SHANGHAI PECHEM(00338) announces annual performance, shareholders' net loss of 1.433 billion yuan, turning from profit to loss year-on-year.

SHANGHAI PECHEM (00338) announced its annual performance for 2025, with the group achieving a revenue of 75.513 billion yuan (same unit), a decrease of 13.26% compared to the previous year. The net loss attributable to the parent company's shareholders was 1.433 billion yuan, a turnaround from a profit to a loss compared to the previous year, with a loss per share of 0.153 yuan. The announcement stated that in 2025, the group's refining product sales volume decreased by 9.62% compared to the previous year, leading to a decline in the group's operating income compared to the previous year. In 2025, the changing external environment deepened the impact, and internal contradictions between strong supply and weak demand became more prominent. Sinopec Shanghai Petrochemical vigorously promoted various work areas and achieved new results in safety and environmental protection, production and operation, transformation and development, technological innovation, and deepening reform. Throughout the year, the group processed a total of 12.6125 million tons of crude oil (including 1.0344 million tons of tolling processing), a decrease of 5.49% compared to the previous year, producing 7.8418 million tons of refined oil, a decrease of 9.34%; the total quantity of main products was 11.2299 million tons, a decrease of 4.36%. The group's operating revenue was 75.513 billion yuan, a decrease of 13.26%. The product sales rate was 99.59%, and the accounts receivable recovery rate was 99.79% (excluding related and internal enterprises), with product quality continuing to maintain high stability. In 2025, international crude oil prices fluctuated downward, and the overall performance of the Petrochina chemical industry showed a slightly weak trend, with most product prices under pressure and significant structural differentiation. As of December 31, 2025, the weighted average prices (excluding taxes) of the group's refining and chemical products decreased by 8.31% and 13.36%, respectively, compared to the previous year. In 2025, the group processed a total of 12.6125 million tons of crude oil, a decrease of 5.49% compared to the previous year. The total cost of crude oil processing in 2025 was 3,872.30 yuan per ton, a decrease of 409.88 yuan per ton compared to the previous year, a decrease of 9.57%. The total cost of crude oil processing for the year decreased by 5.951 billion yuan compared to the previous year, a decrease of 11.72%, accounting for 68.10% of the total sales cost.