What other non-oil businesses has Sinopec been testing the waters in?

Sinopec has been testing the waters in non-oil businesses, not only launching EasyJet Coffee to enter the coffee market, but also auto insurance, auto services, aquaculture, liquor and other fields, each cross-border has attracted widespread attention.

For example, in September 2019, Sinopec EasyJet released its new private brand "EasyJet Coffee". In order to fit the scene at gas stations, "Easy Coffee" launched three series of products in one go: 92# (black and white coffee), 95# (fashionable special drink), and 98# (boutique series).

In February last year, SINOPEC's subsidiary Beijing Petroleum expanded its "One Click to Car" service and launched the "Buy Vegetables with Peace of Mind" service, which utilizes the convenience of a large number of gas station outlets and fast supply channels to provide Beijing consumers with The service provides Beijing consumers with safe, hygienic, convenient and favorable fresh vegetables.

Additionally, according to a sustainability progress report released by Sinopec in March 2020, the company is promoting its fast food program and car wash business.

On Jan. 17, 2021, Sinopec's Guangxi Petroleum Branch held a conference to officially launch Sinopec's own brand of snail meal, "Easy Sister."

Extended information

SINOPEC's non-oil business performance

For Sinopec, the importance of its non-oil business is becoming more and more prominent. The financial report shows that in the first half of 2019, Sinopec realized an operating income of 1.5 trillion yuan and a net profit of 31.338 billion yuan, of which the non-oil business income was 16.7 billion yuan and profit was 1.9 billion yuan. The non-oil business accounted for only 1.11% of Sinopec's overall revenue, but contributed more than 6% of the profit.

And in the first half of 2020, Sinopec realized an operating income of 1.03 trillion yuan and a net loss attributable to its parent company of 22.88 billion yuan. However, Sinopec's non-oil business revenue was 16.6 billion yuan, and non-oil business profit was 2 billion yuan, an increase of 100 million yuan year-on-year.