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Highlights
- China Petroleum & Chemical Corporation (NYSE:SNP) stock went up by 3.83% after reporting strong revenue growth on Aug 29.
- China Petroleum reported a US$6.18 billion profit attributed to its shareholders in the first half of 2021.
- Li Auto Inc (Nasdaq:LI) reported revenue of US$780.4 million in Q2 2021.
China Petroleum & Chemical Corporation (NYSE:SNP) and Li Auto Inc (Nasdaq:LI) have reported strong six monthly and quarterly revenue growth, respectively. China Petroleum reported its earnings on Aug 29, while Li Auto reported on Aug 30.
The SNP stock was up 3.83 percent to US$47.12 at 11.44 am ET, while Li stock fell by 2.59 percent to US$28.56 at 12 am ET after the earnings report.
Here we explore the half yearly and quarterly performance of the two companies.
China Petroleum & Chemical Corporation
The Chinese energy giant reported revenue of US$194.82 billion in the first six months of 2021 ended June 30, up 22.1 percent YoY. The company’s earnings per share were U$0.051. The profit attributed to shareholders was US$6.18 billion in the period. The liability to asset ratio for the period was 51.09 percent, showing the company’s sound financial position.
The China-based company develops oil fields and produces and refines crude oil and natural gas. It also owns oil storage and service stations in China.
Source: Pixabay.
The company has a market capitalization of US$56.8 billion, a P/E ratio of 5.44, a forward P/E one year of 6.06, and an EPS of US$8.63. Its annual dividend is US$3.598. SNP’s 52-week highest and lowest stock prices were US$58.40 and US$38.18, respectively. The stock price went up by 5.65 percent YTD.
Li Auto Inc
Li Auto is a China-based electric vehicle company. It also runs EV charging stations and offers car internet services. The company reported total revenue of US$780.4 million in Q2 this year, up 40.9 percent YoY.
The company’s gross profit was US$147.6 million, up 54.5 percent YoY. Loss from operations was US$83 million and the net loss was US436.5 million.
Li Auto had US$218 million operating cash flow and US$152.1 million free cash flow at the end of the quarter.
Also read: How a rise in TSMC chip price could affect the electronics industry?
Its market capitalization is US$29 billion. It has a forward P/E one year of -172.59. Li Auto’s 52-week highest and lowest stock prices were US$47.70 and US$15.02, respectively.
Bottom line:
The SNP hopes to further strengthen its revenue position as the economy picks up from the pandemic recession. Li Auto is also expecting strong growth in the upcoming quarters as the Chinese EV market is growing at a rapid pace.
