Workflow
瑞银:降上海石油化工股份目标价至1.89港元 维持“买入”评级
Zhi Tong Cai Jing·2025-08-22 03:59

Group 1 - UBS report indicates that Shanghai Petrochemical Co. (00338) experienced a 9% year-on-year decline in revenue for the first half of the year, with a net loss of 462 million RMB, aligning with previous profit forecasts [1] - In the second quarter, the net loss widened to 372 million RMB, primarily due to asset impairment losses of 417 million RMB [1] - The company plans to continue advancing carbon fiber production capacity in the second half of the year [1] Group 2 - UBS believes that the operating environment for the petrochemical industry will improve as the domestic refining and chemical sector moves away from excessive competition [1] - The firm has lowered its earnings forecast for the group to 21 million RMB for this year and reduced its earnings estimates for 2026-2027 by 2% to 18% [1] - The target price has been adjusted from 1.93 HKD to 1.89 HKD, while maintaining a "Buy" rating [1]