China Petroleum and Chemical Corporation (Sinopec) on Sunday reported a 53.6-percent year-on-year increase in net profit for the first half of 2018, mainly due to strong energy demand and higher oil prices.
Sinopec's net profit from January to June was 41.6 billion yuan (about 6.09 billion U.S. dollars), according to the company.
Its revenue rose by 11.5 percent year on year to 1.3 trillion yuan (about 190.4 billion U.S. dollars) in the first half of the year.
Sinopec shares increased 0.91 percent to close at 6.63 yuan per share on the Shanghai Stock Exchange Friday.
Sources:xinhua
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