Power Construction's new contracts dip slightly in Q1 2025

Power Construction Corporation of China (SSE:601669) announced a decrease in new contracts for the period of January to March 2025. The total value of new contracts signed reached CNY 2993.23 billion, a 9.6% decrease compared to the same period last year. Within the energy sector, new energy power contracts decreased by 9.33% to CNY 1802.12 billion. Water resources and environmental contracts decreased by 29.06% to CNY 379.12 billion. Notable new projects include the the Mengjiala Guo Puerbari Coal Mine Infrastructure and Peeling Project (CNY 69.59 billion), the Philippines Terrac Solar Photovoltaic project EPC contract (CNY 32.41 billion), and the Myanmar 5000TPD Cement Factory Maturation Production Line Construction Project + Supporting 9MW Waste Heat Power Generation Project + Supporting 60MW Power Center Power Station Construction Project Onshore and Offshore Contract(CNY 27.61 billion). Domestic contracts totaled CNY 2350.09 billion, while overseas contracts reached CNY 643.14 billion, representing a 15.44% decrease and a 20.87% increase, respectively.