China Petrochemical Corporation (600028.SH) announced its 2025 annual results, with net profit attributable to the parent company of 31.809 billion yuan, a decrease of 36.8%.

CITIC Securities Finance APP News: China Petroleum & Chemical Corporation (600028.SH) released its 2025 annual report. The company’s operating revenue was 2,783.583 billion yuan, a decrease of 9.5% year-on-year. Net profit attributable to shareholders of the listed company was 31.809 billion yuan, down 36.8% year-on-year. Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 29.529 billion yuan, a decrease of 38.6% year-on-year. Basic earnings per share were 0.262 yuan.

The board of directors recommends a final cash dividend of 0.112 yuan per share.

Affected by the sharp decline in international crude oil prices and sluggish chemical market gross margins, the company’s performance declined significantly year-on-year. The company’s upstream business achieved multiple important breakthroughs in deep, unconventional, and offshore exploration. Domestic oil and gas production and natural gas full industry chain profitability reached new highs, with significant results in reserves replacement and production growth. Refining operations strengthened product structure optimization, expanded profitable processing volume, and steadily promoted low-cost “oil conversion” and high-value “oil to specialty” projects, greatly improving the profitability of refining by-products. Sales business consolidated and expanded market position, maintaining stable domestic refined oil market share, leading in the domestic market for vehicle LNG refueling and low-sulfur marine fuel, and non-oil business developed steadily. Chemical operations focused on optimization, cost control, and export expansion, with accelerated development of new materials and steady growth in product sales.

Focusing on high-end, intelligent, and green development, the company built its first 40 million-ton refining base. Projects such as Maoming Ethylene and Jiujiang Aromatics are being implemented in an orderly manner for transformation and upgrading. The company is committed to becoming a comprehensive energy service provider, maintaining the top domestic share in hydrogen refueling, building over 13,000 charging and swapping stations, accelerating the scale development of green electricity business, achieving integrated carbon electricity trading, enriching E-Jet services, and constructing new paradigms for “car ecosystem” and “home life” with energy station services.