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Analysts attributed the good performance to the stimulus plan and some policies of China amid the world's economic recession and the global high oil prices. Base earnings per share (EPS) stood at CNY 0.191.
In the first nine months of this year, the Beijing-located oil giant reaped net profit of CNY 49.714 billion, skyrocketing 230.3% year on year. EPS reached up to CNY 0.57. Its operating cost amounted to CNY 667.1 billion, stepping down 36.86%.
As the largest oil refiner nationwide, Sinopec benefited a lot from the improvement of the domestic refined oil pricing mechanism. From January to September, the domestic refined oil prices were adjusted for seven times, and five of the adjustments were upward.
As of September 30, its total assets had gone up 10.5% from a year earlier to CNY 843.734 billion.
Source: www.163.com (October 30, 2009)
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