Shanghai Petrochemical Counter-City Gao Kai 3%q2 profit continues to improve

The Shanghai Petrochemical Company, which announced earlier that Q1 had been successful and said it was confident that it would remain profitable this year, has opened 3.07% to 2.69 Hong Kong dollars this morning, closing 1.972 million shares. Shanghai Petrochemical A shares (600688-CN) is also up 0.36% to 8.25 yuan. or encouraged by news of the second quarter's better earnings than in the previous quarter. Due to its forecasts, benefiting from the international market crude oil prices fell year-on-year, the group of crude raw materials cost significantly lower, refined oil pricing mechanism, chemical product prices rebound; The 09 fiscal year's interim results were more profitable than in 08, and the second quarter was better than the first quarter.　　And its Q1 has achieved net profit of RMB 164.1 million yuan.　　However, the company also warned that the impact of the financial crisis continued and spread, the global economy has not seen a clear sign of recovery, industry competition further intensified, and crude oil price trend higher risk. The latest international oil price, due to the unexpected decline in crude oil inventories and rising demand, the New York Mercantile Exchange Tue Light and low sulfur crude oil futures contract yesterday the settlement price rose 1.32 U.S. dollars or 1.9% to 71.33 U.S. dollars a barrel, the highest settlement price since October 20 last year level.