$SPTJF

SINOPEC SHANGHAI PETROCHEMICAL CO LTD

CIK:0000908732|SEC Filings

Consolidated statements of profit or loss and other comprehensive income - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of comprehensive income [abstract]
Revenue	¥ 82,443,156	¥ 89,198,492	¥ 74,623,575
Taxes and surcharges	(9,788,593)	(13,309,688)	(13,062,710)
Net sales	72,654,563	75,888,804	61,560,865
Cost of sales	(76,265,940)	(74,298,048)	(61,901,114)
Gross (loss)/profit	(3,611,377)	1,590,756	(340,249)
Selling and administrative expenses	(288,701)	(368,243)	(486,323)
Reversal/(provision) of impairment losses on financial assets	(5,366)	(1,355)	120,916
Other operating income	110,641	125,305	148,676
Other operating expenses	(25,775)	(44,712)	(24,686)
Other gains/(losses) - net	(22,788)	130,481	115,430
(Loss) / profit from operations	(3,843,366)	1,432,232	(466,236)
Finance income	541,830	508,755	431,228
Finance expenses	(98,502)	(94,186)	(98,954)
Finance income – net	443,328	414,569	332,274
Share of net profits/(losses) of associates and joint ventures accounted for using the equity method	(173,616)	874,285	724,740
Profit/(loss) before taxation	(3,573,654)	2,721,086	590,778
Income tax benefits/(expenses)	731,354	(644,480)	65,620
Profit/(loss) for the year	(2,842,300)	2,076,606	656,398
Profit/(loss) attributable to:
Equity shareholders of the Company	(2,846,156)	2,073,431	645,072
Non-controlling interests	3,856	3,175	11,326
Profit/(loss) for the year	¥ (2,842,300)	¥ 2,076,606	¥ 656,398
Earnings/(losses) per share attributable to equity shareholders of the Company for the year (expressed in RMB per share)
Basic earnings/(losses) per share	¥ (0.263)	¥ 0.192	¥ 0.06
Diluted earnings/(losses) per share	¥ (0.263)	¥ 0.192	¥ 0.06
Profit/(loss) for the year	¥ (2,842,300)	¥ 2,076,606	¥ 656,398
Other comprehensive income
Share of other comprehensive income of associates accounted for using the equity method	(23,771)	16,639	(11,512)
Cash flow hedges: net movement in hedging reserve	201,519	125,159	0
Other comprehensive income for the year, net of tax	177,748	141,798	(11,512)
Total comprehensive income for the year	(2,664,552)	2,218,404	644,886
Attributable to:
Equity shareholders of the Company	(2,668,408)	2,215,229	633,560
Non-controlling interests	3,856	3,175	11,326
Total comprehensive income for the year	¥ (2,664,552)	¥ 2,218,404	¥ 644,886

Consolidated Statements of Cash Flow - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Cash generated from / (used in) operations	¥ (6,960,734)	¥ 4,411,653	¥ 1,995,087
Interest paid	(121,876)	(110,070)	(71,369)
Income tax paid	(376,765)	(351,627)	(243,870)
Net cash generated from / (used in) operating activities	(7,459,375)	3,949,956	1,679,848
Cash flows from investing activities
Dividends received from joint ventures and associates	683,780	777,220	561,755
Interest received from entrusted loans	2,704	0	0
Interest received from structured deposits	11,124	97,921	132,690
Interest received from related parties	0	0	2,088
Interest received from banks excluded structured deposits	330,216	398,937	275,626
(Payments)/proceeds from settlement of derivative financial instruments	(14,679)	5,674	(912)
Payment for the purchase of property, plant and equipment and construction in progress	(2,836,912)	(3,224,000)	(1,840,986)
Net proceeds from disposal of property, plant and equipment	13,937	55,254	59,642
Cash received from time deposits with maturity less than one year	7,350,000	3,800,000	500,000
Cash received from time deposits with maturity more than one year	1,800,000	0	0
Cash received from maturity of structured deposits	1,000,000	8,150,000	10,900,000
Cash payment for investment in structured deposits	(1,000,000)	(8,150,000)	(7,600,000)
Cash payment for investment in entrusted loans	(150,000)	0	0
Cash received from investment in entrusted loans	150,000	0	0
Cash payment for investment deposits	(50,000)	0	0
Payment for investment in associates and a joint venture	(296,672)	0	0
Cash payment for investment in time deposits with maturity less than one year	0	(3,650,000)	(3,000,000)
Cash payment for investment in time deposits with maturity more than one year	(2,600,000)	(2,000,000)	(3,500,000)
Acquisition of a subsidiary, net of cash acquired	0	0	(340,315)
Payment for set up of an associate	0	(26,000)	(27,603)
Payment for set up of a joint venture	0	(50,000)	0
Proceeds from capital reduction of an associate	0	1,460,258	0
Payment for sales of financial assets at fair value through other comprehensive income	(3,148)	(4,685)	(9,513)
Net cash (used in) / generated from investing activities	4,390,350	(2,359,421)	(3,887,528)
Cash flows from financing activities
Proceeds from borrowings	19,485,000	14,163,132	3,458,100
Proceeds from short-term bonds	5,000,000	5,998,899	2,998,469
Repayments of borrowings	(19,494,800)	(13,451,332)	(3,460,556)
Repayments of short-term bonds	(5,000,000)	(9,000,000)	0
Principal elements of lease payments	(13,069)	(17,544)	(15,586)
Dividends paid by subsidiaries to non-controlling interests	(11,434)	(4,901)	(4,901)
Dividends paid to the Company's shareholders	(1,081,327)	(1,081,326)	(1,293,736)
Payment for repurchase of shares	(53,262)	0	0
Net cash generated from / (used in) financing activities	(1,168,892)	(3,393,072)	1,681,790
Net decrease in cash and cash equivalents	(4,237,917)	(1,802,537)	(525,890)
Cash and cash equivalents at the beginning of the year	5,112,010	6,916,408	7,449,699
Exchange (losses) / gains on cash and cash equivalents	15,320	(1,861)	(7,401)
Cash and cash equivalents at end of the year	¥ 889,413	¥ 5,112,010	¥ 6,916,408

Consolidated statements of financial position - CNY (¥)
¥ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Non-current assets

Property, plant and equipment

¥ 12,179,504

¥ 11,310,032

Right-of-use assets

379,805

385,643

Investment properties

336,863

352,188

Construction in progress

3,748,461

3,293,177

Investments accounted for using the equity method

3,504,393

4,088,888

Financial assets at fair value through other comprehensive income

5,000

Time deposits with banks

3,389,559

5,581,435

Deferred tax assets

991,850

184,143

Other non-current assets

835,400

787,807

Non-current assets

25,370,835

25,988,313

Current assets

Inventories

7,294,060

5,923,525

Financial assets at fair value through other comprehensive income

582,354

1,047,690

Derivative financial instruments

81,405

Trade receivables

69,351

77,425

Other receivables

107,507

47,597

Prepayments

17,832

30,364

Value added tax recoverable

1,057,463

13,322

Amounts due from related parties

2,638,983

1,212,331

Cash and cash equivalents

889,413

5,112,010

Time deposits with banks

3,108,919

7,386,607

Current assets

15,765,882

20,932,276

Total assets

41,136,717

46,920,589

Equity and liabilities

Share capital

10,823,814

Reserves

15,403,868

19,418,325

Equity attributable to owners of the Company

26,227,682

30,242,139

Non-controlling interests

127,681

135,259

Total equity

26,355,363

30,377,398

Non-current liabilities

Borrowings

700,000

Lease liabilities

7,513

1,384

Deferred tax liabilities

30,895

33,344

Deferred income

44,608

12,720

Non-current liabilities

783,016

747,448

Current liabilities

Borrowings

1,550,000

1,559,800

Lease liabilities

8,738

3,229

Derivative financial instruments

23,804

Contract liabilities

372,760

424,607

Trade and other payables

2,926,534

3,095,694

Amounts due to related parties

^[1]

7,887,809

6,304,816

Current tax liabilities

931,852

3,865,231

Staff salaries and welfares payable

317,891

260,096

Income tax payable

2,754

258,466

Current liabilities

13,998,338

15,795,743

Total liabilities

14,781,354

16,543,191

Total equity and liabilities

¥ 41,136,717

¥ 46,920,589

[1]	Amounts due to related parties – measured at FVPL represents the obligation that the Company needs to return the crude oil to its related party with maturity of less than 1 year, which is measured at fair value through profit or loss.