CPECC H1 Revenue Up 5.9% to RMB38.4 Billion, Net Profit Falls 22.27%
China Petroleum Engineering & Construction Corp (CPECC) reported first-half 2026 revenue of RMB38.427 billion, up 5.9% year on year, while net profit attributable to shareholders fell 22.27% to RMB365 million. Basic earnings per share were RMB0.0654. The company attributed the decline to higher project costs from Middle East tensions, losses in pipeline and storage engineering units, and increased financial expenses from currency fluctuations.
China Petroleum Engineering & Construction Corp (CPECC) disclosed its interim report on August 26, showing revenue of RMB38.427 billion for the first half of 2026, an increase of 5.9% year on year. Net profit attributable to shareholders of the listed company stood at RMB365 million, down 22.27% from the same period last year. Basic earnings per share were RMB0.0654.
The company said the performance change during the reporting period was mainly driven by multiple factors, including higher project execution costs due to the situation in the Middle East, losses in business segments such as pipeline and storage engineering, and increased financial expenses resulting from exchange rate movements.