On the evening of August 26, 2025, China National Petroleum Corporation released its semi annual report, which showed that the company's operating revenue in the first half of the year decreased by 6.7% year-on-year to 1.45 trillion yuan, and its net profit attributable to shareholders decreased by 5.4% year-on-year to 84.01 billion yuan. This is the first time in nearly five years that the company has experienced a double decline in revenue and net profit. The decline in performance is mainly due to the loose supply and demand in the global oil market, which has led to a decrease in crude oil prices (the average spot price of Brent crude oil in the first half of the year fell by 14.5% year-on-year, and the company achieved an average synchronous decrease in crude oil prices by 14.5%), the suppression of domestic sales of oil and gas products such as gasoline and diesel under the acceleration of competition in alternative energy (half of the eight major products sold to the outside world have experienced a decline in sales), and the decline in prices of major chemical products driven by the decline in international oil prices (the average selling price of the six major products sold to the outside world has fallen, and the average prices of crude oil and. From the perspective of segmented business, the revenue of the Oil and Gas and New Energy Division decreased by 6.3% year-on-year, while the revenue of the Refining and Chemical and New Materials Division decreased by 12.8% year-on-year. In addition, the operating profit of the Oil and Gas and New Energy, Refining and Chemical and New Materials, and Sales Divisions decreased by 6.8%, 18.9%, and 25.2% year-on-year, respectively, with only the operating profit of the Natural Gas Sales Division increasing year-on-year. Despite the pressure on performance, the board of directors of PetroChina has decided to distribute a mid year dividend of 0.22 yuan per share for 2025, with a total dividend payout of 40.26 billion yuan, continuing to maintain a historical high for the same period.