BOCI Adjusts Sinopec Price Target to HK$5, Anticipates Q4 Earnings Decline

Stock News11-03 15:18

According to a research report from BOCI, SINOPEC CORP (00386) recorded a net profit increase of 54% quarter-on-quarter to RMB 13.6 billion in the third quarter, which was 21% higher than the bank's expectations. This outperformance was primarily driven by significantly better-than-expected profits in the refining segment.

Despite the sharp rise in oil prices, BOCI forecasts that Sinopec's fourth-quarter earnings will decline by 7% quarter-on-quarter. The bank maintains its "Hold" rating and has raised its target price from HK$4.92 to HK$5.

The report also noted that recent deterioration in Middle East geopolitical tensions has once again pushed up freight and insurance costs for seaborne imported crude. Additionally, the Chinese government's increases in domestic gasoline and diesel prices since September have been below theoretical levels.

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Additionally, the Chinese government's increases in domestic gasoline and diesel prices since September have been below theoretical levels.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1580142542.USD","symbol_name":"Blackrock Systematic China A-Share Opportunities A2 USD","start_time":0,"source_url":"","article_id":"1133750682","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1133750682","pubTimestamp":1793690292,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"According to a research report from BOCI, SINOPEC CORP (00386) recorded a net profit increase of 54% quarter-on-quarter to RMB 13.6 billion in the third quarter, which was 21% higher than the bank's...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"601857":"中国石油","LU1580142542.USD":"Blackrock Systematic China A-Share Opportunities A2 USD","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","LU0359201612.USD":"贝莱德中国基金A2","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU2289578879.USD":"ALLIANZ CHINA A OPPORTUNITIES \"AT\" (USD) ACC","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","LU1997245177.USD":"安联神洲A股基金","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","LU0072462343.USD":"贝莱德亚洲巨龙基金","EWH":"香港ETF-iShares MSCI","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","BK0164":"国企混改","BK1562":"石化股","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","00386":"中国石油化工股份","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","LU0181495838.USD":"施罗德新兴亚洲A Acc","BK0196":"行业龙头","LU1831875114.USD":"SCHRODER ISF ALL CHINA EQUITY \"A\" (USD) ACC","BK0000":"一带一路","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","BK0010":"央企","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","BK1521":"挪威政府全球养老基金持仓","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU1997245094.SGD":"安联神州A股基金AT Acc SGD","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","LU1979443071.USD":"AB CHINA A SHARES EQUITY PORTFOLIO \"AD\" (USDHDG) INC","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU0463099449.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) ACC","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","BK0274":"油气开采","BK0006":"大央企重组","LU1934453819.USD":"AB CHINA A SHARES EQUITY PORTFOLIO \"A\" (USD) ACC","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU2495084118.USD":"ALLIANZ CHINA A-SHARES \"ATH\" (USDHDG) ACC","BK0183":"MSCI概念","BK0188":"融资融券","LU1997244956.HKD":"ALLIANZ CHINA A-SHARES \"AT\" (HKD) ACC A","LU0651947912.USD":"BGF EMERGING MARKETS EQUITY INCOME \"A5G\" (USD) INC","BK0012":"证金概念","LU0140636845.USD":"施罗德大中华区股票A Acc","BK1528":"石油股票概念","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0828237940.HKD":"SCHRODER ISF EMERGING ASIA \"A\" (HKD) ACC","BK0176":"可燃冰","BK0028":"国家队","LU0823426480.USD":"法巴中国股票经典Dis","BK1226":"综合性石油与天然气企业","LU0823426308.USD":"法巴中国股票基金","BK0201":"可转债","LU1188198961.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) INC QV","LU0651946864.USD":"贝莱德新兴市场股票收益A2","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","LU1051769294.HKD":"BGF EMERGING MARKETS EQUITY INCOME \"A6\"(HKDHDG) INC","LU0173614495.USD":"富达中国焦点A"},"translate_title":"中银国际将中石化目标价调整至5港元，预计第四季度盈利下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601857":1,"EWH":1,"00386":1},"content_text":"According to a research report from BOCI, SINOPEC CORP (00386) recorded a net profit increase of 54% quarter-on-quarter to RMB 13.6 billion in the third quarter, which was 21% higher than the bank's expectations. 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