high performance sinopec dop from china

  • high performance sinopec dop from china
  • high performance sinopec dop from china
  • high performance sinopec dop from china
  • Does Sinopec have a competitive advantage?
  • Sinopec holds around 80% of the groups' assets across industry chains, and accounts around 80% of the Group's EBITDA. We assess Sinopec as providing a 'High' competitive advantage for the Group, and is the primary platform to carry out national energy security and energy transition mandates for the parent.
  • Is Sinopec a good stock to buy?
  • Sinopec has a long record of smooth debt raising in the onshore and offshore markets. Moreover, it is dual listed on the Shanghai and Hong Kong stock exchanges and could also raise funds from the equity market. Sinopec is China's top refining and petrochemical supplier and is the main listing platform of Sinopec Group.
  • Does Sinopec have a solid financial position?
  • Solid Financial Position: Sinopec maintained net cash after its mid-stream asset disposals. We expect slightly higher leverage due to increased dividends and elevated capex, but EBITDA net leverage should stay below 1.0x.
  • Will Sinopec cover future high CAPEX?
  • Fitch believes future high capex can be covered mostly by strong operating cash flow, with a small gap to be closed by other funding channels. Sinopec has strong access to domestic banks, onshore and offshore bond markets and equity markets in 'A' and 'H' stock exchanges.
  • Will Sinopec cut its capax?
  • Sinopec in the report said it plans to reduce budgets in almost in every segment, resulting to a 12.3% year-on-year reduction in total capax to Yuan 165.8 billion. The heaviest cut is in its chemical segment, by 13.1% to Yuan 16.6 billion.

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