Loading…
Engineering, procurement and construction contractor for oil-refining and petrochemical plants, majority-owned by Sinopec.
Engineering, procurement and construction contractor for oil-refining and petrochemical plants, majority-owned by Sinopec.
Is paid per project under construction contracts that run several years, with income recognized as the work progresses. Sinopec, its controlling shareholder, is also its anchor customer, so order flow follows the parent's refining and chemical investment plans, with overseas contracts making up the rest of the order book.
In one line: China's Fluor/KBR for refining and petrochemicals.
Moat: narrow (process know-how, scale, customer qualification). In-house refining/petrochemical process technology plus Sinopec's captive order flow.
Headquarters: Beijing, China · Employees: 16,049
Size SINOPEC Engineering (Group) (2386.HK) is a Hong Kong Industrials company (Engineering & Construction) with a market value of $3.05B, the 335th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$5.44 on 6 Nov 2026.
Performance Over six months the shares fell 12.7%, against -14.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 14.1% over the last twelve months (peer median +4.0%); the operating margin is 1.6% (peer median 4.7%).
Valuation It trades at 9.0× forward earnings against a peer median of 13.2× (2nd cheapest of 21).
Capital Return on invested capital runs 10.1 points above its cost of capital (6.4% WACC).
Next results Next results expected around 15 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$82.8B | HK$76.0B | HK$69.6B | HK$62.3B | HK$61.7B |
| Revenue growth | — | +9% | +12% | +1% | — |
| Gross profit | HK$5.62B | HK$5.33B | HK$5.59B | HK$6.03B | HK$6.29B |
| EBITDA | HK$2.58B | HK$2.25B | HK$2.56B | HK$3.13B | HK$2.93B |
| Net income | HK$1.75B | HK$1.95B | HK$2.67B | HK$2.58B | HK$2.66B |
| Free cash flow | HK$4.60B | HK$9.42B | -HK$1.90B | HK$3.11B | HK$7.93B |
| Capital expenditure | HK$423M | HK$394M | HK$384M | HK$438M | HK$861M |
| Total debt | n/a | HK$2.04B | HK$1.91B | HK$2.31B | HK$2.60B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| SINOPEC Engineering (Group) 2386.HK | $3.05B | -13% | +14% | 2% | 9.0× | n/a |
| Fluor FLR | $6.22B | +7% | -5% | -2% | 14.2× | n/a |
| KBR KBR | $4.69B | +14% | -3% | 9% | 9.5× | -8.7% |
| Technip Energies TE.PA | $6.83B | -8% | +2% | 4% | 18.9× | -6.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2386.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.3% | -3.7% | 7th highest of 21 |
| 6-month return | -12.7% | -14.8% | 10th highest of 21 |
| Distance from 52-week high | -34.1% | -26.9% | 5th lowest of 21 |
| Revenue growth (TTM) | +14.1% | +4.0% | 5th highest of 21 |
| Operating margin | 1.6% | 4.7% | 2nd lowest of 21 |
| Forward P/E | 9.0× | 13.2× | 2nd cheapest of 21 |
| ROIC minus cost of capital | +10.1 pp | +2.0 pp | 6th highest of 19 |
| Net debt / EBITDA | -11.7× | 0.9× | least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SINOPEC Engineering (Group) 2386.HK | Hong Kong | $3.05B | -13% | +14% | 2% | 9.0× | n/a | n/a |
| Legence LGN | United States | $3.02B | -72% | +69% | 3% | 12.2× | 29.7% | +69.2% |
| Kraftia 1959.T | Japan | $3.10B | -29% | +5% | 12% | 10.8× | 2.8% | +4.0% |
| Bravida BRAV.ST | Sweden | $3.00B | +30% | +4% | 6% | 19.0× | 5.3% | +5.9% |
| L&K Engineering (Suzhou) 603929.SS | China | $2.99B | -50% | +43% | 25% | 14.8× | 7.5% | +39.5% |
| Veidekke VEI.OL | Norway | $3.13B | +25% | +8% | 5% | 17.1× | -3.5% | +2.5% |
| ACME Solar ACMESOLAR.NS | India | $2.95B | +32% | +54% | 66% | 29.6× | n/a | n/a |
| Sinoma International Engineering 600970.SS | China | $3.15B | -14% | +3% | 5% | 9.2× | -8.3% | +10.3% |
| Jgc 1963.T | Japan | $2.94B | -18% | -15% | 6% | 10.0× | n/a | n/a |
| China Communications Services 0552.HK | Hong Kong | $3.19B | -19% | 0% | 2% | 5.7× | n/a | n/a |
| Downer EDI DOW.AX | Australia | $3.21B | -6% | -7% | 4% | 15.8× | 11.1% | -3.4% |
| Shanghai Construction 600170.SS | China | $2.89B | -20% | -22% | 1% | 16.7× | -10.4% | -2.3% |
| Ventia Services VNT.AX | Australia | $3.24B | -2% | -1% | 7% | 16.1× | -1.4% | +13.7% |
| EXEO 1951.T | Japan | $2.84B | -22% | +18% | 7% | 12.2× | -5.0% | +6.6% |
| Peab PEAB-B.ST | Sweden | $2.80B | +5% | +4% | 4% | 11.4× | 6.6% | -0.4% |
| Morgan Sindall MGNS.L | United Kingdom | $2.77B | -7% | +11% | 5% | 11.7× | -4.7% | +10.6% |
| Elecnor ENO.MC | Spain | $2.76B | -30% | +7% | 4% | 17.0× | -4.9% | +12.3% |
| Worley WOR.AX | Australia | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% | +2.3% |
| Alten ATE.PA | France | $3.43B | +43% | 0% | 8% | 11.4× | 3.5% | +11.9% |
| Bird Construction BDT.TO | Canada | $2.70B | +28% | +7% | 4% | 21.5× | 6.1% | +17.7% |
| Primoris Services PRIM | United States | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% | +16.8% |