that the world political and economic situation is still complicated and grim. However, with the recovery of global
trade demand, the restoration of economic growth momentum, and the construction of a new domestic and international
dual-cycle development pattern, China's economic growth is expecting a continuous steady improvement in quality and
efficiency. In the future, it is predictable that the epidemic will reshape the global energy pattern, the growth rate
of crude oil demand will be weaker than supply, and the international oil price will rise to a limited margin; the
newly-built refining and chemical production capacity in China will be released intensively, the market players are
becoming diversified, the replacement of new energy is accelerated, the green and low-carbon standards are upgraded,
and opportunities and challenges coexist.
2021 is the first year of the "14th Five-Year Plan". China's energy and chemical industry is moving towards a new stage
of high-quality development. China will continue to exert its strength in accelerating energy transformation, improving
energy security, accelerating technological innovation and releasing the vitality of the industry, and will promote the
development of the industry to a higher level. Multiple petrochemical projects in the PRC continue to advance, private
enterprises keep active investment, international giants such as ExxonMobil, BASF and Saudi Aramco actively deploy
their resources in the Chinese market, and the refining and chemical engineering market remains to be the arena full of
opportunities and challenges. For the situation overseas, emerging economies and developing countries still have
greater demand for energy and basic chemical materials. With the expansion of vaccination scale, the recovery of
economy after the alleviation of global epidemic is expected to drive the overseas engineering market to revive.
In 2021, the Group will adhere to the development orientation of "Integrated Service Provider with Whole Industry Chain
and Whole Life Cycle in Energy and Chemical Industry", base itself on the energy and chemical engineering construction
industry, continuously broaden its business scope, extend its value chain, strengthen engineering innovation and value
creation, and provide customers with high-quality one-stop overall solutions. In 2021, the Group's target of domestic
new contract value is RMB49 billion, and the target of overseas new contract value is USD1.5 billion.
Summary of Financial Data and Indicators Prepared in Accordance with International Financial Reporting Standards
("IFRS")
Unit: RMB'000
Items As at 31 December As at 31 December Changes from the end of
2020 2019 2019 (%)
Total assets 71,465,327 67,873,748 5.3
Total equity attributable to equity holders of the 28,251,172 27,265,976 3.6
Company
Net assets per share attributable to equity holders of 6.38 6.16 3.6
the Company (RMB) Unit: RMB'000
For the twelve months ended 31
Items December Changes over the same period of
2019 (%)
2020 2019
Revenue 52,352,584 52,261,051 0.2
Gross profit 5,714,072 5,482,733 4.2
Operating profit 2,204,379 2,017,007 9.3
Profit before taxation 3,010,562 2,827,400 6.5
Net profit attributable to equity holders of the 2,381,905 2,183,457 9.1
Company
Basic earnings per share (RMB) 0.54 0.49 9.1
Net cash flow generated from operating activities 2,956,836 300,047 885.5
Net cash flow generated from operating activities per 0.67 0.07 885.5
share (RMB)
For the twelve months ended 31 December
Items
2020 2019
Gross profit margin (%) 10.9 10.5
Net profit margin (%) 4.6 4.2
Return on assets (%) 3.4 3.1
Return on equity (%) 8.4 8.0
Return on invested capital (%) 8.6 8.3
Items As at 31 December 2020 As at 31 December 2019
Asset-liability ratio (%) 60.5 59.8 End
This press release is issued by PRChina Limited on behalf of SINOPEC Engineering (Group) Co., Ltd.
About SINOPEC Engineering (Group) Co., Ltd.
The Group is a leading energy and chemical engineering company in the PRC with strong international competitiveness and can provide domestic and overseas clients with overall solutions for petrol refining, petrochemicals, aromatics, coal chemicals, inorganic chemicals, pharmaceutical chemicals, clean energy, storage and transportation facilities, environmental protection and energy saving, among other industry sectors. The Group is an integrated service provider for the whole industry chain and the whole life cycle in energy and chemical industry and can provide overall industry chain services including engineering consulting, technology licensing, project management contracting, financing assistance, EPC (engineering, procurement and construction) contracting, as well as design, procurement, construction and installation, lifting and transportation of large equipment, precommissioning and start-up.
After nearly 70 years of continuous development, the Group currently has an academician of the Chinese Academy of Sciences, three academicians of the Chinese Academy of Engineering and more than10,000 professionals. The Group has rich project management and implementation experience, and owns and cooperatively owns patents and know-how in core business areas. The Group has delivered on schedule hundreds of modern factories with enormous investment, complicated process, advanced technology and high quality to clients in more than 20 countries and regions around the world, established long-term and steady cooperative relationships with large energy and chemical enterprises at home and abroad, maintained an extensive and stable client base, and enjoys remarkable industrial influence and social reputation.
In the future, adhering to the development orientation of "Integrated Service Provider with Whole Industry Chain and Whole Life Cycle in Energy and Chemical Industry", the Group will base itself on the energy and chemical engineering construction industry, continuously broaden its business scope and extend its value chain, comprehensively improve the level of safe, efficient, green and lowcarbon service in the business chain through "differentiated development, international operation, digital transformation and intelligent upgrading", and create a new momentum in achieving the corporate vision of "building the world's leading technology-oriented engineering company".
Disclaimer
This press release includes "forward-looking statements". All statements, other than statements of historical facts that address activities, events or developments that the Group expects or anticipates will or may occur in the future (including but not limited to projections, targets, other estimates and business plans) are forward-looking statements. The Group's actual results or developments may differ materially from those indicated by these forward-looking statements as a result of various factors and uncertainties, including but not limited to the price fluctuation, possible changes in actual demand, foreign exchange rate, market shares, competition, environmental risks, possible changes to laws, finance and regulations, conditions of the global economy and financial markets, political risks, possible delay of projects, government approval of projects, cost estimates and other factors beyond the Group's control. In addition, the Group makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements.
Investor and Media Enquiries:
SINOPEC Engineering (Group) Co., Ltd. - Office of the Board
Liu Jingjing /Zheng Zhexia
Tel: (86) 10 5673 0523 / (86) 10 5673 0525
Email: seg.ir@sinopec.com
PRChina Limited
Alice Yip / Jack Liu / Edward Leung
Tel: (852) 2522 1838 / (852) 2522 1368
Fax: (852) 2521 9955
Email: seg@prchina.com.hk
22/03/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com
(END) Dow Jones Newswires
March 21, 2021 22:41 ET (02:41 GMT)
