SINOPEC SEG(02386)

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中石化广州工程等申请轻烃转化产物分馏系统及方法专利,降低装置建设成本
Sou Hu Cai Jing· 2025-07-29 01:47
中石化炼化工程(集团)股份有限公司,成立于2007年,位于北京市,是一家以从事水利管理业为主的 企业。企业注册资本441854.35万人民币。通过天眼查大数据分析,中石化炼化工程(集团)股份有限 公司共对外投资了12家企业,参与招投标项目63次,专利信息5000条,此外企业还拥有行政许可4个。 来源:金融界 金融界2025年7月29日消息,国家知识产权局信息显示,中石化广州工程有限公司;中石化炼化工程(集 团)股份有限公司申请一项名为"一种轻烃转化产物分馏系统及方法"的专利,公开号CN120365950A, 申请日期为2025年04月。 专利摘要显示,本发明公开了一种轻烃转化产物分馏系统及方法。分馏系统包括吸收塔、油气分离罐、 解吸塔、稳定塔、脱戊烷塔和压缩机系统;压缩机系统进口与轻烃转化气相反应产物进口管线连接,吸 收塔上部与轻烃转化液相反应产物进口管线连接,吸收塔顶部连接吸收塔顶气排出管线,吸收塔、油气 分离罐、解吸塔、稳定塔、脱戊烷塔依次连接,稳定塔顶部连接液化气排出管线,稳定塔底部管线分为 两路,一路与吸收塔上部连接,另一路连接C7+馏分排出管线;脱戊烷塔顶部连接C5馏分排出管线,脱 戊烷塔底部连接C ...
中石化申请高收率生产低硫焦系统及方法专利,低硫焦的收率高且性能好
Sou Hu Cai Jing· 2025-07-12 07:23
Group 1 - China Petroleum & Chemical Corporation (Sinopec) has applied for a patent for a system and method to produce low-sulfur coke with high yield, published as CN120290217A, with an application date of January 2024 [1] - The patent involves a heating furnace with at least one convection chamber and one radiation chamber, a reactor, a buffer tank, and at least one coke tower, designed to mix ethylene tar and catalytic oil slurry for efficient processing [1] Group 2 - China Petroleum & Chemical Corporation was established in 2000, located in Beijing, primarily engaged in oil and gas extraction, with a registered capital of approximately 12.17 billion RMB [2] - Sinopec has invested in 263 companies, participated in 5,000 bidding projects, and holds 5000 patent records along with 45 trademark records [2] - Sinopec Engineering Group Co., Ltd. was founded in 2007, also based in Beijing, primarily involved in water management, with a registered capital of approximately 441.85 million RMB [2] - Sinopec Engineering has invested in 12 companies, participated in 63 bidding projects, and holds 5000 patent records along with 4 administrative licenses [2]
中石化取得新型旋流急冷箱专利
Sou Hu Cai Jing· 2025-07-08 10:23
Core Insights - China Petroleum & Chemical Corporation (Sinopec) and its subsidiaries have recently obtained a patent for a "new type of cyclone quenching box," with the patent number CN116492936B, applied for on April 2023 [1][2] Company Summaries - **China Petroleum & Chemical Corporation (Sinopec)** - Established in 2000, located in Beijing, primarily engaged in oil and gas extraction - Registered capital of approximately 12.17 billion RMB - Has invested in 263 companies and participated in 5,000 bidding projects - Holds 45 trademark registrations and 5,000 patents, along with 40 administrative licenses [1] - **Sinopec Engineering (Group) Co., Ltd.** - Established in 2007, located in Beijing, primarily engaged in water management - Registered capital of approximately 441.85 million RMB - Has invested in 12 companies and participated in 63 bidding projects - Holds 5,000 patents and 4 administrative licenses [1] - **Sinopec Guangzhou Engineering Co., Ltd.** - Established in 1998, located in Guangzhou, primarily engaged in professional technical services - Registered capital of 30 million RMB - Has invested in 2 companies and participated in 4,093 bidding projects - Holds 4 trademark registrations, 845 patents, and 21 administrative licenses [2] - **Sinopec Hainan Refining & Chemical Co., Ltd.** - Established in 2003, located in Haikou, primarily engaged in oil, coal, and other fuel processing - Registered capital of approximately 960.62 million RMB - Has invested in 4 companies and participated in 5,000 bidding projects - Holds 24 patents and an extensive number of 16,217 administrative licenses [2]
新疆煤化工正当其时,关注产业链三大投资方向
ZHONGTAI SECURITIES· 2025-05-11 04:25
Investment Rating - The report maintains an "Overweight" rating for the industry [4] Core Insights - The modern coal chemical industry is experiencing a development opportunity period, driven by industrial upgrades and energy security [10] - Xinjiang is emerging as a strong coal chemical base due to its abundant resources, favorable policies, and significant investment in coal chemical projects [10][28] - The report identifies three major investment directions within the coal chemical industry: equipment providers, project owners, and service providers [9][10] Summary by Sections 1. Modern Coal Chemical Industry Development - Modern coal chemical processes produce alternative petrochemical products and clean fuels, including coal-to-olefins and coal-to-oil [17] - The industry is essential for ensuring national energy security, given China's reliance on coal as a primary energy source [22][26] 2. Xinjiang's Coal Chemical Industry - Xinjiang has rich coal reserves, with a total resource of 2.19 trillion tons, accounting for about 40% of the national total [28] - The region's coal quality is high, primarily consisting of low-sulfur and high-calorific value coal types, making it suitable for large-scale coal chemical projects [33] - Favorable national policies have positioned Xinjiang as a key coal chemical base, with over 800 billion yuan in planned investments for various coal chemical projects [45] 3. Economic Competitiveness - Xinjiang's coal-to-gas production costs are significantly lower than those in Inner Mongolia and Shaanxi, with costs estimated at 1.28 yuan per cubic meter compared to 2.06 yuan and 2.68 yuan, respectively [53] - The report highlights the cost advantages of Xinjiang's coal resources, with pithead prices for coal being substantially lower than in other regions [34][53] 4. Investment Opportunities - Recommended companies for investment include those involved in engineering design, total contracting, and equipment supply, such as Sandi Chemical, China National Chemical, and Donghua Technology [9] - Project owners benefiting from Xinjiang's cost advantages include Baofeng Energy and Guanghui Energy [9] - Service providers in the coal chemical sector, such as Guangdong Hongda and Xuefeng Technology, are also highlighted as potential investment opportunities [9]
中金:维持中石化炼化工程跑赢行业评级 目标价6.10港元
Zhi Tong Cai Jing· 2025-04-21 08:21
Core Viewpoint - The report maintains the profit forecast for Sinopec Engineering (02386) for 2025-26, with the current stock price trading at 8x/7x P/E for those years, attributing recent stock price pullbacks to international oil price fluctuations [1] Group 1: Company Performance - In Q1 2025, the company signed new contracts worth 44.37 billion yuan, a year-on-year increase of 31.4%, with a backlog of 201.19 billion yuan, up 16.5% quarter-on-quarter [2] - The company aims for total new orders of 100 billion yuan in 2025, maintaining the same level as 2024, with 63 billion yuan from domestic and 5 billion USD from international markets [3] Group 2: Market Opportunities - The company has secured significant new contracts, including a 11.63 billion yuan project for the Maoming Petrochemical refinery upgrade and a 2.06 billion USD project in Algeria [2] - The company’s overseas revenue share increased from 10% to 17% in FY24, with a target of over 40% for new orders in FY25, indicating a strategic focus on emerging market opportunities [4] Group 3: Financial Health - The company has over 20 billion yuan in cash on hand, with FY24 financial income reaching 1.2 billion yuan, a nearly 10% year-on-year increase, driven by foreign exchange gains [5] - The company’s capital expenditure for 2025 is planned at 164.3 billion yuan, with 67.2 billion yuan allocated to the refining sector, supporting order and workload growth [3]
中石化炼化工程:2024年报点评:24年归母净利润同比增长5.5%,新签合同额再创新高-20250318
EBSCN· 2025-03-18 01:33
2025 年 3 月 18 日 公司研究 24 年归母净利润同比增长 5.5%,新签合同额再创新高 ——中石化炼化工程(2386.HK)2024 年报点评 买入(维持) 当前价:5.63 港元 作者 分析师:赵乃迪 执业证书编号:S0930517050005 010-57378026 zhaond@ebscn.com 分析师:蔡嘉豪 执业证书编号:S0930523070003 021-52523800 caijiahao@ebscn.com 分析师:王礼沫 执业证书编号:S0930524040002 010-56513142 wanglimo@ebscn.com | 市场数据 | | | --- | --- | | 总股本(亿股) | 43.98 | | 总市值(亿港元): | 247.60 | | 一年最低/最高(港元): | 4.28/6.87 | | 近 3 月换手率: | 46.1 | 股价相对走势 | 收益表现 | | | | | --- | --- | --- | --- | | % | 1M | 3M | 1Y | | 相对 | -14.7 | -35.3 | -3.7 | | 绝对 | -8. ...
中石化炼化工程(02386):2024年报点评:24年归母净利润同比增长5.5%,新签合同额再创新高
EBSCN· 2025-03-18 01:30
2025 年 3 月 18 日 公司研究 24 年归母净利润同比增长 5.5%,新签合同额再创新高 ——中石化炼化工程(2386.HK)2024 年报点评 买入(维持) 当前价:5.63 港元 作者 分析师:赵乃迪 执业证书编号:S0930517050005 010-57378026 zhaond@ebscn.com 分析师:蔡嘉豪 执业证书编号:S0930523070003 021-52523800 caijiahao@ebscn.com 分析师:王礼沫 执业证书编号:S0930524040002 010-56513142 wanglimo@ebscn.com | 市场数据 | | | --- | --- | | 总股本(亿股) | 43.98 | | 总市值(亿港元): | 247.60 | | 一年最低/最高(港元): | 4.28/6.87 | | 近 3 月换手率: | 46.1 | 股价相对走势 | 收益表现 | | | | | --- | --- | --- | --- | | % | 1M | 3M | 1Y | | 相对 | -14.7 | -35.3 | -3.7 | | 绝对 | -8. ...
中石化炼化工程:年报点评:业绩符合预期,新签合同表现亮眼-20250317
Tianfeng Securities· 2025-03-17 13:53
Investment Rating - The report maintains a "Buy" rating for Sinopec Engineering (02386) with a target price yet to be specified [4]. Core Insights - The company achieved a revenue of 64.198 billion RMB in 2024, representing a year-on-year increase of 13.9%, and a net profit of 2.466 billion RMB, up 5.5% year-on-year. The gross margin stands at 8.3%, net margin at 3.9%, and return on assets at 3% [1]. - The total new contracts signed in 2024 reached 100.613 billion RMB, marking a 25.4% increase year-on-year, with domestic contracts at approximately 62.102 billion RMB (up 5.6%) and international contracts at about 5.349 billion USD (up 79.6%) [2]. - The company has made significant strides in overseas markets, securing contracts in Saudi Arabia, Kazakhstan, Morocco, and South Africa, indicating a strong international presence and growth potential [2][3]. Summary by Sections Financial Performance - In 2024, Sinopec Engineering reported a revenue of 64.198 billion RMB and a net profit of 2.466 billion RMB, with a dividend of 0.358 RMB per share, marking the highest dividend payout since its listing [1]. Order Growth - The company has seen a continuous double-digit growth in new contracts for three consecutive years, with a total of 100.613 billion RMB in new orders for 2024. The overseas contracts significantly exceeded expectations, showcasing the company's expanding international footprint [2]. Order Structure - The order structure has improved, with a notable increase in coal chemical orders. The new contracts in the coal chemical sector reached 12.478 billion RMB, a staggering 93.7% increase year-on-year, driven by projects in new materials and technologies [3]. Profit Forecast and Valuation - The profit forecasts for 2025 and 2026 have been slightly adjusted downwards to 2.626 billion RMB and 2.789 billion RMB, respectively, with a new forecast for 2027 set at 2.946 billion RMB. The earnings per share (EPS) are projected at 0.6, 0.63, and 0.67 RMB for the years 2025, 2026, and 2027 [4].
中石化炼化工程(02386):年报点评:业绩符合预期,新签合同表现亮眼
Tianfeng Securities· 2025-03-17 11:13
港股公司报告 | 公司点评 中石化炼化工程(02386) 证券研究报告 年报点评:业绩符合预期,新签合同表现亮眼 公司发布 2024 年业绩 2024 年公司实现营业收入 641.98 亿元,同比+13.9%;归母净利润 24.66 亿 元,同比+5.5%。毛利率 8.3%、净利率 3.9%、资产回报率 3%。2024 全年 派息每股 0.358 元,派息率 65%,全年派息金额为公司上市以来新高。资 本开支 10.21 亿,同比-4.4%。 市场开发再获历史突破,境外订单大超预期 2024 全年新签订单总量连续三年保持两位数增长,达到 1,006.13 亿元,同 比增长 25.4%。其中,境内新签订合同额约人民币 621.02 亿元,同比增长 5.6%;境外新签订合同量约 53.49 亿美元,同比+79.6%,大超预期(2023 年报中展望为 30 亿美金)。2025 年公司新签合同展望为境内 630 亿人民币, 境外 50 亿美元。 海外新签订单在新市场、新品种、新领域屡获突破。在境外市场,公司加 大与国际同业伙伴强强联合,加强与战略客户的高层互访和推介交流,海 外市场开发持续做强做大做优。2024 年签 ...
中石化炼化工程(02386) - 2024 - 年度财报
2025-03-16 11:47
Financial Performance - The company achieved a total revenue of 64.198 billion CNY and a net profit of 2.474 billion CNY for the year, successfully completing all production and operational tasks and QHSE goals[14]. - Revenue for 2024 reached RMB 64,198,210, an increase of 13.9% compared to RMB 56,353,293 in 2023[27]. - The profit attributable to shareholders was RMB 2.466 billion, an increase of 5.5% compared to the previous year[46]. - The total revenue for the reporting period was RMB 64.198 billion, representing a year-on-year growth of 13.9%[46]. - The net profit for the year was RMB 2.474 billion, reflecting a year-on-year growth of 5.5%[92]. - The gross profit decreased to RMB 5,336,500, down 5.4% from RMB 5,640,699 in 2023, resulting in a gross margin of 8.3%[27][28]. - Operating profit for 2024 was RMB 1,715,213, a slight decrease of 1.6% from RMB 1,742,527 in 2023[27]. - Basic earnings per share rose to RMB 0.56, up 5.7% from RMB 0.53 in 2023[27]. - The net profit margin decreased to 3.9% in 2024 from 4.2% in 2023[159]. Dividends and Shareholder Returns - The board proposed a final dividend of 0.208 CNY per share, resulting in a total annual dividend of 0.358 CNY per share, with a payout ratio of 65%, marking the highest dividend amount since the company's listing[14]. - The company maintained a dividend payout ratio of 65% for four consecutive years, with continuous growth in dividend amounts[15]. - The proposed final cash dividend for the year ending December 31, 2024, is RMB 0.208 per share[167]. Business Expansion and Strategy - The company aims to enhance its service levels across the entire energy and chemical engineering industry chain, focusing on safety, efficiency, green, and low-carbon services[6]. - The company is committed to expanding its business areas and extending its value chain to create a world-leading technology-driven engineering company[6]. - The company aims to enhance its international operations and technological capabilities to drive future growth[20]. - The company aims to enhance its international operations by integrating "international rules + Chinese efficiency" in its overseas operational model[16]. - The company is focusing on high-end carbon materials, low-cost oil conversion, and green low-carbon development in its R&D investments[18]. Contracts and Orders - The total new signed orders reached 100.613 billion yuan, marking a continuous double-digit growth for three consecutive years[15]. - The company has successfully entered the "thousand billion club" with new signed orders exceeding 100 billion yuan[15]. - The new contract volume signed during the reporting period was RMB 100.613 billion, reflecting a year-on-year growth of 25.4%[51]. - In the domestic market, new contracts signed amounted to approximately RMB 621.02 billion, up 5.6% year-on-year, while overseas contracts reached about USD 5.35 billion, a significant increase of 79.6%[56]. Research and Development - The company is actively promoting the integration of artificial intelligence in engineering design and construction, aiming to optimize the entire lifecycle of projects[18]. - The company has established a joint research center with Guangdong University of Technology focused on biomass utilization, accelerating the industrial application of related technologies[18]. - The company filed 762 new patent applications, with 76.6% being invention patents, and granted 384 new patents, with 52.3% being invention patents[66]. - Research and development expenses rose to RMB 25.151 billion, reflecting a 13.7% increase as the company intensified investment in key technology projects[85]. Financial Stability and Assets - The debt-to-asset ratio improved to 61.3% from 61.9% in 2023, indicating better financial stability[28]. - Total assets as of December 31, 2024, are RMB 81.51 billion, a slight increase of RMB 0.42 billion from RMB 81.09 billion in 2023[147]. - Total liabilities decreased to RMB 49.93 billion from RMB 50.17 billion, a reduction of RMB 0.24 billion[149]. - The net assets attributable to shareholders increased to RMB 31.51 billion, up RMB 0.65 billion from RMB 30.86 billion in 2023[150]. Operational Efficiency - The company executed 1,596 projects with an average daily workforce exceeding 100,000, achieving a cumulative safety record of 380 million hours without reported safety incidents[54]. - The company has enhanced project execution capabilities, completing 148 design optimization tasks and improving efficiency in design and construction integration[60]. - The company has integrated a unified information application framework 2.0 to maximize the value of the entire lifecycle of engineering projects[67]. Related Party Transactions - The total related party transactions amounted to RMB 27.763 billion, with purchases of RMB 2.827 billion and sales of RMB 24.936 billion[176]. - The company confirmed compliance with the Hong Kong Listing Rules regarding related party transactions[183]. Share Repurchase and Equity - The company repurchased a total of 17,295,500 H-shares during the reporting period, utilizing funds amounting to HKD 86,510,422.80[189]. - The company plans to cancel 13,397,000 H-shares on May 13, 2024, representing approximately 0.30% of the total issued share capital and 0.92% of the total issued H-shares[189]. - After the cancellation of 20,662,500 H-shares, the total number of issued shares will be 4,397,881,000, including 1,430,681,000 H-shares and 2,967,200,000 domestic shares[190].