Wison Engineering Successfully Completes Delivery of Yangmei Hengtong 300kta MTO plant project

SHANG HAI, 15 February 2015 – Wison Engineering Services Co. Ltd. (“Wison Engineering” or the “Company”, SEHK stock code: 2236, together with its subsidiaries, the “Group”), the largest private sector chemical engineering, procurement and construction management (“EPC”) service provider in China, today announced that its indirect non-wholly owned subsidiary, Wison Engineering Ltd. (“Wison Engineering”), has successfully completed the delivery of a 300kta methanol-to-olefin (MTO) plant project (the "Yangmei Hengtong Project"), part of the Shandong Yangmei Hengtong Chemicals Company Limited ("Yangmei Hengtong"). This is the second MTO plant delivered by Wison Engineering to employ the Company’s MTO technology after the start-up of Wison Clean Energy's MTO plant in Nanjing.

With the design and project management experience acquired from the execution of the Wison (Nanjing) Clean Energy MTO project, Wison Engineering continued to strengthen its comprehensive competence in MTO project management through the Yangmei Hengtong Project. With a more systematic, standardized project management, Wison Engineering ensures its efficient and quality delivery of future MTO plants.

The Yangmei Hengtong Project is one of the eight plants applying Wison’s MTO technology in China. The Wison Engineering olefin separation technology featured in the MTO project utilizes the Company's proprietary "pre-cutting + oil absorption" technology, which reduces energy consumption and lowers investment costs while also improving the olefin recovery rate, allowing for more stable production and longer operating cycles. This technology broke the bottleneck in the technological difficulties that existed in the domestic industry; hence, the China National Petroleum & Chemical Planning Institute selected it to be the recommended technology for the "Twelve-Five Coal-to-Olefins Upgrade Demonstration Project". The Yangmei Hengtong Project also incorporates Process Design Package, patented methanol conversion (MTO) and olefin cracking process (OCP) technology developed by UOP. The integrated application of Wison Engineering and UOP's technologieswill help Yangmei Hengtong provide high-quality ethylene and propylene material for downstream processing of PVC and propylene oxide.

Mr. Li Jizhou, General Manager of Yangmei Hengtong, said, "As a key project for Yangmei Hengtong, the 300 kta MTO unit is its strategic industrial upgrading and raw material optimization initiative. Relying on rich experience in engineering design, project management and the service concept “customer foremost”, Wison Engineering has achieved the successful delivery of the project and saved precious time for operation. ”

Mr. Zhou Hongliang, Senior Vice President of Wison Engineering, said, " Yangmei Hengtong’s trust and support formed a solid foundation for the successful on time delivery of our high quality project. We once again enhanced our capabilities and project management skills in EPC services for MTO plants throughout the project, marking another significant milestone in our strategy implementation to further strengthen MTO market, as well as to drive business development through innovative technologies.”

The cooperation between Wison Engineering and Yangmei Hengtong began in 2012. Under this project, Wison Engineering will undertake the basic and detailed engineering design of the plant, by-product and raw material storage installations, utilities and ancillary facilities, and provide procurement and construction services for the MTO plant. Upon delivery of the project, Wison Engineering will also further participate in the trial run and examination at different stages.