Sinopec Corp (00386) fell more than 3%, leading declines among China's major state-owned oil producers. At the time of writing, the stock was down 3.21% at HKD 4.53, with a turnover of HKD 371 million. The drop follows the release of the company's 2025 annual report, which showed full-year revenue of RMB 2,783.583 billion, down 9.5% year-on-year. Net profit attributable to equity shareholders of the company was RMB 31.809 billion, a decrease of 36.8% compared to the previous year. The board proposed a full-year cash dividend of RMB 0.2 per share, including a final dividend of RMB 0.112 per share, pending approval at the shareholders' meeting. Sinopec attributed the revenue decline primarily to lower prices of petroleum and petrochemical products, as well as reduced sales volume of refined oil products.