Core Viewpoint - China Haicheng has significant technical reserves and engineering experience in the environmental protection and resource recovery sectors, actively participating in related projects domestically and internationally [1] Group 1: Company Capabilities - The company has undertaken numerous environmental protection and resource recovery engineering projects [1] - China Haicheng is currently providing engineering technical consulting services for projects related to China Resource Recycling Group Co., Ltd [1] Group 2: Future Engagement - The company plans to actively participate in future engineering technology and construction service demands from China Resource Recycling Group Co., Ltd [1]

Group 1 - The company, Gansu Engineering Consulting Group Co., Ltd. (Gansu Consulting), reported a revenue of 1.977 billion yuan in 2024, a year-on-year decrease of 17.24%, and a net profit attributable to shareholders of 230 million yuan, down 9.51% [2] - In Q1 2024, the company achieved a revenue of 413 million yuan, a year-on-year decline of 4.14%, while the net profit attributable to shareholders was 55.01 million yuan, an increase of 3.84% [2] - The financial director indicated that the decline in performance was due to intensified market competition and reduced profit margins, but the company managed to increase net profit in Q1 through cost-cutting measures [2] Group 2 - The company aims to leverage national strategic opportunities such as Western Development, new urbanization, and ecological protection in the Yellow River basin, focusing on urban renewal, sponge cities, major water conservancy projects, and new energy [3] - The company faces challenges with slow project progress and declining revenue conversion rates from existing orders, necessitating a focus on differentiating advantages in a competitive environment with insufficient effective demand [3] - Future strategies include adapting to industry changes, expanding new business areas, enhancing capabilities in smart and green buildings, and building a comprehensive environmental protection service framework [3]