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<Research> HSBC Research Expects SINOPEC CORP (00386.HK) 2Q Earnings to Weaken, Maintains Hold
HSBC Research said in a report that SINOPEC CORP (00386.HK) recorded a 27% YoY increase in net profit in 1QYY, beating the brokers expectations, mainly supported by strong refinin...
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<Research> HSBC Research Expects SINOPEC CORP (00386.HK) 2Q Earnings to Weaken, Maintains Hold
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HSBC Research said in a report that SINOPEC CORP (00386.HK)  +0.010 (+0.217%)    Short selling $65.68M; Ratio 28.788%   recorded a 27% YoY increase in net profit in 1QYY, beating the brokers expectations, mainly supported by strong refining margins. However, the broker expects profitability to weaken in 2QYY as higher crude oil procurement and logistics costs start to surface, while the temporary price cap on refined oil products continues to limit the companys ability to pass on costs downstream. For the chemicals segment, the broker expects QoQ losses to widen, affected by lower operating rates, limited inventory gains and persistent difficulties in passing on costs amid weak downstream demand.

HSBC Research raised its earnings forecasts for SINOPEC CORP for 2026 to 2028 by 18%, 11% and 9%, respectively. It maintained a Hold rating and a TP of HKD4.4 on SINOPEC CORP H shares, and set a TP of RMB5.5 for SINOPEC (600028.SH)  -0.030 (-0.554%)   A shares, with the rating also at Hold. (hc/w)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-04 16:25.) (A Shares quote is delayed for at least 15 mins.)

Related News UBS Cuts SINOPEC CORP (00386.HK) TP to HKD7.1, Expects Refining and Chemicals Businesses to Face Pressure in 2Q



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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