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Jiang Chuya, reporter of Yangtze Business Daily Pentium News

China Energy Engineering Corporation operates steadily and the amount of contract orders continues to grow.

On July 22, China Energy Engineering (601868.SH, 03996.HK) announced that the newly signed contract value in the second quarter of 2024 was 370.813 billion yuan; the newly signed contract value in the first half of the year was 738.601 billion yuan, a year-on-year increase of 14.35%.

By region, China Energy Engineering's annual cumulative new contract value in China was 563.22 billion yuan, a year-on-year increase of 15.81%; its annual cumulative new contract value abroad was 175.381 billion yuan, a year-on-year increase of 9.90%.

China Energy Engineering Group is a large-scale comprehensive group company that provides systematic, integrated, full-cycle, one-stop development solutions and services for the energy, power, infrastructure and other industries in China and even the world. Its main businesses cover new energy and integrated smart energy, traditional energy, water conservancy (water affairs), ecological and environmental protection, integrated transportation, municipal administration, housing construction, real estate (new urbanization) and other industrial fields.

China Energy Construction has vigorously expanded its market in recent years, and the amount of newly signed contracts has achieved rapid growth for many consecutive years. From 2021 to 2023, the company's newly signed contracts will be 872.61 billion yuan, 1,049.09 billion yuan, and 1,283.73 billion yuan, respectively, up 51%, 20.2%, and 22.4% year-on-year.

According to the business plan, in 2024, China Energy Construction plans to sign new contracts worth 1.3 trillion yuan, have operating income of 428 billion yuan, and invest 160.5 billion yuan.

China Energy Engineering has maintained a double increase in revenue and profit for many consecutive years. From 2021 to 2023, its net profit was 6.504 billion yuan, 7.824 billion yuan, and 7.986 billion yuan, respectively, up 39.26%, 20.07%, and 2.07% year-on-year. In 2023, the company's operating income exceeded 400 billion yuan, reaching 406.032 billion yuan.

In the first quarter of 2024, China Energy Construction achieved operating income of 97.404 billion yuan, a year-on-year increase of 10.04%; and achieved net profit attributable to shareholders of the parent company of 1.481 billion yuan, a year-on-year increase of 31.71%.

As a leading company in building energy, China Energy Engineering Group is focusing on the core development concept of "innovation, green, digital intelligence, and integration" to create a "three new" energy construction pattern and accelerate its lead in new energy business.

By the end of 2023, the company will hold 95.11 million kilowatts of installed capacity in new energy, nearly doubling the installed capacity by the end of 2022, with strong momentum for the development of new energy business. The investment in strategic emerging industries such as new energy, "energy +", and "green +" increased by 64%.

In the first quarter of 2024, China Energy Construction's new energy business achieved operating income of 29.61 billion yuan, a year-on-year increase of 34.5%, accounting for 30.4% of the company's total revenue.

China Energy Construction strengthens core technology research and accelerates technological innovation. The growth rate of investment in R&D far exceeds revenue. In 2021 and 2022, China Energy Construction's R&D expenses were 8.789 billion yuan and 10.442 billion yuan, respectively, up 29.55% and 18.80% year-on-year. Among them, the company's R&D expenses in 2022 exceeded 10 billion yuan for the first time. In 2023, R&D expenses were 12.98 billion yuan, up 24.31% year-on-year. The company obtained 2,085 patent authorizations in 2023, including 419 invention patents, a year-on-year increase of 25%.