Sinopec Shanghai Petrochemical Company (338) Q1 2026 earnings summary

Executive summary

• Returned to profitability in Q1 2026 with net profit attributable to equity shareholders of RMB 415 million, compared to a net loss of RMB 90 million in Q1 2025.

• Operating income declined 9.5% year-over-year to RMB 17.66 billion.

• Gross profit of petroleum products increased, driving improved operating results.

Financial highlights

• Total profit reached RMB 575 million, reversing a loss of RMB 93 million in the prior year period.

• Basic and diluted EPS were RMB 0.039, up from -0.008 year-over-year.

• Net cash flows from operating activities dropped to an outflow of RMB 788 million from an inflow of RMB 1.79 billion, mainly due to higher cash paid for goods and services.

• Total assets stood at RMB 42.26 billion, down 0.7% from year-end 2025.

• Total equity attributable to shareholders increased 1.7% to RMB 23.54 billion.

Outlook and guidance

• Improved gross profit in petroleum products expected to support future performance.