On November 4th, guolian's research report pointed out that China Energy Construction (601868.SH) had a Q3 2024 revenue of 100.9 billion yuan, yoy +8.2%, with a net income attributable to the shareholder of 0.8 billion yuan, yoy +97.8%. The net income attributable to the shareholder grew rapidly, with some low base reasons, and in Q3 2024, there were more non-recurring items, including non-current asset disposal gains that included impairment provision write-back. Considering the company's growth and pressure on receivables, the previous profit forecast was lowered. It is expected that the company's net income attributable to the shareholder for 2024-2026 will be 8.1/9/10.1 billion yuan respectively, yoy +2%/11%/11%. Recently, the company announced that the controlling shareholder intends to increase the total amount of shareholding by 0.3-0.5 billion yuan, demonstrating the company's confidence in growth prospects and recognition of the investment value of the company. Based on the company's target for the "14th Five-Year Plan" to double its indicators by 2025, creating a new high-quality development for China Energy Construction. The prospects of the new energy construction are promising. Maintain a "buy" rating.