Zhong Guo Jin Rong Xin Xi Wang·2025-08-26 11:53Core Viewpoint - China Petroleum and Natural Gas Corporation reported strong mid-year performance with revenue of 1.5 trillion yuan and net profit of 840.1 billion yuan, driven by proactive market strategies and innovation [1][2] Financial Performance - The company achieved a historical high in free cash flow, increasing by 11.5% year-on-year [1] - The board announced an interim dividend of 0.22 yuan per share, totaling 402.7 billion yuan, maintaining a high level compared to previous years [1] Operational Highlights - Despite a 15.1% year-on-year decline in Brent crude oil prices, the company managed to maintain stable production and operational performance [2] - Domestic oil and gas equivalent production increased by 2%, with natural gas production rising by 3.8%, both reaching historical highs [2] - In refining and chemical sectors, the company optimized product structure and maintained high operational loads for high-end products, achieving record processing volumes [2] Sales and Marketing - The company experienced a 0.3% increase in domestic refined oil sales despite a decline in overall market demand, with a significant 213% growth in charging and swapping electricity volumes [2][3] - Non-oil business profits grew by 5.5%, indicating successful diversification strategies [2] Green and Low-Carbon Transition - The company is advancing its green and low-carbon transition with a comprehensive layout of "oil, gas, heat, electricity, and hydrogen," having established a wind and solar power generation capacity of 10.24 million kilowatts [4][5] - Significant projects include large-scale photovoltaic and wind power installations, contributing to a reduction in greenhouse gas emissions [5][6] Technological Innovation - The company has made substantial progress in technology and innovation, including breakthroughs in new materials and digital transformation initiatives [7][8] - The implementation of a new version of Kunlun large model and the establishment of a smart platform have enhanced operational efficiency and decision-making capabilities [8] Future Outlook - The company aims to enhance its integrated advantages and resilience in the energy supply chain while continuing to focus on innovation and sustainable development [8]