Gelonghui November 1st | csc research reports point out that china petroleum & chemical corporation (600028.SH) Q3 quarterly performance declined mainly due to the unilateral uptrend of oil prices in Q3 last year, while in 24Q3, oil prices plummeted rapidly, leading to a significant year-on-year decrease in inventory income and the impact of declining gross profit of petroleum and petrochemical products. The company's overall operation remains stable, with diesel and some chemical products facing profit pressure. In addition, the company's controlling shareholder, China Petroleum & Chemical Corporation, has increased its shareholding in the company within 12 months starting from November 2023, accumulating a total of 297,263,456 shares. Steadily advancing repurchases and shareholdings demonstrates long-term development confidence.