宁波建工：2024年主业稳健经营 三维布局驱动高质量发展

Core Viewpoint - Ningbo Construction (601789.SH) reported stable operational performance in 2024 despite challenges in the real estate market, achieving a revenue of 21.06 billion yuan and a net profit of 308 million yuan, with plans for market expansion and business innovation in 2025 [1] Group 1: Business Performance - The company focused on its core construction business, achieving a contract value of 13.65 billion yuan in residential construction, accounting for 58.37% of total contracts [2] - Municipal and landscaping business contributed 5.99 billion yuan, while building materials and prefabricated construction accounted for 1.52 billion yuan [2] - The company also engaged in AI and computing infrastructure, with strategic investments in Zhongjing Cloud, supporting major internet companies [2] Group 2: Industrial Innovation - The company is advancing in industrialized construction and green manufacturing, with subsidiaries achieving significant milestones in prefabricated construction [3] - The company is also innovating in the surveying and design sector, successfully completing a highway project, marking its entry into the highway market [3] Group 3: Market Expansion Strategy - The company has successfully implemented a "going out" strategy, achieving a project value of 14.50 billion yuan in the Ningbo metropolitan area, representing 62% of total projects [4] - It established a subsidiary in Zhenhai District and acquired a high-qualification construction company in Chongqing to enhance its presence in the southwest region [4] - The company expanded its concrete production capacity by establishing new mixing stations and a joint venture for ultra-high-performance concrete [5] Group 4: Future Outlook - The company's market expansion strategy is showing results, with subsidiaries winning several significant projects [6] - The construction industry is expected to improve due to ongoing trade tensions and increased infrastructure demand, presenting structural opportunities for companies like Ningbo Construction [6] - The company aims for high-quality development through a three-dimensional strategy of focusing on core business, regional expansion, and innovation incubation [6]