CEC Environmental wins $9.5m PetroChina water treatment contract

CEC Environmental Protection (SZSE:300172) announced it has signed a contract with China寰球 Engineering Co., Ltd. for the Dushanzi Petrochemical TaliMu 1.2 million tons/year Phase II Ethylene Project green low-carbon desalination water station pretreatment unit and membrane treatment unit. The contract, valued at RMB 68.48 million (including tax), covers the supply of equipment for the project. This deal represents approximately 6.81% of CEC Environmental's audited revenue for 2023 and is expected to positively impact the company's future financial performance and operating results. The project involves providing pretreatment and membrane treatment units for the desalination water station. The company highlighted potential risks related to material and labor cost increases but emphasized that the contract terms outline dispute resolution mechanisms.