Sinopec Engineering posts revenue growth on major project momentum

Sinopec Engineering reported CNY 31.56 billion ($4.39 billion) in first-half 2025 revenue, up 10.1% year-on-year, driven by large-scale petrochemical projects moving into peak construction. Net profit rose 4.8% to CNY 1.39 billion, with overseas revenue surging 92% to account for nearly a quarter of total turnover.

Petrochemicals remained the largest revenue source at 63%, while oil refining and new coal chemicals posted sharp growth. EPC contracts continued to dominate, with backlog climbing 22.9% to CNY 212.28 billion.

Despite gains, gross margin slipped to 8.2% amid settlement challenges and heightened competition, though operating cash flow swung positive at CNY 3.3 billion. The company also declared an interim dividend of CNY 0.16 per share.

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