SHANGHAI PECHEM (00338) has released its interim results for the first half of 2026, recording operating revenue of RMB 38.992 billion, a year-on-year decline of 1.34%. The company achieved a net profit attributable to parent shareholders of RMB 300 million, a sharp turnaround from the RMB 462 million loss reported in the same period last year. Basic earnings per share stood at RMB 0.028.

During the first six months of 2026, international oil prices experienced wide and volatile swings amid the US-Israel-Iran conflict, subjecting the petrochemical industry to unexpected shocks and challenges across costs, demand, and capacity adjustments. In response to these conditions, the group pushed forward with initiatives in safety and environmental protection, cost reduction and efficiency enhancement, as well as project construction, ultimately returning to profitability in the first half of the year.

For the reporting period, the group produced a total of 4.9398 million tonnes of main commodities, down 11.42% from a year earlier. Cumulative crude oil processing volume reached 5.682 million tonnes (including 458,100 tonnes of toll processing), a decrease of 10.16% year on year. Refined oil output totaled 3.482 million tonnes, down 12.80% annually, comprising 1.4396 million tonnes of gasoline (down 13.70%), 1.1154 million tonnes of diesel (down 6.95%), and 926,900 tonnes of aviation kerosene (down 17.68%).

Ethylene production rose 19.79% year on year to 327,300 tonnes, while para-xylene output declined 4.14% to 338,300 tonnes. Production of plastic resins and copolymers decreased 0.91% to 453,500 tonnes, and synthetic fiber output fell 2.61% to 14,100 tonnes. The group's product sales-to-production ratio reached 100.87% in the first half, with a payment collection rate (excluding related and internal enterprises) of 100.03%.