Group 1 - The core point of the news is that southbound funds have increased their holdings in China State Construction International (03311.HK) by 450,000 shares on October 15, 2025, despite a net reduction in holdings over the past trading days [1] - Over the last 5 trading days, there were 3 days of net reductions totaling 1,512,000 shares, indicating a fluctuating interest from southbound funds [1] - In the last 20 trading days, there were 15 days of net reductions, amounting to a total of 21,173,300 shares, showing a significant trend of selling pressure [1] Group 2 - As of now, southbound funds hold 458 million shares of China State Construction International, which represents 8.66% 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 buildings, providing project supervision services, selling construction materials, and leasing machinery and investment properties [2]

承董事局命 中國建築國際集團有限公司 主席兼執行董事 張海鵬 香港，二零二五年十月十五日 於本公告日期，董事局成員包括主席兼執行董事張海鵬先生；非執行董事顏建國先生及叶楠先 生；執行董事王曉光先生（行政總裁）及孔祥兆先生；及獨立非執行董事王惠貞女士、陳子政先 生及陳帆先生。 ( 於開曼群島註冊成立之有限公司 ) (股份代號 : 3311) 董事局會議召開日期 中國建築國際集團有限公司(「本公司」)董事局(「董事局」)謹此宣佈，本公司 將於二零二五年十月二十七日(星期一)舉行董事局會議，藉以(其中包括)審議及 批准本公司及其附屬公司二零二五年第三季度未經審核財務資料及未經審核經 營情況及其發佈。 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依賴該 等內容而引致的任何損失承擔任何責任。 ...

Core Insights - The successful sale of two residential plots and one industrial plot in Baiyun District, Guangzhou, totaled over 2 billion yuan, indicating strong market interest and investment potential in the area [1][3][10] - The rapid development of Baiyun District is attracting non-local enterprises to invest in the housing market, highlighting the district's growing appeal as an investment destination [1][10][11] Group 1: Residential Land Sales - The residential plots are closely linked to the urban village renovation in Baiyun District, which will accelerate the transformation process [1][3] - The plot on Qifu Road was acquired by Guangzhou Lvying Real Estate Development Co., Ltd. for approximately 1.333 billion yuan, with a floor price of about 33,000 yuan per square meter [1][3] - The successful sale of these plots reflects the district's robust planning and market engagement, contributing to a favorable business environment [3][10] Group 2: Industrial Land Sales - The industrial plot on Guanghua Road was acquired by Guangzhou Jiangfeng Industrial Co., Ltd. for 72 million yuan, aimed at establishing a food processing base and related facilities [11][13] - Jiangfeng Industrial, a local enterprise, plans to expand its production capacity, reflecting the ongoing growth of modern agriculture in Baiyun District [11][13] - The district's modern agricultural sector is thriving, with significant investments and projects being developed, enhancing its industrial landscape [11][13] Group 3: Urban Development and Infrastructure - The Baiyun District government approved a detailed plan for the Baiyun Station to Baiyun New City area, which includes the renovation of Tangchong and Xiaogang villages, further enhancing the region's development prospects [5] - The Qifu Road plot is strategically located near key transportation hubs, including metro lines and the Baiyun International Conference Center, underscoring its advantageous position [3][10] - Baiyun New City is becoming a hub for high-end industries, attracting a significant influx of talent and investment, which supports the area's economic growth [3][10]

Group 1 - Guangzhou has recently auctioned two prime land parcels with a total transaction price of approximately 1.977 billion yuan [2] - The AB2804035 parcel in Baiyun District was acquired by Greentown China at a base price of 1.33281 billion yuan, translating to a floor price of about 33,000 yuan per square meter [2] - The AB1209039 and AB1209040 parcels in Taihe Town were won by China State Construction with a total price of 644 million yuan, resulting in a floor price of approximately 6,617 yuan per square meter and a premium rate of 16% [2][3] Group 2 - The AB2804035 parcel is strategically located near key transport links, including the Guangzhou Metro Line 2 and is within proximity to major landmarks such as the Baiyun International Conference Center and Baiyun Airport [2] - The total area of the AB2804035 parcel is 21,111 square meters, with a buildable area of 13,353 square meters and a floor area ratio of approximately 3.0 [2] - The AB1209039 and AB1209040 parcels are designated for residential use, with a total area of about 43,731 square meters and a buildable area of approximately 97,346 square meters, located near the Taihe Metro Station [3] - The project on the AB1209039 and AB1209040 parcels will be repurchased by Guangzhou Minke Urban Renewal Investment Co., Ltd. for a total price of 1.499 billion yuan, equating to a repurchase price of 15,400 yuan per square meter [3] - These land sales represent innovative models for urban village redevelopment in Guangzhou, providing replicable experiences for similar projects in the region [3]

Core Insights - In the first half of 2025, China State Construction International Group (03311.HK) demonstrated resilience and strategic execution amidst global economic uncertainties, achieving steady business growth and structural optimization [1][16] - The company reported a new contract value of RMB 92.55 billion and revenue of RMB 56.64 billion, with a year-on-year revenue growth of 0.1% [1] - Shareholder profit increased by 5.1% to RMB 5.26 billion, indicating improved profit quality as profit growth outpaced revenue growth [1] - The board declared an interim dividend of HKD 0.34 per share, with a payout ratio of approximately 31.1% [1] Financial Performance - The company's operating cash flow improved to RMB 123 million, marking the fourth consecutive year of positive cash flow [2] - Cash on hand reached RMB 33.20 billion, accounting for 12.0% of total assets, while the net debt ratio decreased to 65.2%, down 8.4 percentage points from the end of 2024 [2] - The company has unused bank credit facilities amounting to RMB 126.07 billion, providing ample funding for future expansion [2] Business Segments - Revenue from technology-driven businesses surged by 73.4% to RMB 20.54 billion, primarily due to the increased market penetration of Modular Integrated Construction (MiC) technology [1] - Conversely, investment-driven business revenue declined by 21.5% to RMB 20.79 billion, reflecting the company's strategy to optimize investment pace and select high-quality projects [1] Regional Performance - The mainland market's gross profit margin improved by 2.5 percentage points to 22.8%, attributed to effective cost control and deep engagement in high-potential regions [2] - The Hong Kong market's gross profit margin fell by 1.9 percentage points to 5.2%, impacted by a sluggish local property market [2] Technological Innovation - The MiC technology significantly enhanced project efficiency, exemplified by the Huapi Factory Hutong project in Beijing, which reduced construction time by 80% and labor needs by 60% compared to traditional methods [3][6] - The project integrated BIM technology for full lifecycle digital management, ensuring precision and efficient collaboration [6] Social Responsibility - The company has actively engaged in social welfare projects, including affordable housing initiatives and community support programs, demonstrating its commitment to social responsibility [10][13] - Innovative financing models, such as the "purchase and repurchase" model, have been employed to alleviate government funding pressures while expediting project delivery [12] Future Outlook - The company aims to continue its focus on "technology-driven, green development" strategies, expanding its presence in the Hong Kong market and enhancing its ESG performance [16]

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9月30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: 2025年10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 (-) | | | | | | HKD | | | | 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： H ...

Core Insights - The signing of the cooperation agreement between China State Construction's Yunqi Fenghua project and Licheng No. 2 Middle School Education Group marks a significant step in enhancing quality educational resources in Jinan's "Dongqiang" core area, promoting the integration of education with urban development and community living [1][8] Group 1: Project Overview - The signing ceremony was attended by leaders from both parties, emphasizing the importance of this collaboration for regional education and living standards [3] - The project is recognized as a pilot for "good housing" in Shandong Province, aiming to integrate quality educational resources with high-quality living experiences [3][8] Group 2: Educational Group Strength - Licheng No. 2 Middle School Education Group has a strong educational foundation, established in 1958, and has developed a comprehensive education matrix covering all school stages [4] - The group has notable achievements, including winning 6 international Olympiad gold medals and 85 national Olympiad gold medals, showcasing its strength in cultivating innovative talents [4] Group 3: Future Goals and Development - The new campus aims to address the scarcity and imbalance of quality educational resources in the region, with a vision to become a leading school within 3-5 years [5][6] - The school will implement an innovative educational model, focusing on resource sharing and collaborative management to enhance educational quality and equity in the region [5][6] Group 4: Integration of Education and Living - The collaboration aims to create a new paradigm of integrating educational resources with high-quality living environments, enhancing the residential experience in Jinan's eastern area [8] - The project will also introduce new residential offerings that combine quality education with low-density living options for the elite in Jinan [10]

Core Insights - The recent land auction in Nanjing concluded with all seven residential plots sold at base prices, totaling 4.445 billion yuan, without any competitive bidding [1][2][7] - This auction contrasts sharply with previous competitive land sales in the region, indicating a shift in market dynamics [1][2] Summary by Sections Auction Results - All seven plots, including six residential and one senior living plot, were sold at base prices, with a total area of approximately 318,000 square meters and a planned construction area of about 435,000 square meters [1] - The highest-priced plot was the Jiangning Fangshan G62 plot, acquired by Nanjing Zhuoxue Real Estate for 930 million yuan, followed by the Xianlin Lake G64 plot at 908 million yuan [2] Supply Characteristics - The auction featured a concentration of low-density plots, with four out of seven plots having a floor area ratio below 1.8, indicating a strategic shift towards lower-density residential developments [3] - The supply structure reflects Nanjing's "optimal supply, demand-based supply" strategy, addressing the mismatch between high-density supply and the increasing demand for low-density housing [4] Market Dynamics - The participation in the auction was predominantly from state-owned enterprises, with six out of seven plots acquired by central or local state-owned companies, highlighting a lack of private enterprise involvement [5][6] - Central enterprises, such as China State Construction International, are strategically entering the ordinary residential market, focusing on high-end product lines that align with market demands [6] Policy Context - The auction results are contrasted with recent real estate policy optimizations in Nanjing, including the cancellation of purchase restrictions and the promotion of housing vouchers, aimed at boosting market confidence [7] - Despite these policy measures, the cautious sentiment among enterprises remains evident, as reflected in the lack of competitive bidding during the auction [7][8] Future Outlook - The auction indicates a potential shift in Nanjing's housing market towards "low-density improvement" projects, with products like low-rise apartments and fourth-generation residential designs likely to become mainstream [8] - The upcoming land auction scheduled for October 11 is anticipated to attract attention, particularly the He Xi Zhong Sheng NO.2025G72 plot, which has a floor area ratio of 1.35 and a starting price of 1.319 billion yuan [8]

Key Points - The top three stocks with net inflows from southbound funds are Yingfu Fund (02800) with 1.487 billion, Meituan-W (03690) with 1.413 billion, and Pop Mart (09992) with 1.208 billion [1] - The top three stocks with net outflows are Huahong Semiconductor (01347) with -1.173 billion, Tencent Holdings (00700) with -409 million, and Jingtai Holdings (02228) with -315 million [1] - In terms of net inflow ratio, Huaxia Heng ESG (03403) leads with 92.52%, followed by Shenzhen Expressway (00548) with 55.45%, and Kunlun Energy (00135) with 47.40% [1] - The stocks with the highest net outflow ratios include Yuehai Investment (00270) at -59.10%, China State Construction International (03311) at -54.66%, and Qingdao Port (06198) at -53.49% [1] Net Inflow Rankings - Yingfu Fund (02800) had a net inflow of 1.487 billion, representing a 7.88% increase in its closing price [2] - Meituan-W (03690) saw a net inflow of 1.413 billion, with a closing price increase of 0.29% [2] - Pop Mart (09992) experienced a net inflow of 1.208 billion, with a closing price increase of 4.62% [2] Net Outflow Rankings - Huahong Semiconductor (01347) had the largest net outflow of -1.173 billion, with a closing price increase of 8.62% [2] - Tencent Holdings (00700) faced a net outflow of -409 million, with a closing price decrease of 2.95% [2] - Jingtai Holdings (02228) had a net outflow of -315 million, with a closing price increase of 7.49% [2] Net Inflow Ratio Rankings - Huaxia Heng ESG (03403) had a net inflow ratio of 92.52%, with a closing price of 56.860 [3] - Shenzhen Expressway (00548) had a net inflow ratio of 55.45%, with a closing price of 7.230 [3] - Kunlun Energy (00135) had a net inflow ratio of 47.40%, with a closing price of 7.400 [3] Net Outflow Ratio Rankings - Yuehai Investment (00270) had a net outflow ratio of -59.10%, with a closing price of 7.260 [3] - China State Construction International (03311) had a net outflow ratio of -54.66%, with a closing price of 9.900 [3] - Qingdao Port (06198) had a net outflow ratio of -53.49%, with a closing price of 7.290 [3]

智通财经APP获悉，香港联交所最新资料显示，9月19日，独立非执行董事陈子政增持中国建筑国际 (03311)20万股，每股均价9.89港元，总金额为197.8万港元。增持后最新持股数目为20万股。 ...