Sinopec Engineering announces surge in new contract value

SINOPEC Engineering (Group) Co., Ltd. (HKEX:2386) announced a substantial increase in its new contract value and backlog. For the three months ended March 31, 2025, the total value of new contracts reached RMB44.373 billion, a 31.4% rise compared to RMB33.764 billion in the same period of 2024. The company's backlog as of March 31, 2025, stood at RMB201.19 billion, representing a 16.5% increase from RMB172.677 billion at the end of 2024. Key new contracts include a major Refining Upgrading and Ethylene Project with Sinopec Maoming Petrochemical (RMB11.631 billion) and an aromatics and refining project with Sinopec Jiujiang Company (RMB1.961 billion). The company also secured an international project, the Hassi Messaoud Refinery Project in Algeria valued at USD2.058 billion.