Group 1: Company Overview and Performance - The subsidiary Beiqi Institute is a leading enterprise in China's hoisting and transportation machinery industry, with advanced technology in detachable cableway systems [4] - Beiqi Institute has maintained the highest market share in passenger cableway business domestically and was recognized as a national manufacturing single champion enterprise in 2022 [4] - Since its restructuring into Zhonggong International, Beiqi Institute has achieved significant breakthroughs in business integration and overseas market collaboration, with a revenue exceeding 1 billion in 2021 and a profit total surpassing 100 million in 2023, doubling profits over three years [4] Group 2: Impact of Policies on Business - The State Council's policies promoting large-scale equipment updates and consumer goods replacement are expected to enhance equipment quality and stimulate effective investment, providing more business opportunities for the company's manufacturing sector [5] Group 3: Internationalization and Market Expansion - The company has established over 60 overseas branches, operating in more than 100 countries, primarily along the Belt and Road Initiative [6][7] - In 2024, the international business proportion is projected to increase by 221.54%, with new market developments in Nepal, Japan, and Brazil [8] Group 4: Future Growth Drivers - The overseas business remains a crucial growth engine, with new contract amounts increasing by over 30% and effective contract amounts rising by over 25% in Q1 2025 [10] - The company plans to enhance its EPC project model and focus on strategic emerging industries, including high-end equipment manufacturing and clean energy, to create stable revenue streams [10] - Investments in environmental projects include two solid waste treatment projects and eight wastewater treatment projects, with a total investment of approximately $475 million in waste-to-energy plants in Uzbekistan [10]

证券代码：002051 证券简称：中工国际 中工国际工程股份有限公司投资者关系活动记录表 编号：2025-005 投资者关系活动类别 □√ 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他（电话交流会议） 参与单位名称 华福证券、东兴证券、华林证券、诚通证券、中邮证券、联储 证券、北京量化投资、北京盈领资本、进门财经 时间 2025 年 6 月 25 日 地点 中工国际会议室 上市公司接待人员姓 名 董事会秘书芮红、证券事务代表周辉 投资者关系活动主要 内容介绍 公司和投资者就经营情况等进行了交流。 本次投资者活动没有发生未公开重大信息泄密的情况。 附件清单（如有） 投资者关系活动记录 日期 2025 年 6 月 26 日 附件： 中工国际工程股份有限公司投资者关系活动记录 2025 年 6 月 25 日 问题1：公司今年经营情况如何？ 2 回答：2025年，公司开局良好。第一季度实现开门红，营业收入21.83亿 元，归属于上市公司股东的净利润1.31亿元，同比增长12.17%，经营活动现金 流净额同比大幅度改善；国际工程承包业务新签合同额6.99亿美元，同比 ...

Group 1 - The core viewpoint of the news highlights that Zhonggong International's stock price has increased by 10.05% to 8.87 yuan, with a rolling PE ratio of 29.23, marking a new low in 75 days, and a total market capitalization of 10.976 billion yuan [1] - The average PE ratio for the engineering construction industry is 13.21, with a median of 20.29, placing Zhonggong International at the 50th position within the industry [1] - As of March 31, 2025, Zhonggong International has 52,222 shareholders, an increase of 1,802 from the previous count, with an average holding value of 352,800 yuan and an average shareholding of 27,600 shares [1] Group 2 - Zhonggong International's main business includes design consulting and engineering contracting, advanced engineering technology equipment development and application, and engineering investment and operation [1] - The company has received over 300 national and provincial-level scientific and technological achievement awards and holds a national-level first-class engineering design qualification for cableway [1] - The latest quarterly report for Q1 2025 shows that the company achieved an operating income of 2.183 billion yuan, a year-on-year decrease of 7.61%, and a net profit of 131 million yuan, a year-on-year increase of 12.17%, with a sales gross margin of 19.72% [1]

Contract Overview - The company signed a business contract with Kazakhstan Soda LLC for the second phase of a 500,000 tons per year soda ash plant project during the Second China-Central Asia Summit [1][2] - The total contract amount for both segments is approximately $337.5 million, with segment one valued at $192.7 million and segment two at $144.8 million [2][3] Project Details - The project is located in Zhanatas, Kazakhstan, and includes the construction of a soda ash production facility, which encompasses production areas, brine extraction zones, limestone mining areas, and residential facilities [2] - The contract stipulates a maximum construction period of 1,262 days [2][3] Financial Impact - The total contract amount translates to approximately ¥242.14 million, representing 19.83% of the company's projected total revenue of ¥1,220.8 million for 2024 [4] - The execution of this contract is expected to positively impact the company's operational performance over the next four years [4] Strategic Importance - The project aligns with the company's strategic plan for the "14th Five-Year Plan," focusing on expanding market share in countries along the "Belt and Road" initiative [4] - The company has established a strong presence in the Central Asian market, with multiple ongoing significant projects [4]

Core Viewpoint - 中工国际 has signed a significant overseas contract worth $337 million for a soda ash plant project in Kazakhstan, reflecting its strategic expansion in emerging markets and strong performance in international engineering contracting [1][2][3]. Group 1: Contract Details - The contract signed with Kazakhstan Soda LLC is for the second phase of a soda ash plant project in the Zhambyl region, with a total value of $337 million, approximately 242.1 million yuan [1][2]. - The project is part of a broader strategy to enhance the company's presence in Central Asia, where it has multiple ongoing projects [3]. Group 2: Financial Performance - In 2024, the company's overseas revenue reached 8.263 billion yuan, a year-on-year increase of 17.53%, accounting for 67.69% of total revenue [4]. - The company reported a slight decline in domestic revenue, which fell by 25.69% to 3.944 billion yuan, making up 32.31% of total revenue [4]. - For the first quarter of 2025, the company achieved a revenue of 2.183 billion yuan, a decrease of 7.61% year-on-year, while net profit increased by 12.17% to 131 million yuan [4]. Group 3: Market Expansion - 中工国际 has been actively expanding into new markets along the Belt and Road Initiative, securing contracts in Iraq, Nicaragua, and Kazakhstan, which have contributed to its revenue growth [5]. - The company has signed a total of $3.39 billion in new contracts in 2024, marking a 7.4% increase year-on-year, with international engineering contracts amounting to $2.411 billion, up 4.42% [5].

Core Viewpoint - Company signed a significant contract worth $337 million with Kazakhstan Soda Company for a soda ash plant project, which will contribute approximately 19.83% to its 2024 revenue [1] Group 1: Contract and Project Details - The contract involves the construction of a soda ash production facility with an annual capacity of 500,000 tons, located in Zhanatas, Kazakhstan [1] - The project includes various components such as production area, brine extraction area, limestone mining area, and residential facilities, with a contract duration of no more than 1262 days [1] Group 2: Financial Performance - In Q1 2025, the company achieved a new contract amount of $699 million in international engineering contracting, a year-on-year increase of 30.65% [2] - The company's total revenue for 2024 was approximately 12.21 billion yuan, a slight decrease of 1.27% year-on-year, while net profit increased by 0.22% to 361 million yuan [2] - By Q1 2025, the company's revenue and net profit were 2.183 billion yuan and 131 million yuan, reflecting year-on-year changes of -7.61% and 12.17%, respectively [2] Group 3: International Market Contribution - The contribution of overseas markets to the company's revenue has significantly increased, with overseas revenue reaching 8.263 billion yuan in 2024, accounting for 67.69% of total revenue [2] - The company's contract liabilities reached 4.083 billion yuan by the end of Q1 2025, a year-on-year increase of 17.24% [2] Group 4: Research and Development - The company has emphasized technological innovation, with R&D expenses totaling 1.482 billion yuan from 2022 to 2024 [3] - In 2024, the company applied for 119 patents, including 35 invention patents, and registered 20 software copyrights [3]

证券代码：002051 证券简称：中工国际 公告编号：2025－032 中工国际工程股份有限公司重大合同公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1、哈萨克斯坦江布尔州年产 50 万吨纯碱厂项目二期（一标段和 二标段）商务合同需收到预付款并落实融资，能否履行、履行时间及 履行金额具有不确定性，合同履行前对公司经营成果不会产生影响。 2、本项目存在因法律法规、原材料价格、政治社会环境、融资等 因素发生变化而影响合同执行和项目收益的风险。 一、合同签署概况 2025 年 6 月 17 日，中工国际工程股份有限公司（以下简称中工 国际或公司）与哈萨克斯坦苏打有限责任公司（以下简称哈萨克苏打 公司）在第二届中国-中亚峰会上签署了哈萨克斯坦江布尔州年产 50 万吨纯碱厂项目二期（一标段和二标段）商务合同。 哈萨克斯坦江布尔州年产 50 万吨纯碱厂项目二期一标段合同金 额为 192,703,772.10 美元，二标段合同金额为 144,794,565.07 美元， 两个标段合同总金额为 337,498,337.17 美元。项目位于哈萨克斯坦江 布尔 ...

Group 1: Core Insights - Company signed a business contract for the second phase of a 500,000-ton soda ash plant project in Kazakhstan, totaling $337 million, equivalent to approximately 2.421 billion RMB, marking a significant milestone in deepening its presence in Central Asia [1] - The project aligns with the summit's core themes of "economic diversification" and "building a community of shared future," showcasing the company's commitment to supporting modernization in Central Asia [1][2] - The company has undertaken various projects in Central Asia, including a PVC production complex in Uzbekistan, which has been operational for six years, producing 100,000 tons of PVC and 300,000 tons of methanol annually, creating over 900 jobs [4] Group 2: Economic Diversification Efforts - The company is implementing multiple projects across industrial, oil and gas, and civil construction sectors to address the challenges of single industrial structures and weak industrial foundations in Central Asian countries [2] - The soda ash plant will end Kazakhstan's reliance on imported soda ash, becoming the largest fine chemical production facility in the country and contributing to the industrial chain [2] Group 3: Technological and Environmental Initiatives - The company is leading regional green transformation through innovative technologies, with two waste-to-energy projects in Uzbekistan expected to generate 840 million kWh annually, reducing coal consumption by over 90,000 tons [5] - The nitric acid project in Uzbekistan, producing 500,000 tons of 98% concentrated nitric acid annually, addresses local production shortages and creates job opportunities [7] Group 4: Cultural and Collaborative Projects - The company is involved in significant projects that symbolize friendship and cooperation, such as the government office building in Tajikistan, which integrates local architectural styles with Chinese technology [8] - The Olympic City project in Uzbekistan, the largest sports complex in Central Asia, is nearing completion and represents a major collaboration between China and Uzbekistan [8][10] Group 5: Future Prospects - The company’s comprehensive advantages in the entire industry chain are expected to find broader development opportunities in Central Asia following the China-Central Asia Summit [10] - The company continues to uphold its mission of creating value in Chinese engineering and contributing to the well-being of local communities through high-standard, sustainable projects [10]

Core Insights - Company signed a business contract with Kazakhstan Soda LLC for the second phase of a 500,000 tons per year soda ash plant project in Kazakhstan, with a total contract value of $337 million, equivalent to approximately 2.421 billion RMB [1] - The project includes the construction of a soda ash production facility and associated infrastructure, with a contract duration not exceeding 1262 days [1][2] - The project is part of the company's strategy to expand its presence in Central Asia and aligns with its "14th Five-Year Plan" to enhance third-party market cooperation [3] Financial Performance - The company reported a 7.4% year-on-year increase in new overseas contracts, totaling $3.39 billion for 2024, with international engineering contracting new contracts amounting to $2.411 billion, a 4.42% increase [2] - In Q1 2025, the company achieved a 30.65% year-on-year growth in new international engineering contracting contracts, amounting to $699 million [2] - The contract value of $337 million represents 19.83% of the company's projected total revenue for 2024, indicating a significant positive impact on future operating performance [3] Market Strategy - The company is focusing on key markets in the Middle East, Central Asia, Southeast Asia, and Latin America, with ongoing project development in countries like Guyana and Nicaragua [2] - The execution of the second phase of the soda ash plant project will strengthen the company's professional advantages in industrial engineering within the Central Asian region [3]

Summary of Zhonggong International Conference Call Company Overview - Zhonggong International focuses on overseas markets with stable political environments and strong demand, particularly in regions like the Middle East, Central Asia, Southeast Asia, and Latin America [2][3] - The company has signed six overseas medical projects in collaboration with China Zhongyuan, leveraging design capabilities and international operational advantages to enhance its global market position [2][3] Key Points and Arguments Financial Performance - In Q1 2025, Zhonggong International achieved a net profit growth of over 12% year-on-year, with effective contracts increasing by 25% [3] - The company’s success is attributed to rolling development in key regions, such as the Nicaragua Hondaviet Airport project, which is the first RMB sovereign commercial loan project in Latin America [3] Strategic Expansion - Zhonggong International is diversifying into new sectors, particularly in oil and gas, with a focus on projects in Iraq and plans to expand into Oman and Algeria [2][4] - The company has also made significant progress in hospital construction, signing contracts for six hospitals across Asia, Africa, and Latin America [4][5] Collaboration with China Zhongyuan - The partnership with China Zhongyuan enhances the company's competitive edge in hospital design and construction, with a notable efficiency in project execution [5][7] - China Zhongyuan has designed a quarter of the top 100 hospitals in China, providing a strong foundation for international expansion [7] Equipment Manufacturing Sector - The equipment manufacturing segment, particularly the cableway products, has a domestic market share exceeding 70% and is expanding into Russian-speaking regions, Brazil, and Japan [8][9] - The company plans to strengthen its international presence, with a target of signing 15-16 cableway projects abroad, contributing nearly 20% to revenue [9] Market Development in Central Asia - The Central Asia region is a strategic focus due to its stable political relations with China and economic growth, with ongoing projects in waste-to-energy and chemical plants [12] - The company aims to deepen its engagement in this region, capitalizing on favorable conditions [12] Oil and Gas Sector Outlook - Despite oil price fluctuations, there is a continued need for oil and gas development in countries like Iraq, which heavily rely on oil for fiscal revenue [13][14] - The establishment of a dedicated engineering division for oil and gas projects indicates a commitment to expanding this sector [14] Shareholder and Market Value Management - Zhonggong International maintains a high dividend payout ratio, exceeding 40% of net profit attributable to shareholders, and has a three-year shareholder return plan [15] - The company actively engages with investors to improve market value management performance [15] Technological Innovation and National Reform - The company has become a high-tech enterprise, with ten subsidiaries recognized for their technological advancements and patent achievements [16][17] - Recent reforms focus on enhancing technological innovation, with measures in place to incentivize employees and promote the transformation of technological achievements into business growth [18][19] Additional Important Insights - The collaboration model with China Zhongyuan not only enhances competitiveness but also establishes a replicable development advantage in medical construction [6] - The company’s strategic focus on sustainable operations and international market expansion is expected to drive future growth [9][10]