PETROCHINA (00857) surged more than 3%, trading at HK$24.46 by the time of writing, with a turnover of HK$65.52 million. The company recently released its Q3 2025 financial report under IFRS, showing revenue of RMB719.16 billion for the three months ended September 30, up 2.3% year-on-year. Net profit attributable to shareholders was RMB42.29 billion, down 3.9% YoY, with basic EPS at RMB0.23.

For the first nine months of 2025, revenue totaled RMB2.17 trillion, a 3.9% YoY decline, while net profit reached RMB126.29 billion, down 4.9% YoY, with basic EPS at RMB0.69.

Goldman Sachs noted PETROCHINA's Q3 EBITDA and net profit fell 5% and 4% YoY, respectively, demonstrating resilience compared to a 13% drop in Brent crude prices during the same period. EBITDA exceeded the bank's estimates by 3%, likely driven by strong upstream and natural gas sales performance. Capital expenditure for the first three quarters accounted for 65% of Goldman's full-year forecast, slightly above the historical average of 61%. Meanwhile, cash flow reached 125% of the annual projection, surpassing the 108% historical average.

CLSA highlighted PETROCHINA as its top pick among China's "Big Three" oil giants, citing superior dividend outlook and stability.