China Petroleum & Chemical Corporation Class H ( (SNPMF) ) has released its Q1 earnings. Here is a breakdown of the information China Petroleum & Chemical Corporation Class H presented to its investors.
China Petroleum & Chemical Corporation, also known as Sinopec, is a leading energy and chemical company in China, primarily engaged in the exploration, production, and marketing of oil and gas products. It operates in the oil and gas industry and is known for its extensive refining and chemical operations.
In its first quarterly report for 2025, Sinopec reported a decline in both revenue and net profit compared to the same period last year. The company faced challenges due to fluctuating crude oil prices and a decrease in demand for refined oil products, impacting its financial performance.
Key financial metrics revealed a 6.9% decrease in operating income to RMB 735,356 million, while net profit attributable to shareholders dropped by 25.4% to RMB 13,975 million. Despite these challenges, the company managed to increase its oil and gas production by 1.7% year-on-year and reported significant progress in its exploration and production segment.
Looking ahead, Sinopec remains focused on optimizing its operations and expanding its market presence. The company plans to continue its strategic investments in exploration and production, refining, and chemical segments to enhance its competitive edge in the industry.