Core Viewpoint - Sinopec Engineering (02386) announced the acquisition of 100% equity of East China Pipeline Design Institute, which will enhance the company's integrated EPC service capabilities and expand its market presence in emerging sectors such as hydrogen pipelines and chemical long-distance pipelines [1][2] Group 1: Acquisition Details - The acquisition agreement was signed on December 23, 2025, between Sinopec's wholly-owned subsidiary Nanjing Engineering and Pipeline Storage and Transportation Assets Company [1] - Following the completion of the transaction, East China Pipeline Design Institute will become a subsidiary of Sinopec, and its financial statements will be consolidated into the group's financial reports [1] Group 2: Strategic Benefits - East China Pipeline Design Institute holds a Class A qualification in the "Petroleum and Natural Gas (Offshore Oil) Pipeline Transportation" sector, which will complement the group's existing resources and enhance operational potential [1] - The acquisition will strengthen the group's full business chain from design to procurement and construction, thereby improving its EPC service capabilities [1] Group 3: Market Expansion - The group has established strong relationships with local owners in the Middle East Gulf markets, including Saudi Arabia, Kuwait, and the UAE, over the past 20 years [2] - Acquiring East China Pipeline Design Institute will provide the group with significant leverage to expand into local storage and transportation engineering markets, enhancing its international market competitiveness [2]
中石化炼化工程拟收购华东管道设计院100%股权