Sinopec Shanghai Petrochemical Co. Ltd. SPTJF

What this company does

Sinopec Shanghai Petrochemical runs an integrated petrochemical complex that processes crude oil into products in four product areas: synthetic fibers, resins and plastics, intermediate petrochemicals, and petroleum products. In 2022 it processed a total of 10.4453 million tons of crude oil. A substantial portion of its revenues comes from customers in Eastern China, principally Shanghai and its six neighboring provinces. In 2022, 11.85% of its synthetic fiber products were purchased by provincial and municipal government trading companies acting as intermediaries with end-users. The key parts of the vertically integrated production facility are the ethylene facility, which produces ethylene and propylene, and the aromatics facility, which mainly produces paraxylene and benzene. Intermediate petrochemical products are processed into five kinds of synthetic fiber raw materials: polyester, acrylonitrile, polypropylene, polyethylene and PVA. Crude oil is purchased through Sinopec Corp. and its affiliates, at market prices, from sources the company selects and in quantities it confirms. Sinopec Corp., the controlling shareholder, and its concert parties hold approximately 50.55% of the outstanding shares.

Written from the business description in Sinopec Shanghai Petrochemical Company Limited's annual report to the U.S. Securities and Exchange Commission, filed 26 April 2023. Every sentence was checked against that document before publication.