消息面上，近日，国家电网表示"十五五"期间公司固定资产投资预计4万亿元，较"十四五"增长40%， 同时提升系统调节能力，优化抽蓄站点布局，支持新型储能规模化发展，提高新能源运行支撑和并网消 纳水平。国泰海通认为，电力建设龙头受益。中国能建掌握超超临界二次再热发电、百万千瓦大型水电 机组、三代四代核电常规岛、高压交直流输电、氢制储运、抽水蓄能、电化学储能、300MW压缩空气 储能、重力储能等一系列关键核心成套技术与标准规范，PB0.95倍近10年分位数41%。 智通财经APP获悉，中国能源建设(03996)盘中涨超4%，截至发稿，涨3.48%，报1.19港元，成交额1.04 亿港元。 ...

消息面上，近日，国家电网表示"十五五"期间公司固定资产投资预计4万亿元，较"十四五"增长40%， 同时提升系统调节能力，优化抽蓄站点布局，支持新型储能规模化发展，提高新能源运行支撑和并网消 纳水平。国泰海通认为，电力建设龙头受益。中国能建（601868）掌握超超临界二次再热发电、百万千 瓦大型水电机组、三代四代核电常规岛、高压交直流输电、氢制储运、抽水蓄能、电化学储能、 300MW压缩空气储能、重力储能等一系列关键核心成套技术与标准规范，PB0.95倍近10年分位数 41%。 中国能源建设(03996)盘中涨超4%，截至发稿，涨3.48%，报1.19港元，成交额1.04亿港元。 ...

Core Viewpoint - The report highlights the financial performance and strategic initiatives of China Energy Engineering Corporation Limited for the first half of 2025, showcasing growth in revenue and profit while emphasizing the company's commitment to high-quality development and innovation in the energy sector [1][3]. Financial Performance - The company reported a revenue of RMB 212.09 billion for the first half of 2025, representing a 9.18% increase compared to the same period last year [7]. - The total profit amounted to RMB 6.56 billion, reflecting a 5.49% year-on-year growth [7]. - The net profit attributable to shareholders was RMB 2.80 billion, a slight increase of 0.72% from the previous year [7]. - The company's total assets reached RMB 938.74 billion, up 8.02% from the end of the previous year [7]. Industry Overview - The energy sector in China is experiencing significant growth, with a focus on renewable energy sources. As of June 2025, installed capacity for wind power reached 573 million kW, and solar power reached 1.1 billion kW, marking increases of 22.7% and 54.2% respectively [6][8]. - The traditional energy sector remains robust, with coal and hydropower continuing to play crucial roles in the energy mix. Hydropower capacity grew by 3% year-on-year [6][8]. - The government is investing heavily in infrastructure, with total investment in power engineering reaching RMB 363.5 billion, a 5.9% increase year-on-year [6][8]. Strategic Initiatives - The company is actively pursuing the "1466" strategy, focusing on innovation and high-quality development across its operations [15]. - It aims to enhance its core competencies in energy and infrastructure, participating in major national projects such as the Yarlung Tsangpo River hydropower project and the development of new energy bases [15]. - The company is also expanding its international presence and engaging in high-level forums to promote its integrated energy solutions [15]. Business Segments - The company operates across various sectors, including energy, water conservancy, green transportation, and ecological protection, demonstrating a comprehensive service capability [10][12]. - In the first half of 2025, the company secured new contracts worth RMB 775.36 billion, with significant contributions from its core energy and infrastructure projects [15]. - The industrial manufacturing segment, which includes construction materials and equipment manufacturing, is also a key focus area, with ongoing efforts to enhance sustainability and innovation [12][13].