Major ratings | Macquarie: Downgrades Sinopec's Target Price to HKD 5.1 and lowers after-tax net profit forecast.

Macquarie issued a research report, indicating that it still expects the oil market to be severely oversupplied by 2025, predicting that the average price of Crude Oil Futures in 2025 will be approximately $65 per barrel. In response to the forecast of lower refining and sales profit margins, it has lowered Sinopec's net profit forecasts for 2024 to 2026 by 29%, 15%, and 21%, to 48.3 billion, 57.8 billion, and 59.9 billion yuan respectively. The bank has also reduced the Target Price for Sinopec by 3.8% to HKD 5.1, maintaining an 'outperform' rating.

Gelonghui Finance5minutes ago

Zhithong Hong Kong Stock Repurchase Statistics | March 25

Hong Kong stock repurchase statistics | March 25.

Zhitong Finance21:10 ET

Trump claims he will impose "secondary tariffs" targeting buyers of Venezuelan oil.

① Trump announced that the USA will impose "secondary sanctions" on Venezuela, and any country purchasing oil or Henry Hub Natural Gas from Venezuela will be forced to pay a 25% tariff to the USA; ② The USA is one of the destinations for Venezuela's energy, with Venezuela's Crude Oil Product export volume in 2024 estimated at approximately 0.66 million barrels per day, of which the USA's import volume is around 0.233 million barrels per day.

cls.cn13:12 ET

SINOPEC CORP (00386.HK) spent 98.5153 million Hong Kong dollars to repurchase 23.8 million shares on March 24.

Gelonghui reported on March 24 that SINOPEC CORP (00386.HK) announced that on March 24, 2025, it spent 98.5153 million Hong Kong dollars to repurchase 23.8 million shares, at a repurchase price of 4.11-4.17 Hong Kong dollars per share.

Gelonghui FinanceMar 24 05:44 ET

Express News | Sinopec Bought Back 23.8 Mln H Shares for HK$98.5 Mln on March 24 - HKEX Filing

ReutersMar 24 05:44 ET

Express News | Sinopec President: China's Tariffs on U.S. Oil, Gas Have 'limited' Impact on Chinese Imports, U.S. Oil Has a Low Share in Sinopec's Crude Oil Imports

ReutersMar 24 04:19 ET