SINOPEC Engineering Reports Record 2024 Financial Results

SINOPEC Engineering (Group) Co., Ltd. (SEG) disclosed its 2024 financial outcomes, noting a considerable rise in both revenue and new contracts. Operating revenue reached RMB64.198 billion, a 13.9% increase from the previous year, while net profit rose by 5.5% to RMB2.474 billion. Newly signed contracts surpassed RMB100 billion, marking significant growth of 25.4%.

SEG boosted dividends to RMB0.358 per share, reflecting a 65% payout ratio, the highest since its listing. The firm aims to maintain leading positions in both engineering and capital markets, focusing on enhancing service capabilities and technological innovation. Domestic and international markets experienced robust contract growth, with overseas contracts seeing a sharp 79.6% increase.

The report highlighted SEG's commitment to integrating advanced technologies and artificial intelligence to improve operational efficiencies. The company plans to continue its strategic approach to manage risks and foster sustainable growth amidst evolving market conditions.