SNP.L Regulatory News (SNP)

29 Aug 2006 07:00

China Petroleum & Chemical Corp28 August 2006 (a joint stock limited company incorporated in the People's Republic of China with limited liability) (Stock Code: 0386) Announcement of the 2006 Interim Results 1 Important Notice 1.1 The Board of Directors of China Petroleum & Chemical Corporation ("Sinopec Corp.") and the Directors warrant that there are no materialomissions, or misrepresentations or misleading statements contained in thisannouncement and severally and jointly accept full responsibility for theauthenticity, accuracy and completeness of the information contained in thisannouncement. This announcement is a summary of the interim report. The entire reportis also contained in the website of the Shanghai Stock Exchange (www.sse.com.cn)and Sinopec Corp. (www.sinopec.com). The investors should read the interimreport for more details. 1.2 No Director has any doubt as to, or the inability to warrant, thetruthfulness, accuracy and completeness of the interim report. 1.3 Messrs. Yao Zhongmin and Fan Yifei, Directors of Sinopec Corp., could notattend the third meeting of the third session of the Board for reasons ofofficial duties. Mr. Yao Zhongmin, Director of Sinopec Corp., authorised Mr.Chen Tonghai, Chairman of Sinopec Corp., Mr. Fan Yifei, Director of SinopecCorp., authorised Mr. Wang Tianpu, Director of Sinopec Corp., to vote on theirbehalf in respect of the resolutions put forward in the meeting of the Board. 1.4 The financial statements for the six-month period ended 30 June 2006 ofSinopec Corp. and its subsidiaries ("the Company") prepared inaccordance with the PRC Accounting Rules and Regulations and InternationalFinancial Reporting Standards ("IFRS") have been audited by KPMGHuazhen and KPMG, respectively, and both firms have issued standard unqualifiedopinions on the financial statements. 1.5 Mr. Chen Tonghai (Chairman of the Board), Mr. Wang Tianpu (President),Mr. Dai Houliang (Director, Senior Vice President and Chief Financial Officer)and Mr. Liu Yun (Head of the Accounting Department) warrant the authenticity andcompleteness of the financial statements contained in this announcement. 2 Basic Information of Sinopec Corp. 2.1 Basic Information of Sinopec Corp. SINOPEC SINOPEC SINOPEC Stock name CORP CORP CORP Stock code 0386 SNP SNP 600028 Place of listing Hong Kong New York Stock London Stock Shanghai Stock Stock Exchange Exchange Exchange Exchange Authorized Secretary to Representative the Representatives Board of on Securities Directors Matters Name Mr. Wang Mr. Chen Ge Mr. Chen Ge Mr. Huang Tianpu Wensheng Address 6A Huixindong Street, Chaoyang District, Beijing, PRC Tel 64990060 64990060 64990060 64990060 Fax 64990022 64990022 64990022 64990022 E-mail ir@sinopec.com/media@sinopec.com 2.2 Principal accounting data and financial indicators 2.2.1 Principal accounting data and financial indicators for the first half of2006 prepared in accordance with the PRC Accounting Rules and Regulations 2.2.1.1 Principal accounting data and financial indicators At 30 At 31 Changes June December from the 2006 2005 end of last year Items RMB RMB (%) millions millions Current assets 161,351 141,896 13.71 Current liabilities 211,744 167,792 26.19 Total assets 568,888 520,572 9.28 Shareholders' funds (excluding minority interests) 228,510 215,623 5.98 Net assets per share (RMB/share) (Fully diluted) 2.636 2.487 5.98 Adjusted net assets per share (RMB/share) 2.570 2.426 5.94 Changes over the Six-month same periods period ended 30 of June the 2006 2005 preceding year Items RMB RMB (%) millions millions Net profit 20,679 18,044 14.60 Net profit before extraordinary gains and losses 20,776 18,087 14.87 Return on net assets (%) 9.05 9.13 (0.08) (Fully diluted) percentage point Return on net assets (%) 9.20 9.29 (0.09) (Weighted average) percentage point Earnings per share (RMB/share) (Fully diluted) 0.239 0.208 14.60 Earnings per share (RMB/share) (Weighted average) 0.239 0.208 14.60 Net cash flow from operating activities 25,166 25,044 0.49 2.2.1.2 Items and amounts under extraordinary gains and losses (X) applicable inapplicable Six-month period ended 30 June 2006 (Income)/ExpenseItems RMB millions Gain on disposal of long-term equity investments (24 )Written back of provisions for impairment losses in previous years (339 )Non-operating expenses:(excluding impairment losses on assets provided in accordance with the Accounting Regulations for Business Enterprises) 640Of which: Loss on disposal of fixed assets 43 Employee reduction expenses 48 Donations 40Non-operating income (132 )Tax effect (48 )Total 97 To view the full text of this press release, paste the following link into your web browser: http://www.rns-pdf.londonstockexchange.com/rns/1546i_-2006-8-29.pdf This information is provided by RNS The company news service from the London Stock Exchange