Company Overview - China Power Construction Group Co., Ltd. (China Power Construction) was established on November 30, 2009, and listed on the Shanghai Stock Exchange in 2011 under the stock code 601669 [2][3] - The company is a subsidiary of China Power Construction Group, a large state-owned enterprise approved by the State Council in September 2011, headquartered in Haidian District, Beijing [2] Industry Position - China Power Construction ranks first globally in integrated hydropower construction capabilities and performance [2] - The company has been listed among the top 150 of the Fortune Global 500 for four consecutive years and has consistently topped the ENR Global Engineering Design Companies list [3][5] - The company has a domestic hydropower engineering market share exceeding 90% and operates in over 130 countries [5] Business Development - The company aims to become a "world-class green and low-carbon energy supplier" by 2024, with a target of over 90% of its installed capacity coming from clean energy by 2025 [3] - Major projects include the Three Gorges Project and the Baihetan Hydropower Station, as well as international collaborations such as the Poland railway restoration project and the Laos hydropower station [3] Financial Performance - In 2024, the company reported revenue of 633.685 billion yuan, a year-on-year increase of 4.07%, and a net profit of 12.015 billion yuan [11] - The company’s operating cash flow increased by 10.34% year-on-year, reaching 24.546 billion yuan [11] - The total contract backlog was 2.13 trillion yuan, reflecting a 15.37% year-on-year growth [11] Market Dynamics - The announcement of the 1.2 trillion yuan investment in the Yarlung Tsangpo River downstream hydropower project has generated significant interest in the capital market, leading to a three-day stock price surge [10][9] - The company’s market capitalization reached approximately 120 billion yuan as of July 30, 2025 [11] Technological and Competitive Advantages - The company holds a leading position in the engineering contracting sector, ranking 6th among global contractors and leading in the domestic market [11] - It has a comprehensive service model that integrates surveying, design, construction, and operation across the entire industry chain [11] - The company has a strong focus on R&D, with 24.3 billion yuan allocated for research expenses in 2024, marking a 4.3% increase [11]