Sinopec Shanghai Petrochemical Company (338) Q1 2025 earnings summary

Executive summary

• Operating income for Q1 2025 was RMB 19.52 billion, down 8.28% year-over-year from RMB 21.28 billion.

• Net profit attributable to equity shareholders was a loss of RMB 89.84 million, compared to a profit of RMB 84.06 million in Q1 2024.

• The decline in profit was mainly due to decreased product sales during the reporting period.

Financial highlights

• Net profit excluding extraordinary items was a loss of RMB 85.21 million, down 186.85% year-over-year.

• Basic and diluted EPS both fell to -0.008 RMB/share from 0.008 RMB/share year-over-year.

• Net cash flows from operating activities improved to RMB 1.79 billion from a net outflow of RMB 718 million in Q1 2024.

• Total assets at quarter-end were RMB 41.24 billion, down 1.26% from year-end 2024.

• Total equity attributable to shareholders was RMB 24.92 billion, down 0.46% from year-end 2024.

Key financial ratios and metrics

• Return on net assets (weighted average) was -0.359%, a decrease of 0.70 percentage points year-over-year.

• Gross margin and other profitability metrics declined due to lower sales and higher relative costs.