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BEIJING, March 31, 2022 /PRNewswire=KYODO JBN/ --

China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec" or "the Company")

hosted its 2021 annual performance conference on March 28 in Beijing via

webinar. Per International Financial Reporting Standards, Sinopec's 2021

turnover and other operating income was CNY2.74 trillion (USD431.50billion),

with profit attributable to shareholders of the company reaching CNY71.975

billion (USD11.33 billion), a 115.2 percent growth year-on-year. This has been

Sinopec's best operating performance in the past decade.

A dividend of CNY0.47 per share was distributed throughout the year, with a

dividend payout ratio of 80 percent. Based on the weighted average share price

in 2021, the dividend yield of A shares and H shares reached 10.8 percent and

14.3 percent, respectively.

In light of the COVID-19 pandemic and a complex macroenvironment, Sinopec

focused on advancing high-quality production and operations, transformative

development, technological innovation, management reform, risk prevention and

control among other aspects in 2021 to achieve a solid start in line with

China's "14th Five-Year Plan." Overall, Sinopec's various business sectors have

been growing positively, with remarkable achievements in:

-Increasing upstream oil and gas reserves;

-Expanding refining scale and competitive advantages;

-Continuous increase of the sales and operation scale of refined oil;

-Giving full play to leading with innovative and technological support.

In the meantime, Sinopec also focused on environmental, social and corporate

governance (ESG) development with the board of directors coming from more

diverse backgrounds and the Company is actively responding to climate change

challenges, vigorously saving energy and reducing pollution and carbon

emissions, as well as supporting the 2022 Beijing Winter Olympics and

Paralympics.

Mr. Ma Yongsheng, president of Sinopec noted, Sinopec will give full play to

its advantages in the integration of marketing, brand, technology and talent to

unswervingly move towards the goal of becoming a world-leading clean energy and

chemical company, creating greater value for shareholders and society.

"Looking to the future, Sinopec will actively and constructively embrace energy

transformation and the transformation of the industry as a whole, extensively

implementing a world-leading development strategy and continuously optimizing

the 14th Five-Year Plan and long-term 2035 goal to achieve high-quality,

sustainable development," said Ma.

Sinopec has laid out five key focuses in implementing its new development

strategy and strives to:

-Improve corporate governance: Sinopec will promote the integration of risk

control, internal control and compliance management to strictly control risks

in terms of safety, environmental protection, operation management and more.

Sinopec will also further integrate ESG with production, operation and

development to improve corporate governance efficiency.

-Execute an innovation-driven development strategy: Sinopec will create a

cradle for original technologies to promote the development and application of

advanced technologies for oil and gas resources, emphasize technological

breakthroughs in oil refining, high-end chemicals and new materials, modern

coal chemicals, new energy and more, and strengthen the development of the

industry's key technologies, common technologies and cutting-edge technologies.

-Enhance energy supply capacity: Sinopec is devoting greater efforts in the

exploration and development of oil and gas, aiming to achieve major

breakthroughs and discoveries of shale oil and gas, promote the coordinated

development of natural gas production, supply, storage and sales, maintain

domestic oil and gas reserves with steady growth in production, and actively

and steadily lay out new energy businesses such as hydrogen energy. It will

strengthen the support capability of international trade, improve global

resource allocation capacity and explore the establishing a multi-energy

complementary energy supply system.

-Promote the upgrade of refining and chemical businesses: Sinopec aims to

optimize oil refining and expand and strengthen chemical engineering, speeding

up the progress of "crude-to-chemicals" and "petroleum derivative products" to

promote the mid- to high-end development of the chemical business and build a

large-scale, integrated and intelligent world-class refining and chemical

engineering base.

-Build green and low-carbon competitive advantages: Coordinating the

relationship between development and emissions reduction, Sinopec continues the

optimization of its industrial and energy use structures, improves energy

efficiency to set industry benchmarks. Sinopec has also accelerated the R&D of

green, low-carbon technologies using the Sinopec Qilu-Shengli Oilfield CCUS

project as the foundation.

For more information, please visit Sinopec.

SOURCE: SINOPEC

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=418270

   Caption: Sinopec hosted its 2021 annual performance conference on Mar.28th, reporting

its 2021 turnover and other operating income was CNY 2.74 trillion (USD 431.50

billion), with profit attributable to shareholders of the company reaching CNY

71.975 billion (USD 11.33 billion), a 115.2 percent growth year-on-year.