Sinopec Engineering hits 8-month high on H1 profit rise

SINOPEC Engineering Co

18/08/2025 04:11

** Sinopec Engineering Group 2386.HK jumps 10.4% to HK$6.82, highest since December 31, 2024

** Stock set for biggest one-day pct gain since March 2020

** Chinese engineering, procurement and construction contracting business group's H1 net profit up 4.8% y/y

** Citi maintains "buy", lifts PT to HK$7.2 from HK$6.5

** Says net profit better than expected due to major projects entering peak construction or settlement phases

** Adds robust new contracts and strong backlog signal bright future

** YTD, stock up 1.5%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))