围绕"3+2+1"现代化产业体系，如东借"招引东风"绘制"产业链宏伟蓝图"，精准谋划招引优质的前 延后伸配套项目、关联项目。今年以来，全县累计实际使用外资9424万美元，总量位列南通前列；累计 新签约并注册亿元以上项目32个，其中5亿元以上项目13个，完成3000万美元以上项目4个。 项目为王，招商为先，环境为要。南通市政协副主席、如东县委书记陈慧宇表示，如东将持续当 好"无事不扰、有求必应"的"店小二"，争取更多有利于科技创新、结构优化、产业升级的大项目、好项 目，推动协议项目尽快签约、签约项目尽早落地，深入谋划推动，全面掀起大抓项目、大抓招商的招商 攻势，为如东高质量发展注入强劲动力。 今年以来，如东以突破高端海洋工程装备制造、高性能涉海材料应用、海洋生物医药研发以及配套 海洋生产性服务业为招商重点，产业结构合理、创新能力突出的现代海洋产业集群加快形成。去年落户 如东洋口港的亚达绿能科技有限公司一期尚未投产，二期即将开工。"我们现在订单爆满，正着手扩大 产能。"该公司技术副总韩非告诉记者。 海洋经济的先发优势，成为吸引企业投资如东的强磁场。日前，东方电气在如东投资东峡（江苏） 智慧能源产业园项目，建成后将 ...

Core Viewpoint - The development of emerging marine industries is showing a positive trend, with significant growth in marine engineering equipment manufacturing and new orders in the first quarter [1] Group 1: Industry Performance - The marine engineering equipment manufacturing industry has maintained rapid growth, with new orders increasing by 57.1% year-on-year [1] - Significant advancements have been made in the manufacturing of new marine engineering equipment in sectors such as marine oil and gas and offshore wind power [1]

Group 1 - The speech by General Secretary Xi Jinping emphasizes the importance of high-quality development and encourages workers to contribute to national rejuvenation through innovation and dedication [1][2] - The call for a skilled, knowledgeable, and innovative workforce aligns with the demands of the new technological revolution and industrial transformation [2][3] - The promotion of labor spirit, craftsmanship, and respect for knowledge and talent is highlighted as essential for fostering a positive social atmosphere [2][3] Group 2 - Labor models and advanced workers are actively engaging in their roles, demonstrating commitment to their industries even during holidays [2][3] - The integration of modern technologies such as satellite positioning and IoT in agricultural machinery is being explored to enhance efficiency and address existing challenges [2][3] - The emphasis on continuous learning and skill improvement among workers is crucial for building a robust labor force capable of meeting future challenges [2][3][4]

Financial Data and Key Metrics Changes - The company reported revenue of $189 million for Q1 2025, an increase of over 17% compared to the previous year [15][24] - Adjusted EBITDA doubled to $8.2 million, with an adjusted EBITDA margin improving by 180 basis points to 4.3% [15][18] - Consolidated gross profit margin increased to $23 million, or 12.2% of revenue, up from 9.7% in the same period last year [15][16] - Adjusted net income was $300,000, or $0.01 per diluted share, compared to an adjusted net loss of $3.6 million, or $0.11 per diluted share, in the prior year [17] Business Line Data and Key Metrics Changes - Marine revenue increased over 19%, while concrete revenue rose by 13% [15][16] - Adjusted EBITDA margin in the Marine segment was 8.6%, compared to 0.9% last year, while the Concrete segment's adjusted EBITDA margin was negative 4.4%, down from positive 5.7% in the prior year [18] - The company secured $350 million in new project wins, with $161 million in marine and $188 million in concrete [9][10] Market Data and Key Metrics Changes - The company has a backlog of $890 million, with $607 million related to the Marine segment and $232 million to the Concrete segment [20] - The company has seen no pullback in market opportunities, with strong demand in the data center market and ongoing projects [12][13] Company Strategy and Development Direction - The company is focused on building a profitable backlog from a strong pipeline of opportunities, with a goal to generate adjusted EBITDA margins in the low double digits for Marine and high single digits for Concrete [19][24] - The company is consolidating its Houston area offices to enhance operational efficiency and reduce costs [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong project wins and a favorable operating environment due to government policies supporting domestic industrial growth [9][13] - The company reiterated its guidance for full-year 2025 revenue in the range of $800 million to $850 million, with adjusted EBITDA between $42 million and $46 million [24] Other Important Information - The company reported negative cash flow from operations of $3.4 million, an improvement from negative $22.8 million in the prior year [20][21] - The company has no outstanding borrowings under its revolving credit facility and maintains a strong balance sheet to support future growth [55] Q&A Session Summary Question: Outlook on defense spending and RFPs - Management expects awards to materialize late this year or early next year, with potential project sizes around $500 million [30] Question: Outlook for concrete business - Management has not seen a slowdown in bidding activity and expects margin improvements as the year progresses [31][33] Question: Activity in private downstream energy markets - Management is optimistic about increased activity in petrochemical projects, influenced by rising global oil prices [34] Question: Marine segment margins - Management noted strong margins in the Marine segment due to successful project execution, with expectations for continued growth [41] Question: Competitive advantages in uncertain environments - The company benefits from strong supplier relationships and proactive tariff mitigation strategies [46] Question: Concrete segment profitability outlook - Management anticipates a return to profitability in the Concrete segment as seasonal factors improve [50] Question: Balance sheet and capital position for future projects - The company has sufficient capacity to support project mobilization and growth, with ongoing discussions with financing partners [55]

一季度，沿海地方和涉海部门深入贯彻落实党中央、国务院决策部署，坚持稳中求进工作总基调， 完整准确全面贯彻新发展理念，加快构建新发展格局，扎实推动海洋经济高质量发展，海洋资源保供水 平持续增强，新质生产力加快形成，海洋对外贸易总体平稳。初步核算，一季度海洋生产总值2.5万亿 元，同比增长5.7%，高于国内生产总值增速0.3个百分点。 绿色低碳技术助力海洋经济高质量发展。绿色船舶技术研发持续推进，绿色船用发动机研制取得新 进展，世界最大功率甲醇双燃料船用主机、首型高替代率甲醇燃料船用中速机正式交付，进一步推动海 洋产业绿色发展。碳捕捉和回收技术应用取得积极进展，文昌9-7钻井平台首次应用"火炬气回收+等离 子点火"的火炬气回收利用方案，实现火炬气"零排放"；世界上第一艘安装碳捕集和封存设备的海上浮 式生产储油船建造完毕，标志着我国在海上碳捕集领域迈出了重要一步。 海洋外贸总体平稳，港口和航线建设不断完善 海洋新兴产业发展多维向好。海洋工程装备制造业发展向好。一季度，我国新承接海工订单金额、 交付订单金额、手持订单金额同比分别增长57.1%、114.3%、24.2%。海洋油气、海上风电等领域新型 海洋工程装备制造取 ...

Company Overview - Beijing Zhongke Haixun Digital Technology Co., Ltd. was established in 2005 and is headquartered in the Zhongguancun Science Park, focusing on high-tech products in marine engineering and underwater acoustics [1] - The company specializes in the development of high-performance signal processing platforms, sonar systems, simulation systems, and big data applications [1] Stock Performance - Zhongke Haixun has experienced a decline for seven consecutive trading days, with a cumulative drop of -13.41% [1] - The fund "Changcheng Jiujia Innovation Growth Mixed A" has entered the top ten shareholders of Zhongke Haixun and is a new addition in the first quarter of this year [1] Fund Performance - The year-to-date return for Changcheng Jiujia Innovation Growth Mixed A is -2.36%, ranking 1401 out of 2008 in its category [2] - The fund manager, You Guoliang, has been with Changcheng Fund Management Co., Ltd. since August 2019 and has managed various funds [3][4] Fund Manager Background - You Guoliang holds a master's degree and has previously worked at several securities and asset management companies before joining Changcheng Fund [3][4] - He has managed the "Changcheng Jiujia Innovation Growth Flexible Allocation Mixed Fund" since October 2019 [4]

登录新浪财经APP 搜索【信披】查看更多考评等级 股票代码：000039、299901 股票简称：中集集团、中集H代 公告编号：【CIMC】2025-052 2025年4月 第一节 重要提示 中国国际海运集装箱（集团）股份有限公司（以下简称"公司"或"本公司"，与其子公司合称"本集团"） 董事会、监事会及董事、监事、高级管理人员保证本季度报告内容的真实、准确、完整，不存在虚假记 载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 本公司负责人麦伯良先生（董事长）、主管会计工作负责人曾邗先生（副总裁兼财务总监（CFO））及 会计机构负责人徐兆颖女士（财务管理部总经理）声明：保证本季度报告中财务报告的真实、准确、完 整。 本报告中"报告期"或"本期"指2025年1月1日至2025年3月31日止的三个月。 本报告中的财务报表未经审计。 本报告中本公司的"境外上市外资股"亦称"H股"，"人民币普通股"亦称"A股"。 本报告涉及的未来计划、发展战略等前瞻性陈述，不构成本集团对投资者的实质承诺，敬请投资者对此 保持足够的风险认识，理解计划、预测与承诺之间的差异，注意投资风险。 第二节 公司基本情况 一、主要财务数据 ...

Core Insights - The marine economy in China showed a positive trend in Q1 2025, with a total marine GDP of 2.5 trillion yuan, reflecting a year-on-year growth of 5.7%, surpassing the national GDP growth rate by 0.3 percentage points [1] Marine Tourism - The marine tourism sector achieved a value-added output of 384.2 billion yuan in Q1, marking a year-on-year increase of 7.5% [2] Shipbuilding Industry - Key shipbuilding indicators such as new ship orders, completed ships, and hand-held orders remained stable, with a significant year-on-year growth in hand-held orders [2] - Major shipbuilding companies maintained strong production levels, indicating a stable development trend in the marine shipbuilding industry [2] Marine Oil and Gas Exploration - Significant breakthroughs were made in marine oil and gas exploration, including the discovery of a billion-ton oil field in the South China Sea and high-yield oil and gas flows in the Beibu Gulf [3] - Marine crude oil and natural gas production increased by 1.7% and 13.8% year-on-year, respectively [3] Marine Clean Energy - The offshore wind power sector saw a 1.4% increase in power generation and a 41.6% rise in newly connected capacity year-on-year [3] - The construction of the "blue granary" continued, with marine aquaculture production increasing by 4.5% year-on-year [3] Carbon Capture Technology - Progress was made in carbon capture technology, with the first offshore floating production storage vessel equipped with carbon capture and storage facilities completed [4] Marine Trade - The total import and export volume of marine trade increased by 0.1% year-on-year, demonstrating resilience amid global economic challenges [5] - The export of high-end, intelligent, and green marine products grew by 10.8%, with wind turbine exports rising by 43.2% [5] Port Development - Over 50 automated terminals have been established, maintaining a global lead in port automation [5] - Smart and green port initiatives are advancing, with successful local deployments of advanced systems in major ports like Ningbo Zhoushan and Tianjin [5] Expansion of Shipping Routes - New international shipping routes have been established, enhancing the connectivity of Chinese ports with global markets [6]

Core Viewpoint - The marine engineering equipment manufacturing industry in China is experiencing high-quality development, significantly supporting the marine economy and the construction of a maritime power. The industry is projected to achieve a value-added of 103.2 billion yuan in 2024, representing a growth of 9.1% compared to 2023 [1][20]. Group 1: Industry Overview - The marine oil and gas engineering equipment sector is crucial for the development of marine resources, with advancements in technology leading to the establishment of various standards and series of equipment [1][4]. - Recent achievements include the construction of significant marine equipment such as the FPSO "Ocean Oil 119" and the semi-submersible production and storage platform "Deep Sea No. 1" [1][20]. - The utilization rates of marine drilling equipment in China are notably higher than the global average, with mobile drilling equipment at 93% [1][20]. Group 2: Industry Development History - The marine oil and gas engineering equipment industry in China began in the 1960s, initially relying on imported technology and equipment. Over the decades, the industry has evolved, with significant advancements in domestic capabilities [6]. - The introduction of policies supporting equipment localization has led to breakthroughs in key technologies, particularly in deepwater and ultra-deepwater equipment [6][8]. Group 3: Industry Policies - The Chinese government has implemented various policies to support the marine engineering equipment sector, including plans to enhance the production capacity of marine engineering products and accelerate the development of new equipment [8][10]. - The Ministry of Industry and Information Technology has also promoted the integration of 5G technology in marine applications, enhancing operational efficiency [8][10]. Group 4: Industry Chain - The marine oil and gas engineering equipment industry chain consists of upstream design and raw material supply, midstream manufacturing, and downstream service provision to oil service companies and operators [11]. Group 5: Market Trends - The industry is expected to see continued demand growth, particularly in deepwater and unconventional resource development, driven by technological advancements and the push for sustainable practices [29][30][32]. - The focus on green technology and low-carbon solutions is becoming increasingly important, with a shift towards renewable energy equipment and environmentally friendly materials [30][32]. Group 6: Key Companies - Major players in the industry include CNOOC Engineering, CNOOC Services, and China Shipbuilding Industry Corporation, which dominate various segments of the marine oil and gas exploration and production equipment market [22][23]. - CNOOC Engineering is recognized as the largest marine oil and gas engineering contractor in the Asia-Pacific region, while CNOOC Services is a leading offshore drilling contractor [25][27].

证券研究报告 公司研究 [公司点评报告 Table_ReportType] [Table_StockAndRank] 海油工程(600583.SH) | | | [Table_Author] 左前明 能源行业首席分析师 执业编号：S1500518070001 联系电话：010-83326712 邮箱：zuoqianming@cindasc.com 胡晓艺 石化行业分析师 执业编号：S1500524070003 邮箱：huxiaoyi@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大 厦B座 邮编：100031 25Q1 利润率创新高，公司业绩保持增长 [Table_ReportDate] 2025 年 4 月 28 日 [Table_S 事件：2025 ummar年y]4 月 25 日，海油工程发布 2025 年一季度报告，2025 年第 一季度，公司单季度营业收入 50.96 亿元，同比下降 10%，环比下降 46.5%；单季度归母净利润 5.41 亿元，同比上涨 14%，环比上涨 30%；单 季度扣非后净利润 4.77 ...