BOCI Research: CNOOC (03868.HK) to Expand into Malaysia or Increase Return on Equity, Maintains "Buy" Rating with Target Price of HK$1.5

According to the Wise Finance APP, CICC has released a research report stating that Sinopec Energy (03868.HK) saw a 23% year-on-year increase in net profit in the first half of this year, exceeding market expectations. They believe that their entry into the Malaysian market will likely improve the return on equity and maintain a "buy" rating on Sinopec Energy. Based on discounted cash flow analysis, the target price is set at 1.5 Hong Kong dollars, implying a 4.1% dividend yield in 2026 (assuming a 50% payout ratio).