Financial Performance - The company achieved a revenue of approximately 225 million yuan in the first half of 2025, representing a year-on-year growth of 30.87% [1] - Net profit attributable to shareholders reached 58.88 million yuan, up 42.91% year-on-year [1] - Gross margin increased to 48.43%, a growth of 12.42% compared to the previous year [1] - The asset-liability ratio stood at 38.3%, a decrease of 1.82% year-on-year, indicating a stable financial condition [1] Business Segments Ecological Restoration - The company is actively expanding its ecological restoration business, focusing on key areas such as Inner Mongolia, with multiple projects implemented [1][2] - Collaborations with universities for technology development in land desertification and restoration are ongoing [2] Green Space Maintenance - The company has undertaken over 60 million square meters of green space maintenance projects, with a 20% increase in maintenance revenue in the first half of 2025 [3] - Investment of over 2,000 modern maintenance machines has been made to enhance operational efficiency [3] Cultural Tourism Operations - The company launched the "Mamma Beast: Dream Mountain and Sea" project, which quickly became a popular destination, enhancing brand influence [4] - The total investment for the Sanqing Mountain cultural tourism project is over 1 billion yuan, focusing on integrated investment and operation models [4][8] Forestry Economy - The company is exploring diverse forestry economic models, including carbon trading and under-forest economy planting [5] Future Strategies - The ecological restoration segment will focus on expanding market share in key areas aligned with national ecological construction strategies [12] - Green space maintenance will continue to enhance operational efficiency through mechanization and smart management [12] - The cultural tourism segment aims to integrate with green space maintenance to create new revenue streams and improve cash flow [12] Market Outlook - The company is optimistic about the Inner Mongolia market, expecting further orders in the second half of the year due to strategic opportunities [6][7] - The cultural tourism segment is in a critical development phase, with a projected maturation period of no less than three years before achieving significant profitability [10][11] Impact of Major Projects - Major projects like the Tibet Yaxia Hydropower Station and New Tibet Railway are expected to generate substantial ecological restoration demand, with the company already establishing a presence in these markets [13] Debt Recovery Efforts - The company is actively engaging with local governments to address outstanding receivables, leveraging national policies to facilitate debt recovery [15]

Core Insights - The company reported a revenue of 225 million yuan, a year-on-year increase of 30.87%, and a net profit attributable to shareholders of 58.88 million yuan, up 42.91%, indicating steady growth and improved profitability in core business operations [1] - The company has increased its R&D investment to 11.2 million yuan, a growth of 58.72%, enhancing its focus on technological innovation and support for ecological restoration and green space maintenance [1] Group 1: Ecological Restoration - The company actively promotes ecological restoration projects in key national areas, successfully implementing multiple projects in Inner Mongolia [2] - Utilizing an integrated ecological restoration technology system and smart monitoring, the company achieves precise control and standardized management during construction [2] - Collaborations with renowned universities and research institutions focus on developing key ecological restoration technologies for desertification, grasslands, and water environments [2] Group 2: Green Space Maintenance - The green space maintenance segment has become a significant revenue driver, with an area of 60 million square meters under maintenance, generating approximately 130 million yuan in revenue, a 20% increase [3] - The company leads the development of provincial maintenance standards and promotes mechanization and smart upgrades in green space maintenance [3] - A smart maintenance management system has been established, integrating functions such as intelligent irrigation and environmental monitoring [3] Group 3: Cultural Tourism Operations - The company’s cultural tourism operations, led by Shanghai Senyang, focus on revitalizing green assets and innovative consumption scenarios through original IPs [4] - Successful projects include "Mama Beast Dream Forest" and "Mama Beast Dream Mountain Sea," which have quickly gained popularity [4] - The company collaborates with local state-owned enterprises for a comprehensive investment and operation model in the Sanqing Mountain tourism project, with total investment exceeding 1 billion yuan [4] Group 4: Forestry Economy - The company explores diverse forestry economic models, successfully implementing trials in under-forest planting and carbon trading [6] - Strategic partnerships have been established to advance carbon asset management and forestry carbon trading [6] - The company aims to enhance the value chain of forestry ecological products and promote integration with tourism, creating a new system that balances economic and ecological benefits [6]