China Petroleum & Chemical Corp Class A

600028: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Sinopec Earnings: Impairment Charges Weigh on Results; Capital Expenditure Reduced

Chokwai Lee

Mar 23, 2026

Sinopec’s 2025 net profit fell 34% to CNY 32.5 billion, driven by lower oil prices, weak downstream demand, and impairment losses. The CNY 0.20 dividend per share implies a payout ratio of about 75%.

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China Petroleum & Chemical Corp Class A

Sinopec Earnings: Impairment Charges Weigh on Results; Capital Expenditure Reduced

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