中工国际工程股份有限公司的主营业务是设计咨询与工程承包、先进工程技术装备开发与应用、工程投 资与运营。公司的主要产品是设计咨询与工程承包、先进工程技术装备开发与应用、工程投资与运营。 2025年3月，根据机电商会统计，中工国际在2024年中国企业境外大型成套设备工程项目签约额排行榜 中，位列第13位。2025年5月，中国对外承包工程商会发布了2024年度对外承包工程行业A级企业名 单，公司获评A级企业，并入选年度企业100强，公司在百强中的排名自"十四五"战略实施以来逐年上 升，由2020年度的77位稳步上升到2024年度的第32位。同时，公司还上榜了中国对外承包工程企业2024 年度房建工程30强、亚洲地区30强和拉美地区30强。 最新一期业绩显示，2025年三季报，公司实现营业收入71.25亿元，同比减少17.25%；净利润2.47亿 元，同比减少23.68%，销售毛利率18.57%。 股东方面，截至2025年9月30日，中工国际股东户数49362户，较上次减少4949户，户均持股市值35.28 万元，户均持股数量2.76万股。 交易所数据显示，11月24日，中工国际收盘8.91元，上涨4.09%，滚动市 ...

Investment Rating - The report maintains a "Buy" rating for China State Construction Engineering Corporation (601668) [1] Core Views - The Q3 earnings of the company are under pressure, with a notable decline in revenue and net profit, primarily due to the ongoing adjustment in the real estate market and a slowdown in infrastructure investment growth [7] - Despite the challenges, the company has shown strong performance in overseas revenue and specific segments, with new contract signings in industrial plants and energy engineering experiencing significant growth [7] - The company is expected to maintain a stable dividend policy, with projected earnings per share (EPS) for 2025 at 1.11 yuan, corresponding to a price-to-earnings (P/E) ratio of 4.87 [1][7] Financial Performance Summary - For the first three quarters of 2025, the company reported total revenue of 155.82 billion yuan, a year-on-year decrease of 4.2%, and a net profit attributable to shareholders of 38.18 billion yuan, down 3.8% [7] - In Q3 alone, revenue was 44.99 billion yuan, reflecting a 6.6% decline year-on-year, while net profit dropped by 24.1% to 7.78 billion yuan [7] - The gross margin for Q3 was 7.0%, a decrease of 0.4 percentage points year-on-year, primarily impacted by the real estate development business [7] Order and Contract Performance - The company achieved new contract signings of 3.29 trillion yuan in the first three quarters, representing a year-on-year increase of 1.4%, with the construction business contributing 3.04 trillion yuan, up 1.7% [7] - Notable growth was observed in specific sectors, with industrial plant contracts increasing by 23.0% to 640.5 billion yuan, and energy engineering contracts rising by 31.2% to 441.9 billion yuan [7] Cash Flow and Financial Stability - The company reported a net cash outflow from operating activities of 69.5 billion yuan for the first three quarters, showing a slight improvement compared to the previous year [7] - The asset-liability ratio stood at 76.1% at the end of Q3, reflecting a year-on-year decrease of 0.1 percentage points [7]

Group 1 - The stock price of China Metallurgical Group Corporation (China MCC) closed at 2.94 yuan on June 13, 2025, down 0.34% from the previous week [1] - The total market capitalization of China MCC is 609.27 billion yuan, ranking 1st in the professional engineering sector and 220th among A-shares [1] - The company signed new contracts worth 396.01 billion yuan from January to May 2025, a decrease of 22.2% year-on-year [1] Group 2 - The overseas contract amount for the same period was 28.3 billion yuan, an increase of 9.8% year-on-year [1] - Significant contracts signed in May include: - China Huaye Science and Technology Group for a 2.27 billion yuan project [1] - Shanghai Baoye Group for a 2.07 billion yuan project [1] - Shanghai Baoye Group for a 1.90 billion yuan project [1] - China 22nd Metallurgical Group for a 1.57 billion yuan project [1] - China Wuyi Group for a 1.27 billion yuan project [1] - MCC Northern Engineering Technology for a 1.08 billion yuan project [1]