CNCEC(SH:601117) Chang Jiang Shang Bao·2025-08-26 23:34Core Insights - China Chemical (601117.SH) maintains a strong position in the oil and chemical engineering sector, reporting a slight decline in revenue but an increase in net profit for the first half of 2025 [1][2]. Financial Performance - For the first half of 2025, the company achieved operating revenue of 904.22 billion yuan, a year-on-year decrease of 0.21% [2]. - The net profit attributable to shareholders was 31.02 billion yuan, reflecting a year-on-year increase of 9.26% [2]. - The net profit, excluding the impact of share payments, was 33.98 billion yuan, up 7.85% year-on-year [2]. - The company plans to distribute a cash dividend of 1 yuan per 10 shares, totaling 6.11 billion yuan, which represents 19.69% of the net profit for the period [1][6]. Business Segments - The chemical engineering segment generated 748.12 billion yuan in revenue, a 1.21% increase year-on-year, accounting for 83.06% of total revenue [1][2]. - New contracts signed in the chemical engineering sector exceeded 160 billion yuan for the first time in the first half of 2025, marking a 6.48% increase [1][2]. - The company signed a total of 2060.92 billion yuan in new contracts, with domestic contracts accounting for 79.87% and international contracts 20.13% [2][3]. Research and Development - China Chemical invested 27.17 billion yuan in R&D, a 14.19% increase year-on-year, showcasing its commitment to innovation [1][5]. - The company holds 5730 authorized patents and has developed key technologies in various fields, including traditional chemicals and green technologies [5]. International Operations - The company reported a 28.75% increase in revenue from overseas projects, totaling 265.99 billion yuan [6]. - China Chemical has a significant global presence, operating in over 80 countries and regions, with a total contract amount exceeding 100 billion USD in Belt and Road countries [5]. Shareholder Returns - The company has consistently implemented dividend distributions, with a total cash dividend of 11.36 billion yuan for the 2024 fiscal year, a 4.51% increase year-on-year [6][7]. - Over the past three years, the total cash dividends amounted to 33.04 billion yuan, representing 59.96% of the average net profit during that period [6].