Sinopec Engineering Group Co. Ltd. on Sunday reported CNY 31.56 billion ($4.39 billion) in income for the primary half of 2025, up 10.1 % from the primary six months of 2024.
The rise was “primarily on account of the truth that large-scale initiatives comparable to Aramco Huajin, SABIC Mangguo Ethylene, Jihua Transformation and Upgrading and Saudi Riyas entered development or settlement peak”, stated the report on Sinopec Engineering’s web site.
The petrochemical sector accounted for 63 % of the full income of the power and chemical engineering multinational, majority-owned by the state’s China Petrochemical Corp., for January-June 2025. The sector logged a 0.3 % year-on-year improve in income.
- Advertisement -
Oil refining contributed 18.1 % of complete income. Oil refining income surged 85.9 %.
The brand new coal chemical substances sector accounted for 4.1 % of complete income. Contribution from the sector grew 389.1 %. The principle contributing initiatives included Lianhong New Supplies, China Coal Shaanxi Vitality Coal Deep Processing and Internal Mongolia Rongxin Chemical Olefin.
Storage, transport and others accounted for 14.8 % of complete income, their contribution falling 15.1 %.
By phase, engineering, procurement and development (EPC) contracts accounted for 55.7 % of complete income. EPC contracts income elevated 24.5 %.
Development accounted for 37.6 % of complete income, its contribution sliding 1.6 %.
Engineering, consulting and licensing accounted for five.6 % of complete income. Section contribution elevated 24.5 % “because of the improve in enterprise quantity”, Sinopec Engineering stated.
Tools manufacturing accounted for 1.1 % of complete income, its contribution inching up 1.3 %.
By area, China accounted for 76.5 % of complete income. Home income dropped 2.6 %. Abroad actions accounted for 23.5 % of complete income. Abroad income elevated 92 %.
Backlog on the finish of 1H 2025 was CNY 212.28 billion, up 22.9 % year-over-year. The majority was from EPC contracting (CNY163.88 billion) by phase and petrochemicals (CNY101.93 billion) by sector. China accounted for CNY 124.42 billion of backlog.
Web revenue totaled CNY 1.39 billion, up 4.8 % due to “synergistic features throughout engineering, expertise and capital”, the corporate stated. Primary earnings per share landed at CNY 0.32.
Sinopec Engineering, headquartered in Beijing however listed in Hong Kong, declared an interim dividend of CNY 0.16 per share, payable by October 27 to shareholders as of the shut of enterprise on September 9.
Gross revenue and working revenue elevated 3.6 % and 23.8 % to CNY 2.6 billion and CNY 1.16 billion respectively. Revenue earlier than taxation elevated 5.9 % to CNY 1.61 billion.
“Gross revenue margin decreased from 8.8 % for a similar interval final 12 months to eight.2 %, which was primarily because of the settlement difficulties of some development initiatives and intensified market competitors of sure enterprise operations”, Sinopec Engineering stated.
Web money circulate from working actions was CNY 3.3 billion for 1H 2025, in comparison with detrimental CNY 4.16 billion for 1H 2024.
“In 2025, the transformation and upgrading of China’s home power and chemical trade have accelerated, and the extension and deepening of the economic chain have been deepened”, Sinopec Engineering stated. “Oil-to-chemical merchandise, oil-to-specialty merchandise and high-end transformation have grow to be key improvement traits, offering robust help for the basics of the Group’s home market.
“On the similar time, new improvement paths comparable to CCUS (carbon seize, utilization and storage), zero-carbon power substitution, renewal of outdated gear and innovation in inexperienced and low-carbon applied sciences continued to inject new momentum into the Group’s improvement.
“Globally, the Gulf area of the Center East stays the most important marketplace for oil, fuel and refining and chemical capability growth.
“Central Asia has robust complementarity with China when it comes to manufacturing capability, capital, and engineering applied sciences, resulting in extra energetic funding in petrochemicals and pure fuel chemical substances.
“The speedy financial development in Southeast Asia has pushed the growth of demand for refined oil, pure fuel and chemical merchandise; and financial improvement and industrialization wants in Africa and Latin America provide vital market potential”.
Sinopec Engineering ended 1H 2025 with CNY 80.7 billion in present property and CNY 54.4 billion in present liabilities.
To contact the writer, e-mail jov.onsat@rigzone.com
