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Pivotal LIBERTY studies (LIBERTY-CD and LIBERTY-UC) previously demonstrated superior efficacy of subcutaneous (SC) infliximab over placebo for maintenance therapy in patients with Crohn's disease (CD) and ulcerative colitis (UC)[1], [2] ZYMFENTRA® is the first and only FDA-approved subcutaneous infliximab Late-breaking post hoc analysis of the LIBERTY studies suggests no meaningful differences in efficacy and safety outcomes at week 54 and 102 weeks between monotherapy and combination therapy of SC infliximab with immunosuppressants[3] JERSEY CITY, N.J., Oct. 30, 2024 /PRNewswire/ -- Celltrion USA today announced a late-breaking post hoc analysis of the pivotal LIBERTY studies (LIBERTY-CD and LIBERTY-UC) of ZYMFENTRA® (infliximab-dyyb), during the American College of Gastroenterology (ACG) 2024 Annual Scientific Meeting. The data demonstrate that clinical outcomes for patients treated with ZYMFENTRA monotherapy were comparable to those for patients on combination therapy with immunosuppressants (IS), suggesting that monotherapy could be a potential treatment option for patients with inflammatory bowel disease (IBD).[3] One-year data for the LIBERTY studies were originally published in the journal Gastroenterology.[4] ZYMFENTRA, the first and only FDA-approved subcutaneous infliximab, had previously shown superior efficacy over placebo for maintenance therapy in patients with Crohn's disease (CD) and ulcerative colitis (UC) in the randomized LIBERTY-CD and LIBERTY-UC studies.[1], [2] The new post hoc analysis explored the impact of baseline IS use by comparing outcomes between monotherapy and combination therapy.[3] The analysis included 429 patients from the CD and UC cohorts across the LIBERTY studies (192 patients with CD [monotherapy, n=126; combination therapy, n=66] and 237 patients with UC [monotherapy, n=180; combination therapy, n=57]). In both studies, there were no meaningful differences in efficacy outcomes between monotherapy and combination therapy at Week 54 or Week 102, despite combination therapy generally showing higher mean trough levels of infliximab after Week 10. Additionally, the overall safety profile was comparable between monotherapy and combination therapy throughout the pooled maintenance and extension phase.[3] "The new data strengthens the case for ZYMFENTRA monotherapy as a potential treatment option for patients with Crohn's disease and ulcerative colitis," said Hetal Patel, PharmD MBA, Head of Medical Affairs at Celltrion USA. "At Celltrion, we are committed to offering therapies that help patients and healthcare providers make informed, personalized treatment decisions. These findings suggest that ZYMFENTRA could offer flexibility in treatment approaches, providing confidence in monotherapy as an alternative to combination therapy, while maintaining effective disease control." About Celltrion USA Celltrion USA is Celltrion's U.S. subsidiary established in 2018. Headquartered in New Jersey, Celltrion USA is committed to expanding access to innovative biologics to improve care for U.S. patients. Celltrion currently has five biosimilars approved by the U.S. FDA: INFLECTRA® (infliximab-dyyb), TRUXIMA® (rituximab-abbs), HERZUMA® (trastuzumab-pkrb), VEGZELMA® (bevacizumab-adcd) and YUFLYMA®(adalimumab-aaty) as well as a new biologic ZYMFENTRA®. Celltrion USA will continue to leverage Celltrion's unique heritage in biotechnology, supply chain excellence and best-in-class sales capabilities to improve access to high-quality biopharmaceuticals for U.S. patients. For more information, please visit: www.celltrionusa.com. About ZYMFENTRA® (infliximab-dyyb) ZYMFENTRA is a prescription medicine used as an injection under the skin (subcutaneous injection) by adults for the maintenance treatment of: Moderately to severely active ulcerative colitis following treatment with an infliximab product given by intravenous infusion (IV) and moderately to severely active Crohn's disease following treatment with an infliximab product given by intravenous infusion (IV). ZYMFENTRA blocks the action of tumor necrosis factor-alpha (TNF-alpha), a protein that can be overproduced in response to certain diseases and cause the immune system to attack normal, healthy parts of the body. ZYMFENTRA (infliximab-dyyb) was approved by the FDA through the Biologics License Application (BLA) under the 351 (a) pathway of the Public Health Service Act (a "stand-alone" BLA). ZYMFENTRA is a self-injected form of infliximab and thus will be under patent protection for its dosage form by 2037 and for its route of administration by 2040. ZYMFENTRA® (infliximab-dyyb) U.S. Use and Important Safety InformationZYMFENTRA is a prescription medicine indicated in adults for maintenance treatment of: Moderately to severely active Crohn's disease following treatment with an infliximab product administered intravenously. Moderately to severely active ulcerative colitis following treatment with an infliximab product administered intravenously. It is not known if ZYMFENTRA is safe and effective in children under 18 years of age.What is the most important information I should know about ZYMFENTRA? SERIOUS INFECTIONSPatients treated with ZYMFENTRA are at increased risk for developing serious infections involving various organ systems and sites that may lead to hospitalization or death. Discontinue ZYMFENTRA if a patient develops a serious infection or sepsis. Reported infections include: Active tuberculosis (TB), including reactivation of latent TB. Patients frequently presented with disseminated or extrapulmonary disease. Patients should be tested for latent TB before and during treatment with ZYMFENTRA. Treatment for latent infection should be initiated prior to treatment with ZYMFENTRA. Invasive fungal infections, including histoplasmosis, coccidioidomycosis, candidiasis, aspergillosis, blastomycosis, and pneumocystosis. Patients may present with disseminated, rather than localized, disease. Empiric anti-fungal therapy should be considered in patients at risk for invasive fungal infections who develop severe systemic illness. Bacterial, viral, and other infections due to opportunistic pathogens, including Legionella and Listeria. The risks and benefits of treatment with ZYMFENTRA should be carefully considered prior to initiating therapy in patients with chronic or recurrent infection. Closely monitor patients for the development of signs and symptoms of infection during and after treatment with ZYMFENTRA, including the possible development of TB in patients who tested negative for latent TB infection prior to initiating therapy.Risk of infection may be higher in patients greater than 65 years of age, patients with comorbid conditions and/or patients taking concomitant immunosuppressant therapy. In clinical trials, other serious infections observed in patients treated with infliximab included arthritis bacterial, pneumonia, and urinary tract infection. MALIGNANCIESMalignancies, some fatal, have been reported in children, adolescents, and young adults treated with TNF blockers, including infliximab products.Approximately half of these cases were lymphomas, including Hodgkin's and non-Hodgkin's lymphoma. The other cases represented a variety of malignancies, including rare malignancies that are usually associated with immunosuppression and malignancies that are not usually observed in children and adolescents. The malignancies occurred after a median of 30 months after the first dose of therapy. Most of the patients were receiving concomitant immunosuppressants. Post-marketing cases of hepatosplenic T-cell lymphoma, a rare type of T-cell lymphoma, have been reported in patients treated with TNF blockers, including infliximab products. These cases have had a very aggressive disease course and have been fatal. The majority of reported cases have occurred in patients with Crohn's disease or ulcerative colitis, and most were in adolescent and young adult males. Almost all of these patients had received treatment with azathioprine or 6-mercaptopurine concomitantly with a TNF blocker at or prior to diagnosis. Carefully assess the risks and benefits of treatment with ZYMFENTRA, especially in these patient types.In clinical trials of all TNF blockers, more cases of malignancies were observed compared with controls and the expected rate in the general population. In clinical trials of some TNF blockers, including infliximab products, more cases of other malignancies were observed compared with controls. As the potential role of TNF blocker therapy in the development of malignancies is not known, caution should be exercised when considering treatment of patients with a current or a past history of malignancy. Melanoma and Merkel cell carcinoma have been reported in patients treated with TNF blocker therapy, including infliximab products. Periodic skin examination is recommended for all patients, particularly those with risk factors for skin cancer. CONTRAINDICATIONSZYMFENTRA is contraindicated in patients with a previous severe hypersensitivity reaction to infliximab-dyyb, other infliximab products, any of the inactive ingredients of ZYMFENTRA or any murine proteins (severe hypersensitivity reactions have included anaphylaxis, hypotension, and serum sickness). HEPATITIS B VIRUS REACTIVATIONTNF blockers, including infliximab products, have been associated with reactivation of hepatitis B virus (HBV) in patients who are chronic carriers. Some cases were fatal. Patients should be tested for HBV infection before initiating ZYMFENTRA. For patients who test positive, consult a physician with expertise in the treatment of hepatitis B. Exercise caution when prescribing ZYMFENTRA for patients identified as carriers of HBV, and monitor closely for active HBV infection during and following termination of therapy with ZYMFENTRA. Discontinue ZYMFENTRA in patients who develop HBV reactivation and initiate antiviral therapy with appropriate supportive treatment. Exercise caution when considering resumption of ZYMFENTRA, and monitor patients closely. HEPATOTOXICITYHepatobiliary disorders, including acute liver failure, jaundice abnormal hepatic function, hepatic steatosis, hepatitis, hepatotoxicity, hyperbilirubinemia, and non-alcoholic fatty liver, have been reported in patients receiving infliximab products post-marketing. Some cases were fatal or required liver transplant. Aminotransferase elevations were not noted prior to discovery of liver injury in many cases. Patients with symptoms or signs of liver dysfunction should be evaluated for evidence of liver injury. If jaundice and/or marked liver enzyme elevations (eg, ≥5 times the upper limit of normal) develop, ZYMFENTRA should be discontinued, and a thorough investigation of the abnormality should be undertaken. CONGESTIVE HEART FAILURECases of worsening congestive heart failure (CHF) and new onset CHF have been reported with TNF blockers. Some cases had a fatal outcome. In several exploratory trials of other TNF blockers in the treatment of CHF, there were greater proportions of TNF-blocker-treated patients who had CHF exacerbations requiring hospitalization or increased mortality. ZYMFENTRA has not been studied in patients with a history of CHF and ZYMFENTRA should be used with caution in patients with CHF. HEMATOLOGIC REACTIONCases of leukopenia, neutropenia, thrombocytopenia, and pancytopenia (some fatal) have been reported. The causal relationship to infliximab-product therapy remains unclear. Exercise caution in patients who have ongoing or a history of significant hematologic abnormalities. Advise patients to seek immediate medical attention if they develop signs and symptoms of blood dyscrasias or infection. Consider discontinuation of ZYMFENTRA in patients who develop significant hematologic abnormalities. HYPERSENSITIVITY AND OTHER ADMINISTRATION REACTIONSIn post-marketing experience, serious systemic hypersensitivity reactions (including anaphylaxis, hypotension, and serum sickness) have been reported following administration of infliximab products. If an anaphylactic or other clinically significant hypersensitivity reaction occurs, institute appropriate therapy and discontinue ZYMFENTRA. INJECTION SITE REACTIONSIn clinical studies, localized injection-site reactions were reported following administration of ZYMFENTRA. If a clinically significant injection-site reaction occurs, institute appropriate therapy and discontinue ZYMFENTRA. NEUROLOGIC REACTIONSAgents that inhibit TNF have been associated with central nervous system (CNS) manifestation of systemic vasculitis, seizure, and new onset or exacerbation of CNS demyelinating disorders, including multiple sclerosis and optic neuritis, and peripheral demyelinating disorders, including Guillain-Barré syndrome. Exercise caution when considering ZYMFENTRA in patients with these disorders and consider discontinuation if these disorders develop. RISK OF INFECTION WITH CONCURRENT ADMINISTRATION OF OTHER BIOLOGICS PRODUCTSSerious infections and neutropenia have been reported with concurrent use of ZYMFENTRA with other immunosuppressive biological products. The concurrent use of ZYMFENTRA with other immunosuppressive biological products used to treat UC and CD may increase the risk of infection and is not recommended. RISK OF ADDITIVE IMMUNOSUPPRESSIVE EFFECTS FROM PRIOR BIOLOGICAL PRODUCTSConsider the half-life and mode of action of prior biological products to avoid unintended additive immunosuppressive effects when initiating ZYMFENTRA. AUTOIMMUNITYTreatment with TNF blockers may result in the formation of autoantibodies and in the development of a lupus-like syndrome. Discontinue ZYMFENTRA treatment if symptoms of a lupus-like syndrome develop. VACCINATIONS AND USE OF LIVE VACCINES/THERAPEUTIC INFECTIOUS AGENTSPrior to initiating ZYMFENTRA, update vaccinations in accordance with current vaccination guidelines. Live vaccines or therapeutic infectious agents should not be given with ZYMFENTRA due to the possibility of clinical infections, including disseminated infections. At least a 6-month waiting period following birth is recommended before the administration of any live vaccine to infants exposed in utero to ZYMFENTRA. ADVERSE REACTIONSIn clinical trials with ZYMFENTRA, the most common adverse reactions occurring in ≥3% of ZYMFENTRA -treated patients included site reactions, COVID-19, anemia, arthralgia, infection site reaction, increased alanine aminotransferase and abdominal pain for UC, and COVID-19, headache, upper respiratory tract infection, injection site reaction, diarrhea, increased blood creatine phosphokinase, arthralgia, increased alanine aminotransferase, hypertension, urinary tract infection, neutropenia, dizziness and leukopenia for CD. Please click for Full U.S. Prescribing Information. Globally, prescribing information varies; refer to the individual country product label for complete information. References [1] Jean F. Colombel et al., Subcutaneous infliximab (CT-P13 SC) as maintenance therapy for Crohn's disease: 2 years results of the LIBERTY-CD study. Poster (Su1762). Presented at DDW 2024. [2] Bruce E. Sands et al., Subcutaneous infliximab (CT-P13 SC) for ulcerative colitis: 2-year extension results of the LIBERTY-UC study. Poster (Su1779). Presented at DDW 2024. [3] Bruce E. Sands et al., Efficacy, Safety and Immunogenicity of Subcutaneous Infliximab (CT-P13 SC) Monotherapy versus Combination Therapy with Immunosuppressants – A Post hoc Analysis of LIBERTY-CD and LIBERTY-UC Studies. Oral Presentation (abstract no. 44). Presented at ACG 2024. [4] Efficacy, safety and immunogenicity of subcutaneous infliximab (CT-P13 SC) monotherapy versus combination therapy with immunosuppressants – post hoc analysis of LIBERTY-CD and LIBERTY-UC study, Gastroenterology, Volume 166, Issue 3, Supplement, 2024, pages S11-S12, https://doi.org/10.1053/j.gastro.2023.11.051. For further information please contact:Samantha Crankoscranko@jpa.com +1 917-453-0346
GOTHENBURG, Sweden, Oct. 30, 2024 /PRNewswire/ -- SKF is committed to creating a more focused and resilient company to serve its customers even better and accelerate profitable growth. As part of the decision from the Group's strategic review of its aerospace business, communicated on 27 October 2023, to focus on core aerospace business and to exit areas that are non-strategic, SKF has signed an agreement to divest its ring and seal operation in Hanover, Pennsylvania, USA. The Hanover ring and seal operation is divested to Carco PRP Group, through its US aerospace subsidiary, PCTI, for a total enterprise value of USD 220 million, corresponding to approximately SEK 2.3 billion. The Hanover facility manufactures mechanical seals and rings, representing 2023 annual sales of approximately SEK 700 million. "I'm pleased that we have been able to deliver on our prior promises and successfully reached an agreement to divest this successful but non-core business at accretive multiples. With a new owner, I'm confident that Hanover will continue to provide customers with top quality solutions. Aerospace will remain one of our largest customer industries and we will continue to invest and strengthen our position in core Aerospace segments", says Rickard Gustafson, President and CEO. SKF will continue to focus its aerospace business around high growth core areas related to aeroengine and aerostructure bearing offers, representing annual sales of approximately SEK 6 billion. The customer offering in these core areas will be further strengthened through investments in product development, customer service and state of the art manufacturing. As previously announced, SKF is exploring options to exit the precision elastomeric device (PED) aerospace operation in Elgin, Illinois, USA. The PED business is also non-strategic but smaller than Hanover and the exit process is proceeding according to plan. The Hanover divestment is expected to close during the first quarter of 2025, subject to authorities' approval. Aktiebolaget SKF (publ) CONTACT: For further information, please contact:PRESS: Carl Bjernstam, Head of Media Relationstel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com INVESTOR RELATIONS: Sophie Arnius, Head of Investor Relationstel: 46 31-337 8072; mobile: 46 705-908 072; e-mail: sophie.arnius@skf.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/skf/r/skf-divests-non-core-aerospace-operation-for-usd-220-million,c4058168 The following files are available for download: https://mb.cision.com/Main/637/4058168/3081445.pdf 20241029 SKF divests non-core aerospace operation for USD 220 million https://news.cision.com/skf/i/dji-0735-fix,c3346907 DJI 0735 fix https://news.cision.com/skf/i/rickard-gustafson-jpg-highpreview-800,c3347049 Rickard Gustafson jpg highpreview 800
More than 100 million people in the US have this HLA-A haplotype PALO ALTO, Calif., Oct. 30, 2024 /PRNewswire/ -- Leading GMP cell CDMO I Peace, Inc. (https://www.ipeace.com), specializing in induced pluripotent stem cells (iPSCs) and iPSC-derived cell therapies, announced that the company has successfully generated iPS cell lines that are homozygous for HLA A, C, and DPA1. Two clonal lines are available for cell therapy developers and pharmaceutical companies as off-the-shelf products in both GMP and research-grade. I Peace's new iPSC line was generated from a healthy 26-year-old Caucasian male with an A+ blood type. This new line is homozygous for HLA A, C, and DPA1. More than 100 million people (35.91%) in the U.S. have this HLA A haplotype. What it means to cell therapy development When it comes to the transplantation of stem cells and stem cell products, HLA typing is crucial to ensure compatibility between the donor and recipient. Accurate HLA matching increases the likelihood of transplant success and helps minimize immune system rejection of the transplanted stem cells, reducing the risk of potentially life-threatening complications of graft-versus-host disease (GvHD). HLA typing is essential for identifying the most suitable donor and improving patient outcomes in stem cell transplantation. While we believe autologous cell therapy is the ultimate form of iPSC-derived cell therapy, such therapies are still in their infancy, and it is expected to take some more time before they are readily available to people in general. The introduction of HLA homozygous iPSC line is an important development that can help materialize allogenic cell therapy with reduced immune rejection risk to tens of millions of the U.S. population until autologous cell therapies become readily available. It can also make cell therapy available for those with congenital gene disorders. This is a huge step forward to accelerate iPS cell-derived regenerative medicine. I Peace is committed to providing high-quality cell products to its clients by regularly reviewing its processes and traceability procedures and training its staff members to maintain and constantly improve its product quality. I Peace, inc. I Peace, inc. globally develops sales of GMP iPS cells and entrusted manufacturing services of medical grade cells. The company was founded in 2015 by Koji Tanabe, a graduate of Professor Shinya Yamanaka's laboratory at Kyoto University and the second author of the paper that reported the successful establishment of the world's first human iPS cell line. Tanabe has been involved in iPS cell research since the early days of its development and is daily working on innovative technical development to make iPS cells accessible to everyone through I Peace, inc. Our unique technology enables us to produce multiple donor-derived iPS cells in parallel without contamination concerns and to provide a large number of iPS cells at a reasonable price. We support drug discovery and cell medicine development by providing our iPS cell and other cell products as high-quality cell products that meet PMDA and FDA standards to pharmaceutical companies and cell medicine development companies. We are also promoting the production of iPS cells for individuals so that everyone in the world can prepare for the future by possessing his or her own iPS cells. We support pharmaceutical companies and cell medicine development companies so that cell medicine will be within the reach of patients as soon as possible. We aim for the earliest prevalence of regenerative medicine by establishing iPS cell banking services for individuals. I Peace, Inc.Founder & CEO: Koji TanabeEstablished: 2015Headquarters: Palo Alto, California, U.S.A.Subsidiary in Japan: I Peace, Ltd., KyotoiPS cell manufacturing base: Peace Engine Kyoto, KyotoWebsite: https://www.ipeace.com
RIYADH, Saudi Arabia, Oct. 30, 2024 /PRNewswire/ -- The Future Minerals Forum (FMF) is set to host the largest gathering of International Geological Surveys and inaugural Centers of Excellence meetings at the fourth edition in January 2025. FMF is the world's leading gathering on minerals, convened by Saudi Arabia's Ministry of Industry and Mineral Resources as a platform for fostering collaboration amongst stakeholders in the minerals industry. International Geological Surveys Meeting The International Geological Survey and the Center of Excellence meetings are scheduled for January 14th at King Abdulaziz International Conference Center. Both meetings form part of the FMF Ministerial Roundtable, bringing together more than 200 governments and international organizations. The International Geological Survey Meeting, first held at the 2024's edition, brings together geological survey leaders from around the world. Participants include Geological Survey leaders from the Super Region, which extends from Africa to West and Central Asia, as well as the historical geological survey's data reservoirs like the US Geological Survey, the British Geological Survey, BRGM of France, and GTK of Finland. Objectives of the meeting are to; Build capacity in geological surveying across the Super Region to attract more investment in exploration. Use the latest digital technologies and artificial intelligence to locate minerals with greater precision, as well as making geological information available to investors and the wider public. Create a regional center of excellence to drive innovation, skills development, and the deployment of new technologies. "With the depletion of mineral resources, insufficient investment in exploration, and no new major discoveries, there has never been a more important time to put a spotlight on geology and bring experts together to find ways to find new mineral deposits and develop the capabilities," Al-Mudaifer said. He added, "Without accurate identification of mineral locations, precise data on their certainty, and reliable geological information for investors, the world risks falling short of the materials needed to meet its growing demands." The FMF will also convene the inaugural Centers of Excellence meeting, gathering institutes, universities, and leading experts from around the world to support the creation of a regional network of centers of excellence. This initiative aims to build capacity in the Super Region, focusing on technology incubation, acceleration, and large-scale deployment, while ensuring that the region remains at the forefront of global mineral and resource innovation.
STOCKHOLM, Oct. 30, 2024 /PRNewswire/ -- Ericsson (NASDAQ: ERIC) today announces that MajBritt Arfert, the Company's Chief People Officer, will step down at the end of May, 2025. Mrs. Arfert has been with Ericsson for over 38 years and has been a member of its Executive Team the since autumn of 2016. A recruitment process will be initiated to appoint a successor. Börje Ekholm, President and CEO, comments: "MajBritt has been a valued member of the Executive Team for almost eight years and has been instrumental to where we are today as a company. We have come to an agreement that this is a good time for a change, as we are entering the next chapter of Ericsson's strategy. With her dedicated leadership and broad background in Ericsson, MajBritt has successfully led the People function and been an integral part in evolving the Ericsson culture and people strategy. I wish her all the best in her future endeavors, and I am happy she will stay on in the role until the end of May, 2025, which allows for finding and ensuring a smooth handover to a successor." MajBritt Arfert comments: "It has been an incredible journey and a privilege to serve as Ericsson's CPO during and to work with such an extraordinary group of people. I am deeply proud of the work we have done in transforming the Company. Ericsson is well positioned globally to continue building on its industry-leading position and to expand into enterprise. This is the right time for me to move on and to explore new adventures in life. Meanwhile I will continue in full capacity as CPO during this period. I will always follow Ericsson with passion and pride as it keeps transforming society and shaping the industry." NOTES TO EDITORS: FOLLOW US:Subscribe to Ericsson press releases hereSubscribe to Ericsson blog posts herehttps://twitter.com/ericssonhttps://www.facebook.com/ericssonhttps://www.linkedin.com/company/ericsson MORE INFORMATION AT:Ericsson Newsroommedia.relations@ericsson.com (+46 10 719 69 92)investor.relations@ericsson.com (+46 10 719 00 00) ABOUT ERICSSON:Ericsson's high-performing networks provide connectivity for billions of people every day. For nearly 150 years, we've been pioneers in creating technology for communication. We offer mobile communication and connectivity solutions for service providers and enterprises. Together with our customers and partners, we make the digital world of tomorrow a reality. www.ericsson.com This information was brought to you by Cision http://news.cision.com https://news.cision.com/ericsson/r/ericsson-announces-change-to-the-executive-team,c4057989 The following files are available for download: https://mb.cision.com/Main/15448/4057989/3080579.pdf Ericsson announces change to the Executive Team
PetroChina Posted Another Record Operating Results for First Nine Months in 2024 (29 October 2024) – PetroChina Company Limited [“PetroChina” or the “Company”, (SSE: 601857; HKSE: 00857)] announced its operating results for the first three quarters of 2024. The Company deepened its analysis of the macro-environment and proactively responded to market changes. It made coordinated efforts to enhance production, operation, operational quality and profitability, drove reform and innovation, green transition, and safety and environmental protection. While operation of the core oil and gas businesses remained safe, steady and profitable, emerging businesses such as new energies and new materials expanded rapidly. The Company’s operating results for the first three quarters sustained growth momentum and hit another record high. In accordance with IFRS, the Company recorded revenue of RMB 2.26 trillion in the first three quarters of 2024. Net profit attributable to owners of the Company grew by 0.7% year-on-year to RMB 132.52 billion. For the third quarter, net profit attributable to owners of the Company reached RMB 43.91 billion, up by 2.3% quarter-on-quarter. Meanwhile, the Company retained a sound financial position, with its asset-liability structure further optimized. The debt-to-asset ratio dropped by 1.3 percentage points to 39.5% from the beginning of this year, falling to a nearly 14-year low for the same period. Results Review Steady growth in oil and gas output along with rapid expansion of new energies business. The Company remained committed to efficient exploration and development, vigorously promoted oil and gas exploration and development, and boosted oil and gas reserves and output. For overseas business, the Company stepped up efforts in acquiring new projects and successfully signed the production sharing contracts for Suriname shallow-water Blocks 14 and 15. The Company accelerated the integrated development of oil, gas and new energies, pushed for the construction of large-scale new energies bases, and advanced the development of wind, solar, geothermal and hydrogen energy and CCUS operations. In the first three quarters of 2024, the Company’s oil and gas equivalent output grew by 2.0% year-on-year to 1.342 billion barrels; of which the crude oil output increased by 0.3% year-on-year to 708 million barrels and the marketable natural gas output advanced by 4.0% year-on-year to 3.80 trillion cubic feet. Domestic oil and gas equivalent output grew by 2.3% year-on-year to 1.197 billion barrels; of which crude oil output edged up 0.3% year-on-year to 585 million barrels and the marketable natural gas output expanded by 4.4% year-on-year to 3.67 trillion cubic feet. The oil, gas and new energies business achieved an operating profit of RMB 144.26 billion, up by 8.7% year-on-year. Continuous efforts in driving transformation and upgrading of refining and chemical business, with steady progress in key projects development. Adhering to market-oriented approach, the Company continued to drive the transformation and upgrading of refining and chemical business, further optimized the product mix and dynamically adjusted diesel-to-gasoline ratio. It maintained high utilization rates and efficient operation of aromatics and other chemicals facilities, strengthened new product development, and increased production and sales of high-profitability chemical products and new materials. In the first three quarters of 2024, the Company processed a total of 1.036 billion barrels of crude oil. The output of refined products reached 89.909 million tons. The production of chemical commodity products expanded by 9.7% year-on-year to 28.643 million tons. The production of new materials surged by 62.6% year-on-year to 1.618 million tons. The refining, chemicals and new materials business generated an operating profit of RMB 15.28 billion. Proactive market analysis to ensure stable operation of the industrial chain. The Company proactively responded to changes in refined oil market demand, strengthened its logistics coordination and optimized the production and marketing integration. With flexible and precise marketing strategies, the Company maintained stable operation of the entire industrial chain through measures to improve the quality of customer service, vigorously promote refueling gun business, endeavor to expand sales while reducing inventories, enhance its market share, better coordinate the development of domestic and international markets and actively develop overseas high-end markets. The Company also organized non-fuel product marketing campaigns, advanced its private-label product development, and continuously improved the profitability of non-fuel businesses. In the first three quarters of 2024, the Company sold a total of 119.886 million tons of gasoline, kerosene and diesel, with a total of 89.596 million tons of refined oil products sold domestically. The marketing business realized an operating profit of RMB 12.90 billion. Persistent optimization in resource pool structure and enhanced natural gas marketing capacity. The Company continuously optimized its resource pools structure and effectively reduced the overall procurement costs. Through strengthened marketing efforts and marketing strategies, the Company made relentless efforts to promote online sales and cost pass-through pricing mechanisms to expand end-user markets, optimized market layout, customer structure and sales channels so as to increase the sales volume and profitability of natural gas sales business. In the first three quarters of 2024, the Company’s natural gas sales reached 209.82 billion cubic meters, up 8.6% year-on-year; of which domestic natural gas sales reached 162.96 billion cubic meters, up by 4.9% year-on-year. The natural gas sales business recorded an operating profit of RMB 25.27 billion, up by 29.7% year-on-year. Outlook In the fourth quarter of 2024, the Company will continue to leverage the strengths of its integrated industrial chain, make persistent efforts to enhance business quality and profitability, promote reform and innovation, so as to ensure the fulfillment of its annual production and operational targets, striving to create greater value for all shareholders and society. ### Additional information on PetroChina is available at the Company’s website: http://www.petrochina.com.cn Issued by PetroChina Company Limited For further information, please contact: PetroChina Company Limited PR Agency (Overseas media): PRChina Limited Joanne Liu Fax: (852) 2522 9955 Tel: (852) 2522 1838 Email: petrochina@prchina.com.hk PR Agency (Domestic media): EverBloom Investment Consulting Co., Ltd. Di Shen Fax: (8610) 8562 3181 Tel: (8610) 5166 3828 Email: zhongshiyou.list@everbloom.com.cn
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