香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 Sinopec Shanghai Petrochemical Company Limited 中國石化上海石油化工股份有限公司 聯席公司秘書 劉剛 中國，上海，2023年8月10日 00338 董事會會議召開日期 本公告乃依據《香港聯合交易所有限公司證券上市規則》第13.43條而作出。 中國石化上海石油化工股份有限公司（「本公司」及其附屬公司「本集團」）董事會（「董事 會」）玆通告謹定於2023年8月23日（星期三）舉行董事會會議，以審議並批准本集團截至 2023年6月30日止之2023年半年度業績以作刊發之用及處理其他事項。 承董事會命 於本公告刊登日，本公司的執行董事為萬濤﹑管澤民﹑杜軍及黃翔宇；本公司的非執行 董事為解正林及秦朝暉；及本公司的獨立非執行董事為唐松、陳海峰、楊鈞、周穎及黃 江東。 ...

中国石化上海石油化工股份有限公司（以下简称"公司"或"本 公司"）2022 年年度报告已于 2023 年 3 月 23 日在上海证券交易所网 站（www.sse.com.cn）及指定信息披露媒体披露。为便于广大投资者 更全面深入地了解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 6 月 7 日上午 9:00-10:00 在上证路演中心平台举行 2022 年 度业绩说明会，就投资者关心的问题进行交流。 会议召开时间：2023 年 6 月 7 日(星期三) 上午 9:00-10:00 会议召开地点：上海证券交易所上证路演中心（"上证路演中心"） （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2022 年度 的经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在 信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 证券代码：600688 证券简称：上海石化 公告编号：临 2023-27 中国石化上海石油化工股份有限公司 关于召开 20 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 21,978,009, a decrease of 15.49% compared to CNY 26,006,070 in the same period last year[5]. - The net profit attributable to shareholders of the listed company was a loss of CNY 163,142, representing a decline of 176.27% from a profit of CNY 213,510 in the previous year[5]. - The basic and diluted earnings per share were both negative CNY 0.015, compared to positive CNY 0.020 in the previous year[5]. - Net profit for Q1 2023 was -162,346 thousand RMB, compared to a net profit of 215,222 thousand RMB in Q1 2022, indicating a significant decline[19]. - Operating profit for Q1 2023 was -161,125 thousand RMB, down from 311,893 thousand RMB in the same period last year[18]. - The company reported a total comprehensive income of -162,346 thousand RMB for Q1 2023, compared to 421,018 thousand RMB in Q1 2022[19]. - The basic earnings per share for Q1 2023 was -0.015 RMB, compared to 0.020 RMB in Q1 2022, reflecting the decline in profitability[19]. Cash Flow and Assets - The net cash flow from operating activities was a negative CNY 29,479, compared to a negative CNY 1,785,568 in the same period last year[5]. - Cash flow from operating activities showed a net outflow of -29,479 thousand RMB in Q1 2023, compared to -1,785,568 thousand RMB in Q1 2022, indicating improved cash management[20]. - The company's cash and cash equivalents increased to CNY 7,281,505 from CNY 3,998,332 year-over-year[15]. - Cash and cash equivalents at the end of Q1 2023 were 3,953,405 thousand RMB, down from 4,987,376 thousand RMB at the end of Q1 2022[21]. - As of March 31, 2023, the total current assets amounted to CNY 15,764,370, a slight decrease from CNY 15,765,882 as of December 31, 2022[15]. - The total assets at the end of the reporting period were CNY 40,637,918, reflecting a decrease of 1.47% from CNY 41,242,740 at the end of the previous year[6]. - The total assets as of March 31, 2023, were CNY 40,637,918, down from CNY 41,242,782 at the end of 2022[17]. Liabilities and Equity - The total liabilities decreased to CNY 14,411,891 from CNY 14,871,357 compared to the previous year[16]. - The total equity attributable to shareholders was CNY 26,097,552, down from CNY 26,243,746 compared to the previous year[17]. - Short-term borrowings increased significantly to CNY 5,048,000 from CNY 1,550,000 year-over-year[16]. - The total equity as of March 31, 2022, was RMB 26,371,386 thousand, with a minor adjustment of RMB 39 thousand[26]. Operational Insights - The company reported a decrease in sales volume and reduced investment income as key reasons for the decline in net profit attributable to shareholders[10]. - The company received government subsidies amounting to CNY 7,679, which are closely related to its normal business operations[8]. - The company is implementing adjustments in accordance with the new accounting standards effective from January 1, 2023, which may impact financial reporting[7]. - The company reported a direct economic loss of approximately CNY 9.71 million due to a production safety incident[14]. - Research and development expenses increased to 30,776 thousand RMB in Q1 2023, up from 11,867 thousand RMB in Q1 2022, reflecting a focus on innovation[18]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 95,286, with the largest shareholder being Sinopec Limited holding 50.55%[11]. - The company has no known related party relationships among its major shareholders[13].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 21,978,009 thousand, a decrease of 15.49% compared to CNY 26,006,070 thousand in the same period last year[4] - The net profit attributable to shareholders of the listed company was a loss of CNY 163,142 thousand, representing a decline of 176.27% from a profit of CNY 213,510 thousand in the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 159,041 thousand, down 165.70% from CNY 241,668 thousand in the same period last year[4] - The decline in net profit was attributed to a decrease in product sales and reduced investment income during the reporting period[7] - Net profit for Q1 2023 was a loss of RMB 162,346 thousand, compared to a profit of RMB 215,222 thousand in Q1 2022, indicating a significant decline[15] Cash Flow and Liquidity - The net cash flow from operating activities was a negative CNY 29,479 thousand, compared to a negative CNY 1,785,568 thousand in the previous year, indicating a significant improvement[4] - Cash flow from operating activities in Q1 2023 was a net outflow of RMB 29,479 thousand, an improvement from a net outflow of RMB 1,785,568 thousand in Q1 2022[16] - Cash flow from investing activities in Q1 2023 was a net outflow of RMB 386,507 thousand, compared to a net outflow of RMB 2,824,403 thousand in Q1 2022, showing a reduction in cash outflow[16] - Cash flow from financing activities in Q1 2023 was a net inflow of RMB 3,464,658 thousand, compared to RMB 4,485,169 thousand in Q1 2022, indicating a decrease in financing activities[17] - The company's cash and cash equivalents increased to RMB 7,281,505,000 from RMB 3,998,332,000 as of December 31, 2022, reflecting a significant increase of approximately 82.5%[12] Assets and Liabilities - The total assets at the end of the reporting period were CNY 40,637,918 thousand, a decrease of 1.47% from CNY 41,242,740 thousand at the end of the previous year[4] - The total assets decreased slightly to RMB 40,637,918,000 from RMB 41,242,782,000, indicating a reduction of about 1.5%[13] - The total liabilities decreased to RMB 14,411,891,000 from RMB 14,871,357,000, a reduction of approximately 3.1%[13] - Short-term borrowings rose sharply to RMB 5,048,000,000 from RMB 1,550,000,000, marking an increase of approximately 225.4%[13] - The total non-current assets decreased to RMB 24,873,548,000 from RMB 25,476,900,000, reflecting a decline of about 2.4%[12] Shareholder Information - As of March 31, 2023, the total number of ordinary shareholders is 95,286, with the top 10 shareholders holding a total of 5,459,455,000 shares, representing 50.55% of the total shares[8] - The equity attributable to shareholders of the listed company was CNY 26,097,552 thousand, down 0.56% from CNY 26,243,705 thousand at the end of the previous year[4] - The total equity attributable to shareholders decreased to RMB 26,097,552,000 from RMB 26,243,746,000, a decrease of approximately 0.6%[13] Accounting Changes - The company has implemented adjustments in financial reporting due to the new accounting standards effective from January 1, 2023, impacting the recognition of deferred tax assets and liabilities[5] - The company executed new accounting standards in 2023, impacting the financial statements[18] - The accounting policy change resulted in a net profit adjustment of CNY 372,000 for the three months ended March 31, 2022[20] - The cumulative impact of the policy change was reflected in the retained earnings and other relevant financial statement items[20] - Deferred tax assets increased by CNY 42,000, while deferred tax liabilities rose by CNY 3,000 as a result of the policy change[21] Research and Development - Research and development expenses increased to RMB 30,776 thousand in Q1 2023, compared to RMB 11,867 thousand in Q1 2022, reflecting a focus on innovation[14] Other Financial Metrics - The weighted average return on net assets was -0.623%, a decrease of 1.33 percentage points from 0.700% in the previous year[4] - The company reported non-recurring gains and losses totaling CNY -4,101 thousand for the period, primarily due to employee termination benefits and accounts receivable discount losses[6] - The company's retained earnings as of March 31, 2023, stand at RMB 7,759,906,000, down from RMB 7,923,048,000 as of December 31, 2022[13] - The company reported a direct economic loss of approximately RMB 9,714,800 due to a production safety incident on March 25, 2023[10]

Financial Performance - The net loss attributable to shareholders for 2022 was RMB 2,872,072 thousand according to Chinese accounting standards, and RMB 2,846,156 thousand according to International Financial Reporting Standards, with no dividends proposed for the year[5]. - The company's net sales for 2022 were RMB 72,654.6 million, a decrease of 4.3% from RMB 75,888.8 million in 2021[10]. - The company reported a pre-tax loss of RMB 3,573.7 million for 2022, compared to a profit of RMB 2,721.1 million in 2021, marking a significant decline[10]. - The net loss attributable to shareholders for 2022 was RMB 2,846.2 million, a sharp decrease from a profit of RMB 2,073.4 million in 2021, representing a 237.5% decline[10]. - The company's total assets decreased to RMB 41,136.7 million in 2022 from RMB 46,920.6 million in 2021, reflecting a decline of 12.0%[10]. - The net asset attributable to shareholders at the end of 2022 was RMB 26,227.7 million, down 13.3% from RMB 30,242.1 million in 2021[10]. - The operating income for 2022 was RMB 82,518.3 million, a decrease of 7.7% compared to RMB 89,280.4 million in 2021[13]. - The net cash flow from operating activities for 2022 was a negative RMB 7,337.5 million, compared to a positive RMB 4,060.0 million in 2021[13]. - The company reported a diluted loss per share of RMB (0.265) for 2022, compared to earnings of RMB 0.185 per share in 2021[14]. - The company experienced a significant increase in the asset-liability ratio to 36.06% in 2022 from 35.38% in 2021, indicating a slight increase in financial leverage[14]. Market Position and Operations - The company is a major integrated petrochemical enterprise in China, focusing on refining and producing various petroleum products, with a significant portion of sales coming from the East China region[9]. - The company has a strong market position in the production of refined oil, intermediate petrochemical products, synthetic resins, and synthetic fibers, benefiting from the growing demand for petrochemical products in China[9]. - The company has independent public utilities and environmental protection systems, along with comprehensive transportation facilities including maritime, inland river, railway, and road transport[9]. - The company produced over 60 different products, including various specifications of synthetic fibers, resins, plastics, and petrochemical products[19]. - The company's main products accounted for a total of 100% of the net sales in 2022, with petroleum products making up 57.04%[23]. - Gasoline sales contributed 23.50% and diesel sales contributed 20.05% to the total revenue, highlighting the significance of transportation fuels[23]. - The company is involved in various businesses including oil and gas exploration, refining, and petrochemical production[31]. - The company is located in the economically active Yangtze River Delta region, which enhances its competitive advantage in logistics and transportation[46]. Challenges and Risks - The company faced unprecedented challenges in 2022 due to global economic downturns and geopolitical tensions affecting oil and gas prices[48]. - The company anticipates that international oil and gas prices will remain at a medium to high level throughout the year due to geopolitical risks and OPEC production controls[130]. - The company faces four major challenges in 2023: oil price volatility, market uncertainty, rising investment costs, and external risk accumulation[131]. - The company faces risks related to the cyclical nature of the oil and petrochemical markets, with significant sensitivity to macroeconomic conditions and fluctuations in crude oil and petrochemical product prices[139]. - Over 95% of the crude oil required for production is imported, exposing the company to procurement risks and the inability to fully pass on increased costs due to rising oil prices[140]. - The company is subject to numerous environmental regulations, and potential future stricter standards could lead to additional costs[142]. - The company’s operations may be adversely affected by fluctuations in the RMB exchange rate against foreign currencies, impacting costs and profitability[143]. Research and Development - The company is engaged in research and development of alternative energy products and technology services[32]. - The company applied for 120 patents and was granted 59, achieving significant breakthroughs in technology innovation, including the development of carbon fiber and composite materials for various applications[52]. - Research and development expenses for 2022 amounted to RMB 130.5 million, an increase from RMB 94.3 million in 2021, primarily due to higher material costs for equipment and product technology development[92]. - The company focuses on R&D innovation, particularly in the production processes of ethylene and propylene, which are key raw materials for various products[155]. Environmental and Safety Initiatives - The company achieved a 57.64% year-on-year reduction in ammonia nitrogen emissions, a 23.90% reduction in sulfur dioxide emissions, and a 10.56% reduction in nitrogen oxides emissions[195]. - The company maintained a 100% compliance rate for wastewater discharge and a 99.99% compliance rate for controlled waste gas emissions in 2022[195]. - The company conducted 2,902,476 leak detection tests on production equipment, identifying 8,374 leaks and successfully repairing 8,245 of them, resulting in a repair rate of 98.50%[195]. - The company received the "2022 Green Enterprise" award and continued to hold the title of "Chinese Environmentally Friendly Enterprise" after passing the review[195]. - The company has implemented a dual prevention mechanism to mitigate major safety and environmental risks, enhancing its HSE performance[195]. - The company has obtained environmental impact assessments for seven projects, including the thermoplastic elastomer project in 2022[198]. Shareholder and Corporate Governance - The controlling shareholder of the company is China Petroleum & Chemical Corporation, holding 67.20% of the shares[33]. - The company has no non-operational fund occupation by controlling shareholders and their related parties[6]. - The company has not violated regulatory decision-making procedures in providing guarantees[6]. - The board of directors has detailed the potential risks that may affect the company's future development in the management discussion and analysis section of the report[6]. - The company has appointed KPMG Huazhen LLP as the domestic auditor and KPMG as the overseas auditor for the fiscal year 2022, with a total remuneration of RMB 6,837,000[178]. - The company has not issued any stock options under the equity incentive plan during the reporting period, and no options were exercised or canceled[182]. Future Plans and Goals - The company aims to continuously improve operational efficiency and strives to become a "domestically leading, world-class" energy, chemical, and new materials company[9]. - The company aims to enhance its competitiveness by focusing on low-cost upstream operations and high-value downstream products, while promoting technological upgrades and ecological transformation[132]. - The company plans to process a total of 13.6 million tons of crude oil in 2023, with expected production of 8.001 million tons of refined oil, 756,000 tons of ethylene, and 680,000 tons of paraxylene[133]. - The company plans to achieve commercial operation of the 48K large bundle project in the current year and initiate the construction of the second phase, along with establishing a 100-ton high-performance carbon fiber testing facility[137]. - The company anticipates capital expenditures of approximately RMB 3.7 billion for 2023, which will be financed through a combination of financing activities and internal funds[141].

Financial Performance - The net loss attributable to shareholders for 2022 was RMB 2,872,072 thousand under Chinese accounting standards, and RMB 2,846,156 thousand under IFRS[5]. - The company reported a net loss attributable to shareholders of RMB 2,872.1 million in 2022, a decline of 243.57% from a profit of RMB 2,000.5 million in 2021[25]. - Basic and diluted earnings per share for 2022 were both RMB (0.263), compared to RMB 0.192 in 2021, indicating a significant loss[25]. - The weighted average return on equity decreased to (10.163%) in 2022, down 16.89 percentage points from 6.727% in 2021[24]. - The company's total assets at the end of 2022 were RMB 41,242.7 million, a decrease of 12.32% from RMB 47,038.6 million at the end of 2021[25]. - The company's net profit attributable to shareholders was a loss of RMB 2.8462 billion, compared to a profit of RMB 2.0734 billion in 2021[54]. - The gross loss for the company was RMB 3.8434 billion, compared to a profit of RMB 1.4322 billion in 2021[54]. - The net loss after tax for 2022 was RMB 2.8423 billion, a decrease of RMB 4.9189 billion compared to a net profit of RMB 2.0766 billion in the previous year[76]. - The company's cash flow from operating activities showed a net outflow of RMB 7,337.5 million in 2022, compared to a net inflow of RMB 4,060.0 million in 2021[25]. - The company's cash flow from operating activities showed a net outflow of RMB 7.337 billion, an increase in outflow of 280.73% compared to a net inflow of RMB 4.060 billion in 2021[93]. Revenue and Sales - The company's net sales for 2022 were RMB 72,654.6 million, a decrease of 4.3% compared to RMB 75,888.8 million in 2021[25]. - The company's revenue for the year was RMB 82.443 billion, representing a decline of 7.57% compared to the previous year[38]. - The company's total revenue for 2022 was RMB 72.6546 billion, a decrease of 4.26% from RMB 75.8888 billion in 2021[54]. - Synthetic fiber revenue dropped to RMB 412.5 million, a significant decline of 70.00% compared to RMB 1,374.8 million in the previous year, with sales volume decreasing by 78.02%[54]. - Revenue from resins and plastics fell to RMB 7.3212 billion, down 26.51% from RMB 9.9627 billion in 2021, with sales volume decreasing by 29.13%[55]. - Intermediate petrochemical products generated RMB 10.5377 billion in revenue, a slight decrease of 2.25% from RMB 10.7805 billion, with sales volume down by 11.43%[56]. - Oil products revenue was RMB 41.4447 billion, a decrease of 1.05% from RMB 41.8844 billion, with sales volume declining by 30.06%[57]. - Revenue from petrochemical product trading increased to RMB 12.0076 billion, an increase of 8.65% from RMB 11.0514 billion, driven by higher sales from a subsidiary[58]. - Other revenue rose to RMB 930.9 million, an increase of 11.48% from RMB 835.0 million in the previous year[59]. Costs and Expenses - The group's total sales costs and expenses for 2022 amounted to RMB 76.498 billion, an increase of 2.74% compared to RMB 74.457 billion in 2021[61]. - The sales cost for 2022 was RMB 76.266 billion, up 2.65% from RMB 74.298 billion in the previous year, with sales costs accounting for 104.97% of the net sales for the year[62]. - The total operating cost for 2022 was RMB 73,518 million, an increase of 2.57% from RMB 71,676 million in 2021, primarily due to rising international crude oil prices[98]. - The total cost of crude oil processing increased by RMB 3.956 billion, up 9.16% year-on-year, accounting for 61.81% of total sales costs[40]. Assets and Liabilities - The company's net asset attributable to shareholders decreased by 13.27% to RMB 26,243.7 million at the end of 2022 from RMB 30,260.2 million at the end of 2021[25]. - The company experienced a significant increase in total liabilities, which amounted to RMB 14,781.4 million at the end of 2022, compared to RMB 16,543.2 million at the end of 2021[26]. - The asset-liability ratio as of December 31, 2022, was 35.93%, up from 35.26% in 2021[80]. - As of December 31, 2022, cash and cash equivalents amounted to RMB 3,998,332 thousand, a decrease of 68.01% from RMB 12,498,617 thousand in the previous year[113]. - Accounts receivable increased by 114.84% to RMB 2,512,362 thousand, indicating a rise in outstanding payments[113]. - The total liabilities included accounts payable of RMB 9,144,554 thousand, which increased by 55.29% due to rising crude oil procurement prices[113]. Research and Development - The company applied for 120 patents and was granted 59, highlighting its commitment to technological innovation[42]. - The research and development expenses for 2022 were RMB 130.5 million, an increase from RMB 94.3 million in 2021, primarily due to higher material costs for equipment and product technology development[81]. - The company's research and development (R&D) expenses totaled RMB 130,516 thousand, accounting for 0.16% of total revenue[102]. - The company’s R&D efforts are detailed in the management discussion and analysis section, focusing on innovation and product development[155]. Management and Governance - The board of directors proposed not to distribute dividends for the year and not to increase capital from reserves[5]. - The financial statements were audited by KPMG Huazhen and KPMG, both issuing standard unqualified audit opinions[9]. - The company has not experienced any non-operational fund occupation by controlling shareholders or related parties[6]. - There were no violations of decision-making procedures regarding external guarantees[7]. - The company has maintained stable production operations following an explosion incident, with all production lines returning to normal by the end of September[41]. - The company has maintained a good integrity status, with no significant debts or obligations unmet during the reporting period[183]. - The company confirmed that all related party transactions were conducted at market prices and did not significantly affect its independence[188]. Future Outlook and Strategy - The company plans to continue optimizing its product structure and improving product quality to meet the growing demand for petrochemical products in China[34]. - The company plans to process 13.6 million tons of crude oil in 2023, with production targets of 8.001 million tons of refined oil, 756,000 tons of ethylene, and 680,000 tons of paraxylene[128]. - The company aims to achieve commercial operation of the first phase of the 48K tow project and start construction of the second phase within the year[132]. - The company anticipates capital expenditure of approximately RMB 3.7 billion for 2023[123]. - The company is committed to enhancing safety and environmental standards, focusing on risk management and compliance with environmental regulations[128]. - The company plans to strengthen its core industries, particularly in high-end new materials like carbon fiber, and aims to transition towards renewable energy sources[127]. - The company will optimize its management structure to improve efficiency and enhance internal capabilities[130]. - The company emphasizes talent development and employee satisfaction to support its long-term growth strategy[133]. Market and Industry Conditions - The company faces challenges including fluctuating oil prices, market uncertainties, and rising investment costs, which may impact financial stability and operational efficiency[126]. - The company’s revenue is significantly affected by the cyclical nature of the oil and petrochemical markets, with potential adverse impacts from rising crude oil prices and falling petrochemical product prices[134]. - The company’s ability to pass on increased costs due to rising crude oil prices to customers is dependent on market conditions and government regulations, which may lead to delays[135]. - The company is subject to strict environmental regulations in China, and future regulatory changes could result in additional costs[137]. - The company’s operations and financial results may be adversely affected by fluctuations in the exchange rate of the Renminbi against other currencies, particularly the US dollar[138]. - Recent government policies have provided opportunities for high-quality development in the petrochemical industry, particularly in new materials and high-end chemicals[144]. Related Party Transactions - The company is involved in significant related party transactions with its controlling shareholder, Sinopec Corp, which could impact its business and economic benefits[140]. - Sinopec Corp holds approximately 50.44% of the company's shares, giving it absolute control and the potential to influence the company's operations and financial decisions[141]. - The company engaged in a technology development contract with Sinopec Corp for the research and development of high-performance carbon fiber equipment, with a total cost of RMB 44,400,000, to be paid in two installments[190]. - The company signed a new product supply and sales service framework agreement with Sinopec Group, effective for three years until December 31, 2025[184]. Compliance and Legal Matters - The company has no significant litigation or arbitration matters during the reporting period[181]. - The company has not faced any administrative penalties or investigations by the China Securities Regulatory Commission during the reporting period[182].

Financial Performance - The net loss attributable to shareholders for 2022 was RMB 2,872,072 thousand, a decrease of 243.57% compared to a profit of RMB 2,000,506 thousand in 2021[3]. - Total revenue for 2022 was RMB 82,518,315 thousand, representing a decline of 7.57% from RMB 89,280,415 thousand in 2021[9]. - The net cash flow from operating activities was a loss of RMB 7,337,499 thousand, compared to a positive cash flow of RMB 4,060,026 thousand in 2021[9]. - The basic loss per share for 2022 was RMB (0.265), compared to earnings of RMB 0.185 per share in 2021[10]. - The weighted average return on net assets decreased to (10.163)% in 2022 from 6.727% in 2021, a reduction of 16.89 percentage points[10]. - The company reported a pre-tax loss of RMB 3,573.7 million in 2022, compared to a profit of RMB 2,721.1 million in 2021[12]. - The net loss attributable to shareholders for 2022 was RMB 2,846.2 million, a significant decline from a profit of RMB 2,073.4 million in 2021[12]. - The company's operating loss for 2022 was RMB 38,434 million, a significant decrease from the operating profit of RMB 14,322 million in 2021[46]. - The after-tax loss for the group was RMB 2.8423 billion, a decrease of RMB 4.9189 billion from last year's after-tax profit of RMB 2.0766 billion[54]. Assets and Liabilities - The total assets decreased by 12.32% to RMB 41,242,740 thousand at the end of 2022 from RMB 47,038,622 thousand at the end of 2021[9]. - The total liabilities of the company as of December 31, 2022, were RMB 14,781.4 million, a decrease from RMB 16,543.2 million in 2021[12]. - The company's total liabilities decreased to RMB 14,871,354,000 in 2022 from RMB 16,643,191,000 in 2021, a reduction of about 10.5%[130]. - The company's total current assets decreased to RMB 15,765,882,000 from RMB 20,932,276,000 in 2021, representing a decline of approximately 24.3%[129]. - The company's total non-current assets decreased to RMB 25,476,858,000 in 2022 from RMB 26,106,346,000 in 2021, a decline of approximately 2.4%[129]. Sales and Revenue Breakdown - The company's net sales for 2022 were RMB 72,654.6 million, a decrease of 4.9% compared to RMB 75,888.8 million in 2021[12]. - The total sales volume for 2022 was 9,667.3 thousand tons, with a net sales amount of RMB 72,654.6 million, representing a decrease of 4.4% compared to RMB 75,888.8 million in 2021[33]. - The sales of petrochemical products accounted for 57.0% of total net sales in 2022, with a net sales amount of RMB 41,444.7 million, slightly down from RMB 41,884.4 million in 2021[34]. - The net sales of intermediate petrochemical products were RMB 10,537.7 million, accounting for 14.5% of total net sales, a slight decrease from RMB 10,780.5 million in 2021[34]. - The sales volume of resin and plastics increased by 10.1% to 889.3 thousand tons, with net sales of RMB 7,321.2 million, compared to RMB 9,962.7 million in 2021[33]. Operational Efficiency and Costs - The total sales costs and expenses for 2022 were RMB 76,498 million, an increase of 2.74% from RMB 74,456.6 million in 2021[42]. - The company's total sales cost represented 104.97% of net sales for the year[43]. - The total cost of crude oil processing increased by RMB 3.956 billion, up 9.16%, accounting for 61.81% of total sales costs[23]. - The company's operating costs rose by 2.57% to RMB 73.518 billion from RMB 71.675 billion in the previous year, primarily due to rising international oil prices[72]. - The cost of raw materials, particularly crude oil, was RMB 47,139 million, accounting for 64.12% of total operating costs, up from 60.25% in 2021[73]. Research and Development - The company's research and development expenses for 2022 were RMB 130.5 million, an increase from RMB 94.3 million in 2021, primarily due to increased material costs for equipment and product technology development[58]. - The company applied for 120 patents and was granted 59, achieving significant breakthroughs in technological innovation[25]. - The company employed 179 R&D personnel, making up 2.24% of the total workforce[76]. Environmental and Safety Initiatives - The company achieved a 100% compliance rate for wastewater discharge and a 99.99% compliance rate for controlled waste gas emissions in 2022[110]. - Emissions of ammonia nitrogen, sulfur dioxide, and nitrogen oxides decreased by 57.64%, 23.90%, and 10.56% respectively in 2022 compared to the previous year[109]. - The company implemented carbon reduction measures that resulted in a reduction of approximately 9.5 million tons of CO2 equivalent emissions through 57 completed energy-saving actions in 2022[117]. - The company has been recognized as a "Green Enterprise" in 2022 and continues to hold the title of "Chinese Environmentally Friendly Enterprise" after re-evaluation[109]. Future Plans and Strategic Focus - The company plans to process a total of 13.6 million tons of crude oil in 2023, with production targets of 8.001 million tons of refined oil, 756,000 tons of ethylene, 680,000 tons of paraxylene, and 698,700 tons of new synthetic resin products[88]. - The company aims to enhance its core industries in high-end new materials, focusing on carbon fiber and downstream fine chemical materials, to support local industrial development[87]. - The company is committed to achieving a transformation from fossil energy to a mix of fossil and renewable energy, promoting green and low-carbon development[87]. - The company will focus on cost reduction and efficiency improvement across all production processes to maximize overall profitability[90].

Financial Performance - The company's operating revenue for Q3 2022 was CNY 11,878,206, a decrease of 51.96% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2022 was a loss of CNY 1,566,776, representing a decline of 317.35% year-over-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 1,529,123, down 313.63% from the previous year[5] - Total operating revenue for the first three quarters of 2022 was CNY 57,778,561, a decrease of 6.7% compared to CNY 61,863,093 in the same period of 2021[18] - Net profit for the first three quarters of 2022 was a loss of CNY 1,998,274, compared to a profit of CNY 1,971,400 in the same period of 2021[18] - The company recorded a total comprehensive loss of CNY 1,777,831 for the first three quarters of 2022, compared to a total comprehensive income of CNY 2,048,850 in the same period of 2021[19] - The company's investment income for the first three quarters of 2022 was a loss of CNY 185,032, a decline from a profit of CNY 777,741 in the same period of 2021[18] Cash Flow and Assets - The net cash flow from operating activities for Q3 2022 was CNY 1,670,792, a decrease of 18.34% compared to the same period last year[5] - The company reported a net cash outflow from operating activities of CNY 4,734,330 for the first three quarters of 2022, compared to an outflow of CNY 343,611 in the previous year[21] - Cash and cash equivalents at the end of the third quarter of 2022 amounted to CNY 5,494,687, an increase from CNY 3,227,641 at the end of the same period in 2021[22] - The company achieved a net cash inflow from investing activities of CNY 3,790,376 in the first three quarters of 2022, a significant improvement from a net outflow of CNY 3,877,409 in the previous year[21] - The company's cash and cash equivalents decreased to ¥9,087,458,000 from ¥12,498,617,000 year-over-year, reflecting a decline of approximately 27.4%[15] - Total assets at the end of Q3 2022 were CNY 44,689,289, a decrease of 4.99% from the end of the previous year[7] - Total assets as of September 30, 2022, amounted to ¥44,689,289,000, down from ¥47,038,622,000 at the end of 2021, indicating a decrease of about 5.7%[17] Shareholder Information - As of September 30, 2022, the total number of ordinary shareholders was 102,846, with the largest shareholder, Sinopec Limited, holding 5,459,455,000 shares, representing 50.44% of the total[11] - The equity attributable to shareholders at the end of Q3 2022 was CNY 27,259,789, down 9.92% from the previous year-end[7] - Sinopec Limited's equity attributable to shareholders decreased to ¥27,259,789,000 from ¥30,260,172,000, a decline of approximately 10.0%[17] Operational Challenges - The company reported a significant decline in performance due to an explosion incident at its 1 ethylene glycol unit on June 18, 2022, leading to a halt in major production facilities[10] - The average price increase of petrochemical products was lower than the average increase in crude oil prices, contributing to the decline in net profit for the year-to-date period[10] - The company has resumed operations at its major facilities following the incident, indicating a potential recovery in production capacity[10] - The company successfully completed the restoration of production capabilities after an explosion incident on June 18, 2022, with the second ethylene glycol unit resuming operations by September 30, 2022[13] Other Information - The company has not reported any new product launches or technological advancements in the current quarter[12] - The company has not disclosed any significant mergers or acquisitions during the reporting period[12] - Total operating costs for the first three quarters of 2022 were CNY 59,745,874, slightly down from CNY 60,150,245 in the previous year[18] - Basic and diluted earnings per share for the third quarter of 2022 were both CNY -0.185, compared to CNY 0.182 in the same quarter of 2021[19] - The company's total liabilities increased to ¥17,301,164,000 from ¥16,643,191,000, representing an increase of approximately 3.9%[17] - The inventory level rose to ¥7,466,394,000, compared to ¥5,923,525,000 in the previous year, marking an increase of about 26.1%[15] - The weighted average return on equity for Q3 2022 was -5.472%, a decrease of 7.88 percentage points year-over-year[5]

Financial Performance - The company's operating revenue for the third quarter of 2022 was CNY 11,878,206, a decrease of 51.96% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was a loss of CNY 1,566,776, representing a decline of 317.35% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 1,529,123, down 313.63% from the previous year[4]. - The total comprehensive income for the first three quarters of 2022 was a loss of RMB 1,777,831, compared to a gain of RMB 2,048,850 in the same period of 2021[13]. - Net profit attributable to shareholders of the parent company for the first three quarters of 2022 was a loss of RMB 2,002,785, compared to a profit of RMB 1,965,050 in the same period of 2021[13]. - The company reported a basic earnings per share of -0.185 for the first three quarters of 2022, compared to 0.182 in the same period of 2021[13]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 1,670,792, a decrease of 18.34% compared to the same period last year[4]. - Cash flow from operating activities for the first three quarters of 2022 showed a net outflow of RMB 4,734,330, compared to a smaller outflow of RMB 343,611 in the same period of 2021[14]. - The cash inflow from investment activities for the first three quarters of 2022 was RMB 3,790,376, a significant improvement compared to an outflow of RMB 3,877,409 in the same period of 2021[14]. - The net cash flow from financing activities for the first three quarters of 2022 was RMB 1,309 million, significantly up from RMB 534 million in the same period of 2021, indicating improved cash management[15]. - The company reported a cash and cash equivalents balance of RMB 5,495 million at the end of Q3 2022, an increase from RMB 3,228 million at the end of Q3 2021, reflecting a positive liquidity position[15]. - Cash inflows from financing activities totaled RMB 21,485 million in the first three quarters of 2022, compared to RMB 18,663 million in the same period of 2021, showing a growth of 15.5%[15]. - Cash outflows from financing activities increased to RMB 20,176 million in the first three quarters of 2022, up from RMB 18,129 million in the same period of 2021, representing an increase of 11.3%[15]. - The impact of exchange rate changes on cash and cash equivalents was RMB 18 million in Q3 2022, a positive shift from a negative impact of RMB 2 million in Q3 2021[15]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 44,689,289, a decrease of 4.99% compared to the end of the previous year[4]. - The total liabilities as of September 30, 2022, amounted to RMB 17,301,164, an increase of 3.9% from RMB 16,643,191 as of December 31, 2021[11]. - The company's total equity attributable to shareholders decreased to RMB 27,259,789 as of September 30, 2022, from RMB 30,260,172 as of December 31, 2021[11]. - The company's current assets as of September 30, 2022, totaled 20,384,304,000 RMB, a decrease from 20,932,276,000 RMB at the end of 2021[10]. - Non-current assets totaled 24,304,985,000 RMB as of September 30, 2022, down from 26,106,346,000 RMB at the end of 2021[10]. - Cash and cash equivalents decreased to 9,087,458,000 RMB from 12,498,617,000 RMB year-over-year[10]. - Inventory increased significantly to 7,466,394,000 RMB from 5,923,525,000 RMB year-over-year[10]. - The company's short-term borrowings increased to RMB 2,060,000 as of September 30, 2022, from RMB 1,540,000 as of December 31, 2021[11]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 102,846[7]. - The largest shareholder, China Petroleum & Chemical Corporation, holds 5,459,455,000 shares, representing 50.44% of total shares[7]. - The second largest shareholder, Hong Kong Central Clearing Limited, holds 3,452,738,030 shares, accounting for 31.90%[7]. - The company has no pledged, marked, or frozen shares among its top shareholders[8]. Operational Challenges and Recovery - The company experienced a significant decline in sales revenue due to an explosion at its 1 ethylene glycol unit on June 18, 2022[6]. - The average price increase of petrochemical products and crude oil was not sufficient to offset the operational losses caused by the incident[6]. - The company reported a total of CNY 37,653 in non-recurring losses for the quarter, with significant impacts from various operational disruptions[5]. - The company successfully resumed production after a major incident on June 18, 2022, completing recovery work by September 30, 2022[9]. - The company has initiated a phased recovery plan for production following the incident, successfully restoring operations across multiple stages[9]. Research and Development - Research and development expenses for the first three quarters of 2022 were RMB 82,916, up from RMB 75,153 in the same period of 2021, indicating a focus on innovation[12].

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 45,900,355, an increase of 23.60% compared to RMB 37,136,606 in the same period last year[9]. - The total profit (loss) for the period was a loss of RMB 442,601, a decrease of 129.30% compared to a profit of RMB 1,510,713 in the previous year[9]. - The net loss attributable to shareholders of the parent company was RMB 436,009, a decline of 135.04% from RMB 1,244,189 in the same period last year[9]. - The basic loss per share for the reporting period was RMB -0.040, compared to earnings of RMB 0.115 in the same period last year[10]. - The diluted loss per share for the reporting period was also RMB -0.040, compared to earnings of RMB 0.115 in the previous year[10]. - The weighted average return on net assets decreased by 5.61 percentage points to -1.448% from 4.164% in the previous year[10]. - The net profit (loss) after deducting non-recurring gains and losses for the current reporting period (January to June) was -402,544,000, a decrease of 134.42% compared to the same period last year[87]. - The EBITDA to total debt ratio decreased to 0.11, down 80.00% from 0.55 in the previous year[87]. - The interest coverage ratio fell to -7.84, a decline of 119.38% from 40.45 in the previous year[87]. - The cash interest coverage ratio was -127.87, down 104.95% from -62.39 in the previous year[87]. Cash Flow and Investments - The net cash flow used in operating activities was RMB -6,405,122, an increase of 168.05% compared to RMB -2,389,552 in the previous year[9]. - The company generated a net cash inflow of RMB 1,776,708 thousand from investing activities in the first half of 2022, a significant improvement from a net cash outflow of RMB 3,106,358 thousand in the previous year[33]. - The company's net cash inflow from financing activities was RMB 1,996,321 thousand in the first half of 2022, recovering from a loss of RMB (51,020) thousand in the first half of 2021[198]. - The total cash inflow from operating activities for the first half of 2022 reached RMB 50,632,846 thousand, a 31.1% increase from RMB 38,606,063 thousand in the same period of 2021[197]. - Cash outflow from operating activities totaled RMB 57,037,968 thousand, compared to RMB 40,995,615 thousand in the first half of 2021, resulting in a net cash flow from operating activities of RMB (6,405,122) thousand[197]. Production and Sales - The total production of main products was 5.4317 million tons, a decrease of 8.07% year-on-year[18]. - The company processed 5.7951 million tons of crude oil, a decrease of 6.68% year-on-year[18]. - The production of finished oil was 3.1534 million tons, a year-on-year decrease of 12.85%[18]. - The production of liquefied gas increased by 23.41% year-on-year to 326,300 tons[18]. - The production of ethylene increased by 16.67% year-on-year to 353,500 tons[18]. - The production of paraxylene increased significantly by 116.01% year-on-year to 318,400 tons[18]. - The company's product sales rate was 98.74%, with a collection rate of 100% for accounts receivable excluding related parties[18]. - In the first half of 2022, the company achieved a net sales amount of RMB 40.142 billion, an increase of 26.89% compared to the same period last year[21]. - The sales volume of synthetic fibers decreased by 79.89%, while the sales volume of resins and plastics and petroleum products decreased by 15.07% and 12.89%, respectively[21]. Costs and Expenses - The company's sales cost for the first half of 2022 was RMB 40.681 billion, an increase of 31.95% year-on-year, accounting for 101.34% of net sales[21]. - Operating costs for the first half of 2022 reached RMB 39,118,453 thousand, a 35.59% increase compared to RMB 28,849,768 thousand in the same period of 2021, primarily due to rising raw material and energy costs[33]. - The unit processing cost of crude oil was RMB 4,540.43 per ton, an increase of 59.36% compared to the same period last year[22]. - The company recorded an investment loss of RMB (50,675) thousand in the first half of 2022, compared to a gain of RMB 602,510 thousand in the same period of 2021[194]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 42,481,112, a decrease of 9.69% from RMB 47,038,622 at the end of the previous year[9]. - The total liabilities decreased from RMB 9,400,510,000 as of December 31, 2021, to RMB 7,987,334,000 as of June 30, 2022, a reduction of approximately 15.1%[149]. - The company's total current liabilities amounted to RMB 12,614,058 thousand, a decrease of 20.5% from RMB 15,795,743 thousand at the end of 2021[192]. - The company's total equity attributable to shareholders decreased to RMB 28,858,796 thousand, down 4.3% from RMB 30,242,139 thousand[113]. Environmental and Compliance - The company’s environmental performance showed a 100% compliance rate for wastewater discharge, with ammonia nitrogen and sulfur dioxide emissions decreasing by 58.93% and 8.78%, respectively[20]. - The company achieved a 100% compliance rate for wastewater discharge standards and a 100% compliance rate for hazardous waste disposal during the first half of 2022[77]. - The company has maintained its "Green Enterprise" title from Sinopec Group and continues to implement high standards for environmental management[76]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[84]. Research and Development - The company’s research and development efforts resulted in 55 patent applications, with 39 patents granted during the reporting period[20]. - Research and development expenses (excluding depreciation and amortization) increased to RMB 34,884,000 in 2022 from RMB 25,208,000 in 2021, showing a rise of about 38.4%[130]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 105,475[88]. - The largest shareholder, Sinopec Corp., held 5,459,455,000 shares, representing 50.44% of the total shares[90]. - A cash dividend of RMB 0.1 per share was approved for the 2021 fiscal year, totaling RMB 1,082,381,350[57].