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Sinochem Group Honored Level A for Central Enterprises’ Performance Evaluation for the 14th Time

Date:2019-07-21 Source:Sinochem Group

Recently, the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council commended 42 enterprises with outstanding performance, 28 enterprises with outstanding contributions in science and technology innovation, and 20 enterprises in energy conservation and emission reduction during the 2016-2018 tenure.

Sinochem Group successfully completed SASAC’s evaluation indicators. The performance evaluations for 2018 and the 2016-2018 tenure were both Level A. So far, the company has been awarded this honor for three consecutive years (2016-2018), and the 14th times with the whole course of this annually celebrated event. In addition to being labeled as Level A, the company was at the same time recipient of an “Outstanding Enterprise with Excellent Performance,” an “Enterprise with Outstanding Contribution to Scientific and Technological Innovation” and an “Enterprise with Outstanding Contribution to Energy Conservation and Emission Reduction” for the 2016-2018 tenure. It is among the 10 central enterprises that have won all the above mentioned three awards.

In 2018, against the complex and ever-changing internal and external situations, Sinochem Group was active in implementing the major decision-making deployment of the Central Party Committee and the State Council on the reform and development of state-owned enterprises, practicing new development concepts, and unswervingly advancing supply-side structural reforms. Sinochem Group upholds the core value of"In Science We Trust," stimulating innovation and vitality and bringing fruition on the committed reform efforts. In terms of performance in 2018, the revenue reached RMB 591.08 billion, an increase of 13.93% year-on-year. The total profit reached RMB 15.95 billion, an increase of 17.76% year-on-year. The compound growth rate for the 2016-2018 tenure was over 40%. In terms of scientific and technological innovation, a host of scientific and technological achievements won national and provincial awards, and second prize of the National Award for Technical Invention for two consecutive years (2017-2018).

In recent years, Sinochem Group has been consistent with reform and innovation efforts. Performance continues to reach new highs. Sinochem Group will continue to follow the core value of “In Science We Trust”, transforming itself into a “scientifically and technologically driven innovative enterprise, an innovative and world-class comprehensive chemical enterprise with technological innovation capability, core competitiveness and sustainability, bringing customers, shareholders and employees the maximum value and contributing to the development of the industry and social progress.