Haitong pointed out that the income and new signings of China Energy Construction (601868.SH) continued to increase in the first half of the year, while the profit level of Q2 decreased slightly. The company has obvious advantages in the integration of investment and construction in the fields of energy, power and infrastructure, with accelerated expansion of markets at home and abroad, and additional items smoothly promote the positive development of new energy and energy storage. The bank expects the company's EPS in 23-24 to be 0.21 yuan and 0.25 yuan respectively, giving it a price-to-earnings ratio of 13-15 times earnings in 2023, with a reasonable value range of 2.75-3.17 yuan, maintaining a "better than the market" rating.