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研報掘金丨東吳證券:中國石化煉化一體化產業鏈優勢明顯,維持“買入”評級
格隆匯 03-26 15:04

東吳證券研報指出,中國石化(600028.SH)歸母淨利潤503億元(同比-17%),Q4歸母淨利潤60.7億元(同比-19.1%,環比-29%)。上遊板塊盈利增加:2024年,勘探及開發板塊經營利潤491億元,同比+111億元(同比+29%)。下遊煉油&化工板塊景氣度尚未恢復。受出行需求恢復,航煤消費量增加;成品油總銷量23933萬噸,同比+28萬噸(同比持平)。公司注重股東回報:公司2024年淨利潤503億元,2024年全年派息0.286元/股,現金分紅347億元。看好油價基本見底下,公司下遊煉化板塊盈利提升,且公司煉化一體化產業鏈優勢明顯,維持“買入”評級。

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