CPEC(SH:600339) Zheng Quan Shi Bao·2025-11-11 17:51Core Viewpoint - China Petroleum Engineering has received a contract award for the Kazakhstan Ethane-Propane Pipeline project, which is expected to positively impact the company's revenue and profit over the next 3-4 years [1][2]. 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 contract value of approximately $424 million (about 3 billion RMB) [1]. - The planned construction period for the project is 36 months from the issuance of the notice to proceed [1]. 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 [2]. - The company has a strong track record in project execution and possesses the necessary technology and resources to meet the project's requirements [2]. 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 [2]. - The company signed new contracts worth 99.22 billion RMB in the same period, reflecting a year-on-year growth of 5.25% [2]. 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% [3]. - The company successfully signed 34 projects, including significant contracts in low-carbon technology and new materials, indicating a strong market development trend driven by technological leadership [3].