Sinopec Corp.(SH:600028) 证券时报·2025-08-21 12:35Core Viewpoint - Several listed companies announced significant cash dividends, with China Petroleum & Chemical Corporation (Sinopec) reporting a decline in revenue and profit for the first half of 2025 but maintaining a strong cash flow and proposing a substantial dividend payout [1][4]. Financial Performance Summary - Sinopec's revenue for the first half of 2025 was RMB 1.41 trillion, a decrease of 10.6% year-on-year, while net profit attributable to shareholders was RMB 21.48 billion, down 39.8% [2][3]. - The company's operating cash flow increased by 44.4% to RMB 61.02 billion compared to the previous year [3]. - The total assets rose by 2.9% to RMB 2.14 trillion, and equity attributable to shareholders increased by 0.9% to RMB 827.45 billion [3]. Production and Capital Expenditure - Sinopec's oil and gas equivalent production reached 262.81 million barrels, a 2.0% increase year-on-year, with domestic crude oil production at 126.73 million barrels and natural gas production at 736.28 billion cubic feet [2][3]. - The company plans to reduce its annual capital expenditure by approximately 5%, focusing on exploration and development projects [5]. Dividend Announcement - Sinopec proposed a cash dividend of RMB 0.088 per share, totaling approximately RMB 10.67 billion, with a cash payout ratio of 49.7% [4]. - Other companies, such as Dong'e Ejiao and Baichu Electronics, also announced their dividend plans, with Dong'e Ejiao proposing a cash dividend of RMB 12.69 per 10 shares, totaling RMB 8.17 billion, which is 117.01% of its net profit for the first half of 2025 [8]. Share Buyback Plan - Sinopec announced a share buyback plan, intending to use between RMB 5 billion and RMB 10 billion to repurchase shares at a maximum price of RMB 8.72 per share, potentially buying back approximately 57.34 million to 114.68 million shares [6].