Xin Lang Cai Jing·2025-09-01 10:37Core Insights - The company reported a 2025 H1 revenue of 237.53 billion yuan, representing a year-over-year increase of 20.52%, while the net profit attributable to shareholders was 3.10 billion yuan, down 25.31% year-over-year [1] - In Q2 2025, the company experienced a revenue decline of 22.59% to 115.26 billion yuan, with a net profit of 1.49 billion yuan, indicating a challenging operating environment [1] - Overall revenue growth is under pressure due to declining demand in the steel industry, sluggish growth in the construction sector, and significant adjustments in the real estate industry, alongside the company's own transformation efforts [1] Revenue and Profitability - The company's gross profit margin improved to 10.09%, an increase of 1.04 percentage points year-over-year, with specific segments showing growth: engineering contracting at 9.58% (+1.08 pct) and specialty businesses at 17.62% (+0.99 pct) [1] - Operating cash flow also improved year-over-year, indicating better cash management despite revenue challenges [1] Contractual Performance - In H1 2025, the company signed new contracts worth 548.20 billion yuan, a decrease of 19.1% year-over-year, while new overseas contracts amounted to 57.75 billion yuan, reflecting a significant increase of 32.6% [2] - The core business segments, including metallurgical engineering and non-ferrous mining, continue to gain a larger share of new contracts [2] Future Outlook - The company adjusted its revenue forecasts for 2025-2027, expecting revenues of 476.54 billion yuan, 495.13 billion yuan, and 516.54 billion yuan, representing year-over-year growth of 13% [2]