Manufacturing Industry
Two Subsidiaries of Sinopec announced H1 fiscal report.(Sinopec Yangzi Petrochemical Company Ltd. and Sinopec Shanghai Petrochemical Company Ltd.)
China Chemical Reporter, September, 2005
On August 26th, Sinopec Yangzi Petrochemical Company Ltd. and Sinopec Shanghai Petrochemical Company Ltd. released the H1 fiscal report with a rapid increase.
Yangzi Petrochemical recorded a core business revenue of RMB 19.17 billion and a net profit of RMB2.33 billion in the first months of 2005, an increase of 32.38% and 35.92% respectively. And its earning per share was as high as RMB1.00.
The core business revenue of Shanghai Petrochemical was RMB21.89 billion with an increase of 23.11% while the net profit was RMB1.65 billion, representing a growth of 7.79% compared with the same period of 2004.
The rising price of crude oil has no doubt added more cost to the two companies. Shanghai Petrochemical claimed the cost increase growth was...
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