2022-03-27 16:00Financial Performance - In 2021, the total operating revenue reached RMB 2,740,884 million, an increase of 30.2% compared to 2020[5] - The net profit attributable to shareholders of the parent company was RMB 71,208 million, representing a growth of 114.0% year-on-year[6] - The net cash flow from operating activities amounted to RMB 225,174 million, up 33.6% from the previous year[6] - The basic earnings per share for 2021 was RMB 0.588, a 113.8% increase compared to 2020[8] - The weighted average return on net assets was 9.35%, up from 4.46% in the previous year[8] - Operating profit reached 94.63 billion RMB, reflecting a significant year-on-year growth of 592.3%[16] - Net profit attributable to shareholders was 71.98 billion RMB, up 115.2% compared to the previous year[16] - The company reported a significant decrease in investment income from fair value changes, dropping 87.3% to RMB 6,032 million from RMB 47,486 million in 2020[13] - The company achieved a total operating revenue of 2.74 trillion RMB, a year-on-year increase of 30.2%[16] - The company reported a net profit of RMB 85.9 billion for 2021, reflecting a year-on-year increase of 103.1%[45] Assets and Liabilities - Total assets increased by 8.6% to RMB 1,889,255 million as of December 31, 2021[7] - Total liabilities rose by 14.5% to RMB 973,214 million, indicating a significant increase in financial obligations[7] - The company reported a debt-to-asset ratio of 51.51%, reflecting a slight increase from the previous year[9] - The total assets increased to RMB 1,331,231 million in 2021 from RMB 1,283,236 million in 2020, reflecting a growth in non-current assets[15] - Total liabilities as of December 31, 2021, were RMB 974.18 billion, an increase of RMB 122.99 billion from the previous year, with current liabilities rising by RMB 118.29 billion[70] Dividends and Shareholder Returns - The company proposed a final dividend of RMB 0.31 per share, in addition to the interim dividend of RMB 0.16 per share, totaling RMB 0.47 for the year[2] - The company plans to distribute a total dividend of 0.47 RMB per share, with a payout ratio of 80%[16] Production and Operations - The company processed 255.28 million tons of crude oil in 2021, a year-on-year increase of 7.8% compared to 236.91 million tons in 2020[32] - The total number of natural gas production wells in China increased to 7,539 in 2021, up from 6,976 in 2020, representing an 8.1% growth[29] - The company’s total oil and gas equivalent production was 479.74 million barrels in 2021, representing a year-on-year increase of 4.5%[23] - Natural gas production reached 1,199.44 billion cubic feet in 2021, up 11.9% from the previous year[23] - The company signed long-term contracts for LNG and expanded its high-end natural gas market, resulting in increased sales and market share[22] Capital Expenditure and Investments - Capital expenditure for 2022 is planned at 198 billion RMB, focusing on high-quality oil and gas exploration and development[17] - The company invested a total of RMB 167.9 billion in capital expenditures in 2021, with RMB 68.1 billion allocated to exploration and development[39] - The company plans to continue optimizing its investment projects and improving the quality and efficiency of its capital expenditures in 2022[39] Research and Development - The company's research and development expenses in 2021 amounted to RMB 21.1 billion, with RMB 11.5 billion recognized as expenses and RMB 9.6 billion capitalized[77] - The company applied for 8,045 patents in 2021, receiving authorization for 4,868 patents, highlighting its commitment to technological innovation[37] Environmental and Sustainability Efforts - The company reduced greenhouse gas emissions by 2.38 million tons of CO2 equivalent in 2021, and recovered 1.52 million tons of CO2[150] - The company has implemented a green development strategy, aiming to become a world-leading clean energy and chemical company[150] Corporate Governance - The company has enhanced its corporate governance by completing board and supervisory committee renewals and improving transparency in ESG disclosures[85] - The board of directors met a total of 7 times in 2021, ensuring compliance with regulatory requirements[90] - Sinopec has implemented internal control and risk management systems, with the board responsible for reviewing their effectiveness at least annually[103] - The company emphasizes investor relations, organizing roadshows and meetings to communicate its development strategies and performance with investors[108] Related Party Transactions - The total amount of related party transactions for the year was RMB 382.445 billion, with purchases amounting to RMB 259.882 billion, accounting for 9.35% of similar transaction amounts[187] - The company signed the sixth supplementary agreement for continuous related party transactions with Sinopec Group on August 27, 2021[185] - The company’s independent directors confirmed that the related transactions are part of daily operations and conducted on normal commercial terms, ensuring fairness and reasonableness for Sinopec and its shareholders[189]