三和管桩：2025年上半年，公司华东地区收入占比49.27%

Core Viewpoint - Sanhe Pile (003037) has diversified its revenue sources, with over 50% coming from industrial projects, while also expanding into real estate, public construction, and photovoltaic projects [1] Revenue Sources - The company's revenue is primarily derived from industrial projects, accounting for more than 50% of total revenue [1] - Significant contributions also come from real estate, public construction, and photovoltaic projects [1] Emerging Applications - In recent years, the company has been expanding into emerging application scenarios such as photovoltaic, wind power, and water conservancy, leading to an optimized revenue structure [1] - By the first half of 2025, photovoltaic piles accounted for 15.63% of the total sales of pile products, while water and wind power piles represented 3.17% and 0.51% respectively [1] Regional Revenue Distribution - The company's revenue is mainly concentrated in the East China and Central South regions, with East China accounting for 49.27% and Central South for 43.78% of total revenue in the first half of 2025 [1] - The company also has business operations in Northeast, North China, Northwest, and overseas regions [1]