China Aviation Oil (Singapore) Corporation Ltd reported net profit of US$110.64 million for the year ended 31 Dec 2025, up 41.69 percent year-on-year, boosted by a sharp rise in trading gross profit and higher earnings from associates.

Earnings per share climbed 41.05 percent to a record 12.85 US cents. The board proposed a final one-tier, tax-exempt dividend of 4.96 Singapore cents per share, 33.33 percent higher than the previous year, maintaining a 30 percent payout ratio.

Revenue increased 5.94 percent to US$16.44 billion despite lower oil prices, as total supply and trading volume expanded 18.25 percent to 25.92 million tonnes. Gross profit surged 73.94 percent to US$72.82 million, while the share of results from associates rose 31.21 percent to US$60.22 million. Expenses grew 24.11 percent to US$24.03 million, and other operating income slipped 6.45 percent to US$16.23 million as deposit rates moderated.

Cash and cash equivalents stood at US$687.00 million at end-December, up from US$500.33 million a year earlier, and the group remained free of interest-bearing debt. Net asset value per share increased to 125.28 US cents from 114.66 US cents.

Chief executive Lin Yi attributed the record results to “strategic agility” and the continuing recovery in global and Chinese aviation markets, noting that China’s passenger volumes grew 5.5 percent in 2025. He said the company is “cautiously optimistic” for 2026, pointing to Civil Aviation Administration of China projections of 810 million travellers, and highlighted plans to tap rising demand and expand low-carbon businesses.

Executive chairman Xu Guohong said the geopolitical and trade environment is likely to stay volatile. He added that CAO will deepen existing businesses, strengthen supply-chain resilience and scale sustainable aviation fuels to secure “high-quality growth” aligned with industry net-zero goals.