SESPACE(SZ:002135)2024-12-05 10:13Group 1: Company Overview and Business Model - The company is a large professional construction steel structure enterprise, focusing on large-span space steel structures, high-rise heavy steel structures, light steel structures, and prefabricated steel structures [1] - Since obtaining the first-level qualification for general contracting in 2019, the company has transformed from a specialized subcontractor to a general contractor, enhancing its revenue and value-added services [2] - The company actively follows the national "dual carbon" policy and is expanding its photovoltaic building integration business [2] Group 2: Financial Performance - The company reported a significant increase in revenue and efficiency due to its EPC (Engineering, Procurement, and Construction) model [2] - Accounts receivable are substantial due to the nature of the construction industry, with most receivables aging within 1 year and 1-2 years [2] - The company has improved its cash flow situation, with the net cash flow from operating activities turning positive in the third quarter of the current year [3] Group 3: Market Strategy and Future Outlook - The company is focusing on the "EPC general contracting + No. 1 project" dual-engine development strategy to create differentiated and specialized brand projects [2] - The company is optimistic about the photovoltaic industry, anticipating increased demand for clean energy solutions in line with national green development strategies [3] - The company is actively expanding its overseas market presence, particularly in regions aligned with the "Belt and Road" initiative [4] Group 4: Corporate Governance and Financial Instruments - The company has no plans to lower the conversion price of its convertible bonds, as decided in the board meeting held on September 20, 2024 [5] - The company is implementing its fundraising projects as scheduled [4]