Core Points - The groundbreaking ceremony for the Nilai Smart City project, undertaken by Shandong Hi-Speed Group, marks the official commencement of the project, which is the largest single contract in Southeast Asia for the group [2] - The project aims to invest $7 billion (approximately 50.1 billion RMB) over ten years to develop a modern smart city, including an automotive manufacturing center, high-tech smart manufacturing center, medical city, and commercial center [2] - The project is expected to create over 50,000 jobs, significantly enhancing local living standards and economic development [2] Company Strategy - Shandong Hi-Speed Group plans to leverage its full industry chain advantages in transportation infrastructure, integrating resources and managing the project effectively [3] - The company aims to establish the project as a benchmark for overseas smart cities, enhancing its core competitiveness in international markets and the influence of its "Shan Gao · Xing" brand [3] - The project will be executed in seven phases based on owner investment, customer demand, and fund recovery progress, with the first phase contract valued at $1.6 billion (approximately 11.45 billion RMB) [2]