DJ Sinopec Announces 2023 Interim Results EQS Newswire / 27/08/2023 / 20:17 UTC+8 Press release (For immediate release) Sinopec Achieves Solid Operating Results in the First Half of
EQS Newswire / 27/08/2023 / 20:17 UTC+8 Press release Sinopec Achieves Solid Operating Results in the First Half of 2023 Maintain Relatively High Dividend Payout Level Board Approves Share Repurchase Plan China Petroleum & Chemical Corporation today announced its interim results for the six months ended 30 June 2023. Financial Highlights -- In accordance with IFRS, the Company's turnover and other operating revenues in the first half of 2023 were RMB1.59 trillion.
In the first half of 2023, the Company seized the favorable opportunity of rebounded market demand, brought our advantages of integrated business into full play and expanded the market through further enhancement in operating quality and scale. We focused on client demand and carried out targeted and differentiation marketing strategy.
In the first half of 2023, the operating revenues of this segment were RMB244.3 billion, decreased by 12.2% year-on-year. This was mainly due to weak demand for chemical products and decrease by 13.4% in terms of averaged products prices year-on-year. In the first half of 2023, the segment enhanced cost control and optimized slate of products.
In marketing and distribution, the Company will seize the opportunity of rebounding market demand, leverage our integration advantages to improve profitability and market share.
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