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 April 2020

Commission File Number: 1-12158

 

 

Sinopec Shanghai Petrochemical Company Limited

(Translation of registrant’s name into English)

 

 

No. 48 Jinyi Road, Jinshan District, Shanghai, 200540

The People’s 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 2020 First Quarter.
99.2   2020 First Quarterly Report.

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: April 29, 2020     By:  

/s/ Wu Haijun

    Name:   Wu Haijun
    Title:   Chairman of the Board of Directors

Exhibit 99.1

 

LOGO

(A joint stock limited company incorporated in the People’s Republic of China)

(Stock Code: 00338)

Major Operating Data of the 2020 First Quarter

According to Rule 18 of the Guidelines of the Shanghai Stock Exchange for Industry Information Disclosure No.18 – Chemical Industry, Sinopec Shanghai Petrochemical Company Limited (the “Company”) announced the major operating data for the three months ended 31 March 2020:

 

I.

Major operating data of 2020 first quarter

 

Product

   Production volume
(10,000 tons) 		     Sales volume
(10,000 tons) 		     Sales revenue
(1,000 RMB) 		 

Petroleum products

        

Diesel

     82.25        81.54        3,406,732  

Gasoline

     70.28        73.21        5,039,654  

Jet Fuel note 1

     40.11        32.43        1,256,714  

Intermediate petrochemicals

        

PX note 2

     15.72        9.31        477,655  

Benzene note 1

     9.01        7.78        361,764  

Ethylene Glycol note 2

     8.88        5.76        230,305  

Ethylene Oxide

     5.59        5.43        339,723  

Ethylene note 2

     20.26        0.00        0  

Resins and plastics

        

PE

     12.69        11.42        780,421  

PP

     11.52        10.04        759,547  

Polyester chips note 1 note 2

     8.73        6.19        319,284  

Synthetic fibres

        

Acrylics

     2.83        2.54        294,098  

Polyester note 1

     0.63        0.61        38,854  

Note 1: Sales exclude materials processed on a sub-contract basis.

Note 2: Part of the difference between the production volume and sales volume is internal use.

The above data for sales volume and sales revenue does not include the data for the Company’s trading of petrochemical products.

II.

Change in prices of major products and raw materials in the 2020 first quarter

Unit: RMB yuan /ton

 

Product

   The average price in
the 2020 first quarter 		     The average price in
the 2019 first quarter 		     Change  

Diesel

     4,178        4,893        -14.62 % 

Gasoline

     6,884        6,915        -0.44 % 

Jet Fuel

     3,875        3,962        -2.20 % 

Ethylene

     —          7,054        —    

PX

     5,131        7,334        -30.04 % 

Benzene

     4,648        4,013        15.82 % 

Ethylene Glycol

     4,001        4,477        -10.63 % 

Ethylene Oxide

     6,262        6,762        -7.40 % 

PE

     6,832        8,417        -18.83 % 

PP

     7,567        8,510        -11.08 % 

Polyester chips

     5,156        6,933        -25.62 % 

Acrylics

     11,599        13,750        -15.64 % 

Polyester

     6,419        8,513        -24.59 % 

Raw material

   The average processing
cost in the 2020 first
quarter 		     The average processing
cost in the 2019 first
quarter 		     Change  

Crude oil

     3,427.69        3,155.35        8.63 % 

 

III.

Other Matters

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 Company’s future operating conditions. Investors are advised to exercise caution when using such information.

 

   By Order of the Board
     Sinopec Shanghai Petrochemical Company Limited
     Wu Haijun
   Chairman

Shanghai, the PRC, 28 April 2020

  

Exhibit 99.2

 

LOGO

(A joint stock limited company incorporated in the People’s Republic of China)

(Stock Code: 00338)

2020 First Quarterly Report

 

 

This announcement is published simultaneously in Shanghai and Hong Kong. This announcement is published pursuant to the Rules Governing Listing of Stocks on Shanghai Stock Exchange in the People’s Republic of China and pursuant to the disclosure obligations under Rules 13.09 and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

 

1. Important Message

 

1.1

The Board of Directors (the “Board”) and the Supervisory Committee of Sinopec Shanghai Petrochemical Company Limited (the “Company” or “SPC”) as well as its directors, supervisors and senior management warrant the truthfulness, accuracy and completeness of the information contained in the 2020 first quarterly report, and warrant that there are no false representations or misleading statements contained in or material omissions from this report and severally and jointly accept responsibility pursuant to such information.

 

1.2

All directors attended the twenty-second meeting of the ninth session of the Board, and have considered and adopted the 2020 first quarterly report at the meeting.

 

1.3

Mr. Wu Haijun, person in charge of the Company, Mr. Zhou Meiyun, (person in charge of accounting affairs and overseeing the accounting operations, and Ms. Yang Yating, person-in-charge of Accounting Department (Accounting Chief) warrant the truthfulness, accuracy and completeness of the financial report contained in this first quarterly report.

 

1.4

The financial report of the Company’s 2020 first quarterly report was prepared under the China Accounting Standards for Business Enterprises and was unaudited.

 

1

2. Basic Information

 

2.1

Major Accounting Data

Unit: RMB’000

 

     As at the end of the
Reporting Period 		     As at the end of the
previous year 		     Increase/decrease at
the end of the
Reporting Period as
compared to the end
of the previous year (%) 		 

Total assets

     41,465,657        45,636,128        -9.14  

Total equity attributable to equity shareholders of the Company

     28,613,180        29,885,341        -4.26  
     From the beginning
of the year to the end
of the Reporting
Period (January to
March) 		     From the beginning
of the year to the end
of the Reporting
Period last year
(January to
March) 		     Increase/decrease
as compared to the
corresponding period
of the previous year (%)
(January to March) 		 

Net cash flows used in operating activities

     -3,880,619        -1,089,708        -256.12  
     From the beginning
of the year to the end
of the Reporting
Period (January to
March) 		     From the beginning
of the year to the end
of the Reporting
Period last year
(January to
March) 		     Increase/decrease
as compared to the
corresponding period
of the previous year (%)
(January to March) 		 

Revenue

     17,926,384        25,136,233        -28.68  

Net profit attributable to equity shareholders of the Company

     -1,202,367        610,653        -296.90  

Net profit attributable to equity shareholders of the Company excluding non-recurring items

     -1,218,292        624,529        -295.07  

Return on net assets (weighted average) (%)

     -4.292        1.992       
Decreased by
315.46 percentage points 		 
 

Basic earnings per share (RMB/share)

     -0.111        0.056        -298.21  

Diluted earnings per share (RMB/share)

     -0.111        0.056        -298.21  

 

2

Excluded non-recurring items and amount:

Unit: RMB’000

 

Item

   Amount for the
Reporting Period
(January to March) 		 

Government grants recognized through profit and loss except for government grants under the State’s unified standards on quota and amount entitlements and closely related to corporate business

     20,203  

In addition to the effective hedging business related to the company’s normal business operations, the fair value gains and losses arising from the holding of transactional financial assets, derivative financial assets, transactional financial liabilities and derivative financial liabilities, as well as the investment gains from the disposal of transactional financial assets, derivative financial assets, transactional financial liabilities, derivative financial liabilities and other creditor’s rights investments.

     14,049  

Other profit and loss items that meet the definition of non-recurring items

     -13,019  

Effect on minority interests (after tax)

     —    

Tax effect for the items above

     -5,308  

Total

     15,925  

 

3

2.2

Total Number of Shareholders as at the End of the Reporting Period, Top Ten Shareholders and Shareholdings of the Top Ten Shareholders of Shares in Circulation (or Unrestricted Shares)

Unit: Share

 

Total number of shareholders

 

     96,508  

Shareholdings of the top ten shareholders

 

Name of shareholder

(in full)

   Number of
shares held at
the end of the
Reporting Period 		     Percentage of total
shareholding (%) 		     Number of
shares with
selling
restrictions 		     Number of shares
pledged or frozen 		     Type of
shareholder 		 
   Situation of
the shares 		     Number  

China Petroleum & Chemical Corporation

     5,460,000,000        50.44        0        None        0       
State-owned
legal person 		 
 

HKSCC (Nominees) Limited

     3,454,683,747        31.92        0        Unknown        0       
Overseas legal
person 		 
 

China Securities Finance Corporation Limited

     324,111,018        2.99        0        None        0        Others  

Central Huijin Investment Ltd.

     67,655,800        0.63        0        None        0        Others  

HKSCC Limited

     59,952,427        0.55        0        None        0        Others  

China Universal Asset Management Company Limited- Social Security Fund 1103 portfolio

     50,000,620        0.46              

GF Fund – Agricultural Bank of China – GF CSI Financial Asset Management Plan

     45,222,300        0.42        0        None        0        Others  

Dacheng Fund – Agricultural Bank of China – Dacheng CSI Financial Asset Management Plan

     43,531,469        0.40        0        None        0        Others  

China Asset Fund – Agricultural Bank of China – China Asset CSI Financial Asset Management Plan

     43,083,750        0.40        0        None        0        Others  

Bosera Fund – Agricultural Bank of China – Bosera CSI Financial Asset Management Plan

     43,083,700        0.40        0        None        0        Others  

 

4

Shareholdings of the Top Ten Shareholders with Unlimited Conditions of Sale

 

Name of shareholder

  Number of Liquidity Shares
Holding Unlimited
Conditions of Sale 		     Type and quantity of shares  
   Type      Quantity  

China Petroleum & Chemical Corporation

    5,460,000,000        RMB common stocks        5,460,000,000  

HKSCC (Nominees) Limited

    3,454,683,747       
Overseas listed
foreign share 		 
  		     3,454,683,747  

China Securities Finance Corporation Limited

    324,111,018        RMB common stocks        324,111,018  

Central Huijin Investment Ltd.

    67,655,800        RMB common stocks        67,655,800  

HKSCC Limited

    59,952,427        RMB common stocks        59,952,427  

China Universal Asset Management Company Limited- Social Security Fund 1103 portfolio

    50,000,620        RMB common stocks        50,000,620  

GF Fund – Agricultural Bank of China – GF CSI Financial Asset Management Plan

    45,222,300        RMB common stocks        45,222,300  

Dacheng Fund – Agricultural Bank of China – Dacheng CSI Financial Asset Management Plan

    43,531,469        RMB common stocks        43,531,469  

China Asset Fund – Agricultural Bank of China – China Asset CSI Financial Asset Management Plan

    43,083,750        RMB common stocks        43,083,750  

Bosera Fund – Agricultural Bank of China – Bosera CSI Financial Asset Management Plan

    43,083,700        RMB common stocks        43,083,700  
Explanation of the connected relationship or acting in concert relationship of the above shareholders    Among the above-mentioned shareholders, China Petroleum & Chemical Corporation, a state-owned legal person, does not have any connected relationship with the other shareholders, and does not constitute an act-in-concert party under the Administration Measures on Acquisition of Listed Companies. Among the above-mentioned shareholders, HKSCC (Nominees) Limited is a nominee and HKSCC Limited is the nominal holder of the Company’s Shanghai-Hong Kong Stock Connect. Apart from the above, the Company is not aware of any other connected relationships among the other shareholders, or whether any other shareholder constitutes an act-in-concert party under the Administrative Measures on Acquisition of Listed Companies.

 

5

3. Major Events

3.1 Description of Substantial Changes in Major Financial Report Items and Financial Indicators of the Company

Unit: RMB’000

 

Item

   As at 31
March 2020 		     As at 31
December
2019 		     Increase/
decrease
amount 		     Change
(%) 		   

Major reason for change

Monetary Funds

     5,651,324        8,958,538        -3,307,214        -36.92 %    The decrease of sales gross profit in the first quarter, the decrease of operating balance payables such as accounts payable and taxes payable, and the net cash outflow from operating activities led to the falling of the balance of monetary

Inventory

     4,969,938        6,754,434        -1,784,496        -26.42 %    Affected by novel coronavirus pneumonia (COVID-19 for short) and significantly drop of crude oil price, the inventory and unit cost of main raw materials such as crude oil of the Company decreased at the end of the period

Short-term borrowings

     3,037,187        1,547,600        1,489,587        96.25 %    The company’s new borrowings with lower financing costs were used to supplement daily operating funds

Accounts payable

     4,383,186        7,664,296        -3,281,110        -42.81 %    Affected by COVID-19 and international crude oil market, the procurement and price of raw materials decreased, resulting in a substantial decline in the payable balance
Unit: RMB’000

Item

   For the three-month period
ended 31 March 		     Increase/
decrease
amount 		     Change
(%) 		   

Major reason for change

   2020      2019  

Operating income

     17,926,384        25,136,233        -7,209,849        -28.68 %    Affected by COVID-19, the consumption needs of downstream market decreased, product price and sales declined

Investment income

     77,983        195,291        -117,308        -60.07 %    Affected by COVID-19 and chemical market price fluctuations, the operating conditions of associates during the Reporting Period were weaker than the same period of last year, and investment income decreased

Operating (loss)/profit

     -1,629,144        747,350        -2,376,494        -317.99 %    During the period, sales price of products decreased, the existing expensive inventory was consumed, resulting in a significant decrease in gross profit

 

6

4. Appendix

 

4.1

CONSOLIDATED BALANCE SHEETS

AS AT 31 MARCH 2020

Unit: RMB’000

 

Items

   As at the end of the
Reporting Period 		     As at the beginning
of the year 		 
     (unaudited)      (audited)  

Current assets

     

Cash at bank and on hand

     5,651,324        8,958,538  

Trading financial assets

     3,919,266        3,318,407  

Derivative financial assets

     2,248        263  

Account receivable

     1,942,207        1,639,916  

Financing receivable

     1,059,483        1,540,921  

Interests receivable

     80,012        56,602  

Other receivables

     39,419        28,111  

Interest receivable

     10,365        10,927  

Inventories

     4,969,938        6,754,434  

Other current assets

     152,706        11,971  
  

 

 

    

 

 

 

Total current assets

     17,816,603        22,309,163  
  

 

 

    

 

 

 

Non-current assets

     

Long-term equity investments

     5,395,706        5,328,758  

Other equity instrument investment

     5,000        5,000  

Investment properties

     379,085        367,468  

Fixed assets

     10,987,805        11,322,850  

Construction in progress

     1,993,598        1,815,549  

Right-of-use assets

     22,040        23,648  

Intangible assets

     333,194        337,846  

Long-term prepaid expenses

     420,963        463,780  

Deferred tax assets

     600,429        150,832  

Other non-current assets

     3,511,234        3,511,234  
  

 

 

    

 

 

 

Total non-current assets

     23,649,054        23,326,965  
  

 

 

    

 

 

 

Total assets

     41,465,657        45,636,128  
  

 

 

    

 

 

 

 

7

CONSOLIDATED BALANCE SHEETS (CONTINUED)

AS AT 31 MARCH 2020

 

Unit: RMB’000

 

Items

   As at the end of the
Reporting Period 		     As at the beginning
of the year 		 
     (unaudited)      (audited)  

Current liabilities

     

Short-term borrowings

     3,037,187        1,547,600  

Derivative financial liabilities

     872        799  

Notes payable

     937,150        733,900  

Accounts payable

     4,383,186        7,664,296  

Contract Liabilities

     413,120        660,783  

Employee benefits payable

     373,913        189,547  

Taxes payable

     2,538,830        3,803,287  

Other payables

     888,183        867,967  

Including: Interest payable

     2,443        1,686  

Dividends payable

     29,144        29,144  

Non-current liabilities due within one year

     10,928        11,450  
  

 

 

    

 

 

 

Total current liabilities

     12,583,369        15,479,629  
  

 

 

    

 

 

 

Non-current liabilities

     

Lease liabilities

     9,501        10,593  

Deferred revenue

     127,701        130,005  

Deferred tax liabilities

     365        —    

Total non-current liabilities

     137,567        140,598  
  

 

 

    

 

 

 

Total liabilities

     12,720,936        15,620,227  
  

 

 

    

 

 

 

Shareholders’ equity

     

Share capital

     10,823,814        10,823,814  

Capital surplus

     610,327        610,327  

Other comprehensive income

     -77,419        17,838  

Specific reserve

     82,600        57,137  

Surplus reserve

     6,437,010        6,437,010  

Undistributed profits

     10,736,848        11,939,215  
  

 

 

    

 

 

 

Total equity attributable to equity shareholders of the Company

     28,613,180        29,885,341  
  

 

 

    

 

 

 

Minority interests

     131,541        130,560  
  

 

 

    

 

 

 

Total shareholders’ equity

     28,744,721        30,015,901  
  

 

 

    

 

 

 

Total liabilities and shareholders’ equity

     41,465,657        45,636,128  
  

 

 

    

 

 

 

 

8

COMPANY BALANCE SHEETS

AS AT 31 MARCH 2020

Unit: RMB’000

 

Items

   As at the end of the
Reporting Period 		     As at the beginning
of the year 		 
     (unaudited)      (audited)  

Current assets

     

Cash at bank and on hand

     4,734,256        7,263,279  

Trading financial assets

     3,518,464        3,318,407  

Accounts receivables

     1,450,695        1,310,449  

Financial assets at fair value through other comprehensive income

     518,769        669,889  

Advances to suppliers

     74,400        47,547  

Other receivables

     17,031        14,637  

Including: Interests receivables

     10,153        10,617  

Inventories

     4,764,370        6,368,389  

Other current assets

     134,701        —    
  

 

 

    

 

 

 

Total current assets

     15,212,686        18,992,597  
  

 

 

    

 

 

 

Non-current assets

     

Long-term equity investments

     6,548,843        6,489,898  

Investment properties

     408,936        397,573  

Fixed assets

     10,792,609        11,123,442  

Construction in progress

     1,992,016        1,814,985  

Right-of-use assets

     19,627        20,520  

Intangible assets

     295,618        298,914  

Long-term prepaid expenses

     412,887        455,391  

Deferred tax assets

     586,920        138,648  

Other non-current assets

     3,511,234        3,511,234  
  

 

 

    

 

 

 

Total non-current assets

     24,568,690        24,250,605  
  

 

 

    

 

 

 

Total assets

     39,781,376        43,243,202  
  

 

 

    

 

 

 

 

9

COMPANY BALANCE SHEETS (CONTINUED)

AS AT 31 MARCH 2020

 

Unit: RMB’000

 

Items

   As at the end of the
Reporting Period 		     As at the beginning
of the year 		 
     (unaudited)      (audited)  

Current liabilities

     

Short-term borrowings

     3,000,000        1,500,000  

Notes receivable

     916,000        715,000  

Accounts receivable

     3,342,273        5,951,568  

Contract Liabilities

     361,908        601,912  

Employee benefits payable

     367,386        183,912  

Taxes payable

     2,528,918        3,776,221  

Other payables

     891,982        854,759  

Including: Interest payable

     2,388        1,531  

Dividends payable

     29,144        29,144  

Non-current liabilities that due within one year

     10,154        10,059  
  

 

 

    

 

 

 

Total current liabilities

     11,418,621        13,593,431  
  

 

 

    

 

 

 

Non-current liabilities

     

Lease liabilities

     7,864        8,860  

Deferred revenue

     127,505        130,005  
  

 

 

    

 

 

 

Total non-current liabilities

     135,369        138,865  
  

 

 

    

 

 

 

Total liabilities

     11,553,990        13,732,296  
  

 

 

    

 

 

 

Shareholders’ equity

     

Share capital

     10,823,814        10,823,814  

Capital surplus

     600,768        600,768  

Other comprehensive income

     -77,419        17,838  

Specific reserve

     82,600        57,135  

Surplus reserve

     6,437,010        6,437,010  

Undistributed profits

     10,360,613        11,574,341  
  

 

 

    

 

 

 

Total shareholders’ equity

     28,227,386        29,510,906  
  

 

 

    

 

 

 

Total liabilities and shareholders’ equity

     39,781,376        43,243,202  
  

 

 

    

 

 

 

 

10

4.2

CONSOLIDATED INCOME STATEMENTS

FOR THE THREE MONTHS ENDED 31 MARCH 2020 (Unaudited)

Unit: RMB’000

 

     Three months ended 31 March  

Items

   2020      2019  

Total revenue

     17,926,384        25,136,233  
  

 

 

    

 

 

 

Including:Revenue

     17,926,384        25,136,233  
  

 

 

    

 

 

 

Total operating cost

     19,537,181        24,583,829  
  

 

 

    

 

 

 

Including: Cost of sales

     16,461,522        20,831,769  

Taxes and surcharges

     2,372,973        2,973,374  

Selling and distribution expenses

     110,122        125,926  

General and administrative expenses

     671,296        765,507  

R&D expenses

     6,071        7,085  

Financial expenses

     -84,803        -119,841  

Including:Financial expense

     15,307        13,572  

Financial income

     98,964        125,729  

Add: Other income

     2,447        584  

Investment income (“-” to indicate loss)

     77,983        195,291  

Including: Share of income of associates and joint ventures

     71,887        209,225  

Profit arising from changes in fair value (“-” for loss)

     21,363        -139  

Credit impairment losses (“-” for loss)

     —          -9  

Asset impairment losses (“-” for loss)

     -120,140        —    

Gains on disposal of assets (“-” for loss)

     —          -790  
  

 

 

    

 

 

 

Operating profit (“-” to indicate loss)

     -1,629,144        747,350  
  

 

 

    

 

 

 

Add: Non-operating income

     18,850        7,361  

Add: Non-operating income

     7,028        7,032  
  

 

 

    

 

 

 

Total profit (“-” to indicate loss)

     -1,617,322        747,679  
  

 

 

    

 

 

 

Less: Income tax expenses

     -415,936        136,682  

 

11

CONSOLIDATED INCOME STATEMENTS (CONTINUED)

FOR THE THREE MONTHS ENDED 31 MARCH 2020 (Unaudited)

 

Unit: RMB’000

 

     Three months ended 31 March  

Items

   2020      2019  

Net Profit (“-” to indicate loss)

     -1,201,386        610,997  

(1) Classification by business continuity

     -1,201,386        610,997  

1. Profit from continuing operations (“-” to indicate loss)

     -1,201,386        610,997  

(2) Classification by ownership

     -1,201,386        610,997  

1. Attributable to equity shareholders of the Company (“-” to indicate loss)

     -1,202,367        610,653  

2. Minority interests (“-” to indicate loss)

     981        344  

Other comprehensive income, net of tax

     -95,257        —    

(1) Other comprehensive income, net of tax attributable to shareholders of the Company

     -95,257        —    

1. Items that cannot be reclassified to profit or loss

     —          —    

2. Items that may be reclassified to profit or loss

     -95,257        —    

(a) Items that may be reclassified to profit or loss using the equity method

     -3,288        —    

(b) Cash flow hedging reserves

     -91,969        —    

(2) Other comprehensive income, net of tax attributable to non-controlling shareholders of the Company

     —          —    
  

 

 

    

 

 

 

Total comprehensive income

     -1,296,643        610,997  
  

 

 

    

 

 

 

Attributable to equity shareholders of the Company

     -1,297,624        610,653  

Minority interests

     981        344  

Earnings per share

     

Basic earnings per share (RMB)

     -0.111        0.056  

Diluted earnings per share (RMB)

     -0.111        0.056  

 

12

COMPANY INCOME STATEMENTS

FOR THE THREE MONTHS ENDED 31 MARCH 2020 (Unaudited)

Unit: RMB’000

 

     Three months ended 31 March  

Items

   2020      2019  

Revenue

     15,192,662        19,013,327  

Less: Cost of sales

     13,763,457        14,794,477  

Taxes and surcharges

     2,369,980        2,967,040  

Selling and distribution expenses

     92,404        107,155  

General and administrative expenses

     648,148        741,310  

R&D expenses

     4,301        5,252  

Financial expenses

     -72,978        -117,357  

Including: Financial expense

     14,798        7,787  

Financial income

     89,421        118,221  

Add: Other income

     1,623        574  

Investment income (“-” to indicate loss)

     68,012        186,459  

Including: Share of income of associates and joint ventures

     62,233        196,779  

Profit arising from changes in fair value (“-” for loss)

     19,988        —    

Credit impairment losses (“-” for loss)

     —          -9  

Asset impairment losses (“-” for loss)

     -120,140        —    

Asset disposal income (“-” to indicate loss)

     —          -5,869  

Operating profit (“-” to indicate loss)

     -1,643,167        696,605  

Add: Non-operating income

     18,850        1,946  

Less: Non-operating expenses

     7,028        7,030  

Total profit (“-” to indicate loss)

     -1,631,345        691,521  

Less: Income tax expenses

     -417,616        125,401  

Net Profit (“-” to indicate loss)

     -1,213,729        566,120  

Profit from continuing operations (“-” to indicate loss)

     -1,213,729        566,120  

Other comprehensive income, net of tax

     -95,257        —    

(—) Items that cannot be reclassified to profit or loss

     —          —    

(—) Items that may be reclassified to profit or loss

     -95,257        —    

1. Items that may be reclassified to profit or loss using the equity method

     -3,288        —    

2. Cash flow hedging reserves

     -91,969        —    
  

 

 

    

 

 

 

Total comprehensive income

     -1,308,986        566,120  
  

 

 

    

 

 

 

Earnings per share

     

Basic earnings per share (RMB)

     -0.112        0.052  

Diluted earnings per share (RMB)

     -0.112        0.052  

 

13

4.3

CONSOLIDATED CASH FLOW STATEMENTS

FOR THE THREE MONTHS ENDED 31 MARCH 2020 (Unaudited)

Unit: RMB’000

 

     Three months ended 31 March  

Items

   2020      2019  

1. Cash flows used in operating activities

     

Cash received from sales of goods or rendering of services

     19,228,821        27,306,858  

Cash received relating to other operating activities

     62,569        6,015  
  

 

 

    

 

 

 

Sub-total of cash inflows

     19,291,390        27,312,873  
  

 

 

    

 

 

 

Cash paid for goods and services

     19,096,902        23,266,199  

Cash paid to and on behalf of employees

     581,241        572,139  

Payments of taxes and surcharges

     3,451,637        4,385,444  

Cash paid relating to other operating activities

     42,229        178,799  
  

 

 

    

 

 

 

Sub-total of cash outflows

     23,172,009        28,402,581  
  

 

 

    

 

 

 

Net cash flows generated operating activities

     -3,880,619        -1,089,708  
  

 

 

    

 

 

 

2. Cash flows generated from investing activities

     

Cash received from entrusted lending

     —          200,000  

Cash received from returns on investments

     1,650        —    

Net cash received from disposal of fixed assets, intangible assets and other long-term assets

     126        4,815  

Cash received relating to other investing activities

     2,875,698        800,215  
  

 

 

    

 

 

 

Sub-total of cash inflows

     2,877,474        1,005,030  
  

 

 

    

 

 

 

Cash paid to acquire fixed assets, intangible assets and other long-term assets

     380,901        293,828  

Cash paid to other related investment activities

     3,401,282        504,396  
  

 

 

    

 

 

 

Sub-total of cash outflows

     3,782,183        798,224  
  

 

 

    

 

 

 

Net cash flows generated from operating activities.

     -904,709        206,806  
  

 

 

    

 

 

 

 

14

CONSOLIDATED CASH FLOW STATEMENTS (CONTINUED)

FOR THE THREE MONTHS ENDED 31 MARCH 2020 (Unaudited)

 

Unit: RMB’000

 

     Three months ended 31 March  

Items

       2020              2019      

3. Cash flows generated from financing activities

     

Cash received from borrowings

     3,167,187        1,897,500  
  

 

 

    

 

 

 

Sub-total of cash inflows

     3,167,187        1,897,500  
  

 

 

    

 

 

 

Cash repayments of borrowings

     1,677,600        972,825  

Cash paid for distribution of dividends or profits and interest expenses

     11,976        10,812  

Cash paid for other fund-raising activities

     9,547        89  
  

 

 

    

 

 

 

Sub-total of cash outflows

     1,699,123        983,726  
  

 

 

    

 

 

 

Net cash flows generated from financing activities

     1,468,064        913,774  
  

 

 

    

 

 

 

4. Effect of foreign exchange rate changes on cash and cash equivalents

     5,171        -1,719  

5. Net increase in cash and cash equivalents

     -3,312,093        29,153  

Add: Cash and cash equivalents at beginning of the Reporting Period

     7,449,699        8,241,893  

6. Cash and cash equivalents at end of the Reporting Period

     4,137,606        8,271,046  

 

15

CASH FLOW STATEMENTS

FOR THE THREE MONTHS ENDED 31 MARCH 2020 (Unaudited)

Unit: RMB’000

 

     Three months ended 31 March  

Items

   2020      2019  

1. Cash flows generated operating activities

     

Cash received from sales of goods or rendering of services

     15,998,915        20,789,805  

Cash received relating to other operating activities

     51,219        8,694  
  

 

 

    

 

 

 

Sub-total of cash inflows

     16,050,134        20,798,499  
  

 

 

    

 

 

 

Cash paid for goods and services

     15,600,585        16,812,058  

Cash paid to and on behalf of employees

     545,350        535,445  

Payments of taxes and surcharges

     3,428,735        4,311,964  

Cash paid relating to other operating activities

     10,600        116,469  
  

 

 

    

 

 

 

Sub-total of cash outflows

     19,585,270        21,775,936  
  

 

 

    

 

 

 

Net cash flows generated operating activities

     -3,535,136        -977,437  
  

 

 

    

 

 

 

2. Cash flows generated investing activities

     

Net cash received from disposal of fixed assets, intangible assets and other long-term assets

     126        4,672  

Cash received relating to other investing activities

     2,876,393        785,005  
  

 

 

    

 

 

 

Sub-total of cash inflows

     2,876,519        789,677  
  

 

 

    

 

 

 

Cash paid to acquire fixed assets, intangible assets and other long-term assets

     354,382        290,527  

Cash paid to other related investment activities

     3,000,000        500,000  
  

 

 

    

 

 

 

Sub-total of cash outflows

     3,354,382        790,527  
  

 

 

    

 

 

 

Net cash flows used in investing activities

     -477,863        -850  
  

 

 

    

 

 

 

 

16

CASH FLOW STATEMENTS (CONTINUED)

FOR THE THREE MONTHS ENDED 31 MARCH 2020 (Unaudited)

 

Unit: RMB’000

 

     Three months ended 31 March  

Items

   2020      2019  

3. Cash flows generated from financing activities

     

Cash received from borrowings

     3,160,000        1,880,000  
  

 

 

    

 

 

 

Sub-total of cash inflows

     3,160,000        1,880,000  
  

 

 

    

 

 

 

Cash repayments of borrowings

     1,660,000        934,725  

Cash paid for distribution of dividends or profits and interest expenses

     11,502        10,204  

Cash paid for other financing activities

     9,400        —    
  

 

 

    

 

 

 

Sub-total of cash outflows

     1,680,902        944,929  
  

 

 

    

 

 

 

Net cash flows generated from financing activities

     1,479,098        935,071  
  

 

 

    

 

 

 

4. Effect of foreign exchange rate changes on cash and cash equivalents

     —          —    

5. Net increase in cash and cash equivalents

     -2,533,901        -43,216  

Add: Cash and cash equivalents at beginning of the Reporting Period

     5,754,440        7,119,013  

6. Cash and cash equivalents at end of the Reporting Period

     3,220,539        7,075,797  

By Order of the Board

Sinopec Shanghai Petrochemical Company Limited

Wu Haijun

Chairman

Shanghai, the PRC, 28 April 2020

 

17

Sinopec Shanghai Petroch... (NYSE:SHI)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Sinopec Shanghai Petroch....
Sinopec Shanghai Petroch... (NYSE:SHI)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Sinopec Shanghai Petroch....