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Sinopec Shanghai Petrochemical Co ( (HK:0338) ) has provided an update.
Sinopec Shanghai Petrochemical Company Limited has announced a New Framework Agreement with the Baishawan Branch and Sinopec Reserve, set to commence after the expiration of the current agreement on December 31, 2025. The agreement, which involves the provision of crude oil storage services with a capacity of 950,000 cubic meters and annual fees capped at RMB114 million, highlights the company’s ongoing strategic partnerships within the Sinopec Group. This transaction is classified as a continuing connected transaction under Hong Kong and Shanghai listing rules, subject to specific reporting requirements but exempt from shareholder approval.
The most recent analyst rating on (HK:0338) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Sinopec Shanghai Petrochemical Co stock, see the HK:0338 Stock Forecast page.
More about Sinopec Shanghai Petrochemical Co
Sinopec Shanghai Petrochemical Company Limited operates in the petrochemical industry, focusing on the production and distribution of petroleum and chemical products. The company is part of the Sinopec Group, which is a major player in the energy and chemical sectors.
Average Trading Volume: 10,840,863
Technical Sentiment Signal: Buy
Current Market Cap: HK$25.81B
See more insights into 0338 stock on TipRanks’ Stock Analysis page.