SINOPEC Shangai Petrochemical Company (SNP)

SUMMARY

BULLS

BEARS

DATA CENTRAL

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Sinopec announces a 14.42 percent increase in turnover Sinopec announced the results for the six-month period ending June 30, 2007. The profit after tax of the company increased from RMB 1,779.9 million in the same period last year to RMB 1,785.6 million. Further, the turnover of the company was RMB 26,820.2 million; an increase of 14.42 percent on y-o-y basis. Chinese Economy With China's low-interest-rate and cheap-currency policies, Chinese stocks are rocketing. SPC's rise can be attributed to how much SPC should/will benefit from the growing Chinese economy and investor speculation. Speculation about Privatization Investors speculate as hype builds of further privatization of SPC. SPC Looks for Investors for Ethylene Project SPC looks for foreign investment partners in $1.9 billion ethylene project plant project at the WuhanPetrochemical complex.

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