Const: Orders on hand, projects under negotiation and in bidding all meet expectations at the beginning of the year.

Const held its earnings briefing on October 28, stating that the company's products are mainly standard products with short order cycles and timely delivery capability, so the absolute scale of its order backlog is not large, reflecting a rolling delivery model. Normally, November and December are the main order delivery points in the domestic market, while the pace in the international market slows slightly due to the Christmas holiday in December. Since the beginning of this year, the external geopolitical environment has generally been in a predictable state, with no major unexpected changes. Overall, the order backlog and projects under negotiation and bidding are all in line with the company's expectations at the beginning of the year.