PCI-STCL(SH:600728) Xin Hua Cai Jing·2025-12-12 09:15Group 1 - The core business of the company is urban cluster three-dimensional transportation, aligning with national policies on new infrastructure and urban renewal [2] - The company is expanding from subways to urban, intercity, and high-speed rail, as well as ground urban transportation and highway networks, with plans to extend into low-altitude fields for comprehensive coverage [2] - The company maintains a research and development investment intensity of no less than 10% of its intelligent revenue annually to establish a first-mover advantage in various sectors [2] Group 2 - The company has introduced a lifecycle approach to construction and operation, using operational data to optimize design parameters and details, which has shown significant efficiency improvements in projects like the Guangzhou and Changsha subways [3] - The overseas market is becoming a crucial growth point for the company, focusing on Southeast Asia and the Middle East, where there are opportunities for both upgrading old lines and constructing new ones [3] - The company anticipates two major trends in the "AI + city" sector over the next 3-5 years: AI will reconstruct traditional processes and operational logic, and the model will shift from "human + machine" to "AI + human" [3]