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<Research> CLSA Expects SINOPEC CORP (00386.HK) to Face Real Test in 2Q, Cuts TP to HKD4.9
CLSA said in a research report that SINOPEC CORP (00386.HK) recorded net profit of RMB17.7 billion in the first quarter, up 27% YoY and 43x QoQ, accounting for 42% of the brokers ...
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<Research> CLSA Expects SINOPEC CORP (00386.HK) to Face Real Test in 2Q, Cuts TP to HKD4.9
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CLSA said in a research report that SINOPEC CORP (00386.HK)  -0.080 (-1.751%)    Short selling $163.89M; Ratio 28.170%   recorded net profit of RMB17.7 billion in the first quarter, up 27% YoY and 43x QoQ, accounting for 42% of the brokers full-year forecast. The broker believes the results reflect that the companys operations have remained normal amid tensions in the Middle East. However, it expects the real test to emerge in the second quarter, as crude oil supply disruptions starting in April may begin to affect the companys import performance.

Taking potential risks into account, the broker lowered its EPS forecasts for 2026 to 2028 by 2% to 7%. It cut the TP for SINOPEC CORP (00386.HK)  -0.080 (-1.751%)    Short selling $163.89M; Ratio 28.170%   H shares from HKD5.2 to HKD4.9, and reduced the TP for SINOPEC (600028.SH)  -0.020 (-0.388%)   A shares from RMB7.1 to RMB6.4, while maintaining an Outperform rating on both. (ss/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-15 16:25.) (A Shares quote is delayed for at least 15 mins.)

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