On October 29, PETROCHINA recorded an Intraday Rise of 3.22% in Regular Trading, trading at HK$10.27, with turnover of HK$80.44 million.

The move was supported by newly disclosed third-quarter results showing solid profit growth, alongside an increase in holdings by a major shareholder that reinforced investor attention on the company’s fundamentals.

PETROCHINA reported revenue of RMB793.573 billion for the third quarter, up 10.4% year over year, while net profit attributable to shareholders rose 21.6% to RMB51.84 billion. For the first nine months, revenue reached RMB2.321 trillion and net profit attributable to shareholders increased 21.9% to RMB155.776 billion. Adjusted third-quarter net profit was RMB53.366 billion, up 23.8%, and net cash flow from operating activities in the first nine months rose 8.8% to RMB373.539 billion. The company said earnings were driven by higher crude prices, increased natural gas output, and tighter control of oil and gas production costs. Separately, the latest disclosure showed the fourth-largest shareholder increased its position by 373 million shares to 1.386 billion shares, or 0.76% of total share capital.

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