- Sinopec Shanghai's net profit jumped by +135% YoY to RMB1,270 million in 4Q 2020, but this is line with market expectations, as the company's earnings were consistent with earlier guidance.
- Despite a challenging 2020, Sinopec Shanghai's full-year FY 2020 dividend per share only declined by -17% YoY, and the company's dividend payout ratio was 213%.
- The market values Sinopec Shanghai at 0.57 times trailing P/B and 6.1 times consensus forward FY 2022 P/E.
For further details see:
Sinopec Shanghai: Higher-Than-Expected FY 2020 Dividend Was A Positive Surprise