Hong Kong—Sinopec Kantons Holdings Limited (00934) released its audited results for the year ended 31 December 2025.
Key financials • Revenue: HK$658.64 million, down 1.27% year-on-year. • Gross profit: HK$319.25 million, down 1.38%. • Operating profit: HK$269.84 million, up 55.07%, driven by HK$13.35 million foreign-exchange gains and tighter cost control. • Finance income: HK$257.37 million, largely flat versus 2024. • Share of results – joint ventures: HK$527.62 million, down 24.19%; associates: HK$76.71 million, down 51.78%. • Profit attributable to equity holders: HK$1.03 billion, down 12.66%. • Basic EPS: 41.36 HK cents (2024: 47.36 HK cents).
Dividend The board recommends a final dividend of HK$0.15 per share, unchanged from last year. Together with the interim HK$0.10 already paid, full-year distribution remains HK$0.25 per share. The final dividend is subject to approval at the 3 June 2026 AGM and, if passed, will be paid on or about 26 June 2026 to shareholders on record as of 11 June 2026.
Segment performance • Crude-oil jetty & storage: revenue HK$658.64 million (−1.27%); segment results HK$791.19 million (−21.25%) as refinery maintenance and softer domestic demand reduced throughput. • Vessel chartering & logistics: no external revenue; segment results HK$89.84 million (−24.84%) after one-off adjustment related to LNG carrier CESI QINGDAO and higher maintenance amortisation.
Balance-sheet highlights • Cash and time deposits: HK$7.66 billion, up 10.25%. • Total assets: HK$16.86 billion; total liabilities: HK$0.35 billion, giving a liabilities-to-assets ratio of 2.05%. • The group remains debt-free; net-debt-to-capital ratio stayed negative at −1.55%. • Capital commitments outstanding: HK$6.13 million.
Operational data • Five domestic crude-oil terminals handled 152.25 million tonnes, down 14.24%. • Huade Petrochemical unloaded 14.86 million tonnes of crude (−7.32%) and 0.69 million tonnes of naphtha. • LNG fleet completed 98 voyages, transporting 1.62 million m³ of LNG (−5.44%).
Post-balance-sheet events • 12 Feb 2026: Sinomart KTS signed an exclusive-operation agreement that brings Caofeidian Shihua under consolidation. • 27 Feb 2026: Joint venture Rizhao Shihua entered liquidation, with asset sales totalling RMB2.41 billion. • Late Feb 2026: Rising Middle-East tensions are being monitored for potential effects on jetty and storage operations.
Outlook Management plans to deepen cost optimisation, expand core crude-oil infrastructure, and explore low-carbon opportunities while maintaining a conservative capital structure and robust liquidity.