Sinopec earnings date and guidance
Sinopec's next results are expected on October 29, 2026. Sinopec's key watch is whether expansion becomes productive growth rather than simply more capacity.
What has Sinopec guided for 2026?
For July through December 2026, Sinopec targeted domestic refined-product sales of 77.68 million tonnes, below the 79.00 million tonnes sold in the first half. Management therefore does not need a second-half rebound to meet its plan.
| Period | Low | High | Given on | |
|---|---|---|---|---|
| Crude oil production (million barrels) | 6 months to Dec 2026 | 141.83 | 141.83 | 23 Aug 2026 |
| Natural gas production (billion cubic feet) | 6 months to Dec 2026 | 746.257 | 746.257 | 23 Aug 2026 |
| Crude oil processing (million tonnes) | 6 months to Dec 2026 | 113 | 113 | 23 Aug 2026 |
| Domestic refined oil product sales (million tonnes) | 6 months to Dec 2026 | 77.68 | 77.68 | 23 Aug 2026 |
| Ethylene production (million tonnes) | 6 months to Dec 2026 | 6.8 | 6.8 | 23 Aug 2026 |
| Capex, full year (RMB millions) | Year to Dec 2026 | 131,600 | 148,600 | 22 Mar 2026 |
What this means. The 65 percent dividend target is not guaranteed: it applies only if the parent company is profitable and has enough saved earnings and cash, with the payout based on the lower profit figure under either accounting rule.
What do Sinopec's last eight reported periods show?
Revenue was RMB729,866 million, above RMB673,696 million a year earlier. Operating income fell from RMB12,528 million to RMB11,479 million. Net income also fell, from RMB9,777 million to RMB8,828 million. Higher sales therefore did not yet produce higher profit.
June-quarter free cash flow reached RMB27,900 million. March-quarter free cash flow was negative RMB39,888 million. Together, the two quarters consumed RMB11,988 million after capital spending, leases and interest.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 729,866 | 706,695 | 670,142 | 704,389 | 673,696 | 735,356 | 708,021 | 790,410 |
| Operating income | 11,479 | 25,731 | 1,917 | 13,268 | 12,528 | 20,895 | 7,095 | 12,570 |
| Net income | 8,828 | 17,739 | 411 | 8,313 | 9,777 | 13,975 | 3,829 | 8,031 |
| EPS, diluted | 0.07 | 0.15 | 0.00 | 0.07 | 0.08 | 0.12 | 0.03 | 0.07 |
| = Free cash flow | 27,900 | -39,888 | -3,978 | 10,602 | 20,022 | -24,397 | -9,892 | 21,865 |
What this means. The free cash flow numbers also subtract lease and interest payments, so they are lower than cash from operations minus capital spending alone.
What should investors watch in Sinopec's next results?
The central test is whether Sinopec’s expansion is becoming productive growth rather than simply more capacity, more related-party permissions and more dependence on refinancing.