Sinopec Refining & Chemical Engineering (02386) plans to acquire 100% of the shares in East China Pipeline Design Institute

According to Zhitong Finance App, Sinopec Refining & Chemical Engineering (02386) issued an announcement. On December 23, 2025, Nanjing Engineering, a wholly-owned subsidiary of the company, signed an “Equity Transfer Agreement” with Pipeline Storage and Transportation Asset Company. Based on this, Nanjing Engineering agreed to acquire 100% of the shares of East China Pipeline Design Institute held by Pipeline Storage and Transportation Asset Company. After the transaction is completed, East China Pipeline Design Institute will become a subsidiary of the company, and its financial statements will be included in the Group's consolidated financial statements.

East China Pipeline Design Institute has 1 professional grade A qualification: “Pipeline Transportation Professional in the Petroleum and Natural Gas (Offshore Oil) Industry”. After the completion of this transaction, the existing storage and transportation professional resources of the East China Pipeline Design Institute can be highly integrated and complementary to the Group's business, giving full play to the business potential formed by the East China Pipeline Design Institute's professional grade A qualification, which will further consolidate the Group's entire business chain and integrated EPC service capabilities from design to procurement and construction.

The Group has good influence and good customer relationships in the storage and transportation facilities industry, and has strong equipment resources, talent team and project performance in the long-distance pipeline construction business. Through this transaction, the Group will increase and continuously enrich the EPC qualifications and engineering execution capabilities of long-term pipelines and storage and transportation facilities, creating conditions for expanding emerging markets such as hydrogen energy pipelines, aviation coal pipelines, and long-term chemical pipelines.

The Group has been deeply involved in the Middle East Gulf markets such as Saudi Arabia, Kuwait, and the United Arab Emirates for 20 years, and has established good cooperative relationships with local owners. The acquisition of the East China Pipeline Design Institute will add an important bargaining chip for the Group to develop the local storage and transportation engineering construction market, further expand the scope of engineering services, strengthen and improve overseas business, and enhance competitiveness in the international market.