| 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2025-046 | | --- | --- | --- | --- | --- | | 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 关于发行民生通惠-上海建工建安 1 号资产支持计划的结果公告 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。 上海建工集团股份有限公司（简称"上海建工"或"公司"）2023 年年度股 东大会审议通过了《上海建工集团股份有限公司关于发行债务融资工具授权的议 案》，授权公司发行境内外债务融资工具合计不超过 150 亿元。 根据公司股东大会授权，公司全资子公司上海振新物业管理有限公司（简称 "振新物业"）计划发行总额不超过人民币 17.81 亿元资产支 ...

| 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2025-044 | | --- | --- | --- | --- | --- | | 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 | | 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7月24 日完成2025年面向专业投资者非公开发行公司债券（第二期）（简称"本期债券"） 发行工作。 上海建工集团股份有限公司 本期债券分为两个品种，其中品种一（债券简称：25沪投03，代码：259291.SH） 期限5年，实际发行金额7亿元，票面利率为2.15%；品种二（债券简称：25沪投 04，代码：259292.SH）期限7年，实际发 ...

[Key Financial Data and Indicators](index=1&type=section&id=Item%201.%20Key%20Financial%20Data%20and%20Indicators%20for%202025%20Semi-Annual%20Period) The company experienced significant performance pressure in H1 2025, with total operating revenue and net profit attributable to shareholders declining, and core business profitability severely weakened Key Financial Data and Indicators (RMB) | Indicator | Current Period (2025H1) | Prior Period (2024H1) | Change (%) | | :--- | :--- | :--- | :--- | | **Total Operating Revenue (RMB Billion)** | 105.042 | 145.977 | -28.04% | | **Operating Profit (RMB Billion)** | 1.085 | 1.452 | -25.28% | | **Total Profit (RMB Billion)** | 1.088 | 1.412 | -22.95% | | **Net Profit Attributable to Shareholders (RMB Million)** | 710 | 826 | -14.04% | | **Net Profit Attributable to Shareholders After Non-Recurring Items (RMB Million)** | 217 | 703 | -69.13% | | **Basic Earnings Per Share (RMB)** | 0.05 | 0.06 | -16.67% | | **Weighted Average Return on Net Assets** | 1.39% | 1.82% | Decrease of 0.43 Percentage Points | | **Total Assets (RMB Billion)** | 356.594 | 386.871 | -7.83% | | **Shareholders' Equity Attributable to Listed Company (RMB Billion)** | 45.891 | 46.062 | -0.37% | [Explanation of Operating Performance and Financial Position](index=1&type=section&id=Item%202.%20Explanation%20of%20Operating%20Performance%20and%20Financial%20Position) The company actively responded to market changes, narrowing Q2 economic declines and achieving positive profitability, despite overall core earnings being severely impacted by industry demand shifts and underperforming real estate and investment sectors [Key Operating Performance During the Reporting Period](index=2&type=section&id=Item%202.%20(I)%20Key%20Operating%20Performance%20During%20the%20Reporting%20Period) In H1 2025, the company achieved RMB 105.042 billion in operating revenue and RMB 710 million in net profit, with all five major business segments securing new contract orders despite overall performance decline New Contract Value by Business Segment (2025 H1, RMB Billion) | Business Segment | 2025 H1 New Contract Value (RMB Billion) | | :--- | :--- | | Construction Business Segment | 97.958 | | Design Consulting Business Segment | 7.326 | | Building Materials Industry Business Segment | 13.369 | | Real Estate Development Business Segment | 6.959 | | Urban Construction Investment Business Segment | 1.270 | - The company achieved **RMB 105.042 billion** in operating revenue and **RMB 710 million** in net profit attributable to shareholders, with Q2 economic indicators showing a narrowed decline and positive profitability[7](index=7&type=chunk) [Explanation of Key Financial Data Changes](index=2&type=section&id=Item%202.%20(II)%20Explanation%20of%20Key%20Financial%20Data%20Changes) The company's net profit after deducting non-recurring items sharply declined by 69.13% due to reduced revenue and gross profit from industry demand shifts, coupled with underperforming real estate and investment businesses - Net profit attributable to shareholders after deducting non-recurring items significantly decreased by **69.13%**, primarily due to changes in industry demand leading to decreased revenue and gross profit, and underperforming real estate and investment businesses[10](index=10&type=chunk) [Risk Warning](index=2&type=section&id=Item%203.%20Risk%20Warning) The company warns that the financial data in this express report are preliminary and unaudited, subject to change in the final 2025 semi-annual report, advising investors of potential discrepancies - The financial data in this announcement are preliminary and unaudited, potentially differing from the final semi-annual report data[3](index=3&type=chunk)[8](index=8&type=chunk)

Core Viewpoint - Shanghai Construction Group (600170) reported a significant decline in revenue and net profit for the first half of 2025, indicating challenges in the construction industry [1] Financial Performance - Total operating revenue for the first half of 2025 reached 105.04 billion yuan, a year-on-year decrease of 28.04% [1] - Net profit stood at 710 million yuan, reflecting a year-on-year decline of 14.04% [1] - The second quarter showed a narrowing of economic indicators, achieving a positive turnaround in profitability [1] Contractual Performance - The construction business segment secured new contracts worth 97.96 billion yuan [1] - The design consulting segment achieved new contracts totaling 7.33 billion yuan [1] - The building materials segment completed new contracts amounting to 13.37 billion yuan [1] - The real estate development segment signed new contracts worth 6.96 billion yuan [1] - The urban construction investment segment secured new contracts totaling 1.27 billion yuan [1]

| 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2025-043 | | --- | --- | --- | --- | --- | | 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 关于公司高级管理人员离任的公告 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。 截至本公告日，唐雄威先生不存在应当履行而未履行的承诺事项。唐雄威先 生按照公司相关规定做好交接工作，其离任不会对公司正常生产经营产生影响。 公司对唐雄威先生在担任公司副总裁期间做出的贡献和努力表示衷心的感 谢！ 特此公告。 上海建工集团股份有限公司董事会 2025 年 7 月 25 日 上海建工集团股份有限公司（简称"公司"）董事会收到公司副总裁唐雄威 先生的书面辞职 ...

证券代码：600170 证券简称：上海建工 公告编号：2025-042 上海建工集团股份有限公司 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： ? 每股分配比例 A 股每股现金红利0.06元 ? 相关日期 | 股份类别 | 股权登记日 | | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | --- | | Ａ股 | 2025/7/30 | － | 2025/7/31 | 2025/7/31 | | ? 差异化分红送转： 否 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 6 月 27 日的2024年年度股东会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 | 股份类别 | 股权登记日 | | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- ...

证券代码：600170 证券简称：上海建工 公告编号：2025-042 上海建工集团股份有限公司 2024年年度权益分派实施公告 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： 差异化分红送转： 否 每股分配比例 A 股每股现金红利0.06元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/7/30 | － | 2025/7/31 | 2025/7/31 | 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 6 月 27 日的2024年年度股东会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本8,885,939,744股为基数，每股派发现金红利 0.06元（含税），共计派发现金 ...

Group 1 - The CSI 500 Construction Decoration Index reported a value of 3221.69 points, showing a strong upward trend [1] - The CSI 500 Construction Decoration Index has increased by 10.42% in the past month, 6.28% over the last three months, and 4.22% year-to-date [2] - The index is designed to reflect the overall performance of different industry companies within the CSI 500 index, categorized into 11 primary industries, 35 secondary industries, and over 90 tertiary industries [2] Group 2 - The CSI 500 Construction Decoration Index is composed entirely of companies from the industrial sector, with a 100% weight in this category [3] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [3] - Temporary adjustments to the index samples may occur due to special events affecting the companies, such as mergers or changes in industry classification [3]

Investment Rating - Industry Rating: Outperform the market (maintained rating) [5] Core Viewpoints - The construction index rose by 0.32% this week, while the Shanghai and Shenzhen 300 index increased by 1.07%, indicating that the construction sector underperformed the market by 0.75 percentage points. Professional engineering, architectural design, and infrastructure sectors showed stronger gains [1][33] - Infrastructure investment continued to support the economy, with energy-related and water conservancy investments maintaining strength, while transportation infrastructure showed signs of recovery. For the first half of 2025, real estate development investment, narrow infrastructure, broad infrastructure, and manufacturing grew by -11.2%, +4.6%, +8.9%, and +7.5% year-on-year, respectively [1][13] - Recent disclosures of second-quarter orders from central state-owned enterprises (SOEs) indicate a recovery trend, with China Railway's second-quarter orders showing a year-on-year growth of 20.08%. The overall order situation for central SOEs is optimistic, suggesting a rebound in physical workload [2][27] Summary by Sections Macro and Micro Verification of Infrastructure Recovery - Infrastructure investment in June continued to provide support, with energy and water conservancy investments remaining strong, while transportation infrastructure showed signs of recovery. The year-on-year growth rates for real estate development investment, narrow infrastructure, broad infrastructure, and manufacturing from January to June 2025 were -11.2%, +4.6%, +8.9%, and +7.5%, respectively [1][13][14] Recent Order Disclosures from Central SOEs - Central SOEs such as China Railway, China Energy Construction, China Chemical, and China Nuclear Engineering reported a recovery in second-quarter orders. For instance, China Railway's first-half orders showed a year-on-year growth of 2.8%, with a significant increase in the second quarter [2][27][28] Valuation Perspective - As of July 18, the construction sector's PE (TTM) and PB (LF) ratios were among the lowest across all primary industries, indicating significant room for valuation improvement. The construction sector's PE (TTM) was 11.12 times, with a historical percentile of 48.50%, compared to the Shanghai and Shenzhen 300's PE of 13.39 times [3][30][32]

证券代码：600170 证券简称：上海建工 公告编号：2025-041 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 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。 子公司累计新签合同金额为人民币 1,302.45 亿元，详情如下： 合同金额（亿元） 项目数量（个） 同比变动 建筑施工 979.58 2,869 -43.50% 设计咨询 73.26 3,108 -34.02% 建材工业 133.69 - -9.89% 房产开发 69.59 - 69.32% 城市建设投资 12.70 - - 其他 33.63 - 6.56% 合计 1,302.45 - -36.96% 如下： 序号 工程名称 金额 （亿元） 虹口区北外滩 HK323-01、HK323-05、HK323-02（部分地下）项目施 工总承包（除桩基及基坑围护措施）工程 DK20230 ...