| Element |
Explaination |
| Reasons of increase (decrease) for quarter compared with same quarter last year |
The reason for the improvement in net profit was mainly due to the higher sales price of petrochemical products and better operation compared to last year when PRC experienced blackout event in September. In addition, the revised commercial arrangements with Founding Shareholders positively impacted the net profit, despite the decline of crude oil price which burdened net profit with carried forward inventory. |
| Reasons of increase (decrease) for period compared with same period last year |
The reasons for the improved net profit were higher sales volume due to more stable operations, positive impact of commercial arrangements with founding shareholders and high petrochemical sale prices. |
| Reasons of increase (decrease) for quarter compared with previous quarter |
Net profit increased due to higher petrochemical sale prices and higher sales of high value refined products (gasoline, diesel and jet fuel). |
| Reclassifications in quarterly financial results |
Current portion of loans to employees has been reclassified from long term loans to current portion of long term loans. Current portion of employees benefits has been reclassified from employee benefits to accrued expenses and other liabilities. Provision against claims has been reclassified from accrued expenses and other liabilities to prepayments and other receivables. Catalysts have been reclassified from inventory to property, plant and equipment. |
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