Core Viewpoint - China State Construction Engineering Corporation (Shenzhen) has been leading the transformation of urban construction in Shenzhen, particularly in Longhua District, by focusing on public cultural facilities, education, healthcare spaces, urban renewal, and industrial platform construction, contributing to regional industrial upgrades and improved public services [4][5]. Group 1: Urban Development and Cultural Infrastructure - The cultural facility cluster in Longhua, including the library, art center, grand theater, and science museum, is nearing completion with a total construction area of approximately 221,800 square meters, aimed at enhancing the region's cultural and technological integration [6]. - The project has established a comprehensive BIM application management system, significantly advancing construction progress ahead of schedule and fostering a new generation of BIM professionals [6]. - The successful implementation of these cultural facilities reflects the higher demands for modernization in urban governance, emphasizing digitalization, sustainability, and institutional innovation [6]. Group 2: Education and Healthcare Initiatives - The company is involved in educational projects like the Longhua Science Experimental High School, which integrates smart campus systems and green building concepts to create future-oriented learning environments [7]. - Healthcare projects, including the expansion of Longhua District People's Hospital and Longhua Maternal and Child Health Hospital, are progressing steadily, utilizing modular construction and BIM technology to enhance regional healthcare service capacity [7]. - These initiatives provide replicable construction experiences for improving grassroots healthcare systems [7]. Group 3: Industrial Platform Development - The company is advancing the construction of the Qinghu Cultural Industry Park, incorporating digital technologies like construction robots and drone inspections to achieve intelligent project management [9]. - The establishment of the Shenzhen Intelligent Construction Industry Promotion Association has attracted over 30 research and industry units, focusing on smart construction, artificial intelligence, and low-altitude economy research [9]. - The implementation of self-developed drone inspection systems and low-carbon recycling technologies has improved management efficiency and resource utilization [9]. Group 4: Project Management and Governance - The company has maintained high-frequency collaboration with local government entities, achieving over 90% of projects rated as excellent or good in performance evaluations [9]. - Digital tools such as emergency command centers and AR systems have been employed for comprehensive monitoring and risk identification in project management [9]. - The integration of party-building initiatives has also played a crucial role in enhancing project delivery efficiency [9]. Group 5: Management Innovation and Future Outlook - The company has continuously innovated its management model, establishing four major platforms and exploring cloud city management and specialized project management mechanisms [10]. - These innovations are seen as a "Shenzhen model" for enhancing governance capabilities in large construction enterprises [10]. - The company aims to further explore sustainable urban construction models, focusing on smart construction, green low-carbon initiatives, and urban renewal to contribute to high-quality regional economic and social development [11].

Core Insights - The article discusses the successful acquisition of a residential land plot in Guangzhou by China State Construction International, highlighting the company's strategy in the local real estate market [1][3]. Group 1: Land Acquisition Details - The land plot in question, located in Baiyun District, was sold for a base price of 315 million yuan, with a floor price of 4,642 yuan per square meter [1]. - The plot covers an area of 107,000 square meters, with a maximum buildable area of 67,800 square meters, designated for resettlement housing [1]. - China State Construction International has previously acquired multiple resettlement housing plots in Guangzhou, including two adjacent plots in Jianggao Town for a total of 959 million yuan, with a floor price of 6,438 yuan per square meter [1][3]. Group 2: Market Strategy and Trends - The company has been actively participating in the acquisition of resettlement land due to the "targeted repurchase" model introduced by Guangzhou at the end of 2022, which combines public land auctions with guaranteed repurchase by the government [3][4]. - This model allows for market-based land pricing while providing developers with a stable revenue channel, making costs and profits more manageable, especially for companies with experience in project management [3][4]. - Since its transformation in 2018, China State Construction International has shifted its focus from PPP projects to government-directed repurchase projects, successfully completing over 50 guaranteed housing projects nationwide, with a total repurchase value exceeding 60 billion yuan [4].

人民财讯1月4日电，1月4日，广州一宗白云区太和镇安置房用地出让，建设用地面积22600㎡，规划建 筑面积67800㎡，住宅容积率3.0，起始价3.15亿元，起始楼面价4642元/㎡。最终广州海耀投资开发有限 公司(中建国际)以底价3.15亿元竞得地块，成交楼面价4642元/㎡。 ...

Core Viewpoint - The land parcel AB1208028 in Baiyun District was successfully auctioned to China State Construction International at a base price of 31,470.52 million yuan, translating to a floor price of 4,641.67 yuan per square meter [1][4]. Group 1: Land Parcel Details - The total area of the land parcel is 106,579 square meters, with a buildable area of 88,716 square meters and a residential buildable area of 22,600 square meters, resulting in a total construction area of 67,800 square meters and a plot ratio of 3.0 [3][4]. - The land is designated for residential use (R2) and is intended for housing relocation purposes [4][5]. Group 2: Development Obligations - The winning bidder is required to sign a project repurchase contract with Guangzhou Minke Urban Renewal Investment Co., Ltd. within one month of signing the land use rights transfer contract, with a total repurchase price of 104,061.08 million yuan [4]. - The developer must also construct a 36-class junior high school and a 30-class primary school as per planning requirements, which must be completed and handed over to the Guangzhou Baiyun District Education Bureau [5]. Group 3: Market Context - The auction of this land parcel follows a recent trend where China State Construction International has been actively acquiring similar land parcels, including two adjacent relocation housing plots in Jianggao Town, which were sold for a total of 95,880.79 million yuan [7]. - The previous land parcels had higher floor prices, with one reaching 6,616.6 yuan per square meter and another at 6,438 yuan per square meter, indicating a competitive bidding environment [7].

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12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: 中國建築國際集團有限公司 呈交日期: 2026年1月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03311 | 說明 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | 60,000,000,000 | HKD | | 0.025 HKD | | 1,500,000,000 | | 增加 / 減少 (-) | | | 0 | | HKD | | 0 | | 本月底結存 | | 60,000,000,000 | HKD | | 0.025 HKD | | 1,500,000,000 | 本月底法定/註冊股本總額： HKD 1,500,000,0 ...

Group 1 - The core viewpoint of the news is that Southbound funds have significantly increased their holdings in China State Construction International (03311.HK), indicating growing investor confidence in the company [1] - Over the past five trading days, Southbound funds have increased their holdings for four days, with a total net increase of 1.228 million shares [1] - In the last twenty trading days, there have been eighteen days of net increases, totaling 24.812 million shares [1] Group 2 - As of December 30, 2025, Southbound funds hold a total of 514 million shares of China State Construction International, representing 9.72% of the company's issued ordinary shares [1] - The daily changes in shareholding show a fluctuation, with the most recent increase being 536,000 shares, which is a 0.10% change [2] - The company primarily engages in construction business, infrastructure project investment, toll road operations, project supervision services, and other related activities [2]

Core Viewpoint - The "2025 Annual Excellent Case of Green Development" was announced at the "2025 Green Development Summit," highlighting the importance of sustainable urban renewal projects in China [1] Group 1: Project Overview - The Huapicun Hutong No. 8 project, developed by China State Construction International Group, is recognized as the first modular integrated construction (MiC) technology project for the renovation of dilapidated buildings in Beijing [1][2] - The project utilized an "original demolition and reconstruction" model, significantly enhancing safety, livability, and property value, with completion from demolition to construction taking only three months [2][3] Group 2: Technological Innovation - MiC technology, developed by China State Construction International, allows over 90% of construction processes to be completed in a factory, reducing construction waste by 75% and material waste by 25% compared to traditional methods [2][4] - The project incorporated advanced design features such as noise reduction, waterproofing, and energy-efficient installations, addressing the living conditions of residents effectively [3][4] Group 3: Future Projects and Impact - Following the success of Huapicun Hutong No. 8, another project at Sanlihe District No. 28 has also adopted MiC technology, marking a shift from pilot projects to mature applications in urban renewal [4][5] - The project aims to meet the "good housing" construction standards and includes features like barrier-free elevators and enhanced kitchen and bathroom spaces, increasing the overall building area by approximately 17% [4][5] Group 4: Broader Implications - The development of the Dinghuisi project as Beijing's first concrete modular affordable housing project will provide 241 rental units, contributing to a multi-tiered housing security system [6] - The establishment of the Zhongjian Hailong Intelligent Construction Industrial Park aims to create a comprehensive base for MiC technology, promoting green building practices and supporting regional economic development [6]

Group 1 - The "Annual ESG Pioneer Award (Large Market Capitalization)" recognizes companies that balance economic efficiency with social responsibility, highlighting their contributions to environmental, social, and governance (ESG) practices [1] - Ten companies, including Aier Eye Hospital, Beike, Bosideng, Mengniu Dairy, CATL, Tongcheng Travel, Weichai Power, China Feihe, China State Construction International, and Sinotruk, received the award [1] - The evaluation process involved quantitative data analysis and expert review to determine the final results of the award [1] Group 2 - The "Golden Award" aims to create a reference list of the most valuable listed companies and unicorns in the investment community, covering all listed companies on major exchanges including HKEX, SSE, SZSE, NYSE, and NASDAQ [2]

Core Insights - The "Golden Award" annual excellence company selection by Gelonghui will reveal a list of notable companies, highlighting those recognized for their contributions to ESG (Environmental, Social, Governance) principles [1][2] Group 1: Award Winners - Ten companies have been awarded the "Annual ESG Pioneer Award (Large Market Capitalization)," including Aier Eye Hospital, Beike, Bosideng, Mengniu Dairy, CATL, Tongcheng Travel, Weichai Power, China Feihe, China State Construction International, and Sinotruk [1] - The award aims to identify companies that balance economic efficiency with social responsibility, recognizing their outstanding contributions to promoting ESG concepts and pursuing high-quality sustainable development [1] Group 2: Evaluation Process - The selection process for the awards involved quantitative data analysis and evaluation by an expert review panel to determine the final results [1] - The "Golden Award" aims to create a reference list of the most valuable listed companies and unicorns in the investment community, covering all listed companies on major exchanges including the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, and NASDAQ [2]

Investment Rating - The report recommends a "Buy" rating for several construction companies, highlighting their potential for high returns based on expected dividend yields and low valuations [9][32]. Core Insights - The current policy environment is driving an increase in insurance capital allocation to the stock market, with a notable acceleration in Q3 this year. Insurance capital is favoring construction stocks with high ROE, high dividend yields, and low valuations, particularly focusing on companies like China Electric Power Construction, China State Construction, and Sichuan Road and Bridge [1][2][14]. - It is estimated that the construction sector will receive an additional allocation of 28.6 billion yuan by 2026, representing 3.5% of the free float market value. Key A-share stocks recommended include Sichuan Road and Bridge (6.3% yield), Jianghe Group (6.5%), and others, while H-share stocks include China State Construction International (7.2%) and China Communications Construction (6.0%) [1][8][32]. Summary by Sections Insurance Capital Trends - As of Q3 2025, the total balance of insurance capital in China reached 37.5 trillion yuan, a year-on-year increase of 16.5%. The allocation to stocks and funds was 3.6 trillion and 2.0 trillion yuan, respectively, accounting for 15.5% of total investments, with a significant increase noted in Q3 [2][22]. - The top three construction stocks held by insurance capital are China Electric Power Construction, China State Construction, and Sichuan Road and Bridge, which together account for 75% of the insurance capital's construction sector holdings [2][22]. Expected Capital Allocation - The projected allocation of insurance capital to the construction sector is estimated at 50.8 billion yuan in 2025 and 79.4 billion yuan in 2026, with an incremental increase of 28.6 billion yuan in 2026 [3][28]. - The overall allocation ratio for the construction sector is expected to rise from 1.31% in 2025 to 1.60% in 2026, driven by the sector's attractive dividend yield compared to other sectors [3][28]. Recommended Stocks - Key A-share stocks with expected dividend yields over 5% include Sichuan Road and Bridge (6.3%), Jianghe Group (6.5%), and others. H-share stocks include China State Construction International (7.2%) and China Communications Construction (6.0%) [1][29][32]. - The report also highlights semiconductor cleanroom leaders such as Yaxiang Integration and Shenghui Integration, which are expected to benefit from the ongoing AI investment wave [1][8][32].