6-K

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 2021

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><br><br>Number
99.1 2021 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—D. Risk Factors” in our most recent annual report on Form 20-F filed on April 28, 2021 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.

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: October 28, 2021	By: /s/ Wu Haijun
	Name: Wu Haijun
	Title: Chairman of the Board of Directors

EX-99.1

Exhibit 99.1

(A joint stock limited company incorporated in the People’s Republic of China)

(Stock Code: 00338)

2021Third 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 Petrochemical<br>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 2021 third quarterly report for the nine<br>months ended 30 September 2021, 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 pursuant to such information.<br>
1.2	Mr. Wu Haijun, Chairman of the Company, Mr. Du Jun, overseeing the accounting operations, and<br>Ms. Yang Yating, person-in-charge of Accounting Department (Accounting Chief) and Director of Finance Department warrant the truthfulness, accuracy and completeness<br>of the financial report contained in this third quarterly report.
---	---
1.3	The financial report of the Company’s 2021 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
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Unit: RMB’000

	The ReportingPeriod<br>(July toSeptember)		Increase/decreaseas compared tothe corresponding<br>period of the<br>previous year<br>(%)			From thebeginning of theyear to the endof the ReportingPeriod (January toSeptember)		Increase/decrease<br>as compared to<br>the corresponding<br>period of the<br>previous year<br>(%)
Revenue		24,726,487		28.18	%		61,863,093		12.57	%
Net profit attributable to equity shareholders of the Company		720,861		-32.87	%		1,965,050		Not Applicable
Net profit attributable to equity shareholders of the Company excluding non-recurring items		715,775		-25.81	%		1,885,201		Not Applicable
Net cash flows generated from operating activities		2,045,941		159.18	%		-343,611		Not Applicable
Basic earnings per share (RMB/share)		0.067		-33.00	%		0.182		Not Applicable
Diluted earnings per share (RMB/share)		0.067		-33.00	%		0.182		Not Applicable
Return on net assets<br><br><br>(weighted average) (%)		2.408		Decreased<br>by 1.86<br>percentage<br>points			6.572		Increased by<br>8.90<br>percentage<br>points
	As at the end of the<br>Reporting Period					As at the end of theprevious year		Increase/decrease atthe end of theReporting Period ascompared to the end ofthe previous year (%)
Total assets		47,225,715					44,749,173		5.53	%
Total equity attributable to equity shareholders of the Company		30,219,104					29,218,033		3.43	%

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2.2	Excluded non-recurring items and amount

Unit: RMB’000

Item	Amount for theReporting Period<br>(July to September)		Amount from the beginningof the year to the end of theReporting Period<br>(January to September)
Earnings or losses on disposal of non-current assets<br>(including the write off part of the provision for asset impairment)		0		62,290
Government grants recognized in current profits and losses (except for closely related to the<br>regular operating of the Company, comply with national policies and regulations, and continuously comfort according to certain standards, quotas or quantities)		22,132		33,544
Dismissal benefits		-1,813		-10,250
Gains from changes in fair value of derivative financial assets and liabilities		3,935		27,278
Investment income from structured deposits		27,326		49,535
Foreign exchange options and forward foreign exchange contracts earnings/(losses)		0		-151
Losses on discount of receivables		-993		-3,089
Other non-operating income and expenses other than those<br>mentioned above		-43,514		-52,935
Sub-total		7,073		106,222
Less: Tax effect for the items above		-1,884		-26,724
Effect on Non-Controlling interests (after tax)		-103		351
Total		5,086		79,849

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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
---	---	---
Net profit attributable to equity shareholders of the Company_during the Reporting Period	-32.87%	During the Reporting Period, the R&D investment increased and the income from asset disposal decreased.
Net profit attributable to equity shareholders of the Company_ from the beginning of the year to the end of the Reporting Period	Not Applicable	From the beginning of the year to the end of the Reporting Period, the demand for petroleum and petrochemical products improved significantly, the product price increased and the Company’s operating performance improved<br>significantly.
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	Not Applicable	From the beginning of the year to the end of the Reporting Period, the demand for petroleum and petrochemical products improved significantly, the product price increased and the Company’s operating performance improved<br>significantly.
Net cash flows generated from operating activities_during the Reporting Period	159.18%	During the Reporting Period, the Company accelerated inventory turnover and reduced operating receivables.
Net cash flows generated from operating activities_ from the beginning of the year to the end of the Reporting Period	Not Applicable	From the beginning of the year to the end of the Reporting Period, the Company’s operating performance improved significantly.
Basic earnings per share (RMB/share)_during the Reporting Period	-33.00%	During the Reporting Period, the operating performance decreased year-on-year.
Basic earnings per share (RMB/share)_ from the beginning of the year to the end of the Reporting Period	Not Applicable	From the beginning of the year to the end of the Reporting Period, the demand for petroleum and petrochemical products improved significantly, the product price increased, the Company’s operating performance improved<br>significantly and the earnings per share increased.
Diluted earnings per share (RMB/share)_during the Reporting Period	-33.00%	The Company has not issued any dilutive potential ordinary shares. Same reasons as basic earnings per share.
Diluted earnings per share (RMB/share)_ from the beginning of the year to the end of the Reporting Period	Not Applicable	The Company has not issued any dilutive potential ordinary shares. Same reasons as basic earnings per share.

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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

Total number of shareholders					97,639
Shareholdings of the topten shareholders
Name of shareholder<br><br><br>(in full)	Type ofshareholder	Number of sharesheld at the end ofthe ReportingPeriod	Percentage of<br>total<br>shareholding<br>(%)	Number ofshares with<br>selling<br>restrictions	Number of shares<br>pledged, marked or<br>frozen
					Situation ofthe shares	Number
China Petroleum & Chemical Corporation	State-owned<br>legal person	5,460,000,000	50.44	0	None	0
HKSCC (Nominees) Limited	Overseas legal<br>person	3,454,023,030	31.91	0	Unknown	0
HKSCC Limited	Others	108,134,904	1.00	0	None	0
Wang Lei	Domestic natural<br>person	65,000,000	0.60	0	None	0
China Merchants Bank Company Limited –<br> <br>SSE<br>Dividend ETF	Others	54,527,408	0.50	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 Plan	Others	43,531,469	0.40	0	None	0
China Asset Fund – Agricultural Bank of China – China Asset CSI Financial Asset Management Plan	Others	43,083,750	0.40	0	None	0
Bosera Fund –Agricultural Bank of China – Bosera CSI Financial Asset Management Plan	Others	43,083,700	0.40	0	None	0
E Fund Fund– Agricultural Bank of China – E Fund CSI Financial Asset Management Plan	Others	43,083,700	0.40	0	None	0

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Harvest Fund– Agricultural Bank of China – Harvest CSI Financial Asset Management Plan	Others	43,083,700	0.40	0	None	0
China EU Fund– Agricultural Bank of China – China EU CSI Financial Asset Management Plan	Others	43,083,700	0.40	0	None	0
Yinhua Fund– Agricultural Bank of China – Yinhua CSI Financial Asset Management Plan	Others	43,083,700	0.40	0	None	0
China Southern Fund– Agricultural Bank of China – China Southern CSI Financial Asset Management Plan	Others	43,083,700	0.40	0	None	0
ICBC Credit Suisse Fund – Agricultural Bank of China – ICBC Credit Suisse CSI Financial Assets Management Scheme	Others	43,083,700	0.40	0	None	0

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Shareholdings of the TopTen Shareholders with Unlimited Conditions of Sale
Name of shareholder	Number of Liquidity Shares<br>Holding Unlimited<br>Conditions of Sale	Type and quantity of shares
		Type	Quantity
China Petroleum & Chemical Corporation	5,460,000,000	RMB common stocks	5,460,000,000
HKSCC (Nominees) Limited	3,454,023,030	Overseas listed<br> <br>foreign share	3,454,023,030
HKSCC Limited	108,134,904	RMB common stocks	108,134,904
Wang Lei	65,000,000	RMB common stocks	65,000,000
China Merchants Bank Company Limited –<br> <br>SSE<br>Dividend ETF	54,527,408	RMB common stocks	54,527,408
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 Plan	43,531,469	RMB common stocks	43,531,469
China Asset Fund – Agricultural Bank of China – China Asset CSI Financial Asset Management Plan	43,083,750	RMB common stocks	43,083,750
Bosera Fund –Agricultural Bank of China – Bosera CSI Financial Asset Management Plan	43,083,700	RMB common stocks	43,083,700
E Fund Fund– Agricultural Bank of China – E Fund CSI Financial Asset Management Plan	43,083,700	RMB common stocks	43,083,700
Harvest Fund– Agricultural Bank of China – Harvest CSI Financial Asset Management Plan	43,083,700	RMB common stocks	43,083,700
China EU Fund– Agricultural Bank of China – China EU CSI Financial Asset Management Plan	43,083,700	RMB common stocks	43,083,700

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Yinhua Fund– Agricultural Bank of China – Yinhua CSI Financial Asset Management Plan	43,083,700	RMB common<br>stocks	43,083,700
China Southern Fund– Agricultural Bank of China – China Southern CSI Financial Asset Management Plan	43,083,700	RMB common<br>stocks	43,083,700
ICBC Credit Suisse Fund – Agricultural Bank of China – ICBC Credit Suisse CSI Financial Assets Management Scheme	43,083,700	RMB common<br>stocks	43,083,700
Explanation of the connected relationship or acting in concert relationship of the above shareholders	Among the above-mentioned shareholders, China Petroleum & Chemical Corporation, a state-owned legal person, does not have any connected relationship with the other shareholders, and does not constitute an act-in-concert party under the Administration Measures on Acquisition of Listed Companies. Among the above-mentioned shareholders, HKSCC (Nominees) Limited is a nominee and<br>HKSCC Limited is the nominal holder of the Company’s Shanghai-Hong Kong Stock Connect. Apart from the above, the Company is not aware of any other connected relationships among the other shareholders, or whether any other shareholder<br>constitutes an act-in-concert party under the Administrative Measures on Acquisition of Listed Companies.

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4.	Appendix
4.1	CONSOLIDATED BALANCE SHEETS
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AS AT 30 SEPTEMBER 2021

Unit: RMB’000

Items	As at 30<br><br><br>September 2021		As at 31<br><br><br>December 2020
	(Unaudited)		(Audited)
Current assets
Cash at bank and on hand		6,040,627		7,920,852
Transactional financial assets		3,477,278		—
Derivative financial assets		159,160		—
Accounts payable		1,587,960		1,145,504
Accounts receivable financing		1,332,043		1,217,114
Advances to suppliers		39,576		33,741
Other receivables		1,501,968		41,299
Inventories		6,254,512		3,888,746
Non current assets due within one year		3,007,576		—
Other assets classified as held for sale		31,659		3,057,587
Total current assets		23,432,359		17,304,843
Non-current assets
Long-term equity investments		3,994,521		5,497,834
Investment in other equity instruments		5,000		5,000
Investment properties		356,019		367,586
Fixed assets		11,761,270		11,733,065
Construction in progress		2,144,382		1,710,124
Right-of-use<br>assets		9,271		12,993
Intangible assets		397,600		412,576
Long-term prepaid expenses		780,531		410,191
Deferred tax assets		90,245		252,121
Other non-current assets		4,254,517		7,042,840
Total non-current assets		23,793,356		27,444,330
Total assets		47,225,715		44,749,173

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CONSOLIDATED BALANCE SHEETS (CONTINUED)

AS AT 30 SEPTEMBER 2021

Unit:RMB’000

Items	As at 30<br><br><br>September 2021		As at 31<br><br><br>December 2020
	(Unaudited)		(Audited)
Current liabilities
Short-term borrowings		3,540,000		1,548,000
Derivative financial liabilities		57,292		—
Notes payable		598,486		139,360
Accounts payable		5,812,706		4,671,635
Contract Liabilities		794,321		496,521
Employee benefits payable		746,016		244,506
Taxes payable		1,438,717		3,385,910
Other payables		894,219		1,664,812
Non-current liabilities due within one year		29,066		9,352
Other current liabilities		2,104,630		3,072,150
Total current liabilities		16,015,453		15,232,246
Non-current liabilities
Long-term borrowings		700,000		—
Lease liabilities		2,342		3,119
Deferred revenue		115,220		123,433
Deferred tax liabilities		35,162		35,357
Total non-current liabilities		852,724		161,909
Total liabilities		16,868,177		15,394,155
Owners’ equity (or shareholders’ equity)
Paid-in capital (or share capital)		10,823,814		10,823,814
Capital surplus		610,327		610,327
Other comprehensive income		83,776		6,326
Specific reserve		186,549		145,597
Surplus reserve		6,474,103		6,474,103
Undistributed profits		12,040,535		11,157,866
Total equity attributable to equity owners (or shareholders) of the Company		30,219,104		29,218,033
Non-Controlling interests		138,434		136,985
Total Owners’ equity (or shareholders’ equity)		30,357,538		29,355,018
Total liabilities and Owners’ equity (or shareholders’ equity)		47,225,715		44,749,173

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4.2	CONSOLIDATED INCOME STATEMENTS

FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2021

Unit: RMB’000 Audit type:unaudited

Items	First three quarters<br>of 2021<br>(January to September)		First three quarters<br>of 2020<br>(January to September)
Total revenue		61,863,093		54,953,968
Including: Revenue		61,863,093		54,953,968
Total operating cost		60,150,245		56,406,200
Including: Cost of sales		48,013,441		44,538,544
Taxes and surcharges		9,194,779		9,480,751
Selling and distribution expenses		322,451		348,864
General and administrative expenses		2,828,633		2,211,438
R&D expenses		75,153		58,596
Financial expenses		-284,212		-231,993
Add: Other income		25,331		20,828
Investment income (“-” to indicate loss)		777,741		500,744
Change in fair value gains (“-” to indicate loss)		27,278		3,629
Asset impairment losses (“-” to indicate loss)		-108,485		-120,928
Asset disposal income (“-” to indicate loss)		79,085		102,543

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CONSOLIDATED INCOME STATEMENTS (CONTINUED)

FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2021

Unit: RMB’000 Audit type:unaudited

Items	First three quarters<br>of 2021<br>(January to September)		First three quarters<br>of 2020<br>(January to September)
Operating profit (“-” to indicate loss)		2,513,798		-945,416
Add: Non-operating income		11,365		13,075
Less: Non-operating expenses		72,881		52,626
Total profit (“-” to indicate loss)		2,452,282		-984,967
Less: Income tax expenses		480,882		-352,418
Net Profit (“-” to indicate loss)		1,971,400		-632,549
Classification by business continuity
Classification by ownership
1. Attributable to equity shareholders of the Company (“-” to indicate loss)		1,965,050		-642,219
2. Non-Controlling interests (“-” to indicate<br>loss)		6,350		9,670
Other comprehensive income, net of tax		77,450		-8,008
Net income after tax of other comprehensive income attributable to the equity shareholders of the<br>Company		77,450		-8,008
1. Other comprehensive income that can be transferred to profit or loss under equity<br>method		702		-8,008
2. Cash flow hedging reserve		76,748		—
Total comprehensive income		2,048,850		-640,557
Attributable to equity shareholders of the Company		2,042,500		-650,227
Non-Controlling interests		6,350		9,670
Earnings per share
Basic earnings per share (RMB)		0.182		-0.059
Diluted earnings per share (RMB)		0.182		-0.059

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4.3	CONSOLIDATED CASH FLOW STATEMENTS

FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2021

Unit: RMB’000 Audit type:unaudited

Items	First three quarters of2021<br>(January to September)			First three quarters of2020<br>(January to September)
1. Cash flows from operating activities
Cash received from sales of goods or rendering of services		65,528,288			59,664,017
Refund of taxes and surcharges		98,018			3,040
Cash received relating to other operating activities		165,997			286,600
Sub-total of cash inflows		65,792,303			59,953,657
Cash paid for goods and services		51,964,737			47,197,250
Cash paid to and on behalf of employees		2,107,455			1,858,747
Payments of taxes and surcharges		11,784,185			12,769,797
Short-term and low value lease expenses		7,657			—
Cash paid relating to other operating activities		271,880			242,652
Sub-total of cash outflows		66,135,914			62,068,446
Net cash flows generated from operating activities		(343,611	)		(2,114,789	)
2. Cash flows from investing activities
Cash received from investment recovery		4,700,000			9,601,942
Cash received from returns on investments		746,659			88,154
Net cash received from disposal of fixed assets, intangible assets and other long-term<br>assets		69,099			95,660
Cash received relating to other investing activities		3,374,332			705,982
Sub-total of cash inflows		8,890,090			10,491,738
Cash paid to acquire fixed assets, intangible assets and other long-term assets		2,617,962			1,021,374
Cash paid for investment		8,150,000			7,600,000
Net cash received from subsidiaries and other business units		—			340,315
Cash paid to other related investment activities		1,999,537			6,515,962
Sub-total of cash outflows		12,767,499			15,477,651
Net cash flows generated from operating activities.		(3,877,409	)		(4,985,913	)

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CONSOLIDATED CASH FLOW STATEMENTS (CONTINUED)

FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2021

Unit: RMB’000 Audit type:unaudited

Items	First three quarters of2021<br>(January to September)			First three quarters of2020<br>(January to September)
3. Cash flows from financing activities
Cash received from borrowings		18,663,131			6,446,569
Sub-total of cash inflows		18,663,131			6,446,569
Cash repayments of borrowings		16,951,131			1,958,562
Cash paid for distribution of dividends or profits and interest expenses		1,166,963			1,354,427
Cash and interest repaid for lease liabilities		10,721			—
Cash paid for other financing activities		—			10,549
Sub-total of cash outflows		18,128,815			3,323,538
Net cash flows generated from financing activities		534,316			3,123,031
4. Effect of foreign exchange rate changes on cash and cash equivalents		(2,063	)		(2,711	)
5. Net increase in cash and cash equivalents		(3,688,767	)		(3,980,382	)
Add: Cash and cash equivalents at beginning of the Reporting Period		6,916,408			7,449,699
6. Cash and cash equivalents at end of the Reporting Period		3,227,641			3,469,317

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By Order of the Board<br><br><br>Sinopec Shanghai Petrochemical Company Limited<br><br><br>Liu Gang<br> <br>Joint CompanySecretary

Shanghai, the PRC, 27 October 2021

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