Sinopec Shanghai Petrochemical Company Limited Posted 162.3 Million Yuan Net Loss in First Quarter of 2023

Sinopec Shanghai Petrochemical Company Limited (中国石化上海石油化工股份有限公司) (600688.SH) reported a net loss of 162.3 million yuan in the first quarter of 2023, reversing a net profit of 215.2 million yuan for the same period in the previous year.

Meanwhile, the company posted 22 billion yuan in revenue, down 15.5% year-on-year.

At the end of the reporting period, it had 40.6 billion yuan in total assets and 14.4 billion yuan in total liabilities, with a liability-to-asset ratio of 35.5%.