Core Viewpoint - The company, China Steel International, is focusing on its core business of engineering procurement and construction (EPC) while expanding into diversified areas such as energy conservation, environmental protection, and intelligent manufacturing, aiming to leverage opportunities in the steel industry for sustainable development [1][3]. Group 1: Business Operations - The company primarily engages in EPC business and does not manufacture equipment, relying on external procurement for project-required equipment [1]. - The company has successfully completed significant milestones in various international projects, including the Simfer project in Australia and the Tosyali steel plant in Algeria, showcasing its capability in managing large-scale projects efficiently [2]. - The company emphasizes the importance of accounts receivable management to enhance cash flow and has set a gross profit margin target of 13.61% for its engineering projects in 2024, reflecting a 6.06% increase from the previous year [3]. Group 2: Market Strategy - The company plans to maintain its internationalization strategy while strengthening risk management, focusing on existing markets and exploring new opportunities in the Middle East and Africa [4]. - The execution cycle for overseas projects is generally longer than domestic ones due to various factors, including differing pre-execution requirements, lower construction efficiency, and longer logistics periods [4].

Group 1 - The company is a leading player in the metallurgical engineering sector, holding approximately 90% of the Chinese market share and nearly 60% of the global market share as of 2022 [1] - The company is undergoing a strategic transformation from traditional metallurgical engineering to infrastructure and emerging markets, with a projected revenue of 552 billion yuan in 2024, a decrease of 12.9%, and a net profit of 6.75 billion yuan, down 22.2% [1] - The low-carbon transition in the metallurgical industry presents development opportunities, with the company actively expanding its non-steel engineering business and leveraging its technological advantages in low-carbon equipment [1] Group 2 - The company is recognized as a key resource enterprise in China, with substantial mineral reserves including 1,795,000 tons of copper, 184,200 tons of nickel, 64,290 tons of zinc, 32,110 tons of lead, and 20,900 tons of cobalt as of the end of 2024 [2] - The demand for the company's metal products, such as copper, nickel, and cobalt, is strong due to the steady growth of downstream industries like electricity and new energy, which is expected to enhance the profitability of its resource segment [2] - The company has two pending production mines with a copper reserve of 1,614,000 tons, which are anticipated to contribute significantly to performance once operational [2]