Demonstrating the responsibility of a central state-owned enterprise through strength and continuous innovation-driven breakthroughs, CMEC Group—a technology-driven, specialized engineering company—has actively served national strategic priorities and deeply engaged in global co-development. Recently, the Group has achieved significant progress in international green engineering, major equipment R&D, cultural heritage preservation, and operational performance, drawing intensive coverage from mainstream media outlets such as People’s Daily, China Central Television (CCTV), and China’s top three securities newspapers. This widespread recognition fully underscores CMEC Group’s robust capabilities and high-quality, resilient development trajectory.

International Benchmark Project 

People’s Daily Reports on CMEC’s Power Distribution Project in the Maldives

Recently, the People’s Daily app published an article titled “Lighting Up the Future of the Maldives,” highlighting the Hulhumalé Phase II Island Power Distribution System Project, a turnkey project constructed by China Machinery Engineering Corporation (CMEC), headquarters of CMEC Group. As a key livelihood initiative of the Maldivian government and the first successfully implemented project under CMEC Group’s overseas financing service platform, the project encompasses the detailed design, procurement, construction, and commissioning of high-, medium-, and low-voltage substation facilities along with an integrated underground cable network—injecting strong momentum into local green development.

▼Full Text of the Report▼

Chinese-Built Projects Boost Local Green Development

“Lighting Up the Future of the Maldives”

As dusk falls, sea breezes sweep across the Indian Ocean, and lights gradually illuminate Hulhumalé Phase II Island, Maldives. Bright streetlamps outline the island’s crisscrossing streets, neon signs flicker above shops, and the sounds of children reading at home mingle with café chatter—a vibrant new urban community thriving by the sea.

Just a few years ago, the scene was vastly different. As a designated area for relieving population pressure from the capital Malé, Hulhumalé Phase II Island long lacked a systematic power transmission and distribution network, and insufficient electricity supply had become a bottleneck for local socio-economic development. In 2021, CMEC launched the power distribution system project. Despite challenges posed by high temperatures, humidity, and salt-laden air, the team energized the first batch of circuits within three months. Soon after, the 132 kV main substation was successfully commissioned, over 100 pad-mounted substations were deployed across the island, and more than 100 kilometers of power lines connected tens of thousands of households. By June 2024, this “power artery” was fully operational, delivering stable and reliable electricity to residents and businesses alike.

“Stable power is the foundation of everything,” said local resident Hussein. “I believe the future here will only get better.” Today, an increasing number of families are moving into Hulhumalé Phase II.

The Maldivian government has also placed high hopes on green development. Thoriq Ibrahim, former Minister of Climate Change, Environment and Energy of the Maldives, stated that to achieve the national target of sourcing 33% of electricity from renewable energy by 2028, the country must modernize its grid and integrate renewable energy systems through infrastructure upgrades.

On Hulhumalé Phase I Island, rooftops lined with photovoltaic panels have become a distinctive landscape. Back in 2017, CMEC installed 6,800 solar panels with a total capacity of 1.5 megawatts on the roofs of 34 residential buildings under the Hulhumalé Housing Phase I Project. This initiative introduced the concept of a “green energy community” to the Maldives, reducing annual carbon dioxide emissions by approximately 1,800 tons, and serving as a demonstration model for clean energy adoption nationwide. Now, as the economic zone around the capital accelerates its development, the Capacity Expansion Project of the Power Station on Hulhumalé Phase I Island is underway. Once completed, it will merge with the existing grid to enable synergistic operation.

Behind these lights are families living in comfort and security, and shops invigorated by reliable power. A representative from Housing Development Corporation (HDC), Maldives, the project owner, remarked: “From rooftop solar installations to island-wide grid coverage—from solving basic household electricity needs to supporting economic growth—these practical, ‘small but beautiful’ cooperation projects built by Chinese enterprises are truly lighting up the future of the Maldives.”

World-Class Breakthrough!  

CCTV’s Xinwen Lianbo Reports on CEI’s Plateau Hydro Turbine R&D and Manufacturing Base

Recently, the world’s first plateau hydro turbine R&D and manufacturing base—the Dongfang Electric Nyingchi R&D and Manufacturing Base in Xizang, designed by China National Electric Apparatus Research Institute Co., Ltd. (CEI), a subsidiary of CMEC Group—was completed and put into operation, earning coverage by CCTV’s flagship Xinwen Lianbo (News Broadcast) program. Spanning nearly 50,000 square meters, the base features a core facility: the High-Altitude Sediment Erosion Test Rig for Impulse Turbines. This installation successfully fills a domestic gap and has overcome a global technical challenge—ensuring the reliable operation of critical hydropower components under harsh plateau conditions involving high sediment loads and cavitation erosion. The breakthrough lays a solid foundation for China’s independent R&D and engineering application of high-head, large-capacity impulse hydro turbines.

Digital Cultural Heritage Preservation 

CCTV Reports on IPPR’s Anyue Grottoes Digital Exhibition Center Project in Sichuan

Recently, CCTV’s The First Time program aired a segment titled “Cultural Relics That Interact and ‘Speak’: Technology Empowers a New Cultural-Tourism Experience,” reporting on the Anyue Grottoes Digital Exhibition Center Project in Sichuan Province, designed by IPPR, a subsidiary of CMEC Group. The project showcases how cutting-edge digital interactive and display technologies are giving new life to over a thousand sets of millennia-old stone carvings across Anyue County, enabling cultural relics to “interact” and “speak.” This not only supports refined protection of cultural heritage but also promotes deep integration between heritage conservation and tourism development, establishing a new model of coordinated “protection–development” for cultural-tourism fusion.

Resilient Operations Highlighted

Three Securities Newspapers Analyze CAMCE’s 2025 Interim Report

Recently, China CAMC Engineering Co., Ltd. (CAMCE), a member enterprise of CMEC Group, released its 2025 interim report, demonstrating steady operational performance and attracting focused coverage from authoritative financial media outlets including China Securities Journal, Securities Times, and Shanghai Securities News. The report shows that CAMCE achieved a 33% year-on-year increase in newly signed contract value, with continuous breakthroughs in overseas markets and multi-business synergy reinforcing the foundation for high-quality, resilient development.

▼Full Text of the Report from Securities Times▼

CAMCE: Newly Signed Contract Value Up 33% Year-on-Year; Multi-Business Synergy Strengthens Resilience

On August 21, CAMCE (SZSE: 002051) released its 2025 interim report. In the first half of the year, the company recorded revenue of RMB 4.788 billion and net profit attributable to shareholders of RMB 177 million, reflecting a slight year-on-year decline. However, the comprehensive gross margin improved to 18.60%, and net cash flow from operating activities reached RMB 797 million, a significant 159.34% year-on-year increase. During the reporting period, the company centered its efforts on the “Year of Resilient Development” theme, deepening its “One Core, Two Wings” strategic framework. Overall operations remained stable, laying a solid foundation for fully achieving its 14th Five-Year Plan objectives.

The slight decline in revenue and net profit was primarily due to the fact that major projects such as the Nicaragua Airport Access Road Project and the Uzbekistan Waste-to-Energy Project were still in their initial implementation phase during this reporting period, whereas the same period last year saw the concentrated completion and revenue recognition of multiple projects, resulting in a higher comparative base. In addition, during the prior-year period, Beijing Materials Handling Research Institute Co., Ltd. (BMH) recognized investment gains from its capital contribution using equity interests in Beijing Kezhengping Engineering Technology Testing and Research Institute Co., Ltd. Notably, the company maintained strong momentum in new contract signings, with newly signed contract value increasing by 33% year-on-year. The gradual execution and advancement of these projects will provide robust momentum and certainty for future earnings.

Core Engineering Contracting Business Gains Momentum: Breakthroughs in Both International and Domestic Markets

As CAMCE’s core business segment, design consulting and engineering contracting maintained steady development during the reporting period, with coordinated progress in both international and domestic markets and fruitful outcomes in project development and execution.

In the international engineering contracting sector, the company leveraged its established “Belt and Road” footprint. In the first half of the year, it signed 10 major new contracts, with newly signed contract value reaching USD 1.126 billion and effective contract value amounting to USD 973 million, a 36.66% year-on-year increase. As of the end of June, the company’s outstanding contract backlog stood at USD 9.545 billion, providing ample support for future performance. In market development, CAMCE precisely captured overseas healthcare demand, securing six healthcare projects in Guyana, Iraq, and Nicaragua, with a total value exceeding USD 400 million. In the field of new industrialization, capitalizing on the momentum of the China-Central Asia Summit, the company signed the Phase II 500,000-ton-per-year Soda Ash Plant Project in Kazakhstan and secured the Phase III Tuz Gölü Natural Gas Storage Facility Project.

Notably, the company recently announced another significant win in international engineering: the Punta Huete International Airport Access Road Project in Nicaragua, with a contract value of RMB 513 million, equivalent to 4.20% of the company’s 2024 total operating revenue. Execution of this contract will help consolidate and deepen the company’s expertise in infrastructure, expand its market share in Belt and Road partner countries, and enhance the sustainability of its overseas operations.

Project execution also delivered key milestones. Five projects, including the Block 9 Central Gas Processing Facility in Iraq, were completed, with a combined contract value of USD 439 million. Notably, the commissioning of the Block 9 gas project received high recognition from the Prime Minister of Iraq, and the Ministry of Oil of Iraq awarded the company a “Certificate of Excellence for Contractors,” further strengthening its brand reputation in the global engineering sector.

Domestically, the business also advanced steadily. In the first half of the year, new contract value for engineering contracting reached RMB 2.275 billion, and for design consulting, RMB 947 million. Leveraging its strength in medical facility design, the company secured landmark projects such as the New Campus of Foshan Hospital of Traditional Chinese Medicine. In the modern logistics sector, it won the design services contract for the baggage handling system at Guangzhou’s new airport terminal. In the data center sector, it secured the Zhengzhou Strategic R&D Service Base Project for China Minsheng Bank, further optimizing its multi-sector business portfolio.

Breaking beyond the Traditional EPC Model: Integrated Investment-Construction-Operation Capabilities Take Shape

During the reporting period, CAMCE’s engineering investment and operation business achieved full coverage across three strategic sectors: environmental engineering, ropeway engineering, and clean energy engineering—extending from “engineering contracting” to an integrated “investment-construction-operation” model and continuously optimizing its profit structure and revenue streams.

Significant progress was made in the clean energy sector. In May 2025, the company successfully signed the Waste-to-Energy Project in Tashkent and Andijan, Uzbekistan, with a total investment of USD 475 million. Upon completion, the project will process 1.34 million tons of municipal solid waste annually and generate 750 million kWh of electricity per year, setting a benchmark for overseas clean energy deployment.

Investment and operation in ropeway and environmental engineering progressed steadily. The company’s first ropeway investment-construction-operation project—the Atush Tianmen Ropeway Project in Xinjiang—passed inspection by the National Hoisting & Conveying Equipment Quality Detection and Inspection Center on August 10. Construction of the ski resort has entered its final phase, and supporting facilities are being advanced in parallel. In environmental engineering, the Phase III BOT Project of Pizhou Chengbei Sewage Treatment Plant has commenced commercial operations. The Phase IV TOT Project of Qinhuangdao Sewage Treatment Plant and the Phase I Sewage Treatment Plant Retrofit Project in Gujiao, Shanxi Province are both operating safely and stably. The company’s asset scale and management capabilities in environmental operations continue to expand. Additionally, the China-Belarus Industrial Park welcomed 13 new enterprises in the first half of the year, bringing the cumulative total to 154 enterprises with agreed investment totaling USD 1.58 billion, demonstrating increasingly evident industrial agglomeration effects.

Multidimensional Efforts Empower Transformation: Strengthening the Foundation for High-Quality Development

In the first half of 2025, CAMCE took innovation as its core engine, achieving synchronized breakthroughs in enhancing R&D capabilities, expanding into strategic emerging industries, and upgrading advanced equipment manufacturing—deepening the integration of technology and business and injecting strong “technological momentum” into its transformation. Revenue from strategic emerging industries reached RMB 447 million during the period.

From platform building to commercialization of research outcomes, the company’s technical strength continued to solidify. It successfully secured approvals for key platforms including the Beijing Municipal Enterprise Technology Center and the China Machinery Industry Ropeway Technology Engineering Research Center. In March, CAMCE subsidiary IPPR, together with Machinery Industry Planning Institute Co., Ltd. and SINOMACH Science and Technology Research Institute Co., Ltd. (SINOMACH STRI), established the “Alliance for Innovation in Big Science Projects and Advanced Industrial Design,” forming a complete closed loop of “strategic guidance–engineering design–technology breakthrough,” helping the company seize commanding heights in technology. R&D project efforts also yielded results. The “Lightweight Short-Station Eight-Passenger Detachable Gondola (C8-MINI)” passed expert evaluation, solving technical challenges related to short stations, long spans, and high capacity. Projects such as “Research on Intelligent, Heavy-Duty, Green Detachable Carrier Grip Passenger Ropeway Technology and Equipment” were successfully accepted. Meanwhile, the company deepened the integration of R&D outcomes with industry standards: IPPR’s “Construction Technology for Complex-Form Single-Layer Aluminum Alloy Grid Structures” won the Second Prize of the Huaxia Construction Science and Technology Award, and Beijing Materials Handling Research Institute (BMH) led the development of three international crane standards, completed reviews of multiple national standards, and obtained CMMI Level 5 certification, further strengthening its technological edge.

Focusing on strategic emerging sectors, the cultivation of new growth drivers accelerated. The company expanded into data centers, biology laboratories, medical and elderly care facility design, and intelligent stereoscopic warehouse, securing national-level projects including the Phase II of the National Supercomputing Center in Shenzhen and the Pengcheng Cloud Brain Network Intelligence Major S&T Infrastructure Project, promoting R&D and application of digital technologies in these fields. At the same time, in alignment with China’s “dual carbon” goals, it intensified its layout in ecological protection and clean energy, developing businesses in high-end environmental protection equipment and energy-saving engineering services, thereby accumulating momentum for long-term growth.

Advanced equipment manufacturing achieves breakthroughs and core product competitiveness stands out. Leveraging core subsidiaries such as Beijing Materials Handling Research Institute Co., Ltd. (BMH), the company focused on key products including passenger ropeways, automated logistics and warehousing systems, and environmental protection equipment, continuously enhancing technological competitiveness and market share. The ropeway business delivered outstanding performance: BMH’s “Passenger Detachable Aerial Ropeway” was selected for the Ministry of Industry and Information Technology’s List of Manufacturing Single-Product Champions. During the reporting period, the company not only signed and activated multiple overseas ropeway projects but also signed a strategic cooperation agreement with Hiroya Co., Ltd., Japan, promoting Chinese ropeway equipment into high-end international markets. Domestically, it secured premium projects including the Xiangshan Park Ropeway Reconstruction in Beijing and the Detachable Ropeway at Qingyuan Chimelong, Guangdong. As of the end of July, the company had built 152 detachable ropeways nationwide, maintaining a solid leadership position in the market.

Currently, the international engineering market under the “Belt and Road” initiative is growing steadily, while China’s new urbanization drive and intelligent construction are creating new opportunities domestically. Moving forward, CAMCE will seize the opportunity of concluding its 14th Five-Year Plan to scientifically and systematically formulate its development blueprint for the 15th Five-Year Plan period. On one hand, it will strengthen its capabilities in new industrialization and enhance full-chain engineering services. On the other hand, it will rebuild a “new competitive edge in international operations” by deepening its presence in core overseas markets. At the same time, guided by world-class design and consulting, driven by technological innovation, and supported by advanced equipment manufacturing, the company will accelerate its transformation into a technology-driven, specialized engineering enterprise—delivering high-quality development in service of national strategies and creating sustained value for shareholders.