Lates News

Lyons released a research report stating that the second quarter performance of China Petroleum exceeded expectations, with profit decline surpassing Sinopec. Apart from the chemical industry business, the divergence trend in sales volume of both companies in the second quarter is worth noting. The bank predicts that such differences may further widen in the coming quarters. China Petroleum's dividend payout ratio increased by 6 percentage points to 48% annually, once again outperforming Sinopec and gaining market popularity. The bank raised China Petroleum's H-share target price from HK$8 to HK$8.6, and A-share target price from 11.2 yuan to 11.9 yuan, both with an "outperform the market" rating. The bank's industry preference ranking is China Petroleum, CNOOC, and Sinopec.