Investment Rating - The investment rating for the company is "Buy" (maintained) [1][3] Core Insights - The company has a robust order backlog of 2.932 billion yuan as of the end of Q2 2025, with a revenue of 351 million yuan and a net profit of 63.69 million yuan for H1 2025, reflecting year-on-year growth of 2.39% and 6.71% respectively [3] - New business contracts signed in H1 2025 reached 658 million yuan, marking a year-on-year increase of 29.50% [3] - The company is expected to benefit from national strategic projects such as the Yajiang Project and the New Tibet Railway, alongside its proactive embrace of artificial intelligence [3] Financial Performance Summary - For H1 2025, the company achieved a revenue of 351 million yuan, with a net profit of 63.69 million yuan, showing a year-on-year increase of 2.39% and 6.71% respectively [3] - The company’s order backlog at the end of Q2 2025 was 2.932 billion yuan [3] - The revenue forecast for 2025-2027 has been adjusted to 232 million, 262 million, and 300 million yuan respectively, with corresponding PE ratios of 17.0, 15.0, and 13.1 times [3] Market Position and Strategic Focus - The company serves a wide range of sectors including civil construction, energy, industry, transportation, defense, communication, municipal, water conservancy, and new infrastructure projects [4] - The company has successfully entered the consulting intermediary agency database of strategic clients such as China Rare Earth Group and China Power Construction [4] - The company is actively involved in projects related to national strategies like "West-East Power Transmission" and "Carbon Neutrality" [4] Embracing AI Development - The new standards issued by the Ministry of Housing and Urban-Rural Development are expected to drive the engineering cost consulting industry towards a transformation focused on "cost control + data services" [5] - The company’s subsidiary has developed an "Investment Control Platform V1.0," achieving a non-construction party contract signing ratio of 91.84% in H1 2025 [5] - The upcoming "AI Smart Engineering Audit Platform" is recognized as a typical case for AI empowerment in the engineering field [5]
青矩技术（836208）：北交所信息更新：国家战略工程核心服务商，订单饱满+AI工程审计驱动成长