What is the total investment across all Sinopec chemical projects as of June 30, and how is funding structured?

As of June 30, the aggregate investment across Sinopec's six major chemical projects — Maoming (15.6 billion RMB), Jiujiang (5.7 billion RMB), Zhenhai (4.6 billion RMB), Henan (2.7 billion RMB), Fujian Gulei Phase II (2.1 billion RMB equity), and Kazakhstan (4.2 billion RMB equity) — totals 34.9 billion renminbi ($5.1 billion). Funding for all domestic projects is sourced from a combination of self-owned funds and bank loans, while the Kazakhstan project’s 4.2 billion RMB represents equity investment only.

How did Sinopec’s chemicals business perform in the first half of 2026, and what are its key output and financial targets for the second half?

In the first half of 2026, Sinopec’s chemicals business recorded sales of 195.7 billion renminbi, down 2% year-on-year due to lower sales volumes, but narrowed its operating loss to 247 million renminbi — a sharp improvement from the 4.2 billion renminbi loss in the same period last year; ethylene output fell 15.5% year-on-year to 6.3 million metric tons, with a target of 6.8 million metric tons for the second half of 2026.

Sinopec Updates Progress on Major Chemical Projects

Aug 26, 2026

Sinopec Group reported progress on several major petrochemical projects with billions in investment, while earmarking further capital expenditure for 2026. Although sales declined, the chemicals segment significantly narrowed its operating loss in the first half of 2026.

chemweek

2026-08-26

Sinopec Updates Progress on Major Chemical Projects

Sinopec Updates Progress on Major Chemical Projects

FAQ