Investment Rating - The industry investment rating is "Positive" and is maintained [9] Core Viewpoints - Recent discussions between the US and Russia have reached a consensus, which is expected to benefit international engineering projects. The focus is on the reconstruction of Ukraine, which may drive infrastructure-related demand [2][8] - The reconstruction needs of Ukraine are estimated at 80 billion [8][10] Summary by Relevant Sections Event Description - The recent international engineering projects have gained significant attention due to the ongoing geopolitical developments [6] Event Commentary - The US and Russia have agreed to appoint teams to work towards ending the Ukraine conflict and restoring embassy staff configurations. This is seen as a first step towards resolving the crisis [7][9] - The reconstruction of Ukraine is anticipated to stimulate demand for infrastructure projects, particularly in housing, transportation, and energy sectors [10][11] Company Focus - Key companies that may benefit from this situation include: 1. China Steel International, which signed a contract for a 5 million tons/year project in Ukraine, with overseas revenue of 9.73 billion yuan in 2023, accounting for 36.9% of total revenue [8] 2. China National Materials, with overseas revenue of 20.09 billion yuan in 2023, representing 43.9% of total revenue [8] 3. Northern International, focusing on "Belt and Road" countries, with overseas revenue of 12.69 billion yuan in 2023, making up 59.1% of total revenue [8] 4. China Chemical, which previously won a contract for a significant project in Ukraine, with overseas revenue of 35.53 billion yuan in 2023, accounting for 19.8% of total revenue [8] 5. Other major construction companies like China State Construction, China Communications Construction, and China Railway Construction may also have opportunities in the region [8]
建筑与工程：美俄会谈达成共识，国际工程有望受益
长江证券·2025-02-27 01:43