Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
January 24 2024 - 4:03PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 6-K
REPORT OF
FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2024
Commission File Number: 1-12158
Sinopec Shanghai Petrochemical Company Limited
(Translation of registrants name into English)
No. 48
Jinyi Road, Jinshan District, Shanghai, 200540
The Peoples Republic of China
(Address of principal executive offices)
Indicate by check mark whether
the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form
40-F ☐
EXHIBITS
DisclaimerForward-Looking Statements
We may, in this document, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of
future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, expectations, developments and business strategies. Words such as believe, anticipate,
expect, intend, seek, will, plan, could, may, endeavor, target, forecast and project and similar expressions are
intended to identify such forward-looking statements but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are
risks that the predictions, forecasts, projections, and other forward-looking statements will not be achieved. If one or more of these risks materialize, or should underlying assumptions prove incorrect, our actual results may differ materially from
those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These
factors and others are discussed more fully under the section titled Item 3. Key InformationC. Risk Factors in our most recent annual report on Form 20-F filed on April 26,
2023, and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider
both these factors and other uncertainties and events. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information,
future events or otherwise.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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SINOPEC SHANGHAI PETROCHEMICAL COMPANY LIMITED |
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Date: January 24, 2024 |
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By: |
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/s/ Wan Tao |
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Name: |
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Wan Tao |
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Title: |
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Chairman of the Board of Directors |
3
Exhibit 99.1
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Sinopec Shanghai Petrochemical Company Limited
(A joint stock limited company incorporated in the Peoples Republic of China)
(Stock Code: 00338)
Major Operating Data of the 2023 Financial Year
According to Rule 15 of the Guidelines of the Shanghai Stock Exchange for Self-regulatory Guidelines for Listed Companies No.3 Industry Information
Disclosure No.13 Chemical Industry, Sinopec Shanghai Petrochemical Company Limited (the Company, together with its subsidiaries, the Group) hereby announces the major operating data for the twelve months
ended 31 December 2023 as follows:
I. |
MAJOR OPERATING DATA OF THE 2023 FINANCIAL YEAR |
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Product |
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Production volume (10,000 tons) |
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Sales volume (10,000 tons) |
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Sales revenue (RMB1,000) |
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Petroleum products |
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Diesel |
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339.23 |
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340.39 |
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22,752,021 |
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Gasoline |
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334.89 |
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335.20 |
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28,705,944 |
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Jet Fuel note 1 |
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192.54 |
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132.08 |
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7,731,896 |
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Intermediate petrochemicals |
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PX note 2 |
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70.72 |
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70.87 |
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5,261,758 |
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Benzene note 1 |
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37.27 |
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34.43 |
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2,199,214 |
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Ethylene Glycol note 2 |
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7.19 |
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6.05 |
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219,671 |
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Ethylene Oxide |
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11.97 |
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11.47 |
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639,636 |
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Ethylene note 2 |
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64.11 |
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Resins and plastics |
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PE |
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52.56 |
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49.84 |
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3,815,764 |
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PP |
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42.18 |
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40.64 |
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3,006,997 |
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Polyester chips note 1 note 2 |
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3.77 |
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3.81 |
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224,093 |
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Synthetic fibres |
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Acrylics |
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2.14 |
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2.42 |
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331,064 |
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- 1 -
Note 1: Sales volume excluded materials processed on a
sub-contract basis.
Note 2: Part of the difference between the production volume and sales
volume is for internal use.
The above data for sales volume and sales revenue does not include the data for the Groups trading of
petrochemical products.
II. |
CHANGE IN PRICES OF MAJOR PRODUCTS AND RAW MATERIALS IN THE 2023 FINANCIAL YEAR |
Unit: RMB/ton
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Product |
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The average price in the 2023 financial year |
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The average price in the 2022 financial year |
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Year-on-year Change |
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Compared with the fourth quarter of 2023 |
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Diesel |
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6,684 |
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7,158 |
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-6.62 |
% |
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2.02 |
% |
Gasoline |
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8,564 |
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8,901 |
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-3.79 |
% |
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1.44 |
% |
Jet Fuel |
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5,854 |
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6,495 |
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-9.87 |
% |
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5.69 |
% |
Ethylene |
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PX |
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7,425 |
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7,433 |
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-0.11 |
% |
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-5.86 |
% |
Benzene |
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6,388 |
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6,920 |
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-7.69 |
% |
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1.69 |
% |
Ethylene |
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Glycol |
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3,634 |
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4,136 |
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-12.13 |
% |
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Ethylene Oxide |
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5,578 |
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6,561 |
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-14.98 |
% |
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PE |
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7,656 |
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8,703 |
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-12.03 |
% |
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0.24 |
% |
PP |
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7,399 |
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8,186 |
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-9.62 |
% |
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4.12 |
% |
Polyester chips |
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5,882 |
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6,385 |
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-7.88 |
% |
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Acrylics |
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13,706 |
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15,794 |
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-13.22 |
% |
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-6.10 |
% |
- 2 -
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Raw material |
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The average processing cost in the 2023 financial year |
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The average processing cost in the 2022 financial year |
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Year-on-year Change |
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Compared with the fourth quarter of 2023 |
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Crude oil |
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4,358 |
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4,683 |
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-6.94 |
% |
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11.39 |
% |
The above-mentioned operating data was calculated based on the internal statistics of the Company and is intended to provide an overview of the production and
operation of the Company to the investors on a timely basis. The operating data is unaudited and does not make any express or implied forecasts or guarantees in respect of the Companys future operating conditions. Investors are advised to
exercise caution when using such information.
By Order of the Board
Sinopec Shanghai Petrochemical Company Limited
Liu Gang
Joint Company Secretary
Shanghai, the PRC, 23 January 2024
As at the date of
this announcement, the executive directors of the Company are Wan Tao, Guan Zemin, Du Jun and Huang Xiangyu; the non-executive directors of the Company are Xie Zhenglin and Qin Zhaohui; and the independent non-executive directors of the Company are Tang Song, Chen Haifeng, Yang Jun, Zhou Ying and Huang Jiangdong.
- 3 -
Exhibit 99.2
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Sinopec Shanghai Petrochemical Company Limited
(A joint stock limited company incorporated in the Peoples Republic of China)
(Stock Code: 00338)
PROFIT WARNING
ANNOUNCEMENT ON ESTIMATED LOSS IN ANNUAL RESULTS OF 2023
This announcement is made by Sinopec Shanghai Petrochemical Company Limited (the Company) pursuant to Part XIVA of the Securities and
Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The board of directors of the Company (the Board) and all the members of the Board warrant that there are no false representation,
misleading statements or material omissions, and accept legal responsibilities for the truthfulness, accuracy and completeness of its contents.
Important Notice:
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Under the China Accounting Standards for Business Enterprises, the Group estimates to record a net loss
attributable to equity shareholders of the Company of approximately RMB1,265 million to RMB1,546 million in 2023. |
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Under the China Accounting Standards for Business Enterprises, the Group estimates to record a net loss
attributable to equity shareholders of the Company after deducting non-recurring items of approximately RMB1,247 million to RMB1,525 million in 2023. |
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1. |
ESTIMATED RESULTS OF THE PERIOD |
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(1) |
Period of estimated results: 1 January 2023 to 31 December 2023 (the Period).
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(2) |
Estimated results: based on preliminary estimates by the finance department of the Company, the Company and its
subsidiaries (the Group) estimate to record a net loss attributable to equity shareholders of the Company of approximately RMB1,265 million to RMB1,546 million as of 31 December 2023. The Group estimates that the net
loss attributable to the equity shareholders of the Group after deducting non-recurring items will be approximately RMB1,247 million to RMB1,525 million as of 31 December 2023. Specific financial
figures will be disclosed in the 2023 annual report of the Company. |
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(3) |
The estimated results have not been reviewed or audited by certified public accountants. |
2. |
RESULTS FOR THE CORRESPONDING PERIOD OF THE PREVIOUS YEAR |
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Under the China Accounting Standards for Business Enterprises |
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Net profit/(loss) attributable to equity shareholders of the Company (RMB000) |
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(2,872,072 |
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Net profit/(loss) attributable to the equity shareholders of the Company after deducting non-recurring items (RMB000) |
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(2,790,773 |
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Earnings/(loss) per share (RMB per share) |
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(0.265 |
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3. |
MAJOR REASONS FOR ESTIMATED LOSS IN THE RESULTS FOR THE PERIOD |
In 2023, the crude oil prices fluctuated widely and the market demand was sluggish. The price difference between chemical products and raw
materials remained at a low level, and profit margins were narrow. The decrease in the average price of major petrochemical products of the Company exceeded the decrease in the average processing cost of the crude oil. In addition, the
Companys investment income was unsatisfactory, etc. The combination of the above reasons led to a loss in the Companys operating results.
The Company does not have any significant uncertainties that will affect the accuracy of the contents of this estimated results.
- 2 -
The estimated figures above are based on preliminary assessment only. Specific and accurate financial figures will be disclosed in the 2023
annual report to be officially published by the Company. Investors are advised to pay attention to the investment risk.
By Order of the Board
Sinopec Shanghai Petrochemical Company Limited
Liu Gang
Joint Company Secretary
Shanghai, the PRC, 23 January 2024
As at the date of this
announcement, the executive directors of the Company are Wan Tao, Guan Zemin, Du Jun and Huang Xiangyu; the non-executive directors of the Company are Xie Zhenglin and Qin Zhaohui; and the independent non-executive directors of the Company are Tang Song, Chen Haifeng, Yang Jun, Zhou Ying and Huang Jiangdong.
- 3 -
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