SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
The
Securities Exchange Act of 1934
For
the month of July, 2008
CHINA
PETROLEUM & CHEMICAL CORPORATION
A6,
Huixindong Street,
Chaoyang
District Beijing, 100029
People's
Republic of China
Tel:
(8610) 6499-0060
(Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.)
|
Form
20-F
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ü
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Form
40-F
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(Indicate
by check mark whether the registrant by furnishing the information contained in
this form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934. )
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Yes
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No
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ü
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(If
"Yes" is marked, indicate below the file number assigned to registrant in
connection with Rule 12g3-2(b): 82-__________. )
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N/A
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This
Form 6-K consists of:
an
announcement on profit warning in respect of the results of
the first half of 2008 of China Petroleum & Chemical Corporation (the
“Registrant”), made by the Registrant on July 17, 2008.
Document
1
(a
joint stock limited company incorporated in the People’s Republic of China with
limited liability)
(Stock
Code: 0386)
Announcement
Profit
Warning in respect of the Results of
The
First Half of 2008
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China
Petroleum & Chemical Corporation and all members of its board of
directors warrant the authenticity, accuracy and completeness of the
information contained in this announcement, and jointly and severally
accepts full responsibility for any misrepresentation, misleading
statements or material omissions contained in this
announcement.
This
announcement is made pursuant to Rule 13.09(1) of the Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong
Limited.
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I.
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Predicted
results for the period in issue
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1.
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Results
prediction period: 1 January 2008 to 30 June
2008
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2.
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Results
prediction position: according to the preliminary calculations of the
Financial Department of China Petroleum & Chemical Corporation (the
“Company”), the net profit for the first half of 2008 will decrease by
more than 50% compared to the same period of last
year.
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3.
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The
results prediction has not been audited by registered
accountants.
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II.
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Results
of the same period of previous year (in accordance with the Accounting
Standards for Business Enterprise of the People’s Republic of
China)
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1.
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Net
profit: RMB 34.925 billion
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2.
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Earnings
per share: RMB 0.403
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III.
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Reasons
for the decrease
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This
year, the international crude oil prices have been continuously climbing. Due to
the strict control over refined oil prices in the People’s Republic of China
(the “PRC”), a distortion to the correlation of the refined oil prices and crude
oil prices occurred. The Company has taken various measures to guarantee the
supply for the refined oil market in the PRC, which resulted in great losses in
the oil-refinery business and massive decline in overall performance of the
Company in the first half year.
The
specific data will be disclosed in detail in the interim report of 2008.
Investors are advised to exercise caution in dealing in the shares of the
Company.
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By
order of the Board
China Petroleum & Chemical
Corporation
Chen Ge
Secretary to the Board of
Directors
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Beijing,
PRC, 17 July 2008
As
at the date of this Announcement, the directors of the Company are Messrs. Su
Shulin*, Zhou Yuan*, Wang Tianpu#, Zhang Jianhua#, Wang Zhigang#, Dai Houliang#,
Fan Yifei*, Yao Zhongmin*, Shi Wanpeng+, Liu Zhongli+ and Li
Deshui+.
#
Executive Directors
*
Non-executive Directors
+
Independent Non-executive Directors
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
China
Petroleum & Chemical Corporation
By:
/s/ Chen
Ge
Name:
Chen Ge
Title:
Secretary to the Board of Directors
Date:
July 18, 2008