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SHE:002493

8 stories mentioning SHE:002493Updated 26d ago

Every FINWIRES story that references SHE:002493, newest first.

Asia

Rongsheng Petrochemical Evaluating Potential Investment by Aramco Arm in New Materials Project; Shares Rise 3%

Rongsheng Petrochemical (SHE:002493) and its subsidiaries are evaluating a potential 30% to 50% investment by Saudi Basic Industries Corp., or SABIC, in the Jintang New Materials Project, according to a Friday filing with the Shanghai bourse.SABIC will share in the project development costs that could total up to $200 million and will be included in the equity transfer price should SABIC confirm its investment.SABIC is controlled by oil giant Saudi Aramco.Shares of the petrochemical company rose 3% during the midday break on Friday.

SHE:002493
Asia

Rongsheng Petrochemical to Invest 19.6 Billion Yuan in Upgrade Project

Rongsheng Petrochemical (SHE:002493) and controlled subsidiary Zhejiang Petroleum & Chemical plan to invest about 19.6 billion yuan in a refining and chemical integration upgrade project.The initiative aims to enhance processing depth, boost high-value-added new material output and strengthen competitiveness, according to a Friday filing with the Shenzhen bourse.The project is expected to generate annual net profit of 1.41 billion yuan, with an 11.08% internal rate of return and 8.93-year payback. Construction will take about two years.`Shares of the petrochemical company rose 3% in recent trade.

SHE:002493
Asia

Rongsheng Petrochemical's H1 Profit to Skyrocket By Up to 764%

Rongsheng Petrochemical (SHE:002493) predicted that its net profit attributable to owners in the first half will skyrocket by between 730% and 764% to a range of 5 billion yuan to 5.20 billion yuan, according to a Shenzhen bourse filing on Wednesday.The attributable profit a year earlier was 602.1 million yuan.Earnings per share will rise to between 0.52 yuan and 0.54 yuan from 0.06 yuan in the previous year.The pharmaceutical company's shares fell 2% during the morning trade.

SHE:002493
Asia

Market Chatter: China Eases Refined Fuel Export Curbs for July

China has temporarily removed refined fuel export curbs through July and authorized Zhejiang Petrochemical, a private refiner, to restart deliveries after a four-month stoppage, Reuters reported Wednesday.Sources said Zhejiang Petrochemical, majority-owned by Rongsheng Petrochemical (SHE:002493), received approval for July exports after being suspended for over three months, according to the report.Refiners plan to export about 3 million metric tons of fuels this month, including bonded volumes to Hong Kong and Macau, matching last year's average, Reuters wrote.Cargo scheduling is ongoing and expected to finalize by week's end. It remains unclear whether the easing will extend into August, according to the report.China's Ministry of Commerce, the National Development Reform Commission and Rongsheng did not immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSESHE:002493
Asia

Market Chatter: China's Private Refiners Increase Middle East Crude Buying After Hormuz Traffic Improves

Private refiners in China have increased their purchases of cheaper Middle Eastern oil after traffic increased on the Strait of Hormuz, Bloomberg News reported Friday.Rongsheng Petrochemical (SHE:002493) bought crude oil from Saudi Arabia for July delivery, while Shandong Chambroad Petrochemicals purchased Iraq's Basrah crude for August arrival. Shenghong Petrochemical also acquired Upper Zakum crude from the United Arab Emirates, the report cited traders with knowledge of the matter.Several Saudi and Iraqi crude cargoes were sold to China on a delivered basis at discounts of up to $5 a barrel to Brent futures, the report said.Rongsheng Petrochemical, Shandong Chambroad Petrochemicals, and Shenghong Petrochemical did not immediately reply to' request for comment.Shares of Rongsheng Petrochemical added nearly 4% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSESHE:002493
Asia

Market Chatter: Canada's Alberta Province Approaches Rongsheng Petrochemical on Oil Supply Deal

Canada's Alberta province has approached Rongsheng Petrochemical (SHE:002493) on a proposal to buy oil from a planned million-barrel-a-day pipeline to British Columbia, Bloomberg reported Friday, citing people familiar with the matter.The Chinese refinery is already the largest buyer of crude from Canada's Trans Mountain Pipeline, the country's sole West Coast route for crude that runs from Edmonton, Alberta.Alberta's provincial government is yet to finalize the new project, with plans to announce details by July. Construction could begin as early as late next year following federal approval, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

SHE:002493
Asia

Rongsheng Petrochemical 2025 Profit Up 17%; Shares Rise 3%

Rongsheng Petrochemical (SHE:002493) posted 2025 attributable net profit of 848.3 million yuan, up 17% from 724.5 million yuan the previous year.Earnings per share rose to 0.09 yuan from 0.08 yuan, according to a Tuesday filing with the Shenzhen bourse.Revenue declined 5.5% year over year to 308.6 billion yuan from 326.5 billion yuan.Shares of the petrochemical company rose 3% in recent trade.

SHE:002493
Asia

Rongsheng Petrochemical Q1 Profit Jumps 378%; Shares Up 3%

Rongsheng Petrochemical (SHE:002493) posted first-quarter attributable net profit of 2.82 billion yuan, up 378% from 588.4 million yuan the previous year.Earnings per share rose to 0.29 yuan from 0.06 yuan, according to a Tuesday filing with the Shenzhen bourse.Revenue declined 19% year over year to 60.6 billion yuan from 75.0 billion yuan.Shares of the petrochemical company rose 3% in recent trade.

SHE:002493

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