Sinopec Shanghai Petrochemical reported a 19.3% year-on-year rise in net profit for the first half of 2026. Net profit reached 25.63 billion yuan under Chinese accounting standards, up from 21.48 billion yuan a year earlier. The company recorded a 16 billion yuan provision for asset impairment due to oil and fuel price volatility. Crude oil processing fell 5.6% to 113.31 million metric tons, while refining margin rose 44.1% to 453 yuan per metric ton. Operating profit in the refining segment grew 381.5% as the company expanded crude sourcing outside the Middle East and adjusted its product mix.
Sinopec Shanghai Petrochemical Co Ltd Class ANet profit rose 19.3% year-on-year, with refining margin up 44.1% and operating profit in refining up 381.5%.
