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<Research>UBS Reduces SHANGHAI PECHEM's TP to HKD2.02, Rating Buy
Recommend 7 Positive 3 Negative 7 |
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SHANGHAI PECHEM (00338.HK) saw a 13% YoY decline in 2025 revenue to RMB75.6 billion and reported a net loss of RMB1.4 billion, in line with the previously disclosed profit warning, according to a UBS research report. For 4Q25 alone, SHANGHAI PECHEM's net loss reached RMB1 billion, as the gross margin was dragged down from 17% in 3Q25 to 12% by pressure on refining fundamentals during the period, and equipment maintenance led to a marked QoQ drop in product shipment volume. UBS has trimmed its target price for SHANGHAI PECHEM from HKD2.11 to HKD2.02, with a Buy rating. AASTOCKS Financial News |
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