CNCEC(SH:601117) Chang Jiang Shang Bao·2025-10-22 23:48Core Viewpoint - China Chemical (601117.SH) continues to expand its global market presence, reporting a slight increase in contract value for the first three quarters of 2025, amounting to approximately 2846 billion yuan, compared to the same period last year [1][2]. Group 1: Financial Performance - In 2024, China Chemical achieved an operating revenue of 1866.13 billion yuan, with the contract value of 2846 billion yuan being approximately 1.53 times its 2024 revenue [2]. - The company has shown steady growth in operating performance, with continuous increases in revenue and net profit from 2018 to 2024 [2][5]. - For the first half of 2025, the company reported an operating revenue of 907.22 billion yuan, remaining stable year-on-year, while the net profit attributable to shareholders was approximately 31 billion yuan, reflecting a year-on-year growth of 9.26% [6]. Group 2: Contract and Business Segments - In the first nine months of 2025, China Chemical signed 3566 contracts with a total value of 2845.61 billion yuan, with the construction engineering contracting business being the core segment [2][3]. - Within the construction engineering sector, the chemical engineering field accounted for 1876 contracts worth 2261.70 billion yuan, representing 52.61% of the total number of new contracts and 79.48% of the total contract value [3]. - The company’s domestic and international contract values were 2309.09 billion yuan and 536.52 billion yuan, respectively, making up 81.15% and 18.85% of the total [3]. Group 3: Research and Development - China Chemical has invested over 60 billion yuan in R&D for both 2023 and 2024, with total R&D investment from 2020 to 2024 amounting to approximately 269 billion yuan [7][9]. - The company holds 5730 authorized patents and 348 proprietary technologies as of June 2025, indicating a strong focus on innovation [9]. - The workforce includes 5824 R&D personnel, accounting for 11.42% of the total staff, highlighting the emphasis on technological advancement [10].