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MARKETS / SNPMF
PETROLEUM REFINING · LARGE CAP

China Petroleum & Chemical Corp. SNPMF

8 fiscal years on record · CNY · FY2022 reported · SEC filings only
CNY 3.3T
▲ 21.1% YoY
CNY 66.2B
▼ 8.1% YoY
In brief

What this company does

China Petroleum & Chemical Corporation explores for, develops and produces crude oil and natural gas, refines crude oil and markets and distributes refined oil products, and produces and sells petrochemical products. It operates 251 oil and gas producing fields and blocks. As of December 31, 2022, it held 351 production licenses in China, covering an aggregate acreage of 38,937 square kilometers. Its refinery throughputs were approximately 242.27 million tonnes in 2022. It runs 29 refineries in China, whose comprehensive processing capacity of oil refining was 287.25 million tonnes per annum as of December 31, 2022. Its retail sales are made through a network of service stations and petroleum shops operated under the Sinopec brand. In chemicals, it produces and distributes intermediate petrochemicals, synthetic resins, synthetic fiber monomer and polymers, synthetic fibers and synthetic rubber. It was established as a joint stock limited company on February 25, 2000 under the Company Law of the PRC, with Sinopec Group Company as the sole shareholder at its inception.

Written from the business description in CHINA PETROLEUM & CHEMICAL CORP's annual report to the U.S. Securities and Exchange Commission, filed 28 April 2023. Every sentence was checked against that document before publication.

Growth
CNY 3.32T
Revenue, FY2022 · full 8-year series below
Revenue CNY T Net income CNY T
FY2022 · Revenue 3.3 · Net income 0.1
2T20152016201720182019202020212022
Compound annual growth
+3.9%
+7.1%
+4.8%
+5.2%
+5.0%
+5.5%
+9.9%
+13.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +7.1% a year over five years — but profit grew slower: net income at +5.2%, earnings per share at +5.5%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
2 cents
of every revenue dollar became profit
Operating margin Net margin
FY2022 · Operating 2.3% · Net 2.3%
1%2%3%20152016201720182019202020212022
ROE
FY2022 · ROE 8.5%
5%20152016201720182019202020212022

Each CNY of equity produced 8 cents of profit this year.

Cash & shareholders
CNY 61.1B
returned in FY2022 · dividends + net buybacks
Net buybacks CNY B Dividends CNY B
FY2022 · Dividends 56.9 · Net buybacks 4.2
25.0B50.0BDividendsNet buybacks20152016201720182019202020212022

CNY 56.9B in dividends and CNY 4.2B in buybacks — 92% of the year's profit went back to shareholders.

Total assetsCNY 1.95T
EquityCNY 784.7B
CashCNY 93.4B
Current ratio0.78×

Equity funds 40% of total assets.

The 8-year record
8 fiscal years
Every figure from documents filed with the SEC · CNY
row low → row highnegative
Metric 20222021202020192018201720162015
Revenue CNY B3318.22740.92104.72957.92882.12360.21930.92020.4
Operating income CNY B75.894.613.786.582.671.577.256.8
EBITDA CNY B185.7210.3121.1196.2192.9186.8185.6153.3
Income tax CNY B18.823.36.318.120.316.320.712.6
Net income CNY B66.272.033.457.561.751.246.732.5
EPS, diluted CNY 0.550.590.280.480.510.420.390.27
Dividend / sh CNY ········
Payout %86499480110643674
ROE %8.59.54.57.98.67.16.6·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 31 reconciliationsAUDITED

Reconciled in 8 of 19 fiscal years. 45 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityPetroleum Refining
Listed onnot stated in the filings
Incorporated innot stated in the filings
Fiscal year endsDecember 31
Data on record since2015

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