposits with the
central bank and other banks
Cash paid for claims under original
insurance contracts
Net increase in lending funds
Cash paid for interests handling
charges and commissions
Cash paid for policy dividends
Cash paid to and on behalf of
3028083821.053038294442.60
employees
Payments of all types of taxes 17474462782.72 18354569355.34
Cash paid relating to other operating
1906313297.903932198026.00
activities
Subtotal of cash outflows from operating
264004186379.38287680771776.91
activities
Net cash flow from operating activities 19716461144.30 -2250270594.75
II. Cash flows from investing activities:
Cash received from investment
2117925440.322126232888.36
recovery
Cash received from the return on
13228639.6039812378.80
investment
Net cash received from the disposal of
fixed assets intangible assets and other 259399359.92 26760909.35
long-term assets
Net cash received from the disposal of
18698663.16
subsidiaries and other business units
Cash received relating to other
59442128.95334509631.18
investing activities
Subtotal of cash inflows from investing
2449995568.792546014470.85
activities
Cash paid for purchase and
construction of fixed assets intangible 24471599974.54 21535470579.16
assets and other long-term assets
Cash paid for investments 1811183298.84 2068508327.57
Net increase in pledge loans
Net cash paid for acquisition of
subsidiaries and other business units
Cash paid relating to other investing
78973342.66239472399.55
activities
Subtotal of cash outflows from investing 26361756616.04 23843451306.28
12Third quarterly report 2024
activities
Net cash flow from investment activities -23911761047.25 -21297436835.43
III. Cash flow from financing activities:
Cash received from absorption of
228000000.0028199000.00
investment
Including: cash received by
subsidiaries from investments of 228000000.00
minority shareholders
Cash received from borrowings 100091778736.68 107937870424.39
Cash received relating to other
33099227104.2918669000000.00
financing activities
Subtotal of cash inflows from financing
133419005840.97126635069424.39
activities
Cash paid for repayment of debts 98277461250.13 72204310393.23
Cash paid for distribution of dividends
7102693648.857575972648.95
and profits or payment of interests
Including: dividends or profits paid
228000000.00
by subsidiaries to minority shareholders
Cash paid relating to other financing
7190024667.498057520433.04
activities
Subtotal of cash outflows from financing
112570179566.4787837803475.22
activities
Net cash flow from financing activities 20848826274.50 38797265949.17
IV. Effect of change in exchange rate on
-245375624.97-289373874.63
cash and cash equivalents
V. Net increase in cash and cash
16408150746.5814960184644.36
equivalents
Add: opening balance of cash and cash
11486855097.5215459279803.77
equivalents
VI. Ending balance of cash and cash
27895005844.1030419464448.13
equivalents
(II) Financial statements related to adjustments to items at the beginning of the year of
first-time implementation of new accounting standards from 2024 onwards
□Applicable □Not applicable
(III) Audit reports
Whether the Third Quarterly Report has been audited
□ Yes □ No
The Third Quarterly Report of the Company has not been audited.Board of Directors of Rongsheng Petrochemical Co. Ltd.October 29 2024
13
