中铁工业深耕海外市场，海外业务拓展势头强劲

Core Viewpoint - China Railway Industry (中铁工业) reported stable growth in its 2024 annual report, with improvements in profitability and operational efficiency, alongside a focus on international expansion and innovation in technology [1][2][4]. Financial Performance - The company achieved a new contract signing amount of 48.144 billion yuan and an operating revenue of 29.003 billion yuan in 2024 [1]. - The net profit attributable to shareholders was 1.770 billion yuan, reflecting a year-on-year increase of 1.50% [2]. - The net profit after deducting non-recurring gains and losses was 1.641 billion yuan, up 3.68% year-on-year, reversing a two-year decline [2]. - Earnings per share increased to 0.76 yuan, a growth of 2.7%, while the net asset return rate rose to 7.19%, an increase of 0.57 percentage points [2]. Cost Control and Cash Dividends - The company successfully optimized management processes, resulting in a 5.25% decrease in management expenses and a 3.25% decrease in financial expenses [3]. - The cash dividend for 2024 is proposed at 1.036 yuan per 10 shares, totaling 230 million yuan, which is 13% of the net profit attributable to shareholders, marking an increase from the previous year [3]. International Business Growth - The overseas new contract signing amount reached 3.673 billion yuan, a year-on-year increase of 19.58%, setting a new historical high [3]. - The tunnel construction equipment and related services segment saw overseas contracts of 2.209 billion yuan, up 27.64% year-on-year, with significant market expansion into North America [3]. Industry Position and Market Share - The company maintained a strong market position, with over 60% market share in domestic water conservancy and hydropower projects, and 85% in pumped storage power stations [4]. - The company secured a 19.23% increase in new orders for tunnel drilling equipment, maintaining high market share in key national projects [4]. Core Competitiveness and Innovation - The company increased its R&D investment to 1.834 billion yuan, with an R&D intensity of 6.32%, further enhancing its competitive edge [5]. - The company has been recognized for its innovative engineering teams and has developed advanced equipment, including the world's first 1,000-ton-level new energy bridge-laying machine [5].