Sinopec Shanghai Petrochemical Co. Ltd. provided group earnings guidance for the year ended December 31, 2015. The group is expected to record a profit for the year ended December 31, 2015, which stands in contrast to the loss recorded for the same period of the last year.

Under the China Accounting Standards for Business Enterprises, net profit attributable to equity shareholders of the company is expected to be between RMB 3.14 billion and RMB 3.34 billion. The company reported net loss attributable to equity shareholders of the company of RMB 716,427,000 or RMB 0.066 per share for the last year same period. Major reasons for turning losses into profits in the results for the period: The international oil price declined in 2015 on account of several factors, including oversupply, a stronger US dollar and geopolitical reasons, etc., so that the average price of oil for the year experienced a substantial drop compared to 2014.

The Group further tweaked its internal management, concentrating on product optimization, cost control and efficiency enhancements. Compared to the same period of last year, the Group saw a marked decrease in the cost of crude oil processing. The slide in average prices of products was smaller than the slide in the cost of raw materials, leading to a rise in the gross profit margin of products.

In addition, the Group's investment income from its associates soared.