Sinopec Refining & Chemical Engineering (Group) Co., Ltd. held its inauguration ceremony in Beijing

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Build a world-class energy and chemical engineering company — This company is under the control of Sinopec Group, and it was formed through the restructuring of 8 engineering companies including Sinopec Engineering Construction Co., Ltd； ——It possesses the capacity and scale to simultaneously undertake more than 20 large-scale EPC turnkey projects, with an annual design investment volume of 100 billion yuan. It also holds a range of oil refining technologies and core chemical processing technologies with independent intellectual property rights, enabling it to design and construct oil refineries with a production capacity of tens of millions of tons per year as well as ethylene production facilities with a capacity of millions of tons per year. On September 3, the inauguration ceremony for Sinopec Refining & Chemical Engineering (Group) Co., Ltd. was held grandly at the Sinopec Building in Beijing. Shao Ning, Deputy Director of the State-owned Assets Supervision and Administration Commission of the State Council, and Fu Chengyu, Chairman of Sinopec Group Corporation, jointly unveiled the plaque for Sinopec Refining & Chemical Engineering (Group) Co., Ltd., and delivered speeches in which they highly praised the restructuring efforts of the refining & chemical engineering sector and outlined specific requirements for its future development. The unveiling ceremony was presided over by Wang Tianpu, General Manager of Sinopec Group. Li Chunguang, Deputy General Manager of the group, read out the approval document from the State-owned Assets Supervision and Administration Commission of the State Council regarding the establishment of Sinopec Refining & Chemical Engineering (Group) Co., Ltd. Cai Xiyou, Senior Vice President of the company and Chairman of Sinopec Refining & Chemical Engineering (Group) Co., Ltd., provided an overview of the restructuring of the refining & chemical engineering business unit as well as the plans for future actions. Zhang Yaocang, Zhang Jianhua, Xu Bin, and Liu Yun, leaders of Sinopec Group Company, along with relevant responsible officials from the State Administration for Industry and Commerce and the Supervisory Board dispatched by the State Council to Sinopec Group Company, attended the unveiling ceremony. To implement the strategic plans of **** and the State Council regarding the reform and development of state-owned enterprises, and with the approval of the State-owned Assets Supervision and Administration Commission of the State Council, Sinopec Group Corporation (hereinafter referred to as “Sinopec”) served as the lead sponsor, together with Sinopec Group Asset Management Co., Ltd.; as a result, Sinopec Refining & Chemical Engineering (Group) Co., Ltd. was restructured into Sinopec Refining & Chemical Engineering (Group) Co., Ltd. Ltd. (hereinafter referred to as “Refining & Chemical Engineering Group”). The registered capital of the Refining and Chemical Engineering Group is RMB 3.1 billion, with Sinopec and Sinopec Group Asset Management Co., Ltd. holding 98% and 2% of the shares respectively. The Refining and Chemical Engineering Group is the sole operating entity in Sinopec’s refining and chemical engineering sector. Its business scope includes: technology research and development, technical consulting, engineering design, equipment manufacturing, project construction, project management, EPC contracting, general construction contracting, and commissioning of facilities ； Its business covers various fields such as refining, petrochemicals, coal chemicals, and storage and transportation. The Refining and Chemical Engineering Group and its subsidiaries have achieved remarkable success in the field of domestic petrochemical project construction. They have built a number of large-scale oil refining, chemical processing, fiber production, fertilizer manufacturing facilities, as well as **strategic reserve projects in China, making significant contributions to the development of large-scale petrochemical energy bases in the country. With a glorious history and impressive achievements, they serve as the leaders and pioneers in China’s refining and chemical engineering industry. The Refining and Chemical Engineering Group currently possesses the capacity and scale to undertake more than 20 large-scale EPC turnkey projects simultaneously, with an annual design investment volume of 100 billion yuan. It holds a range of oil refining technologies with independent intellectual property rights, as well as core technical capabilities for chemical processes such as ethylene cracking furnaces, polyethylene, polypropylene, and butadiene. In addition, it has a well-developed system of construction techniques and methods, enabling it to design and build oil refineries with a production capacity of tens of millions of tons per year and ethylene production facilities with a capacity of millions of tons per year on its own. The group enjoys a leading market position, comprehensive business qualifications, and strong technical and human resources capabilities. The Refining and Chemical Engineering Group and its subsidiaries are among the few large-scale technology-exporting enterprises in China. Since the implementation of the \"go global\" strategy in the early 1990s, the company has undertaken engineering contracting projects in countries and regions such as Kuwait, Saudi Arabia, Qatar, Kazakhstan, Nigeria, Singapore, and Bangladesh, earning a high reputation and having built a stable client base. According to the 2011 International Contractor Rankings published by ENR, the authoritative magazine in the engineering industry, based on international contracting revenue, Sinopec Engineering Co., Ltd., a subsidiary of the company, is the highest-ranked enterprise in China’s petrochemical engineering sector. The main subsidiaries of the Refining and Chemical Engineering Group include Engineering Construction Co., Ltd. (SEI), Luoyang Engineering Company, Shanghai Engineering Company, **, Nanjing Engineering Company, the Fourth Construction Company, the Fifth Construction Company, the Tenth Construction Company, etc. These subsidiaries possess excellent and comprehensive business qualifications, including a Class A qualification for comprehensive engineering design as well as a first-class general contracting qualification for chemical and petroleum projects across the country. The successful establishment of the Refining and Chemical Engineering Group marks a significant breakthrough in Sinopec’s major strategic effort to accelerate professional restructuring and shift its mode of development. This advancement will help to speed up the professional development of Sinopec’s refining and chemical engineering sector, as well as enhance its ability to make scientific decisions and improve its operational efficiency. By deepening continuous integration, optimizing resource allocation, strengthening risk control, and leveraging its overall advantages, the Refining and Chemical Engineering Group will strive to become stronger and more competitive, refine its development model, enhance its comprehensive competitiveness in domestic and international markets, actively explore a path of specialized development, and build itself into a world-class energy and chemical engineering company that combines the capabilities of a technology patent holder with those of an engineering contractor. By exporting China’s independent technology packages and products made in China, the Refining and Chemical Engineering Group will gradually establish the unique advantages of Chinese engineering companies in the international market, create a distinctive brand for Chinese refining and chemical engineering projects, and make greater contributions to strengthening the leading role of state-owned enterprises in the market economy, as well as to achieving the strategic goals of the 12th Five-Year Plan and the strategy of going global.