Form 6-K SINOPEC SHANGHAI PETROCH For: Jul 14
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 July 2022
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 ☐
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 Number |
||
99.1 | Major Operating Data of the First Half of 2022 | |
99.2 | Profit Warning Announcement on Estimated Loss in Interim Results of 2022 |
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 InformationC. 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.
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: July 14, 2022 | By: | /s/ Wu Haijun | ||||
Name: | Wu Haijun | |||||
Title: | Chairman of the Board of Directors |
Exhibit 99.1
Major Operating Data of the First Half of 2022
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 six months ended 30 June 2022 as follows:
I. | Major operating data of the first half of 2022 |
Product |
Production volume (10,000 tons) |
Sales volume (10,000 tons) |
Sales revenue (RMB1,000) |
|||||||||
Petroleum products |
| |||||||||||
Diesel |
131.12 | 132.35 | 9,445,275 | |||||||||
Gasoline |
144.83 | 143.23 | 12,661,715 | |||||||||
Jet Fuel note 1 |
39.38 | 30.08 | 1,816,004 | |||||||||
Intermediate petrochemicals |
| |||||||||||
PX note 2 |
31.84 | 31.26 | 2,372,144 | |||||||||
Benzene note 1 |
16.97 | 16.36 | 1,187,946 | |||||||||
Ethylene Glycol note 2 |
6.09 | 3.71 | 167,293 | |||||||||
Ethylene Oxide |
15.90 | 15.61 | 1,044,428 | |||||||||
Ethylene note 2 |
35.35 | | | |||||||||
Resins and plastics |
| |||||||||||
PE |
22.37 | 21.39 | 1,998,837 | |||||||||
PP |
22.23 | 20.72 | 1,728,133 | |||||||||
Polyester chips note 1 note 2 |
6.86 | 6.91 | 461,552 | |||||||||
Synthetic fibres |
| |||||||||||
Acrylics |
1.01 | 1.06 | 180,705 |
Note 1: Sales volume excluded materials processed on a sub-contract basis.
1
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 first half of 2022 |
Unit: RMB/ton
Product | The average price in the first half of 2022 |
The average price in the first half of 2021 |
Year on year Change |
Compare of 2021 | ||||
Diesel |
7,137 | 4,907 | 45.44% | 18.90% | ||||
Gasoline |
8,840 | 6,876 | 28.57% | 15.30% | ||||
Jet Fuel |
6,038 | 3,325 | 81.60% | 48.76% | ||||
Ethylene |
| | | | ||||
PX |
7,588 | 5,030 | 50.85% | 29.42% | ||||
Benzene |
7,263 | 5,000 | 45.27% | 7.72% | ||||
Ethylene Glycol |
4,505 | 4,639 | - 2.90% |
-3.63% | ||||
Ethylene Oxide |
6,692 | 6,650 | 0.63% | -2.36% | ||||
PE |
9,346 | 8,586 | 8.85% | 5.89% | ||||
PP |
8,341 | 8,944 | -6.74% | -0.96% | ||||
Polyester chips |
6,681 | 5,286 | 26.38% | 13.41% | ||||
Acrylics |
17,033 | 15,319 | 11.19% | 3.23% | ||||
Raw material |
The average 2022 |
The average of 2021 |
Year on year Change |
Compare of 2021 | ||||
Crude oil |
4,540 | 2,849 | 59.36% | 28.05% |
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 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, 14 July 2022
2
Exhibit 99.2
PROFIT WARNING
ANNOUNCEMENT ON ESTIMATED LOSS IN INTERIM
RESULTS OF 2022
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 jointly and severally accept responsibilities for the truthfulness, accuracy and completeness of its contents.
Important Notice:
| Under the China Accounting Standards for Business Enterprises, the Group estimates to record a net profit attributable to equity shareholders of the Company of approximately RMB 498 million to RMB 358 million in the first half of 2022. |
| Under the China Accounting Standards for Business Enterprises, the Group estimates to record a net profit attributable to equity shareholders of the Company after deducting non-recurring items of approximately RMB 464 million to RMB 324 million in the first half of 2022. |
1. | Estimated results of the Period |
(1) | Period of estimated results: 1 January 2022 to 30 June 2022. |
1
(2) | Estimated results: based on preliminary estimates by the finance department of the Company, the Company and its subsidiaries (the Group) are estimated to record a net profit attributable to equity shareholders of the Company of approximately RMB 498 million to RMB 358 million in the first half of 2022, representing a loss over the corresponding period in 2021. The Group estimates that the net profit attributable to the equity shareholders of the Group after deducting non-recurring items for the first half of 2022 will be approximately RMB 464 million to RMB 324 million, representing a loss over the corresponding period in 2021. Specific financial figures will be disclosed in the 2022 interim report of the Company. |
(3) | The estimated results have not been reviewed or audited by certified public accountants. |
2. | Results for the corresponding period of the previous year |
Under the China Accounting Standards for Business Enterprises |
||||
Net profit attributable to equity shareholders of the Company (RMB000) |
1,244,189 | |||
Net profit attributable to the equity shareholders of the Company after deducting non-recurring items (RMB000) |
1,168,305 | |||
Earnings per share (RMB per share) |
0.115 |
3. | Major reasons for estimated loss in the results for the Period |
In the first half of 2022, the crude oil prices rose sharply and the consumption of the chemical products continued to slump. The increase of the price of the products did not match the price increase of the raw materials and thus the Companys gross profit decreased.
4. | Risk Warning |
As of the date of this announcement, the 6.18 No.1 ethylene glycol plant explosion accident (please refer to the announcement of the Company dated 19 June 2022 for details) is still under investigation and the main production equipment of the Company are still shutdown. Besides the aforementioned, the Company does not have any significant uncertainties that will affect the accuracy of the contents of the estimated results.
5. | Other information |
The estimated figures above are based on preliminary assessment only. Specific and accurate financial figures will be disclosed in the 2022 interim 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, 14 July 2022
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