Sinopec: Estimated net profit in the first half of 2021 will be 36.5 billion yuan to 38.5 billion yuan

On July 1, Sinopec announced its 2021 semi-annual performance forecast: The net profit attributable to shareholders of the parent company in the first half of 2021 is expected to be 36.
5 billion yuan to 38.
5 billion yuan, which will turn losses into profits compared with the same period in 2020, an increase of about 594 yuan.
From RMB 100 million to RMB 61.
4 billion, which is expected to increase by 16.
6% to 23% over the same period in 2019
.

The announcement shows that at the beginning of 2020, due to the dual impact of the new crown pneumonia epidemic and the plunge in oil prices, the global consumption of petroleum and petrochemical products has shrunk sharply, and Sinopec's production and operations have been greatly affected, and operating losses will be in the first half of 2020
.

In the first half of 2021, Sinopec’s operating performance improved significantly year-on-year and achieved better growth compared to the same period in 2019.
This is mainly due to: since this year, the global epidemic situation has improved overall, international crude oil prices have fluctuated upward, and domestic coordination of epidemic prevention and control and economic society The achievements of development continued to be consolidated, and the market demand for petroleum and petrochemical products recovered quickly
.