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Sinopec Shanghai Petrochemical Co
(0338)
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Rating:45Neutral
Price Target:
HK$1.00
▼(-26.47% Downside)
Action:Reiterated
Date:06/04/26
The score is held down primarily by weak financial performance—loss-making TTM results and negative operating/free cash flow—despite a relatively conservative balance sheet. Technicals are mixed with a short-term rebound but still-bearish longer-term trend signals, and valuation is limited by the negative P/E with only modest support from the dividend yield.
Positive Factors
Integrated refinery‑petrochemical model
Vertical integration lets the company internally allocate intermediates between refining and petrochemicals to capture by-product value and tilt output to higher-margin lines. This structural flexibility improves economics versus standalone players and supports margin optimisation across commodity cycles.
Negative Factors
Reversion to net losses
Returning to net losses and negative operating profit means the company is not earning acceptable returns on its capital base. Sustained losses erode equity, limit internal funding for capex or dividends, and force management into cost cuts or strategic tradeoffs to restore profitability over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated refinery‑petrochemical model
Vertical integration lets the company internally allocate intermediates between refining and petrochemicals to capture by-product value and tilt output to higher-margin lines. This structural flexibility improves economics versus standalone players and supports margin optimisation across commodity cycles.
Read all positive factors
Sinopec Shanghai Petrochemical Co (0338) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$28.30B
Dividend Yield1.65%
Average Volume (3M)10.31M
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue Growth-13.85%
EPS Growth-626.58%
CountryHK
Employees7,124
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)-0.10
Shares Outstanding3,213,804,000
10 Day Avg. Volume11,500,109
30 Day Avg. Volume10,308,837
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.56
Price to Sales (P/S)0.21
P/FCF Ratio-11.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)<0.01
Revenue Forecast (FY)HK$74.59B
Sinopec Shanghai Petrochemical Co Business Overview & Revenue Model
Company Description
Sinopec Shanghai Petrochemical Company Limited, along with its affiliated entities, is primarily engaged in the production and distribution of petroleum-derived goods throughout the People's Republic of China. Its operations are organized into fiv...
How the Company Makes Money
The company makes money primarily by converting hydrocarbon feedstocks (mainly crude oil and other refinery/petrochemical feedstocks) into higher-value products and selling them to customers in energy, industrial, and consumer end markets.
1) Ref...
Sinopec Shanghai Petrochemical Co Earnings Call Summary
Earnings Call Date:Aug 20, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Aug 26, 2026
Earnings Call Sentiment Negative
While the company demonstrated advancements in R&D and significant improvements in safety and environmental compliance, the financial performance was marred by a significant decrease in turnover, profits, and production in key areas, alongside inventory impairments and increased liabilities.Positive Updates
Increase in Chemical Product Demand
Chemical products increased by 27.9% Year-over-Year (YoY), with ethylene up 20.29% and butadiene up 28.47%.
Negative Updates
Decrease in Turnover and Profits
Turnover decreased by 9.17% YoY to CNY39.5 billion. Profit before tax was a loss of CNY583 million compared to a profit of CNY12.43 million in the prior period.
Read all updates
Q2-2025 Updates
Positive
Negative
Increase in Chemical Product Demand
Chemical products increased by 27.9% Year-over-Year (YoY), with ethylene up 20.29% and butadiene up 28.47%.
Read all positive updates
Company Guidance
During Sinopec Shanghai Petrochemical Co.'s 2025 Interim Results Conference, the company provided comprehensive guidance on their financial performance and strategic initiatives. Key financial metrics highlighted include a turnover of CNY39.5 billion, a decline of 9.17% year-on-year, and a profit before tax of minus CNY583 million, compared to a profit of CNY12.43 million in the previous year. The net profit attributable to the parent company was minus CNY449 million, translating to earnings per share of minus CNY0.04. The company's assets and liabilities experienced marginal growth, with total assets increasing by 0.5% to CNY41,896 million and total liabilities rising by 5.72% to CNY17,502 million. Capital expenditures for the first half of 2025 stood at CNY408 million, primarily allocated to efficiency improvement projects. Looking forward to the second half of the year, the company plans to continue its focus on safety, operational optimization, innovation, and transformation, with an adjusted capital expenditure target of around CNY2 billion. Despite the challenging external environment, including geopolitical tensions and fluctuating crude oil prices, the company remains committed to enhancing its operational efficiency and pursuing high-quality development projects.Sinopec Shanghai Petrochemical Co Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
68
Positive
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 61.76B | 62.35B | 87.13B | 93.01B | 72.65B | 75.89B |
| Gross Profit | -62.53M | -1.78B | 15.09B | 13.86B | -3.61B | 1.59B |
| EBITDA | -6.11B | -53.70M | 2.37B | 167.00M | -1.99B | 4.31B |
| Net Income | -1.10B | -1.57B | 316.50M | -1.41B | -2.84B | 2.00B |
Balance Sheet | ||||||
| Total Assets | 42.26B | 39.83B | 41.77B | 39.66B | 41.14B | 46.92B |
| Cash, Cash Equivalents and Short-Term Investments | 6.96B | 7.85B | 12.10B | 5.61B | 4.58B | 13.55B |
| Total Debt | 2.93B | 819.93M | 1.57B | 3.71B | 2.27B | 2.26B |
| Total Liabilities | 17.63B | 16.59B | 16.62B | 14.72B | 14.78B | 16.54B |
| Stockholders Equity | 23.54B | 23.13B | 25.04B | 24.82B | 26.23B | 30.24B |
Cash Flow | ||||||
| Free Cash Flow | -5.54B | -1.18B | 5.83B | -808.37M | -10.30B | 725.96M |
| Operating Cash Flow | -2.47B | 1.99B | 7.74B | 807.00M | -7.46B | 3.95B |
| Investing Cash Flow | -5.35B | -1.58B | -2.05B | 1.98B | 4.39B | -2.36B |
| Financing Cash Flow | 1.49B | -1.10B | -2.39B | 1.22B | -1.17B | -3.39B |
Sinopec Shanghai Petrochemical Co Technical Analysis
Negative
1.36
Price Trends
1.22
Negative
1.34
Negative
1.36
Negative
Market Momentum
-0.03
Positive
36.09
Neutral
7.94
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0338, the sentiment is Negative. The current price of 1.36 is above the 20-day moving average (MA) of 1.18, above the 50-day MA of 1.22, and above the 200-day MA of 1.36, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 36.09 is Neutral, neither overbought nor oversold. The STOCH value of 7.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0338.
Sinopec Shanghai Petrochemical Co Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | HK$55.71B | 9.01 | 7.88% | 4.58% | 3.72% | -10.43% | |
49 Neutral | HK$623.66M | -15.35 | 4.05% | ― | -14.14% | -59.17% | |
47 Neutral | HK$160.08M | -5.26 | -24.82% | ― | -29.86% | -791.02% | |
45 Neutral | HK$28.30B | -33.14 | -3.91% | 1.65% | -13.85% | -626.58% | |
43 Neutral | HK$89.10M | -4.55 | -38.78% | ― | 8.93% | 15.69% |
* Energy Sector Average
HK:0338
Sinopec Shanghai Petrochemical Co
1.10
-0.17
-13.39%
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0.13
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-18.01%
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0.17
0.00
0.00%
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0.02
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0.09
28.12%
Sinopec Shanghai Petrochemical Co Corporate Events
Sinopec Shanghai Petrochemical Reports Strong Turnout at 2025 AGM and 2026 Shareholder Meetings
Jun 26, 2026
Sinopec Shanghai Petrochemical reported that its 2025 annual general meeting and the first A and H shareholders’ meetings for 2026 were duly convened on 26 June 2026 in Shanghai, with no objections raised to any of the resolutions. The meeti...
Sinopec Shanghai Petrochemical Updates Board and Committee Roles
Jun 26, 2026
Sinopec Shanghai Petrochemical has announced the current composition of its board of directors, detailing executive, non-executive, employee, and independent non-executive members. The company also outlined the structure of its four key board comm...
Sinopec Shanghai Petrochemical drops board candidate from 2025 AGM vote
Jun 18, 2026
Sinopec Shanghai Petrochemical Company Limited has cancelled a proposed resolution at its 2025 annual general meeting that would have elected Mr. Huang Jiangdong as an independent director, citing the need for additional information and the protec...
Sinopec Shanghai Petrochemical Sets 2025 AGM to Decide Board, Buyback and Financing Mandates
Jun 5, 2026
Sinopec Shanghai Petrochemical Company Limited has called its 2025 annual general meeting for 26 June 2026 in Shanghai, where shareholders will review the 2025 work report and profit distribution plan, as well as remuneration reports and measures ...
Sinopec Shanghai Petrochemical Calls 2026 H Shareholders’ Meeting on Share Buyback Mandate
Jun 5, 2026
Sinopec Shanghai Petrochemical has convened its first H shareholders’ meeting for 2026 to be held in Shanghai on 26 June 2026, with holders of H shares as of 23 June 2026 eligible to attend or vote by proxy. The key agenda is a special resol...
Sinopec Shanghai Petrochemical Flags Abnormal Surge in A-Share Trading
Jun 4, 2026
Sinopec Shanghai Petrochemical said its A-shares experienced abnormal price fluctuations after the stock’s closing price rose more than 20% cumulatively over three consecutive trading days from 2 to 4 June 2026. Under Shanghai Stock Exchange...
Sinopec Shanghai Petrochemical Proposes New Board Line-Up for Twelfth Session
May 29, 2026
Sinopec Shanghai Petrochemical has proposed a new slate of directors for the twelfth session of its board, to be elected at the company’s 2025 annual general meeting. The proposed line-up includes five non-independent directors and five inde...
Sinopec Shanghai Petrochemical Posts Strong Q1 2026 Volumes Amid Mixed Pricing Trends
Apr 29, 2026
Sinopec Shanghai Petrochemical Company Limited reported its major operating data for the first quarter of 2026, highlighting substantial production and sales across refined oil and chemical products. The group produced and sold significant volumes...
Sinopec Shanghai Petrochemical Swings to Q1 Profit Despite Revenue Decline
Apr 29, 2026
Sinopec Shanghai Petrochemical Company Limited reported its unaudited first-quarter 2026 results prepared under China Accounting Standards, showing a return to profitability despite lower revenue. Operating income fell 9.52% year on year to RMB 17...
Sinopec Shanghai Petrochemical Sets Board Meeting to Approve Q1 2026 Results
Apr 15, 2026
Sinopec Shanghai Petrochemical Company Limited has scheduled a board meeting for 29 April 2026 to review and approve the group’s first-quarter results for the period ended 31 March 2026. The board may also address other corporate matters at ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.