目前负面影响有限。1.零售方面:国内成品油定价机制 "十个工作日一调"

The limited negative impact. <br>1. Retail: the <br>domestic refined oil pricing mechanism, "a tune of ten working days," the principle that domestic prices of refined oil products in accordance with the trend of international oil prices, adjusted once every ten days, ten days, international oil prices cumulative is rising, domestic oil prices will rise in adjusted once in 10 days, international oil prices are the cumulative decline in domestic oil prices fell adjusted once. Therefore, the international oil prices in the retail price on the market response is lagging behind, and so on down the retail price maintenance, procurement cost has long been the first cut, the short term Sumin oil is good. <br>2. Wholesale sales: <br>import oil products: imports of oil products on the market are reflected in the floating price, so the price down, costs can come down. Oil prices down, oil will Sumin appropriate procurement of oil in a short time according to the actual inventory situation, oil prices will help reduce procurement costs. Due to the current contract with the downstream before the sales contract price is higher than 5% -8% of the current market price (not yet delivery, and other delivery when payment settlement), profit margins when delivery actually have relatively large increase. Therefore, short of imported oil larger profit margins. <br>Domestic oil: Sumin will be based on the current domestic oil procurement costs continue to adjust the sales price, maintaining solid profit margins. <br>In summary, short-term downward effect on oil prices Sumin oil is good. Su Min and long-term oil can be continuously adjusted purchasing and selling prices, profit margins are still guaranteed.

目前负面影响有限。<br>1.零售方面:<br>国内成品油定价机制 "十个工作日一调"原则，即国内成品油的价格根据国际油价价格的走势，每十个工作日调整一次，在十个工作日日，国际油价累计是上涨的，国内油价就上涨调整一次，在十个工作日日，国际油价累计是下跌的，国内油价就下跌调整一次。因此国际油价下跌在市场上零售价格上的反应相对滞后，等统一零售价格下跌了，采购成本也已经早就先下调了，短期内对苏闽石油是利好。<br>2.批发销售方面:<br>进口油品:市场上进口油品体现的都是浮动价，因此价格下调，成本就可以随之下调。油价下调，苏闽石油会根据实际库存情况在短时间内适当采购油品，油品价格下跌有助于降低采购成本。由于目前与下游之前签订的销售合同价格高于现在市场价格的5%-8%（还未交货，等交货时才付款结算），交货时的利润空间反倒有比较大的提升。因此短时间内进口油品的利润空间较大。<br>国内油品：苏闽石油也会根据国内现时采购成本不断调整销售价格，保持可观的利润空间。<br>综上，短期内石油价格下调对苏闽石油的影响是利好。中长期苏闽石油也可以不断调整采购和销售价格，利润空间依然有保障。

At present, the negative impact is limited.<br>1. Retail:<br>The principle of "one adjustment in ten working days" in the domestic refined oil pricing mechanism is that the price of domestic refined oil is adjusted once every ten working days according to the trend of international oil price. In ten working days, the international oil price is rising, the domestic oil price is rising and adjusted once. In ten working days, the international oil price is falling, and the domestic oil price is falling and adjusted once. Therefore, the response of the international oil price decline to the retail price in the market is relatively lagging behind. When the unified retail price falls, the purchase cost has already been lowered, which is good for Sumin oil in the short term.<br>2. Wholesale sales:<br>Imported oil products: all the imported oil products in the market reflect floating prices. Therefore, if the price is lowered, the cost can be lowered accordingly. When the oil price is lowered, Sumin oil will purchase oil products properly in a short period of time according to the actual inventory situation, and the decrease of oil price will help to reduce the purchase cost. Because the price of the sales contract signed with the downstream company is 5% - 8% higher than the current market price (payment and settlement are not made until delivery), the profit margin of delivery has been greatly improved. Therefore, the profit margin of imported oil products is large in a short period of time.<br>Domestic oil products: Sumin oil will adjust its sales price according to the current domestic purchase cost to maintain a considerable profit margin.<br>To sum up, the impact of the short-term oil price reduction on Sumin oil is good. In the medium and long term, the purchase and sales prices of Sumin oil can also be adjusted continuously, and the profit margin is still guaranteed.