Core Viewpoint - Longyuan Construction (600491) expects a net loss of 10 billion to 15 billion yuan for 2025, primarily due to pressure on construction operations and asset impairment [1][2] Financial Performance - The company forecasts a net profit loss attributable to shareholders of 10 billion to 15 billion yuan for 2025, with a non-recurring net profit loss of 14 billion to 19 billion yuan, driven by declining revenue, insufficient new orders, and asset impairment [2] - The official financial data will be confirmed in the 2025 annual report, expected to be released in 2026, which will clarify the financial status after three consecutive years of losses [2] Operational Status - In Q4 2025, the company secured 17 new projects totaling 4.1 billion yuan, all under single construction contracts, with no PPP projects involved [3] - Future disclosures regarding new projects in 2026, particularly in housing construction and infrastructure, will be closely monitored, especially the order conversion efficiency [3] Stock and Capital Performance - Recent market data indicates significant volatility in Longyuan Construction's stock price and capital flow, with a net outflow of 291.91 thousand yuan on February 4, 2026, while the stock has risen by 24.62% year-to-date [4] - Short-term fluctuations are heavily influenced by market sentiment and sector rotation, with future attention needed on overall A-share sentiment and policy expectations in the construction and decoration sector [4] Industry Policy and Environment - The construction industry is shifting towards green and intelligent development, with new urbanization and green building initiatives potentially offering long-term opportunities [5] - Longyuan Construction's involvement in prefabricated buildings and water conservancy projects may benefit from accelerated industry policy implementation, but this needs to be assessed alongside actual orders and cash flow [5] Company Structure and Governance - The shares held by controlling shareholder Lai Chaohui have been judicially marked and frozen, affecting 100% of his holdings, which may impact the company's equity stability [6] - Future developments regarding governance risks and potential involvement of state-owned shareholders, such as Hangzhou Transportation Investment, will be important to monitor [6]

Group 1 - The housing construction sector increased by 2.57% on February 4, with Longyuan Construction leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] - Major stocks in the housing construction sector showed varied performance, with China State Construction and Longyuan Construction seeing significant increases in their closing prices [1] Group 2 - The net inflow of main funds in the housing construction sector was 226 million yuan, while retail funds saw a net inflow of 31.6 million yuan [1] - The table of fund flows indicates that China State Construction had a net inflow of 400 million yuan from main funds, while retail funds experienced a net outflow [2] - Longyuan Construction had a net inflow of approximately 11.18 million yuan from main funds, with retail funds showing a net outflow [2]

Group 1 - The housing construction sector increased by 1.44% on February 3, with Shanghai Construction leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] - Major stocks in the housing construction sector showed varied performance, with Shanghai Construction rising by 6.71% to a closing price of 3.02 [1] Group 2 - The net inflow of main funds in the housing construction sector was 314 million yuan, while retail investors experienced a net outflow of 166 million yuan [1] - Shanghai Construction had a significant net inflow of 271 million yuan, accounting for 13.60% of its trading volume [2] - China State Construction saw a net inflow of 78.05 million yuan, representing 6.09% of its trading volume [2]

2025年第四季度公司新承接业务量4.10亿元。2025年1-12月公司新承接业务量17.07亿元。公司重视经营 工作，积极开拓市场，坚持理性、规范、稳健发展。 2025年第四季度主要经营数据的公告 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个别及连带责任。 根据上海证券交易所2022年1月7日发布的《上海证券交易所上市公司自律监管指引第3号一行业信息披 露》第八号-建筑中第十九条的规定，上市公司应当每季度按不同业务类型披露主要经营数据，现将龙 元建设集团股份有限公司（以下简称"公司"）2025年第四季度主要经营数据公告如下： 单位：万元 币种：人民币 ■ 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600491 证券简称：龙元建设 编号：临2026-003 龙元建设集团股份有限公司关于 特此公告。 龙元建设集团股份有限公司 董 事 会 2026年1月30日 ...

Core Viewpoint - The housing construction sector experienced a decline of 0.39% on January 30, with Shanghai Construction leading the losses. The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1]. Group 1: Market Performance - The housing construction sector's individual stock performance showed varied results, with Longyuan Construction increasing by 3.25% to a closing price of 3.18, while Shanghai Construction fell by 3.56% to 2.98 [1]. - The total trading volume for Longyuan Construction was 639,100 shares, with a transaction value of 204 million yuan, while China State Construction had a trading volume of 5,351,900 shares and a transaction value of 2.714 billion yuan [1]. Group 2: Capital Flow - The housing construction sector saw a net outflow of 426 million yuan from main funds, while retail investors contributed a net inflow of 484 million yuan [1]. - Among individual stocks, Longyuan Construction had a net inflow of 33.88 million yuan from main funds, while Shanghai Construction experienced a net outflow of 1.23 million yuan [2].

2025 年第四季度经营数据公告 证券代码：600491 证券简称：龙元建设 编号：临 2026-003 单位：万元 币种：人民币 | | | 业务模式 | | 单一施工合同模式 | 融资合同模式（PPP） | 总计 | | --- | --- | --- | --- | --- | --- | --- | | 2025 | 年 | 10-12 | 月累计项目数（个） | 17 | - | 17 | | 2025 | 年 | 10-12 | 月累计项目总金额 | 41,046.81 | - | 41,046.81 | | 2025 | 年 | 1-12 | 月累计项目数（个） | 59 | - | 59 | | 2025 | 年 | 1-12 | 月累计项目总金额 | 170,725.24 | - | 170,725.24 | 2025 年第四季度公司新承接业务量 4.10 亿元。2025 年 1-12 月公司新承接 业务量 17.07 亿元。公司重视经营工作，积极开拓市场，坚持理性、规范、稳健 发展。 特此公告。 1 2025 年第四季度经营数据公告 龙元建设集团股份有限公司关于 2025 年第四季度主要经 ...

Core Viewpoint - The housing construction sector experienced a 0.94% increase on January 29, with Longyuan Construction leading the gains, while the overall market showed mixed results with the Shanghai Composite Index rising by 0.16% and the Shenzhen Component Index falling by 0.3% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4157.98, up 0.16% [1] - The Shenzhen Component Index closed at 14300.08, down 0.3% [1] - Longyuan Construction saw a closing price of 3.08, with a gain of 5.48% [1] Group 2: Individual Stock Performance - China State Construction closed at 5.04, up 1.61%, with a trading volume of 8.3036 million shares and a transaction value of 4.109 billion [1] - Zhejiang Construction Investment closed at 8.70, up 1.40%, with a trading volume of 160,700 shares and a transaction value of 2.66 million [1] - Chongqing Construction closed at 3.22, up 0.94%, with a trading volume of 184,800 shares and a transaction value of 5.93884 million [1] Group 3: Capital Flow - The housing construction sector saw a net outflow of 739 million from main funds, while retail investors contributed a net inflow of 264 million [1] - Longyuan Construction had a main fund net inflow of 36.1255 million, while retail investors had a net outflow of 14.3168 million [2] - China State Construction experienced a main fund net outflow of 373 million, but a net inflow of 454.49 million from retail investors [2]

Market Overview - The housing construction sector declined by 1.36% compared to the previous trading day, with Shanghai Construction leading the decline [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] Stock Performance - Notable stock performances in the housing construction sector included: - Gaoxin Development (000628) rose by 3.65% with a closing price of 52.52 and a trading volume of 149,700 shares, totaling 777 million yuan [1] - Longyuan Construction (600491) increased by 0.34% to 66.7, with a trading volume of 222,600 shares, amounting to 66.76 million yuan [1] - Chongqing Construction (600939) fell by 0.62% to 3.19, with a trading volume of 139,900 shares, totaling 44.30 million yuan [1] - China State Construction (601668) decreased by 1.38% to 5.02, with a trading volume of 3,020,300 shares, amounting to 1.526 billion yuan [1] Capital Flow - The housing construction sector experienced a net outflow of 179 million yuan from institutional investors, while retail investors saw a net inflow of 18.27 million yuan [1] - Detailed capital flow for selected stocks showed: - Gaoxin Development had a net inflow of 84.11 million yuan from institutional investors, but a net outflow of 61.29 million yuan from retail investors [2] - Longyuan Construction saw a net inflow of 8.56 million yuan from institutional investors, with a net outflow of 4.07 million yuan from retail investors [2] - China State Construction experienced a net outflow of 141 million yuan from institutional investors, while retail investors had a net outflow of 26.73 million yuan [2]

Core Viewpoint - The housing construction sector experienced a decline of 0.39% on January 23, with high-profile companies like Gaoxin Development leading the losses, while the overall stock market showed positive movement with the Shanghai Composite Index rising by 0.33% and the Shenzhen Component Index increasing by 0.79% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4136.16, up 0.33% [1] - The Shenzhen Component Index closed at 14439.66, up 0.79% [1] - The housing construction sector saw a net outflow of 70.35 million yuan from main funds, while retail investors experienced a net outflow of 12.15 million yuan [1] Group 2: Individual Stock Performance - Chongqing Construction (600939) closed at 3.26, up 1.24% with a trading volume of 181,000 shares and a transaction value of 58.51 million yuan [1] - Longyuan Construction (600491) closed at 3.06, up 0.99% with a trading volume of 174,000 shares and a transaction value of 52.81 million yuan [1] - Gaoxin Development (000628) closed at 50.80, down 1.95% with a trading volume of 108,800 shares and a transaction value of 552 million yuan [1] Group 3: Fund Flow Analysis - China State Construction (601668) had a main fund net inflow of 29.77 million yuan, while retail investors had a net outflow of 101 million yuan [2] - Ningbo Construction (601789) saw a main fund net inflow of 9.53 million yuan, with retail investors experiencing a net outflow of 6.97 million yuan [2] - Shanghai Construction (600170) faced a significant main fund net outflow of 84.54 million yuan, while retail investors had a net inflow of 72.03 million yuan [2]

Core Viewpoint - The housing construction sector experienced a 0.52% increase on January 22, with significant contributions from leading companies like Gaoxin Development [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] - The housing construction sector saw a net inflow of 216 million yuan from main funds, while retail investors experienced a net outflow of 164 million yuan [1] Group 2: Individual Stock Performance - Gaoxin Development led the sector with a closing price of 51.81, reflecting a 4.71% increase and a trading volume of 154,400 shares, amounting to 791 million yuan [1] - China State Construction reported a closing price of 5.08 with no change, trading 2,192,700 shares worth 1.117 billion yuan [1] - Shanghai Construction had a closing price of 3.00, up 2.39%, with a trading volume of 3,959,700 shares, totaling 1.175 billion yuan [1] Group 3: Fund Flow Analysis - China State Construction had a main fund net inflow of 130 million yuan, accounting for 11.65% of its trading volume, while retail investors had a net outflow of 97 million yuan [2] - Gaoxin Development saw a main fund net inflow of 50.64 million yuan, representing 6.40% of its trading volume, with retail investors experiencing a net outflow of 37.26 million yuan [2] - Zhejiang Construction reported a net outflow of 8.69 million yuan from retail investors, despite a small net inflow from main funds [2]