Sinopec Shanghai Petrochemical to Consolidate Baling New Materials as Subsidiary
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Sinopec Shanghai Petrochemical Co. has announced plans to consolidate Baling New Materials, a joint venture with Hunan Petrochemical, into its financial statements. This move will enhance its voting rights and corporate governance, effectively making Baling New Materials a subsidiary. The transaction requires reporting and approval from independent shareholders, with a circular due by February 9, 2026, and a new joint venture agreement by March 31, 2026. The latest analyst rating for Sinopec Shanghai Petrochemical (HK:0338) is a Hold with a price target of HK$1.50.
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