中国石化前三季度营收与净利双降

Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) reported a decline in revenue and net profit for the first three quarters of 2025, primarily due to falling oil and gas prices [1] Financial Performance - Total revenue for the first three quarters was 2.1 trillion yuan, a year-on-year decrease of 10.7% [1] - Net profit attributable to shareholders was 29.98 billion yuan, down 32.2% year-on-year [1] - Operating cash flow net amount was 114.78 billion yuan, an increase of 13% year-on-year [1] - In Q3 alone, revenue was 704.39 billion yuan, a decline of 10.9% year-on-year, while net profit was 8.5 billion yuan, down 0.5% [1] Business Segment Performance - The chemical segment was the only loss-making sector, with an EBITDA loss of 8.22 billion yuan [2] - In exploration and development, oil and gas equivalent production reached 394.48 million barrels, a 2.2% increase year-on-year, with a profit of 38.08 billion yuan [2] - The refining segment processed 186 million tons of crude oil, producing 11 million tons of refined oil, with an EBITDA of 7 billion yuan [2] Capital Expenditure - Total capital expenditure for the first three quarters was 71.6 billion yuan, focused on capacity building and technological upgrades [3] - Capital expenditure in exploration and development was 41.6 billion yuan, while refining accounted for 10.6 billion yuan [3] - The marketing and distribution segment had a capital expenditure of 5.5 billion yuan, and the chemical segment accounted for 12.9 billion yuan [3]