Sinopec Posts Solid Interim Results Amid Economic Headwinds
Sinopec, China's largest oil refiner and chemical producer, released its interim results for the first half of 2026. In a press release, the company announced that its total revenue reached RMB 1.44 trillion, up by 2% year-on-year. Profit attributable to shareholders was RMB 26.567 billion, an increase of 11.9% from the same period last year.
The company's net cash flow from operating activities for the first half of 2026 reached RMB 62.499 billion, up by 2.4% year-on-year. Sinopec distributed an interim cash dividend of RMB 0.105 per share and commenced a new round of share repurchases to safeguard corporate value and shareholders' interests.
In its business review, the company noted that China's economy maintained stable growth in the first half of 2026, with GDP increasing by 4.7% year-on-year. However, domestic demand for major chemical products was weak, with ethylene equivalent consumption declining by 9.9% year-on-year.