By Order of the Board
| |
China Petroleum & Chemical Corporation
| |
Huang Wensheng
| |
Vice President and Secretary to the Board of Directors
|
# |
Executive Director
|
* |
Non-executive Director
|
+ |
Independent Non-executive Director
|
1 |
Important notice
|
1.1 |
The Board of Directors, the Board of Supervisors of China Petroleum & Chemical Corporation ('Sinopec Corp.' or 'the Company') and its directors, supervisors and senior management warrant that there are no false representations, misleading statements or material omissions contained in this report and severally and jointly accept full responsibility for the authenticity, accuracy and completeness of the information contained in this report.
|
1.2 |
The first quarterly report for 2021 was approved at the 22th meeting of the Seventh Session of the Board of Directors of Sinopec Corp. All directors attended this meeting.
|
1.3 |
Mr. Zhang Yuzhuo, Chairman, Mr. Ma Yongsheng, President, Ms. Shou Donghua, Chief Financial Officer and Head of the Financial Department of Sinopec Corp. warrant the authenticity, accuracy and completeness of the financial statements contained in this quarterly report.
|
1.4 |
The financial statements in this quarterly report were not audited.
|
2 |
Basic information of Sinopec Corp.
|
2.1 |
Principal financial data and indicators
|
2.1.1 |
Principal financial data and indicators prepared in accordance with China Accounting Standards for Business Enterprises (CASs)
|
Items
|
As of 31 March 2021
|
As of 31December 2020
|
Changes from the end of the preceding year to the end of the reporting period (%)
| |||||||||
Total assets
|
1,802,144
|
1,733,805
|
3.9
| |||||||||
Total equity attributable to equity shareholders of the Company
|
764,675
|
742,463
|
3.0
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020 (adjusted)
|
Three-month period ended 31 March 2020 (before adjustment)
|
Changes over the same period of preceding year(%)
| |||||||||||||
Net cash flow from operating activities
|
(15,578
|
)
|
(67,970
|
)
|
(68,125
|
)
|
-
| |||||||||
Operating income
|
576,982
|
554,482
|
555,502
|
4.1
| ||||||||||||
Net profit/ (loss) attributable to equity shareholders of the Company
|
17,929
|
(19,866
|
)
|
(19,782
|
)
|
-
| ||||||||||
Net profit/ (loss) attributable to equity shareholders of the Company excluding extraordinary gains and losses
|
17,674
|
(20,440
|
)
|
(20,444
|
)
|
-
| ||||||||||
Weighted average return on net assets(%)
|
2.38
|
(2.73
|
)
|
(2.73
|
)
|
5.11 percentage points
| ||||||||||
Basic earnings per share(RMB)
|
0.148
|
(0.164
|
)
|
(0.163
|
)
|
-
| ||||||||||
Diluted earnings per share(RMB)
|
0.148
|
(0.164
|
)
|
(0.163
|
)
|
-
|
Extraordinary items
|
During the reporting period
(income)/expenses (RMB
million)
| |||
Net gain on disposal of non-current assets
|
(164
|
)
| ||
Donations
|
2
| |||
Government grants
|
(636
|
)
| ||
Gains on holding and disposal of various investments
|
(108
|
)
| ||
Other extraordinary income and expenses, net
|
458
| |||
Subtotal
|
(448
|
)
| ||
Tax effect
|
134
| |||
Total
|
(314
|
)
| ||
Attributable to:
| ||||
Equity shareholders of the Company
|
(255
|
)
| ||
Minority interests
|
(59
|
)
|
2.1.2 |
Principal financial data and indicators prepared in accordance with International Financial Reporting Standards (IFRS)
|
Items
|
As of 31 March 2021
|
As of 31December 2020
|
Changes from the end of the preceding year to the end of the reporting period (%)
| |||||||||
Total assets
|
1,802,144
|
1,733,805
|
3.9
| |||||||||
Total equity attributable to shareholders of the Company
|
763,717
|
741,494
|
3.0
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020 (adjusted)
|
Three-month period ended 31 March 2020 (before adjustment)
|
Changes over the same period of the preceding year(%)
| |||||||||||||
Net cash generated from operating activities
|
(15,578
|
)
|
(67,970
|
)
|
(68,125
|
)
|
-
| |||||||||
Operating profit/(loss)
|
28,701
|
(26,433
|
)
|
(26,305
|
)
|
-
| ||||||||||
Net profit/ (loss) attributable to shareholders of the Company
|
18,543
|
(19,229
|
)
|
(19,145
|
)
|
-
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020 (adjusted)
|
Three-month period ended 31 March 2020 (before adjustment)
|
Changes over the same period of the preceding year(%)
| |||||||||||||
Basic earnings per share (RMB)
|
0.153
|
(0.159
|
)
|
(0.158
|
)
|
-
| ||||||||||
Diluted earnings per share (RMB)
|
0.153
|
(0.159
|
)
|
(0.158
|
)
|
-
| ||||||||||
Return on net assets (%)
|
2.43
|
(2.70
|
)
|
(2.69
|
)
|
5.13 percentage points
|
2.2 |
Total number of shareholders and top ten shareholders at the end of the reporting period
|
Total number of shareholders at the end of the reporting period
|
Total number of shareholders was 517,008, including 511,331 holders of domestic A shares and 5,677 holders of overseas H
shares.
| ||||||||||||
Top ten shareholders
| |||||||||||||
Name of shareholder
|
Total number of shares held
|
Percentage(%)
|
Number of shares subject to pledge orlock-ups
|
Nature of shareholder
| |||||||||
China Petrochemical Corporation
|
82,709,227,393
|
68.31
|
0
|
State-owned share
| |||||||||
HKSCC (Nominees) Limited
|
25,385,219,245
|
20.97
|
Unknown
|
H share
| |||||||||
中国证券金融股份有限公司
|
2,325,374,407
|
1.92
|
0
|
A share
| |||||||||
香港中央结算有限公司
|
1,049,467,290
|
0.87
|
0
|
A share
| |||||||||
中国人寿保险股份有限公司-传统
-普通保险产品-005L-CT001 沪
|
813,500,331
|
0.67
|
0
|
A share
| |||||||||
中国人寿保险股份有限公司-分红
-个人分红-005L-FH002 沪
|
632,058,605
|
0.52
|
0
|
A share
| |||||||||
中央汇金资产管理有限责任公司
|
322,037,900
|
0.27
|
0
|
A share
| |||||||||
全国社保基金一一三组合
|
107,980,897
|
0.09
|
0
|
A share
| |||||||||
阿布达比投资局
|
101,128,826
|
0.08
|
0
|
A share
| |||||||||
基本养老保险基金八零二组合
|
81,496,100
|
0.07
|
0
|
A share
|
2.3 |
Review of operating results
|
Three-month period ended 31 March
|
Changes
| ||||||||||||
Exploration and Production
|
Unit
|
2021
|
2020
|
(%)
| |||||||||
Oil and gas production
|
million boe
|
117.03
|
112.28
|
4.2
| |||||||||
Crude oil production
|
million barrels
|
68.41
|
70.65
|
(3.2
|
)
| ||||||||
China
|
million barrels
|
61.23
|
62.11
|
(1.4
|
)
| ||||||||
Overseas
|
million barrels
|
7.18
|
8.54
|
(15.9
|
)
| ||||||||
Natural gas production
|
billion cubic feet
|
291.60
|
249.68
|
16.8
|
Three-month period ended 31 March
|
Changes
| ||||||||||||
Exploration and Production
|
Unit
|
2021
|
2020
|
(%)
| |||||||||
Realised crude oil price
|
USD/barrel
|
54.89
|
49.15
|
11.7
| |||||||||
Realised natural gas price
|
USD/thousand cubic feet
|
7.07
|
6.43
|
10.0
|
Conversion: |
For domestic production of crude oil, 1 tonne = 7.10 barrels. For overseas production of crude oil, 1 tonne = 7.21 barrels. For production of natural gas, 1 cubic meter = 35.31 cubic feet.
|
Three-month period ended 31 March
| |||||||||||||
Refining
|
Unit
|
2021
|
2020
|
Changes
(%)
| |||||||||
Refinery throughput
|
million tonnes
|
62.52
|
53.74
|
16.3
| |||||||||
Gasoline, diesel and kerosene production
|
million tonnes
|
35.70
|
33.00
|
8.2
| |||||||||
Gasoline
|
million tonnes
|
16.37
|
13.02
|
25.7
| |||||||||
Diesel
|
million tonnes
|
14.34
|
14.19
|
1.1
| |||||||||
Kerosene
|
million tonnes
|
4.99
|
5.79
|
(13.8
|
)
| ||||||||
Light chemical feedstock production
|
million tonnes
|
11.60
|
9.84
|
17.9
| |||||||||
Light product yield
|
%
|
74.22
|
75.31
|
(1.09) percentage points
| |||||||||
Refining yield
|
%
|
95.26
|
94.64
|
0.62 percentage points
|
Three-month period ended 31 March
| |||||||||||||
Marketing and Distribution
|
Unit
|
2021
|
2020
|
Changes (%)
| |||||||||
Total sales volume of refined oil products
|
million tonnes
|
51.93
|
48.61
|
6.8
| |||||||||
Total domestic sales volume of refined oil products
|
million tonnes
|
40.03
|
32.48
|
23.2
| |||||||||
Retail
|
million tonnes
|
27.15
|
21.83
|
24.4
| |||||||||
Direct sales & Distribution
|
million tonnes
|
12.88
|
10.65
|
20.9
| |||||||||
Annualized average throughput per station
|
tonnes
|
3,536
|
2,844
|
24.3
|
Three-month period ended 31 March
| |||||||||||||
Chemicals
|
Unit
|
2021
|
2020
|
Changes (%)
| |||||||||
Ethylene
|
thousand tonnes
|
3,380
|
3,026
|
11.7
| |||||||||
Synthetic resin
|
thousand tonnes
|
4,787
|
4,293
|
11.5
| |||||||||
Synthetic rubber
|
thousand tonnes
|
322
|
256
|
25.8
| |||||||||
Monomers and polymers for synthetic fibre
|
thousand tonnes
|
2,343
|
2,333
|
0.4
| |||||||||
Synthetic fibre
|
thousand tonnes
|
351
|
266
|
32.0
|
3 |
Significant events
|
3.1 |
Significant changes in major items contained in the consolidated financial statements prepared in accordance with CASs and the reasons for such changes.
|
Increase/(Decrease)
| |||||||||||||||||
As of 31March2021
|
As of 31December2020
|
Amount
|
Percentage
| ||||||||||||||
Items of Consolidated Balance Sheet
|
RMBmillion
|
RMBmillion
|
RMBmillion
|
(%)
|
Main reasons for changes
| ||||||||||||
Financial assets held for trading
|
3,723
|
1
|
3,722
|
372,200
|
Increase in structured deposits
| ||||||||||||
Derivative financial assets
|
21,097
|
12,528
|
8,569
|
68
|
Increase in profit position of derivative hedging financial instruments due to fluctuation of crude oil price
| ||||||||||||
Accounts receivable
|
47,144
|
35,587
|
11,557
|
32
|
Increase in accounts receivable due to increase of crude oil price
| ||||||||||||
Short-term loans
|
48,834
|
20,756
|
28,078
|
135
|
Increase in low-interest short-term loans for supplementary of liquidity
| ||||||||||||
Other current liabilities
|
40,885
|
17,775
|
23,110
|
130
|
Issuing short-term debentures payable of RMB 30 billion for supplementary of liquidity
| ||||||||||||
Other comprehensive income
|
4,719
|
1,038
|
3,681
|
355
|
Increase in fair value gain of hedging business for crude oil and difference of foreign currency statement convertion affected by changes in foreign exchange rate
| ||||||||||||
Specific reserve
|
2,544
|
1,941
|
603
|
31
|
The provision of safety production fund
|
For three-month period ended 31 March
|
Increase/(Decrease)
| ||||||||||||||||
2021
|
2020
|
Amount
|
Percentage
| ||||||||||||||
Items of Consolidated Income Statement
|
RMB Million
|
RMB Million
|
RMB Million
|
(%)
|
Main reasons for changes
| ||||||||||||
Research and development expenses
|
2,069
|
1,091
|
978
|
90
|
Expand investment in research and development
| ||||||||||||
Other income
|
474
|
1,103
|
(629
|
)
|
(57
|
)
|
Decrease in VAT refund of imported LNG
| ||||||||||
Gains/ (losses) from changes in fair value
|
2,095
|
8,342
|
(6,247
|
)
|
(75
|
)
|
Decrease in fair value profit on derivative financial instruments not qualified as hedging
|
For three-month period ended 31 March
|
Increase/(Decrease)
| ||||||||||||||||
2021
|
2020
|
Amount
|
Percentage
| ||||||||||||||
Items of consolidated cash flow statement
|
RMB million
|
RMB million
|
RMB million
|
(%)
|
Main reasons for changes
| ||||||||||||
Payments of taxes and levies
|
(110,250
|
)
|
(84,926
|
)
|
(25,324
|
)
|
-
|
Increase in payments of consumption tax and other taxes
| |||||||||
Other cash received relating to investing activities
|
10,268
|
19,162
|
(8,894
|
)
|
(46
|
)
|
Decrease in value of certificate of deposit, over three months, expired and recovered
| ||||||||||
Net cash received from disposal of subsidiaries and other business entities
|
4,305
|
-
|
4,305
|
-
|
Balance payment of pipeline transaction received in this period
| ||||||||||||
Cash paid for acquisition of investments
|
(5,527
|
)
|
(1,672
|
)
|
(3,855
|
)
|
-
|
Increase in structured deposits
| |||||||||
Other cash paid relating to investing activities
|
(7,077
|
)
|
(14,094
|
)
|
7,017
|
-
|
Decrease in the value of certificate of deposit, over three months
| ||||||||||
Cash repayments of borrowings
|
(58,339
|
)
|
(173,688
|
)
|
115,349
|
-
|
Decrease in repayment of short-term loans at maturity
|
3.2 |
This quarterly results announcement is published in both Chinese and English languages. In the event of any inconsistency between the two versions, the Chinese version shall prevail.
|
By Order of the Board
| |
Chairman
| |
Zhang Yuzhuo
| |
28 April 2021
|
4 |
Appendix
|
4.1 |
Quarterly financial statements prepared under China Accounting Standards for Business Enterprises (CASs)
|
Items
|
At 31 March 2021
|
At 31 December 2020
| ||||||
Current assets:
| ||||||||
Cash at bank and on hand
|
198,086
|
184,412
| ||||||
Financial assets held for trading
|
3,723
|
1
| ||||||
Derivative financial assets
|
21,097
|
12,528
| ||||||
Accounts receivable
|
47,144
|
35,587
| ||||||
Receivables financing
|
9,793
|
8,735
| ||||||
Prepayments
|
10,478
|
4,862
| ||||||
Other receivables
|
29,340
|
33,602
| ||||||
Inventories
|
182,477
|
151,895
| ||||||
Other current assets
|
17,841
|
23,773
| ||||||
Total current assets
|
519,979
|
455,395
| ||||||
Non-current assets:
| ||||||||
Long-term equity investments
|
194,524
|
188,342
| ||||||
Other equity instrument investments
|
1,546
|
1,525
| ||||||
Fixed assets
|
584,545
|
589,285
| ||||||
Construction in progress
|
126,774
|
124,765
| ||||||
Right-of-use assets
|
190,945
|
189,583
| ||||||
Intangible assets
|
113,652
|
114,066
| ||||||
Goodwill
|
8,623
|
8,620
| ||||||
Long-term deferred expenses
|
9,110
|
9,535
| ||||||
Deferred tax assets
|
27,422
|
25,054
| ||||||
Other non-current assets
|
25,024
|
27,635
| ||||||
Total non-current assets
|
1,282,165
|
1,278,410
| ||||||
Total assets
|
1,802,144
|
1,733,805
|
Current liabilities:
| ||||||||
Short-term loans
|
48,834
|
20,756
| ||||||
Derivative financial liabilities
|
5,002
|
4,826
| ||||||
Bills payable
|
10,045
|
10,394
| ||||||
Accounts payable
|
162,382
|
151,262
| ||||||
Contract liabilities
|
128,886
|
126,160
| ||||||
Employee benefits payable
|
11,232
|
7,081
| ||||||
Taxes payable
|
42,770
|
76,843
| ||||||
Other payables
|
83,858
|
84,600
| ||||||
Non-current liabilities due within one year
|
25,843
|
22,493
| ||||||
Other current liabilities
|
40,885
|
17,775
| ||||||
Total current liabilities
|
559,737
|
522,190
| ||||||
Non-current liabilities:
| ||||||||
Long-term loans
|
45,296
|
45,459
| ||||||
Debentures payable
|
38,441
|
38,356
| ||||||
Lease liabilities
|
173,093
|
172,306
| ||||||
Provisions
|
46,020
|
45,552
| ||||||
Deferred tax liabilities
|
10,120
|
8,124
| ||||||
Other non-current liabilities
|
18,705
|
17,942
| ||||||
Total non-current liabilities
|
331,675
|
327,739
| ||||||
Total liabilities
|
891,412
|
849,929
| ||||||
Shareholders' equity:
| ||||||||
Share capital
|
121,071
|
121,071
| ||||||
Capital reserve
|
122,557
|
122,558
| ||||||
Other comprehensive income
|
4,719
|
1,038
| ||||||
Specific reserve
|
2,544
|
1,941
| ||||||
Surplus reserves
|
209,280
|
209,280
| ||||||
Retained earnings
|
304,504
|
286,575
| ||||||
Total equity attributable to shareholders of the Company
|
764,675
|
742,463
| ||||||
Minority interests
|
146,057
|
141,413
| ||||||
Total shareholders' equity
|
910,732
|
883,876
| ||||||
Total liabilities and shareholders' equity
|
1,802,144
|
1,733,805
|
Zhang Yuzhuo
|
Ma Yongsheng
|
Shou Donghua
|
Chairman
|
President
|
Chief Financial Officer
|
Items
|
At 31 March 2021
|
At 31 December 2020
| ||||||
Current assets:
| ||||||||
Cash at bank and on hand
|
104,062
|
99,188
| ||||||
Derivative financial assets
|
7,776
|
7,776
| ||||||
Accounts receivable
|
22,810
|
21,763
| ||||||
Receivables financing
|
526
|
707
| ||||||
Prepayments
|
4,199
|
2,626
| ||||||
Other receivables
|
41,433
|
37,938
| ||||||
Inventories
|
41,817
|
39,034
| ||||||
Other current assets
|
16,570
|
14,048
| ||||||
Total current assets
|
239,193
|
223,080
| ||||||
Non-current assets:
| ||||||||
Long-term equity investments
|
345,122
|
343,356
| ||||||
Other equity instrument investments
|
428
|
428
| ||||||
Fixed assets
|
280,394
|
283,695
| ||||||
Construction in progress
|
59,667
|
59,880
| ||||||
Right-of-use assets
|
108,617
|
108,737
| ||||||
Intangible assets
|
8,685
|
8,779
| ||||||
Long-term deferred expenses
|
2,287
|
2,499
| ||||||
Deferred tax assets
|
14,282
|
12,661
| ||||||
Other non-current assets
|
29,109
|
26,828
| ||||||
Total non-current assets
|
848,591
|
846,863
| ||||||
Total assets
|
1,087,784
|
1,069,943
| ||||||
Current liabilities:
| ||||||||
Short-term loans
|
34,394
|
20,669
| ||||||
Derivative financial liabilities
|
362
|
362
| ||||||
Bills payable
|
5,461
|
6,061
| ||||||
Accounts payable
|
70,511
|
65,779
| ||||||
Contract liabilities
|
5,701
|
5,840
| ||||||
Employee benefits payable
|
4,172
|
1,673
| ||||||
Taxes payable
|
22,856
|
43,500
| ||||||
Other payables
|
171,126
|
188,568
| ||||||
Non-current liabilities due within one year
|
13,364
|
12,026
| ||||||
Other current liabilities
|
30,400
|
439
| ||||||
Total current liabilities
|
358,347
|
344,917
|
Non-current liabilities:
| ||||||||
Long-term loans
|
29,858
|
30,413
| ||||||
Debentures payable
|
26,980
|
26,977
| ||||||
Lease liabilities
|
105,153
|
105,691
| ||||||
Provisions
|
36,474
|
36,089
| ||||||
Other non-current liabilities
|
3,517
|
3,581
| ||||||
Total non-current liabilities
|
201,982
|
202,751
| ||||||
Total liabilities
|
560,329
|
547,668
| ||||||
Shareholders' equity:
| ||||||||
Share capital
|
121,071
|
121,071
| ||||||
Capital reserve
|
68,996
|
68,976
| ||||||
Other comprehensive income
|
9,104
|
5,910
| ||||||
Specific reserve
|
1,448
|
1,189
| ||||||
Surplus reserves
|
209,280
|
209,280
| ||||||
Retained earnings
|
117,556
|
115,849
| ||||||
Total shareholders' equity
|
527,455
|
522,275
| ||||||
Total liabilities and shareholders' equity
|
1,087,784
|
1,069,943
|
Zhang Yuzhuo
|
Ma Yongsheng
|
Shou Donghua
|
Chairman
|
President
|
Chief Financial Officer
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| ||
I.
|
Operating income
|
576,982
|
554,482
| |
II.
|
Total Operating costs
|
549,384
|
582,239
| |
Including:
|
Operating costs
|
449,200
|
497,745
| |
Taxes and surcharges
|
60,396
|
50,104
| ||
Selling and distribution expenses
|
16,054
|
14,662
| ||
General and administrative expenses
|
16,790
|
14,334
| ||
Research and development costs
|
2,069
|
1,091
| ||
Financial expenses
|
2,379
|
2,035
| ||
Exploration expenses, including dry holes
|
2,496
|
2,268
| ||
Add:
|
Other income
|
474
|
1,103
| |
Investment income
|
(76)
|
153
| ||
Gains from changes in fair value
|
2,095
|
8,342
| ||
Credit impairment losses
|
14
|
5
| ||
Impairment losses
|
11
|
(10,360)
| ||
Asset disposal gains
|
164
|
60
| ||
III.
|
Operating profit/(loss)
|
30,280
|
(28,454)
| |
Add:
|
Non-operating income
|
304
|
216
| |
Less:
|
Non-operating expenses
|
597
|
476
| |
IV.
|
Profit/(loss) before taxation
|
29,987
|
(28,714)
| |
Less:
|
Income tax expense
|
7,082
|
(7,529)
| |
V.
|
Net profit/(loss)
|
22,905
|
(21,185)
| |
Classification by going concern:
| ||||
(i) Net profit/(loss) from continuous operation
|
22,905
|
(21,185)
| ||
(ii) Net profit from discontinued operation
|
-
|
-
| ||
Classification by ownership:
| ||||
(i) Equity shareholders of the Company
|
17,929
|
(19,866)
| ||
(ii) Minority interests
|
4,976
|
(1,319)
|
VI.
|
Other comprehensive income
|
4,857
|
(7,360)
| |
Items that may not be reclassified subsequently to profit or loss:
| ||||
Changes in fair value of other equity instrument investments
|
20
|
-
| ||
Items that may be reclassified subsequently to profit or loss:
| ||||
Other comprehensive income that can be converted into profit or loss under the equity method
|
(135)
|
(76)
| ||
Fair value hedges
|
(20)
|
-
| ||
Cash flow hedges
|
4,627
|
(8,401)
| ||
Foreign currency translation differences
|
365
|
1,117
| ||
VII.
|
Total comprehensive income
|
27,762
|
(28,545)
| |
Equity shareholders of the Company
|
22,451
|
(27,187)
| ||
Minority interests
|
5,311
|
(1,358)
| ||
VII.
|
Earnings per share:
| |||
(i) Basic earnings per share (RMB/Share)
|
0.148
|
(0.164)
| ||
(ii) Diluted earnings per share (RMB/Share)
|
0.148
|
(0.164)
|
Zhang Yuzhuo
|
Ma Yongsheng
|
Shou Donghua
|
Chairman
|
President
|
Chief Financial Officer
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| ||
I.
|
Operating income
|
227,855
|
199,942
| |
Less:
|
Operating costs
|
176,554
|
171,987
| |
Taxes and surcharges
|
36,511
|
32,996
| ||
Selling and distribution expenses
|
967
|
724
| ||
General and administrative expenses
|
7,922
|
6,992
| ||
Research and development costs
|
1,956
|
1,034
| ||
Financial expenses
|
2,629
|
2,050
| ||
Exploration expenses, including dry holes
|
2,056
|
1,936
| ||
Add:
|
Other income
|
232
|
896
| |
Investment income
|
3,058
|
814
| ||
Gains from changes in fair value
|
288
|
400
| ||
Credit impairment losses
|
1
|
31
| ||
Impairment losses
|
(1)
|
(7,992)
| ||
Asset disposal gains
|
-
|
1
| ||
II.
|
Operating profit/(loss)
|
2,838
|
(23,627)
| |
Add:
|
Non-operating income
|
99
|
33
| |
Less:
|
Non-operating expenses
|
311
|
232
| |
III.
|
Profit/(loss) before taxation
|
2,626
|
(23,826)
| |
Less:
|
Income tax expense
|
918
|
(6,002)
| |
IV.
|
Net profit/(loss)
|
1,708
|
(17,824)
| |
(i) Net profit/(loss) from continuous operation
|
1,708
|
(17,824)
| ||
(ii) Net profit from discontinued operation
|
-
|
-
| ||
V.
|
Other comprehensive income
|
3,514
|
(7,387)
| |
Items that may be reclassified subsequently to profit or loss
| ||||
Other comprehensive loss that can be converted into profit or loss under the equity method
|
7
|
49
| ||
Cash flow hedges
|
3,507
|
(7,436)
| ||
VI.
|
Total comprehensive income
|
5,222
|
(25,211)
|
Zhang Yuzhuo
|
Ma Yongsheng
|
Shou Donghua
|
Chairman
|
President
|
Chief Financial Officer
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| |
I.
|
Cash flows from operating activities:
| ||
Cash received from sale of goods and rendering of services
|
605,032
|
598,622
| |
Refund of taxes and levies
|
39
|
818
| |
Other cash received relating to operating activities
|
37,445
|
35,349
| |
Sub-total of cash inflows
|
642,516
|
634,789
| |
Cash paid for goods and services
|
(485,354)
|
(541,718)
| |
Cash paid to and for employees
|
(18,036)
|
(17,033)
| |
Payments of taxes and levies
|
(110,250)
|
(84,926)
| |
Other cash paid relating to operating activities
|
(44,454)
|
(59,082)
| |
Sub-total of cash outflows
|
(658,094)
|
(702,759)
| |
Net cash flow from operating activities
|
(15,578)
|
(67,970)
| |
II.
|
Cash flows from investing activities:
| ||
Cash received from disposal of investments
|
177
|
3,402
| |
Cash received from returns on investments
|
895
|
986
| |
Net cash received from disposal of fixed assets, intangible assets and other long-term assets
|
324
|
18
| |
Other cash received relating to investing activities
|
10,268
|
19,162
| |
Net cash received from disposal of subsidiaries and other business entities
|
4,305
|
-
| |
Sub-total of cash inflows
|
15,969
|
23,568
| |
Cash paid for acquisition of fixed assets, intangible assets and other long-term assets
|
(27,417)
|
(22,350)
| |
Cash paid for acquisition of investments
|
(5,527)
|
(1,672)
| |
Other cash paid relating to investing activities
|
(7,077)
|
(14,094)
| |
Sub-total of cash outflows
|
(40,021)
|
(38,116)
| |
Net cash flow from investing activities
|
(24,052)
|
(14,548)
| |
III.
|
Cash flows from financing activities:
| ||
Cash received from capital contributions
|
124
|
260
| |
Including: Cash received from minority shareholders' capital contributions to subsidiaries
|
48
|
260
|
Cash received from borrowings
|
114,768
|
275,885
| |
Other cash received relating to financing activities
|
7
|
276
| |
Sub-total of cash inflows
|
114,899
|
276,421
| |
Cash repayments of borrowings
|
(58,339)
|
(173,688)
| |
Cash paid for dividends, profits distribution or interest
|
(1,784)
|
(1,583)
| |
Including: Subsidiaries' cash payments for distribution of dividends or profits to minority shareholders
|
(840)
|
(160)
| |
Other cash paid relating to financing activities
|
(3,662)
|
(3,492)
| |
Sub-total of cash outflows
|
(63,785)
|
(178,763)
| |
Net cash flow from financing activities
|
51,114
|
97,658
| |
IV.
|
Effects of changes in foreign exchangerate
|
204
|
553
|
V.
|
Net increase in cash and cash equivalents
|
11,688
|
15,693
|
Add: Initial balance of cash and cash equivalents
|
87,559
|
60,438
| |
VI.
|
Ending balance of cash and cashequivalents
|
99,247
|
76,131
|
Zhang Yuzhuo
|
Ma Yongsheng
|
Shou Donghua
|
Chairman
|
President
|
Chief Financial Officer
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| |
I.
|
Cash flows from operating activities:
| ||
Cash received from sale of goods and rendering of services
|
249,027
|
217,331
| |
Refund of taxes and levies
|
21
|
798
| |
Other cash received relating to operating activities
|
6,966
|
1,619
| |
Sub-total of cash inflows
|
256,014
|
219,748
| |
Cash paid for goods and services
|
(184,870)
|
(175,248)
| |
Cash paid to and for employees
|
(9,474)
|
(8,835)
| |
Payments of taxes and levies
|
(63,405)
|
(53,244)
| |
Other cash paid relating to operating activities
|
(6,431)
|
(5,349)
| |
Sub-total of cash outflows
|
(264,180)
|
(242,676)
| |
Net cash flow from operating activities
|
(8,166)
|
(22,928)
| |
II.
|
Cash flows from investing activities:
| ||
Cash received from disposal of investments
|
4,399
|
4,759
| |
Cash received from returns on investments
|
1,567
|
1,224
| |
Net cash received from disposal of fixed assets, intangible assets and other long-term assets
|
17
|
3
| |
Other cash received relating to investing activities
|
26,174
|
44,575
| |
Sub-total of cash inflows
|
32,157
|
50,561
| |
Cash paid for acquisition of fixed assets, intangible assets and other long-term assets
|
(11,540)
|
(9,307)
| |
Cash paid for acquisition of investments
|
(9,795)
|
(2,807)
| |
Other cash paid relating to investing activities
|
(26,479)
|
(47,607)
| |
Sub-total of cash outflows
|
(47,814)
|
(59,721)
| |
Net cash flow from investing activities
|
(15,657)
|
(9,160)
| |
III.
|
Cash flows from financing activities:
| ||
Cash received from borrowings
|
73,395
|
130,458
| |
Other cash received relating to financing activities
|
307,581
|
57,475
| |
Sub-total of cash inflows
|
380,976
|
187,933
| |
Cash repayments of borrowings
|
(30,225)
|
(66,328)
| |
Cash paid for dividends or interest
|
(2,005)
|
(875)
| |
Other cash paid relating to financing activities
|
(318,350)
|
(72,108)
| |
Sub-total of cash outflows
|
(350,580)
|
(139,311)
| |
Net cash flow from financing activities
|
30,396
|
48,622
|
IV.
|
Net increase in cash and cash equivalents
|
6,573
|
16,534
|
Add:Initial balance of cash and cash equivalents
|
28,081
|
38,616
| |
V.
|
Ending balance of cash and cash equivalents
|
34,654
|
55,150
|
Zhang Yuzhuo
|
Ma Yongsheng
|
Shou Donghua
|
Chairman
|
President
|
Chief Financial Officer
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| ||||||
Income from principal operations
| ||||||||
Exploration and production
| ||||||||
External sales
|
34,776
|
26,944
| ||||||
Inter-segment sales
|
18,812
|
18,238
| ||||||
Subtotal
|
53,588
|
45,182
| ||||||
Refining
| ||||||||
External sales
|
37,727
|
25,145
| ||||||
Inter-segment sales
|
259,339
|
217,468
| ||||||
Subtotal
|
297,066
|
242,613
| ||||||
Marketing and distribution
| ||||||||
External sales
|
278,914
|
248,725
| ||||||
Inter-segment sales
|
1,359
|
1,226
| ||||||
Subtotal
|
280,273
|
249,951
| ||||||
Chemicals
| ||||||||
External sales
|
95,550
|
71,652
| ||||||
Inter-segment sales
|
14,102
|
15,354
| ||||||
Subtotal
|
109,652
|
87,006
| ||||||
Corporate and others
| ||||||||
External sales
|
114,257
|
169,142
| ||||||
Inter-segment sales
|
161,530
|
131,839
| ||||||
Subtotal
|
275,787
|
300,981
| ||||||
Elimination of inter-segment sales
|
(455,142
|
)
|
(384,125
|
)
| ||||
Consolidated income from principal operations
|
561,224
|
541,608
| ||||||
Income from other operations
| ||||||||
Exploration and production
|
1,754
|
1,272
| ||||||
Refining
|
1,148
|
932
| ||||||
Marketing and distribution
|
9,877
|
6,939
| ||||||
Chemicals
|
2,604
|
3,405
| ||||||
Corporate and others
|
375
|
326
| ||||||
Consolidated income from other operations
|
15,758
|
12,874
| ||||||
Consolidated operating income
|
576,982
|
554,482
|
Operating profit/(loss)
| ||||||||
By segment
| ||||||||
Exploration and production
|
1,885
|
404
| ||||||
Refining
|
19,656
|
(26,299
|
)
| |||||
Marketing and distribution
|
8,009
|
(2,621
|
)
| |||||
Chemicals
|
6,852
|
(1,894
|
)
| |||||
Corporate and others
|
1,300
|
(5,667
|
)
| |||||
Elimination
|
(7,700
|
)
|
-
| |||||
Total segment operating profit/(loss)
|
30,002
|
(36,077
|
)
| |||||
Investment income
| ||||||||
Exploration and production
|
803
|
476
| ||||||
Refining
|
(10
|
)
|
(680
|
)
| ||||
Marketing and distribution
|
269
|
657
| ||||||
Chemicals
|
1,828
|
(66
|
)
| |||||
Corporate and others
|
(2,966
|
)
|
(234
|
)
| ||||
Total segment investment income
|
(76
|
)
|
153
| |||||
Financial expenses
|
(2,379
|
)
|
(2,035
|
)
| ||||
Gains/(losses) from changes in fair value
|
2,095
|
8,342
| ||||||
Asset disposal gains/(losses)
|
164
|
63
| ||||||
Other income
|
474
|
1,100
| ||||||
Operating profit/(loss)
|
30,280
|
(28,454
|
)
| |||||
Add: Non-operating income
|
304
|
216
| ||||||
Less: Non-operating expenses
|
597
|
476
| ||||||
Profit/(loss) before taxation
|
29,987
|
(28,714
|
)
|
4.2 |
Quarterly financial statements prepared under International Financial Reporting Standards (IFRS)
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| ||||||
Turnover and other operating revenues
| ||||||||
Turnover
|
561,224
|
541,608
| ||||||
Other operating revenues
|
15,758
|
12,874
| ||||||
Subtotal
|
576,982
|
554,482
| ||||||
Operating expenses
| ||||||||
Purchased crude oil, products and operating supplies and expenses
|
(422,730
|
)
|
(482,608
|
)
| ||||
Selling, general and administrative expenses
|
(12,358
|
)
|
(10,505
|
)
| ||||
Depreciation, depletion and amortisation
|
(26,536
|
)
|
(25,157
|
)
| ||||
Exploration expenses, including dry holes
|
(2,496
|
)
|
(2,268
|
)
| ||||
Personnel expenses
|
(21,774
|
)
|
(19,147
|
)
| ||||
Taxes other than income tax
|
(60,396
|
)
|
(50,105
|
)
| ||||
Other operating (expense)/revenue, net
|
(1,991
|
)
|
8,875
| |||||
Total operating expenses
|
(548,281
|
)
|
(580,915
|
)
| ||||
Operating profit/(loss)
|
28,701
|
(26,433
|
)
| |||||
Finance costs
| ||||||||
Interest expense
|
(3,684
|
)
|
(3,922
|
)
| ||||
Interest income
|
1,297
|
1,086
| ||||||
Foreign currency exchange loss, net
|
8
|
801
| ||||||
Net finance costs
|
(2,379
|
)
|
(2,035
|
)
| ||||
Investment income
|
68
|
29
| ||||||
Share of profits less losses from associates and joint ventures
|
4,311
|
472
| ||||||
Profit /(loss) before taxation
|
30,701
|
(27,967
|
)
| |||||
Income tax expense
|
(7,082
|
)
|
7,529
| |||||
Profit /(loss) for the period
|
23,619
|
(20,438
|
)
| |||||
Attributable to:
| ||||||||
Owners of the Company
|
18,543
|
(19,229
|
)
| |||||
Non-controlling interests
|
5,076
|
(1,209
|
)
| |||||
Profit /(loss)for the period
|
23,619
|
(20,438
|
)
| |||||
Earnings per share
| ||||||||
Basic earnings per share (RMB)
|
0.153
|
(0.159
|
)
| |||||
Diluted earnings per share (RMB)
|
0.153
|
(0.159
|
)
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| ||||||
Profit for the period
|
23,619
|
(20,438
|
)
| |||||
Other comprehensive income:
|
4,857
|
(7,360
|
)
| |||||
Items that may not be reclassified subsequently to profit or loss:
| ||||||||
Equity investments at fair value through other comprehensive income
|
20
|
-
| ||||||
Items that may be reclassified subsequently to profit or loss:
| ||||||||
Fair value hedges
|
(20
|
)
|
-
| |||||
Share of other comprehensive income of associates and joint ventures
|
(135
|
)
|
(76
|
)
| ||||
Cash flow hedges
|
4,627
|
(8,401
|
)
| |||||
Foreign currency translation differences
|
365
|
1,117
| ||||||
Total comprehensive income
|
28,476
|
(27,798
|
)
| |||||
Attributable to:
| ||||||||
Shareholders of the Company
|
23,065
|
(26,550
|
)
| |||||
Non-controlling interests
|
5,411
|
(1,248
|
)
|
Items
|
At 31 March 2021
|
At 31 December 2020
| ||||||
Non-current assets:
| ||||||||
Property, plant and equipment, net
|
584,395
|
589,247
| ||||||
Construction in progress
|
126,774
|
124,765
| ||||||
Right-of-use assets
|
268,061
|
266,368
| ||||||
Goodwill
|
8,623
|
8,620
| ||||||
Interest in associates
|
138,308
|
136,163
| ||||||
Interest in joint ventures
|
56,216
|
52,179
| ||||||
Financial assets at fair value through other comprehensive income
|
1,546
|
1,525
| ||||||
Deferred tax assets
|
27,422
|
25,054
| ||||||
Long-term prepayments and other non-current assets
|
70,820
|
74,489
| ||||||
Total non-current assets
|
1,282,165
|
1,278,410
| ||||||
Current assets:
| ||||||||
Cash and cash equivalents
|
99,247
|
87,559
| ||||||
Time deposits with financial institutions
|
98,839
|
100,498
| ||||||
Financial assets at fair value through profit and loss
|
3,723
|
1
| ||||||
Derivatives financial assets
|
21,097
|
12,528
| ||||||
Trade accounts receivable and bills receivable
|
47,144
|
35,587
| ||||||
Financial assets at fair value through other comprehensive income
|
9,793
|
8,735
| ||||||
Inventories
|
182,477
|
151,895
| ||||||
Prepaid expenses and other current assets
|
57,659
|
58,592
| ||||||
Total current assets
|
519,979
|
455,395
| ||||||
Current liabilities:
| ||||||||
Short-term debts
|
74,991
|
23,769
| ||||||
Loans from Sinopec Group Company and fellow subsidiaries
|
10,790
|
5,264
| ||||||
Lease liabilities
|
16,961
|
15,292
| ||||||
Derivatives financial liabilities
|
5,002
|
4,826
| ||||||
Trade accounts payable and bills payable
|
172,427
|
161,656
| ||||||
Contract liabilities
|
128,886
|
126,160
| ||||||
Other payables
|
143,519
|
178,637
| ||||||
Income tax payable
|
7,161
|
6,586
| ||||||
Total current liabilities
|
559,737
|
522,190
|
Net current liabilities
|
39,758
|
66,795
| ||||||
Total assets less current liabilities
|
1,242,407
|
1,211,615
| ||||||
Non-current liabilities:
| ||||||||
Long-term debts
|
72,041
|
72,037
| ||||||
Loans from Sinopec Group Company and fellow subsidiaries
|
11,696
|
11,778
| ||||||
Lease liabilities
|
173,093
|
172,306
| ||||||
Deferred tax liabilities
|
10,120
|
8,124
| ||||||
Provisions
|
46,020
|
45,552
| ||||||
Other non-current liabilities
|
19,711
|
18,960
| ||||||
Total non-current liabilities
|
332,681
|
328,757
| ||||||
Total net assets
|
909,726
|
882,858
| ||||||
Equity:
| ||||||||
Share capital
|
121,071
|
121,071
| ||||||
Reserves
|
642,646
|
620,423
| ||||||
Total equity attributable to shareholders of the Company
|
763,717
|
741,494
| ||||||
Non-controlling interests
|
146,009
|
141,364
| ||||||
Total equity
|
909,726
|
882,858
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| ||||||
Net cash generated from operating activities(a)
|
(15,578
|
)
|
(67,970
|
)
| ||||
Investing activities
| ||||||||
Capital expenditure
|
(20,561
|
)
|
(20,455
|
)
| ||||
Exploratory wells expenditure
|
(6,856
|
)
|
(1,895
|
)
| ||||
Purchase of investments, investments in associates and investments in joint ventures
|
(2,327
|
)
|
(1,672
|
)
| ||||
Payment for financial assets at fair value through profit or loss
|
(3,200
|
)
|
-
| |||||
Proceeds from disposal of investments and investments in associates
|
4,482
|
3,402
| ||||||
Proceeds from disposal of property, plant, equipment and other non-current assets
|
324
|
18
| ||||||
Increase in time deposits with maturities over three months
|
(4,748
|
)
|
(13,912
|
)
| ||||
Decrease in time deposits with maturities over three months
|
9,359
|
18,553
| ||||||
Interest received
|
287
|
609
| ||||||
Investment and dividend income received
|
895
|
986
| ||||||
Repayments of other investing activities
|
(1,707
|
)
|
(182
|
)
| ||||
Net cash used in investing activities
|
(24,052
|
)
|
(14,548
|
)
| ||||
Financing activities
| ||||||||
Proceeds from bank and other loans
|
114,768
|
275,885
| ||||||
Repayments of bank and other loans
|
(58,339
|
)
|
(173,688
|
)
| ||||
Contributions to subsidiaries from non-controlling interests
|
124
|
260
| ||||||
Distributions by subsidiaries to non-controlling interests
|
(840
|
)
|
(160
|
)
| ||||
Interest paid
|
(944
|
)
|
(1,423
|
)
| ||||
Payments made to acquire non-controlling interests
|
-
|
(1,117
|
)
| |||||
Repayments of lease liabilities
|
(3,649
|
)
|
(2,375
|
)
| ||||
(Repayments)/proceeds from other financing activities
|
(6
|
)
|
276
| |||||
Net cash used in financing activities
|
51,114
|
97,658
| ||||||
Net increase in cash and cash equivalents
|
11,484
|
15,140
| ||||||
Cash and cash equivalents at 1 January
|
87,559
|
60,438
| ||||||
Effect of foreign currency exchange rate changes
|
204
|
553
| ||||||
Cash and cash equivalents at 31 March
|
99,247
|
76,131
|
(a) |
Reconciliation of profit before taxation to net cash generated from operating activities
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| ||||||
Operating activities
| ||||||||
Profit before taxation
|
30,701
|
(27,967
|
)
| |||||
Adjustments for:
| ||||||||
Depreciation, depletion and amortisation
|
26,536
|
25,157
| ||||||
Dry hole costs written off
|
1,222
|
1,863
| ||||||
Share of profits from associates and joint ventures
|
(4,311
|
)
|
(472
|
)
| ||||
Investment income
|
(68
|
)
|
(29
|
)
| ||||
Interest income
|
(1,297
|
)
|
(715
|
)
| ||||
Interest expense
|
3,684
|
3,684
| ||||||
Gain on foreign currency exchange rate changes and derivative financial instruments
|
(2,087
|
)
|
(8,589
|
)
| ||||
Gain on disposal of property, plant, equipment and other non-current assets, net
|
(164
|
)
|
(3
|
)
| ||||
Impairment (reversal)/loss on assets
|
(11
|
)
|
10,360
| |||||
Credit impairment reversal
|
(14
|
)
|
(5
|
)
| ||||
Operating profit before change of operating capital
|
54,191
|
3,284
| ||||||
Accounts receivable and other current assets
|
(13,918
|
)
|
(48,286
|
)
| ||||
Inventories
|
(30,619
|
)
|
(501
|
)
| ||||
Accounts payable and other current liabilities
|
(22,509
|
)
|
(17,410
|
)
| ||||
Subtotal
|
(12,855
|
)
|
(62,913
|
)
| ||||
Income tax paid
|
(2,723
|
)
|
(5,057
|
)
| ||||
Net cash generated from operating activities
|
(15,578
|
)
|
(67,970
|
)
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| ||||||
Turnover
| ||||||||
Exploration and production
| ||||||||
External sales
|
34,776
|
26,944
| ||||||
Inter-segment sales
|
18,812
|
18,238
| ||||||
Subtotal
|
53,588
|
45,182
| ||||||
Refining
| ||||||||
External sales
|
37,727
|
25,145
| ||||||
Inter-segment sales
|
259,339
|
217,468
| ||||||
Subtotal
|
297,066
|
242,613
| ||||||
Marketing and distribution
| ||||||||
External sales
|
278,914
|
248,725
| ||||||
Inter-segment sales
|
1,359
|
1,226
| ||||||
Subtotal
|
280,273
|
249,951
| ||||||
Chemicals
| ||||||||
External sales
|
95,550
|
71,652
| ||||||
Inter-segment sales
|
14,102
|
15,354
| ||||||
Subtotal
|
109,652
|
87,006
| ||||||
Corporate and others
| ||||||||
External sales
|
114,257
|
169,142
| ||||||
Inter-segment sales
|
161,530
|
131,839
| ||||||
Subtotal
|
275,787
|
300,981
| ||||||
Elimination of inter-segment sales
|
(455,142
|
)
|
(384,125
|
)
| ||||
Turnover
|
561,224
|
541,608
| ||||||
Other operating revenues
| ||||||||
Exploration and production
|
1,754
|
1,272
| ||||||
Refining
|
1,148
|
932
| ||||||
Marketing and distribution
|
9,877
|
6,939
| ||||||
Chemicals
|
2,604
|
3,405
| ||||||
Corporate and others
|
375
|
326
| ||||||
Other operating revenues
|
15,758
|
12,874
| ||||||
Turnover and other operating revenues
|
576,982
|
554,482
| ||||||
Result
| ||||||||
Operating profit/(loss)
|
By segment
| ||||||||
Exploration and production
|
2,356
|
1,518
| ||||||
Refining
|
19,487
|
(25,794
|
)
| |||||
Marketing and distribution
|
8,021
|
(1,536
|
)
| |||||
Chemicals
|
7,104
|
(1,696
|
)
| |||||
Corporate and others
|
(567
|
)
|
1,075
| |||||
Elimination
|
(7,700
|
)
|
-
| |||||
Total segment operating profit/(loss)
|
28,701
|
(26,433
|
)
| |||||
Share of profits from associates and joint ventures
| ||||||||
Exploration and production
|
656
|
476
| ||||||
Refining
|
412
|
(682
|
)
| |||||
Marketing and distribution
|
525
|
287
| ||||||
Chemicals
|
1,795
|
(76
|
)
| |||||
Corporate and others
|
923
|
467
| ||||||
Aggregate share of profits from associates and joint ventures
|
4,311
|
472
| ||||||
Investment income/(losses)
| ||||||||
Exploration and production
|
60
|
-
| ||||||
Refining
|
(14
|
)
|
2
| |||||
Marketing and distribution
|
4
|
14
| ||||||
Chemicals
|
34
|
8
| ||||||
Corporate and others
|
(16
|
)
|
5
| |||||
Aggregate investment income
|
68
|
29
| ||||||
Net finance costs
|
(2,379
|
)
|
(2,035
|
)
| ||||
Profit/(loss) before taxation
|
30,701
|
(27,967
|
)
|
4.3 |
Differences between consolidated financial statements prepared in accordance with the accounting policies complying with the accounting policies complying with CASs and IFRS (Unaudited)
|
(i) |
Government grants
|
(ii) |
Safety production fund
|
Items
|
Three-month period ended 31 March 2021
|
Three-month period ended 31 March 2020
| ||||||
Net profit/(loss) under CASs
|
22,905
|
(21,185
|
)
| |||||
Adjustments:
| ||||||||
Government grants(i)
|
12
|
12
| ||||||
Safety production fund(ii)
|
702
|
735
| ||||||
Profit/(loss) for the period under IFRS
|
23,619
|
(20,438
|
)
|
Items
|
As of 31 March 2021
|
As of 31 December 2020
| ||||||
Shareholders' equity under CASs
|
910,732
|
883,876
| ||||||
Adjustments:
| ||||||||
Government grants(i)
|
(1,006
|
)
|
(1,018
|
)
| ||||
Total equity under IFRS
|
909,726
|
882,858
|
Attachments
- Original document
- Permalink
Disclaimer
China Petroleum & Chemical Corporation published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 12:21:02 UTC.