HK Stock Market Move | Sinopec Shanghai Petrochemical (00338) falls more than 5%, expected to turn from profit to loss by up to 15.76 billion yuan in 2025.

Sinopec Shanghai Petrochemical (00338) fell more than 5%, dropping 5.26% to HK$1.44 as of the time of writing, with a trading volume of HK$17.548 million. On the news front, SHANGHAI PECHEM announced that it is expected to incur a net loss attributable to shareholders of the parent company of approximately RMB 1.289 billion to RMB 1.576 billion for the year ending December 31, 2025, compared to a loss in the same period of 2024; and a net loss attributable to shareholders of the parent company excluding non-recurring gains of approximately RMB 1.280 billion to RMB 1.564 billion, compared to a loss in the same period of 2024. The announcement stated that the group is expected to incur losses in 2025 mainly due to the overall downward fluctuation in international crude oil prices, no significant improvement in product market demand, reduction in gross profit margin for the group's main refining products, combined with the impact of major maintenance of production facilities in the fourth quarter, a decrease in overall commodity volume, all of which have led to operational losses for the group.