Annual Report 2012

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
for the year ended 31 December 2012
21 INTEREST IN ASSOCIATES (Continued)
The Group’s principal associates, all of which are incorporated in the PRC, are as follows:
Percentage Percentage of
Form of of equity equity held by
Business Particulars of issued held by the the Company’s
Name of company structure and paid up capital Company subsidiaries Principal activities
% %
Sinopec Finance Company Limited Incorporated Registered capital 49.00 — Provision of non-banking financial services
RMB 10,000,000,000
China Aviation Oil Supply Company Limited Incorporated Registered capital — 29.00 Marketing and distribution of refined petroleum
RMB 3,800,000,000 products
Zhongtian Synergetic Energy Company Limited Incorporated Registered capital 38.75 — Manufacturing of coal-chemical products
RMB 5,403,768,480
Shanghai Chemical Industry Incorporated Registered capital — 38.26 Planning, development and operation of the
Park Development Company Limited RMB 2,372,439,000 Chemical Industry Park in Shanghai, the PRC
Shanghai Petroleum Company Limited Incorporated Registered capital 30.00 — Exploration and production of crude oil and
RMB 900,000,000 natural gas
Summarised financial information in respect of the Group’s principal associates is as follows:
2012 2011
RMB millions RMB millions
Total assets 161,095 171,072
Total liabilities (123,225) (137,375)
Net assets 37,870 33,697
The Group’s share of net assets of associates 15,283 13,512
Operating revenue 106,871 91,929
Net profit 3,470 3,559
The Group’s share of profits of associates 1,292 1,290
22 INTEREST IN JOINTLY CONTROLLED ENTITIES
The Group The Company
2012 2011 2012 2011
RMB millions RMB millions RMB millions RMB millions
Investments in jointly controlled entities, at cost — — 10,410 10,094
Share of net assets 21,388 19,992 — —
21,388 19,992 10,410 10,094
The Group’s and the Company’s principal interests in jointly controlled entities are primarily engaged in the refining and chemical operations in the
PRC as follows:
Percentage Percentage of
Form of of equity equity held by
Business Particulars of issued held by the the Company’s
Name of company structure and paid up capital Company subsidiaries Principal activities
% %
Shanghai Secco Petrochemical Incorporated Registered capital 30.00 20.00 Manufacturing and distribution of
Company Limited USD 901,440,964 petrochemical products
BASF-YPC Company Limited Incorporated Registered capital 30.00 10.00 Manufacturing and distribution of
RMB 11,505,080,000 petrochemical products
Fujian Refining and Petrochemical Incorporated Registered capital — 50.00 Manufacturing and distribution of
Company Limited RMB 13,306,000,000 petrochemical products
Sinopec SABIC Tianjin Petrochemical Incorporated Registered capital 50.00 — Manufacturing and distribution of
Company Limited RMB 6,120,000,000 petrochemical products
State Power-Sinopec (Ningxia) Incorporated Registered capital — 50.00 Manufacturing and distribution of
Energy Chemical Company Limited RMB 4,600,000,000 coal-chemical products
163
CHINA PETROLEUM & CHEMICAL CORPORATION Annual Report 2012
Financial Statements (International)