By Ma Dongwei

Sinopec released its interim performance report for 2025 on Aug 21. The report indicated that in the first half of 2025, Sinopec′s revenue amounted to Yuan 1,409.052 billion, down 10.6% from the same period last year. Net profit attributable to parent company shareholders was 21.483 billion yuan, down 39.8% on year. Net profit attributable to parent company shareholders after deducting non-recurring gains and losses was 21.215 billion yuan, a year-on-year decrease of 40.4%. Operating income was 33.423 billion yuan, falling 34.5% from the same period last year. Sinopec attributed the decline in operating income to a volatile downward trend in international crude prices in the first half of 2025, a decline in domestic gasoline and gasoil demand, and sluggish petrochemical profit margins.

Looking ahead to the second half of 2025, Sinopec indicated that China's economy would continue to recover. Domestic demand for natural gas and petrochemical products would continue to grow, while demand for oil products would continue to be affected by alternative energy sources. Taking into account the impact of geopolitics, global supply and demand, and inventory changes, international crude prices were expected to face greater uncertainty. Sinopec would focus on operational efficiency, technological innovation, transformation and upgrading, and management reform to promote high-quality development in all areas.