Sinopec Shares Jump Nearly 4% in Morning Trading as First Three Quarters Profit Attributable to Parent Grows 30% Year-on-Year, Refining and Chemical Product Spreads Improve

Stock News10-30

According to Zhitong Finance APP, SINOPEC CORP (00386) rose nearly 4% in morning trading, up 3.82% as of press time to HK$4.755, with a turnover of HK$410 million.

On the news front, on October 29, Sinopec released its results for the first three quarters of 2026. Under Chinese Accounting Standards for Business Enterprises, operating revenue was approximately RMB 2,206.296 billion, up 4.4% year-on-year; net profit attributable to shareholders of the listed company was RMB 38.988 billion, up 30% year-on-year; basic earnings per share were RMB 0.323.

Under International Financial Reporting Standards, the company's profit attributable to shareholders for the first three quarters was RMB 40.167 billion, up 25.3% year-on-year, of which the third quarter was RMB 13.600 billion, up 63.6% year-on-year.

The announcement stated that the profit growth was mainly driven by improved refining and chemical product spreads, the company's efforts to increase production of high value-added products such as aviation kerosene and refining by-products, as well as inventory gains brought by rising crude oil prices.

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