6-K
SINOPEC SHANGHAI PETROCHEMICAL CO LTD (SPTJF)
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 6-K
REPORT OFFOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2022
Commission File Number: 1-12158
Sinopec Shanghai Petrochemical Company Limited
(Translation of registrant’s name into English)
No. 48Jinyi Road, Jinshan District, Shanghai, 200540
The People’s 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 ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
EXHIBITS
| Exhibit<br>Number | |
|---|---|
| 99.1 | Date of Meeting of the Board of Directors |
| 99.2 | Major Operating Data of the 2022 First Three Quarters |
| 99.3 | 2022 Third Quarterly Report |
Disclaimer—Forward-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 Information—C. Risk Factors” in our most recent annual report on Form 20-F filed on April 28, 2022, 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.
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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.
| SINOPEC SHANGHAI PETROCHEMICAL COMPANY LIMITED | ||
|---|---|---|
| Date: January 20, 2023 | By: | /s/ Wan Tao |
| Name: | Wan Tao | |
| Title: | Chairman of the Board of Directors |
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EX-99.1
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 norepresentation 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.
(A joint stock limited company incorporated in the People’s Republic of China)
(Stock Code: 00338)
Date of Meeting of the Board of Directors
This announcement is made pursuant to Rule 13.43 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The board of directors (the “Board”) of Sinopec Shanghai Petrochemical Company Limited (the “Company” and its subsidiaries, the “Group”) announces that a meeting of the Board of the Company will be held on Wednesday, 26 October 2022 for the purposes of considering and approving the third quarterly results of the Group for the nine months ended 30 September 2022 prepared in accordance with the China Accounting Standards for Business Enterprises for publication and transacting any other business.
| By Order of the Board |
|---|
| Sinopec Shanghai Petrochemical Company Limited |
| Liu Gang |
| Joint Company Secretary |
Shanghai, the PRC, 14 October 2022
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 directorsof the Company are Xie Zhenglin and Peng Kun; and the independent non-executive directors of the Company are Li Yuanqin, Tang Song, Chen Haifeng, Yang Jun and Gao Song.
EX-99.2
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 norepresentation 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.
Major Operating Data of the 2022 First Three Quarters
According to Rule 15 of the Self-regulatory Guidelines of the Shanghai Stock Exchange 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 nine months ended 30 September 2022 as follows:
| I. | Operating data of major products in the 2022 first three quarters | |||||
|---|---|---|---|---|---|---|
| Product | Production volume(10,000 tons) | Sales volume(10,000 tons) | Sales revenue(RMB1,000) | |||
| --- | --- | --- | --- | --- | --- | --- |
| Petroleum products | ||||||
| Diesel | 155.46 | 155.59 | 11,231,480 | |||
| Gasoline | 180.14 | 180.02 | 16,119,814 | |||
| Jet Fuel^note 1^ | 52.37 | 42.06 | 2,665,292 | |||
| Intermediate petrochemicals | ||||||
| PX ^note 2^ | 40.85 | 41.11 | 3,122,028 | |||
| Benzene^^^note 1^ | 20.76 | 20.17 | 1,454,929 | |||
| Ethylene Glycol^^^note 2^ | 6.13 | 3.97 | 177,182 | |||
| Ethylene Oxide | 15.90 | 15.61 | 1,044,428 | |||
| Ethylene^^^note 2^ | 41.45 | — | — | |||
| Resins and plastics | ||||||
| PE | 27.55 | 26.89 | 2,449,373 | |||
| PP | 27.87 | 26.10 | 2,164,072 | |||
| Polyester chips^^^note 1 note 2^ | 7.20 | 7.15 | 475,055 | |||
| Synthetic fibers | ||||||
| Acrylics | 1.31 | 1.41 | 229,129 |
Note 1: Sales volume excludes materials processed on a sub-contract basis.
Note 2: Part of the difference between the production volume and sales volume is for internal use.
1
The above data for sales volume and sales revenue does not include the data for the Group’s trading of petrochemical products.
| II. | Change in prices of major products and raw materials in the 2022 first three quarters |
|---|
Unit: RMB/ton
| Product | The average pricein the2022 first threequarters | The average pricein the2021 first threequarters | Year-on-yearchange | Quarter-on-quarterchange* | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Diesel | 7,219 | 5,151 | 40.14 | % | 1.15 | % | ||||
| Gasoline | 8,954 | 7,139 | 25.43 | % | 1.29 | % | ||||
| Jet Fuel | 6,336 | 3,515 | 80.27 | % | 4.94 | % | ||||
| Ethylene | — | — | — | — | ||||||
| PX | 7,594 | 5,576 | 36.18 | % | 0.08 | % | ||||
| Benzene | 7,212 | 5,973 | 20.75 | % | -0.69 | % | ||||
| Ethylene Glycol | 4,463 | 4,652 | -4.06 | % | -0.92 | % | ||||
| Ethylene Oxide | 6,692 | 6,570 | 1.85 | % | 0.00 | % | ||||
| PE | 9,109 | 8,521 | 6.90 | % | -2.54 | % | ||||
| PP | 8,293 | 8,754 | -5.27 | % | -0.58 | % | ||||
| Polyester chips | 6,646 | 5,457 | 21.79 | % | -0.52 | % | ||||
| Acrylics | 16,271 | 15,626 | 4.13 | % | -4.48 | % | ||||
| Raw material | The averageprocessing costin the 2022first threequarters | The averageprocessingcost in the2021 firstthree quarters | Year-on-yearchange | Quarter-on-quarterchange* | ||||||
| Crude oil | 4,617 | 3,048 | 51.47 | % | 1.69 | % | ||||
| * | Prices in the 2022 third quarter compared with that in the 2022 second quarter | |||||||||
| --- | --- |
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| III. | Miscellaneous |
|---|
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 Company’s 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, 24 October 2022
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 directorsof the Company are Xie Zhenglin and Peng Kun; and the independent non-executive directors of the Company are Li Yuanqin, Tang Song, Chen Haifeng, Yang Jun and Gao Song.
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EX-99.3
Exhibit 99.3
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make norepresentation 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.
(A joint stock limited company incorporated in the People’s Republic of China)
(Stock Code: 00338)
2022 Third Quarterly Report
This announcement is published simultaneously in Shanghai and Hong Kong. This announcement is published pursuant to the Rules Governing Listing of Stocks on Shanghai Stock Exchange in the People’s Republic of China and pursuant to the disclosure obligations under Rules 13.09 and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
1. Important Message
| 1.1 | The Board of Directors (the “Board”) and the Supervisory Committee of Sinopec Shanghai<br>Petrochemical Company Limited (the “Company” or “SPC”) as well as its directors, supervisors and senior management warrant the truthfulness, accuracy and completeness of the information contained in the 2022 third<br>quarterly report for the nine months ended 30 September 2022, and warrant that there are no false representations or misleading statements contained in or material omissions from this report and severally and jointly accept responsibility<br>pursuant to such information. |
|---|---|
| 1.2 | Mr. Wan Tao, Chairman of the Company, Mr. Du Jun, executive director, deputy president and CFO,<br>overseeing the accounting operations, and Ms. Yang Yating, person-in-charge of Accounting Department (Accounting Chief) and Director of Finance Department warrant<br>the truthfulness, accuracy and completeness of the financial report contained in this third quarterly report. |
| --- | --- |
| 1.3 | The financial report of the Company’s 2022 third quarterly report was prepared under the China Accounting<br>Standards for Business Enterprises and was unaudited. |
| --- | --- |
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2. Basic Information
| 2.1 | Major Accounting Data | |||||||
|---|---|---|---|---|---|---|---|---|
| Unit: RMB’000 | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| The ReportingPeriod* | Increase/decreaseas compared tothe correspondingperiod of theprevious year<br>(%) | From thebeginning of theyear to the endof the ReportingPeriod | Increase/decreaseas compared tothe correspondingperiod of theprevious year<br>(%) | |||||
| Revenue | 11,878,206 | -51.96 | 57,778,561 | -6.60 | ||||
| Net profit attributable to equity shareholders of the Company | -1,566,776 | -317.35 | -2,002,785 | -201.92 | ||||
| Net profit attributable to equity shareholders of the Company excluding non-recurring<br>items | -1,529,123 | -313.63 | -1,931,667 | -202.46 | ||||
| Net cash flows generated from operating activities | 1,670,792 | -18.34 | -4,734,330 | Not<br>Applicable | ||||
| Basic earnings per share (RMB/share) | -0.145 | Not<br>Applicable | -0.185 | Not<br>Applicable | ||||
| Diluted earnings per share (RMB/share) | -0.145 | Not<br>Applicable | -0.185 | Not<br>Applicable | ||||
| Return on net assets (weighted average) (%) | -5.472 | Decreased by<br>7.88<br>percentage<br>points | -6.920 | Decreased by<br>13.49<br>percentage<br>points | ||||
| As at the end of theReporting Period | As at the end of theprevious year | Increase/decrease at<br>the end of theReporting Period ascompared to the endof the previousyear(%) | ||||||
| --- | --- | --- | --- | --- | --- | --- | ||
| Total assets | 44,689,289 | 47,038,622 | -4.99 | |||||
| Total equity attributable to equity shareholders of the Company | 27,259,789 | 30,260,172 | -9.92 | |||||
| * | The Reporting Period thereafter means three months from July to September in 2022. | |||||||
| --- | --- |
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| 2.2 | Excluded non-recurring items and amount |
|---|
Unit: RMB’000
| Item | Amount for<br><br><br>the Reporting<br><br><br>Period | Amount from the<br><br><br>beginning of the<br> <br>year tothe end of<br> <br>the Reporting<br><br><br>Period | Note |
|---|---|---|---|
| Earnings or losses on disposal of non-current assets | -79 | -6,039 | — |
| Government grants recognized in current profits and losses, except for closely related to the regular operating of the Company, comply with national policies and regulations, and continuously comfort according to certain standards,<br>quotas or quantities | 9,779 | 20,684 | — |
| In addition to the effective hedging business related to the Company’s normal business, the earnings or losses from changes in fair value arising from the holding of trading financial assets, derivative financial assets,<br>trading financial liabilities, derivative financial liabilities, and the investment income from the disposal of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities, and other debt<br>investments | 1,260 | -17,045 | Amount in the Reporting Period: structural deposit income 1,506, loss on disposal of derivative financial instruments -246, loss on changes in fair value of financial assets and liabilities 0;<br>Amount from the beginning of the year to the end of the Reporting Period: structural deposit income 10,806, loss on disposal of derivative financial instruments - 18,864, loss on changes in fair value of financial assets and liabilities -<br>8,987 |
| Earnings or losses from entrusted loans | 37 | 2,704 | — |
| Other non-operating income and expenses other than those mentioned above | -31,394 | -51,500 | — |
| Other earnings or losses meeting the definition of non-recurring earnings or losses | -21,740 | -32,178 | Amount in the Reporting Period: -21,270 for dismissal welfare and - 470 for discount loss of receivables; Amount from the beginning of the year to the end of the Reporting Period: -29,521 for dismissal welfare and -2,657 for discount loss of receivables |
| Less: Tax effect for the items above | 3,786 | 11,492 | — |
| Effect on Non-Controlling interests (after tax) | 698 | 764 | — |
| Total | -37,653 | -71,118 | — |
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| 2.3 | Description of Substantial Changes in Major Financial Report Items and Financial Indicators of the Company | |
|---|---|---|
| Item | Change (%) | Major reason |
| --- | --- | --- |
| Operating Profit_during the Reporting Period | -51.96% | On 18 June 2022, an explosion accident occurred in the Company’s No.1 ethylene glycol plant. After the accident, the main production equipment of the Company was shut down, resulting in a decline in sales<br>revenue and operating performance in the Reporting Period. As of the end of the Reporting Period, the main production equipment of the Company has resumed production. |
| Net profit attributable to equity shareholders of the Company_during the Reporting Period | -317.35% | |
| Net profit attributable to equity shareholders of the Company excluding non-recurring items_during the Reporting Period | -313.63% | |
| Basic earnings per share (RMB/share)_ during the Reporting Period | Not<br><br><br>Applicable | |
| Diluted earnings per share (RMB/share)_ during the Reporting Period | Not<br><br><br>Applicable | |
| Net profit attributable to equity shareholders of the Company_ from the beginning of the year to the end of the Reporting Period | -201.92% | From the beginning of the year to the end of the Reporting Period, the average price rise of petrochemical products was less than the average price rise of crude oil. Meanwhile, on 18 June 2022, an explosion accident<br>occurred in the Company’s No.1 ethylene glycol plant. After the accident, the main production equipment of the Company was shut down. The above reasons resulted in a significant decline in the Company’s operating performance. |
| Net profit attributable to equity shareholders of the Company excluding non-recurring items_from the beginning of the year to the end of the Reporting Period | -202.46% | |
| Basic earnings per share (RMB/share)_ from the beginning of the year to the end of the Reporting Period | Not<br><br><br>Applicable | |
| Diluted earnings per share (RMB/share)_ from the beginning of the year to the end of the Reporting Period | Not<br><br><br>Applicable | |
| Net cash flows generated from operating activities_ from the beginning of the year to the end of the Reporting Period | Not<br><br><br>Applicable | From the beginning of the year to the end of the Reporting Period, the cash received from selling goods and providing services decreased compared with the same period last year, and the cash paid for purchasing goods and receiving<br>services increased compared with the same period last year. |
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3. Shareholder’s Information
| 3.1 | Total Number of Shareholders as at the End of the Reporting Period, Top Ten Shareholders and Shareholdingsof the Top Ten Shareholders of Shares in Circulation (or Unrestricted Shares) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unit: Share | |||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Number of shareholders as at the end of theReporting Period | 102,846 | Total number of preferred shareholders withvoting rights restored as at the end of theReporting Period (if any) | 0 | ||||||||
| Shareholdings of the top tenshareholders | |||||||||||
| Name of shareholder | Type of<br>shareholder | Number of shares<br>held at the end of<br>the Reporting<br>Period | Percentage of<br>total<br>shareholding<br>(%) | Number of<br>shares with<br>selling<br>restrictions | Number of shares pledged,<br>marked or frozen | ||||||
| Situationof theshares | Number | ||||||||||
| China Petroleum & Chemical Corporation | State-owned<br>legal person | 5,459,455,000 | 50.44 | 0 | None | 0 | |||||
| HKSCC (Nominees) Limited | Overseas legal<br>person | 3,452,738,030 | 31.90 | 0 | Unknown | 0 | |||||
| HKSCC Limited | Others | 74,574,892 | 0.69 | 0 | None | 0 | |||||
| Wang Lei | Domestic<br>natural person | 46,120,300 | 0.43 | 0 | None | 0 | |||||
| GF Fund – Agricultural Bank of China – GF CSI Financial Asset Management Plan | Others | 45,222,300 | 0.42 | 0 | None | 0 | |||||
| Dacheng Fund – Agricultural Bank of China – Dacheng CSI Financial Asset Management<br>Plan | Others | 43,531,469 | 0.40 | 0 | None | 0 | |||||
| Southern Fund– Agricultural Bank of China – Southern CSI Financial Asset Management<br>Plan | Others | 43,083,700 | 0.40 | 0 | None | 0 | |||||
| Yinhua Fund– Agricultural Bank of China – Yinhua CSI Financial Asset Management<br>Plan | Others | 43,051,716 | 0.40 | 0 | None | 0 | |||||
| E Fund Fund– Agricultural Bank of China – E Fund CSI Financial Asset Management<br>Plan | Others | 43,038,700 | 0.40 | 0 | None | 0 | |||||
| Bosera Fund – Agricultural Bank of China – Bosera CSI Financial Asset Management<br>Plan | Others | 42,675,700 | 0.39 | 0 | None | 0 |
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| Shareholdings of the Top Ten Shareholderswith Unlimited Conditions of Sale | |||||||
|---|---|---|---|---|---|---|---|
| Name of shareholder | Number of Liquidity Shares HoldingUnlimited Conditions of Sale | Type and quantity of shares | |||||
| Type | Quantity | ||||||
| China Petroleum & Chemical Corporation | 5,459,455,000 | RMB common stocks | 5,459,455,000 | ||||
| HKSCC (Nominees) Limited | 3,452,738,030 | Overseas listed foreign share | 3,452,738,030 | ||||
| HKSCC Limited | 74,574,892 | RMB common stocks | 74,574,892 | ||||
| Wang Lei | 46,120,300 | RMB common stocks | 46,120,300 | ||||
| GF Fund – Agricultural Bank of China – GF CSI Financial Asset Management Plan | 45,222,300 | RMB common stocks | 45,222,300 | ||||
| Dacheng Fund – Agricultural Bank of China – Dacheng CSI Financial Asset Management<br>Plan | 43,531,469 | RMB common stocks | 43,531,469 | ||||
| Southern Fund– Agricultural Bank of China – Southern CSI Financial Asset Management<br>Plan | 43,083,700 | RMB common stocks | 43,083,700 | ||||
| Yinhua Fund– Agricultural Bank of China – Yinhua CSI Financial Asset Management<br>Plan | 43,051,716 | RMB common stocks | 43,051,716 | ||||
| E Fund Fund– Agricultural Bank of China – E Fund CSI Financial Asset Management<br>Plan | 43,038,700 | RMB common stocks | 43,038,700 | ||||
| Bosera Fund – Agricultural Bank of China – Bosera CSI Financial Asset Management<br>Plan | 42,675,700 | RMB common stocks | 42,675,700 | ||||
| Explanation of the related relationship or acting in concert relationship of the above<br>shareholders | Among the above-mentioned shareholders, China Petroleum & Chemical Corporation, a<br>state-owned legal person, does not have any related relationship with the other<br>shareholders, and does not constitute an<br>act-in-concert party under the Administration<br>Measures on Acquisition of Listed Companies. Among the above-mentioned<br>shareholders, HKSCC (Nominees) Limited is a<br>nominee and HKSCC Limited is the<br>nominal holder of the Company’s Shanghai- Hong Kong Stock Connect. Apart from the<br>above, the Company is not aware of any other related relationships among the other<br>shareholders, or whether any other<br>shareholder constitutes an act-in-concert party under<br>the Administrative Measures on Acquisition of Listed Companies. |
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4. Other reminders
On 18 June 2022, an explosion accident occurred in the Company’s No.1 ethylene glycol plant, causing a fire on surrounding pipelines. The Company took protective shutdown measures for the main production equipment based on safety considerations. After the accident, the Company carried out restorative maintenance on the production equipment affected by the accident, and orderly promoted the resumption of work and production in three stages: in the first stage, the main equipment of oil refining was resumed and five processing lines were arranged to cooperate with the starting up; In the second stage, the Company improved the production capacity of chemical raw materials and plastic products, and arranged the commencement of ethylene old area lines; In the third stage, the production capacity of the whole plant was fully restored and the ethylene new area line was arranged to start. As of 30 September 2022, the No. 2 ethylene glycol plant of the chemical department of the Company started up smoothly and produced qualified products, and the work of resuming production was completed.
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5. Appendix
| 5.1 | CONSOLIDATED BALANCE SHEETS |
|---|
AS AT 30 SEPTEMBER 2022
| Unit: RMB’000 | ||||
|---|---|---|---|---|
| Items | As at 30September 2022 | As at 31December 2021 | ||
| (Unaudited) | (Audited) | |||
| Current assets | ||||
| Cash at bank and on hand | 9,087,458 | 12,498,617 | ||
| Transactional financial assets | 1,010,806 | — | ||
| Derivative financial assets | 176,863 | 81,405 | ||
| Accounts receivable | 1,898,544 | 1,169,405 | ||
| Accounts receivable financing | 511,178 | 1,072,690 | ||
| Advances to suppliers | 140,921 | 60,577 | ||
| Other receivables | 20,993 | 108,728 | ||
| Inventories | 7,466,394 | 5,923,525 | ||
| Other assets classified as held for sale | 71,147 | 17,329 | ||
| Total current assets | 20,384,304 | 20,932,276 | ||
| Non-current assets | ||||
| Long-term equity investments | 3,614,210 | 4,188,888 | ||
| Investment in other equity instruments | 5,000 | 5,000 | ||
| Investment properties | 340,694 | 352,188 | ||
| Fixed assets | 12,303,506 | 11,328,065 | ||
| Construction in progress | 2,754,769 | 3,293,177 | ||
| Right-of-use<br>assets | 18,892 | 4,879 | ||
| Intangible assets | 377,632 | 392,608 | ||
| Long-term prepaid expenses | 801,708 | 775,963 | ||
| Deferred tax assets | 672,471 | 184,143 | ||
| Other non-current assets | 3,416,103 | 5,581,435 | ||
| Total non-current assets | 24,304,985 | 26,106,346 | ||
| Total assets | 44,689,289 | 47,038,622 |
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CONSOLIDATED BALANCE SHEETS (CONTINUED)
AS AT 30 SEPTEMBER 2022
| Unit: RMB’000 | ||||
|---|---|---|---|---|
| Items | As at 30September 2022 | As at 31December 2021 | ||
| (Unaudited) | (Audited) | |||
| Current liabilities | ||||
| Short-term borrowings | 2,060,000 | 1,540,000 | ||
| Derivative financial liabilities | 6,670 | 23,804 | ||
| Notes payable | 127,640 | 830,006 | ||
| Accounts payable | 6,271,548 | 5,888,879 | ||
| Contract liabilities | 692,851 | 430,882 | ||
| Employee benefits payable | 843,929 | 260,096 | ||
| Taxes payable | 1,255,711 | 4,070,663 | ||
| Other payables | 1,101,360 | 1,287,064 | ||
| Non-current liabilities due within one year | 11,045 | 23,029 | ||
| Other current liabilities | 4,063,254 | 1,441,320 | ||
| Total current liabilities | 16,434,008 | 15,795,743 | ||
| Non-current liabilities | ||||
| Long-term borrowings | 700,000 | 700,000 | ||
| Lease liabilities | 10,836 | 1,384 | ||
| Deferred revenue | 124,939 | 112,720 | ||
| Deferred tax liabilities | 31,381 | 33,344 | ||
| Total non-current liabilities | 867,156 | 847,448 | ||
| Total liabilities | 17,301,164 | 16,643,191 | ||
| Owners’ equity (or shareholders’ equity) | ||||
| Paid-in capital (or share capital) | 10,823,814 | 10,823,814 | ||
| Capital surplus | 614,187 | 610,327 | ||
| Other comprehensive income | 128,051 | 59,425 | ||
| Specific reserve | 228,809 | 216,512 | ||
| Surplus reserve | 6,672,639 | 6,672,639 | ||
| Undistributed profits | 8,792,289 | 11,877,455 | ||
| Total equity attributable to equity owners (or shareholders) of the Company | 27,259,789 | 30,260,172 | ||
| Non-Controlling interests | 128,336 | 135,259 | ||
| Total owners’ equity (or shareholders’ equity) | 27,388,125 | 30,395,431 | ||
| Total liabilities and owners’ equity (or shareholders’ equity) | 44,689,289 | 47,038,622 |
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| 5.2 | CONSOLIDATED INCOME STATEMENTS |
|---|
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2022
Unit: RMB’000 Audit type: unaudited
| Items | First three quarters of2022<br>(January to September) | First three quarters<br>of 2021<br>(January to September) | ||
|---|---|---|---|---|
| Total revenue | 57,778,561 | 61,863,093 | ||
| Including: Revenue | 57,778,561 | 61,863,093 | ||
| Total operating cost | 59,745,874 | 60,150,245 | ||
| Including: Cost of sales | 51,267,019 | 48,013,441 | ||
| Taxes and surcharges | 6,972,764 | 9,194,779 | ||
| Selling and distribution expenses | 211,241 | 322,451 | ||
| General and administrative expenses | 1,586,069 | 2,828,633 | ||
| R&D expenses | 82,916 | 75,153 | ||
| Financial expenses | -374,135 | -284,212 | ||
| Add: Other income | 12,471 | 25,331 | ||
| Investment income (“-” to indicate loss) | -185,032 | 777,741 | ||
| Change in fair value gains (“-” to indicate loss) | 1,819 | 27,278 | ||
| Credit impairment losses (“-” to indicate loss) | -4,893 | — | ||
| Asset impairment losses (“-” to indicate loss) | -262,962 | -108,485 | ||
| Asset disposal income (“-” to indicate loss) | -1,062 | 79,085 |
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CONSOLIDATED INCOME STATEMENTS (CONTINUED)
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2022
Unit: RMB’000 Audit type: unaudited
| Items | First three quartersof 2022(January to September) | First three quartersof 2021(January to September) | ||
|---|---|---|---|---|
| Operating profit (“-” to indicate loss) | -2,406,972 | 2,513,798 | ||
| Add: Non-operating income | 15,135 | 11,365 | ||
| Less: Non-operating expenses | 63,399 | 72,881 | ||
| Total profit (“-” to indicate loss) | -2,455,236 | 2,452,282 | ||
| Less: Income tax expenses | -456,962 | 480,882 | ||
| Net Profit (“-” to indicate loss) | -1,998,274 | 1,971,400 | ||
| Classification by business continuity | ||||
| 1. Net profit from continuing operations (“-” to indicate loss) | -1,998,274 | 1,971,400 | ||
| Classification by ownership | ||||
| 1. Attributable to equity shareholders of the Company (“-” to indicate<br>loss) | -2,002,785 | 1,965,050 | ||
| 2. Non-Controlling interests<br>(“-” to indicate loss) | 4,511 | 6,350 | ||
| Other comprehensive income, net of tax | 220,443 | 77,450 | ||
| Net income after tax of other comprehensive income attributable to the equity shareholders of the Company | 220,443 | 77,450 | ||
| 2. Other comprehensive income reclassified into earnings or losses | 220,443 | 77,450 | ||
| a. Other comprehensive income that can be transferred to profit or loss<br>under equity method | -22,558 | 702 | ||
| b. Cash flow hedging reserve | 243,001 | 76,748 | ||
| Total comprehensive income | -1,777,831 | 2,048,850 | ||
| Attributable to equity shareholders of the Company | -1,782,342 | 2,042,500 | ||
| Attributable to Non-Controlling interests | 4,511 | 6,350 | ||
| Earnings per share | ||||
| Basic earnings per share (RMB) | -0.185 | 0.182 | ||
| Diluted earnings per share (RMB) | -0.185 | 0.182 |
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| 5.3 | CONSOLIDATED CASH FLOW STATEMENTS |
|---|
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2022
Unit: RMB’000 Audit type: unaudited
| Items | First three quarters<br>of 2022<br>(January to September) | First three quarters<br>of 2021<br>(January to September) | ||
|---|---|---|---|---|
| 1. Cash flows from operating activities | ||||
| Cash received from sales of goods or rendering of services | 62,557,584 | 65,528,288 | ||
| Refund of taxes and surcharges | 1,183,540 | 98,018 | ||
| Cash received relating to other operating activities | 180,928 | 165,997 | ||
| Sub-total of cash inflows | 63,922,052 | 65,792,303 | ||
| Cash paid for goods and services | 55,594,090 | 51,964,737 | ||
| Cash paid to and on behalf of employees | 2,267,514 | 2,107,455 | ||
| Payments of taxes and surcharges | 10,385,945 | 11,784,185 | ||
| Cash paid relating to other operating activities | 408,833 | 279,537 | ||
| Sub-total of cash outflows | 68,656,382 | 66,135,914 | ||
| Net cash flows generated from operating activities | -4,734,330 | -343,611 | ||
| 2. Cash flows from investing activities | ||||
| Cash received from investment recovery | 150,000 | 4,700,000 | ||
| Cash received from returns on investments | 671,805 | 746,659 | ||
| Net cash received from disposal of fixed assets, intangible assets and other long-term<br>assets | 10,401 | 69,099 | ||
| Cash received relating to other investing activities | 8,957,483 | 3,374,332 | ||
| Sub-total of cash inflows | 9,789,689 | 8,890,090 | ||
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | 1,899,984 | 2,617,962 | ||
| Cash paid for investment | 1,000,000 | 8,150,000 | ||
| Net cash received from subsidiaries and other business units | 296,672 | — | ||
| Cash paid to other related investment activities | 2,802,657 | 1,999,537 | ||
| Sub-total of cash outflows | 5,999,313 | 12,767,499 | ||
| Net cash flows generated from operating activities. | 3,790,376 | -3,877,409 |
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CONSOLIDATED CASH FLOW STATEMENTS (CONTINUED)
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2022
Unit: RMB’000 Audit type: unaudited
| Items | First three quarters of<br>2022<br>(January to September) | First three quarters of<br>2021<br>(January to September) | ||
|---|---|---|---|---|
| 3. Cash flows from financing activities | ||||
| Cash received from borrowings | 16,485,000 | 18,663,131 | ||
| Cash received from short-term bonds | 5,000,000 | — | ||
| Sub-total of cash inflows | 21,485,000 | 18,663,131 | ||
| Cash repayments of borrowings | 15,984,800 | 16,951,131 | ||
| Cash repayments of short-term bonds | 3,000,000 | — | ||
| Cash paid for distribution of dividends or profits and interest expenses | 1,182,055 | 1,166,963 | ||
| Cash paid for other financing activities | 9,629 | 10,721 | ||
| Sub-total of cash outflows | 20,176,484 | 18,128,815 | ||
| Net cash flows generated from financing activities | 1,308,516 | 534,316 | ||
| 4. Effect of foreign exchange rate changes on cash and cashequivalents | 18,115 | -2,063 | ||
| 5. Net increase in cash and cash equivalents | 382,677 | -3,688,767 | ||
| Add: Cash and cash equivalents at beginning of the Reporting Period | 5,112,010 | 6,916,408 | ||
| 6. Cash and cash equivalents at end of the Reporting Period | 5,494,687 | 3,227,641 |
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| By Order of the Board |
|---|
| Sinopec Shanghai Petrochemical CompanyLimited |
| Liu Gang |
| Joint Company Secretary |
Shanghai, the PRC, 26 October 2022
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 Peng Kun; and the independent non-executive directors of the Company are Li Yuanqin, Tang Song, Chen Haifeng, YangJun and Gao Song.
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