Core Viewpoint - The company has secured a significant subcontract for the Saudi Qiddiya Cultural and Arts Center project, valued at 650 million Saudi Riyals (approximately 1.23 billion RMB), which represents 6.7% of its latest audited revenue [1] Group 1: Recent Contracts and Projects - The Qiddiya project marks another major breakthrough for the company in the Middle East, expected to positively impact future performance [1] - Previous contracts include a 1.17 billion USD (approximately 844 million RMB) subcontract for the Dammam Stadium project signed in June 2024 [1] - In July 2025, the company announced a subcontract for the Jeddah Stadium and surrounding sports village project, valued at 290 million Saudi Riyals (approximately 550 million RMB) [1] - The company also signed a contract for the renovation of the King Fahd Stadium's steel structure in March 2025 [1] Group 2: Company Performance and Financials - For the first nine months of 2025, the company signed 533 new contracts with a total value of 17.98 billion RMB, reflecting a year-on-year growth of 4.8% [4] - In the third quarter of 2025, the company signed 173 new contracts worth 5.47 billion RMB, showing an 11.2% increase year-on-year [4] - The company's steel structure sales reached 1.18 million tons in the first nine months of 2025, a 34.6% increase compared to the previous year [4] - In the third quarter of 2025, steel structure sales were 345,000 tons, marking an 11.8% year-on-year growth [4] Group 3: Company Background - Established in 1999, the company is a comprehensive steel structure service provider, involved in research, design, manufacturing, and construction [2] - The company has completed over 600 landmark projects, including the National Stadium "Bird's Nest" and the Lusail Stadium for the 2022 Qatar World Cup [2]

Group 1 - China Petroleum Engineering has secured a significant contract in the Middle East, specifically for the construction of a gas processing facility in Iraq, with a contract value of approximately $1.601 billion (about 11.538 billion RMB) [2][7] - The project involves the construction of a gas processing facility with a daily processing capacity of 320 million standard cubic feet (MMSCFD) [2][7] - This contract marks the second major order won by China Petroleum Engineering in the Middle East this year, following a previous LNG pipeline project in Abu Dhabi valued at 3.761 billion RMB [7] Group 2 - In 2024, China Petroleum Engineering achieved a cumulative new contract amount of 125.076 billion RMB, representing a year-on-year increase of 14.39%, setting a historical record [7] - The new contracts include 87.956 billion RMB from the domestic market and 37.120 billion RMB from the overseas market, accounting for 70.32% and 29.68% respectively [7] Group 3 - Despite a strong order book, the company's recent financial report indicates pressure on its business, with a first-quarter revenue of 17.129 billion RMB, a year-on-year increase of 16.26%, but a net profit attributable to shareholders of 194 million RMB, down 19.82% year-on-year [9][10] - The decline in profit is attributed to a decrease in gross margin in the pipeline and storage business segment, as well as slower-than-expected progress on claims for some overseas projects [10]