CHINA AVIATION OIL (SINGAPORE) CORPORATION LTD (Company Registration No. 199303293Z) Condensed Consolidated Financial Statements For The Second Half and Year Ended 31 December 2025
-
Condensed consolidated statement of profit or loss and other comprehensive income
Consolidated Statement of Profit or Loss
Note
2H 2025
US$'000
2H 2024
US$'000
Variance
+ / - %
FY 2025
US$'000
FY 2024
US$'000
Variance
+ / - %
Revenue
Cost of sales
4
7,879,027
(7,836,592)
7,982,987
(7,965,303)
-1.30
-1.62
16,439,557
(16,366,739)
15,518,512
(15,476,647)
5.94
5.75
Gross Profit
42,435
17,684
139.96
72,818
41,865
73.94
Other operating income
8,737
8,164
7.02
16,231
17,350
-6.45
Administrative expenses
(11,675)
(10,681)
9.31
(19,029)
(17,196)
10.66
Other operating expenses
(2,056)
914
NM
(4,111)
(1,306)
214.78
Finance costs
(442)
(413)
7.02
(888)
(858)
3.50
Operating Profit
36,999
15,668
136.14
65,021
39,855
63.14
Share of results of
associates (net of tax)
32,775
22,750
44.07
60,219
45,894
31.21
Profit before tax
5
69,774
38,418
81.62
125,240
85,749
46.05
Tax expense
6
(9,174)
(2,594)
253.66
(14,598)
(7,661)
90.55
Profit for the period/year
60,600
35,824
69.16
110,642
78,088
41.69
Consolidated Statement of Other Comprehensive Income
2H 2025
US$'000
2H 2024
US$'000
Variance
+ / - %
FY 2025
US$'000
FY 2024
US$'000
Variance
+ / - %
PROFIT FOR THE
PERIOD/YEAR
60,600
35,824
69.16
110,642
78,088
41.69
Other comprehensive income/(loss):
Items that may be reclassified to profit or loss in subsequent periods (net of tax) :
Currency translation differences on consolidation of foreign
entities (net) (note (a))
783
(4,038)
NM
5,199
(8,559)
NM
Total other comprehensive
income/(loss) for the period/year
783
(4,038)
NM
5,199
(8,559)
NM
TOTAL COMPREHENSIVE
INCOME FOR THE PERIOD/YEAR
61,383
31,786
93.11
115,841
69,529
66.61
Profit attributable to:
Owners of the Company
60,498
35,957
68.25
110,526
78,357
41.05
Non-controlling interests
102
(133)
NM
116
(269)
NM
60,600
35,824
69.16
110,642
78,088
41.69
Total comprehensive income
attributable to:
Owners of the Company
61,281
31,919
91.99
115,725
69,798
65.80
Non-controlling interests
102
(133)
NM
116
(269)
NM
61,383
31,786
93.11
115,841
69,529
66.61
Earnings per share for profit for the period attributable to the owners of the Company during the period/year:
Basic (USD in cent)
Diluted (USD in cent)
7.03
4.18
68.18
12.85
9.11
41.05
7.03
4.18
68.18
12.85
9.11
41.05
Note (a): Compared to the end of December 2024, the RMB and Korean Won appreciated approximately 2.27% and 1.47% respectively against the US Dollar during the twelve months ended 31 December 2025 giving rise to the translation gain on foreign associates. RMB and Korean Won depreciated approximately 1.47% and 12.82% respectively last year and resulted in translation loss for FY2024.
NM denotes "not meaningful"
-
Condensed statements of financial position
Statements of Financial Position
Group
Company
As at As at
As at As at
31 Dec 2025 31 Dec 2024
31 Dec 2025 31 Dec 2024
Note
US$'000 US$'000
US$'000 US$'000
ASSETS
Non-current assets
Property, plant and equipment
7
12,718 14,187
11,377 12,355
Right-of-use assets
5,004 2,887
415 273
Intangible assets
8
4,902 5,768
165 145
Subsidiaries
- -
36,928 36,928
Associates
11
278,477 264,273
278,477 264,273
Financial asset at FVTOCI
12
5,500 5,500
- -
Deferred tax asset
- 720
- -
306,601 293,335
327,362 313,974
Current assets
Inventories
136,657 70,968
8,690 16,713
Trade and other receivables
13
1,137,361 1,127,067
1,094,647 1,049,695
Cash and cash equivalents
686,998 500,329
656,689 483,347
1,961,016 1,698,364
1,760,026 1,549,755
Total assets
2,267,617 1,991,699
2,087,388 1,863,729
EQUITY AND LIABILITIES
Capital, Reserves and Non-controlling interests
Share capital
14
215,573 215,573
215,573 215,573
Reserves
862,039 770,697
811,241 742,467
Equity attributable to owners
of the Company
Non-controlling interests
1,077,612 986,270
3,794 3,678
1,026,814 958,040
- -
Total equity
1,081,406 989,948
1,026,814 958,040
Non-current liabilities
Lease liabilities
3,879 1,678
92 51
Deferred tax liabilities
10,411 9,201
9,834 9,201
14,290 10,879
9,926 9,252
Current liabilities
Trade and other payables
15
1,151,694 981,043
1,044,368 893,005
Contract liabilities
10,223 4,162
- -
Lease liabilities
1,448 1,644
322 226
Current tax liabilities
8,556 4,023
5,958 3,206
1,171,921 990,872
1,050,648 896,437
Total liabilities
1,186,211 1,001,751
1,060,574 905,689
Total equity and liabilities
2,267,617 1,991,699
2,087,388 1,863,729
- Condensed statements of changes in equity
Share capital | Retained earnings | Treasury shares | Foreign currency translation reserve | Statutory reserve | Total attributable to owners of the Company | Non-controlling interests | Total equity | |
THE GROUP US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | |
As at 1 January 2024 215,573 709,830 | (5,482) | (8,741) | 37,220 | 948,400 | 3,947 | 952,347 | ||
Total comprehensive | ||||||||
income for the year - 78,357 | - | (8,559) | - | 69,798 | (269) | 69,529 | ||
Share of associates' | ||||||||
accumulated profits | ||||||||
transferred to | ||||||||
statutory reserve Dividends paid in respect | - | (49) | - | - | 49 | - | - | - |
of 2023, representing | ||||||||
total transactions with | ||||||||
shareholders recognised | ||||||||
directly in equity | - | (31,928) | - | - | - | (31,928) | - | (31,928) |
As at 31 December 2024 215,573 756,210 | (5,482) | (17,300) | 37,269 | 986,270 | 3,678 | 989,948 | ||
As at 1 January 2025 215,573 756,210 | (5,482) | (17,300) | 37,269 | 986,270 | 3,678 | 989,948 | ||
Total comprehensive | ||||||||
income for the year - 110,526 | - | 5,199 | - | 115,725 | 116 | 115,841 | ||
Share of associates' accumulated profits transferred from
statutory reserve - 7 - - (7) - - -
Dividends paid in respect of 2024, representing total transactions with
shareholders recognised | ||||||||
directly in equity | - | (24,383) | - | - | - | (24,383) | - | (24,383) |
As at 31 December 2025 | 215,573 | 842,360 | (5,482) | (12,101) | 37,262 | 1,077,612 | 3,794 | 1,081,406 |
As at 1 January 2024 | 215,573 | 684,462 | (5,482) | (8,741) | 37,220 | 923,032 |
Total comprehensive income for the year | - | 75,495 | - | (8,559) | - | 66,936 |
Share of associates' accumulated profits transferred to statutory reserve | - | (49) | - | - | 49 | - |
Dividends paid in respect of 2023, | ||||||
representing total transactions with | ||||||
shareholders recognised directly in equity | - | (31,928) | - | - | - | (31,928) |
As at 31 December 2024 | 215,573 | 727,980 | (5,482) | (17,300) | 37,269 | 958,040 |
As at 1 January 2025 | 215,573 | 727,980 | (5,482) | (17,300) | 37,269 | 958,040 |
Total comprehensive income for the year | - | 87,958 | - | 5,199 | - | 93,157 |
Share of associates' accumulated profits transferred from statutory reserve | - | 7 | - | - | (7) | - |
Dividends paid in respect of 2024, | ||||||
representing total transactions with | ||||||
shareholders recognised directly in equity | - | (24,383) | - | - | - | (24,383) |
As at 31 December 2025 | 215,573 | 791,562 | (5,482) | (12,101) | 37,262 | 1,026,814 |
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