China Petrochemical Corporation (Sinopec), China's largest oil refiner, saw its net profits decline in 2019, the company said Sunday.
Net profits attributable to shareholders stood at 57.59 billion yuan (about 8.1 billion U.S. dollars) in 2019, down 8.7 percent year on year, the company said in a report filed with the Shanghai Stock Exchange.
The total operating revenue came in at nearly 2.97 trillion yuan, up 2.6 percent year on year.
The sales revenue of refined oil products decreased, mainly dragged down by lower oil prices, said the company.
The earnings per share stood at 0.48 yuan, according to the report.
