- The company reversed from a net loss of -RMB514 million in 2Q 2020 to a net profit of RMB1,074 million in 3Q 2020, which suggests that recovery is in sight.
- The stock offers consensus forward FY 2021 and FY 2022 dividend yields of 6.7% and 8.3%, respectively, which is supported by its dividend payout track record and net cash position.
- Sinopec Shanghai Petroleum trades at 0.54 times P/B and 6.6 times forward FY 2021 P/E, but its consensus forward ROEs in the high single-digit are the lowest among its peers.
For further details see:
Sinopec Shanghai: On The Path Of Recovery