Shang Hai Zheng Quan Bao·2025-10-11 00:40Core Insights - Two major state-owned enterprises, China Electric Power Construction (China Electric) and China Energy Engineering (China Energy), have made significant progress in their overseas business by signing contracts for renewable energy projects totaling over 10 billion yuan [1][4]. Group 1: Contract Details - China Electric announced that its subsidiary, China Hydropower Construction Group International Engineering Co., Ltd., signed a major contract for the Saudi Afif solar projects, amounting to approximately 11.72 billion yuan [1]. - The contract includes the construction of a 2000MW solar park and associated infrastructure in the Riyadh province of Saudi Arabia, with a construction period of 26 months [1]. - China Energy reported that its consortium signed three contracts for renewable energy projects in Saudi Arabia, with a total value of approximately 19.55 billion yuan [4]. Group 2: Financial Performance - In the first half of the year, China Electric's international business signed new contracts worth 141.67 billion yuan, a year-on-year increase of 17.50%, accounting for 20.63% of the company's total new contracts [4]. - China Energy achieved an operating revenue of 212.09 billion yuan in the first half of the year, a year-on-year increase of 9.18%, with a net profit of 2.80 billion yuan, reflecting a growth of 0.72% [4][7]. - The overseas new contract value for China Energy's renewable energy projects saw a significant increase of 78.6% year-on-year, indicating strong growth in the "wind, solar, hydrogen, and storage" sectors [4][7].