智通财经网·2026-01-20 01:44Core Viewpoint - Shanghai Petrochemical (00338) is expected to report significant net losses for the fiscal year ending December 31, 2025, primarily due to declining international crude oil prices and reduced market demand for its products [1] Financial Performance - The company anticipates a net loss attributable to shareholders of approximately RMB 12.89 billion to RMB 15.76 billion for 2025, indicating a loss compared to the same period in 2024 [1] - The expected net loss, excluding non-recurring items, is projected to be around RMB 12.80 billion to RMB 15.64 billion, also reflecting a decline from 2024 [1] Market Conditions - The forecasted losses are attributed to a general downward trend in international crude oil prices and a lack of significant improvement in product market demand [1] - The gross profit margin for the company's main refining products is expected to shrink, contributing to the overall operational losses [1] Operational Impact - The company will also face challenges due to major maintenance work on production facilities in the fourth quarter, which is expected to lead to a decrease in total commodity output [1]