SINOPEC CORP (00386) made a total impairment provision of 16.03 billion yuan in the first half of the year.

SINOPEC CORP (00386) has issued an announcement to objectively reflect the company's financial position and operating results for the first half of 2026. In accordance with the relevant provisions of the Accounting Standards for Business Enterprises in China and based on the principle of prudence, the company conducted a detailed examination and inventory of its assets and performed impairment tests on assets showing signs of impairment. According to the tests, the company recognized an impairment provision totaling RMB 16.03 billion for the first half of 2026. In the first half of 2026, the company recognized an impairment provision totaling RMB 16.03 billion for the aforementioned matters, which will be fully included in the company's operating results for the first half of 2026, reducing the company's consolidated net profit for this period by RMB 15.658 billion (including reversals).