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Sinopec Corp. announced its unaudited first quarterly results for Q1 2024, with revenue of RMB 789.967 billion and net profit of RMB 18.721 billion. The Company achieved high-quality operating results, with oil and gas production up by 3.4% and natural gas production up by 6.0% year on year. Key segments like exploration and production, refining, marketing and distribution, and chemicals showed positive performance. Sinopec's financial data reflected a strong quarter with EBIT of RMB 14.823 billion in exploration and production, RMB 6.887 billion in refining, RMB 8.678 billion in marketing and distribution, and negative EBIT of RMB -1.609 billion in chemicals. The Company's capital expenditure totaled RMB 20.5 billion, with significant investments in capacity building and project development.
