Shang Hai Zheng Quan Bao·2025-10-11 00:38Core Viewpoint - Two major state-owned enterprises in China, 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 signed a major contract worth approximately 11.72 billion yuan for solar projects in Saudi Arabia, specifically the Afif 1 and Afif 2 photovoltaic projects [1]. - The contract includes the construction of a 2000MW solar field and associated infrastructure, with a construction period of 26 months [1]. - China Energy signed three contracts for renewable energy projects in Saudi Arabia, totaling approximately 27.45 billion USD (about 195.54 billion yuan) [4][6]. 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 reported a 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, up 0.72% [6]. - The overseas new contract amount for China Energy's energy and power infrastructure construction exceeded 80%, with significant growth in new energy businesses such as wind and solar [6].