SHANGHAI PECHEM (00338) released its interim results, with a net profit attributable to shareholders of 300 million yuan.

SHANGHAI PECHEM (00338) has released its semi-annual report for 2026, reporting revenue of 38.992 billion yuan, a year-on-year decrease of 1.34%; net profit attributable to shareholders of the parent company was 300 million yuan, compared to a loss of 462 million yuan in the same period last year; basic earnings per share were 0.028 yuan. In the first half of 2026, influenced by the U.S.-Israel-Iran conflict, international oil prices have experienced wide and severe fluctuations, and the petrochemical industry has faced unexpected shocks and challenges in terms of costs, demand, and capacity adjustments. Under these circumstances, the Group actively promoted safety, environmental protection, efficiency improvements, and project construction, achieving a turnaround from loss to profit in the first half of the year. In the first half of 2026, the Group's total production of main products was 4.9398 million tons, a decrease of 11.42% compared to the same period last year. The Group processed a total of 5.682 million tons of crude oil (including 458,100 tons of processing for others), a decrease of 10.16% year-on-year. The production of refined oil was 3.482 million tons, down 12.80% year-on-year, of which gasoline production was 1.4396 million tons, down 13.70%; diesel was 1.1154 million tons, down 6.95%; and jet fuel was 926,900 tons, down 17.68%. Ethylene production was 327,300 tons, an increase of 19.79%; para-xylene was 338,300 tons, down 4.14%; and production of plastic resins and copolymers was 453,500 tons, down 0.91%. Production of synthetic fibers was 14,100 tons, down 2.61%. In the first half of the year, the Group's product sales-to-production rate was 100.87%, and the collection rate of accounts receivable (excluding related and internal companies) was 100.03%.