16:48 - 27.04.2022

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April 27, Fineko/abc.az. The net profit of Chinese petrochemical corporation Sinopec amounted to 22.6 bn yuan ($3.4 bn) in the 1st quarter of 2022 (24.5% more against Q1 of 2021).

ABC.AZ reports that from January to March company's revenue totaled 771.38 bn yuan ($117.7 bn). The indicator grew by 33.8% year-on-year. By the end of Q1, Sinopec's total assets increased by 6.6% up 2 trillion yuan ($305.3 bn). In the first 3 months of 2022 company's oil & gas production reached 121 million barrels of oil equivalent - an increase of 3.7%.

Against the background of positive corporate reporting, Sinopec’s shares rose by 1.69% to 4.22 yuan apiece by the end of trading at the Shanghai Stock Exchange on Wednesday.