Sinopec Corp. announces 2017 Annual Results

Sinopec Vice Chairman and President Dai Houliang (M), CFO Wang Dehua (R1), and Vice President and Board Secretary Huang Wensheng (L1) attended the press conference.

China Petroleum & Chemical Corporation (“Sinopec Corp.” or the “Company”) announced its annual results for the twelve months ended 31 December 2017 in Hong Kong on March 26 2018.

Mr. Dai Houliang, Vice Chairman & President of Sinopec Corp. said, “In 2017, the Company actively addressed market changes through a focus on the improvement of assets quality and profitability, as well as operation upgrades. We pressed ahead with measures for specialised business development, market-oriented operation and overall coordination. With a focused supply-side structural reform, we coordinated all aspects of our work and delivered solid operating results."

In accordance with IFRS, the Company’s turnover and other operating revenues reached RMB 2.36 trillion in 2017, up 22.2% from the previous year. Profit attributable to equity shareholders of the Company was RMB 51.24 billion, up 9.8% year-on-year. Basic earnings per share were RMB 0.423.