Sinopec 1Q Results Set to Benefit From Improved Upstream Earnings -- Market Talk

Dow Jones

Yesterday

0452 GMT - Sinopec's 1Q results are expected to benefit from improved upstream earnings and inventory gains, Morningstar director Chokwai Lee says in a note. However, he anticipates the oil refiner will face pressure from rising freight costs, pricing controls on refined products and potential export restrictions following the energy shock triggered by the Iran war. "We see downside risk to refining margins should supply disruptions persist," Lee adds, cutting his 2026 net profit forecast by 9%. Morningstar raises its fair value estimate for H-shares to HK$5.70 from HK$5.50. Longer term, declining gasoline and diesel demand in China, driven by rising electric vehicles usage, is expected to weigh on refining margins, while its chemicals segment is projected to return to profitability only in 2028.(jason.chau@wsj.com)

(END) Dow Jones Newswires

March 24, 2026 00:52 ET (04:52 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2621583670"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2621583670\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2621583670?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-03-24 12:52","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2621583670","market":"us","top_or_hot":-1,"title":"Sinopec 1Q Results Set to Benefit From Improved Upstream Earnings -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0452 GMT - Sinopec's 1Q results are expected to benefit from improved upstream earnings and inventory gains, Morningstar director Chokwai Lee says in a note. However, he anticipates the oil refiner will face pressure from rising freight costs, pricing controls on refined products and potential export restrictions following the energy shock triggered by the Iran war. \"We see downside risk to refining margins should supply disruptions persist,\" Lee adds, cutting his 2026 net profit forecast by 9%. Morningstar raises its fair value estimate for H-shares to HK$5.70 from HK$5.50. Longer term, declining gasoline and diesel demand in China, driven by rising electric vehicles usage, is expected to weigh on refining margins, while its chemicals segment is projected to return to profitability only in 2028.(jason.chau@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 24, 2026 00:52 ET (04:52 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sinopec 1Q Results Set to Benefit From Improved Upstream Earnings -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSinopec 1Q Results Set to Benefit From Improved Upstream Earnings -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-03-24 12:52</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0452 GMT - Sinopec's 1Q results are expected to benefit from improved upstream earnings and inventory gains, Morningstar director Chokwai Lee says in a note. However, he anticipates the oil refiner will face pressure from rising freight costs, pricing controls on refined products and potential export restrictions following the energy shock triggered by the Iran war. \"We see downside risk to refining margins should supply disruptions persist,\" Lee adds, cutting his 2026 net profit forecast by 9%. Morningstar raises its fair value estimate for H-shares to HK$5.70 from HK$5.50. Longer term, declining gasoline and diesel demand in China, driven by rising electric vehicles usage, is expected to weigh on refining margins, while its chemicals segment is projected to return to profitability only in 2028.(jason.chau@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 24, 2026 00:52 ET (04:52 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2097828714.EUR","symbol_name":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2621583670","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2621583670","pubTimestamp":1774327920,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0452 GMT - Sinopec's 1Q results are expected to benefit from improved upstream earnings and inventory gains, Morningstar director Chokwai Lee says in a note. However, he anticipates the oil refiner will face pressure from rising freight costs, pricing controls on refined products and potential export restrictions following the energy shock triggered by the Iran war. \"We see downside risk to refining margins should supply disruptions persist,\" Lee adds, cutting his 2026 net profit forecast by 9%. Morningstar raises its fair value estimate for H-shares to HK$5.70 from HK$5.50. Longer term, declining gasoline and diesel demand in China, driven by rising electric vehicles usage, is expected to weigh on refining margins, while its chemicals segment is projected to return to profitability only in 2028.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"600028":"中国石化","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU0821914370.USD":"贝莱德亚洲成长领袖A2","00386":"中国石油化工股份","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","LU0463099449.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) ACC","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","LU0651947912.USD":"BGF EMERGING MARKETS EQUITY INCOME \"A5G\" (USD) INC","BK1562":"石化股","LU0828237940.HKD":"SCHRODER ISF EMERGING ASIA \"A\" (HKD) ACC","LU0140636845.USD":"施罗德大中华区股票A Acc","BK0196":"行业龙头","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","BK0010":"央企","BK0000":"一带一路","LU0823426480.USD":"法巴中国股票经典Dis","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","LU1051769294.HKD":"BGF EMERGING MARKETS EQUITY INCOME \"A6\"(HKDHDG) INC","LU1188198961.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) INC QV","LU0823426308.USD":"法巴中国股票基金","LU0651946864.USD":"贝莱德新兴市场股票收益A2","BK1521":"挪威政府全球养老基金持仓","LU0173614495.USD":"富达中国焦点A","LU0359201612.USD":"贝莱德中国基金A2","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","LU1580142542.USD":"Blackrock Systematic China A-Share Opportunities A2 USD","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","BK0006":"大央企重组","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","BK0183":"MSCI概念","BK0274":"油气开采","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","BK0025":"油气改革","LU0181495838.USD":"施罗德新兴亚洲A Acc","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","BK0188":"融资融券","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","LU1831875114.USD":"SCHRODER ISF ALL CHINA EQUITY \"A\" (USD) ACC","BK0015":"沪股通50","BK1528":"石油股票概念","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","BK0176":"可燃冰","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","BK0028":"国家队","BK1226":"综合性石油与天然气企业","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H"},"translate_title":"中石化第一季度业绩将受益于上游盈利改善——市场讨论","themeId":"8603dabb40994e59ac78c04c930c0d49","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"600028":0.9,"00386":0.9},"content_text":"0452 GMT - Sinopec's 1Q results are expected to benefit from improved upstream earnings and inventory gains, Morningstar director Chokwai Lee says in a note. However, he anticipates the oil refiner will face pressure from rising freight costs, pricing controls on refined products and potential export restrictions following the energy shock triggered by the Iran war. \"We see downside risk to refining margins should supply disruptions persist,\" Lee adds, cutting his 2026 net profit forecast by 9%. Morningstar raises its fair value estimate for H-shares to HK$5.70 from HK$5.50. Longer term, declining gasoline and diesel demand in China, driven by rising electric vehicles usage, is expected to weigh on refining margins, while its chemicals segment is projected to return to profitability only in 2028.(jason.chau@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 24, 2026 00:52 ET (04:52 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}