Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company, Pudong Construction, is a state-owned enterprise in the Pudong New Area, focusing on municipal construction and infrastructure development. It has a strong commitment to shareholder returns, with a dividend payout ratio expected to increase to 43.66% in 2024, reflecting its robust financial health and investment attractiveness [6][9] - The company has a diversified business model that includes design, construction, and investment, with a focus on integrated infrastructure services. It aims to enhance profit elasticity through mature park operations and stable rental income from projects like Deloitte Park and TOP Chip Link [6][9][39] - The company is expected to face short-term operational pressure due to a decline in new construction orders, but it maintains a strong market position in Shanghai, with significant order concentration in the Pudong area [6][32] Summary by Sections Financial Performance - The company's revenue is projected to reach RMB 18,859 million in 2024, with a year-on-year growth rate of 6.39%. However, a decline of 19.47% is expected in 2025, followed by modest growth in subsequent years [5][44] - The net profit attributable to shareholders is forecasted to be RMB 593 million in 2024, with a slight increase to RMB 369 million by 2027, indicating a stable yet cautious growth outlook [5][46] Business Segments - The construction segment remains the core business, contributing significantly to revenue. The company anticipates a revenue decline of 20% in this segment for 2025, with a gradual recovery thereafter [8][44] - The design and consulting segment is expected to face challenges, with revenue growth projected at -20% for 2025, while the park development segment is seen as a future growth driver [8][44] Market Environment - Shanghai's fiscal strength is robust, with a comprehensive financial capacity of RMB 14,027.9 billion in 2024, ranking sixth nationally. This financial stability supports ongoing infrastructure investments and project execution [27][30] - The company has a strong order backlog, with new construction orders expected to total approximately RMB 137.69 billion in 2025, despite a year-on-year decline of 22.72% [32] Strategic Initiatives - The company is actively pursuing a strategy to become a "technology-driven full-industry chain infrastructure investment and construction operator," focusing on integrated services across design, construction, and park operations [36][38] - Projects like Deloitte Park and TOP Chip Link are central to the company's strategy, aiming to create high-value park development and operational models that enhance profitability [39][40]

Group 1: Major Announcements - Unisplendour plans to raise no more than 5.57 billion yuan through a private placement to acquire a 6.98% stake in New H3C and for other projects [2] - Zhongwei Semiconductor intends to establish an IPM production line project in Ziyang, Sichuan, using 1.21 billion yuan of leftover IPO funds [2] - Kaiying Network has signed a settlement agreement with Legend IP, which is expected to positively impact the company's profit by approximately 200 million yuan [2] Group 2: Project Developments - Blue Ocean Huaten plans to invest 8 million yuan in Wanren Technology to support its daily operations and AI project development [4] - Yuedian Power A has successfully put into operation the expansion project of the Huizhou Power Plant, which includes two 1000MW units [7] - Longmag Technology intends to raise up to 760 million yuan for its second phase project in Vietnam and chip inductor manufacturing [8] Group 3: Financial Performance - Top Group expects a net profit of 2.6 billion to 2.9 billion yuan for 2025, a decrease of 3.35% to 13.35% year-on-year due to rising raw material costs and increased market competition [20] - Jingchen Technology reported a net profit of 871 million yuan for 2025, a 6% increase year-on-year, with record high sales of over 174 million chips [21] - Guodian Xintong's net profit for 2025 is projected at 678 million yuan, a decline of 16.91% year-on-year, primarily due to increased credit impairment losses and tax expenses [22] Group 4: Shareholder Actions - Jieshun Technology's actual controller plans to reduce holdings by up to 2.8% of the company's shares [27] - Lihexing's controlling shareholder and concerted actors plan to collectively reduce their holdings by up to 1% [27] - Kory Technology's shareholders plan to reduce their holdings by a total of up to 3.13% [29] Group 5: Stock Buybacks - Quzhou Dongfeng plans to repurchase shares worth between 50 million and 100 million yuan, with a maximum price of 6.48 yuan per share [30]

Group 1 - Unisplendour plans to raise no more than 5.57 billion yuan through a private placement to acquire a 6.98% stake in H3C and for other projects [1] - Dawi Technology's Zhangbei data center project will not involve computing power leasing and is expected to have minimal revenue contribution in 2025 [2] - Kaixin Network's subsidiary signed a settlement agreement with Legend IP, which is expected to positively impact the company's profit by approximately 200 million yuan [3] Group 2 - Newray plans to acquire a 70% stake in PCB tool company Huilian Electronics for no more than 700 million yuan, enhancing its market position [4] - Shangwei New Materials' embodied intelligent robot business is still in the product development stage and has not yet generated revenue [5] - Lanshi Heavy Industry's deputy general manager is under investigation for suspected violations, but the company's operations remain unaffected [6] Group 3 - Tianji Technology is under investigation by the China Securities Regulatory Commission for suspected information disclosure violations, but its operations are normal [8] - Top Group expects a net profit decline of 3% to 13% in 2025, despite revenue growth of 8.08% to 14.10% [9] - Shoulu Hotel's subsidiary plans to invest 281 million yuan in a new hotel property project, expected to enhance its business scale and profitability [10] Group 4 - Pingzhi Information plans to raise no more than 1 billion yuan for the construction of a domestic intelligent computing center [11] - Dongfang Guoxin's Inner Mongolia intelligent computing center project has been partially completed, contributing a small revenue share [12] - Zhongwei Semiconductor intends to allocate 1 billion yuan of surplus fundraising for a new investment project [13] Group 5 - Guolin Technology plans to issue up to 16.5 million shares, which will increase its total share capital to 201 million shares [14] - Dabeinong reported a 22.71% year-on-year increase in pig sales in January [15] - Qiu Tai Technology sold 41.48 million mobile camera modules in January, a 19.5% year-on-year increase [19]

Group 1 - Unisplendour Corporation has decided to terminate its plan to issue H-shares and list on the Hong Kong Stock Exchange due to strategic development considerations [2] - Yuandong Biotech is participating in a follow-up procurement for 13 products, with expected sales revenue of approximately 651 million yuan in 2024, accounting for 48.25% of total revenue [3] - Blue Lithium has terminated its participation in the GreenMei Indonesia project due to strategic adjustments by GreenMei, with no significant impact on its operations [4] Group 2 - Jinhaitong plans to invest up to 400 million yuan in the construction of a semiconductor equipment manufacturing center in Shanghai, covering an area of 55,000 square meters [5] - Kaiying Network's subsidiary has signed a settlement agreement with Legend IP, which is expected to positively impact profits by approximately 200 million yuan [6] - Newray plans to acquire 70% of PCB tool company Huilian Electronics for no more than 700 million yuan, enhancing its market position in the PCB tool sector [7] Group 3 - Longbai Group intends to acquire a 5.46% stake in Yunnan Guotai for 234 million yuan [8] - Dawi Technology's Zhangbei data center project is set to be completed by October 2025, primarily providing customized standard data center environments [9] Group 4 - Guobang Electronics reported a net profit of 508 million yuan for 2025, a year-on-year increase of 4.72%, despite a revenue decline of 7.92% [11] - Daotong Technology achieved a net profit of 935 million yuan in 2025, reflecting a significant year-on-year growth of 45.89% [12] - Jingchen Co. reported a net profit of 871 million yuan for 2025, with a growth of 6% year-on-year [13] Group 5 - Qizhou Dongfeng plans to repurchase shares worth between 50 million and 100 million yuan to implement an employee stock ownership plan [17] - Keri Technology's shareholders plan to reduce their holdings by a total of up to 3.13% of the company's shares [19] Group 6 - Roman Co. signed a 260 million yuan contract for a wind power project, with the company’s share of the contract amounting to approximately 190 million yuan [21] - Zhongke Haixun is expected to win projects totaling approximately 288 million yuan [22] - Shan Jian Co. won four construction projects with a total value of 4.834 billion yuan [23]

Core Viewpoint - Pudong Construction (600284.SH) announced that its subsidiaries have won multiple significant projects with a total bid amount of 1.41 billion yuan [1] Group 1 - The subsidiaries involved include Shanghai Pudong New District Construction (Group) Co., Ltd., Shanghai Pudong Road and Bridge (Group) Co., Ltd., Shanghai Nanhui Construction (Group) Co., Ltd., and Shanghai Pudong Architectural Design and Research Institute Co., Ltd. [1]

Core Viewpoint - The company, Pudong Construction (600284.SH), announced that its subsidiaries have won multiple significant projects with a total bid amount of 1.41 billion yuan [1] Group 1 - The subsidiaries involved in the bidding include Shanghai Pudong New District Construction (Group) Co., Ltd., Shanghai Pudong Road and Bridge (Group) Co., Ltd., Shanghai Nanhui Construction (Group) Co., Ltd., and Shanghai Pudong Architectural Design and Research Institute Co., Ltd. [1]

证券代码：600284 证券简称：浦东建设 公告编号：临 2026-011 上海浦东建设股份有限公司 重大项目中标公告 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。 近日，上海浦东建设股份有限公司的子公司上海市浦东新区建设（集团）有 限公司、上海浦东路桥（集团）有限公司、上海南汇建工建设（集团）有限公司 和上海浦东建筑设计研究院有限公司中标多项重大项目，中标金额总计为人民币 141,045.04万元，具体情况如下： 1 金额单位：人民币万元 序号 中标单位 招标单位 项目名称 中标金额 1 上海市浦东新区建设 （集团）有限公司 上海长江高行置业有限 公司 高行镇 Y00-0701 单元 B3-3 地块高行文化中心（二期） 4,368.28 2 上海市浦东新区建设 （集团）有限公司 上海市浦东新区合庆镇 人民政府 合庆镇和美乡村二期建设 项目 10,118.29 3 上海市浦东新区建设 （集团）有限公司 上海华夏文化旅游区开 发有限公司 唐镇镇南社区 07A-01 地块 商品房项目精装修工程 5,490.25 4 上海市浦东新 ...

Core Viewpoint - Shanghai Pudong Construction Co., Ltd. has recently won multiple significant projects with a total bid amount of RMB 1.41 billion [1] Group 1 - The subsidiaries of Shanghai Pudong Construction Co., Ltd. that won the bids include Shanghai Pudong New Area Construction (Group) Co., Ltd., Shanghai Pudong Road and Bridge (Group) Co., Ltd., Shanghai Nanhui Construction (Group) Co., Ltd., and Shanghai Pudong Architectural Design and Research Institute Co., Ltd. [1]

Core Viewpoint - The company has secured multiple significant projects through its subsidiaries, totaling a contract value of RMB 1.41 billion [1] Group 1: Project Details - The projects won include the following: - Gao Xing Town Y00-0701 Unit B3-3 Block Gao Xing Cultural Center (Phase II) - Heqing Town He Mei Village Phase II Construction Project - Tang Town South Community 07A-01 Block Residential Project Fine Decoration Engineering [1]

上海浦东建设股份有限公司 Shanghai PudongConstructionCo.,Ltd. 2026 年第二次临时股东会 会议材料 $$\exists{\mathrm{~O~}}\exists{\mathrm{~H~}}\exists{\mathrm{~H~}}$$ 2026 年第二次临时股东会 目录 | 会议议程 | | 1 | | --- | --- | --- | | 关于补选董事的议案 | | 2 | | 2026 年第二次临时股东会有关规定 | | 3 | | 2026 | 年第二次临时股东会现场表决办法 | 5 | 2026 年第二次临时股东会 会议议程 现场会议时间：2026 年 3 月 4 日下午 2:45 网络投票时间：采用上海证券交易所网络投票系统，通过交易系统投票平台的投 票 时 间 为 股 东 会 召 开 当 日 的 交 易 时 间 段 ， 即 9:15-9:25 ， 9:30-11:30 ， 13:00-15:00；通过互联网投票平台的投票时间为股东会召开当日的 9:15-15:00 现场会议地点：上海市浦东新区成山路 718 弄 1 号 TOP 芯联 T1 座三楼路演厅 参加 ...