Investment Rating - The investment rating for the construction decoration industry is "Positive" (maintained) [4] Core Viewpoints - The industry is benefiting from a favorable environment characterized by loose liquidity and low interest rates, making high-dividend, low-valuation stocks attractive for investment [4] - The establishment of the Xinjiang-Tibet Railway Company marks a significant step in the construction of the new railway, with a total investment expected to be between 300 billion to 350 billion yuan, primarily in infrastructure [6][13] - The report emphasizes the importance of companies with clear transformation directions and strong growth potential, particularly in sectors like new energy, intelligent manufacturing, and digital construction [4] Summary by Sections Industry Performance - The Shanghai Composite Index rose by 2.11%, the Shenzhen Component Index by 1.25%, and the ChiNext Index by 0.49% during the week, while the construction decoration index increased by 1.75% [24] Major Projects - The Xinjiang-Tibet Railway, with a total length of 1980 kilometers, is set to connect Xinjiang and Tibet, with a registered capital of 95 billion yuan [6][9] - The project is expected to significantly boost the construction sector, with major construction companies like China Railway and China Railway Construction likely to benefit [16][18] Investment Scale - The total investment for the Xinjiang-Tibet Railway is estimated at 300 billion to 350 billion yuan, with over 60% allocated to infrastructure [13][14] - The investment composition includes civil engineering (44%-51%), track (6%-7%), and vehicle procurement (5%-7%) [14] Key Companies to Watch - Major construction firms such as China Railway, China Railway Construction, and Xinjiang Communications Construction are highlighted as key beneficiaries of the new railway project [16][18] - Companies involved in foundational and material supply, such as Zhongyan Dadi for geotechnical engineering and Huaxin Cement for cement supply, are also recommended [19][20][21] Market Review - A total of 125 construction stocks rose during the week, with Shanghai Port (+30.49%) and Beautiful Ecology (+22.75%) leading the gains [24]

Investment Rating - The report maintains a "Recommended" rating for the industry, suggesting a potential increase of over 15% relative to the benchmark index within the next 12 months [9]. Core Insights - In July 2025, the land supply in 23 key cities in China saw a significant decrease in planned construction area, with a month-on-month decline of 62.9%, totaling 343.9 million square meters [1]. - The total land transaction amount reached 888.88 billion yuan, reflecting a 41% decrease compared to the previous month [1]. - The land transaction premium rate in July 2025 rose to 12.41%, indicating a notable recovery since the beginning of the year [3]. - China Resources Land led the land acquisition with 15 plots, totaling 906.69 billion yuan [3]. Summary by Sections Land Supply and Transactions - In July 2025, 106 residential land plots were launched, with 113 plots successfully transacted, amounting to a total planned construction area of 653.68 million square meters [1]. - The land transaction premium rate has shown a significant increase, indicating a recovery in market confidence [3]. Company Land Acquisition - The report highlights the land acquisition activities of major companies, with China Resources Land acquiring the most plots, followed by Greentown China and China Merchants Shekou [4]. - The average land price per square meter for China Resources Land was 20,422 yuan, while Greentown China had an average of 25,031 yuan per square meter [4]. Investment Recommendations - The report suggests focusing on China Jinmao, which has shown significant land acquisition activity and improvements in corporate governance [4].

Group 1 - The company announced the issuance of the "24铁YK06" bonds on August 15, 2024, aimed at professional investors [1] - The bonds will start paying interest from August 15, 2025, covering the period from August 15, 2024, to August 14, 2025 [1] - The coupon rate for the "24铁YK06" bonds is set at 2.43%, with each bond of face value 1,000 yuan distributing an interest of 24.30 yuan (including tax) [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 2025年8月11日 於本公告日期，本公司的執行董事為陳文健先生（董事長）及王士奇先生；本公司的非執 行董事為文利民先生及房小兵先生；本公司的獨立非執行董事為修龍先生、孫力實女士 及屠海鳴先生。 证券代码：601390.SH/0390.HK 证券简称：中国中铁 债券代码：241445.SH 债券简称：24 铁 YK06 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列中國中鐵股份有限公司於2025年8月8日在上海證券交易所網站刊登的「中國中鐵股 份有限公司2024年面向專業投資者公開發行科技創新可續期公司債券（第三期）（品種二） 2025年付息公告」，僅供參閱。 承董事會命 中國中鐵股份有限公司 陳文健 董事長 中国中铁股份有限公司 2024 年面向专业投资者公开发行科技创 新可续期公司债券(第三期)(品种二)2025 年付息公告 本公司全体董事或具有同等职责的人员保证本公 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列中國中鐵股份有限公司於2025年8月8日在上海證券交易所網站刊登的「中國中鐵股 份有限公司2024年面向專業投資者公開發行科技創新可續期公司債券（第三期）（品種一） 2025年付息公告」，僅供參閱。 承董事會命 中國中鐵股份有限公司 陳文健 董事長 2025年8月11日 证券代码：601390.SH/0390.HK 证券简称：中国中铁 债券代码：241444.SH 债券简称：24 铁 YK05 重要内容提示： 中国中铁股份有限公司（以下简称"公司"或"发行人"）于 2024 年 8 月 15 日 发行了中国中铁股份有限公司 2024 年面向专业投资者公开发行科技创新可续期 公司债券(第三期)(品种一)（以下简称"本期债券"），并将于 2025 年 8 月 15 日 开始支付自 2024 年 8 月 15 日至 2025 年 8 ...

Core Viewpoint - The establishment of the Shield Tunneling Machine (TBM) Big Data Mining Community in Zhengzhou marks a significant step towards data sharing and collaboration in the tunneling industry, addressing current challenges such as fragmented data technology and lack of unified standards [1][2]. Group 1: Establishment and Objectives - The Shield/TBM Big Data Mining Community was founded on August 10, attracting over 400 representatives from more than 160 domestic units [1]. - The community aims to break down "data silos" and create a new intelligent ecological paradigm for the industry [1]. - Three core tasks have been identified: building a unified data center, collaborating on technical challenges, and integrating production and research to accelerate technology transfer [1]. Group 2: Technological Advancements - The "Pioneer Tunnel Model" was released, which is the first vertical large model in the tunnel and underground space sector, facilitating a shift from traditional experience-driven methods to data-driven intelligent decision-making [1]. - The model has achieved over 90% accuracy in predicting complex geological conditions, such as faults and sinkholes, enhancing safety and efficiency in tunnel construction [2]. - The new intelligent feedback technology system has been validated in projects like the plateau railway tunnel and the Chongqing-Taiwan Yangtze River Tunnel, promoting safe, high-quality, efficient, and green tunneling practices [2].

Group 1 - The new Tibet Railway Company, fully owned by China National Railway Group Co., Ltd., was officially established on August 7 [1] - The legal representative of the new company is Ma Yinjun, with a registered capital of 9,500,000,000 yuan [3] - The company is located in Lhasa, Tibet, and operates in the railway transportation industry, with a wide range of business activities including construction, railway transport, and tourism services [3] Group 2 - The company's business scope includes construction project supervision, manufacturing of railway transport infrastructure, public railway transport, catering services, accommodation services, real estate development, and tourism [3] - General projects include auxiliary railway transport activities, sales of railway transport equipment, and various technical services [3]

Core Insights - The Shanghai real estate market saw a total of 4,711 new homes sold in June 2025, representing a month-on-month decrease of 0.98% compared to May [1] - In June, the Fengxian district recorded 100 new home registrations, with a total transaction area of 11,370 square meters and a transaction value of approximately 476.77 million yuan [1] Sales Performance - The top-selling properties in June included: - Xiangyu Jiangwan Yufu in Jinhui with 19 registrations, ranking first - China Railway Construction Xiyu in Xidu with 16 registrations, ranking second [5] - The detailed sales data for June includes: - Xiangyu Jiangwan Yufu: 19 units, 1,654 square meters, 59.78 million yuan - China Railway Construction Xiyu: 16 units, 1,648 square meters, 67.48 million yuan - Zhongjian Yujingyuan: 12 units, 1,459 square meters, 78.00 million yuan - Other notable properties include Shangjiangnan Jinghuimingting, Zhongjian Haiyuefu, and others with varying sales figures [6][7]

人民财讯8月5日电，中国中铁（601390）在互动平台表示，公司在专用牵引供电设备、高速道岔、试验 线工程及系统集成验证等环节深度参与高速磁浮列车项目研究。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國中鐵股份有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00390 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 4,207,390,000 | RMB | | 1 RMB | | 4,207,390,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 4,207,390,000 | RMB | | 1 RMB | | 4,207,390,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | ...