Core Viewpoint - China Energy Construction Anhui Electric Power Construction Company has won the bid for the general contracting of the first section of the Hefei Urban Construction 2025 planned land project, which is expected to enhance living conditions and urban development in the region [1] Project Details - The project is located at the intersection of North Second Ring Road and Tongling North Road in Hefei New Station High-tech Zone, adjacent to the subway Line 3 station [1] - The total construction area is approximately 160,000 to 180,000 square meters, including an underground area of about 55,000 square meters [1] - The project requires an assembly rate of no less than 50% [1] Construction Scope - The company is responsible for the construction of all individual residential buildings, supporting facilities, underground garages, outdoor comprehensive facilities, planning roads outside the red line, and community service facilities [1] Impact on the Region - Upon completion, the project will significantly improve regional living conditions, provide modern and high-quality living spaces, and enhance community functions and road network structure [1] - The project aims to elevate the urban landscape and land utilization efficiency, promoting integrated development and industrial fusion in Hefei New Station District, Feidong Economic Development Zone, and Yaohai Economic Development Zone [1]

Group 1 - China Energy Construction Co., Ltd. (China Energy) experienced a trading volume of 5.99 billion yuan on September 24, with a financing buy-in amount of 1.28 billion yuan and a net financing buy of 2.5965 million yuan [1] - The total financing and securities balance for China Energy reached 13.37 billion yuan, with the financing balance accounting for 1.69% of the circulating market value, indicating a high level compared to the past year [1] - On the same day, China Energy's securities lending saw a repayment of 500 shares and a sell-off of 28,000 shares, with a total sell amount of 68,000 yuan, while the remaining securities lending volume was 2.4845 million shares [1] Group 2 - China Energy was established on December 19, 2014, and went public on September 28, 2021, primarily engaged in construction contract business through five operational departments [2] - The main revenue sources for China Energy include engineering construction (85.81%), with renewable energy and integrated smart energy contributing 32.38%, and other segments such as industrial manufacturing and investment operations also contributing to the revenue [2] - As of June 30, 2025, China Energy reported a revenue of 212.09 billion yuan, reflecting a year-on-year growth of 9.18%, and a net profit attributable to shareholders of 2.802 billion yuan, with a slight increase of 0.72% [3]

Core Points - Zhongneng Construction Biomass Energy (Bozhou) Co., Ltd. has been established with a registered capital of 36.54 million RMB [1] - The company is involved in heat production and supply, biomass energy technology services, and contract energy management [1] - The shareholders include China Energy Construction Group East Construction Investment Co., Ltd., Zhongneng Geothermal Co., Ltd., and Bozhou New Energy Development Co., Ltd. [1] Company Information - The legal representative of the company is Wu Jian [2] - The company is registered in Bozhou, Anhui Province, with a business scope that includes general projects such as heat production and supply, biomass energy technology services, and contract energy management [2] - The company is classified as an "Other Limited Liability Company" and is currently in operation [2] Shareholding Structure - China Energy Construction Group East Construction Investment Co., Ltd. holds a 40% stake, contributing 14.616 million RMB [2] - Zhongneng Geothermal Co., Ltd. owns 35% of the company, with an investment of 12.789 million RMB [2] - Bozhou New Energy Development Co., Ltd. holds a 25% stake, contributing 9.135 million RMB [2]

Core Insights - The world's largest hoisting vertical ship lift, developed by China Energy Construction Corporation's Gezhouba Machinery Company, has been successfully delivered, marking a new height for "Chinese intelligence" in the field of hoisting vertical ship lifts [1][5] Group 1: Project Overview - The Guangxi Baise Water Conservancy Hub Navigation Facility Project is a strategic initiative aimed at resolving the 20-year navigation interruption of the Youjiang River, contributing to the construction of the Western Land-Sea New Corridor and the Pearl River-Xijiang Economic Belt [3] - The project employs a combination mode of "upstream ship lock + long-distance intermediate channel + downstream ship lift," designed to accommodate a navigation standard of 2×500-ton fleets while also considering 1000-ton single vessels, with an annual one-way passing capacity of 6.02 million tons [3] Group 2: Technical Specifications - The Baise ship lift is currently the largest under construction globally and features the longest hoisting chamber in the world, with dimensions of 144 meters in length, 17.2 meters in width, and 11 meters in height, surpassing the Three Gorges ship lift [3] - The effective water area within the hoisting chamber measures 130 meters in length, 12 meters in width, and 3.9 meters in depth, allowing for simultaneous accommodation of two 1500-ton vessels for one-time lifting and lowering [3] Group 3: Engineering Achievements - The main hoisting machine, which serves as the "power hub" of the ship lift, consists of the lifting system, counterweight system, and hoisting chamber, and has received 8 national authorized patents and applied 24 proprietary technologies during its design and manufacturing [5] - The successful delivery of the main hoisting machine will accelerate the construction of the Guangxi Baise Water Conservancy Hub Navigation Facility Project, facilitating the opening of the nearest waterway to the sea for Yunnan and promoting the development of the Pearl River-Xijiang Economic Belt [5]

Group 1 - The 22nd China-ASEAN Expo and China-ASEAN Business and Investment Summit was held in Nanning, Guangxi, with China Energy Construction participating for the 22nd consecutive year [1] - China Energy Construction's exhibition theme was "Green Energy Chain World, Intelligent Creation of the Future," showcasing advanced technologies in large hydropower, clean coal power, compressed air energy storage, and green hydrogen ammonia [1] - The company is implementing the "Four Revolutions, One Cooperation" energy security strategy, focusing on a "30·60" system solution and promoting green low-carbon energy transformation [1] Group 2 - In the energy storage sector, China Energy Construction is a key player in new energy storage engineering and has been recognized as an original technology source by the State-owned Assets Supervision and Administration Commission [1] - The company has completed the world's first 300 MW compressed air energy storage demonstration project, achieving full capacity grid connection and setting multiple world records in power output and efficiency [1] - In the hydrogen energy sector, China Energy Construction has built an integrated industrial ecosystem covering green hydrogen, ammonia, and alcohol, and is involved in the largest green hydrogen ammonia project globally in Jilin [2] Group 3 - China Energy Construction has participated in major national projects such as the Three Gorges Project and the South-to-North Water Diversion Project, completing over 90% of China's power planning consulting and industry standards [3] - The company has achieved significant contributions in various energy sectors, including hydropower, thermal power, and nuclear power, holding multiple world-leading technologies and receiving six national science and technology progress awards [3] - It has established 77 institutions in ASEAN countries, with ongoing project contracts amounting to approximately 90 billion yuan, demonstrating its commitment to international cooperation and sustainable development [2]

Group 1 - The meeting between Liu Hongjian, the Secretary of the Municipal Party Committee, and Ni Zhen, the Deputy Secretary of the Party Committee and General Manager of China Energy Construction Group, highlights the importance of collaboration for economic development in Kunming [3]. - Liu expressed gratitude for China Energy's support in Kunming's economic and social development and emphasized the city's rich green energy resources and solid industrial foundation, indicating broad cooperation potential [3]. - Ni Zhen acknowledged the promising development prospects of Kunming and stated that China Energy would leverage its full industry chain advantages in energy and power infrastructure to deepen practical cooperation across multiple levels and fields, contributing to high-quality economic development in Kunming [3].

转自：新华财经 近日，合肥市城乡建设局公布了合肥市智能建造试点城市龙头骨干企业名单，中国能建安徽电建二公司 榜上有名。 作为中国能建旗下骨干企业，近年来安徽电建二公司始终坚持以科技创新驱动产业升级，围绕"管理数 字化、产业数字化、数字产业化、数据价值化"四大方向，构建了完善的智能建造研发与应用体系。该 公司设立数字化公司、设计咨询公司、基础设施建设事业部等专业机构，拥有专职研发与技术人员60余 人，涵盖软件研发、BIM建模、物联网实施、智能施工等多个方向。 坚持"一体化平台、模块化设计"， 安徽电建二公司不断加强智能建造平台建设，自主研发了"数字化项 目管控平台""AIoT智慧物联网云平台""企业级BIM+智能建造平台""BI数据决策分析平台""小安AI智能 体平台"等多项核心系统，形成"1+2+6+N"数智化架构体系，实现从物联感知、智能预警到决策分析的 全流程数字化管理。 该公司积极推动智能建造技术在火电、核电、燃机、建筑、市政等多业务类型工程项目中的落地应用。 在合肥六中新桥校区、海恒国际体验式商业街区、界首市公共建筑整体推进PPP项目等重点工程建设 中，广泛应用BIM技术、AI视频监控、智能无人升降机 ...

Core Viewpoint - The company reported its 2025 H1 financial results, showing a steady revenue growth but a decline in net profit margins, indicating mixed performance across different business segments [1][3]. Group 1: Financial Performance - In 2025 H1, the company's revenue, net profit attributable to shareholders, and net profit excluding non-recurring items were 212.1 billion, 2.8 billion, and 2.5 billion yuan, respectively, with year-on-year growth rates of +9%, +1%, and +8% [1]. - For Q2 2025, the company reported revenue, net profit attributable to shareholders, and net profit excluding non-recurring items of 111.7 billion, 1.2 billion, and 1.1 billion yuan, with year-on-year changes of +15%, -9%, and -6% [1]. Group 2: Business Segments Performance - The company experienced strong revenue growth in H1 2025 across various segments, with design consulting, engineering construction, investment operations, and industrial manufacturing showing year-on-year increases of +16%, +10%, +16%, and +11%, reaching 9.1 billion, 182.0 billion, 15.2 billion, and 16.2 billion yuan, respectively [2]. - The engineering construction and investment operations segments, particularly in new energy and integrated smart energy, saw revenue growth of +18% and +49%, outperforming other business areas [2]. - The new contract value signed in H1 2025 was 775.4 billion yuan, representing a year-on-year increase of +5%, providing a solid revenue assurance [2]. Group 3: Profitability and Debt Management - The company's overall gross margin in H1 2025 decreased by 0.9 percentage points to 11.3%, with Q2 showing a further decline of 2.3 percentage points to 11.4% [3]. - The gross margins for design consulting, engineering construction, investment operations, and industrial manufacturing were 39.3%, 6.5%, 35.1%, and 16.6%, reflecting year-on-year changes of +2.8%, -0.8%, -8.4%, and -0.7 percentage points, respectively [3]. - The company's asset-liability ratio increased by 0.3 percentage points to 77.7% by the end of H1 2025, indicating a slight rise in leverage [3]. - The turnover days for accounts receivable and inventory improved by 26 days to 259 days, while net cash flows from operating and investing activities were -13.4 billion and -25.5 billion yuan, respectively, both showing year-on-year increases of +1.1 billion [3]. Group 4: Future Outlook - The company maintains its profit forecast, expecting revenues of 475.2 billion, 517.0 billion, and 556.9 billion yuan for 2025-2027, with year-on-year growth rates of +9%, +9%, and +8% [4]. - The projected net profits attributable to shareholders for the same period are 9.2 billion, 10.0 billion, and 11.3 billion yuan, with year-on-year growth rates of +10%, +9%, and +12% [4]. - The company is positioned as a "national team" in energy infrastructure, with emerging businesses in hydrogen and energy storage showing promising growth potential [4].

Core Insights - The SK Hydropower Station in Pakistan has successfully delivered 2.8 billion kilowatt-hours of clean electricity since its commercial operation began on September 14, 2024, marking its first anniversary [1][3] - The project is recognized as a key initiative within the China-Pakistan Economic Corridor, contributing significantly to Pakistan's energy security and reducing reliance on traditional energy sources [3][5] Group 1 - The SK Hydropower Station is the largest hydropower project constructed by China Energy Engineering Corporation overseas and is celebrated as a "green pearl" of the China-Pakistan Economic Corridor [1][3] - The project has established a comprehensive safety management system, achieving a safety goal of "zero accidents, zero losses" during its first year of operation [5] - The hydropower station has created over 6,000 jobs during its construction and continues to provide more than 100 stable employment opportunities during its operational phase [5] Group 2 - The project has actively engaged in social responsibility initiatives, including planting over 150,000 trees, establishing a trout hatchery, and supporting local education and disaster relief efforts [5] - The Pakistani government has recognized the station as an "excellent taxpayer unit," highlighting its contributions to the local economy and community [5] - The project is seen as a vital component in strengthening the China-Pakistan partnership and enhancing cooperation in clean energy development [3][5]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA ENERGY ENGINEERING CORPORATION LIMITED* （在中華人民共和國註冊成立的股份有限公司） （股份代號：3996） 海外監管公告 本公告乃由中國能源建設股份有限公司（「本公司」）根據香港聯合交易所有限公司證券上 市規則第13.10B條作出。 茲載列本公司於上海證券交易所網站刊發的《中國能源建設股份有限公司關於接待機構投 資者調研活動的公告》，僅供參閱。 承董事會命 中國能源建設股份有限公司 副董事長 倪真 中國，北京 2025年9月16日 於本公告日期，本公司執行董事為倪真先生；職工董事為黃埔先生；非執行董事為劉學 詩先生及司欣波先生；及獨立非執行董事為程念高先生、魏偉峰博士、牛向春女士及裴 振江先生。 * 僅供識別 A 股代码：601868 A 股简称：中国能建 公告编号：临 2025-050 H 股代码：03996 H 股简称：中国能源建设 中国能源建设股 ...