Zheng Quan Shi Bao·2025-08-21 22:13Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) reported a significant decline in revenue and net profit for the first half of 2025, primarily due to falling international oil prices and weak chemical market margins [1][2] Financial Performance - The company achieved a revenue of 1.41 trillion yuan, a year-on-year decrease of 10.6% [1] - Net profit was 21.483 billion yuan, down 39.8% compared to the previous year [1] - Basic earnings per share were 0.177 yuan [1] Operational Highlights - Oil and gas equivalent production reached 262.81 million barrels, an increase of 2.0% year-on-year [1] - Domestic crude oil production was 126.73 million barrels, while natural gas production was 736.28 billion cubic feet, up 5.1% [1] - In the refining sector, the company processed 11.997 million tons of crude oil and produced 7.14 million tons of refined oil, with a 11.5% increase in chemical light oil production [1] Capital Expenditure and Shareholder Returns - Capital expenditure for the first half was 43.8 billion yuan, with 27.6 billion yuan allocated to exploration and development [2] - The company plans to reduce its annual capital expenditure by approximately 5% [2] - A cash dividend of 0.088 yuan per share is proposed, totaling 10.67 billion yuan [2] - Sinopec announced a share buyback plan with a total fund of no less than 500 million yuan and up to 1 billion yuan, aiming to repurchase approximately 57.34 million to 114.68 million shares [2] Market Reaction - On August 21, Sinopec's stock price increased by 2.45%, bringing its total market capitalization to 710.5 billion yuan [3]