SUNWAY(SZ:002469)2025-05-18 06:54Group 1: Company Overview - Shandong Sanwei Chemical Group Co., Ltd. is a technology-driven chemical group engaged in R&D, engineering services, and production of chemical raw materials [2][3]. - The company is the largest producer of n-propanol in China and a leading enterprise in the recovery of dibutyl and octanol waste liquids [3][13]. Group 2: Engineering Business - In Q1 2025, the company signed engineering consulting and EPC contracts worth CNY 30,232.80 million, with a total of CNY 167,064.56 million in uncompleted contracts as of March 31, 2025 [7][8]. - Major ongoing projects include sulfur recovery and acid gas treatment for various clients, indicating a robust order backlog [7][8]. Group 3: Technological Advantages - The company has developed advanced sulfur recovery technologies, achieving domestic leadership and international advancement [5][6]. - It has completed the design and total contracting of 240 sulfur recovery units, with a total capacity of 12.83 million tons/year [5]. Group 4: Financial Health and Expansion Plans - The company maintains a strong cash reserve and low debt ratio, allowing it to meet current business development needs [9]. - Future plans include optimizing production efficiency and expanding into high-value downstream fine chemicals [9]. Group 5: Shareholder Returns - For the fiscal year 2024, the company plans to distribute a cash dividend of CNY 3.00 per 10 shares, totaling CNY 194,658,789.00, which represents 98.82% of the net profit attributable to shareholders [11][12]. - Cumulative cash dividends since its listing in 2010 amount to CNY 1,225.88 million, reflecting the company's commitment to shareholder returns [12]. Group 6: Chemical Production Capacity - The company has a production capacity of 170,000 tons/year for aldehydes, 260,000 tons/year for alcohols, 30,000 tons/year for acids, and 100,000 tons/year for esters [13]. - Ongoing projects aim to enhance production capacity for cellulose acetate butyrate by 50,000 tons/year and improve existing facilities [13].