Bangchak reported Q2/2569 net profit of 12.2 billion baht, up 99% QoQ, driven by favorable oil price spreads, unrealized hedging gains, and first commercial SAF (sustainable aviation fuel) production at 6.8 KBD with 39 million liters sold. Revenue reached 183.6 billion baht (+29% QoQ) with EBITDA at 26 billion baht (+46%), reflecting strong operational momentum across refining, retail, and bioenergy segments. The company also acquired all shares of Chevron Hong Kong with 31 service stations, bolstering its Southeast Asia retail expansion. Strong balance sheet (cash 27.6B baht, Net IBD/E 1.05x) supports continued investment in future energy businesses.