Financial Performance - In Q1 2025, the company achieved a revenue of 2.183 billion yuan, with a net profit of 131 million yuan, reflecting a year-on-year growth of 12.17% [2] - The new contract value for international engineering contracting reached 699 million USD, a year-on-year increase of 30.65% [2] - The effective contract value for international engineering contracting was 684 million USD, up by 25.27% year-on-year [2] Project Development - The company has successfully developed key projects in Central Asia, including a 500,000 tons/year soda ash plant in Kazakhstan and waste-to-energy plants in Uzbekistan [2][4] - In the Middle East, projects include a 100-bed hospital in Iraq and the Tuz Lake gas storage project in Turkey [2] - In Latin America, the company facilitated the first sovereign commercial loan financing in RMB for the Nicaragua International Airport project [2] Financing Innovation - The company maintains a low asset-liability ratio compared to the industry average and has diverse financing channels [5] - Notable projects include the first RMB sovereign commercial loan project in Uzbekistan and the largest soda ash plant project in Central Asia, which received two awards for financing excellence [5] Engineering Investment and Operations - The company focuses on three main areas: environmental protection, cableway, and clean energy [6] - As of the end of 2024, the wastewater treatment capacity reached 280,000 tons/day, doubling from the end of 2023 [6] - The company plans to invest approximately 475 million USD in two waste-to-energy projects in Uzbekistan [6] Market Strategy - The company targets stable political regions and high-demand markets while reinforcing traditional markets [7] - Key focus areas include oil and gas, cableway, logistics, and healthcare projects along the Belt and Road Initiative [7]

Group 1: Overall Business Performance - In 2024, the company achieved a revenue of 12.208 billion CNY and a net profit of 361 million CNY, remaining stable compared to the previous year [4] - The total new contract amount signed for the year was 3.39 billion USD, representing a year-on-year increase of 7.4% [4] - The company ranked 13th in the signing amount of large complete equipment engineering projects by Chinese enterprises abroad in 2024 [4] Group 2: Q1 2025 Performance - In Q1 2025, the company reported a revenue of 2.183 billion CNY and a net profit of 131 million CNY, showing a year-on-year growth of 12.17% [5] - The new contract amount for international engineering contracting reached 699 million USD, a year-on-year increase of 30.65% [5] Group 3: International Business Development - The company has made significant progress in overseas markets, securing multiple projects in the Middle East, Southeast Asia, and Latin America [4] - Key projects include the Iraq oil and gas central processing facility and the construction of international airports in Nicaragua and Kazakhstan [6] Group 4: Technological Innovation - In 2024, revenue from strategic emerging industries was 861 million CNY, accounting for 7.07% of total revenue [8] - The company participated in the formulation of 69 standards and received 90 awards for excellence in various fields [9] Group 5: Engineering Investment and Operations - The engineering investment and operations segment achieved a new contract amount of 1.184 billion CNY in 2024 [10] - The operational capacity for wastewater treatment increased to 280,000 tons per day, doubling from the previous year [10]

Financial Performance - Company reported total revenue of 2.183 billion yuan for Q1 2025, a decrease of 7.61% year-on-year [1] - Net profit attributable to shareholders reached 131 million yuan, an increase of 12.17% year-on-year [1] - Gross margin was 19.72%, down 2.75% year-on-year, while net margin improved to 6.1%, up 22.43% year-on-year [1] - Total operating expenses were 152 million yuan, accounting for 6.97% of revenue, a decrease of 12.53% year-on-year [1] - Earnings per share increased to 0.11 yuan, up 22.22% year-on-year [1] Cash Flow and Debt - Operating cash flow per share was -0.03 yuan, showing a significant improvement of 94.78% year-on-year [1] - Company’s receivables accounted for 1497.36% of net profit, indicating a high level of accounts receivable [1][3] - Interest-bearing debt rose to 1.487 billion yuan, an increase of 70.35% year-on-year [1] Business Strategy and Market Position - Company is focusing on new market segments and resource allocation as part of its "14th Five-Year Plan" strategy [4] - International engineering contracting business saw new contracts worth 2.411 billion USD, a year-on-year increase of 4.42% [5] - Company is actively developing projects in healthcare, clean energy, and logistics, with significant progress in overseas projects [5] Future Outlook - Analysts expect the company’s performance in 2025 to reach 376 million yuan, with an average earnings per share forecast of 0.3 yuan [3]