9月2日，海太长江隧道"江海号"盾构机顺利穿过新通海沙围堤，掘进施工由陆域段转入长江水域段，标 志着这条世界最长公路水下盾构隧道进入最关键、难度最高的核心施工阶段。 为应对长距离、高水压、大埋深带来的挑战，项目团队对盾构机各项性能进行了全面强化，大幅提升其 在高水压条件下的可靠性。施工过程中，项目团队依托搭建的"数字盾构"与"盾构智慧管控中心"系统， 对掘进关键参数、注浆质量、油脂状态、主驱动密封性能及刀具磨损情况实行全天候监控，实时掌握盾 构机运行状态、周边环境变化等，并建立自动预警机制。这一智能化管控体系实现了对海量数据 （603138）的实时分析与自主决策，有助于精准指导施工参数调整，保障安全、高效掘进。 视频剪辑笪越 目前，"江海号"盾构机掘进里程已超1500米，整机运行状态良好，正以日均12米至16米速度向苏州太仓 方向掘进。进入长江水域段后，"江海号"还需完成剩余约8公里的独头掘进任务。8月份以来，项目团队 提前对盾构设备等进行全面检修与状态评估，重点对刀盘、刀具等关键部件进行了专项检测与维修更 换，全面保障盾构机的掘进性能。同时，邀请专家组赴现场对盾构机整体状态进行综合研判与状态验 收，确保满足 ...

Core Viewpoint - The Shanghai Tunnel Engineering Co., Ltd. reported a decrease in revenue and profit for the first half of 2025, with a focus on maintaining operational stability and exploring new business opportunities in infrastructure and digital solutions [1][2]. Financial Performance - The company's total revenue for the first half of 2025 was approximately 22.02 billion RMB, a decrease of 21.47% compared to the same period last year [2]. - The total profit for the period was approximately 1.02 billion RMB, down 17.71% year-on-year [2]. - The net profit attributable to shareholders was approximately 680.15 million RMB, showing a slight increase of 0.21% [2]. - The company proposed a cash dividend of 0.80 RMB per 10 shares, amounting to a total distribution of approximately 251.53 million RMB, which is 37.71% of the net profit [1]. Business Segments - The company operates in various sectors, including infrastructure construction, design services, and urban operations [3][4]. - The construction segment generated approximately 18.56 billion RMB in revenue, with a gross margin of 11.13%, but saw a decrease in revenue by 24.01% year-on-year [3]. - The design services segment reported revenue of approximately 526.31 million RMB, down 26.49% from the previous year [3]. - The infrastructure operation business generated approximately 1.52 billion RMB, with a gross margin increase of 21.91% [3]. Strategic Initiatives - The company is actively involved in PPP and BOT projects, with 52 ongoing projects in various stages of development [4][5]. - The company has established a digital information division that focuses on smart city solutions and digital infrastructure management [6][7]. - The company is also expanding its financing leasing and factoring services, targeting the infrastructure sector [8][9]. Market Position and Competitiveness - The company has a strong market presence in the construction and design of large-scale infrastructure projects, including tunnels and railways, with over 32 major tunnel projects completed [4][10]. - The company has received numerous patents and awards for its innovative technologies in tunnel construction and safety management [15]. - The company aims to enhance its competitive edge through digital transformation and the integration of advanced technologies in its operations [11][12].