2024 Annual Report 2024 年報 公司資料 2 惠生工程技術服務有限公司 2024年年報 中國領先的能源化工 工程EPC服務和技術整合 解決方案提供商 工程 惠生 目 錄 3 公司資料 6 財務概要 9 業務概覽 20 管理層討論與分析 31 董事及高級管理人員 37 董事會報告 55 企業管治報告 71 獨立核數師報告 80 綜合損益表 81 綜合全面收益表 82 綜合財務狀況表 84 綜合權益變動表 85 綜合現金流量表 87 財務報表附註 惠生工程技術服務有限公司 2024年年報 �司�� 董事會 執行董事 周宏亮先生 （主席兼行政總裁） (1) 鄭世鋒先生 李盾先生 （首席財務官) 非執行董事 劉洪鈞先生(1) 獨立非執行董事 李磊先生 湯世生先生 馮國華先生 郭汝倩女士 審核委員會 李磊先生 （主席） 馮國華先生 湯世生先生 郭汝倩女士(2) 提名委員會 湯世生先生 （主席） 馮國華先生 李磊先生 郭汝倩女士(2) 薪酬委員會 馮國華先生 （主席） 李磊先生 湯世生先生 郭汝倩女士(2) 全球總部、中國主要營業地點及總辦事處 中國 上海市 浦東新區 張江高科技園區 中科路633號 ...

那么魁省工程去年一年的经营情况主要是新签订单108.7亿销售收入56.5亿净利润1.3亿这也是我们第五年连续魁省四年以后的第一年的盈利然后在市场方面我们主要列出国内开拓海外市场 那么新签订单是108.7亿那么海外主要有尼日利亚的PDH加PP项目的费贷合同费贷合同第二个是在新能源方面我们拿到了土耳其生物质甲醛项目的技术服务合同那么国内主要是目前最大的MTO是广西华裔能化的100万吨甲醛制锡锌工程承包合同 关山电厂的烟气二氧化碳普洁是甲层的换生计师范帮助还有一个是江苏某绿色能源大股项目的技术服务合同那么全球合作版图向众生托转绿色能源革命破解开心那么技术创新这一步新成果2024年新增专利申请15项新增授权专利13项 参与了两项的国家级的重点研发的计划项目一个是二氧化碳加氢高选择性制氢质方钉关键技术第二项是生物质化学链气化制气材油关键技术示范第三方面聚焦新能源绿色低碳技术化工新材料的技术开发和工程化多项技术进入工艺示范和工程转化阶段 下面图示上就是以西法的MMA示范装置二氧化碳加氢是甲醛的示范项目还有3000灯每年的PGA充饰场对新能源技术合作方面我们与清辉能源进行合作对自制交换膜电解水自清领域开展了深度合作形成了P ...

国内领先的能源EPC(设计、采购及施工)服务和技术整合解决方案提供商，惠生工程(2236.HK)近期发布 2024年全年业绩。全年收入约56.5亿元，同比增长47.0%，结束过去下降趋势；归母净利润1.4亿元，同 比扭亏，整体业绩呈现强势反转信号。 核心项目发力，现金流大幅改善 2024年，惠生工程持续聚焦主营业务和优势领域，乙烯与裂解炉、丙烷脱氢(「PDH」)、甲醇制烯烃 (「MTO」)、合成氨等关键产品线保持稳健发展态势。业务板块方面，核心石化板块实现收入约46.6亿 元，同比增长54.7%；煤化工板块收入约8.2亿元，增长33.8%；此外，新能源板块取得突破，录得约 2,680万元收入。 收入端和盈利端明显改善，全年经营活动现金流净额约30.9亿元，较2023年同期的6.5亿大幅增长。截至 2024年底，惠生工程在手现金也激增至38.0亿元，较2023年同期9.0亿增长约322%。 新签订单激增25倍，人才队伍加速扩充 新签订单方面合计约108.7亿元，同比增长2,563.6%，增幅相当喜人。目前公司未完成合同总值约257.2 亿元，保障了未来几年的业绩增长。 业务端积极开拓，人才队伍方面也在加速扩充。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任 何 損 失 承 擔 任 何 責 任。 WISON ENGINEERING SERVICES CO. LTD. 惠生工程技術服務有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2236） 截 至2024年12月31日止年度之 年度業績公告 摘 要： – 1 – • 截 至2024年12月31日 止 年 度，收 益 約 為 人 民 幣5,647,335,000元，較 2023年約人民幣3,842,719,000元增加47.0%。 • 截 至2024年12月31日 止 年 度， 毛 利 約 為 人 民 幣445,216,000元， 較 2023年約人民幣227,202,000元增加96.0%。 • 截 至2024年12月31日 止 年 度， 利 潤 約 為 人 民 幣134,673,000元， 而 2023年虧損約為人民幣198,378,0 ...

惠生工程技術服務有限公司 ( 於開曼群島註冊成立的有限公司 股份代購, 2236) wison 0 中 報 2024 1D wison I (860) 川口Via U. C 中國領先的能源化 程EPC 服務和技術整合 解決方案提供商 H 0000 0 目 錄 34 中期簡明綜合全面收益表 42 中期簡明綜合財務資料附註 39 42 中期簡明綜合財務資料附註 37 39 中期簡明綜合現金流量表 35 37 中期簡明綜合權益變動表 34 35 中期簡明綜合財務狀況表 31 33 中期簡明綜合損益表 31 中期財務資料之審閱報告 27 30 企業管治及其他資料 4 27 權益披露 2 4 管理層討論與分析 2 公司資料 馮國華先生 李磊先生 | --- | --- | |--------------------------|-------------------------------------------| | | 惠生工程技術服務有限公司 • 2024年中期報告 | | | | | | 公司資料 | | 董事會 | 薪酬委員會 | | 執行董事 | 馮國華先生 (主席) | | 周宏亮先生 (行政總裁) | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 表 明 概 不 就 因 本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損 失 承 擔 任 何 責 任。 WISON ENGINEERING SERVICES CO. LTD. 惠生工程技術服務有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2236） 截 至2024年6月30日止六個月 之中期業績公告 及 委任執行董事 | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 摘 要： | | • | 截 至 2024 年 6 月 30 日 止 六 個 月，收 益 約 為 人 ...

Financial Performance - The company's gross profit margin for the year was 5.9%, compared to a gross profit margin of -4.5% in the same period last year[22]. - Total revenue for the year ended December 31, 2023, was RMB 3,842.7 million, a decrease of 17.4% from RMB 4,658.8 million in 2022[50]. - Gross profit for the same period was RMB 227.2 million, compared to a gross loss of RMB 208.3 million in 2022, indicating a significant recovery[50]. - The net loss for the year was RMB 198.4 million, a reduction from a net loss of RMB 1,197.4 million in the previous year, reflecting improved financial performance[50]. - Cash flow from operating activities was RMB 651.5 million, a turnaround from a negative cash flow of RMB 594.9 million in 2022[37]. - The company's net loss for the year significantly decreased by 83.4% to RMB 198.4 million from RMB 1,197.4 million in the previous year[58]. - Total comprehensive income for the year amounted to RMB (126.8) million, compared to RMB (1,069.7) million in 2022[58]. Assets and Liabilities - As of December 31, 2023, the company's trade receivables and contract assets amounted to RMB 1,070,771,000 and RMB 2,171,402,000, respectively[6]. - Non-current assets totaled RMB 3,982.9 million, slightly down from RMB 4,037.5 million in 2022[55]. - Current assets increased to RMB 5,476.8 million from RMB 4,906.1 million in the previous year[55]. - Current liabilities rose to RMB 5,188.3 million, up from RMB 4,797.8 million in 2022[55]. - The company's cash and bank balances increased to RMB 901.8 million from RMB 383.6 million in the previous year[55]. - Non-current liabilities totaled RMB 1,822,674 thousand as of December 31, 2023, an increase of 16% from RMB 1,570,123 thousand in 2022[93]. - The net assets of the company were RMB 2,448,783 thousand, down from RMB 2,575,601 thousand in the previous year, reflecting a decrease of approximately 5%[93]. - Total equity attributable to the owners of the parent company was RMB 2,463,491 thousand, a decrease of 5% from RMB 2,588,053 thousand in 2022[93]. Revenue Recognition and Impairment - The company has implemented a percentage-of-completion method for revenue recognition, which involves significant management estimates regarding contract costs and completion[2]. - The company made impairment provisions of RMB 597,055,000 for trade receivables and RMB 448,410,000 for contract assets as of December 31, 2023[6]. - The expected credit loss assessment for trade receivables involves significant judgments and estimates made by management, including past payment records and forward-looking factors[6]. - The company has disclosed relevant information regarding revenue recognition and impairment provisions in the notes to the consolidated financial statements[6]. Operational Efficiency - The company has seen a reduction in the impact of additional labor costs and project costs, leading to a gradual recovery of gross profit margin to normal levels[24]. - Sales and distribution expenses decreased by 49.1% to RMB 28.2 million from RMB 55.4 million in the previous year, focusing marketing resources on high-competitive projects[33]. - Other expenses decreased by 32.2% to RMB 170.5 million from RMB 251.6 million, primarily due to impairment provisions related to specific EPC projects in the previous year[35]. - The company’s financial and contract asset impairment losses were reduced to RMB 32.5 million from RMB 556.8 million in the previous year, indicating improved asset management[50]. - The company’s basic and diluted loss per share improved to RMB (4.81) from RMB (29.10) in the previous year, reflecting better operational efficiency[50]. Corporate Governance and Management - The group has established and implemented an environmental management system in accordance with GB/T 24001–2004/ISO14001:2004 standards, receiving certification from a third-party organization[78]. - The group actively promotes a "green engineering" development strategy, adhering strictly to environmental laws and regulations[78]. - The group has a formal and transparent policy for determining the remuneration of individual directors and employees, which is crucial for attracting and retaining skilled personnel[82]. - All executive directors have entered into three-year service contracts, with provisions for termination with written notice of no less than six months[82]. - The board believes that attracting, motivating, and retaining skilled and experienced personnel is significant for the long-term success of the group[82]. - The group has received annual confirmations regarding the independence of its independent non-executive directors as per the Hong Kong Stock Exchange listing rules[84]. - The group did not engage in any arrangements during the year that would allow directors or key executives to acquire rights to purchase shares or bonds of the company[84]. Shareholder Information - The shareholding structure indicates that Wison Holdings (Group) Limited holds 75.82% of the company’s shares[119]. - The executive director Zhou Hongliang holds 3,250,000 shares, representing 0.08% of the company[114]. - The executive director Zheng Shifeng holds 2,250,000 shares, representing 0.06% of the company[114]. - The company has maintained a public float of 21.87% as of the report date, complying with the minimum public shareholding requirement[193]. Contracts and Agreements - The company provides integrated services covering the entire project cycle, including feasibility studies, consulting services, proprietary technology, design, engineering, procurement, and construction management[97]. - The total contract value for the Wison Engineering's EPCIC phase tops out at RMB 120,000,000, covering various costs including employee wages and management fees[134]. - Wison Engineering expects to receive a total amount of RMB 121,500,000 from the EPCIC phase contract, including a performance bonus of up to RMB 1,500,000 for efficient project delivery[134]. - The anticipated revenue from the top surface engineering design contract is RMB 37,422,000 as of December 31, 2023[131]. - The total expected receivable amount from the top surface engineering design contract will not exceed RMB 45,000,000[131]. - The engineering design framework agreement is set to expire on December 31, 2025, with annual transaction limits of RMB 260 million for the years ending December 31, 2023, 2024, and 2025[191]. Risk Management - The group faces multiple risks and uncertainties that may impact its business, financial condition, or operating performance[78]. - The group’s governance structure emphasizes effective risk management and internal control systems, ensuring transparency in reporting and compliance with relevant rules and regulations[180].

| --- | --- | |---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | 摘 要： | | | • | 截 至 2023 年 12 月 31 日 止 年 度，收 益 約 為 人 民 幣 3,842,719,000 元，比 2022 年收益約人民幣 4,658,780,000 元減少 17.5% 。 | | • • | 截 至 2023 年 12 月 31 日 止 年 度， 毛 利 約 為 人 民 幣 227,202,000 元， 而 2022 年毛損約人民幣 208,300,000 元， 毛 利 同 期 增 加 約 人 民 幣 435,5 ...

Financial Performance - Revenue for the first half of 2023 was approximately RMB 1,893.6 million, a decrease of 14.4% compared to the same period in 2022[109] - Gross profit for the first half of 2023 was approximately RMB 144.1 million, a significant improvement from a gross loss of RMB 12.5 million in the same period in 2022[109] - Revenue for the period decreased by 14.4% to RMB 1,893.6 million compared to RMB 2,211.0 million in the same period last year[172] - EPC revenue decreased by 17.9% to RMB 1,748.4 million, with a gross margin of 5.7%, up from -1.5% in the previous year[173] - Refining business revenue increased by 19.0%, supported by the completion phase of the Abu Dhabi refining project[174] - Coal chemical business revenue rose by 5.7%, remaining stable compared to the previous year[195] - Other income and gains decreased by 6.4% to RMB 91.2 million from RMB 97.4 million[179] - Sales and distribution expenses decreased by 21.7% to RMB 20.5 million due to focused marketing efforts on high-competitive projects[180] - R&D costs decreased to RMB 58.7 million from RMB 76.0 million in the previous year[181] - Total other expenses decreased by 6.3% to RMB 78.2 million from RMB 83.5 million[199] Cost and Expense Management - The cost of services provided decreased to RMB 1,749,563 thousand in the first half of 2023, down from RMB 2,223,441 thousand in the same period of 2022, reflecting a 21.3% decline[3] - R&D expenses decreased to RMB 58,708 thousand in the first half of 2023, compared to RMB 75,988 thousand in the same period of 2022, a 22.7% reduction[3] - Administrative expenses increased by 2.2% to RMB 119.8 million compared to RMB 117.2 million in the same period last year[64] - Financing costs rose by 13.7% to RMB 51.3 million, primarily due to increased interest expenses related to payables[69] Cash and Bank Balances - Cash and bank balances increased to RMB 1,207,137 thousand as of June 30, 2023, compared to RMB 663,242 thousand as of December 31, 2022, an 82% increase[21] - The company's cash and bank balances denominated in RMB amounted to RMB 1,105,529 thousand as of June 30, 2023, up from RMB 602,159 thousand as of December 31, 2022, an 83.6% increase[24] - The company's cash and cash equivalents (unsecured and unfrozen) increased to RMB 748,724 thousand as of June 30, 2023, up from RMB 347,972 thousand as of December 31, 2022, a 115.2% increase[21] - Bank balances and fixed deposits amounted to RMB 7,141,000 as of June 30, 2023, a decrease from RMB 13,880,000 as of December 31, 2022, due to collateral for import equipment financing[38] Debt and Borrowings - Bank loans due within one year or on demand decreased to RMB 561,093 thousand as of June 30, 2023, down from RMB 1,187,632 thousand as of December 31, 2022, a 52.7% reduction[28] - Bank loans due within one year (secured) amounted to RMB 561,093, while long-term bank loans (secured) due after one year were RMB 1,150,593[43][44] - The company's interest-bearing bank and other borrowings totaled RMB 1,150.6 million as of June 30, 2023[189] - Interest-bearing bank and other borrowings ranged from 3.70% to 5.88% during the six months ended June 30, 2023[45] Project Progress and Completion - The Thailand natural gas-to-hydrogen project achieved 86% completion, with 73% of equipment and materials delivered and 17% of instrumentation bridge installation completed[58] - The Shandong Binhu New Materials C3C4 comprehensive utilization project successfully started production, yielding high-quality propylene with a concentration exceeding 99.6%[85] - The PGA pilot plant, in collaboration with Inner Mongolia Rongxin Chemical, successfully started trial production in July 2023 and is expected to complete pilot testing by the end of the year[100] - The overall progress of the Xinjiang Weigerui project reached 97.71%, with the first process unit achieving mechanical completion on May 15, 2023[89] - The Saudi Aramco DPCU project reached 54% overall progress, with all equipment and materials ordered and structural steel modules arriving[91] - The Shandong Jinhai Chemical 1 million tons/year light hydrocarbon comprehensive utilization project successfully started production on March 4, 2023, with stable operation of the HDPE and butadiene units[112] - The Fujian Shenyuan Phase II synthetic ammonia hydrogen production project was successfully put into operation by the end of June 2023, with performance assessment completed[113] - The Henan Shenma hydrogen ammonia project achieved high-standard intermediate handover on July 5, 2023, and is currently assisting the owner in production preparation[114] - The Panjin Sanli MMA project has completed 90% of model review conditions, with 75% of storage tank installation completed and 348 tons of pipe rack steel structure installed[116] - The Wanhua Chemical 1.2 million tons/year ethylene cracking furnace project has achieved 17.9% overall progress, with 70% design completion and 7 furnace radiation chambers installed[117] - The Qatar EPC4 sulfur treatment project has achieved 15.62% overall progress, with 30% model review passed and 4 contractor interviews completed in August 2023[118] - The Saudi FARABI Lab4 project has achieved 4.42% overall progress, with HAZOP review completed and civil bidding finalized[120] - The company successfully completed intermediate handover and startup for 3 EPC projects, including the Quanzhou Guoheng 660,000 tons/year PDH heater project, and achieved safe startup for 6 projects, including the Dongming Petrochemical 1 million tons/year light hydrocarbon utilization project[121] Contracts and New Business - The company secured new contracts worth approximately RMB 251.3 million in the first half of 2023[109] - New contracts signed in H1 2023 totaled approximately RMB 270 million, lower than expected due to delayed customer investment decisions[153] - The company secured the PDP+FEED task for the Russian CIC ethylene project in H1 2023, which is expected to positively impact multiple ethylene cracking furnace and polyolefin projects being tracked[128] Regional Revenue - Middle East region revenue increased to RMB 375.4 million, accounting for 19.8% of total revenue in H1 2023, up from 7.3% in H1 2022[151] - Southeast Asia region revenue surged to RMB 358.5 million, representing 18.9% of total revenue in H1 2023, compared to 0.7% in H1 2022[151] - Overseas project revenue accounted for 41.9% of total revenue, up from 12.0% in the previous year, driven by EPC projects in the Middle East and Southeast Asia[197] Innovation and R&D - The company has developed a new generation of energy-saving butene oxidative dehydrogenation catalyst and reaction technology, reducing energy consumption by 30%, wastewater by 40%, and production cost by approximately RMB 1,400 per ton of butadiene[131] - The company has added 7 new authorized patents and 4 new patent applications, strengthening its intellectual property and technical reserves[133] - The company is focusing on innovation, strengthening independent R&D, and expanding cooperation with global patent holders in new energy and materials[142] Safety and Quality Management - The company achieved 7,402,174 safe man-hours across domestic and international projects in the first half of 2023, with all HSE management indicators within the target range[94] - The welding pass rate, inspection and test plan (ITP) control point acceptance rate, and material acceptance rate for projects under construction in the first half of 2023 all exceeded 99%[96] - The company updated its public safety emergency plans based on the 2023 Overseas Public Safety Comprehensive Assessment Report to strengthen risk control in overseas operations[94] Asset and Property Management - The fair value of buildings and leased land in mainland China was RMB 3,442,632 thousand as of June 30, 2023, slightly down from RMB 3,494,142 thousand as of December 31, 2022[30] - The weighted average market daily rent for buildings and leased land in mainland China was RMB 5.91 per square meter as of 2022, with a long-term vacancy rate of 4% and a yield rate of 4%[18] Trade Receivables and Impairment - Trade receivables impairment increased to RMB 50,192 thousand in the first half of 2023, up from RMB 42,956 thousand in the same period of 2022, a 16.8% rise[3] - Trade receivables from related companies were RMB 2,898,696 as of June 30, 2023, with a decrease in non-current portions to RMB 573,813 from RMB 874,098 as of December 31, 2022[41] Dividend Policy - The company did not declare, pay, or recommend any interim dividends for the six months ended June 30, 2023, consistent with the same period in 2022[7] Digital and Project Management - The company is advancing digital project management systems, with the Engineering Data Warehouse (EDW) achieving 100% accuracy in attribute matching[164] Strategic Focus and Future Plans - The company is committed to enhancing its comprehensive competitiveness by optimizing design to reduce project costs and establishing a global unified procurement platform[143] - The company is closely monitoring market conditions and will adjust its strategies and operations to improve efficiency and profitability[145] - The company has completed feasibility studies for several wind-solar-hydrogen and coal chemical integration projects, aiming for implementation within the year[137] - The company's technical and design team is expected to reach 1,000 people by the end of the year, with more international project-experienced professionals being recruited[139]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 表 明 概 不 就 因 本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損 失 承 擔 任 何 責 任。 WISON ENGINEERING SERVICES CO. LTD. 惠生工程技術服務有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2236） 截 至2023年6月30日止六個月 之中期業績公告 | --- | --- | |-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 摘 要： | | • | 截 至 2023 年 6 月 30 日 止 六 個 月，收 益 約 為 人 民 幣 1,893,621,00 ...