China Petroleum & Chemical Corporation Class A · SSE:600028

China Petroleum & Chemical Corporation Class A — Q1 2023 Earnings Presentation

16 slides from China Petroleum & Chemical Corporation Class A's earnings presentation, Apr 28, 2023

  1. Slide 1: 1Q 2023 Results Announcement

    China Petroleum & Chemical Corporation 1Q 2023 Results Announcement April 28 2023 中国石油化工股份有限公司 S I N O P E C CORP.

  2. Slide 2: Cautionary Statement

    Cautionary Statement Financial data of the first quarter contained in the presentation and presentation materials are unaudited. This presentation and the presentation materials distributed herein include forward-looking statements. All statements, other than statements of historical facts, that add

  3. Slide 3: Market Environment in 1Q 2023

    Market Environment in 1Q 2023  China’s economy improved with gross domestic product (GDP) up by 4.5% year on year  International crude oil prices fluctuated in a wide range  Demand for refined oil products rebounded, natural gas demand increased and chemicals demand also recovered to some extent

  4. Slide 4: Achieved Good Results

    Achieved Good Results EBIT RMB million 1Q 2022 1Q 2023 YoY (%) Unit: RMB million 36,643 32,424 Revenues 771,386 791,331 2.6 EBIT 36,643 32,424 (11.5) Profit Attributable to Shareholders of the 23,533 20,740 (11.9) Company EPS (RMB) 0.194 0.173 (10.8) 1Q 2022 1Q 2023 中国石油化工股份有限公司 SINOPEC CORP. 4

  5. Slide 5: Solid Financial Position

    Solid Financial Position RMB million As of Dec. 31, 2022 As of Mar. 31, 2023 Total Assets 1,951,121 2,011,153 Short-term Interest-bearing Debts 66,329 121,647 Long-term Interest-bearing Debts 107,961 142,898 Total Equity Attributable to Shareholders 787,600 806,099 of the Company Liability-to-Asset

  6. Slide 6: Cash Flow

    Cash Flow RMB million 1Q 2022 1Q 2023 YoY (%) Net Cash Used in Operating (46,781) (18,397) - Activities Net Cash Used in Investing (38,080) (54,289) - Activities Net Cash Generated from Financing 58,780 82,285 40.0 Activities RMB million As of Dec. 31, 2022 As of Mar. 31, 2023 Change (%) Cash and Ca

  7. Slide 7: Upstream – Sound Achievements In Stabilizing Oil Production, Boosting Gas Output, and Cutting Costs

    Upstream – Sound Achievements In Stabilizing Oil Production, Boosting Gas Output, and Cutting Costs  Intensified efforts in high quality exploration, achieved a number of oil and gas discoveries  Natural gas production grew by 5.3% YoY  Optimised LNG recourses and reduced procurement cost 1Q 2022

  8. Slide 8: Upstream – Profitability Further Improved

    Upstream – Profitability Further Improved Realized Price of Crude Oil Lifting Cost USD/bbl USD/boe 18.0 89.0 15.5 75.2 1Q 2022 1Q 2023 1Q 2022 1Q 2023 Realized Price of Natural Gas E&P EBIT USD/thousand cubic feet RMB Million 13,357 8.1 8.7 11,463 1Q 2022 1Q 2023 1Q 2022 1Q 2023 Note： The average FX

  9. Slide 9: Refining – Flexible Adjustment of Business Strategy

    Refining – Flexible Adjustment of Business Strategy  Closely followed market changes and maintained high utilisation rate  Flexibly adjusted procurement strategies and reduced cost  Optimized product mix and increased exports of refined oil products mm tonnes 1Q 2022 1Q 2023 YoY (%) Refinery Thro

  10. Slide 10: Refining – Achieved Good Profitability

    Refining – Achieved Good Profitability Refining Margin EBIT of Refining USD/bbl 13.10 RMB million 8.66 22,919 1Q 2022 1Q 2023 Cash Operating Cost 10,459 USD/bbl 4.32 4.03 1Q 2022 1Q 2023 1Q 2022 1Q 2023 中国石油化工股份有限公司 SINOPEC CORP. 10

  11. Slide 11: Marketing – Gave Full Play to Integration and Network Advantages

    Marketing – Gave Full Play to Integration and Network Advantages  Strengthened resources coordination, and enhanced efforts in expanding market  Actively transformed into a comprehensive energy service provider of Petro-Gas- Hydrogen-Power-Services mm tones 1Q 2022 1Q 2023 YoY (%) Total Sales Volu

  12. Slide 12: Marketing – Solid Profitability

    Marketing – Solid Profitability Profit of Non-fuel Business EBIT of Marketing RMB million 1,404 RMB million 1,349 8,993 8,475 1Q 2022 1Q 2023 Marketing Cash Operating Cost RMB/tonne 191.16 187.80 1Q 2022 1Q 2023 1Q 2022 1Q 2023 中国石油化工股份有限公司 SINOPEC CORP. 12

  13. Slide 13: Chemicals – Strengthened Structural Adjustment

    Chemicals – Strengthened Structural Adjustment  Implemented profit-oriented optimization of feedstock, facilities, and product slate  Strengthened the combination of production, marketing, research and application, and increased R&D of high-end products and new materials ’000 tonnes 1Q 2022 1Q 202

  14. Slide 14: Chemicals – Profitability

    Chemicals – Profitability Unit All-In Cost EBIT of Chemicals RMB/tonne RMB million 1,890 1,528 1,388 (3,022) 1Q 2022 1Q 2023 1Q 2022 1Q 2023 中国石油化工股份有限公司 SINOPEC CORP. 14

  15. Slide 15: Capital Expenditure

    Capital Expenditure  Capital expenditure in the first quarter was RMB 23.4 billion RMB billion 165.8  Upstream: RMB 14.98 Bn  Mainly for capacity building of oil and gas, and LNG projects  Refining: RMB 4.22 Bn  Mainly for Zhenhai expansion project and construction of Anqing and Yangzi refinery

  16. Slide 16: Contact Information

    Contact Information Investor relations Beijing: Tel: (8610) 59960028 Fax: (8610) 59960386 Email: ir@sinopec.com Hong Kong: Fax: (852) 28243669 Email: ir.hk@sinopec.com www.sinopec.com 中国石油化工股份有限公司 SINOPEC CORP. 16

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