Sinopec Shanghai Petrochemical Reports Plummeting Q3 Profits

Sinopec Shanghai Petrochemical Co (HK:0338) has released an update.

Sinopec Shanghai Petrochemical Company Limited reported a significant drop in net profit for the third quarter of 2024, with a 97.53% decline compared to the same period last year. Despite a 9.87% decrease in revenue, the company managed to maintain positive cash flow from operating activities. This performance highlights challenges in the petrochemical sector, posing potential concerns for investors and stakeholders.

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