Sinopec Shanghai Petrochemical Announces New Framework Agreement for Crude Oil Storage
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Sinopec Shanghai Petrochemical Co has announced a new framework agreement for crude oil storage with Baishawan Branch and Sinopec Reserve, effective after December 31, 2025. The agreement includes a storage capacity of 950,000 cubic meters and annual fees capped at RMB114 million. This transaction is a continuing connected transaction under Hong Kong and Shanghai listing rules, exempt from shareholder approval. The latest analyst rating for HK:0338 stock is Hold with a HK$1.50 price target.
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