Annual Report 2012

Financial Statements (PRC)
CONSOLIDATED INCOME STATEMENT
for the year ended 31 December 2012
74
Annual Report 2012 CHINA PETROLEUM & CHEMICAL CORPORATION
Note 2012 2011
RMB millions RMB millions
Operating income 35 2,786,045 2,505,683
Less: Operating costs 35 2,372,235 2,093,199
Sales taxes and surcharges 36 188,483 189,949
Selling and distribution expenses 40,299 38,399
General and administrative expenses 65,590 63,083
Financial expenses 37 9,819 6,544
Exploration expenses, including dry holes 38 15,533 13,341
Impairment losses 39 7,906 5,811
Add: Gain from changes in fair value 40 206 1,423
Investment income 41 1,540 4,186
Operating profit 87,926 100,966
Add: Non-operating income 42 4,573 3,411
Less: Non-operating expenses 43 2,392 1,739
Profit before taxation 90,107 102,638
Less: Income tax expense 44 23,696 25,774
Net profit 66,411 76,864
Attributable to:
Equity shareholders of the Company 63,496 71,697
Minority interests 2,915 5,167
Basic earnings per share 56 0.731 0.827
Diluted earnings per share 56 0.704 0.795
Net profit 66,411 76,864
Other comprehensive income 45
Cash flow hedges (151) 142
Available-for-sale financial assets 26 (15)
Share of other comprehensive income of associates 80 (179)
Foreign currency translation differences (44) (676)
Total other comprehensive income (89) (728)
Total comprehensive income 66,322 76,136
Attributable to:
Equity shareholders of the Company 63,431 71,207
Minority interests 2,891 4,929
These financial statements have been approved by the board of directors on 22 March 2013.
Fu Chengyu Wang Tianpu Wang Xinhua
Chairman Vice Chairman, President Chief Financial Officer
(Authorised representative)
The notes on pages 80 to 133 form part of these financial statements.