China Petroleum & Chemical Corporation, also known as Sinopec Corp., announced its financial results for the fiscal year 2024 on March 23. According to the International Financial Reporting Standards (IFRS), the company reported revenue of RMB 3.07 trillion. The profit attributable to shareholders amounted to RMB 48.94 billion, with basic earnings per share at RMB 0.404.
In terms of shareholder returns, the total annual cash dividend was set at RMB 0.286 per share, inclusive of taxes. With the addition of share repurchases throughout the year, Sinopec's total payout ratio for FY2024 reached 75%.
Looking ahead to 2025, Sinopec aims to capitalize on China's improving economic conditions by focusing on high-end, intelligent, and green development strategies to drive high-quality growth.