China Petroleum & Chemical Corporation announced its full-year performance for 2024. According to international financial reporting standards, the company achieved revenue of 3.07 trillion yuan, and the net income attributable to shareholders was 48.94 billion yuan, with earnings per share of 0.404 yuan. During the reporting period, the Oil & Gas equivalent production reached 515.35 million barrels, and the Henry Hub Natural Gas production was 1400.4 billion cubic feet, growing by 4.7% year-on-year. The profitability of the entire natural gas industry chain reached a record high, with an onshore Oil & Gas reserve replacement rate of 144%. The company processed 0.252 billion tons of Crude Oil Product, with kerosene production increasing by 8.6% year-on-year, and PX production setting a new record. The total sales volume of refined oil reached 0.239 billion tons. Emerging industries such as charging and swapping batteries, hydrogen energy, biofuels, and CCUS are developing rapidly, with a cumulative construction of over 1,000 gas stations and over 10,000 charging stations. The company emphasizes shareholder return, expecting to distribute cash dividends of 0.286 yuan per share (tax inclusive) for the entire year, achieving an annual profit distribution ratio of 75% when combined with the repurchase amount. In addition, the company has established a Market Cap management system for the first time, treating Market Cap management as a long-term Global Strategy approach. Meanwhile, the Board of Directors reviewed and approved a new round of repurchase authorization proposals. From 2021 to 2024, the total amount of shares repurchased by the company was 8.635 billion yuan.