中工国际：前三季度国际工程新签合同额18.81亿美元

Core Viewpoint - The company's stock price has remained stagnant in the range of 2010-2011 due to industry valuation pressures and market preferences, despite steady improvements in operational performance and strategic initiatives [1] Group 1: Company Performance - The company has focused on three main business segments: design consulting and engineering contracting, advanced engineering technology equipment development and application, and engineering investment and operation [1] - The company reported a new contract amount of $1.881 billion in international engineering contracting for the first three quarters of 2025, representing a year-on-year growth of 19.58% [1] - The effective contract amount reached $1.621 billion, showing a significant year-on-year increase of over 90%, marking a recent high for the company [1] Group 2: Market and Industry Context - The company's stock price is under pressure due to the construction industry's valuation being at historical low levels, which is influenced by market preferences and industry trends [1] - The company is actively participating in the industrialization process of countries along the Belt and Road Initiative, aligning with national major regional development strategies [1] Group 3: Shareholder Value and Management - The company maintains a high dividend policy, committing to a cash dividend of no less than 40% of the distributable profits for the year [1] - The company has received the highest A-level evaluation from the Shenzhen Stock Exchange for 15 consecutive years, indicating strong disclosure quality [1] - The company has initiated a share buyback program, planning to repurchase between 50 million to 100 million yuan worth of shares, with 550,000 shares already repurchased as of December 1 [1]