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Sinopec Shanghai Petrochemical Co ( (HK:0338) ) has provided an update.
Sinopec Shanghai Petrochemical Company Limited has issued a positive profit warning for its 2024 annual results, forecasting a net profit of approximately RMB253 million to RMB379 million, reflecting a significant turnaround from the previous year’s loss. This improved financial performance is attributed to the stabilization of international oil prices and the company’s optimization of production operations and product structure, which have enhanced gross profit margins.
More about Sinopec Shanghai Petrochemical Co
Sinopec Shanghai Petrochemical Company Limited is a joint stock limited company incorporated in the People’s Republic of China, operating within the petrochemical industry. The company primarily focuses on the production and sale of petroleum products, petrochemicals, and other chemical products.
YTD Price Performance: 3.57%
Average Trading Volume: 38,131
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.28B
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