Exhibit 99.1

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Sinopec Shanghai Petrochemical Company Limited

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(A joint stock limited company incorporated in the People’s Republic of China)

(Stock Code: 00338)

Major Operating Data of the 2023 Financial Year

According to Rule 15 of the Guidelines of the Shanghai Stock Exchange for Self-regulatory Guidelines for Listed Companies No.3 – Industry Information Disclosure No.13 – Chemical Industry, Sinopec Shanghai Petrochemical Company Limited (the “Company”, together with its subsidiaries, the “Group”) hereby announces the major operating data for the twelve months ended 31 December 2023 as follows:

I.	MAJOR OPERATING DATA OF THE 2023 FINANCIAL YEAR


Product	Production volume (10,000 tons)		Sales volume (10,000 tons)		Sales revenue (RMB1,000)
Petroleum products
Diesel		339.23		340.39		22,752,021
Gasoline		334.89		335.20		28,705,944
Jet Fuel ^note¹		192.54		132.08		7,731,896
Intermediate petrochemicals
PX ^note²		70.72		70.87		5,261,758
Benzene ^note¹		37.27		34.43		2,199,214
Ethylene Glycol ^note²		7.19		6.05		219,671
Ethylene Oxide		11.97		11.47		639,636
Ethylene ^note²		64.11		—		—
Resins and plastics
PE		52.56		49.84		3,815,764
PP		42.18		40.64		3,006,997
Polyester chips ^note¹ ^{note 2}		3.77		3.81		224,093
Synthetic fibres
Acrylics		2.14		2.42		331,064

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Note 1: Sales volume excluded materials processed on a sub-contract basis.

Note 2: Part of the difference between the production volume and sales volume is for internal use.

The above data for sales volume and sales revenue does not include the data for the Group’s trading of petrochemical products.

II.

CHANGE IN PRICES OF MAJOR PRODUCTS AND RAW MATERIALS IN THE 2023 FINANCIAL YEAR

Unit: RMB/ton


Product	The average price in the 2023 financial year		The average price in the 2022 financial year		Year-on-year Change			Compared with the fourth quarter of 2023
Diesel		6,684		7,158		-6.62	%		2.02	%
Gasoline		8,564		8,901		-3.79	%		1.44	%
Jet Fuel		5,854		6,495		-9.87	%		5.69	%
Ethylene		—		—		—			—
PX		7,425		7,433		-0.11	%		-5.86	%
Benzene		6,388		6,920		-7.69	%		1.69	%
Ethylene
Glycol		3,634		4,136		-12.13	%		—
Ethylene Oxide		5,578		6,561		-14.98	%		—
PE		7,656		8,703		-12.03	%		0.24	%
PP		7,399		8,186		-9.62	%		4.12	%
Polyester chips		5,882		6,385		-7.88	%		—
Acrylics		13,706		15,794		-13.22	%		-6.10	%

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Raw material	The average processing cost in the 2023 financial year		The average processing cost in the 2022 financial year		Year-on-year Change			Compared with the fourth quarter of 2023
Crude oil		4,358		4,683		-6.94	%		11.39	%

III.

MISCELLANEOUS

The above-mentioned operating data was calculated based on the internal statistics of the Company and is intended to provide an overview of the production and operation of the Company to the investors on a timely basis. The operating data is unaudited and does not make any express or implied forecasts or guarantees in respect of the Company’s future operating conditions. Investors are advised to exercise caution when using such information.

By Order of the Board

Sinopec Shanghai Petrochemical Company Limited

Liu Gang

Joint Company Secretary

Shanghai, the PRC, 23 January 2024

As at the date of this announcement, the executive directors of the Company are Wan Tao, Guan Zemin, Du Jun and Huang Xiangyu; the non-executive directors of the Company are Xie Zhenglin and Qin Zhaohui; and the independent non-executive directors of the Company are Tang Song, Chen Haifeng, Yang Jun, Zhou Ying and Huang Jiangdong.

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SINOPEC SHANGHAI PETROCHEMICAL CO LTD 6-K