Sinopec responds to investment loss of 3.8 billion yuan: related to derivative settlement accounting performance and downstream joint venture company performance.

At the performance briefing for the first quarter of 2025, Sinopec's Chief Financial Officer Shou Donghua responded to the company's 69.9% year-on-year decline in investment income to 16.47 billion yuan and a loss of 3.825 billion yuan, stating that Sinopec's launch of commodity financial derivatives business complies with regulatory requirements for financial derivative business, coordinates with the needs of physical operations, operates in a standardized manner, and achieves the goal of stabilizing price fluctuations and preventing market risks. The company's derivative business operations in the first quarter were healthy and stable, and the profit and loss fluctuations in the hedging business in investment income are reflected in the accounting of derivative business settlements. In addition, Sinopec's joint venture companies mainly focus on downstream businesses, and the performance in the first quarter showed a slight decline year-on-year.