Annual Report 2012
Annual Report 2012
Annual Report 2012
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INCOME STATEMENT<br />
for the year ended 31 December <strong>2012</strong><br />
Note <strong>2012</strong> 2011<br />
RMB millions RMB millions<br />
Operating income 35 1,626,398 1,541,765<br />
Less: Operating costs 35 1,294,326 1,221,616<br />
Sales taxes and surcharges 36 152,014 151,600<br />
Selling and distribution expenses 33,554 33,489<br />
General and administrative expenses 55,152 53,137<br />
Financial expenses 37 9,000 6,622<br />
Exploration expenses, including dry holes 38 15,533 13,341<br />
Impairment losses 39 7,002 5,045<br />
Add: Gain from changes in fair value 40 90 1,328<br />
Investment income 41 16,826 19,210<br />
Operating profit 76,733 77,453<br />
Add: Non-operating income 42 3,945 3,029<br />
Less: Non-operating expenses 43 2,198 1,546<br />
Profit before taxation 78,480 78,936<br />
Less: Income tax expense 44 15,080 13,415<br />
Net profit 63,400 65,521<br />
Other comprehensive income 45<br />
Available-for-sale financial assets — (4)<br />
Share of other comprehensive income in associates 79 (182)<br />
Total other comprehensive income 79 (186)<br />
Total comprehensive income 63,479 65,335<br />
These financial statements have been approved by the board of directors on 22 March 2013.<br />
Fu Chengyu Wang Tianpu Wang Xinhua<br />
Chairman Vice Chairman, President Chief Financial Officer<br />
(Authorised representative)<br />
The notes on pages 80 to 133 form part of these financial statements.<br />
75<br />
CHINA PETROLEUM & CHEMICAL CORPORATION <strong>Annual</strong> <strong>Report</strong> <strong>2012</strong><br />
Financial Statements (PRC)
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