ECEC(SZ:002140)2025-07-22 01:10Group 1: Company Strategy and Business Layout - The company adheres to a "one basic plate + three verticals and three horizontals" strategy, focusing on chemical engineering as the core, and expanding into new materials, new energy, and new environmental sectors, aiming to become a "100 billion Donghua" by 2025 [1] - The "three new" sectors account for over 40% of the company's overall business, with a positive growth trend [1] - The company is actively pursuing high-end polyolefins, biodegradable materials, DMC, silicon, and lithium projects, supported by technological research and development [1] Group 2: Order Status and Profit Margin - As of the end of Q1 2025, the company has signed contracts worth 49.903 billion yuan in uncompleted orders, with domestic orders primarily in coal chemical, new chemical materials, green energy, and industrial environmental protection [3] - The company's engineering business gross margin is influenced by revenue composition and market competition, generally maintaining a range of 8%-15% over the years [3] Group 3: Key Projects - The Tibet Zabuye lithium carbonate project aims for an annual production of 9,600 tons of battery-grade lithium carbonate and is currently in trial operation [4] - The Inner Mongolia New Material ethylene glycol project is in trial production, with a sales contract signed with Shaanxi Coal Group [5] - The POE amplification technology development project, with a funding of 16 million yuan, aims to enhance the company's technological reserves and expand the POE engineering market [5] Group 4: Market Value Management - The company is developing a market value management system, monitoring key indicators such as market value, price-to-earnings ratio, and price-to-book ratio [6] - The company has consistently distributed over 30% of its annual distributable profits as cash dividends over the past three years, with a cash dividend distribution of 106 million yuan in June 2025 [7]