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SINOPEC CORP (00386.HK) 1Q Net Profit RMB17.739 billion, Up 26.9% YoY
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SINOPEC CORP (00386.HK) announced its first-quarter results. Revenue amounted to RMB706.695 billion, down 3.9% YoY. Net profit attributable to shareholders reached RMB17.739 billion, up 26.9% YoY, with EPS of RMB0.147. Under PRC accounting standards, net profit attributable to shareholders was RMB17.006 billion, up 28.2% YoY, with EPS of RMB0.141. Total profit amounted to RMB24.206 billion, up 32.6% YoY, mainly driven by inventory gains from rising crude oil prices and improved refining by-product margins. In the first quarter, the Groups oil and gas production reached 131 million barrels of oil equivalent, up 0.4%. Among which, crude oil production was 69.8 million barrels and natural gas production was 370 billion cubic feet. The exploration and production segment recorded EBIT of RMB13.047 billion. During the same period, the Group processed 62.02 million tonnes of crude oil and produced 38.06 million tonnes of refined oil products, up 2.3%, while the refining segment recorded EBIT of RMB18.936 billion. (de/d) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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