Home / Knowledge / News / Textiles / Sinopec ethylene output up 15.9% in 2006

Sinopec ethylene output up 15.9% in 2006

Apr '07
China Petroleum & Chemical Corporation (Sinopec Corp) announced its annual results for the twelve months ended 31 December, 2006.

Under PRC accounting rules and regulations, the Company's income from principal operations was RMB 1,044.58 billion (US$131.21 billion) in 2006, an increase of 30.72%. Net profit was RMB 50.66 billion (US$6.36 billion), up 28.08% compared with the same period of 2005.

Under International Financial Reporting Standards (IFRS), the Company's turnover with other operating revenues and income, was RMB 1,076.40 billion (US$135.21 billion) in 2006, an increase of 29.27% compared to 2005. Profit attributable to shareholders was RMB 53.91 billion (US$6.77 billion), an increase of 30.05% compared to last year.

The Board of Directors proposed a dividend of RMB 0.15 per share for the full year of 2006, which is equivalent to RMB 15 (US$1.88) per American Depositary Share (ADR). After deducting the interim dividend of RMB0.04 that has been paid, the final dividend for 2006 is RMB 0.11 per share.

“In 2006, following the guidelines of 'reform, restructuring, innovation and development,' the Company further expanded its operations, improved asset quality, enhanced its profitability and achieved significant growth and earnings. ” commented Mr. Chen Tong Hai, Chairman of Sinopec Corp.

“We are particularly pleased with our success in Exploration and Production. Following a number of years of diligent efforts and through the application of cutting edge technologies in marine facies exploration, we discovered a significant natural gas field in Northeast Sichuan. This will help build our base of reserves over time and set a foundation for the Company's future growth."

Must ReadView All

Pic: Shutterstock

Textiles | On 17th Sep 2021

UK again delays post-Brexit import trade controls

The United Kingdom has again delayed the implementation of some...

Pic: Shutterstock

Retail | On 17th Sep 2021

American retailers oppose business tax rate increases

The National Retail Federation (NRF) has opposed the proposed...

Pic: Shutterstock

Apparel/Garments | On 17th Sep 2021

Bangladesh looking to boost man-made fibre apparel exports: TexPro

Bangladesh is looking to focus on the man-made fibre apparel market...

Interviews View All

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Shaan Sethi, Jaanuu

Shaan Sethi

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

Sunita Shanker, Label Sunita Shanker

Sunita Shanker
Label Sunita Shanker

Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search