China Petrochemical Corporation achieved net profit attributable to parent company of 31.809 billion yuan in 2025

Staff Reporter Yan Tao

On March 22, China Petroleum & Chemical Corporation (hereinafter referred to as “Sinopec”) released its 2025 annual report. The report shows that, according to Chinese accounting standards, the company achieved an operating revenue of 2.78 trillion yuan for the year, with a net profit attributable to shareholders of the parent company of 31.809 billion yuan. At the same time, the company expects to pay a cash dividend of 0.2 yuan per share (tax included) for 2025. Combined with the share repurchase amount, the annual profit distribution ratio reaches 81%. Additionally, the board of directors reviewed and approved a new round of share repurchase authorization.

In 2025, Sinopec will optimize and adjust its refining and chemical operations to respond to market changes with low costs. In refining, the company will steadily promote restructuring projects, increasing production of jet fuel, lubricants, and other marketable products. In 2025, the production of chemical light oil will increase by 8.4% year-on-year, with a total crude oil processing volume of 250 million tons and a finished oil production of 149 million tons, including a 7.3% year-on-year increase in jet fuel. In chemicals, the company will optimize raw materials, equipment, and product structures, setting a new record in PX production, and accelerate the development of new chemical materials such as POE. The total ethylene production will reach 15.28 million tons, and sales of chemical products will amount to 87.12 million tons, up 3.6% year-on-year.

Regarding refined oil sales, Sinopec is fully committed to building an integrated energy service provider of “oil, gas, hydrogen, electricity, and services.” The company is accelerating the deployment of gas refueling and electric vehicle charging networks, actively promoting hydrogen energy transportation development. In 2025, sales of LNG for vehicles increased by 74% year-on-year, charging and swapping volumes increased by 182%, and hydrogen refueling volume saw significant growth. LNG refueling and hydrogen business remain leading nationwide. The total sales of refined oil for the year reached 229 million tons.

Chairman Hou Qijun of Sinopec stated that the company is implementing six strategic initiatives: innovation-driven development, transformation and upgrading, resource assurance, market expansion, cost leadership, and open cooperation. It is accelerating the construction of a new industrial pattern characterized by “one foundation, two wings, three chains, and four new”—with energy resources as the foundation, refining and chemicals as the two wings, finished oil, natural gas, and chemical products as the main sales chains, and new energy, new materials, new business forms, and new tracks as growth poles. The company is continuously improving a scientific, standardized, and efficient modern corporate governance system, striving to build a world-leading modern energy and chemical enterprise.

Yu Fenghui, senior researcher at Pangu Think Tank (Beijing) Information Consulting Co., Ltd., told Securities Daily that as one of the largest domestic producers of oil and chemical products, Sinopec will directly benefit from increased sales revenue driven by rising oil prices. It is important to note that higher oil prices will also lead to increased costs, especially in refining and chemical sectors. However, Sinopec’s strong upstream and downstream integration advantages, along with rich experience in cost control and optimization, make its performance in 2026 worth期待.

Yu Fenghui further stated that as the global economy gradually shifts toward green and low-carbon development, traditional energy companies face significant challenges but also new opportunities for growth. By increasing investment in new materials and high-end chemicals, Sinopec can not only reduce dependence on traditional oil businesses but also enhance product added value.