Shanghai Geoharbour announced that the company plans to increase its investment in its wholly-owned subsidiary Geoharbour Middle East Ground Engineering Services L.L.C by USD 10 million for strategic reserve funds for bidding on large projects. Geoharbour Dubai Engineering was established on August 19, 2023, with a registered capital of 3.7 million dirhams. The projected operating income for 2024 is 41.0269 million RMB, with a net profit of 5.725 million RMB. The company will pay the investment funds to Geoharbour Dubai Engineering in installments based on the progress of the bidding projects and funding needs. This increase in investment aims to seize the opportunities brought by the energy transition in the Middle East for infrastructure renovation and new construction, continuously expand the overseas market footprint, further enhance market share, and strengthen the company's competitive strength