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SEG announces 2015 annual results

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LNG Industry,

SINOPEC Engineering Co. Ltd. has announced its annual results for the year ended 31 March 2016.

The results highlights include:

  • During the Reporting Period, the Company's revenue was RMB45.498 billion and net profit was RMB3.318 billion. Basic earnings/share were RMB0.75.
  • The total dividend for the year will be RMB0.297/share.
  • During the Reporting Period, Revenue from the Company's EPC Contracting segment reached RMB27.839 billion, accounted for 56.5% of total revenue.
  • During the Reporting Period, the value of new contracts amounted to RMB52.676 billion. As at 31 December 2015, backlog of the Company amounted to RMB111.100 billion, representing an increase of 6.9% and 2.44 times of the total revenue in 2015.
  • During the Reporting Period, the Company signed Kuwait Oil Refining Project with a contract value of approx. USD1.7 billion. For the Company, it is the largest contract and project gained in the Middle East region as well as a milestone in establishing and strengthening its business in the Middle East market.

Over half of the overall progress of the EPC Contracting project of the receiving terminal stations of Guangxi LNG Project and the receiving terminal stations of Tianjin LNG Project have been completed. Both projects are using the Company's patented design and construction technologies, and are two significant EPC Contracting projects signed after the receiving terminal stations of Shandong LNG Project. These projects played an important role in alleviating domestic LNG demand.

Additionally, at the National Science and Technology Awards Conference held on 8 January 2016, the project "Development and Application of Packaged Technology for Efficient and Environmental-Friendly Aromatics" engaged by the Company won the 2015 National Special Award for Scientific and Technological Progress.

Edited from press release by

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