Cahill was on target from the spot in the 19th minute for Shenhua, edging the Socceroos talisman closer to achieving yet another record in his remarkable career.
Yet it wasn't enough to ensure victory as Asamoah Gyan's goal pulled Shanghai SIPG level.
A Mohamed Sissoko own goal then handed the visitor all three points.
Meantime Socceroos centre-back Spiranovic started and scored the equaliser for Hangzhou in its 2-1 victory over Guizhou.
Anselmo Ramon bagged the winner for the visitor in the second half, in what was Spiranovic's third appearance for Hangzhou.
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