Key Points - The company reported a contract amount of 428 million USD for various projects, including a soda ash plant in Kazakhstan and a hospital project in Ethiopia [1] - In the first half of 2025, the company signed 10 significant international engineering contracts with a total contract value of 1.126 billion USD, and the effective contract amount for international engineering contracting reached 973 million USD, representing a year-on-year increase of 36.66% [1] - As of June 30, 2025, the company had 39 ongoing international engineering projects with a total contract balance of 9.545 billion USD [1] - The domestic engineering contracting business signed contracts worth 2.275 billion CNY, while the consulting and design business signed contracts worth 949 million CNY in the first half of 2025 [1] - The company has ongoing domestic projects with a signed but uncompleted contract amount of 4.596 billion CNY and additional projects that are won but not yet signed amounting to 73 million CNY [1] - The equipment manufacturing business secured contracts worth 593 million CNY in the first half of 2025 [2] - The company signed a business contract for the soda ash plant project in Kazakhstan during the China-Central Asia Summit, with a contract amount of approximately 337.5 million USD [2] - As of June 30, 2025, the company is executing two major projects: the expansion of Punta Huete International Airport in Nicaragua with a total contract amount of 3.593 billion CNY and the soda ash plant project in Kazakhstan [3]

Core Insights - The company reported a revenue of over 12.2 billion yuan and a net profit of 362 million yuan for 2024, indicating progress in achieving its "14th Five-Year" strategic goals and demonstrating resilience in a challenging external environment [1] - The company's performance is attributed to its ability to adapt and innovate through a "three new" strategy focusing on new market layouts, new segments, and new resource configurations [1] Financial Performance - In Q1 2025, the company signed new contracts worth a total of 856 million USD, representing a year-on-year growth of 23.86% [1] - For 2024, the total new contract value reached 3.39 billion USD, a 7.4% increase, with international engineering business being a significant contributor [2] Overseas Business Expansion - The overseas engineering business has shown counter-cyclical growth, becoming the largest profit contributor for the company [2] - The company has successfully entered the oil and gas engineering sector in Iraq, achieving significant milestones ahead of schedule [4] - The expansion into overseas markets is seen as a crucial path for the company to navigate economic cycles and seek incremental growth [5] Project Highlights - Key projects include the Nicaragua Punta Huete International Airport expansion and various projects in Kazakhstan and Uzbekistan, showcasing the company's diverse international portfolio [4][5] - The company has established a strong presence in the oil and gas sector, which is characterized by high specialization and large project sizes [4] Technological and Strategic Development - The company emphasizes technological advancement as a key driver for high-quality development, with significant achievements in engineering and technology certifications [8] - The strategic layout of "one body and two wings" aims to enhance international operations and project management capabilities [7] Future Outlook - The year 2025 is defined as a "resilient development" year, with a focus on steady progress and deepening the "one body and two wings" strategy [11] - The company has reported a revenue of 2.183 billion yuan and a net profit of 131 million yuan in Q1 2025, reflecting a 12.17% increase year-on-year [11] Leadership Vision - The chairman emphasized the importance of focusing on core responsibilities and enhancing overseas market development capabilities, aiming to create economic and social value [14]