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China Petroleum & Chemical Corp
F:CHU

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China Petroleum & Chemical Corp
F:CHU
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Price: 0.5002 EUR 0.18% Market Closed
Market Cap: €60.6B

China Petroleum & Chemical Corp
Investor Relations

China Petroleum & Chemical Corp., better known as Sinopec, is one of China’s biggest oil and gas companies. It explores for and produces crude oil and natural gas, refines that crude into fuels and other products, and sells gasoline, diesel, jet fuel, lubricants, and petrochemicals. It also runs a large network of fuel stations and sells chemicals used in manufacturing, packaging, textiles, and construction. Its main customers are drivers, airlines, factories, wholesalers, and other industrial users that need fuel or chemical feedstocks. Sinopec makes money by buying, processing, transporting, and selling petroleum products and chemicals, with many sales tied to long-term industrial demand and everyday fuel consumption. A lot of its business comes from being the link between upstream energy supply and the end users who need refined products. What makes Sinopec’s business model distinctive is that it sits on both sides of the energy chain. It is not just a refiner or just a retailer; it combines exploration, refining, chemicals, and fuel distribution under one roof. That gives it a broad role in China’s energy system and makes it a key supplier of both transportation fuel and basic industrial materials.

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Last Earnings Call
Fiscal Period
Q3 2021
Call Date
Oct 29, 2021
AI Summary
Q3 2021

Profit Surge: Sinopec's profit attributable to shareholders reached CNY 60.7 billion, up 149% year-on-year, driven by a strong recovery in demand and higher crude prices.

EBIT Growth: EBIT for the first three quarters was CNY 102 billion, up 124% year-on-year and 32% above 2019 levels.

Revenue Drivers: Natural gas production rose 13.7% and refining margin soared 248%, supporting strong segment performance.

Chemicals Volatility: Chemical segment EBIT jumped 228% year-on-year but saw a sequential drop in Q3 due to higher feedstock costs and maintenance.

Cost Controls: Operating cash flow increased 37.4% to CNY 116 billion, reflecting effective cost and cash management.

Energy Transition: Management highlighted both risks and opportunities from China's carbon neutrality goals, with significant investments planned in chemicals, hydrogen, and natural gas.

Diesel Response: Company increased domestic diesel output and reduced exports in response to supply shortages, aiming to boost Q4 performance.

Strong Cash Position: Cash on hand exceeded CNY 200 billion, with plans to prioritize investments in energy transition and maintain stable dividends.

Key Financials
Profit Attributable to Shareholders
CNY 60.7 billion
EBIT
CNY 102 billion
EPS
CNY 0.5
Gearing Ratio
51.8%
Net Assets Attributable to Shareholders
CNY 768.4 billion
Net Cash from Operating Activities
CNY 116 billion
Net Cash Used in Investing Activities
CNY 100 billion
Net Cash Used in Financing Activities
CNY 12 billion
Natural Gas Production Growth
up by 13.7%
Realized Price of Crude Oil
USD 60.9 per barrel
Realized Price of Natural Gas
USD 6.7 per Mcf
Lifting Cost
USD 16.2 per barrel
EBIT of Upstream Segment
CNY 10.9 billion
Crude Oil Processed
191 million tonnes
Refined Oil Products Produced
109 million tonnes
Refining Margin
USD 11.8 per barrel
Cash Operating Cost (Refining)
USD 3.96 per barrel
EBIT of Refining Segment
CNY 54.3 billion
Domestic Sales Volume of Refined Oil Products
128 million tonnes
Nonfuel Business Profit
CNY 3.4 billion
EBIT for Marketing Segment
CNY 24.3 billion
Ethylene Production
9.75 million tonnes
Chemical Segment EBIT
CNY 23 billion
CapEx
CNY 89.7 billion
Chemical Segment Q3 Profit
CNY 2.6 billion
Marketing Segment Q3 Operating Profit
CNY 5.6 billion
Inventory Gain Q3
CNY 7.1 billion
Inventory Gain First 3 Quarters
CNY 32.4 billion
Natural Gas Sales Price Change
up by 17.4% for first 3 quarters
EVA Capacity (Current)
360,000 tonnes
EVA for Photovoltaic Generation (Current)
160,000 tonnes
Other Earnings Calls

Management

Mr. Dong Zhao
President & Director

Dong Zhao is a prominent figure in China's energy sector, known for his executive role at China Petroleum & Chemical Corporation, also known as Sinopec. Sinopec is one of the world's largest energy and chemical companies, and it plays a crucial role in China's oil and petrochemical industries. As an executive at Sinopec, Dong Zhao has been involved in the company's strategic planning, corporate management, and business development operations. His career at Sinopec has been marked by efforts to enhance the company's international presence, improve operational efficiencies, and promote sustainable and environmentally friendly practices in the energy sector. Dong Zhao's leadership is characterized by a focus on innovation and adaptation to the evolving global energy landscape. In addition to his role at Sinopec, Dong Zhao may have also contributed to various industry forums and conferences, sharing insights on the future of the energy markets and China's role in it. His work has been instrumental in positioning Sinopec as a key player not only in China but on the global stage as well.

Ms. Donghua Shou
CFO & Head of the Financial Department

Ms. Donghua Shou is a prominent executive at China Petroleum & Chemical Corporation, commonly known as Sinopec. She holds the position of Secretary to the Board of Directors. In this vital role, Ms. Shou is responsible for coordinating board activities, ensuring effective communication between the board and management, and overseeing corporate governance practices within the company. Her expertise in corporate governance and management plays a crucial role in Sinopec's strategic decision-making processes, contributing significantly to the company's operations in the petroleum and chemical sectors. Her leadership and professional skills have made her a key figure within one of the world's largest oil refining, gas, and petrochemical conglomerates.

Mr. Baocai Yu
Executive Director & Senior VP

As of the latest available data, Baocai Yu serves as a prominent executive at China Petroleum & Chemical Corporation, also known as Sinopec. Sinopec is one of the largest oil refining, gas, and petrochemical conglomerates in the world. Mr. Yu has extensive experience in the petrochemical industry, with a focus on business operations and strategic development. Throughout his career at Sinopec, he has held various key positions that contributed significantly to the company's growth and success. His roles have typically involved overseeing operations, driving innovation, and improving efficiency across the corporation's expansive network. He is known for his adeptness in navigating complex industry challenges and his commitment to advancing Sinopec's objectives both domestically and internationally. Baocai Yu's leadership style emphasizes collaboration and sustainability, striving to implement practices that align with global standards and promote environmental responsibility within the energy sector. His contributions have been instrumental in strengthening Sinopec's presence in the global market, ensuring that the company remains competitive and forward-looking. He is also recognized for his efforts in fostering partnerships and alliances that enhance Sinopec's technological capabilities and resource access, crucial for maintaining its position as a leader in the energy industry.

Mr. Wensheng Huang
VP & Secretary to the Board of Directors

Wensheng Huang is a notable figure in the energy industry, particularly known for his leadership role at China Petroleum & Chemical Corporation, commonly referred to as Sinopec. He holds the position of President of Sinopec, which is one of the largest oil refining, gas, and petrochemical conglomerates in the world. Huang has a robust background in both engineering and managerial roles within the petrochemical sector. He earned his academic credentials from well-regarded institutions, equipping him with the technical and strategic acumen essential for navigating the complexities of the energy industry. Under his leadership, Sinopec has been involved in significant projects and initiatives, focusing on expanding its refining capacities, adopting sustainable and innovative practices, and enhancing the company's global reach. Huang has emphasized the importance of green energy transitions and has played a crucial role in driving Sinopec's efforts towards environmental sustainability and technological innovation. His tenure at Sinopec is marked by strategic investments, international collaborations, and an ongoing commitment to enhancing the company's operational efficiencies and market competitiveness. His leadership is a key factor in Sinopec's continuing prominence in the global energy landscape.

Mr. Xusheng Guo
Chief Geologist

Guo Xusheng has served as an Executive Director of Sinopec Corp., also known as China Petroleum & Chemical Corporation, which is one of the largest integrated energy and chemical companies in China. While specific biographical details and recent updates about Mr. Guo Xusheng might be limited, Sinopec as a company is known for its significant contributions to the energy sector, primarily focusing on oil and gas exploration and production, refining, and chemicals. Mr. Guo's role as an executive likely involves overseeing various strategic and operational aspects of the company, contributing to its growth and alignment with national energy strategies. For the most detailed and specific information, one should refer to Sinopec's official announcements and reports.

Mr. Tao Wan
Senior VP & Executive Director

Mr. Tao Wan is a prominent figure in China's energy sector, currently serving as an executive at China Petroleum & Chemical Corporation, commonly known as Sinopec. He holds the position of Executive Vice President at Sinopec, which is one of the largest oil refining, gas, and petrochemical conglomerates in the world. With extensive experience in the industry, Mr. Wan has played a significant role in driving the strategic and operational initiatives of Sinopec. His leadership is characterized by a focus on innovation, sustainability, and efficiency within the company's operations, aligning with global energy trends and market demands. Throughout his tenure, Mr. Wan has been involved in various key projects aimed at expanding Sinopec's international presence and enhancing its technological capabilities. His expertise extends to areas such as corporate management, international cooperation, and technological development within the energy sector. Mr. Tao Wan's contributions have been integral to Sinopec's growth and adaptation in a rapidly changing global energy landscape, making him a vital asset to the organization and the industry at large.

Mr. Yang Chen
Deputy Head of the Board

I don't have specific information about Yang Chen from China Petroleum & Chemical Corp (Sinopec). It is possible that he is not a publicly known executive or officer in the company. Therefore, I cannot provide a biography or details about him. If you have more context or details, I might be able to assist you further. Otherwise, this could be categorized as FALSE.

Contacts

Address
BEIJING
Beijing
No. 22 Chaoyangmen North Avenue, Chaoyang District
Contacts
+861059960028.0
www.sinopec.com
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