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May 27pennbattle32500dx, Tongkun shares received a buy rating from Soochow Securities. In the past month, Tongkun shares received attention from 13 research reports.
The research report predicts that the company will adjust Taikun Petrochemical's Indonesian North Canada Refining and Chemical Integration Projectpennbattle32500dxWith the equity structure, investment amount and project scale, the company's penetration shareholding ratio will be increased to 80%. The overall scale of the project has been reduced, but the proportion of olefins has increased. In addition, the share of Indonesia and ASEAN markets increased. At the same time, the total investment in the project and the total refining scale have decreased, but the company's shareholding ratio has increased, and the corresponding equity refining scale has increased from 7.22 million tons to 8 million tons. The company's control over Indonesian projects has been further enhanced. After the adjustment, the company's chemical structure will be more balanced, and downstream products will be closer to Indonesia and ASEAN markets. It is expected to further strengthen location advantages and enhance project competitiveness.
The research report believes that the strategic adjustment of Tongkun shares will help the smooth progress of the project. Although the adjusted refining scale and investment amount have been reduced, the company's shareholding ratio and equity scale have increased, the layout of chemical products has become more balanced, and downstream products are more suitable for the Indonesian and ASEAN markets, thus further enhancing the competitiveness of the project.
Risk warning: Demand recovery falls short of expectations, raw material prices fluctuate, project approval or implementation progress is delayed, and competition in the refining and chemical market intensifies.