DT新材料·2025-10-29 16:05Core Viewpoint - The article highlights the ongoing challenges faced by major chemical companies, including Dow, BASF, and Sinopec, due to weak demand and price pressures, while also noting their efforts in cost management and strategic initiatives to enhance shareholder value through stock buybacks [2][4][6]. Group 1: Dow Inc. - Dow reported a net sales of approximately $10 billion for Q3 2025, a year-on-year decline of 8%, with all business segments experiencing a downturn [2]. - The packaging and specialty plastics segment, which accounts for 49% of sales, saw a revenue drop of 11% year-on-year, but EBIT increased by 179% to $199 million due to new polyethylene facilities reducing unit costs [2]. - Overall, Dow's net profit was $124 million, a turnaround from a loss, while operating EBITDA was approximately $870 million, down 37% year-on-year [3]. Group 2: BASF - BASF's Q3 2025 sales amounted to €14.3 billion, a decrease of 3% year-on-year, with price declines in chemicals, materials, and industrial solutions impacting overall performance [4]. - The EBITDA for BASF was €1.5 billion, slightly above market expectations but down €78 million year-on-year, primarily due to declines in industrial solutions and chemical sectors [5]. - BASF announced an early initiation of a €1.5 billion share buyback program, expected to start in November 2025, as part of a larger €4 billion plan [5]. Group 3: Sinopec - Sinopec reported a revenue of ¥704.39 billion for Q3 2025, a year-on-year decline of 10.9%, while the net profit attributable to shareholders was ¥83.13 billion, a 3.5% increase [6]. - The decline in revenue was attributed to fluctuating international oil prices and a 4% decrease in domestic refined oil consumption due to alternative energy sources [6]. - Sinopec's capital expenditure for new business layouts reached ¥716 billion, focusing on oil and gas production capacity and technology upgrades [8][9].