Sinopec, the hottest company, doubled its net prof

Sinopec doubled its net profit last year and earned 61.3 billion yuan, an increase of 115.5% year-on-year.

Sinopec, the largest oil refiner in China, announced its performance last night. Last year, it benefited from the good price adjustment mechanism of refined oil, and its net profit reached 61.3 billion yuan, an increase of 115.5% year-on-year. The final dividend is 0.11 yuan/share, and the annual dividend is 0.18 yuan/share. This performance is also basically consistent with the previous expectation of securities companies to double their profits

in 2009, Sinopec achieved an operating profit of 80.2 billion yuan, an increase of 109 billion yuan year-on-year. Last year, Sinopec's refining profit reached 23.1 billion yuan, while its refining loss in 2008 reached 102 billion yuan, 7.5 times that of 2007

however, the turnover in 2009 was for the people. Although China is a large country in the production and use of plastic flexible packaging, RMB 1315.9 billion was used, a year-on-year decrease of 6.9%. Sinopec said that this was mainly due to the expansion of business scale, but the prices of oil and petrochemical products fell year-on-year; In addition, in 2008, because the nickel used in lithium-ion batteries in the oil price of finished products was less than 10% of its production capacity, the company received a national compensation of 50.9 billion yuan, but it was not compensated last year

it is worth noting that although Sinopec doubled its profits, its executive compensation was generally reduced. In 2009, the salary of Wang Tianpu, vice chairman and President of Sinopec, was 725700 yuan, a decrease of nearly 120000 yuan from 844000 yuan in 2008; The salary of vice president Zhang Jianhua also decreased from 808000 yuan in 2008 to 720400 yuan

however, last year's staff costs increased by 23.3% year-on-year, reaching 28.836 billion yuan. In this regard, Sinopec said that the increase in staff costs was mainly due to the company's provision of annuity, performance pay and housing subsidies for employees who worked after December 31, 1998, while the company did not make provision for performance pay in 2008 due to the decline in performance

related: Sinopec acquired overseas assets for the first time

this report, Sinopec revealed yesterday that it acquired 55% of the equity of SSI company held by soogl, a subsidiary of the group company, for us $2.457 billion, while SSI company owns 50% of the equity of Angola 1, our best technology 8 block. Sinopec said that this asset is the best overseas asset of the group company at present, and it is also the first time for a listed company to acquire overseas upstream assets of the group company

Sinopec said that after the completion of this transaction, the proved reserves of Sinopec's remaining crude oil will increase by 102 million barrels, an increase of 3.6%; Crude oil production will increase by 725200 barrels/day, an increase of 8.8%. It is understood that the operating cost of oil and gas cash in the eastern area of block 18 is only $7/barrel. According to the consolidated caliber, this transaction will help reduce the operating cost of oil and gas cash of the joint-stock company. Sinopec said that after the completion of the transaction, the company's simulated earnings per share in 2009 will be slightly thickened

this acquisition proposal has been approved by the board of directors and will be submitted to independent shareholders for deliberation and approval at the annual general meeting in May this year

domestic energy experts believe that injecting overseas assets of listed companies is an effective way to improve their performance when there is a bottleneck in the increase of domestic production

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