Posted by brightsmart > 2022-12-21 10:11 | Report Abuse

the whole episode is just because u use the so call crack spread without understanding how the crack spread relates to the company, how timing differennces are reflected in the accounts, how they do accounting entries for hedging and forward transactions.

Profit estimations are deceptively simple using those crack spread data but what actually gets reflected in the accounts is very complicated. ...and what happened is that your profit forecasts are way way off the mark.

Posted by BobAxelrod > 2022-12-21 10:38 |

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Posted by Sslee > 2022-12-21 10:49 | Report Abuse

The crack spread is based on price of Brent crude average q3 of USD 101/barrel.

How not to loss money when HRC crude purchase in Q3 USD 136.453/barrel even higher then Q2 of USD 126.71/barrel when average Dated Brent dropped to USD 101/barrel in Q3 from the USD 114/barrel in Q2?

Posted by i3lurker > 2022-12-21 10:56 | Report Abuse

accounting entries are always Debit Credit.
Basic things done by junior clerks since they studied in lower secondary school Form 3
Only fake accountants find such easy things complicated.
I recommend Frank Wood for fake accountants.

Posted by BobAxelrod > 2022-12-21 10:56 |

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Posted by BobAxelrod > 2022-12-21 10:56 |

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Posted by BobAxelrod > 2022-12-21 10:57 | Report Abuse

Marty Byrde simply loves this super washing machine.....

Posted by i3lurker > 2022-12-21 11:02 | Report Abuse

Ukraine war started Feb 24, 2022
many "panic bought" 1 year or more years of crude at above USD136

many felt that crashing car from bridge 100m down to river is way better than head on collision with train.
btw both also die.

Posted by i3lurker > 2022-12-21 11:05 |

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Posted by Sslee > 2022-12-21 11:06 | Report Abuse

qqq3 the exact answer to my question during 2018 AGM.
0ur purchased lot size can range between 300,000 to 1 million barrels. We typically store between 2 - 3 million barrels of crude. Book inventories will also include sailing stocks for which titles have passed to HRC. Part of our operation planning include having sufficient inventory of each crude slate for more than a week's production.

Posted by BobAxelrod > 2022-12-21 11:11 |

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Posted by BobAxelrod > 2022-12-21 11:13 |

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Posted by brightsmart > 2022-12-21 11:15 | Report Abuse

Timing differences is more than just stocking....it is how physical stocks are ordered delivered and used as opposed to oil price charts.

Posted by UlarSawa > 2022-12-21 11:15 | Report Abuse

So next QR apa macam. Talk so much. Mau join the competition or not. Haiyoh. Boleh?

Posted by UlarSawa > 2022-12-21 11:17 | Report Abuse

All also teka teki only kah. Ada insider news or not. If takda tak mau cakap so much lah. Haiyoh. Correct?

Posted by brightsmart > 2022-12-21 11:18 | Report Abuse

Unrealised lossed at q2 can also be turn into purchases account in Q3, as these can be forward transactions ....u don't see any derivative losses but the losses are in the purchases account

Posted by brightsmart > 2022-12-21 11:19 | Report Abuse

This is what I mean by u have to understand the accounting entries ..not what the licker says

Posted by UlarSawa > 2022-12-21 11:21 | Report Abuse

Ah gong cakap dia korek. Ah Po cakap dia korek. Siapa yang korek pun no one can tell also lah. Argue sampai cow come home home also dunno Ah Gong or Ah Po is korek. Haiyoh. Correct?

Posted by brightsmart > 2022-12-21 11:21 |

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Posted by brightsmart > 2022-12-21 11:23 |

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Posted by brightsmart > 2022-12-21 11:25 | Report Abuse

If u don't know what u don't know....how to be accurate?

Posted by i3lurker > 2022-12-21 11:31 | Report Abuse

Hedging gap can be tremendous,
most times hedging does not work in times of extreme volatility during wars or rumours of wars.

execute PO at USD136. [feb 2022]
by the time the hedging was done at USD92 you already lost USD44 per barrel

=> so what did you actually hedge?

Posted by brightsmart > 2022-12-21 11:31 | Report Abuse

This sslee know the engineering aspects of an oil refinery....but what affects the quarterly profits? It's far more complicated far more variables than probability crack spreads

Posted by brightsmart > 2022-12-21 11:37 |

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Posted by UlarSawa > 2022-12-21 11:38 | Report Abuse

Geely Automobile could give the market a pleasant surprise in December as its sales rebound thanks to China's reopening and favorable seasonality ahead of the Lunar New Year, Citi analysts say. They point out that Geely has managed to deliver same-store sales growth even in the September-to-November period, when strict Covid curbs led to sales drops for many other auto brands in China. This is a sign of strong consumer demand for Geely products, which could underpin a fast sales recovery in December after China relaxed most of its Covid restrictions, Citi says. The bank now expects Geely's December retail sales to jump more than 60% on month versus the 30% rise estimated earlier. (yifan.wang@wsj.com)

Posted by UlarSawa > 2022-12-21 11:39 | Report Abuse

Nio(NYSE:NIO) stock is in the news Tuesday as investors react to the company’s response concerning a recent data leak.

According to the press release, Nio was made aware of data sold illegally on the internet by third parties. That includes user information, as well as Chinese electric vehicle(EV) sales prior to August 2021.

To alleviate concerns about the data leak, the company has set up a hotline and email to answer customers’ questions. It has also agreed to take on losses that customers may suffer as a result of the data leak.

Nio’s Data Leak Statement

The company had the following to say about the data leak in its news release:

“NIO deeply regrets this incident happened, and is doing everything possible to support its users. NIO continues to work with governmental authorities to investigate the incident and implement necessary measures to contain potential damages. NIO reaffirms its commitment to protecting data security and privacy of its users.”
Investors in NIO stock don’t seem overly worried about the EV company’s data leak. Shares of NIO stock are still seeing decent trading today, even if it’s below the daily average volume. Shares are also up 0.27% on Tuesday.

Posted by brightsmart > 2022-12-21 11:39 | Report Abuse

Did management promise u sky high Q3 profits or not? Did management ask u to buy or not?

Posted by brightsmart > 2022-12-21 11:41 | Report Abuse

And don't keep using racists terms such as Chinaman....our unity government also don't like that. I also don't like that.

Posted by BobAxelrod > 2022-12-21 11:41 |

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Posted by UlarSawa > 2022-12-21 11:42 | Report Abuse

Auto exports from China have surged this year as domestic automakers look toestablish themselvesbeyond their home market.

Through September, a total of 2.2 million passenger cars, trucks, buses and other vehicles were exported from China. That’s up 54% from the same period last year and already more than double the average from 2012 through 2020.

Posted by brightsmart > 2022-12-21 11:42 | Report Abuse

How come no one says Filipino man for petron losses?

Posted by UlarSawa > 2022-12-21 11:42 | Report Abuse

Electric vehiclesare the biggest contributor to the surge, with 342,000 passenger EVs exported in the first three quarters of the year. That’s 29% of all vehicle exports in this segment and a big increase from 2019, when EVs accounted for just 2% of exports. Another 314,000 low-speed EVs and 4,000 electric buses also were exported.

There are several factors driving China’s EV export growth. Itsdominance of EV battery and materials supplies has allowed domestic auto markets to ramp up production. Western automakers are using the country’s lower production costs and established supply chain to churn out EVs for customers around the globe as interest in the technology takes off.

More fromBloombergHyperdriveFord, China’s CATL Mull Workaround for New US Battery Plant With US-Chinese Tensions HighFusion Skepticism Follows a Century of Genius, Fraud and HypeSustainable Debt, ESG Markets Turn Frosty in 2022Macron Implores Europe to Match Biden’s Green Subsidy Package

Tesla emerged as a major exporter from its factory in Shanghai starting last year. It’s shipped almost 165,000 vehicles from the plant to international markets in the first nine months of this year. Other global automakers includingRenaultandBMWalso are exporting Chinese-made EVs, andVolkswagenwill start doing so next year.

Posted by UlarSawa > 2022-12-21 11:43 | Report Abuse

Chinese domestic brands make up the balance. SAIC saw its EV exports jump to 78,000 vehicles in the first three quarters, mostly with the MG brand that it acquired in 2007. Rival BYD exported 22,000 vehicles and plans to do a lot more volume in 2023as it continues to enter new markets. Companies including Xpeng, Nio and Great Wall also have announced big expansion plans.

That’s all starting to show up in the EV sales figures in other countries. Of the 1.8 million EVs sold in Europe in the first three quarters of this year, 11% came from Chinese automakers, up from 2% in 2020.

Posted by UlarSawa > 2022-12-21 11:45 | Report Abuse

It’s worth reflecting for a bit on how we got here. For much of the last decade, there’s been heated discussion about whether Chinese automakers could establish themselves on the global stage. That talk felt somewhat abstract when Chinese automakers weren’t even dominating their home market. In 2015, 66% of all vehicle sales in China were from joint ventures between international and domestic brands. Entering Germany or the US seemed like quite a leap.

EVs are changing all that. While many Western brands dragged their feet and spent years fighting against tighter fuel economy regulations, China was building up its EV industry through government fleet purchasing requirements, subsidies, supply-side incentives and extensive investments in charging infrastructure.Almost 60%of global EV sales are now in China; its share of the battery supply chain is even higher.

Much of China’s EV exports so far are at the higher end of the market, but that could change. Established Western automakers are increasingly trying to move upmarket to sell more premium vehicles. Some aregetting out of car segmentsaltogether to focus on higher-margin SUVs and trucks.

This move upmarket may make sense from a profit margin perspective, but it’s opening up a sizeable gap at the lower end that Chinese automakers may try to fill.

China’s price advantage here is real. BNEF’s recently publishedLithium-Ion Battery Price Surveyshows battery pack prices were 33% higher in Europe than in China and 24% higher in the US. The average price of a battery-electric vehicle in China in 2021 was $26,500, which is less than two-thirds of the average EV transaction price in Europe and less than half of those in the US.

The steady refrain from legacy automakers over the last decade has been that, as soon as there was real demand for EVs, they wouldquickly ramp upand own the market. That’s not how it played out in the world’s largest auto market. Plug-in vehicles now account for almost 30% of sales in China. Excluding Tesla, international automakers have a tiny sliver of those sales and are increasingly gettingsqueezed out.

What on Earth?The Bloomberg Green newsletter is your guide to the latest in climate news, zero-emission tech and green finance.Sign up to this newsletter

Established automakers now generally talk aboutcompeting to be No. 2in EVs after Tesla, or surpassing themlater this decade. Even that shows there’s a giant, BYD-shaped blind spot in their field of view. BYD is on pace to sell almost 2 millionplug-in vehicles this year and is targeting more than 3 million in 2023. That's far ahead of where leading legacy automaker VW is likely to land for the year.

None of this means the road ahead will be easy for Chinese brands internationally. Gainingconsumer trust, brand recognition and market sharetakes time, and making good-quality cars is still difficult. Still, study after study finds that consumers who drive EVsreally like them, and markets have a way of getting people what they want. The latest export data suggests they’re already doing just that.

Posted by UlarSawa > 2022-12-21 11:49 | Report Abuse

Less common lah. Cinaman more common lah. Haiyoh. Correct?


brightsmart

How come no one says Filipino man for petron losses?

6 minutes ago

Posted by i3lurker > 2022-12-21 11:50 | Report Abuse

as usual banned qqq3 now using brightsmart always gives fake news
experts say hedging gaps cannot be predicted so => QRs cannot be predicted

whereas qqq3 aka brightsmart now claims QR can be predicted

banned qqq3 now using brightsmart now claims QRs can be predicted.
banned qqq3 now using brightsmart always takes the most FAKE position.

thats the reason why admin banned "banned qqq3 now using brightsmart" for 100% FAKE NEWS 100% of time

Posted by i3lurker > 2022-12-21 11:50 | Report Abuse

banned qqq3 now using brightsmart" for 100% FAKE NEWS 100% of time

Posted by i3lurker > 2022-12-21 11:53 | Report Abuse

as usual fake Dragon aka Ular is spamming HRC forum to protect banned qqq3 now using brightsmart

Posted by UlarSawa > 2022-12-21 11:54 | Report Abuse

JD.com, Inc. (NASDAQ:JD) delivered strong Q3 2022 results, while the macro environment in China continued to be pressured by zero-COVID policies. Now, after the Chinese government has taken the first steps towards a gradual "reopening," I am super bullish on JD's 2023 outlook. And on the backdrop of EPS upgrades, I raise my target price for JD stock to $92.89/share, as compared to $86.88 prior.

Notably, despite the negativity surrounding Chinese companies in 2022, JD stock is on track to close the year outperforming the S&P 500 (SP500) - currently being down 15% versus a loss of almost 20% for the S&P 500.

Posted by BobAxelrod > 2022-12-21 11:54 |

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Posted by UlarSawa > 2022-12-21 11:55 | Report Abuse

Haiyoh Suiyee Auditor pun very bad mouth also mah. Always cakap ini company that company mau banklap leh. You pun need to kena banned by I3 lah. Haiyoh. Correct?



i3lurker

as usual fake Dragon aka Ular is spamming HRC forum to protect banned qqq3 now using brightsmart

1 minute ago

Posted by brightsmart > 2022-12-21 11:55 | Report Abuse

Hy version 1.0 and version 2.0 sometime in the future there will be a version 3.0

Posted by BobAxelrod > 2022-12-21 11:55 |

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Posted by UlarSawa > 2022-12-21 11:57 | Report Abuse

We’re going through the biggest transformation of any OEM. Perhaps even the biggest transformation of any company in any industry.”

It would be fair to say that Peter Zillig, Ford of Europe’s marketing boss, isn’t trying to play down the challenges facing Ford in Europe, nor the scale of the transformation it is trying to make in response. That transformation has it going all-in on electric cars, and Ford has restructured the entire company as a result.


At the start of the year, Ford split its company into three distinct divisions: Model E, Blue and Pro. The first would develop EVs, the second ICE cars and the third commercial vehicles. The names are part of internal structure rather than anything customer-facing, so a customer would simply buy a Ford, whichever division it came from.

In Europe, Ford has long struggled for profitability. It’s well known and often repeated that it makes money only on commercial vehicles and SUVs, and its traditional models barely register on the bottom line. It has used electric cars as a chance to make a decisive shift, taking bold and perhaps unpopular decisions in dropping so many popular (but ultimately not profitable) models like the Fiesta and Focus.

Posted by BobAxelrod > 2022-12-21 11:58 |

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Posted by brightsmart > 2022-12-21 11:58 |

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Posted by UlarSawa > 2022-12-21 12:03 |

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Posted by BobAxelrod > 2022-12-21 12:06 |

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Posted by UlarSawa > 2022-12-21 12:06 | Report Abuse

Ular pun EV supporter leh. Baru ada tikam EV battery ctr leh. Haiyoh. Correct?

Posted by BobAxelrod > 2022-12-21 12:07 | Report Abuse

Good to know Hengyuan is in EV and EV batteries too....