Home / Knowledge / News / Textiles / Sinopec Shanghai Petrochemical nine-month sales rise 24.8%
Sinopec Shanghai Petrochemical nine-month sales rise 24.8%
29
Oct '13
Sinopec Shanghai Petrochemical Company Limited announced the unaudited operating results of the Company and its subsidiaries (the "Group") for the nine-month period ended September 30, 2013 (the "Period").

Under the China Accounting Standards for Business Enterprises, the Group's revenue for the Period amounted to RMB86.356 billion (corresponding period of 2012: RMB69.153 billion). It recorded an operating profit of RMB1.395 billion (corresponding period of 2012: an operating loss of RMB2.237 billion).

Net profit attributable to equity shareholders of the Company was RMB1.004 billion (corresponding period of 2012: net loss attributable to equity shareholders of the Company of RMB1.609 billion). Basic earnings per share was RMB0.139 (corresponding period of 2012: basic loss per share of RMB0.224).

Mr. Wang Zhiqing, Shanghai Petrochemical's Chairman, said, "Since the Refinery Revamping and Expansion Project was fully completed and put into operation at the end of 2012, the Group's existing crude oil processing capacity and adaptability were enhanced in the first three quarters of 2013, and the room for optimising it intermediate raw materials and product mix had further expanded, which led to improved ability of the Company to achieve profitability on its refinery operations.

“Although the market petrochemical prices did not show a clear uptrend, overall prices remained stable. We believe that the Group will return to profitability for the financial year of 2013.

"The Group will continue to focus on improving the quality and efficiency of its development and will give fully play to the advantage of the Refinery Revamping and Expansion Project by focusing on production safety, environmental protection and stable operation through employing systematic optimisation and upgrade as a means to achieve the Group's annual target."

Shanghai Petrochemical is one of the largest petrochemical companies in China in terms of sales revenue and was one of the first Chinese companies to complete a global securities offering. Located at Jinshanwei in the southwest of Shanghai, it is a highly integrated petrochemical enterprise which processes crude oil into a broad range of products such as synthetic fibres, resins and plastics, intermediate petrochemicals and petroleum products.

Sinopec Shanghai Petrochemical


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search