Zhitong Finance APP News, Shanghai Pechem (00338) announced that the group expects to achieve a net income belonging to shareholders of the parent company in the first half of 2024, which is about RMB 24.57 million to 36.85 million. Compared with the same period last year (statutory disclosure data), it will realize a turnaround from loss to profit. It is expected that the non-generally accepted accounting principles net profit will be RMB 49.53 million to 74.29 million, and will realize a turnaround from loss to profit compared to the same period last year.

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.