On April 18, China National Chemical Engineering Corporation (hereinafter referred to as "China Chemical Corporation") released a briefing on the company's operation in the first quarter of 2024.
In the first quarter, the amount of new contracts signed exceeded 120 billion yuan
According to the announcement, from January to March 2024, China Chemical achieved a new contract value of 127.916 billion yuan, a year-on-year growth rate of 9.72%, continuing to grow steadily.
From the perspective of the contract type of the project, the newly signed construction project contract value was 122.237 billion yuan, of which the contract value of chemical engineering was 95.465 billion yuan, the contract value of infrastructure was 95.465 billion yuan, and the contract value of environmental treatment projects was 4.099 billion yuan. The contract value of survey, design supervision and consulting, industrial and new material sales, modern service industry, and other businesses was 1.143 billion, 2.11 billion, 323 million, and 2.103 billion respectively.
13.1 billion yuan was signed for major projects
According to the statistics of CNSUIDO01, in the first quarter of 2024, China Chemical signed a total of 39 major projects with a single contract value of more than 500 million yuan, with a total contract value of more than 50 billion yuan, accounting for about 40% of the total contracted performance.
Domestic and overseas performance grew steadily
Judging from the announcement, in the first quarter of 2024, China Chemical achieved a new contract value of 105.357 billion yuan, an increase of 7.54% over the same period of last year, accounting for about 82.36% of the total amount of new contracts, and a new overseas contract value of 22.559 billion yuan, an increase of 240.21% over the same period of last year. Domestic business is the focus of the Group's operation, while overseas business is the growth point of ChemChina's performance.
According to the above-mentioned list of 500 million+ large projects, we can find that in the first quarter, China Chemical mainly won large orders in 15 provinces and regions across the country and overseas markets, among which the total contract value of projects signed in overseas regions reached 13.388 billion yuan, becoming the main market for China's chemical large orders.
In March, China Chemical received a major overseas order - Egypt NCIC Phase III fertilizer project contract, which was signed in Egypt by China Wuhuan Engineering Co., Ltd., a subsidiary of China National Chemical Engineering Group, and Egypt's Nasser Intermediate Chemical Company, with a contract amount of more than 1 billion euros (equivalent to about 8.18 billion yuan), located in Ain Sukhna Industrial Zone, Suez Province, Egypt, using natural gas and phosphate rock as the main raw materials to produce synthetic ammonia, urea and ammonium phosphate and other fertilizer products. This project is also another in-depth cooperation between China Wuhuan and Nasser Intermediate Chemicals Company of Egypt after the NCIC phosphate fertilizer project and the pre-plant area project in Egypt. The successful signing of the project broke the long-term monopoly of European and American engineering companies in the natural gas chemical market in North Africa, and demonstrated the technical strength and performance ability of China Wuhuan.
The king of large project orders in the first quarter: China Wuhuan and China Chemical Communications Construction
Among the large orders signed in the first quarter, the project contract amount signed by China Wuhuan became the enterprise with the most orders among China's second-level chemical units due to the above-mentioned overseas large orders, and became the king of orders in the first quarter.
In addition to the newly signed projects, according to the statistics of the infrastructure database, among the bid-winning projects released in the first quarter, the total number of projects won by China Chemical Communications Construction Group was the largest, about 8.5 billion yuan, far ahead of other secondary enterprises, becoming the "bid king" in the first quarter.
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Congratulations to China Chemical on its good start to business performance in the first quarter of 2024, and look forward to the development of China Chemical Corporation to a higher level this year!
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