Sinopec Shanghai Petrochemical Reports 2024 Profit Turnaround

Sinopec Shanghai Petrochemical Co Class H ( (SPTJF) ) has released its Q4 earnings. Here is a breakdown of the information Sinopec Shanghai Petrochemical Co Class H presented to its investors.

Sinopec Shanghai Petrochemical Co., a key player in the petrochemical industry, specializes in producing a wide range of petroleum and chemical products, primarily serving the rapidly growing Eastern China market. The company recently announced its 2024 annual results, highlighting a return to profitability with a net profit attributable to equity shareholders of RMB316.5 million under CAS, following a challenging previous year. Key financial metrics showed improvement, with a total profit of RMB428.8 million and a significant increase in net cash flow from operating activities to RMB7.74 billion. The company also declared a final dividend of RMB0.02 per share, pending approval at the upcoming AGM. Despite a decrease in operating income by 6.32% to RMB87.13 billion, the company managed to turn around its financial performance through strategic cost management and operational optimization. Looking ahead, Sinopec Shanghai Petrochemical remains focused on high-quality development, leveraging its refining and chemical integration strengths, and pursuing green and low-carbon transformation initiatives to sustain growth in the evolving petrochemical landscape.