Zheng Quan Shi Bao·2025-08-21 13:00Core Viewpoint - Several listed companies, including Sinopec, announced significant dividend distributions amidst challenging market conditions, with Sinopec reporting a notable decline in revenue and profit for the first half of 2025 [1][3]. Financial Performance - Sinopec's revenue for the first half of 2025 was RMB 1.41 trillion, a decrease of 10.6% year-on-year [2]. - The net profit attributable to shareholders was RMB 21.48 billion, down 39.8% compared to the same period last year [2]. - The company's cash flow from operating activities was RMB 61.02 billion, an increase of 44.4% year-on-year [2]. Production and Operations - Sinopec's oil and gas equivalent production reached 262.81 million barrels, a year-on-year increase of 2.0% [2]. - The company processed 11.997 million tons of crude oil and produced 7.14 million tons of refined oil during the first half of 2025 [2]. Dividend Distribution - Sinopec plans to distribute a cash dividend of RMB 0.088 per share, totaling approximately RMB 10.67 billion, with a cash dividend payout ratio of 49.7% [3]. - Other companies, such as Dong'e Ejiao and Baichu Electronics, also announced their dividend plans, with Dong'e Ejiao's total cash dividend expected to be RMB 8.17 billion, exceeding its net profit for the period [6]. Capital Expenditure - Sinopec announced a 5% reduction in its annual capital expenditure plan, focusing on optimizing resource allocation and project implementation [4]. - The capital expenditure for exploration and development will primarily support oil and gas production capacity construction [4]. Share Buyback Plan - Sinopec intends to use between RMB 5 billion and RMB 10 billion for a share buyback program, with a maximum repurchase price of RMB 8.72 per share [5].