3 stories mentioning SHA:600688Updated 18d ago
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Sinopec Shanghai Petrochemical's (SHA:600688) stock fluctuated more than 20% from June 2 to 4 following reports of its T1000-grade high-performance carbon fiber, according to a Friday filing with the Shanghai bourse.The carbon fiber has yet to reach significant revenue, the company said.
Sinopec Shanghai Petrochemical (HKG:0338, SHA:600688) tapered expectations around its T1000 grade high-performance carbon fiber following media reports about the product.In a Hong Kong bourse filing Thursday, the firm said the carbon fiber referenced in the reports is a 12K small tow, which is yet to generate revenue or contribute meaningfully once it makes sales.The announcement came after the firm took note of the closing price of its A shares over three consecutive trading days ending June 4, during which its stock price rose by at least 20% in aggregate.The firm clarified that aside from the media reporting, there were no undisclosed matters that would warrant an unusual movement in its A shares' price.The petrochemical firm's Hong Kong shares gained nearly 1% in late morning trade Friday.
Sinopec Shanghai Petrochemical Company (HKG:0338, SHA:600688) booked 415.2 million yuan in attributable profit for the first quarter of 2026, swinging from a loss of 89.8 million yuan a year earlier, according to a Hong Kong bourse filing Wednesday.The petrochemical firm's Hong Kong shares gained over 3% in afternoon trade Thursday.Earnings per share were 0.039 yuan, compared with a loss of 0.008 yuan in the prior year period.Operating income fell 9.5% year on year to 17.66 billion yuan, figures showed.
