Sou Hu Cai Jing·2025-08-22 05:58Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) reported strong financial performance for the first half of 2025, with significant revenue and profit growth, alongside a commitment to shareholder returns through dividends and share buybacks [1][3]. Financial Performance - The company achieved a revenue of 1.4 trillion yuan and a net profit attributable to shareholders of 23.75 billion yuan in the first half of 2025 [1]. - A cash dividend of 0.088 yuan per share was declared, resulting in a dividend payout ratio of 49.7% based on Chinese accounting standards [1]. Shareholder Actions - The board approved a new share buyback plan, with all repurchased shares to be canceled [1]. - The controlling shareholder, Sinopec Group, initiated a significant share buyback plan of 3 billion yuan, acquiring approximately 330 million shares in the first half of the year, with an investment of nearly 1.3 billion yuan [1]. Business Segment Performance - In the upstream segment, Sinopec achieved a record domestic oil and gas equivalent production of 262.81 million barrels, a 2.0% increase year-on-year, with domestic crude oil production at 126.73 million barrels and natural gas production at 736.28 billion cubic feet, up 5.1% [3]. - In refining, the company processed 120 million tons of crude oil and produced 71.4 million tons of refined products, with a 11.5% increase in chemical light oil production [3]. Strategic Initiatives - Sinopec is enhancing its integrated energy service model, focusing on the development of a comprehensive energy service platform that includes oil, gas, hydrogen, and electricity [4]. - The company is prioritizing transformation and upgrading, emphasizing high-end, intelligent, and green development, while also expanding its marketing network to improve brand competitiveness and influence [4].