Sinopec Shanghai Petrochemical Company Limited has reported increased turnover for the year ended December 31, 2005. However, profit for the year dropped by 51%.

Turnover of the group for 2005 amounted to RMB45.9559 billion (approximately $5.6945 billion), an increase of 16.63% compared with 2004. Profit before tax was RMB2.2876 billion ($0.2835 billion), representing a decrease of 51.29%.

Located in Jinshan District in the southwest of Shanghai, Shanghai Petrochemical processes crude oil into a broad range of synthetic fibres, resins and plastics, intermediate petrochemicals and petroleum products.