Sinopec Shanghai Petrochemical : 2019 First Quarterly Report

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)

2019 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

1.1The 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 2019 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.

1.2All directors attended the sixteenth meeting of the ninth session of the Board, and have considered and adopted the 2019 first quarterly report at the meeting.

1.3Mr. Wu Haijun, Chairman of the Company, Mr. Zhou Meiyun, Executive Director, Vice President and Chief Financial Officer overseeing the accounting operations, and Ms. Yang Yating, person-in-charge of Accounting Department (Deputy Accounting Chief) and Finance Manager warrant the truthfulness, accuracy and completeness of the financial report contained in this first quarterly report.

1.4The financial report of the Company's 2019 first quarterly report was prepared under the

China Accounting Standards for Business Enterprises and was un unaudited.

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2. Key Financial Data & Change in Shareholdings

2.1Major Accounting Data

	As at the end of	As at the end of	Increase/decrease at
	the Reporting	the previous	the end of the
	Period	year	Reporting Period as
			compared to the end
			of the previous year
			(%)
Total assets (RMB'000)	43,079,860	44,539,960	-3.28
Total equity attributable to	30,993,549	30,370,126	2.05
equity shareholders of the
Company (RMB'000)
	From the	From the	Increase/decrease
	beginning of the	beginning of the	as compared to the
	year to the end of	year to the end of	corresponding
	the Reporting	the Reporting	period of the
	Period (January	Period last year	previous year (%)
	to March)	(January to	(January to March)
		March)
Net cash flows generated	-1,089,708	1,635,267	-166.64
from operating activities
(RMB'000)
	From the	From the	Increase/decrease as
	beginning of the	beginning of the	compared to the
	year to the end of	year to the end of	corresponding period
	the Reporting	the Reporting	of the previous year
	Period (January	Period last year	(%)(January to
	to March)	(January to	March)
		March)
Revenue (RMB'000)	25,136,233	25,759,522	-2.42
Net profit attributable to	610,653	1,771,513	-65.53
equity shareholders of the
Company (RMB'000)
Net profit attributable to	624,529	1,768,368	-64.68
equity shareholders of the
Company excluding non-
recurring items (RMB'000)
Return on net assets	1.992	5.841	Decreased by
(weighted average) (%)			3.85 percentage points
Basic earnings per share	0.056	0.164	-65.85
(RMB/share)
Diluted earnings per share	0.056	0.164	-65.85
(RMB/share)

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Excluded non-recurring items and amount:

	Unit: RMB'000
Item	Amount for the
	Reporting Period
	(January to
	March)
Losses on disposal of non-current assets	-790
Government grants recognized through profit and loss except for government	584
grants under the State's unified standards on quota and amount entitlements
and closely related to corporate business
In addition to the effective hedging business related to the company's normal	-13,934
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.
Other non-operating income and expenses other than those mentioned above	329
Other profit and loss items that meet the definition of non-recurring items	-7,377
Effect on minority interests (after tax)	886
Tax effect for the items above	6,426
Total	-13,876

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2.2Total 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							88,503
	Shareholdings of the top ten shareholders
Name of shareholder	Number of	Percentage of	Number of	Number of shares			Type of
(in full)	shares held at	total	shares with	pledged or frozen			shareholder
	the end of the	shareholding (%)	selling
	Reporting		restrictions	Situation		Number
	Period			of the
				shares
China Petroleum &	5,460,000,000	50.44	0		None	0	State-
Chemical Corporation							owned
							legal
							person
HKSCC (Nominees)	3,458,212,771	31.95	0	Unknown		0	Overseas
Limited							legal
							person
China Securities	324,111,018	2.99	0		None	0	Others
Finance Corporation
Limited
HKSCC Limited	79,935,466	0.74	0		None	0	Others
Central Huijin	67,655,800	0.63	0		None	0	Others
Investment Ltd.
GF Fund -	45,222,300	0.42	0		None	0	Others
Agricultural Bank of
China - GF CSI
Financial Asset
Management Plan
Dacheng Fund -	43,531,469	0.40	0		None	0	Others
Agricultural Bank of
China - Dacheng CSI
Financial Asset
Management Plan
China Asset Fund -	43,083,750	0.40	0		None	0	Others
Agricultural Bank of
China - China Asset
CSI Financial Asset
Management Plan
Bosera Fund -	43,083,700	0.40	0		None	0	Others
Agricultural Bank of
China - Bosera CSI
Financial Asset
Management Plan
E Fund - Agricultural	43,083,700	0.40	0		None	0	Others
Bank of China - E
Fund CSI Financial
Asset Management
Plan

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Shareholdings of the Top Ten Shareholders with Unlimited Conditions of Sale

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

China Petroleum &	5,460,000,000	RMB common	5,460,000,000
Chemical Corporation		stocks
HKSCC (Nominees)	3,458,212,771	Overseas	3,458,212,771
Limited		listed foreign
		share
China Securities Finance	324,111,018	RMB common	324,111,018
Corporation Limited		stocks
HKSCC Limited	79,935,466	RMB common	79,935,466
		stocks
Central Huijin Investment	67,655,800	RMB common	67,655,800
Ltd.		stocks
GF Fund - Agricultural	45,222,300	RMB common	45,222,300
Bank of China - GF CSI		stocks
Financial Asset
Management Plan
Dacheng Fund -	43,531,469	RMB common	43,531,469
Agricultural Bank of		stocks
China - Dacheng CSI
Financial Asset
Management Plan
China Asset Fund -	43,083,750	RMB common	43,083,750
Agricultural Bank of		stocks
China - China Asset CSI
Financial Asset
Management Plan
Bosera Fund - Agricultural	43,083,700	RMB common	43,083,700
Bank of China - Bosera		stocks
CSI Financial Asset
Management Plan
E Fund - Agricultural Bank	43,083,700	RMB common	43,083,700
of China - E Fund CSI		stocks
Financial Asset
Management Plan
Explanation of the connected	Among the above-mentioned shareholders, China Petroleum & Chemical Corporation,
relationship or acting in concert	a state-owned legal person, does not have any connected relationship with the other
relationship of the above	shareholders, and does not constitute an act-in-concert party under the Administration
	Measures on Acquisition of Listed	Companies. Among	the above-mentioned
shareholders
	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.

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