CPEC(SH:600339) Zheng Quan Shi Bao Wang·2025-11-11 12:16Core Viewpoint - China Petroleum Engineering has received a project award for the Kazakhstan Ethane-Propane Pipeline EPC project, which is expected to positively impact the company's revenue and profit over the next 3-4 years [2][3]. Group 1: Project Details - The project involves the construction of a 211.17 km ethane pipeline and a 218.7 km propane pipeline, with a total awarded amount of $424 million (approximately 3 billion RMB) [2]. - The planned construction period for the project is 36 months from the issuance of the notice to proceed [2]. Group 2: Company Background and Capabilities - China Petroleum Engineering's subsidiary, China Petroleum Pipeline Bureau Engineering Co., Ltd., will lead the project, leveraging its extensive experience in oil and gas transportation engineering in Kazakhstan [3]. - The company has a strong technical foundation and resources to meet the project's implementation needs, ensuring effective risk management and project execution [3]. Group 3: Financial Performance - In the first three quarters of 2025, the company reported a revenue of 57.53 billion RMB, a year-on-year increase of 12.42%, and a net profit attributable to shareholders of 523 million RMB [3]. - The company signed new contracts worth 99.22 billion RMB in the same period, reflecting a year-on-year growth of 5.25% [3]. Group 4: Emerging Business Developments - In the first half of 2025, the company achieved new contracts worth 20.60 billion RMB in emerging businesses, marking a year-on-year increase of 16.56% [4]. - The company is focusing on transforming and upgrading its refining and chemical business, with new contracts in this sector amounting to 14.62 billion RMB, accounting for 19.92% of the total new contracts [4].