Sinopec Shanghai Petrochemical Enters Steam Sales Agreement with Baling New Materials

An update from Sinopec Shanghai Petrochemical Co ( (HK:0338) ) is now available.

Sinopec Shanghai Petrochemical Company Limited has approved a Steam Sales Contract with Baling New Materials, effective from signing until December 31, 2025, with a fee cap of RMB106.50 million. This transaction, classified as a continuing connected transaction under Hong Kong Listing Rules, involves the supply of industrial-grade steam and reflects strategic collaboration within the Sinopec group, potentially enhancing operational synergies and market positioning.

The most recent analyst rating on (HK:0338) stock is a Hold with a HK$3.70 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 is a major player in the petrochemical industry, primarily engaged in the production and sale of petrochemical products. The company is a subsidiary of Sinopec Corp., which holds a controlling interest, and focuses on supplying industrial-grade products to various sectors.

Average Trading Volume: 13,503,600

Technical Sentiment Signal: Buy

Current Market Cap: HK$26.91B

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