CHINA PETROLEUM & CHEMICAL Business Summary

China Petroleum & Chemical Corporation (Sinopec) utilizes a vertically integrated business model to generate revenue through the exploration, production, refining, and marketing of petroleum and petrochemical products. Its operations are organized into four primary segments: Exploration and Production, Refining, Marketing and Distribution, and Chemicals. As the world’s largest oil refiner by capacity and the operator of China’s most extensive retail fuel network—comprising over 30,000 service stations—Sinopec captures significant margins from downstream sales while expanding its footprint in the "new energy" sector, particularly green hydrogen. The company competes directly with domestic peers PetroChina and CNOOC, as well as global majors like Shell and ExxonMobil. Within this competitive landscape, Sinopec holds a dominant position as Asia's leading refiner and China's primary supplier of refined oil and petrochemical products, distinguished by its massive domestic infrastructure and state-backed scale. Sinopec was established in February 2000 as a joint-stock entity by the state-owned China Petrochemical Corporation (Sinopec Group), which remains its majority shareholder with a 69.6% stake. The current leadership team is headed by Chairman Hou Qijun, a seasoned industry veteran who previously served as General Manager of rival CNPC, and President Zhao Dong, who brings extensive experience in international operations and sustainable development. The executive team is overseen by a board that includes independent directors with backgrounds in global finance and energy policy, operating under the supervision of the State-owned Assets Supervision and Administration Commission (SASAC). Despite its status as a state-owned enterprise, Sinopec maintains a robust profile among international institutional investors, with significant holdings by firms such as BlackRock and Vanguard across its Hong Kong and Shanghai listings.