Annual Report 2012

Connected Transactions
CONNECTED TRANSACTIONS (CONTINUED)
In 2011, Sinopec Corp. provided RMB 2 billion of entrusted loan to its subsidiary Zhanjiang Dongxing Petrochemical Co., Ltd. The loan had been
repaid in the reporting period.
In 2012, Sinopec Corp. provided RMB 2,359 million of loans to certain jointly controlled entities of China Petrochemical Corporation.
None of the amount of each of the above continuing connected transactions between the Company and its controlling shareholder, China
Petrochemical Corporation, exceeds the disclosed maximum aggregate annual value (“cap”) for the continuing connected transactions approved by
the general meeting of shareholders and the Board of Directors.
Purchases/receiving services Unit: RMB millions
Amount incurred during Amount incurred during
the current year the previous year
Percentage
Percentage
of the total
of the total
amount of the
amount of the
type of
type of
Connected party Connected transaction Amount transaction (%) Amount transaction (%)
China Petrochemical
Purchases of goods and services from
Corporation
connected parties 132,204 4.92 147,829 6.16
Other related parties Purchases of goods and services from
related parties 70,585 2.63 56,512 2.36
Total 202,789 7.55 204,341 8.52
Sales/provision of services Unit: RMB millions
Amount incurred during Amount incurred during
the current year the previous year
Percentage
Percentage
of the total
of the total
amount of the
amount of the
type of
type of
Connected party Connected transaction Amount transaction (%) Amount transaction (%)
China Petrochemical
Corporation
38
Annual Report 2012 CHINA PETROLEUM & CHEMICAL CORPORATION
Sales of goods and provision of services to
connected parties 84,019 3.02 83,081 3.32
Other related parties Sales of goods and provision of
services to related parties 230,054 8.26 218,400 8.72
Total 314,073 11.28 301,481 12.04
Notes Pinciple of pricing for connected transations : (a) government-prescribed price; (b) where there is no goverment-prescribed price but where there is
government-guidence price, the government-guidance price will apply; (c) where there is neither a governmentprescribed
price nor a government-guidance price, the market price will apply; or (d) where none of the above
is applicable, the price is to be agreed between the relevant parties for the provision of the above products or
service, which shall be the reasonable cost incurred in providing the same plus 6% or less of such cost.
Other related parties : as defined under ASBE and IFRS, but neither under Chapter 14A of the Hong Kong Listing Rules nor under the
Shanghai Listing Rules.