前十大流通股东累计持有： 900812.84万股，累计占流通股比： 85.16%，较上期变化： -5561.06万股。 | 名称 | 持有数量(万股) | 占总股本比例 | 增减情况(万 | | --- | --- | --- | --- | | | | (%) | 股) | | 中国石油化工股份有限公司 | 546215.50 | 51.63 | 270.00 | | 香港中央结算(代理人)有限公司 | 320721.58 | 30.32 | -9611.70 | | 香港中央结算有限公司 | 9231.96 | 0.87 | 3437.60 | | 张沐城 | 4818.98 | 0.46 | 617.16 | | 银华基金-农业银行-银华中证金融资产管理计划 | 3674.13 | 0.35 | 不变 | | 南方基金-农业银行-南方中证金融资产管理计划 | 3640.25 | 0.34 | 不变 | | 广发基金-农业银行-广发中证金融资产管理计划 | 3482.71 | 0.33 | 不变 | | 大成基金-农业银行-大成中证金融资产管理计划 | 3383.73 | 0.32 | 不变 | | 中国 ...

Financial Performance - The net profit attributable to the shareholders of the parent company for 2024 is RMB 316,500 thousand, a significant recovery from a loss of RMB 1,405,876 thousand in 2023[7]. - Total revenue for 2024 is RMB 87,132,820 thousand, representing a decrease of 6.32% compared to RMB 93,013,595 thousand in 2023[20]. - The company reported a total profit of RMB 428,835 thousand for 2024, a significant turnaround from a loss of RMB 1,715,136 thousand in 2023[20]. - Basic earnings per share for 2024 is RMB 0.030, a significant improvement from a loss of RMB 0.130 in 2023[22]. - The weighted average return on equity increased to 1.270% in 2024 from a loss of 5.504% in 2023, representing an increase of 6.77 percentage points[22]. - The company recorded a net profit attributable to shareholders of RMB 310.98 million in 2024, compared to a loss of RMB 1,346.15 million in 2023[30]. - The company reported a net profit of RMB 317.00 million for 2024, recovering from a loss of RMB 1,349.31 million in 2023[30]. - The company's total revenue for the year ended December 31, 2024, was RMB 87.13 billion, a decrease of 6.32% compared to RMB 93.01 billion in 2023[111]. Cash Flow and Assets - The operating cash flow for 2024 shows a substantial increase to RMB 7,740,447 thousand, up 859.17% from RMB 806,996 thousand in 2023[20]. - The total assets at the end of 2024 amount to RMB 41,769,339 thousand, reflecting a growth of 5.32% from RMB 39,658,244 thousand at the end of 2023[20]. - The net assets attributable to the shareholders of the parent company increased by 0.87% to RMB 25,040,254 thousand at the end of 2024, compared to RMB 24,824,929 thousand at the end of 2023[20]. - The total cash inflow from operating activities for 2024 was RMB 76.24 billion, an increase of RMB 69.6 billion compared to RMB 6.64 billion in the previous year[92]. - The company's total assets as of December 31, 2024, amounted to RMB 41,800,000 thousand, with cash and cash equivalents at RMB 12,096,477 thousand, representing 28.96% of total assets[135]. - The company reported a 115.74% increase in cash and cash equivalents compared to the previous year[135]. Dividends and Profit Distribution - The company plans to distribute a final dividend of RMB 0.02 per share for the 2024 fiscal year, pending approval at the annual general meeting[7]. - The profit distribution plan for 2024 includes a cash dividend of RMB 0.02 per share, pending approval at the annual shareholders' meeting[172]. - The company has a cash dividend policy that mandates a minimum of 30% of the annual net profit to be distributed as cash dividends if certain conditions are met[170]. - The total cash dividends distributed over the last three accounting years amount to RMB 211.58 million, with an average net profit attributable to shareholders of RMB -1.32 billion during the same period[176]. Operational Efficiency and Cost Management - The total cost of sales and expenses for 2024 was RMB 74.23 billion, a decrease of 9.28% from RMB 81.83 billion in 2023[74]. - The company has implemented cost reduction strategies across various operations, including crude oil procurement and logistics management, to improve profitability[52]. - The company's total operating costs for 2024 were RMB 72.05 billion, down 8.99% from RMB 79.16 billion in 2023, primarily due to a decline in the sales volume of petrochemical products[119]. - The company achieved significant breakthroughs in safety production, turning losses into profits, and high-quality development[47]. Market and Product Development - The company emphasizes its commitment to enhancing product quality and variety while focusing on new product development and market expansion[18]. - The company plans to continue focusing on market expansion and new product development to drive future growth[22]. - The company is actively adjusting its product structure to meet the growing demand for petrochemical products in China[18]. - The company anticipates a decline in gasoline and diesel consumption in 2025 due to increased competition and market saturation[146]. Environmental and Safety Initiatives - The company achieved a 100% compliance rate for wastewater discharge and hazardous waste disposal in 2024[180]. - The company reported a total environmental tax payment of RMB 11.066 million to the Jinshan District Tax Bureau in 2024[181]. - The company successfully repaired 8,707 out of 8,971 detected leakage points, resulting in a cumulative repair rate of 97.06%[180]. - The company reduced carbon emissions by 89,053 tons through various measures in 2024[190]. - The company purchased 17.789 million kWh of green electricity, reducing carbon emissions by 74,714 tons[191]. - The company generated 1.333 million kWh of solar power, leading to a reduction of 5,599 tons of carbon emissions[191]. - The company maintained a 100% compliance rate for air pollutant emissions across all major pollution facilities in 2024[180]. - The company completed environmental impact assessments for seven new projects in 2024[186]. Research and Development - Research and development expenses for 2024 amounted to RMB 1.74 billion, compared to RMB 1.87 billion in 2023 and RMB 1.31 billion in 2022[96]. - The company has 153 R&D personnel, accounting for 2.17% of the total workforce[126]. - The company is involved in the development of high-strength carbon fiber technology, with a total funding requirement of RMB 114.75 million for various research projects[200]. Related Party Transactions - The company has engaged in related party transactions with its controlling shareholder, Sinopec Corp, which may impact its business and economic benefits[164]. - Sinopec Corp holds approximately 54.59 billion shares, representing 51.14% of the total shares, indicating a controlling interest that may affect the company's operations[165]. - The company confirmed that all related party transactions were conducted at market prices or according to national pricing policies, ensuring no significant impact on its independence[198]. - The company's financial services transactions with Sinopec Group's contacts amounted to RMB 4.86 million, representing only 1.57% of the maximum limit[196]. - The maximum limit for comprehensive service framework agreements was RMB 1,542 million, with actual transactions for construction and engineering design services amounting to RMB 116.928 million, or 16.93% of the limit[196]. Future Outlook - For 2025, the company plans to process a total of 13.1 million tons of crude oil, producing 8.39 million tons of refined oil, 622,200 tons of ethylene, and 688,000 tons of paraxylene[149]. - The company will invest approximately RMB 2.85 billion in capital expenditures for 2025, funded through financing activities and some self-owned funds[158]. - The company aims to become a "domestically leading, world-class" energy chemical and new materials company, focusing on low-cost upstream and high-value downstream operations[147]. - The company plans to focus on innovation by transitioning from refining to chemicals, then to materials, and finally to high-end products, while also promoting ecological development[152].

Financial Performance - The net profit attributable to shareholders for 2024 is RMB 316,500 thousand according to Chinese accounting standards, and RMB 310,980 thousand according to International Financial Reporting Standards[5]. - In 2024, the company's operating revenue was RMB 87,132,820 thousand, a decrease of 6.32% compared to RMB 93,013,595 thousand in 2023[25]. - The total profit for 2024 was RMB 428,835 thousand, a significant recovery from a loss of RMB 1,715,136 thousand in 2023[25]. - The net profit attributable to shareholders of the parent company was RMB 316,500 thousand, compared to a loss of RMB 1,405,876 thousand in the previous year[25]. - The company's basic earnings per share for 2024 was RMB 0.030, recovering from a loss of RMB 0.130 in 2023[25]. - The company's total sales revenue for 2024 was RMB 74.282 billion, a decrease of 7.24% compared to RMB 80.078 billion in 2023[59]. - The company's operating profit for 2024 was RMB 49.18 million, compared to an operating loss of RMB 1.753 billion in 2023[57]. - The net profit for the year was RMB 317 million, a significant recovery from a loss of RMB 1.349 billion in 2023[57]. - The company's total revenue for 2024 was RMB 87.13 billion, a decrease of 6.32% compared to RMB 93.01 billion in 2023[92]. Dividends and Shareholder Returns - The proposed final dividend for 2024 is RMB 0.02 per share (including tax), pending approval at the annual general meeting[5]. - The company will distribute the final dividend to H shareholders in Hong Kong dollars, calculated based on the average closing exchange rate prior to the dividend declaration date[6]. Audit and Compliance - The company has received standard unqualified audit reports from KPMG for financial statements prepared under both Chinese and International accounting standards[7]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[8]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors[8]. - The annual report is prepared in both Chinese and English, with the Chinese version prevailing in case of discrepancies[10]. Risk Management - The company has detailed potential risks in its report, which investors are advised to review[9]. - The company is subject to risks associated with currency fluctuations, particularly the depreciation of the RMB against foreign currencies, which could increase costs and impact profitability[137]. - The company faces risks related to environmental regulations that may lead to additional expenditures if stricter standards are implemented[136]. - The company's revenue is significantly affected by the cyclical nature of the oil and petrochemical markets, which are sensitive to macroeconomic conditions and consumer demand[133]. Operational Highlights - The company processed a total of 13.35 million tons of crude oil in 2024, a decrease of 5.48% year-on-year[42]. - The average processing cost of crude oil was RMB 4,282.18 per ton, a reduction of RMB 76.25 per ton, or 1.75% compared to the previous year[44]. - The company achieved a product sales rate of 99.89% and a cash collection rate of 100%[42]. - The company reported a total non-recurring loss of RMB 21.50 million in 2024, an improvement from a loss of RMB 40.36 million in 2023[37]. Cash Flow and Financial Position - The net cash flow from operating activities increased dramatically to RMB 7,740,447 thousand, up 859.17% from RMB 806,996 thousand in 2023[25]. - The total assets at the end of 2024 were RMB 41,769,339 thousand, reflecting a 5.32% increase from RMB 39,658,244 thousand in 2023[25]. - The company's total liabilities at the end of 2024 were RMB 16,554.84 million, an increase from RMB 14,635.34 million in 2023[29]. - The debt-to-asset ratio as of December 31, 2024, was 39.71%, up from 36.99% in 2023[80]. - The company's cash flow from operating activities showed a substantial increase, reaching RMB 7.74 billion, compared to RMB 806.996 million in the previous year, marking an increase of 859.17%[92]. Research and Development - The research and development expenses for 2024 were RMB 174 million, a decrease from RMB 187 million in 2023[81]. - The company employed 153 R&D personnel, representing 2.17% of the total workforce, with a significant portion holding advanced degrees[102]. - The company's research and development expenses totaled RMB 173,953, accounting for 0.20% of total revenue[102]. Environmental and Safety Initiatives - The company has implemented strict safety production measures, resulting in a 9.90% decrease in average VOCs concentration to 65.14 micrograms per cubic meter[45]. - The company is committed to energy-saving and carbon reduction initiatives, aligning with national policies aimed at improving energy efficiency and reducing emissions[143]. - The company emphasizes the importance of safety and environmental responsibility in its operations[128]. Future Outlook and Strategy - The company plans to process a total of 13.1 million tons of crude oil and produce 8.39 million tons of refined oil in 2025[128]. - The company aims to produce 622,200 tons of ethylene and 688,000 tons of paraxylene in 2025[128]. - The company is committed to transitioning from refining to chemicals, from chemicals to materials, and from materials to high-end products[130]. - The company aims to enhance its competitive capabilities by leveraging its diverse product chain and proximity to the market[127]. Related Party Transactions - The company confirmed that all related party transactions were conducted at market prices and did not significantly affect its independence[185]. - The independent non-executive directors reviewed the related party transactions and confirmed their compliance with the company's pricing policies[185]. - Related party transactions with Sinopec Group and its subsidiaries were disclosed in accordance with Hong Kong Listing Rules, with transaction percentages exceeding 0.1% but below 5%[189].

Financial Performance Expectations - The company expects a net profit attributable to shareholders of approximately RMB 253 million to RMB 379 million for the year ending December 31, 2024, indicating a turnaround from a loss in the previous year[4]. - The estimated net profit excluding non-recurring gains and losses is expected to be between RMB 270 million and RMB 405 million, also reflecting a turnaround from the previous year's loss[6]. - The previous year's net profit attributable to shareholders was a loss of RMB 1.41 billion[5]. Reasons for Turnaround - The main reasons for the expected turnaround include a decline in international oil prices, gradual recovery in market demand, and continuous optimization of production operations and product structure, leading to an increase in product gross margin[8]. Forecast Validity - The company emphasizes that the above forecasts are preliminary and subject to final confirmation in the 2024 annual report[10]. - There are no significant uncertainties affecting the accuracy of this earnings forecast[9].

证券时报•数据宝统计，上海石油化工股份在港交所公告显示，1月2日以每股1.170港元至1.200港元的价 格回购254.40万股，回购金额达302.94万港元。 该股当日收盘价1.180港元，下跌1.67%，全天成交额2964.77万港元。 （数据宝） 上海石油化工股份回购明细 ...

Financial Performance - The company's operating revenue for Q3 2024 was CNY 22,462,479 thousand, a decrease of 9.87% compared to the same period last year[3]. - Net profit attributable to shareholders was CNY 6,627 thousand, down 97.53% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 13,632 thousand, a decrease of 95.22% compared to the previous year[3]. - The basic earnings per share for the reporting period was CNY 0.001, a decrease of 96.00% year-on-year[3]. - The diluted earnings per share for the reporting period was also CNY 0.001, reflecting the same percentage decrease[3]. - Total operating revenue for the first three quarters of 2024 was CNY 65,995,285, a decrease of 5.4% compared to CNY 69,859,201 in the same period of 2023[15]. - Net profit for the first three quarters of 2024 reached CNY 39,916, compared to a net loss of CNY 716,658 in the same period of 2023, marking a significant turnaround[15]. - Operating profit for the first three quarters of 2024 was CNY 93,067, compared to an operating loss of CNY 771,134 in the same period of 2023[15]. - The company reported a total comprehensive income of CNY 48,476 for the first three quarters of 2024, compared to a total comprehensive loss of CNY 674,048 in the same period of 2023[16]. - Earnings per share for the first three quarters of 2024 were CNY 0.003, compared to a loss per share of CNY -0.067 in the same period of 2023[16]. Cash Flow and Assets - The net cash flow from operating activities was CNY 10,083,631 thousand, with no applicable year-on-year comparison[3]. - Cash flow from operating activities generated a net amount of CNY 10,425,601 in the first three quarters of 2024, compared to a negative cash flow of CNY 888,316 in the same period of 2023[17]. - Cash and cash equivalents increased to RMB 15,375,779,000 from RMB 5,607,013,000, representing a growth of approximately 173.5%[13]. - Cash and cash equivalents at the end of the third quarter of 2024 totaled CNY 11,516,382, up from CNY 5,742,344 at the end of the same period in 2023[18]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 45,189,264 thousand, an increase of 13.95% from the end of the previous year[4]. - Current assets reached RMB 24,370,107,000, up from RMB 15,454,832,000, indicating a significant increase of about 57.5%[13]. - Total liabilities rose to RMB 20,353,797,000 from RMB 14,715,337,000, marking an increase of about 38.5%[14]. - The company's equity attributable to shareholders decreased slightly to RMB 24,731,866,000 from RMB 24,824,929,000, a decline of approximately 0.4%[14]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 89,489, with the largest shareholder being Sinopec Limited holding 5,459,455,000 shares, representing 51.14% of total shares[10]. - The second-largest shareholder, Hong Kong Central Clearing (Agent) Limited, held 3,346,317,000 shares, accounting for 31.35%[10]. - The company has no known related party relationships among the top shareholders, ensuring independent shareholder actions[10]. Non-Recurring Items and Expenses - Non-recurring gains and losses for the reporting period totaled CNY -7,005 thousand, with significant impacts from asset disposal losses and other operating income[5]. - Research and development expenses increased to CNY 193,894 in the first three quarters of 2024, up from CNY 112,338 in the same period of 2023, reflecting a focus on innovation[15]. Future Outlook - The company plans to implement new accounting standards starting in 2024, which may impact financial reporting[19].

Financial Performance - The company's operating revenue for Q3 2024 was CNY 22,462,479, a decrease of 9.87% compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2024 was CNY 6,627, reflecting a significant decline of 97.53% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 13,632, down 95.22% from the previous year[3]. - The basic earnings per share for Q3 2024 was CNY 0.001, a decrease of 96.00% compared to the same period last year[3]. - Total operating revenue for the first three quarters of 2024 was CNY 65,995,285, a decrease from CNY 69,859,201 in the same period of 2023, representing a decline of approximately 4.0%[14]. - Total operating costs for the first three quarters of 2024 were CNY 65,902,218, down from CNY 70,630,335 in the previous year, indicating a reduction of about 6.0%[14]. - In Q3 2024, the company reported a net profit of CNY 39,916 thousand, a significant recovery from a net loss of CNY 716,658 thousand in the same period last year[15]. - The company's operating profit reached CNY 93,067 thousand, compared to an operating loss of CNY 771,134 thousand in Q3 2023[15]. - The total comprehensive income for the period was CNY 48,476 thousand, recovering from a comprehensive loss of CNY 674,048 thousand in the previous year[15]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 45,189,264, representing an increase of 13.95% from the end of the previous year[4]. - Total assets reached CNY 45,189,264 as of September 30, 2024, compared to CNY 39,658,244 at the end of 2023, representing an increase of approximately 14.0%[13]. - Total liabilities were CNY 20,353,797 as of September 30, 2024, up from CNY 14,715,337 at the end of 2023, indicating an increase of about 38.5%[13]. - The company's total equity as of September 30, 2024, was CNY 24,835,467, slightly down from CNY 24,942,907 at the end of 2023, a decrease of about 0.4%[13]. Cash Flow - The net cash flow from operating activities for the reporting period was CNY 10,083,631, with a decrease in cash outflow compared to the previous year[7]. - Cash flow from operating activities generated a net inflow of CNY 10,425,601 thousand, a turnaround from a net outflow of CNY 888,316 thousand in the previous year[16]. - Cash and cash equivalents as of September 30, 2024, amounted to CNY 15,375,779, significantly higher than CNY 5,607,013 at the end of 2023, marking an increase of about 174.5%[12]. - Cash and cash equivalents at the end of the period totaled CNY 11,516,382 thousand, up from CNY 5,742,344 thousand at the end of Q3 2023[17]. - Investment activities resulted in a net cash outflow of CNY 1,404,314 thousand, contrasting with a net inflow of CNY 2,354,418 thousand in the same period last year[16]. Shareholder Information - The company reported a total of 89,489 common shareholders at the end of the reporting period[8]. - The largest shareholder, China Petroleum & Chemical Corporation, holds 51.14% of the shares[8]. Research and Development - Research and development expenses increased to CNY 193,894 in 2024 from CNY 112,338 in 2023, reflecting a growth of approximately 72.5%[14]. Sales Performance - The company experienced a decline in sales volume and average prices of petroleum products, impacting overall performance[6]. - Total revenue from sales of goods and services was CNY 71,493,690 thousand, down from CNY 77,343,192 thousand year-over-year[16]. Financial Expenses - The company incurred financial expenses of CNY 125,314 thousand, a decrease from CNY 178,659 thousand in the previous year[15]. Borrowings - The company raised CNY 17,500,000 thousand through borrowings, compared to CNY 24,045,000 thousand in Q3 2023[17].

STEIN 1 1955 TYPE IND the state 8784 半 年 度 報 告 ( 於中學人民共和國註冊成立的股份有限公司 ) 股份代號: 00338 香港 600688 上海 中國百化上海口油化工股份有限公司 SINOPEC SHANGHAI PETROCHEMICAL COMPANY LIMITED 2024 目錄 2 重要提示 3 釋義 4 公司簡介和主要財務指標 6 董事會報告 26 重要事項 40 普通股股份變動及股東情況 45 董事、監事、高級管理人員情況及其他 | --- | --- | |-------|------------------------------------------------------------------| | | | | 50 | 中期財務資料的審閱報告 | | A. | 按照《國際財務報告準則》編製的簡明合併中期財務資料（未經審核） | | 51 | 中期簡明合併利潤表 | | 52 | 中期簡明合併綜合收益表 | | 53 | 中期簡明合併資產負債表 | | 56 | 中期簡明合併股東權益變動表 | | 58 | 中期簡明合併現金流量表 | | ...

[Important Notes](index=1&type=section&id=Important%20Notes) This section provides crucial introductory information regarding the report's nature and the company's basic listing details [Report Summary Explanation](index=1&type=section&id=Report%20Summary%20Explanation) This document provides a summary of the company's 2024 semi-annual report for the six months ended June 30, 2024, with investors advised to consult the full report for comprehensive details - This report is a semi-annual report summary, with detailed content requiring consultation of the full report[1](index=1&type=chunk) [Company Profile](index=1&type=section&id=Company%20Profile) This section provides the company's basic information, including stock listing details on the Shanghai Stock Exchange and Hong Kong Stock Exchange, and contact information for the Board Secretary Company Listing Information | Stock Exchange Listed On | Stock Abbreviation | Stock Code | | :--- | :--- | :--- | | Shanghai Stock Exchange | Shanghai Petrochemical | 600688 | | Hong Kong Stock Exchange | Shanghai Petrochemical Co. | 00338 | [Key Financial Data and Shareholder Information](index=2&type=section&id=Key%20Financial%20Data%20and%20Shareholder%20Information) This section presents the company's primary accounting and financial data, along with details on major shareholders and their equity holdings [Key Accounting Data](index=2&type=section&id=Key%20Accounting%20Data) According to China Enterprise Accounting Standards, the company achieved a significant turnaround in the first half of 2024, with net profit attributable to parent company shareholders of **RMB 27.912 million**, compared to a loss of **RMB 988.277 million** in the same period last year, while operating revenue slightly decreased by **3.12%**, and operating cash flow turned positive, with total assets increasing by **8.28%** from the end of the previous year Key Accounting Data (According to China Enterprise Accounting Standards) | Key Accounting Data | Current Period (Jan-Jun) | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB '000) | 43,532,806 | 44,937,051 | -3.12% | | Net Profit Attributable to Parent Company Shareholders (RMB '000) | 27,912 | -988,277 | Not Applicable (Turned Profit) | | Net Cash Flow from Operating Activities (RMB '000) | 341,970 | -226,882 | Not Applicable (Turned Positive) | | **Asset Status** | **End of Current Period** | **End of Prior Year** | **Period-end vs. Year-start Change (%)** | | Total Assets (RMB '000) | 42,941,617 | 39,658,244 | 8.28% | Key Financial Indicators (According to China Enterprise Accounting Standards) | Key Financial Indicators | Current Period (Jan-Jun) | Prior Year Period | Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/Share) | 0.003 | -0.092 | Not Applicable | | Weighted Average Return on Net Assets (%) | 0.113 | -3.818 | Increased by 3.931 percentage points | - There are differences between financial statements prepared under China Enterprise Accounting Standards and International Financial Reporting Standards, with net profit under international standards (**RMB 2.845 million**) significantly lower than under China standards (**RMB 27.912 million**)[7](index=7&type=chunk) - Non-recurring gains and losses totaled **RMB -33.393 million** during the reporting period, primarily due to other non-operating income and expenses[8](index=8&type=chunk) [Major Shareholder Holdings](index=5&type=section&id=Major%20Shareholder%20Holdings) As of the end of the reporting period, China Petroleum & Chemical Corporation is the controlling shareholder, holding **5,459,455,000 A shares**, accounting for **50.51%** of the company's total share capital, with HKSCC Nominees Limited being the second largest holder with **3,303,196,780 overseas listed foreign shares** Top Five Non-Restricted Shareholders' Holdings | Shareholder Name | Number of Shares Held | Type of Shares | | :--- | :--- | :--- | | China Petroleum & Chemical Corporation | 5,459,455,000 | RMB Ordinary Shares | | HKSCC Nominees Limited | 3,303,196,780 | Overseas Listed Foreign Shares | | Hong Kong Securities Clearing Company Limited | 55,167,595 | RMB Ordinary Shares | | Southern Asset Management - Agricultural Bank of China - Southern CSI Financial Asset Management Plan | 39,031,700 | RMB Ordinary Shares | | GF Fund Management - Agricultural Bank of China - GF CSI Financial Asset Management Plan | 38,039,800 | RMB Ordinary Shares | [Major Shareholder Interests and Short Positions](index=7&type=section&id=Major%20Shareholder%20Interests%20and%20Short%20Positions) This section discloses the interests and short positions of major shareholders (holding **5%** or more) in the company's shares as per the Securities and Futures Ordinance, with China Petroleum & Chemical Corporation holding a **51.14%** long position in A shares, and details also provided for Corn Capital Company Limited and Yardley Finance Limited's long and short positions in H shares - Controlling shareholder China Petroleum & Chemical Corporation holds **5,459,455,000 A shares**, representing **51.14%** of the total issued shares[13](index=13&type=chunk)[14](index=14&type=chunk) [Directors' and Supervisors' Interests and Short Positions](index=8&type=section&id=Directors%27%20and%20Supervisors%27%20Interests%20and%20Short%20Positions) This section discloses the company shares held by its directors and supervisors, with Executive Director Huang Xiangyu, Supervisor Zhang Feng, and Supervisor Chen Hongjun holding **140,000**, **10,000**, and **31,400 A shares** respectively as of June 30, 2024 Directors' and Supervisors' Shareholdings | Name | Position | Number of Shares Held | | :--- | :--- | :--- | | Huang Xiangyu | Executive Director and Deputy General Manager | 140,000 A Shares | | Zhang Feng | Supervisor | 10,000 A Shares | | Chen Hongjun | Supervisor | 31,400 A Shares | [Management Discussion and Analysis](index=9&type=section&id=Management%20Discussion%20and%20Analysis) This section provides management's review and outlook on the company's operating performance, key financial results, investment activities, and profit distribution plans [Operating Performance Review and Outlook](index=9&type=section&id=Operating%20Performance%20Review%20and%20Outlook) In the first half of 2024, the Group successfully turned losses into profits by focusing on safety production, profitability, and high-quality development, despite a **3.12%** decrease in revenue to **RMB 43.49 billion**, achieving a pre-tax profit of **RMB 12 million** compared to a **RMB 1.19 billion** loss in the prior year, with refined oil product output slightly increasing and jet fuel output significantly growing by **51%**, while the company anticipates continued challenges in the second half and will focus on five key areas - The company successfully turned losses into profits in the first half of 2024, achieving a post-tax profit of **RMB 3 million**, an increase of **RMB 970 million** compared to a **RMB 967 million** loss in the prior year[19](index=19&type=chunk) H1 2024 Key Product Output | Product | Output (Ten Thousand Tons) | YoY Change | | :--- | :--- | :--- | | Total Main Products | 583.07 | -7.70% | | Crude Oil Processed | 665.29 | -6.22% | | Refined Oil Products | 428.47 | +0.43% | | - Jet Fuel | 123.23 | +51.00% | | - Diesel | 138.67 | -24.86% | | Ethylene | 21.98 | -38.47% | Net Sales Composition (Six Months Ended June 30) | Product Category | 2024 Net Sales (RMB Million) | Share (%) | 2023 Net Sales (RMB Million) | Share (%) | | :--- | :--- | :--- | :--- | :--- | | Refining Products | 24,948.22 | 66.53 | 24,470.70 | 63.29 | | Chemical Products | 8,757.87 | 23.36 | 9,504.53 | 24.59 | | Petrochemical Product Trading | 3,144.79 | 8.39 | 4,257.24 | 11.01 | | Other | 645.65 | 1.72 | 430.06 | 1.11 | | **Total** | **37,496.53** | **100.00** | **38,662.53** | **100.00** | - Looking ahead to the second half, the company anticipates continued complex and severe production and operating conditions due to global economic growth pressure and the chemical market remaining at a low point in its cycle, with a focus on ensuring safety and stability, achieving profitability, promoting transformation and upgrading, deepening reforms, and talent development[32](index=32&type=chunk)[33](index=33&type=chunk) [Analysis of Key Operating Performance](index=18&type=section&id=Analysis%20of%20Key%20Operating%20Performance) This section provides an in-depth analysis of the reporting period's operating details, showing significant changes in financial statement items such as R&D expenses and other income due to increased R&D projects and government subsidies, a substantial year-on-year improvement in operating performance leading to a turnaround, an increase in refining product gross margin, a decrease in chemical product gross margin, with East China remaining the primary revenue source, and significant changes in assets and liabilities like cash, accounts receivable, and notes payable due to operating activities and funding arrangements - Several financial statement items changed by over **30%**, with net profit attributable to parent company shareholders turning profitable primarily due to increased gross profit from petrochemical products; net cash flow from investing activities turned negative due to reduced recovery of time deposits and increased investment in joint ventures[35](index=35&type=chunk) Main Business by Product Category | Product Category | Operating Revenue (RMB '000) | Gross Margin (%) | YoY Change in Operating Revenue (%) | Change in Gross Margin vs. Prior Year Period | | :--- | :--- | :--- | :--- | :--- | | Refining Products | 30,856,418 | 22.04 | 0.59% | Increased by 2.80 percentage points | | Chemical Products | 8,837,013 | 0.67 | -7.18% | Decreased by 2.89 percentage points | | Petrochemical Product Trading | 3,147,406 | 1.56 | -26.13% | Increased by 0.21 percentage points | - The company's core competitiveness lies in its integrated refining and chemical scale, product quality, advantageous geographical location in the Yangtze River Delta core area, and cost and efficiency advantages from vertically integrated production[42](index=42&type=chunk) [Investment Status Analysis](index=22&type=section&id=Investment%20Status%20Analysis) During the reporting period, the company had no new entrusted wealth management, entrusted loans, or use of raised funds, and analysis of major subsidiaries and associates shows diversified performance, with Shanghai Jinchang's losses decreasing due to cessation of operations, while Shanghai Jinfei's profit declined due to lower product gross margins, and the company is advancing several non-fundraising projects, such as the thermal power unit renovation and thermoplastic elastomer project - During the reporting period, the company had no entrusted wealth management, entrusted loans, or use of raised funds[43](index=43&type=chunk)[44](index=44&type=chunk) - The operating performance of major controlled and associated companies varied significantly compared to the prior year, for example, Shanghai Jinchang's net loss decreased by **60.77%** year-on-year, while Shanghai Jinfei's net profit decreased by **213.80%** year-on-year[48](index=48&type=chunk) Major Non-Fundraising Projects | Major Project | Total Project Investment (RMB '000) | Investment in Reporting Period (RMB '000) | Project Progress | | :--- | :--- | :--- | :--- | | Shanghai Petrochemical Thermal Power Unit Clean Efficiency Improvement Project | 3,287,711 | 62,790 | Basic Design Stage | | 250,000 Tons/Year Thermoplastic Elastomer Supporting Project | 211,326 | 43,850 | Under Construction | [Profit Distribution Plan](index=26&type=section&id=Profit%20Distribution%20Plan) The company's 2023 annual general meeting approved a proposal not to distribute dividends or convert capital reserves into share capital for 2023, and similarly, there is no profit distribution or capital reserve conversion plan for the current reporting period - The company's 2023 profit distribution plan was to not distribute dividends or convert capital reserves into share capital, and there is no profit distribution or conversion plan for the current reporting period[50](index=50&type=chunk)[51](index=51&type=chunk) [Other Matters](index=27&type=section&id=Other%20Matters) This section covers various other important matters, including changes in director and supervisor information, securities repurchase activities, and compliance with corporate governance codes [Changes in Directors' and Supervisors' Information](index=27&type=section&id=Changes%20in%20Directors%27%20and%20Supervisors%27%20Information) During the reporting period, significant personnel changes occurred in the company's board of directors, with Mr. Wan Tao resigning as chairman and Mr. Guo Xiaojun appointed as executive director, chairman, and chairman of relevant committees effective June 6, 2024 - Mr. Wan Tao resigned from his positions as executive director and chairman of the company effective April 12, 2024[52](index=52&type=chunk) - Mr. Guo Xiaojun was appointed as the new executive director and chairman of the company effective June 6, 2024[52](index=52&type=chunk) [Purchase, Sale, and Redemption of Company Securities](index=27&type=section&id=Purchase%2C%20Sale%2C%20and%20Redemption%20of%20Company%20Securities) During the reporting period, the company repurchased **53,866,000 H shares** on the Hong Kong Stock Exchange for approximately **RMB 53.425 million** under shareholder authorization, and together with shares repurchased in 2023, a total of **124,058,000 shares** were cancelled on June 17, 2024 H1 2024 H Share Repurchase Details | Repurchase Month | Number of Shares Repurchased | Total Price (HKD) | | :--- | :--- | :--- | | 2024 Jan | 23,840,000 | 26,224,743.4 | | 2024 Feb | 17,358,000 | 18,359,206.6 | | 2024 Apr | 4,646,000 | 5,005,173.6 | | 2024 May | 5,384,000 | 6,188,706.2 | | 2024 Jun | 2,638,000 | 3,023,224.0 | - The company cancelled a total of **124,058,000 H shares** on June 17, 2024, including those repurchased during the current period[55](index=55&type=chunk) [Compliance with Corporate Governance and Dealing Codes](index=28&type=section&id=Compliance%20with%20Corporate%20Governance%20and%20Dealing%20Codes) The company applied and complied with all code provisions of Appendix C1 of the Hong Kong Listing Rules' Corporate Governance Code during the reporting period and adopted the Model Code for Securities Transactions by Directors of Listed Issuers to regulate securities transactions by directors and supervisors, with all directors, supervisors, and senior management confirming compliance - The company complied with the provisions of the Corporate Governance Code and the Model Code for Securities Transactions during the reporting period[56](index=56&type=chunk) [Interim Financial Statements](index=29&type=section&id=Interim%20Financial%20Statements) This section presents the company's interim financial statements prepared under both China Enterprise Accounting Standards and International Financial Reporting Standards [Financial Statements Prepared Under China Enterprise Accounting Standards](index=29&type=section&id=Financial%20Statements%20Prepared%20Under%20China%20Enterprise%20Accounting%20Standards) This section provides the unaudited consolidated and parent company interim financial statements prepared in accordance with China Enterprise Accounting Standards, including the balance sheet, income statement, cash flow statement, and statement of changes in shareholders' equity Consolidated Financial Statement Summary (China Enterprise Accounting Standards) | Item | June 30, 2024 (RMB '000) | December 31, 2023 (RMB '000) | | :--- | :--- | :--- | | **Balance Sheet** | | | | Total Assets | 42,941,617 | 39,658,244 | | Total Liabilities | 18,057,451 | 14,715,337 | | Total Equity Attributable to Parent Company Shareholders | 24,782,456 | 24,824,929 | | **Income Statement (Jan-Jun)** | **2024** | **2023** | | Operating Revenue | 43,532,806 | 44,937,051 | | Total Profit | 37,495 | -1,211,974 | | Net Profit Attributable to Parent Company Shareholders | 27,912 | -988,277 | [Financial Statements Prepared Under International Financial Reporting Standards (Unaudited)](index=40&type=section&id=Financial%20Statements%20Prepared%20Under%20International%20Financial%20Reporting%20Standards%20%28Unaudited%29) This section provides the unaudited consolidated interim financial statements prepared in accordance with International Financial Reporting Standards (IFRS), showing the company achieved a profit of **RMB 2.845 million** during the reporting period compared to a loss of **RMB 967 million** in the prior year, and includes explanations of accounting policy changes and detailed revenue and operating profit information by business segment Consolidated Income Statement Summary (International Financial Reporting Standards) | Item (RMB '000) | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Revenue | 43,489,664 | 44,889,109 | | Profit/(Loss) for the Period | 6,331 | (964,097) | | Profit/(Loss) Attributable to Company Shareholders | 2,845 | (966,688) | Segment Operating Profit/(Loss) (International Financial Reporting Standards) | Segment (RMB '000) | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Refining Products | 752,152 | (475,365) | | Chemical Products | (1,040,475) | (685,398) | | Petrochemical Product Trading | 10,044 | 5,808 | | Other | 110,913 | (51,572) | | **Total Segment Operating Loss** | **(167,366)** | **(1,206,527)** |

中国石化上海石油化工股份有限公司 2024 年半年度报告 1 公司代码：600688 公司简称：上海石化 中国石化上海石油化工股份有限公司 2024 年半年度报告 重要提示 一、中国石化上海石油化工股份有限公司（"公司"或"本公司"）董事会、监事会及董事、监事、 高级管理人员保证 2024 年半年度报告内容的真实、准确、完整，不存在虚假记载、误导性陈述 或重大遗漏，并承担个别和连带的法律责任。 三、 公司截至 2024 年 6 月 30 日止 6 个月（"本报告期"、"报告期"）中期财务报告为未经审计。 | --- | --- | --- | --- | |----------|------------|------------------|--------------| | 董事姓名 | 董事职务 | 未亲身出席的原因 | 被委托人姓名 | | 解正林 | 非执行董事 | 因公外出 | 郭晓军 | 四、公司负责人董事长郭晓军先生、主管会计工作负责人董事、副总经理兼财务总监杜军先生及会 计部门负责人（会计主管人员）财务部总经理傅和娟女士声明：保证 2024 年半年度报告中财务 报告的真实、准确、完整。 五、本 ...