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Sinopec Shanghai Petrochemical Co ( (HK:0338) ) has shared an update.
Sinopec Shanghai Petrochemical Company Limited has signed a new framework agreement with its Baishawan Branch and Sinopec Reserve for the provision of crude oil storage services, effective 29 December 2025, setting an annual cap of RMB114 million (including VAT) for storage fees. The cap is based on historical transaction costs and a competitive price inquiry process with at least two independent third-party storage providers in nearby regions, confirming that the agreed unit price of RMB10 per cubic meter per month is not higher than prevailing market rates for an expected one-year storage period covering about 950,000 cubic meters per month. To safeguard minority shareholders and ensure the continuing connected transactions remain on arm’s-length terms, the company has detailed internal control mechanisms involving multi-level contract reviews, quarterly reconciliation and pricing checks by accounting personnel, oversight and opinion from the board and its audit and compliance committee, and annual audits by external auditors to confirm that transaction terms are fair, reasonable and within the approved annual caps.
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 is a joint stock company incorporated in the People’s Republic of China, operating in the petrochemical industry. It is involved in refining crude oil and related downstream petrochemical products, and relies on large-scale storage and logistics infrastructure to support its processing and trading activities in key coastal regions such as Baishawan, Zhoushan and Ningbo.
YTD Price Performance: 12.05%
Average Trading Volume: 9,679,101
Technical Sentiment Signal: Hold
Current Market Cap: HK$26.1B
Learn more about 0338 stock on TipRanks’ Stock Analysis page.