Ge Long Hui·2025-08-28 12:08Group 1 - The company reported a revenue of 1,409.05 billion yuan in H1 2025, a year-on-year decrease of 10.60%, and a net profit attributable to shareholders of 21.48 billion yuan, down 39.83% year-on-year [1] - In Q2 2025, the company achieved a revenue of 673.70 billion yuan, a year-on-year decline of 14.31%, with a net profit of 8.22 billion yuan, down 52.73% year-on-year [1] - The company's oil and gas equivalent production increased to 131.84 million barrels in Q2 2025, reflecting a year-on-year growth of 2.3% and a quarter-on-quarter increase of 0.7% [1] Group 2 - The average selling price of crude oil for the company in H1 2025 was 3,415 yuan per ton, a decrease of 12.9% year-on-year due to falling oil prices [1] - The exploration and production segment's EBIT (Earnings Before Interest and Taxes) was 11.89 billion yuan in Q2 2025, down 25.9% year-on-year and 12.8% quarter-on-quarter [1] - The company's refining segment processed 57.84 million tons of crude oil in Q2 2025, a decrease of 8.8% year-on-year, leading to a significant drop in profits [2] Group 3 - The refining segment's EBIT was 0.89 billion yuan in Q2 2025, a decline of 62.89% quarter-on-quarter due to lower product prices and reduced inventory profits [2] - The chemical segment reported an EBIT loss of 2.77 billion yuan in Q2 2025, an increase in losses of 2.24 billion yuan year-on-year and 1.45 billion yuan quarter-on-quarter [2] - The Ministry of Industry and Information Technology is expected to introduce a growth stabilization plan for the petrochemical industry, which may benefit the company by eliminating outdated production capacity [2] Group 4 - The company adjusted its profit forecast, expecting net profits of 45.97 billion yuan, 50.22 billion yuan, and 53.26 billion yuan for 2025, 2026, and 2027 respectively, with corresponding PE ratios of 15.35X, 14.05X, and 13.25X [3]