Core Insights - The 2025 Guangdong Construction Industry Modernization Development Conference and Guangdong International Construction Industry Expo opened in Guangzhou, focusing on "Digital Intelligence Empowerment, New Quality Development, Building the Future of Guangdong" [1] - The event attracted over 200 participating units from the construction industry, showcasing advancements in technology and resources aimed at modernizing the construction sector [1][3] Group 1: Industry Trends - The construction industry is transitioning from high-speed growth to high-quality development, emphasizing quality over quantity [4] - Guangdong is leading the way in integrating new construction technologies and industrialization, particularly in smart construction and modular buildings [3][4] - The conference highlighted the importance of urban renewal and resource revitalization in enhancing city vitality [4] Group 2: Key Initiatives - The "Hundred Million Project" aims to achieve significant results within three years, with over 11,000 projects initiated and an investment of nearly 170 billion yuan by October [7] - Central enterprises like China State Construction and China Railway are playing a pivotal role in supporting local construction efforts and demonstrating leadership in rural development [7][8] - The conference facilitated cooperation agreements among construction enterprises to enhance resource integration and promote the "Hundred Million Project" [7] Group 3: Future Directions - The event included discussions on cultivating new productive forces in the construction industry and promoting the construction of quality housing [8] - Various activities, such as the Guangdong Provincial Construction Culture Promotion Week and exchanges among young architects, were organized to explore modernization pathways [8]

Group 1 - Southbound funds increased their holdings in China State Construction International (03311.HK) by 1.66 million shares on November 20, 2025, representing a change of 0.34% [1][2] - Over the past five trading days, southbound funds have increased their holdings for five days, with a total net increase of 9.50 million shares [1] - In the last 20 trading days, there have been 18 days of net increases, totaling 25.24 million shares [1] Group 2 - As of now, southbound funds hold 487 million shares of China State Construction International, accounting for 9.21% of the company's total issued ordinary shares [1] - The company primarily engages in construction business, infrastructure project investment, toll road operations, project supervision services, and exterior wall engineering [2] - Additionally, the company is involved in the renovation of industrial plants, providing project supervision services, selling construction materials, and leasing machinery and investment properties [2]

Group 1 - Southbound funds increased their holdings in China State Construction International (03311.HK) by 1.926 million shares on November 17, 2025 [1] - Over the past 5 trading days, southbound funds have increased their holdings for 5 days, with a total net increase of 11.456 million shares [1] - In the last 20 trading days, there have been 17 days of increased holdings by southbound funds, totaling a net increase of 21.552 million shares [1] Group 2 - As of now, southbound funds hold 482 million shares of China State Construction International, accounting for 9.11% of the company's issued ordinary shares [1] - The total number of shares held on November 17, 2025, was 482 million, reflecting a change of 0.40% [2] - The company is primarily engaged in construction business, infrastructure project investment, toll road operations, project supervision services, and exterior wall engineering [2]

Core Viewpoint - China State Construction International won two adjacent residential land parcels in Guangzhou's Baiyun District for a total of 95,880.79 million yuan, indicating strong demand for real estate in the area [1] Group 1: Land Acquisition Details - The total price for the AB0101011 parcel is 40,075.16 million yuan with a premium rate of 37.8% and a floor price of 6,438 yuan per square meter [1] - The total price for the AB0101013 parcel is 55,805.63 million yuan with a premium rate of 28.9% and a floor price of 5,941 yuan per square meter [1] - Both parcels are located near the completed Huangjinwei Avenue and are approximately 400 and 500 meters from the Guangfo West Ring Shenshan Station [1] Group 2: Surrounding Infrastructure - The area currently has one primary school and two secondary schools, with plans for an additional 24-class primary school [1] Group 3: Repurchase Agreement - The winning bidder must sign a project repurchase contract within one month of signing the land use rights transfer contract with Guangzhou Minke Garden Urban Renewal Investment Co., Ltd [1] - The repurchase total for the AB0101011 parcel is 88,930.92 million yuan with a repurchase price of 14,287 yuan per square meter [1] - The repurchase total for the AB0101013 parcel is 129,410.32 million yuan with a repurchase price of 13,777 yuan per square meter [1]

Core Viewpoint - Southbound funds have significantly increased their holdings in China State Construction International (03311.HK), indicating growing investor confidence in the company [1] Group 1: Shareholding Changes - On November 12, 2025, southbound funds increased their holdings by 3.312 million shares, representing a 0.70% change [2] - Over the past five trading days, there have been five days of net increases, totaling 7.69 million shares [1] - In the last twenty trading days, there were 17 days of net increases, amounting to 16.706 million shares [1] Group 2: Current Holdings - As of now, southbound funds hold a total of 474 million shares of China State Construction International, which accounts for 8.97% of the company's total issued ordinary shares [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Views - The company's revenue for the first three quarters is 77.7 billion HKD, a year-on-year decline of 4.7%, while the net profit attributable to shareholders is 7.24 billion HKD, an increase of 6% year-on-year. In the third quarter alone, the net profit attributable to shareholders is 1.98 billion HKD, reflecting a year-on-year growth of 8.4% [2][6]. - The revenue structure is further optimized, with technology-driven businesses becoming a new growth engine. The revenue from technology-driven operations increased by 53.2% year-on-year, accounting for 34.9% of total revenue, an increase of approximately 13.2 percentage points [9]. - The company signed new contracts worth 128.01 billion HKD in the first three quarters, with technology-driven contracts accounting for 48.5% of the total, moving steadily towards the target of 50% [9]. - The gross profit margin in Hong Kong remains under pressure but is expected to stabilize and recover. The gross profit margin in Hong Kong is 5.2%, down 1.9 percentage points year-on-year, primarily due to a sluggish property market [9]. - The company's MiC (Modular Integrated Construction) business is making further breakthroughs, with projects in major cities like Beijing and Guangzhou. The Hong Kong government has increased its average annual infrastructure spending forecast from approximately 90 billion HKD to 120 billion HKD [9]. - The company is actively expanding its operational business through acquisitions, enhancing cash flow and highlighting its dividend attributes. If the company achieves a 10% growth rate in 2025, the projected dividend yield is approximately 6.5% based on a 33% payout ratio [9].

Core Viewpoint - Southbound funds have increased their holdings in China State Construction International (03311.HK) by 760,000 shares on November 6, 2025, marking a positive trend in investment interest [1] Group 1: Southbound Fund Activity - In the last five trading days, southbound funds have increased their holdings for four days, with a total net increase of 4,482,000 shares [1] - Over the past 20 trading days, there have been 14 days of net increases, totaling 7,814,000 shares [1] - As of now, southbound funds hold 466,700,000 shares of China State Construction International, representing 8.84% of the company's total issued ordinary shares [1] Group 2: Shareholding Changes - On November 6, 2025, the total number of shares held was 466,700,000, with a change of 760,000 shares, reflecting a 0.16% increase [2] - On November 5, 2025, there was an increase of 102,000 shares, a 0.02% change [2] - On November 4, 2025, there was a decrease of 1,168,000 shares, a -0.25% change [2] - On November 3, 2025, there was an increase of 210,000 shares, a 0.04% change [2] - On October 31, 2025, there was a significant increase of 4,578,000 shares, a 0.99% change [2] Group 3: Company Overview - China State Construction International Group Limited primarily engages in construction business and investment holding [2] - The company is involved in infrastructure project investment, toll road operations, project management services, and external wall engineering [2] - Additionally, the company undertakes industrial plant renovations, provides project management services, sells construction materials, and leases machinery and investment properties [2]

Core Viewpoint - The construction of the South Ahmad City infrastructure project in Kuwait focuses on water management, addressing challenges related to groundwater, rainwater, and wastewater treatment [1][2][3]. Group 1: Groundwater Management - The project site has an average of 1-2 meters of groundwater, with seawater intrusion causing significant challenges during construction, including water levels reaching up to 2.5 meters [2]. - Six dewatering solutions were developed to manage groundwater levels, including surface recharge measures to maintain ecological balance and utilize excess water for construction needs [2][3]. Group 2: Rainwater Management - The project incorporates sponge city technology to collect and recycle rainwater, with plans to install approximately 76,009 rainwater collection units and over 264 kilometers of rainwater pipelines [3]. - The rainwater collection system is designed to support irrigation for green spaces, with a capacity to provide enough water for 50 acres of vegetation for a year after a single collection [3]. Group 3: Wastewater Management - The project will provide modern living conditions for at least 100,000 residents, integrating wastewater treatment and reuse into its design [3][4]. - Over 260 kilometers of wastewater pipelines will be installed, with a treatment capacity exceeding 50,000 cubic meters, allowing treated wastewater to be used for irrigation [3][4]. Group 4: Project Scale and Impact - The South Ahmad City infrastructure project covers an area of approximately 52.79 square kilometers and employs over 1,400 workers [4]. - The timely completion of the project is expected to alleviate housing pressure in the old Ahmad area, enhancing the living environment for local residents [4].

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: 2025年11月3日 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10月31日 狀態: 新提交 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 ...

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份內容而產生或因依賴該等內容而引致的任 何損失承擔任何責任。 (於開曼群島註冊成立之有限公司) (股份代號 : 3311) 續 訂 與 中 國 海 外 發 展 有 限 公 司 有 關 建 築 工 程 的 持 續 關 連 交 易 茲提述本公司日期為二零二二年十月二十五日的公告及本公司日期為二零二二年十一月 二十五日的通函，內容有關（其中包括）本公司與中海發展訂立並將於二零二五年十二 月三十一日屆滿的現有總承建協議。 預計於現有總承建協議屆滿後，中海發展集團將邀請本集團以建築承建商身份參與競投 中海發展集團於中國、香港及澳門的建築工程。因此，於二零二五年十月三十一日，本 公司與中海發展訂立新總承建協議，以續訂現有總承建協議，期限為自二零二六年一月 一日起至二零二八年十二月三十一日止三個財政年度，據此，(i)本集團於截至二零二八 年十二月三十一日止三個財政年度期間，可不時以建築承建商身份參與競投中海發展集 團於中國、香港及澳門的建築工程，惟須受限於年度上限；及(ii)於 ...