China Petroleum&Chemical Corporation’s Net Profit Dropped 19% in First Half of 2023

China Petroleum&Chemical Corporation (中国石油化工股份有限公司) (600028.SH) reported a net profit of 40.5 billion yuan in the first half of 2023, down 19% year-on-year.

Meanwhile, the company posted 1.6 trillion yuan in revenue, down 1.1% year-on-year.

At the end of the reporting period, it had 2 trillion yuan in total assets and 1.1 trillion yuan in total liabilities, with a liability-to-asset ratio of 53.2%.