Core Viewpoint - Sichuan Highway and Bridge Construction Group Co., Ltd. was fined 600,000 yuan due to safety production responsibility violations leading to a fatal accident at a construction site [1] Group 1: Incident Details - The incident occurred on July 15, 2025, at 16:10, involving a mechanical injury at the G330 Tongling section road reconstruction project [1] - The accident resulted in one fatality, attributed to the company's failure to implement safety production responsibilities [1] Group 2: Company Background - Sichuan Highway and Bridge Construction Group Co., Ltd. was established in April 16, 1998, and is a significant state-owned enterprise in Sichuan Province [2][4] - The company originated from the 18th Army Road Engineering Team and the Southwest Highway Bureau Bridge Construction Office [2] - It became the first listed company in the Sichuan transportation system in 2003 and achieved overall listing in 2012 [2] Group 3: Regulatory Information - The company is registered with a capital of 600 million yuan and is currently in operation [5] - The legal representative is Zhang Hangchuan, and the company is supervised by the Chengdu High-tech Zone Market Supervision Administration [5]

近期（0929-1010）建筑指数上涨 4.6%，沪深 300 板块上涨 1.67%，建筑板 块跑赢大盘 2.94pct。本周西部基建、核电、并购重组板块涨幅靠前。近期 两部门发布《关于治理价格无序竞争 维护良好市场价格秩序的公告》，重 视反内卷投资主线。当前时点，我们认为四季度基建稳增长值得期待，建 议关注新疆、西藏等中西部基建景气向上，同时重视反内卷主线和重点产 业投资（水电站、煤化工、核电等）带来的产业链相关机会，同时关注并 购重组及中小市值建筑转型品种。 四季度基建刺激预期提升，专项债、特别国债发行提速 行业报告 | 行业研究周报 建筑装饰 证券研究报告 Q4 基建稳增长预期提升，重视反内卷投资主线以及高景气产业投资 核心观点 25 年 7-8 月中国经济数据较上半年有所放缓，固定资产投资、基建和房地 产 8 月持续下降，四季度经济增长压力变大，稳增长政策可能出台。从资 金端来看，专项债、特别国债仍保持较快发行节奏，1）专项债，根据 Wind 统计，25M1-9 累计新增专项债 3.68 万亿，占全年安排的 4.4 万亿元总额度 的 83.6%，发行进度逐季加快；2）超长期特别国债整体发行进度明显快于 ...

Core Viewpoint - Sichuan Road and Bridge announced that as of September 30, 2025, the company has repurchased a total of 2,028,900 shares through centralized bidding, representing 0.0233% of the company's total share capital [2] Summary by Category - **Share Repurchase Details** - The company has repurchased 2,028,900 shares [2] - This repurchase accounts for 0.0233% of the total share capital [2] - The repurchase was conducted through centralized bidding [2]

每经AI快讯，四川路桥（SH 600039，收盘价：8.06元）10月10日晚间发布公告称，截至2025年9月30 日，公司通过集中竞价交易方式已累计回购股份约203万股，占公司总股本的比例为0.0233%，回购的 最高成交价为8.79元/股，最低成交价为8.62元/股，支付的总金额为人民币约1766万元。 2024年1至12月份，四川路桥的营业收入构成为：物流贸易占比6.25%，矿业及新材料占比3.12%，高速 公路投资运营占比2.69%，其他业务占比0.6%，清洁能源占比0.57%。 截至发稿，四川路桥市值为701亿元。 每经头条（nbdtoutiao）——天水麻辣烫、淄博烧烤、荣昌卤鹅⋯⋯"泼天流量"退去后，这些城市怎么 样了？ （记者 曾健辉） ...

关于以集中竞价交易方式回购股份进展的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2025/4/30 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 2025 4 4 | 30 | 日~2026 | 年 | 月 | 日 29 | | 预计回购金额 | 10,000万元~20,000万元 | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 √用于转换公司可转债 | | | | | | | | □为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 2,028,900股 | | | | | | | 累计已回购股数占总股本比例 | 0.0233% | | | | | | | 累计已回购金额 | 17,659,481.67元 | | | | | | | 实际回购价格区间 | 8.62元/股~8.79元/股 | | | | | | 一 ...

格隆汇10月10日丨四川路桥(600039.SH)公布，截至2025年9月30日，公司通过集中竞价交易方式已累计回购股份202.89万股，占公司总股本的比例为0.0233%，回购的最高成交价为8.79 ...

风险提示：四川基建投资进度不及预期、大股东支持力度减弱、市场竞争加剧等。 Q2 新签订单继续提速。2025 年H1，公司新签订单金额达722.40 亿元，同比增长22.20%，其中Q1、Q2 新签订单同比增速分别为18.87%、25.44%。 分领域看，基建板块表现亮眼，上半年新签金额为617.40 亿元，同比增长25.88%，其中Q1、Q2 同比增 速分别为27.95%、23.93%。 盈利预测与投资评级：预计25-27 年公司实现营业收入分别为1092.95、1178.40、1237.32 亿元，分别同 比+2%、+8%、+5%，实现归母净利润分别为79.58、84.10、89.14 亿元，分别同比+10%、+6%、+6%， 当前股价对应25-27 年PE 分别为9/9/8X，四川基建景气度高，公司作为交通基建主力军，有望受益，同 时股息率较高，首次覆盖，给予"强烈推荐"评级。 公司公布25 年中报，报告期内实现收入、归母净利润、扣非归母净利润分别为435.36、27.80、27.20 亿 元，分别同比-4.91%、-13.00%、-13.72%。 四川战略定位升级，基建景气高于全国。2024 年，国务院 ...

方正证券给予四川路桥建设集团股份有限公司强力买进的初始评级。 ...

Group 1 - The transaction involves a significant asset sale, issuance of shares, and cash payment for asset acquisition, along with fundraising, all of which are interdependent and form an integral part of a major asset restructuring [2][3][4] - The company plans to sell 100% equity of Sichuan Development Maglev Technology Co., Ltd. and related assets to Sichuan Shudao Rail Transit Group Co., Ltd., and 100% equity of Chengdu Xinzhu Transportation Technology Co., Ltd. to Sichuan Road and Bridge Construction Group Co., Ltd. [3] - The company intends to issue shares and pay cash to acquire 60% equity of Sichuan Shudao Clean Energy Group Co., Ltd., which will become a controlling subsidiary post-transaction [4] Group 2 - The company aims to raise matching funds by issuing shares to no more than 35 qualified investors, with the total amount not exceeding 100% of the transaction price for the asset acquisition [5] - This transaction is expected to constitute a major asset restructuring and related party transaction but does not qualify as a restructuring listing [6] - The company has disclosed the history of this transaction, including stock suspension and resumption dates, and relevant announcements made on various dates [7][8] Group 3 - As of the announcement date, the audit and evaluation work related to the transaction is still ongoing, and the company will convene a board meeting to review the transaction once these tasks are completed [9]

Group 1 - The construction of the Chengyu High-speed Railway's key control project, the largest span and highest safety risk section, has successfully completed the final concrete pouring, marking the completion of all nine continuous beams in this segment [1][3] - The main span of the bridge over the Chuyong Expressway is 128 meters, consisting of a total of 64 cantilever pouring segments, utilizing a fully enclosed bridge construction machine for the cantilever pouring [7] - The project is part of the national "eight vertical and eight horizontal" high-speed rail network and will significantly reduce travel time between Chengdu and Chongqing, injecting new transportation momentum into the Chengdu-Chongqing economic circle [9] Group 2 - The construction will transition from "local breakthroughs" to a new phase of "overall completion," with a focus on quality and safety while accelerating project progress [7] - Innovative technologies such as fully enclosed bridge construction machines, intelligent synchronous control systems, and BIM technology have been introduced to enhance construction efficiency and quality control [7] - The Chengyu High-speed Railway has a total length of 292 kilometers and is designed for a speed of 350 kilometers per hour, with expectations for early operation [9]