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Sinopec Shanghai Petrochemical Co ( (HK:0338) ) has shared an update.
Sinopec Shanghai Petrochemical Company Limited has announced its intention to enter into an Entrustment Contract with Baling New Materials, a connected party, to provide personnel secondment services for a thermoplastic elastomer project. The contract, valued at RMB52,722,288.14, is considered a connected transaction under Hong Kong Listing Rules and will be executed before the end of 2025. This strategic move is expected to enhance Sinopec’s operational capabilities and strengthen its industry positioning by leveraging its workforce for the development of new materials.
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 petrochemical products. It is a joint stock limited company incorporated in the People’s Republic of China, with Sinopec Corp. as its controlling shareholder, holding approximately 51.81% of its issued share capital.
Average Trading Volume: 10,840,863
Technical Sentiment Signal: Buy
Current Market Cap: HK$25.81B
For an in-depth examination of 0338 stock, go to TipRanks’ Overview page.