中石化2004年度报告

<DOCUMENT><TYPE>20-F<SEQUENCE>1<FILENAME>hkg120768.txt<DESCRIPTION>FORM 20-F<TEXT>UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549______________FORM 20-F(Mark One)[ ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THESECURITIES EXCHANGE ACT OF 1934OR|X| ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIESEXCHANGE ACT OF 1934FOR THE FISCAL YEAR ENDED DECEMBER 31, 2004OR[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THESECURITIES EXCHANGE ACT OF 1934FOR THE TRANSITION PERIOD FROM TOCOMMISSION FILE NUMBER 1-15138------------------------------[GRAPHIC OMITTED]CHINA PETROLEUM & CHEMICAL CORPORATION(Exact name of Registrant as specified in its charter)_______________________The People's Republic of China(Jurisdiction of incorporation or organization)_______________________A6, Huixingdong StreetChaoyang District, Beijing, 100029The People's Republic of China(Address of principal executive offices)________________________Securities registered or to be registered pursuant to Section 12 (b)of the Act.Name of Each ExchangeTitle of Each Class On Which Registered ------------------- -------------------American Depositary Shares, each representing100 H Shares of par value RMB 1.00 per share ............ New York StockExchange, Inc.H Shares of par value RMB 1.00 per share................. New York StockExchange, Inc.** Not for trading, but only in connection with the registration of AmericanDepository Shares.Securities registered or to be registered pursuant to Section 12 (g)of the Act.None(Title of Class)Securities for which there is a reporting obligation pursuant toSection 15 (d) of the Act.None(Title of Class)Indicate the number of outstanding shares of each of the issuer'sclasses of capital or common stock as of the close of the period covered bythe annual report.State-owned domestic shares, par value RMB 1.00 pershare........................................................ 67,121,951,000H Shares, par value RMB 1.00 per share......................... 16,780,488,000A Shares, par value RMB 1.00 per share......................... 2,800,000,000Indicate by check mark whether the registrant (1) has filed allreports required to be filed by Section 13 or 15 (d) or the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorterperiod that the Registrant as required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.Yes X No__---Indicate by check mark which financial statement item the Registranthas elected to follow. Item 17 ___ Item 18 X---<PAGE><TABLE>Table of ContentsPage----<CAPTION><S> <C>PART I ....................................................................................4ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS...............................4ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE.............................................4ITEM 3. KEY INFORMATION.....................................................................4A. SELECTED FINANCIAL DATA.........................................................4B. CAPITALIZATION AND INDEBTEDNESS.................................................6C. REASONS FOR THE OFFER AND USE OF PROCEEDS.......................................7D. RISK FACTORS....................................................................7ITEM 4. INFORMATION ON THE COMPANY.........................................................12A. HISTORY AND DEVELOPMENT OF THE COMPANY.........................................12B. BUSINESS OVERVIEW..............................................................13 C. ORGANIZATIONAL STRUCTURE.......................................................27D. PROPERTY, PLANT AND EQUIPMENT..................................................27ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS.......................................28A. GENERAL........................................................................28B. CONSOLIDATED RESULTS OF OPERATIONS.............................................34C. DISCUSSIONS ON RESULTS OF SEGMENT OPERATIONS...................................43D. LIQUIDITY AND CAPITAL RESOURCES................................................54ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES.........................................58A. DIRECTORS, SUPERVISORS AND SENIOR MANAGEMENT...................................58B. COMPENSATION...................................................................65C. BOARD PRACTICE.................................................................66D. EMPLOYEES......................................................................67E. SHARE OWNERSHIP................................................................67ITEM 7. MAJOR SHAREHOLDERS AND RELA