Financial Performance - In Q1 2025, the company achieved a net profit of 249 million CNY, representing a year-on-year increase of 1.89% [2] - Revenue increased by 1.95% year-on-year [2] - Net cash flow from operating activities grew by 81.03% year-on-year, indicating improved cash flow management [3] Business Development - A new wholly-owned subsidiary, Shandong Highway Engineering Equipment Co., Ltd., was established in March 2025, focusing on high-end equipment manufacturing [3] - The company plans to deepen its road and bridge construction business while expanding into new sectors, including water conservancy, environmental protection, and high-speed rail [4] - The 2025 revenue target is set at 74.02 billion CNY, a 3.74% increase from 2024, with a net profit target of 3.13 billion CNY, reflecting a 3.59% growth [4] Industry Outlook - The civil engineering construction industry is supported by national policies, solidifying its status as a pillar of the national economy [5] - In Shandong Province, a total investment of 250 billion CNY in comprehensive transportation is planned for 2025, with highway mileage expected to exceed 9,300 kilometers [5][6] - Nationally, the goal is to establish a comprehensive transportation network of approximately 700,000 kilometers by 2035, with significant investments planned for infrastructure [7][8] Competitive Position - The company maintains a stable development trend amid complex domestic and international environments, leveraging its comprehensive service capabilities across multiple sectors [8] - The company is positioned as a full-spectrum engineering service provider, enhancing its risk resistance through a diversified business structure [8]