Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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

Stock Code00338

2018 Annual Results Announcement

  • 1. IMPORTANT MESSAGE

  • 1.1 The Board of Directors (the "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 2018 annual report, and warrant that there are no false representations or misleading statements contained in, or material omissions from, the 2018 annual report of the Company, and severally and jointly accept responsibility.

  • 1.2 This annual results announcement is extracted from the full text of the 2018 annual report. The Chinese version of the full report is published on the websites of the Shanghai Stock Exchange ("SSE"), The Stock Exchange of Hong Kong Ltd ("Hong Kong Stock Exchange") and the Company. For details, investors are advised to read the full text of the 2018 annual report.

  • 1.3 Director(s) who has/have not attended the Board meeting for approving the 2018 annual report of the Company is/are:

Name of Director Lei DianwuPositionReasons for Absence

Non-Executive Director

Business Engagement

Name of Proxy Wu Haijun

Jin Qiang

Executive Director

Business Engagement

Wu Haijun

  • 1.4 The financial statements for the year ended 31 December 2018 (the "Reporting Period"), prepared under the People's Republic of China ("PRC" or "China")'s Accounting Standards ("CAS") as well as the International Financial Reporting Standards ("IFRS"), were audited by PricewaterhouseCoopers Zhong Tian LLP and PricewaterhouseCoopers, respectively, and both firms have issued unqualified opinions on the financial statements in their auditors' reports.

  • 1.5 In 2018, the net profit attributable to equity shareholders of the Company amounted to RMB 5,277,186,000 under CAS (net profit of RMB 5,336,331,000 under IFRS). According to the 2018 profit distribution plan approved by the Board on 19 March 2019, the Board proposed to distribute a dividend of RMB 0.25 per share (including tax) (the "Final Dividend") based on the total number of issued shares of the Company as at the record date for distributing dividend. The 2018 profit distribution plan will be implemented subject to approval of the Company's 2018 annual general meeting (the "AGM"). The date and time of the AGM and book closure arrangement will be announced later. The notice of the AGM will be announced separately in accordance with the provisions of the Articles of Association of the Company. The notice of the AGM, the accompanying circular and proxy form will be despatched to holders of H shares in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Hong Kong Listing Rules").

    Subject to the passing of the resolution by the shareholders of the Company at the AGM, the Final Dividend is expected to be distributed on or around Thursday, 18 July 2019 to shareholders whose names appear on the register of members of the Company's H shares at the close of business on Monday, 1 July 2019. The Final Dividend is denominated and declared in Renminbi. The Final Dividend payable to the holders of the Company's A shares shall be paid in Renminbi while those payable to the holders of the Company's H shares shall be paid in Hong Kong dollars. The amount of Hong Kong dollars payable shall be calculated on the basis of the average closing exchange rates for Hong Kong dollars as announced by the Foreign Exchange Trading Centre of the PRC one calendar week prior to the approval of the Final Dividend at the AGM.

    The Company is expected to close the register of members of the Company's H shares from Wednesday, 26 June 2019 to Monday, 1 July 2019 (both days inclusive), during which period no transfer of H shares will be registered in order to confirm the shareholders' entitlement to receive the Final Dividend. The holders of the Company's H shares who wish to receive the Final Dividend should lodge the transfer documents and relevant share certificates with the Company's H shares share registrar, Hong Kong Registrars Limited, at Room 1712-1716, 17/F,

    Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong on or before 4:30 p.m. on Tuesday, 25 June 2019.

    The record date for dividend distribution, distribution procedures and time for the distribution of dividends applicable to holders of the Company's A shares will be announced separately.

2.

2.1

2.2 Contact persons and contact details

Place of listing of A shares:

Shanghai Stock Exchange

Stock abbreviation of A

上海石化

shares:

Stock code of A shares:

600688

Place of listing of H shares:

The Stock Exchange of Hong Kong Limited

Stock abbreviation of H

SHANGHAI PECHEM

shares:

Stock code of H shares:

00338

Place of listing of American

New York Stock Exchange

Depositary Receipts (ADR):

Code of American Depositary

SHI

Receipts (ADR):

Registered address and

48 Jinyi Road, Jinshan District, Shanghai,

business address:

PRC

Postal Code:

200540

Principal place of business in

Room 605, Island Place Tower, 510 King's

Hong Kong:

Road, Hong Kong

Website of the Company:

www.spc.com.cn

E-mail address:

spc@spc.com.cn

CORPORATE INFORMATION

Corporate information

Secretary to the

Securities Affairs

Board

Representative

Name

Guo Xiaojun

Ding Yonghui

Address

48 Jinyi Road, Jinshan

48 Jinyi Road, Jinshan

District, Shanghai, PRC,

District, Shanghai, PRC,

Postal Code: 200540

Postal Code: 200540

Tel

8621-57943143

8621-57933728

Fax

8621-57940050

8621-57940050

E-mail

guoxiaojun@spc.com.cn

dingyonghui@spc.com.cn

3

2.3 Introduction of main business or products during the Reporting Period

Located at Jinshanwei in the southwest of Shanghai, the Company is a highly integrated petrochemical enterprise which mainly processes crude oil into a broad range of petroleum products, intermediate petrochemicals, resins and plastics and synthetic fibresintermediate petrochemicals. The Company sells most of its products within the PRC domestic market and derives most of its revenues from customers in Eastern China, one of the fastest growing regions in the PRC.

The Company's high-quality development is supported by the ever-increasing demand in the PRC for petrochemical products. Relying on the competitive advantage of its high degree of integration, the Company is optimizing its product mix, improving the quality and variety of its existing products, upgrading technology and increasing the capacity of its key upstream plants.

In 2018, focusing on overall efficiency and profits of the Company, the Group actively responded to the complex and constantly changing market environment, worked on safety and environmental protection, optimizing operation, cost reduction, market development, research and development, human resource development, etc. The Group has achieved major improvement in production and operation and has continued to maintain a relatively high level of profitability.

3. ACCOUNTING DATA AND FINANCIAL INDICATORS

3.1

Major accounting data (Prepared under CAS)

Major accounting data

UnitRMB'000

Increase/ decrease compared to the previous

2018

2017

year (%)

2016

Revenue

Total profit

Net profit attributable to shareholders of the Company

Net profit attributable to shareholders of the Company excluding non-recurring items Net cash flows generated from operating activities

107,764,908 6,748,976

5,277,186

5,067,583 6,695,099

End of 2018

92,013,569 7,851,234

6,141,558

6,293,745 7,078,482

End of 2017

17.12% 77,894,285

  • -14.04% 7,765,405

  • -14.07% 5,955,576

  • -19.48% 5,921,988

  • -5.42% 7,210,957

Increase/ decrease compared tothe previous year (%)

End of 2016

Total equity attributable to equity shareholders of the Company

30,370,126 44,539,960

28,256,306 39,609,536

  • 7.48% 24,750,048

    Total assets

  • 12.45% 34,123,693

Attachments

  • Original document
  • Permalink

Disclaimer

Sinopec Shanghai Petrochemical Company Limited published this content on 20 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 19 March 2019 23:59:01 UTC