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

CHINA PETROLEUM & CHEMICAL CORPORATION

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China names chairmen for CNPC, Sinopec Group

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01/17/2020 | 08:36am EST
China’s Sinopec Corp Vice Chairman & President Dai Houliang attends a news conference in Hong Kong

China National Petroleum Corp (CNPC) has appointed Dai Houliang as chairman, replacing Wang Yilin who is retiring, it said in a statement posted on its official WeChat account on Friday.

Dai will step down from chairman position at China Petrochemical Group (Sinopec Group), according to the statement. He served the last decade as a senior executive of Sinopec Group's listed arm, Sinopec Corp.

Zhang Yuzhuo, who once served as the chairman of China's largest coal miner Shenhua Group, has been appointed chairman of Sinopec, replacing Dai, Sinopec said on its official WeChat account.

Wang Yilin previously served as the chairman of China National Offshore Oil Corp (CNOOC).

The appointments come two months after China announced the merger of the networks operated by the three state-owned giants, CNPC, Sinopec and CNOOC, under a single state entity.

China has been accelerating the overhaul of its energy sector in recent years, including changes to its gas pricing policy and merging power and coal mining giants.

Dai started his Sinopec management experience in 1997 as the deputy managing director of its subsidiary plant, Yangzi Petrochemical Corp. Sinopec is Asia's largest refiner.

(Reporting by Asia energy team, Aizhu Chen in Singapore and Muyu Xu in Beijing; Editing by Himani Sarkar asnd Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
CHINA PETROLEUM & CHEMICAL CORPORATION -0.47% 4.21 End-of-day quote.0.00%
CHINA SHENHUA ENERGY COMPANY LIMITED -1.25% 16.53 End-of-day quote.-8.27%
CNOOC LIMITED -0.33% 12.18 End-of-day quote.-0.33%
LONDON BRENT OIL -1.23% 56.21 Delayed Quote.-10.42%
PETROCHINA COMPANY LIMITED -1.17% 3.38 End-of-day quote.-0.88%
WTI -1.26% 51.445 Delayed Quote.-12.39%
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Financials (CNY)
Sales 2019 2 927 B
EBIT 2019 89 804 M
Net income 2019 57 851 M
Finance 2019 51 868 M
Yield 2019 8,23%
P/E ratio 2019 7,79x
P/E ratio 2020 8,37x
EV / Sales2019 0,17x
EV / Sales2020 0,15x
Capitalization 546 B
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 4,97  CNY
Last Close Price 3,72  CNY
Spread / Highest target 61,1%
Spread / Average Target 33,7%
Spread / Lowest Target 1,40%
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Managers
NameTitle
Yong Sheng Ma Chairman, President & General Manager
Dong Zhao Chairman-Supervisory Board
Donghua Shou Chief Financial Officer
Zhen Ying Jiang Member-Supervisory Board
Ren Ming Yu Member-Supervisory Board
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