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

Securities Daily Reporter Xiang Yantao

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 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 (including tax) 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 proposal.

In 2025, Sinopec optimized and adjusted its refining and chemical operations to respond to market changes with low costs. In refining, the company steadily promoted restructuring projects, increasing production of jet fuel, lubricants, and other marketable products. In 2025, the production of light chemicals increased 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% increase in jet fuel output. In chemicals, the company optimized raw material, equipment, and product structures, setting new records in PX production, and accelerated the development of new chemical materials such as POE. The annual ethylene production reached 15.28 million tons, and sales of chemical products totaled 87.12 million tons, a 3.6% increase year-on-year.

Regarding refined oil sales, Sinopec is fully committed to building an integrated energy service provider of “oil, gas, hydrogen, and electricity.” The company is accelerating the deployment of gas filling and charging networks, actively promoting hydrogen energy transportation development. In 2025, vehicle LNG sales increased by 74% year-on-year, charging and swapping volumes increased by 182%, and hydrogen refueling volumes 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 strategies: innovation-driven, transformation and upgrading, resource assurance, market expansion, cost leadership, and open cooperation. It is accelerating the construction of a new industrial pattern characterized by energy resources as the foundation, refining and chemicals as the two wings, and the three main sales channels of refined oil, natural gas, and chemical products, with new energy, new materials, new formats, and new tracks as growth poles. The company continues to improve a modern corporate governance system that is scientific, standardized, and efficient, 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 producers of petroleum and chemical products in China, Sinopec will directly benefit from increased sales revenue driven by rising oil prices. It is important to note that rising oil prices will also lead to increased costs, especially in refining and chemical sectors. However, Sinopec has strong upstream and downstream integration advantages, as well as rich experience in cost control and optimization. Its performance in 2026 is worth looking forward to.

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 development opportunities. 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.