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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
China Petroleum & Chemical
China Petroleum & Chemical (386) investor relations material
China Petroleum & Chemical Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
9M 2026 revenue reached RMB 2,206,296 million, up 4.4% YoY; EBIT rose 25.7% and IFRS profit attributable to shareholders rose 25.3%.
9M CASS net profit attributable to shareholders increased 30.0% to RMB 38.988 billion; Q3 increased 57.2% to RMB 13.361 billion.
Higher crude prices and improved refining margins contrasted with lower refined-oil and chemical demand and weaker results in chemicals..
Financial highlights
9M operating income was RMB 2,206.296 billion, up 4.4% YoY; Q3 operating income was RMB 769.735 billion, up 9.3%.
9M CASS profit before taxation was RMB 57.222 billion, up 39.4%; Q3 was RMB 20.578 billion, up 67.6%.
9M IFRS profit attributable to shareholders rose 25.3% to RMB 40.167 billion; Q3 rose 63.6% to RMB 13.600 billion. Financial statements were unaudited.
9M net profit attributable to shareholders excluding extraordinary gains and losses was RMB 38.357 billion, up 25.5%; Q3 was RMB 13.084 billion, up 40.1%.
9M IFRS operating profit was RMB 58.484 billion, up 25.3%; basic EPS was RMB 0.332, up 25.8%.
Segment performance
Upstream oil and gas production rose 0.6% to 396.93 mmboe; crude output was 210.99 mmbbls, down 0.1%, and natural gas output was 1,115.21 bcf, up 1.4%. EBIT declined to RMB 38.085 billion from RMB 42.612 billion.
Upstream realized crude price rose to $81.9/bbl from $66.4/bbl; lifting cost increased to RMB 738.5/tonne from RMB 727.3/tonne.
Refinery throughput fell 10.2% to 167.37 million tonnes; refining margin increased to $9.9/bbl from $6.1/bbl and EBIT rose to RMB 30.099 billion from RMB 7.000 billion.
Refined-oil sales volume fell 11.4% to 151.91 million tonnes; marketing EBIT was RMB 11.163 billion versus RMB 12.784 billion. Automotive LNG sales rose 28.7% to 6.86 million tonnes, with charging and hydrogen refueling volumes also growing YoY.
Chemicals EBIT loss widened to RMB 8.223 billion from RMB 1.690 billion; ethylene production fell 19.0% to 9,391 thousand tonnes and synthetic resin production fell 19.9% to 13,382 thousand tonnes.
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Latest events from China Petroleum & Chemical
- Net profit rose 11.9% year-over-year, driven by E&P and refining gains and a 49.5% dividend payout.386
Q2 2026 - Net profit surged over 28% year-over-year, offsetting lower revenue with strong refining margins.386Q1 2026
- Revenue and profit fell, but cash flow and dividends remained robust amid volatile markets.386Q4 2025
- Net profit plunged as low crude prices hit upstream and refining, but marketing and chemicals stayed profitable.386Q1 2015
- Revenue and profit fell sharply, but cash flow, dividends, and liquidity remained strong.386Q2 2025
- Q3 net profit plunged 52% year-over-year as oil prices and chemical margins weakened.386Q3 2024
- Net profit rose 2.6% to RMB37.1B on stable revenue and strong cash flow in H1 2024.386Q2 2024
- Net profit and revenue fell on lower oil prices and weak margins, despite improved cash flow.386Q1 2025
- Profit fell 16% to RMB48.9B, but cost cuts and a 75% payout ratio were maintained.386Q4 2024
Next China Petroleum & Chemical earnings date
Q4 202623 Mar, 2027
China Petroleum & Chemical
Next China Petroleum & Chemical earnings date
Q4 202623 Mar, 2027
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Frequently asked questions
China Petroleum & Chemical Corporation, also known as Sinopec Corp, is a major entity in the energy and chemical sectors based in China. It is engaged in a broad range of activities, encompassing the exploration and development of oil fields, refining of crude oil, and the manufacturing and sales of petrochemical products. The company operates across several segments, notably Exploration and Development, Refining, Marketing and Distribution, Chemical, and Corporate and Others. Its operations include oil depots and service stations across China, selling refined oil products through both wholesale and retail networks. Additionally, Sinopec Corp is involved in petrochemical manufacturing, offering products like ethylene, resin, polymer, urea, among others. With a significant presence in the refining and distribution of oil products, it also engages in the exploration and production of crude oil and natural gas. The company is headquartered in Beijing, China, and its shares are listed on the Stock Exchange of Hong Kong.