Chung Yu's First Quarter Construction Projects Total 14.6 Billion Yuan as it Expands Water Reclamation Engineering
At the forefront of innovative engineering within the steel industry, the Chung Steel (2002-TW) subsidiary Chung Yu (1535-TW) has made remarkable strides in the first quarter of the year. The company has successfully contracted an impressive 14.6 billion yuan in unfinished construction projects. With a concerted push from Chung Steel towards the utilization of reclaimed water, Chung Yu is leveraging the group's research and development capabilities to significantly enhance its engineering scope and technological developments in this field.
Chung Yu’s project portfolio showcases a diverse range of undertakings, highlighting the company's adeptness in various sectors. Specifically, mechanical and electrical engineering projects represent 63% of the current construction volume. This is followed by green energy and environmental engineering, which accounts for 24%, thermal resistant material engineering at 12%, and biotechnology engineering at 1%. These figures underscore a strategic focus on innovative and sustainable engineering solutions that align with global environmental trends.
Looking to the future, Chung Yu has set ambitious goals not only to continue its collaboration with Chung Steel on steel hardening projects and carbon capture initiatives but also to expand its endeavors into energy storage integrated with microcomputer systems, and solar (PV) installation projects. This expansion is geared towards enhancing energy efficiency and reducing carbon footprints. Additionally, the company is actively developing water reclamation projects, improving air and water pollution control technologies in partnership with thorough research and development efforts within the group.
From a financial perspective, Chung Yu reported a first-quarter revenue of 2.604 billion yuan, marking a 30% increase compared to the same period last year. The gross profit margin stood at 9%, which is consistent with the previous year, while operating profit surged by 93% to 109 million yuan. Operating margin improved by 1 percentage point to 4%, and net income after taxes rose modestly by 4% to 119 million yuan, resulting in earnings per share of 0.97 yuan.
In terms of revenue composition, mechanical and electrical engineering projects constituted 37%, operation and maintenance contracts made up 28%, green energy, and environmental engineering contributed 18%, thermal resistant material engineering 14%, and others amounted to 2%, with ongoing construction projects slightly above 1%.
Chung Yu stands poised not only to fulfill its current project obligations but to drive forward the sustainable and innovative solutions demanded by modern infrastructural needs and environmental considerations. As they continue to expand their portfolio and enhance their technological capabilities, Chung Yu reaffirms its commitment to quality, sustainability, and innovation, mirroring the beginning thrust towards enhancing their role in water reclamation and other eco-friendly initiatives.
Chung Yu’s project portfolio showcases a diverse range of undertakings, highlighting the company's adeptness in various sectors. Specifically, mechanical and electrical engineering projects represent 63% of the current construction volume. This is followed by green energy and environmental engineering, which accounts for 24%, thermal resistant material engineering at 12%, and biotechnology engineering at 1%. These figures underscore a strategic focus on innovative and sustainable engineering solutions that align with global environmental trends.
Looking to the future, Chung Yu has set ambitious goals not only to continue its collaboration with Chung Steel on steel hardening projects and carbon capture initiatives but also to expand its endeavors into energy storage integrated with microcomputer systems, and solar (PV) installation projects. This expansion is geared towards enhancing energy efficiency and reducing carbon footprints. Additionally, the company is actively developing water reclamation projects, improving air and water pollution control technologies in partnership with thorough research and development efforts within the group.
From a financial perspective, Chung Yu reported a first-quarter revenue of 2.604 billion yuan, marking a 30% increase compared to the same period last year. The gross profit margin stood at 9%, which is consistent with the previous year, while operating profit surged by 93% to 109 million yuan. Operating margin improved by 1 percentage point to 4%, and net income after taxes rose modestly by 4% to 119 million yuan, resulting in earnings per share of 0.97 yuan.
In terms of revenue composition, mechanical and electrical engineering projects constituted 37%, operation and maintenance contracts made up 28%, green energy, and environmental engineering contributed 18%, thermal resistant material engineering 14%, and others amounted to 2%, with ongoing construction projects slightly above 1%.
Chung Yu stands poised not only to fulfill its current project obligations but to drive forward the sustainable and innovative solutions demanded by modern infrastructural needs and environmental considerations. As they continue to expand their portfolio and enhance their technological capabilities, Chung Yu reaffirms its commitment to quality, sustainability, and innovation, mirroring the beginning thrust towards enhancing their role in water reclamation and other eco-friendly initiatives.
Last edited at：2024/12/16
#China Steel Corporation