Sinopec net profit increased 13% to 70.7 billion last year

NetEase Finance March 27 News Sinopec released its 2010 annual performance report today. Thanks to the sharp rise in oil prices and the surge in Chinese car sales, Sinopec's 2010-year income has grown substantially. Data show that Sinopec 2010 annual income of 1.913 trillion, compared with 2009 1.345 trillion growth of 42.2%, the annual net profit of 70.713 billion yuan, compared to 2009 62.677 billion yuan growth of 12.8%. The basic earnings per share was 0.816 yuan, up 12.8% from 2009 's 0.723 Yuan.　　A dividend of $0.21 per share is issued throughout the year. Processing crude oil exceeding 200 million tons imports accounted for 78% earnings, Sinopec's annual crude oil production of 327.9 million barrels, compared to 2009 327.6 million barrels only increased by 0.1%. China produced 302 million barrels and Africa produced 25.67 million barrels, down 3% from 2009. Sinopec's natural gas production surged, from 299.01 billion cubic feet in 2009 to 441.39 billion cubic feet in 2010, to 47.6%, as the project was put into operation during the year.　　Sinopec said that the 2011-year plan to produce 45.59 million tons of crude oil, 14.1 billion cubic meters of natural gas production. Refining as the main business of Sinopec, the total processing of crude oil reached 211 million tons, up from 2009 187 million tons increased by 13.2%. Sinopec because its crude oil production is difficult to meet the needs of refining, so its crude oil sources are more diversified, and PetroChina and CNOOC have a big difference. From the source, Sinopec's annual processing of domestic assets of 35.13 million tons of crude oil, down from 2009 to 0.3%; the crude oil from PetroChina is 5.1 million tonnes, a sharp reduction from 2009, and 6.91 million tonnes of crude oil from CNOOC, up 6.5% from the same year, while the largest source is imports, The annual processing of imported crude oil reached 165 million tons, up from 2009 139 million tons increased by 18.9%.　　The proportion of imported crude oil to total processed crude oil reached 78%.　　Earnings showed that Sinopec 2010 procurement of crude oil cost 606 billion yuan, an increase of 49.5% per cent, the average unit of processing finished products reached 3907 yuan/ton, an increase of 30.2%. The annual production of 124 million tons of refined oil, compared with the 2009 114 million tons of year-on-year growth of 9.4%.　　Among them, gasoline production of 35.87 million tons, an increase of 4.2%, diesel production 76.09 million tons, compared to 68.86 million tons in 2009 increased by 10.5%, Sinopec said mainly due to the country at the end of last year, the national diesel shortage, the company increased the production of diesel. Sinopec plans 2011 years of processing crude oil 222 million tons, production of 132 million tons of oil products, respectively, compared to 2010 growth of 5.2% and 6.5% occupy the Chinese oil market 61% share as the largest domestic oil retail enterprises, Sinopec completed the entire year in the territory finished oil sales reached 1.400 million tonnes, up 13.3% from 124 million tonnes in 2009.　　According to earnings reports, the 2010 National product view consumption of 230 million tons, indicating that Sinopec accounted for the national oil retail market share of 61%.　　Among them, the external sales revenue of 2010 oil products reached 931.6 billion yuan, an increase of 30.8%, accounting for oil sales revenue of 78.1%.　　Sinopec also said that the 2011-Year plan for domestic product sales reached 147 million tons. Sinopec also disclosed data on its vast gas station, which ended December 31, 2010 with a total of 30,116 gas stations, up 418 from the end of 2009, and 1.4% per cent of its own petrol-filling stations, with 39,601 franchised gas stations of 515.　　The average annual refueling capacity of a single station reached 2960 tonnes, an increase of 9% from the 2715 tonnes in 2009. In addition, Sinopec in most gas stations also layout of convenience stores, vigorously develop non-oil business.　　As part of Sinopec's retail business, Sinopec made a special statement in its earnings report, saying the business had grown significantly in 2010. In addition, Sinopec's chemical business has also achieved a high range of growth, the annual production of ethylene 9.059 million tons, an increase of 34.9%, the total amount of chemical products operating reached 43.5 million tons.　　Annual foreign sales of chemical products 285.6 billion yuan, an increase of 48.2%. Crude oil price surge oil refining profit decline from the four core business of the income analysis, exploration and mining division became the 2010 Sinopec's largest profit contributor, while the 2009 scenery of the unlimited refining division profits fell sharply, ranked third,　　It fully reflects the gains and losses of Sinopec, which is mainly processing imported crude oil. Data show that the 2010 exploration and Mining division revenue reached 187.145 billion yuan, compared with 2009 's 134.808 billion yuan growth of 38.8%. The operating income rose from 23.89 billion yuan in 2009 to 47.15 billion yuan, and the increase reached 97.3%.　　It also included a surge in oil prices, which led to an increase of 12.6 billion trillion yuan in the special revenue. More crucially, profit margins for exploration and mining operations rose from 17.7% to 25.2%.　　The analysis is partly due to the sharp rise in crude oil and gas prices, and the other part of the surge in gas production from the Puguang gas field in Sinopec. The oil refining division, which was the first big profit in 2009, weakened profitability by a surge in the price of imported crude. The annual income of 971.5 billion yuan, compared with the 2009 703.57 billion yuan growth of 38.1%, but the profit from the 2009 27.5 billion yuan slipped to 15.855 billion yuan, the decline reached 42.4%. Its profit margins fell from 4% in 2009 to 1.6% in 2010. Annual average cost of processed crude is 3876 yuan/ton, year-on-year growth of 32.1%, oil refining gross profit of 290.5 yuan/ton, down 12.7%. In addition, as the largest share of Sinopec's marketing and distribution Division 2010-year revenue for the first time exceeded 1 trillion yuan, reached 1.04 trillion, compared to the 2009 783.09 billion yuan significantly increased by 32.9%, but the profit is still maintained at around 30 billion yuan level,　　Only 30.3 billion yuan in 2009 increased from 1.5% to 2010 of 30.76 billion yuan. In addition, the Chemical Industry Division also a substantial increase in the price of chemical products, the annual sales revenue increased by 50% to 327.6 billion yuan, the annual profit growth of 8.9% to 15.04 billion yuan. Responsible Editor: NF015