Xin Lang Cai Jing·2025-09-04 07:37Core Viewpoint - China Petroleum & Chemical Corporation (00857) is experiencing a decline in revenue and net profit for the first half of 2025, attributed to business structure optimization and a shift towards renewable energy [1] Financial Performance - The company achieved an operating revenue of 1.5 trillion yuan, a year-on-year decrease of 6.7% [1] - Gross profit stood at 117.5 billion yuan, while net profit attributable to shareholders was 84.01 billion yuan, reflecting a year-on-year decline of 5.4% [1] Operational Changes - The company is implementing a strategy of reducing oil production while increasing chemical output, leading to record high production levels in both oil and renewable energy [1] - Crude oil production reached 476 million barrels, showing a year-on-year increase of 0.3% [1] - Marketable natural gas production was 26.8 trillion cubic feet, indicating a robust operational performance [1] Future Outlook - The company is expected to benefit from the elasticity of natural gas, which will help mitigate the impact of oil price fluctuations, leading to improved operational conditions [1] - Revenue projections for 2025-2027 are estimated at 2.8732 trillion yuan, 2.88 trillion yuan, and 2.9366 trillion yuan respectively [1] - Net profit forecasts for the same period are also anticipated to show gradual improvement [1]