Sinopec Shanghai Petrochemical Company Limited has issued a positive profit alert.

The company projects a net profit attributable to its parent company shareholders of approximately 2.34 billion to 3.51 billion yuan for the first half of 2026.

This forecast represents a significant turnaround from a loss in the same period last year.

Furthermore, the company expects its core net profit, excluding non-recurring gains or losses, to be between 2.45 billion and 3.67 billion yuan for the same period, also marking a shift to profitability year-on-year.

During the first half of 2026, the overall price of petrochemical products trended upward, influenced by factors such as geopolitical tensions driving international crude oil prices higher and adjustments in industry supply and demand dynamics.

The company has consistently optimized its production operations, resulting in the price increases for its primary products outpacing the rise in crude oil processing costs.

This led to an improvement in product gross margins and an overall increase in profitability compared to the previous year.