Lates News

Citigroup's research report states that Sinopec Energy's net profit in the first half of the year increased by 23.4% year-on-year to 450 million yuan, mainly benefited from the growth of solar power generation capacity, reduction in financial and tax expenses. These factors offset the higher grid restrictions and more market discount-based sales impacts. The bank stated that Sinopec Energy's effective debt cost decreased from 3.5% at the end of 2024 and 4.7% a year ago to 2.88% in the first half of this year, prompting a 2% to 7% increase in the company's net profit forecast for 2025 to 2027 in response to the decrease in financing costs. The target price was raised from HK$0.86 to HK$1.30, while maintaining a "neutral" rating.