Editorial Summary

China Petroleum & Chemical Corporation (Sinopec Corp.) (600028.SH, 386.HK, NYSE: SNP) recorded RMB 54.9 in net profit in 2007, up 5.5 percent year-on-year, according to a company filing with the Shanghai Stock Exchange. However, Sinopec's 2006 net profit increased 28.1 percent year-on-year in 2006. Total revenue in 2007 hit RMB 1.2 trillion, up 13.5 percent from the previous year. Shares of Sinopec rose 4.25 percent to close at RMB 12.99 in Shanghai on Monday.

Bank of Beijing (601169.SH) 2007 net profit grew 56.4 percent year-on-year to RMB 3.3 billion, according to the company's annual report filed with the Shanghai Stock Exchange. The bank paid RMB 127.5 million in cash to buy 75 million shares in Hebei-based Langfang City Commercial Bank (LCCB), approximately 20 percent of LCCB's total shares, according to a company filing with the Shanghai Stock Exchange.