Wison Engineering Seeks New Cooperation for Mutual Benefits in Overseas Markets

(10 December 2018, Shanghai) Wison Engineering (Stock code: 2236.HK), China's leading provider of energy and chemical EPC (engineering, procurement and construction management) services and technology integrated solutions, served as the exclusive sponsor for the forum topic "Exploring Quality Development Pathways for Key Projects under Belt and Road Initiative" which was held in Jinan on 6 December. The forum, organized by the International Project Contracting & Labour Service, is one of the sub-forums of the Annual Conference 2018 of China International Contractors Association (CHINCA). Senior Vice President of Wison Engineering Mr. ZHENG Shifeng was invited to deliver a speech on the topic of "Exploring Cooperation for Mutual Benefits in Oversea Markets through Project Development" at the forum.

Mr. ZHENG began his speech by introducing the market coverage, scope of service and technical capability of Wison Engineering. He talked about the risks and problems associated with contracting for overseas project and pointed out that cooperation was one of the effective methods to guard against risks and maximize Chinese enterprise benefits from EPC general contracting for overseas projects. Mr. ZHENG explained to the participating central and State-owned enterprises (SOEs) the profound experience, technologies, projects, and clients Wison Engineering has accumulated in the domestic and international markets over the past 20 years, illustrated the company's good practices in areas of joint bidding, project finance, module construction, quality assurance, and ended the speech with the examination of potential cooperation models.

Wison Engineering is the largest private company in the energy and chemical engineering sector in China. With its leading digitalization, modularity and rich EPC experience, the company's global business network has entered 22 countries since the launch of overseas business in 2008. In 2017, the company achieved more than 50% of its total business income with overseas project revenue accounts.

During the global strategy implementation, certain EPC projects awarded to Wison were handed over ahead of schedule thanks to its excellent EPC coordinated capabilities. For example, in Saudi Arabia, one of the most established and strict markets, all seven SABIC projects Wison contracted successfully achieved handover ahead of schedule, earning a high recognition and trust from the client.

Wison not only focuses on its own business development but has also made outstanding contributions to the export of Chinese manufacturers, through establishing a positive brand image for Chinese companies by providing good engineering services and safeguarding the overall interests of Chinese companies. In Saudi Arabia, a total of about 15 Chinese suppliers managed to enter the pre-qualification phase of SABIC, thanks to Wison's efforts. In UAE, the Chinese device manufacturers also entered the supplier system of ADNOC with Wison's help, thus building a wider stage for the Chinese construction and manufacture.

With experience in different market conditions and clients demands, Wison can provide flexible cooperation approaches for its clients. Taking the North America market as an example, Wison leveraged its extensive experience in modularization. Wison Engineering maximized the modularization of the design and supply processes together with Wison Offshore & Marine ensuring the quality and safety of the Project, with enhanced installation efficiency, decreased costs and shortened installation time to provide the most economical solutions to the client.

For years, Wison has insisted on promoting the localization of overseas project teams. The employment rate of local staff in the Refinery Project in South America is as high as 80%. In the Middle East, the company leverages its advantages as a Chinese enterprise while working closely with the client and driving ICV for locals, which is highly recognized by the client and builds a solid foundation for the further cooperation.

While improving its capabilities on project management and services, Wison Engineering maintains the corporate objective of "Better Technology, Better Life" and adheres to the market demand-oriented approach. Guided by the R&D and integration of advanced technologies, the Company actively practice scientific and technical innovation, platform establishment and engineering application as an important strategic initiative to enhance its core competitiveness. After many years of development, Wison has accumulated many proprietary intellectual property rights of the patented technology in petrochemical, coal chemical and other fields. Wison has also been named "High-tech Enterprise", "Shanghai Enterprise Technology Center" and "China's Technology Innovation Demonstration Enterprise of Chemical Industry" by Shanghai and industry associations. Just last month, Wison was selected to be the first private engineering enterprise in energy and chemical industry with postdoctoral program qualification.

Through the forum, Wison had an in-depth and extensive communications with the vase number of Chinese enterprises. With the help of "B&D" Policy and valuable development opportunities, the participating enterprises has struck a responsive resonance in terms of how to adapt to local circumstances, how to optimize resource allocation, and how to cooperative with others in the overseas market.

The CHINCA was founded in 1988 and has more than 1,500 members, including 181 governing units which includes all central enterprises and most state-owned EPC companies. "International Project Contracting & Labour Service" is the official publication of CHICA.