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]

Financial Performance - In Q1 2025, the company achieved a revenue of 2.183 billion yuan, with a net profit of 131 million yuan, reflecting a year-on-year growth of 12.17% [2] - The new contract value for international engineering contracting reached 699 million USD, a year-on-year increase of 30.65% [2] - The effective contract value for international engineering contracting was 684 million USD, up by 25.27% year-on-year [2] Project Development - The company has successfully developed key projects in Central Asia, including a 500,000 tons/year soda ash plant in Kazakhstan and waste-to-energy plants in Uzbekistan [2][4] - In the Middle East, projects include a 100-bed hospital in Iraq and the Tuz Lake gas storage project in Turkey [2] - In Latin America, the company facilitated the first sovereign commercial loan financing in RMB for the Nicaragua International Airport project [2] Financing Innovation - The company maintains a low asset-liability ratio compared to the industry average and has diverse financing channels [5] - Notable projects include the first RMB sovereign commercial loan project in Uzbekistan and the largest soda ash plant project in Central Asia, which received two awards for financing excellence [5] Engineering Investment and Operations - The company focuses on three main areas: environmental protection, cableway, and clean energy [6] - As of the end of 2024, the wastewater treatment capacity reached 280,000 tons/day, doubling from the end of 2023 [6] - The company plans to invest approximately 475 million USD in two waste-to-energy projects in Uzbekistan [6] Market Strategy - The company targets stable political regions and high-demand markets while reinforcing traditional markets [7] - Key focus areas include oil and gas, cableway, logistics, and healthcare projects along the Belt and Road Initiative [7]

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]

中工国际（002051）公告，2025年6月17日，公司与哈萨克斯坦苏打有限责任公司在第二届中国-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。其中，一标段 合同金额为1.93亿美元，二标段合同金额为1.45亿美元，两个标段合同总金额为3.37亿美元，折合人民 币约24.21亿元。项目内容为建设一座年产50万吨的纯碱生产工厂，包括纯碱工艺生产区、盐卤采卤 区、石灰石采矿区和生活住宅区等配套设施，工作范围包括设计、采购、施工和调试服务。合同工期不 超过1262天，自开工通知发出之日起计算。合同的履行将对公司以后四年的经营业绩产生积极影响，影 响金额以经审计数据为准。 ...