JIANGNAN CHEMICAL(SZ:002226) Zheng Quan Shi Bao Wang·2025-07-31 07:49Core Viewpoint - Jiangnan Chemical (002226) reported a total of RMB 6.238 billion in new contracts for blasting services in the first half of 2025, with significant contributions from major projects, particularly in Xinjiang, indicating strong growth potential and market competitiveness [1][2]. Group 1: Contract Performance - The company signed or commenced execution of blasting service contracts totaling RMB 62.38 billion for the first half of 2025, with 18 major contracts exceeding RMB 100 million amounting to RMB 4.86 billion, representing 77.9% of the total [1]. - Compared to the same period in 2024, the number of major projects (over RMB 100 million) increased by 200%, showcasing the company's enhanced market expansion efforts [2]. Group 2: Regional Focus and Growth - Xinjiang emerged as a key growth area, with 12 out of 18 major projects located there, totaling RMB 3.013 billion, which is approximately 48% of the total new project value [2]. - The company is strategically aligned with the development of Xinjiang as a national coal supply base, with multiple projects in coal mining and metal mining sectors [2]. Group 3: Capacity and Future Outlook - Jiangnan Chemical holds the leading position in the blasting industry in Xinjiang, with an industrial explosive production capacity of 207,500 tons as of the end of 2024 [3]. - The company anticipates significant growth in 2025, with a projected net profit of RMB 300 million for Q2 2025, reflecting a 10% year-on-year increase and a 105% quarter-on-quarter increase [3]. Group 4: Business Expansion and Innovation - The company is implementing a "3+2" strategy to enhance its capabilities in mining construction contracting, with successful acquisition of new projects in the first half of the year [4]. - Jiangnan Chemical signed a major contract worth RMB 800 million for an upgrade project in Namibia, indicating successful international expansion efforts [4]. Group 5: Strategic Acquisitions - The company announced plans to acquire a 51% stake in Ebian Guochang, which is expected to enhance its market presence in the emerging strategic market of Tibet [5].