Guangfa Securities: Sinopec's large-scale buyback demonstrates confidence, maintains "buy" rating on A and H shares.

Guangda Securities research report pointed out that Sinopec's large-scale share repurchase demonstrates confidence and deepens shareholder value returns. The company plans to repurchase A-shares with an amount not less than 500 million yuan and not more than 1 billion yuan. This repurchase plan reflects the company's sincerity in returning shareholder value, indicates the company's positive attitude towards the capital market, demonstrates the return value to investors, and shows the determination and confidence in the high-quality development of the company. The easing of Middle East geopolitical conflicts bodes well for the company's long-term fundamentals. The company will establish a "one foundation, two wings, three chains, and four new" pattern, and its long-term competitiveness is expected to improve. The company adheres to a long-term strategy, with forward-looking layouts in new energy and materials businesses. As the overall prosperity of the chemical industry improves in the future, the company's new production capacity will gradually come online, and the layout in the field of new energy will be realized. Performance is expected to improve, and the company's long-term growth prospects are promising. The "buy" rating for A-shares and H-shares is maintained.