Welcome to our dedicated page for Sinopec Engr Grp news (Ticker: SENGF), a resource for investors and traders seeking the latest updates and insights on Sinopec Engr Grp stock.
Sinopec Engr Grp (SENGF) is a global leader delivering integrated engineering solutions for energy and chemical projects worldwide. This dedicated news hub provides investors and industry professionals with authoritative updates on corporate developments, strategic initiatives, and operational milestones.
Access timely updates including earnings announcements, technology innovations, major contract awards, and sustainability initiatives. Our curated collection features official press releases covering project completions, partnership agreements, and advancements in clean energy engineering solutions.
Key content areas include:
Financial updates: Quarterly results and annual reports
Operational developments: EPC project milestones and new contracts
Technical innovations: R&D breakthroughs in petrochemical engineering
Strategic moves: Global expansion and industry partnerships
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SINOPEC Engineering Group (SEG) has announced strong financial results for 2024, with operating revenue reaching RMB64.198 billion, up 13.9% year-over-year, and net profit of RMB2.474 billion, increasing 5.5%. The company achieved a significant milestone with newly signed contracts valued at RMB100.613 billion, showing a 25.4% growth.
Notable achievements include overseas new orders reaching USD5.349 billion, a 79.6% increase, and technology-related contracts worth RMB1.1 billion, growing over 30%. The company proposed a final dividend of RMB0.208 per share, bringing the total 2024 dividend to RMB0.358 per share with a 65% payout ratio - the highest since listing.
SEG's ESG performance improved with an MSCI rating upgrade to BB level, making it the highest-rated Chinese engineering company. The company successfully entered the RMB100 billion club and maintained strong growth in EPC and front-end business segments.
Sinopec Engineering Group (SEG) announced its interim results for the first half of 2024, reporting revenue of RMB28.553 billion and net profit of RMB1.319 billion. SEG recorded a significant 32.7% year-on-year increase in new contract value, totaling RMB50.066 billion. The board proposed an interim dividend of RMB0.150 per share, with a dividend payout ratio of 50%, and repurchased 13.8 million H shares for HKD67.75 million. SEG's inclusion in the Hang Seng Composite Index reflects high market recognition. Overseas contracts grew by 117.8%, exemplified by a USD900 million EPC contract with Saudi Aramco.
SEG emphasized technological innovation, applying AI and big data to engineering design, and promoting low-carbon services. The company signed RMB551 million in new technology development contracts and filed 440 new patent applications. SEG also achieved breakthroughs in new materials and green energy projects, highlighting its shift towards sustainability. SEG aims to enhance shareholder value through strategic initiatives and international operations in the second half of the year.
