Lyon: Downgrade SINOPEC CORP (00386) target price to HKD 4.4, third quarter performance is mediocre.

14:00 31/10/2025

Among the three major oil companies in China, the preferred choice is PetroChina (00857), followed by CNOOC (00883), while Sinopec ranks third.

Lyon released a research report stating that SINOPEC CORP (00386) will show disappointing performance in the third quarter of 2025, with downstream business continuing to be weak and no signs of improvement. The management team was cautious during the quarterly conference call, even hinting that impairment losses may increase compared to the same period last year as the year-end approaches. The bank has lowered the target price for Sinopec's H shares and A shares from HK$4.5 and RMB 6.3 to HK$4.4 and RMB 6 respectively, maintaining an "outperform" rating. Among China's three major oil companies, the bank prefers PETROCHINA (00857) as the top choice, followed by CNOOC (00883), with SINOPEC ranking third.

During the third quarter, operating profit is expected to be approximately 1.35 billion to 1.5 billion yuan, a year-on-year increase of approximately 71.5% to 90.5%.

Hymson Laser Technology Group (688559.SH) plans to launch an employee shareholding plan in 2025.

Hymson Laser Technology Group (688559.SH) plans to launch a restricted stock incentive plan for 2,643,078 shares.

During the third quarter, operating profit is expected to be approximately 1.35 billion to 1.5 billion yuan, a year-on-year increase of approximately 71.5% to 90.5%.

Hymson Laser Technology Group (688559.SH) plans to launch an employee shareholding plan in 2025.

Hymson Laser Technology Group (688559.SH) plans to launch a restricted stock incentive plan for 2,643,078 shares.