上海建工（600170）公告，公司境外全资子公司永达投资有限公司于2025年6月3日在香港联合交易所完 成了本期债券发行工作，实际发行总额为6亿美元，期限为3年，利率为4.60%，证券代码为5603。公司 为本项债券提供无条件的不可撤销的连带责任保证担保，相关担保事项纳入公司2025年度担保额度。 ...

Core Insights - The "Huayanli" stone gate building complex in Zhangyuan, Shanghai, is set to be repositioned this Saturday, marking a significant development in the ongoing renovation of the area [3] - The underground space development in Zhangyuan will commence after the repositioning of "Huayanli," which will include commercial, cultural, and parking facilities, as well as connections to multiple subway lines [3][4] Group 1 - Zhangyuan, known for its historical significance, is the largest and most well-preserved stone gate building complex in Shanghai, with over 140 years of history [4] - The repositioning of "Huayanli" involves the use of 432 small walking robots, allowing the buildings to move at an average speed of 10 meters per day since May 19 [3][5] - The construction challenges in Zhangyuan are notable due to the narrow alleys and the need to protect historical buildings while conducting renovations [4] Group 2 - The construction team plans to introduce over 10 types of construction robots to address the difficulties of large equipment operation in the city center during the underground development phase [4] - A mini pile driver has been developed to facilitate construction in tight spaces, allowing for the installation of engineering piles within the buildings [4] - Custom-built small excavation robots have been designed to navigate the narrow alleys, utilizing advanced technology for intelligent obstacle avoidance and path planning [5]

本期债券发行由上海建工提供全额无条件不可撤销的连带责任保证担保。 特此公告。 上海建工集团股份有限公司董事会 2025年5月30日 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。 经上海证券交易所《关于对上海建工集团投资有限公司非公开发行公司债券 挂牌转让无异议的函》（上证函〔2025〕1453号）确认，上海建工集团股份有限 公司（简称"上海建工"）下属子公司上海建工集团投资有限公司于2025年5月29 日完成2025年面向专业投资者非公开发行公司债券（第一期）（简称"本期债券"） 发行工作。 本期债券分为两个品种，其中品种一（债券简称：25沪投01，代码：258714.SH） 期限5年，实际发行金额7亿元，票面利率为2.35%；品种二（债券简称：25沪投 02，代码：258715.SH）期限7年，实际发行金额5亿元，票面利率为2.88%。 | 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2025-026 | | --- | --- | --- | --- | --- | | 债券代码：240782 ...

Core Viewpoint - The article highlights the emergence of a notable individual investor, Zhang Sufen, in the A-share market, who has made significant investments in multiple listed companies, positioning herself among the top shareholders of 15 companies as of the first quarter of 2025 [1][2][3]. Group 1: Investment Profile - Zhang Sufen holds substantial shares in various companies, with a total holding of 349.66 million shares across 15 listed companies, making her the second-largest shareholder in Electronic City and the fourth-largest in Shaanxi Guotou A [3][4]. - Her investment strategy appears to focus on low-priced stocks, with most of her holdings priced below 10 yuan, indicating a preference for undervalued assets [7][8]. - The total market value of her holdings exceeds 1.38 billion yuan, with five stocks valued over 100 million yuan each [8]. Group 2: Performance and Strategy - Zhang's investments have shown mixed results, with the highest floating profit being 26.81% from Liugang Co., while the largest loss is 13.62% from Shaanxi Construction [3][4]. - She has demonstrated a long-term investment approach, often increasing her holdings over several quarters, as seen in her continuous accumulation of shares in low-performing stocks like New Star Foundry [6][7]. - Despite her success, she has also faced significant losses, such as a 30% loss in Yibai Pharmaceutical, highlighting the risks associated with her investment choices [8][9]. Group 3: Market Impact and Perception - Zhang Sufen's investment activities have drawn attention in the market, with speculation about her potential connections to larger investment networks, suggesting that her strategies may not be typical of individual investors [7][8]. - Her approach to investing, characterized by a focus on low-priced stocks and a willingness to endure volatility, positions her as a unique figure in the A-share market, comparable to institutional investors [6][7].

Core Points - In 2024, Shanghai Construction Group achieved a revenue of 300.22 billion yuan, with a significant decline in real estate development revenue, which fell by 56.41% year-on-year to 3.632 billion yuan, accounting for only 1.21% of total revenue [2][4] - The company reported a net profit attributable to shareholders of 2.168 billion yuan, a year-on-year increase of 39.15%, but the net profit after deducting non-recurring gains and losses decreased by 44.47% to 613 million yuan [3][4] - The first quarter of 2024 saw a 46.06% year-on-year decline in revenue, with a net loss of 179 million yuan, attributed to a decrease in construction bidding volume and slower order execution [2][7] Revenue Breakdown - Total revenue for 2024 was 300.22 billion yuan, a slight decrease of 1.45% compared to the previous year [4] - The construction business generated 266.68 billion yuan, a growth of 0.65%, making up 89.12% of total revenue [4] - Real estate development revenue was only 3.632 billion yuan, significantly down from the previous year, with new signed contracts in this sector accounting for just 2.40% of total new contracts [4][5] Future Outlook - The company aims to sign new orders worth 400 billion yuan and achieve a revenue target of 260.2 billion yuan for 2025 [7] - The company plans to optimize its real estate development business and improve asset turnover to enhance performance [6][7] - Shanghai Construction Group is focusing on six emerging businesses, which completed nearly 100 billion yuan in new contracts in 2024, with the new infrastructure sector seeing a 67.9% increase [8][9]

| 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2025-025 | | --- | --- | --- | --- | --- | | 债券代码：240782 | 债券简称：24 | 沪建 | Y1 | | | 债券代码：240783 | 债券简称：24 | 沪建 | Y2 | | | 债券代码：241305 | 债券简称：24 | 沪建 | Y3 | | | 债券代码：241857 | 债券简称：24 | 沪建 | Y4 | | 2017 年，天津住宅建设发展集团有限公司（简称"天住集团"，公司持有其 51%股权）中标了"河北区新大路棚户区改造定向安置经济适用房回购项目"。项 目作为定向安置住房，由天住集团全资子公司天住嘉合立项并进行土地整理。政 府以行政划拨的方式，将整理完成后的土地划拨给天住嘉合，由其进行开发建设。 上海建工集团股份有限公司 二、土地位置 关于获得土地使用权的公告 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。 2025 年 5 月 21 日，上海建工集团股份有限公司（简称"上 ...

| 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2025-024 | | --- | --- | --- | --- | --- | | 债券代码：240782 | 债券简称：24 | 沪建 | Y1 | | | 债券代码：240783 | 债券简称：24 | 沪建 | Y2 | | | 债券代码：241305 | 债券简称：24 | 沪建 | Y3 | | | 债券代码：241857 | 债券简称：24 | 沪建 | Y4 | | 上海建工集团股份有限公司 关于提供担保的进展公告 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： （一）2025 年 4 月，因申请各类贷款、银行承兑汇票、预付款保函、履约保 函和农民工工资保函等，上海建工集团股份有限公司（以下简称"公司"）为资产 负债率高于 70%的 17 家子公司提供 22.02 亿元担保，为资产负债率低于 70%的 2 家子公司提供 0.03 亿元担保，合计提供 22.05 亿元担保。详情如下： | 担保人 | 被担保人 | 担保金 ...

Core Viewpoint - The company plans to hold an investor briefing on May 16, 2025, to discuss its 2024 annual report and Q1 2025 results, allowing for interactive communication with investors [2][4]. Group 1: Meeting Details - The investor briefing is scheduled for May 16, 2025, from 10:00 AM to 11:00 AM [2][4]. - The meeting will be conducted via the Shanghai Stock Exchange Roadshow Center, accessible online [2][4]. - Investors can submit questions from May 9 to May 15, 2025, through the Roadshow Center or via the company's email [3][5]. Group 2: Participants - Key participants in the meeting will include the Chairman, independent directors, and the financial officer [4]. Group 3: Contact Information - For inquiries, investors can contact the company via phone at 021-35318170 or email at ir@scg.com.cn [5]. Group 4: Post-Meeting Access - After the briefing, investors can access the meeting's main content and outcomes through the Shanghai Stock Exchange Roadshow Center [5].

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。 重要提示： | 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2025-023 | | --- | --- | --- | --- | --- | | 债券代码：240782 | 债券简称：24 | 沪建 | Y1 | | | 债券代码：240783 | 债券简称：24 | 沪建 | Y2 | | | 债券代码：241305 | 债券简称：24 | 沪建 | Y3 | | | 债券代码：241857 | 债券简称：24 | 沪建 | Y4 | | 上海建工集团股份有限公司 关于召开 2024 年度暨 2025 年第一季度业绩说明会的公告 会议召开时间：2025 年 5 月 16 日(星期五) 上午 10:00-11:00 会议网络平台：上海证券交易所上证路演中心（网址：http://roadsho w.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 5 月 9 日（星期五） 至 5 月 15 日（星期四）16:00 ...

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company experienced significant growth in Q4, with a 39% year-on-year increase in net profit attributable to shareholders, driven by non-operating income [1][2] - The company is focusing on developing six emerging business sectors to create a second growth curve, with new contracts in these sectors reaching nearly 100 billion yuan in 2024 [3] Financial Performance Summary - In 2024, the company achieved operating revenue of 300.2 billion yuan, a decrease of 1.4% year-on-year, while net profit attributable to shareholders was 2.168 billion yuan, an increase of 39% [1][4] - The comprehensive gross margin for 2024 was 8.74%, down 0.13 percentage points, primarily due to a decline in the gross margin of the construction business [2] - The company reported a significant increase in asset disposal income, which contributed to a net profit margin increase to 0.7%, up 0.21 percentage points year-on-year [2] Business Segment Performance - The construction segment generated revenue of 266.7 billion yuan, a year-on-year increase of 0.65%, with various sub-segments showing mixed performance [1] - Emerging business sectors, including urban renewal and new infrastructure, showed strong growth, with contract values increasing by 9%, 18%, and 68% respectively [3] Future Projections - The company is projected to achieve net profits of 1.83 billion yuan in 2025, a decrease of 16% year-on-year, followed by growth in subsequent years [3][4] - The expected earnings per share (EPS) for 2025 is 0.21 yuan, with corresponding price-to-earnings (P/E) ratios of 12, 11, and 10 for the years 2025, 2026, and 2027 respectively [3][4]