[Press Release] SEG Announces 2025 Interim Results

DJ [Press Release] SEG Announces 2025 Interim Results

EQS Newswire / 17/08/2025 / 21:58 UTC+8 
 
Press Release 
 
(For immediate release) 
 
  
 
  
 
SEG Announces 2025 Interim Results 
 
  
 
Achieving Milestones in Operations and Expanding Overseas Markets 
 
  
 
  
 
(17 August 2025, Hong Kong) SINOPEC Engineering (Group) Co., Ltd. ("SEG" or the "Company", together with its 
subsidiaries collectively known as the "Group") (stock code: 2386) today announces its interim results for the six 
months ended 30 June 2025 (the "Reporting Period"). 
 
  
 
During the Reporting Period, the Board, the management, and all employees worked in unity in optimizing existing 
assets, seeking growth, strengthening foundations, and managing risks. We fully optimized production and operations. 
With steadfast commitment to high quality development to counter external uncertainties, we achieved a series of new 
progress and accomplishments. 
 
  
 
First, we upheld our positioning of "technological innovation plus engineering services", enhancing our value creation 
capabilities in engineering services, technological innovation, and capital operations, with business performance 
growing for three consecutive years. During the Reporting Period, the Group's ongoing projects progressed steadily, 
generating revenue of RMB 31.559 billion, up 10.1% year on year. With synergistic advantages in engineering, 
technology, and capital, the Group achieved a net profit of RMB 1.388 billion, up 4.8% year on year. During the 
Reporting Period, the Group continued driving technological innovation, with newly signed technology development, 
licensing, and transformation contracts reaching RMB 720 million, steadily enhancing our research profitability. Our 
technology driven advantages led to steady growth and rising share in front-end and EPC businesses. This improved 
revenue structure has enabled the Company to maintain strong profitability and resilience amid intense market 
competition. 
 
  
 
Second, we adhered to the "customer-centric" philosophy, building a competitive edge through "high level front end 
engineering capabilities plus optimal cost project execution capabilities", achieving growth both in scale and quality 
of market development. During the Reporting Period, the Group signed EPC contracts for large scale domestic and 
overseas projects including the Sinopec Maoming Refinery Transformation and Ethylene Quality Enhancement Project and 
the Hassi Messaoud Refinery in Algeria, with newly secured contract value hitting a record high for the period, up 
42.1% year on year to RMB 71.158 billion. Our order structure continued to improve, with front end, design, and EPC 
contracts accounting for 80% of new orders, further strengthening the foundation for high quality growth. During the 
Reporting Period, the Group's overseas orders maintained rapid growth, with new contracts reaching USD 4.3 billion, a 
robust year-on-year increase of 82.7%, accounting for 43.5% of the total value of newly signed contracts. The Group's 
front end capabilities have gained broader recognition in international markets. During the Reporting Period, the Group 
signed the FEED contract for the ADNOC NGL-5 Natural Gas Condensate Processing Project in the UAE, and in July 2025 
signed a FEED+convertible EPC contract for the ACWA Yanbu large-scale green hydrogen project in Saudi Arabia. 
 
  
 
Third, we remained committed to the principle of "investor-oriented governance", focusing on capital market concerns, 
enhancing corporate governance, and driving value realization, with continued improvements in the quality of our listed 
company status. During the Reporting Period, the Group advanced its "Green and Clean" strategy by establishing Sinopec 
Environmental Technology Co., Ltd., a specialized platform for environmental management with a view to capture the 
trillion-RMB markets and contribute to protecting clear waters, blue skies, and clean soil. The Group's Wind ESG rating 
was elevated to AA, maintaining the highest level in the industry; and we won the "2024 Best ESG Practice Award" among 
Chinese listed companies from Wind. The Group's ESG case was also selected for the demonstration list by the Ministry 
of Ecology and Environment. The Board attaches great importance on shareholder returns, and shares the Company's high- 
quality development results through ongoing "share buyback + cash dividend" programs. Considering profitability, 
shareholder returns, and sustainable development needs in the future of the Company, the Board resolved to distribute 
an interim dividend of RMB 0.160 per share. The payout amount set new records since the Company's listing. 
 
  
 
Chairman of SEG, Mr. JIANG Dejun said: "as the 14th Five-Year Plan draws to a close, the Board will lead all employees 
in firmly upholding the six fundamental principles of "quality, safety, environmental protection, compliance, 
stability, and integrity". We will strengthen comprehensive risk prevention and control, and strive to improve 
operational performance and value creation, and ensure a decisive victory in concluding the 14th Five-Year Plan. The 
Company has achieved remarkable results in high-quality development since the start of the 14th Five-Year Plan, and its 
image as "industry leader in the engineering industry and a top performer in the capital market" has become 
increasingly prominent. Currently, we are actively formulating the 15th Five-Year Plan. With a global vision, we are 
building an internationalized operation as a new growth engine for the Company's high-quality development; building an 
overseas operating model that integrates "global rules with Chinese efficiency" enchancing dual strengths in 
"technology + front-end engineering" and "cost-efficient project execution" taking concrete measures to prevent major 
risks, and striving to ensure that overseas projects can be acquired, executed well, and deliver real benefits. We will 
look to the future and actively lead the industrialization of the engineering and construction industry, empowering the 
industry through "integrated collaboration, technological innovation, digital transformation, intelligent 
manufacturing, green and low-carbon development" to pave way for high-quality growth in refining and chemical 
engineering. Guided by the principles of "product excellence, brand distinction, innovation leadership, and modern 
governance", we will plan scientifically for the future, build a solid foundation for growth, accelerate our progress 
toward becoming a world class enterprise, and deliver superior returns to shareholders, contribute to society, and 
benefit our employees." 
 
  
 
Business Review and Highlights 
 
  
 
Quantitative and qualitative increase in market development 
 
  
 
During the Reporting Period, the value of new contracts signed by the Group was RMB71.158 billion, hitting a new record 
high for the same period, representing a year-on-year increase of 42.1%. Among which, the value of newly signed 
domestic contracts was approximately RMB40.182 billion, representing a year-on-year increase of 21.3%; the value of 
newly signed overseas contracts was approximately USD4.302 billion, representing a year-on-year increase of 82.7%. 
 
  
 
In the domestic market, the Group continued to maintain overall competitiveness to continuously expand strategic 
emerging business such as new technologies, new materials and new energy while enhancing its core advantages in 
traditional businesses. During the Reporting Period, the representative newly signed domestic contracts included the 
EPC contract for the Maoming Ethylene Project with a total contract value of approximately RMB11.631 billion; the EPC 
contract for certain supporting refining units of Sinopec Luoyang Million-ton Ethylene Project (the "Luoyang Ethylene 
Project") with a total contract value of approximately RMB3.291 billion; the EPC contract for Sinopec Jiujiang 1.5 
Million-ton/Year Aromatics and Refining Supporting Renovation Project (the "Jiujiang Aromatics Project") with a total 
contract value of approximately RMB1.961 billion; and the EPC contract for the MTO and olefin separation unit of China 
Energy Shenhua Baotou Coal-to-Olefin Upgrading Demonstration Project (the"Shenhua Baotou MTO") with a total contract 
value of approximately RMB1.697 billion. During the Reporting Period, the Group signed 197 new contracts in the 
emerging business fields with the value of approximately RMB7 billion. Among them, 35 contracts were awarded in the 
clean energy/new energy fields, with the value of new contracts of approximately RMB1.6 billion; 162 contracts were 
awarded in the emerging fields such as new materials, new technologies, energy conservation and environmental 
protection, with the value of new contracts of approximately RMB5.4 billion. 
 
  
 
In the overseas market, the Group strengthened the alliance with international peers and enhanced high-level mutual 
visits and promotional exchanges with strategic clients, thereby continuously expanding and optimizing our overseas 
market development. During the Reporting Period, the representative newly signed overseas contracts included the FEED + 
convertible EPC contract for the UAE NGL Project; contract for the feasibility study of the project regarding the 
production of aviation fuels from biomass using gasification in Vietnam; the EPC contract for the Hassi Refinery 
Project in Algeria with a contract value of approximately USD2.058 billion; and the EPC contract for the polyethylene 
and utilities project of the Silleno Petrochemical Complex Project in Kazakhstan (the "Kazakhstan Silleno PE & UIO 
Project") with a contract value of approximately USD1.902 billion. 
 
  
 
Steady progress in the construction of key projects 
 
  
 
 -- North Huajin United Petrochemical Fine Chemical and Raw Material Engineering Project (the "Aramco Huajin Project") 
  (EPC): the project was in the peak stage of construction and installation with an overall progress of nearly 80%. 
  
 

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