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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  China Petroleum & Chemical Corporation    0386   CNE1000002Q2

CHINA PETROLEUM & CHEMICAL CORPORATION

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China Petroleum & Chemical : Sinopec, SABIC's ethylene expansion project starts construction

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10/17/2019 | 04:00am EST
FILE PHOTO: The company logo of China’s Sinopec Corp is displayed at a news conference in Hong Kong

BEIJING (Reuters) - China's SINOPEC SABIC Tianjin Petrochemical Co Ltd (SSTPC), kicked off its ethylene expansion project on Oct. 14, the company said in a statement on its website on Thursday.

The expansion project aims to boost SSTPC's ethylene annual capacity to 1.3 million tonnes from 1.0 million tonnes.

The report, however, did not mention when the expansion project is expected to be completed.

SSTPC is a Tianjin-based petrochemical firm jointly set up by China Petroleum & Chemical Corp and Saudi Basic Industries Corp (SABIC) in 2009.

China, the world's top chemicals consumer, is building and planning a total of 15 ethylene complexes before 2023, in the biggest wave of petrochemical expansions in its history.

(Reporting by Min Zhang, Shivani Singh and Beijing Newsroom; Editing by Rashmi Aich)

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Financials (CNY)
Sales 2019 2 940 B
EBIT 2019 89 067 M
Net income 2019 56 416 M
Debt 2019 11 657 M
Yield 2019 8,17%
P/E ratio 2019 8,10x
P/E ratio 2020 7,94x
EV / Sales2019 0,20x
EV / Sales2020 0,18x
Capitalization 570 B
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Mean consensus BUY
Number of Analysts 18
Average target price 5,50  CNY
Last Close Price 3,91  CNY
Spread / Highest target 77,9%
Spread / Average Target 40,6%
Spread / Lowest Target 13,1%
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