Shanghai Pechem (00338) announced that the Group is expected to achieve a net income attributable to shareholders of the parent company of approximately RMB 24.57 million to RMB 36.85 million in the first half of 2024, an improvement compared to the same period last year (statutory disclosure data). It is expected that the non-net profit will be RMB 49.53 million to RMB 74.29 million, and the year-on-year loss will be reversed.
According to the announcement, the international oil price is showing an overall upward trend, and market demand is steadily recovering. The company continues to optimize its production operation, and the average price of its main products is higher than the increase in crude oil processing costs. The gross profit of products is increasing, and the profit is increasing.