SHANGHAI PECHEM's stock soared 5.56% during intraday trading on Thursday, following the release of its first-quarter 2026 financial results.

The surge appears driven by the company reporting a significant profit turnaround, with net income attributable to shareholders reaching approximately 415 million yuan compared to a loss in the same period last year. The company also reported an improvement in the gross profit margin for its refined oil products, contributing to better operating performance.

Supporting operational data indicated a favorable cost environment, with the average crude-oil processing cost declining year-on-year, while product pricing for key items like para-xylene and refined fuels showed sequential improvement, supporting refining and chemical margins.