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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  China Petroleum & Chemical Corp    600028   CNE0000018G1

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China Petroleum & Chemical Corp : Fu Chengyu: "Thrift" Is the Greatest Resource

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03/13/2013 | 10:43am CET

Fu Chengyu, Member of the CPPCC National Committee, Chairman of Sinopec, commented during the panel discussion on the Work Report of the Government on March 5 that currently both the national economy and Sinopec itself are facing the challenges of environment and energy security, which cannot be bypassed. The data of the National Development Reform Commission show that in 2012, China's production of crude oil was 207.48 million tons, an increase of 1.9%; its import of crude oil was 271.09 million tons, an increase of 7.3%; and the apparent consumption of crude oil was 476.13 million tons, an increase of 4.9% over the previous year, showing a dependency rate of 56.4 %. In this regard, Fu Chengyu said: In addition to vigorously developing new energy sources, our greatest resource is actually thrift. If the current energy conversion efficiency is increased by 30%, the energy demanded for achieving the goal of doubling GDP will be met.

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Financials ( CNY)
Sales 2016 1 985 046 M
EBIT 2016 60 562 M
Net income 2016 35 631 M
Debt 2016 166 575 M
Yield 2016 2,55%
P/E ratio 2016 17,50
P/E ratio 2017 13,90
EV / Sales 2016 0,40x
EV / Sales 2017 0,37x
Capitalization 631 361 M
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 5,85  CNY
Spread / Average Target 10%
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Hou Liang Dai Vice Chairman & President
Yun Liu Chairman-Supervisory Board
Yu Pu Wang Chairman
Dehua Wang Chief Financial Officer
Zhi Gang Wang Executive Director & Senior Vice President
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