Sinopec Shanghai Announces Profitable Turnaround

Sinopec Shanghai Petrochemical Co (HK:0338) has released an update.

Sinopec Shanghai Petrochemical Co. has announced its interim financial results for the first half of 2024, revealing a notable turnaround with a total profit of RMB 37,495 compared to a loss in the previous year. Revenue slightly decreased by 3.12%, while net profit attributable to equity shareholders surged from a significant loss to RMB 27,912. The company also reported positive net cash flows from operating activities, contrasting the prior period’s negative figures.

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