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FINWIRES

Sinoma International Engineering Logs 8% Decline in Q1 Newly Signed Contracts

-- Sinoma International Engineering (SHA:600970) reported newly signed contracts of 25.5 billion yuan in the first quarter, down 8% from the previous year, according to a Tuesday filing with the Shanghai bourse.

Engineering technical services contracts declined 13% year over year to 18.2 billion yuan and high-end equipment manufacturing contracts fell 16% to 2.43 billion yuan.

Meanwhile, production operation services contracts rose 12% to 4.25 billion yuan and other contracts jumped 89% to 703.5 million yuan.

Shares of the engineering company rose 2% in recent trade.

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