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 Code:00338)
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 |
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
Unit:RMB'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
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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