Core Viewpoint - The company has demonstrated significant growth in revenue and profit in the first half of 2025, driven by its core business operations and strategic project developments, particularly in international engineering contracting and resource management [1][2][4]. Financial Performance - The company achieved an operating income of 5.292 billion yuan, a year-on-year increase of 6.90% [1]. - The net profit attributable to shareholders reached 441 million yuan, reflecting a substantial growth of 40% compared to the previous year [1]. - The net cash flow from operating activities was 965 million yuan, marking a remarkable increase of 251.58% year-on-year, indicating improved liquidity and operational quality [1]. International Engineering Contracting - The international engineering contracting business generated revenue of 3.096 billion yuan, up 28.44% year-on-year, becoming a key driver of the company's revenue growth [2]. - The company signed new contracts worth 7.531 billion yuan during the reporting period, enhancing its growth momentum [2]. - Notable projects include the successful construction of the Indonesian Oman copper smelting project and the signing of the Vietnam multi-farm electrolytic aluminum project, showcasing the company's competitive strength in the international market [2][3]. Resource Management and Development - The company is actively advancing resource "increased reserves and production" projects to strengthen its resource base amid fluctuating zinc metal prices [4]. - Key projects include the optimization of zinc smelting processes and the expansion of mining capacity, which are expected to enhance production efficiency and support future growth [4][5]. - The company has obtained a mining license for a 1.65 million tons per year project, which will significantly boost its lead and zinc production capacity [4]. Equipment Manufacturing - The equipment manufacturing segment reported revenue of 139 million yuan, a substantial increase of 48.16% year-on-year, indicating strong growth potential [6]. - The subsidiary, Zhongse Pump Industry, has entered into a strategic cooperation agreement with a major mining company, which is expected to provide stable order support and strengthen its market position [7]. - The company is focusing on product innovation and quality control, achieving international standards in key performance indicators for its new pump products [7]. Future Outlook - The company plans to continue focusing on its core business, enhancing project construction, market expansion, and technological innovation to achieve its annual operational goals [8]. - As the company enters a critical phase of its "14th Five-Year Plan," it aims to optimize its business structure and improve operational quality for higher quality development in the "15th Five-Year Plan" [8].