Performance | China Petrochemical Lost Over 33% in Earnings Last Year

Sinopec (00386) announced that, according to International Financial Reporting Standards, the net profit attributable to shareholders for the year ending December 2025 is 32.476 billion yuan (RMB), a decrease of 33.64% year-on-year. Basic earnings per share are 0.268 yuan, with a final dividend of 0.112 yuan, and total cash dividends for the year amount to 0.2 yuan.

During the period, operating revenue was 2.78 trillion yuan, a decrease of 9.46% year-on-year, mainly due to fluctuations in international crude oil prices, increased substitution by new energy sources, and continued release of chemical capacity. Operating profit was 48.608 billion yuan, down 31.23% year-on-year.

Last year, oil and gas production reached 525 million barrels of oil equivalent, an increase of 1.9% year-on-year, including 256 million barrels of crude oil domestically. Natural gas production was 1.46 trillion cubic feet, up 4%. The annual crude oil processing volume was 250 million tons, with 44.22 million tons of light chemical products produced, an increase of 8.4%. Finished oil production was 149 million tons, with jet fuel production increasing by 7.3%.

The group stated that looking ahead to 2026, China’s economy is expected to remain stable and improve, with domestic demand for natural gas and chemical products expected to continue growing. Demand for refined oil will still be affected by alternative energy sources. Considering global supply and demand changes, geopolitical factors, and inventory levels, the uncertainty of international oil prices is expected to increase. The annual plan includes producing 281 million barrels of crude oil, including 25.31 million barrels abroad; producing 1.47 trillion cubic feet of natural gas; processing 250 million tons of crude oil, and producing 148 million tons of refined oil.