证券代码：600502 证券简称：安徽建工 编号：2024-072 安徽建工集团股份有限公司 关于公司及子公司涉及诉讼、仲裁的公告 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： 案件所处的诉讼阶段：3 起案件均在审理中。 上市公司所处的当事人地位：3 起均为原告（申请人）。 涉案的金额：合计 3.97 亿元 是否会对上市公司损益产生负面影响：暂无法确定对公司本期利润或期后 利润的影响金额。 为维护公司和股东利益，安徽建工集团股份有限公司（以下简称"公司"）及 所属子公司对欠付工程款的建设单位提起诉讼（仲裁），通过法律途径加大应收款 项催收力度，切实保障合法权益。截至本公告披露之日，公司及所属子公司新发生 金额较大诉讼（仲裁）3 起，涉案金额合计 3.97 亿元，相关情况公告如下： 一、近期金额较大诉讼（仲裁）案件情况 公司近期发生金额较大的诉讼（仲裁）案件 3 起，合计金额 3.97 亿元，基本情 况如下： | 序号 | 原告 | 被告 | 起诉/申请 | 案由 | 涉案金额 | 受理法院/仲裁委 | 进展情 ...

近日，本公司及所属子公司安徽水利开发有限公司、安徽建工三建集团有限公司、 安徽建工公路桥梁建设集团有限公司、安徽建工建设投资集团有限公司、安徽建工路港 建设集团有限公司、安徽建工交通航务集团有限公司、安徽建工建设安装集团有限公司、 安徽建工智能制造集团有限公司收到项目中标通知书。具体情况公告如下： 一、S11 巢黄高速公路合肥至无为（石涧）段项目特许经营者（二次） 中标人：安徽建工集团股份有限公司（牵头人）、中铁隧道局集团有限公司、安徽 水利开发有限公司、安徽建工三建集团有限公司、安徽建工公路桥梁建设集团有限公司、 安徽建工建设投资集团有限公司、安徽建工路港建设集团有限公司、安徽建工交通航务 集团有限公司、安徽建工建设安装集团有限公司、安徽建工智能制造集团有限公司联合 体 证券代码：6 00502 证 券 简 称 ：安 徽 建 工 编 号 ：2024-07 1 安徽建工集团股份有限公司 关于项目中标的公告 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。 收费期限：360 个月 二、铜陵至商城高速公路巢湖（沐集）至肥西（三河）段 ...

安徽建工集团股份有限公司 四、议程： 目 录 2024 年第二次临时股东大会会议资料 2024 年 11 月 15 日 安徽建工集团股份有限公司 2024 年第二次临时股东大会会议资料 二、地点：合肥市黄山路 459 号安建国际大厦公司会议室 安徽建工集团股份有限公司 2024 年第二次临时股东大会会议资料 三、主持人：公司董事长杨善斌先生 一、时间：2024 年 11 月 15 日上午 9:00 | 2024 年第二次临时股东大会会议议程 | I | | --- | --- | | 2024 年第二次临时股东大会注意事项 | II | | 议案一、关于发行超短期融资券和中期票据的议案 | 1 | | 议案二、关于续聘 2024 | 年度财务报告及内控审计机构的议案 3 | 1、宣布会议开始（本次会议采用现场投票与网络投票相结合 的方式。网络投票起止时间：自 2024 年 11 月 15 日至 2024 年 11 月 15 日，现场会议开始时间为 2024 年 11 月 15 日上午 9:00。 本次股东大会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大会召开当日的交易时间段，即 9 ...

近日，刘强先生参加了上海证券交易所 2024 年第 5 期主板上市公司董事会秘书任 职培训并通过测试，取得董事会秘书任职培训证明，其任职资格备案已经上海证券交易 所审核无异议通过，符合《上海证券交易所股票上市规则》规定的董事会秘书任职资格 要求。刘强先生自其任职备案审核通过之日起正式履行董事会秘书职责，公司副董事长、 总经理李有贵先生不再代行董事会秘书职责。 特此公告。 安徽建工集团股份有限公司董事会 证券代码：6 00502 证 券 简 称 ：安 徽 建 工 编 号 ：2024-07 0 安徽建工集团股份有限公司 关于董事会秘书正式履职的公告 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。 安徽建工集团股份有限公司（以下简称"公司"）于 2024 年 9 月 20 日召开第九届 董事会第一次会议，审议通过了《关于聘任董事会秘书的议案》，同意聘刘强先生任公 司董事会秘书，任期自第九届董事会第一次会议通过之日起至第九届董事会届满之日 止。由于刘强先生获聘时尚未取得上海证券交易所董事会秘书任职培训证明，在其正式 履职前，暂由公司副 ...

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company's net profit for the first three quarters of 2024 decreased by 9.55% year-on-year, slightly below expectations, primarily due to industry investment pressure leading to a continuous decline in revenue [6] - The company signed new orders worth 103.8 billion yuan in 2024 Q1-3, a year-on-year increase of 2.21%, with infrastructure engineering orders increasing by 17.98% [6] - The report highlights the potential for growth in Anhui province, driven by government investment and debt resolution policies, which are expected to stabilize industry investment in the fourth quarter of 2024 and into 2025 [6] Summary by Sections Market Data - Closing price: 4.96 yuan - One-year high/low: 5.34/3.82 yuan - Price-to-book ratio: 0.8 - Dividend yield: 5.24% - Circulating A-share market value: 8,514 million yuan [2] Financial Data - Net asset per share: 6.07 yuan - Asset-liability ratio: 85.91% - Total share capital: 1,717 million [3] Revenue and Profit Forecast - Total revenue for 2024E is projected at 91,619 million yuan, with a year-on-year growth rate of 0.4% - Net profit for 2024E is projected at 1,601 million yuan, with a year-on-year growth rate of 3.1% - Earnings per share for 2024E is expected to be 0.93 yuan [7][9]

Investment Rating - The report maintains a **Buy** rating for Anhui Construction Engineering Group (600502 SH) [3] Core Views - Revenue and profitability continue to face pressure, with a year-on-year decline in both revenue and net profit [3] - New contract signings have resumed double-digit growth, indicating a potential recovery in business momentum [3][6] Financial Performance - **Revenue**: The company achieved revenue of 53 963 billion yuan in the first three quarters, a year-on-year decrease of 9 96% Single-quarter revenue in Q3 was 20 502 billion yuan, down 8 71% year-on-year [3] - **Net Profit**: Net profit attributable to shareholders was 962 million yuan, a year-on-year decrease of 9 55% Adjusted net profit was 860 million yuan, down 21 86% year-on-year [3] - **Gross Margin**: The comprehensive gross margin for the first three quarters was 12 22%, up 0 62 percentage points year-on-year However, the Q3 gross margin was 11 37%, down 0 32 percentage points year-on-year [4] - **Expense Ratio**: The expense ratio for the first three quarters was 8 46%, up 1 05 percentage points year-on-year, with increases in management and R&D expenses [4] - **Cash Flow**: Operating cash flow was a net outflow of 5 255 billion yuan in the first three quarters, with a cash collection ratio of 94 79%, down 11 66 percentage points year-on-year [5] New Contract Signings - **Q3 New Contracts**: The company signed new engineering contracts worth 31 475 billion yuan in Q3, a year-on-year increase of 17 85% [6] - **Year-to-Date Contracts**: Cumulative new contract signings for the first three quarters reached 103 762 billion yuan, up 2 21% year-on-year [6] - **Business Structure Optimization**: Infrastructure business accounted for 71 84% of total contracts, with a significant increase in water conservancy engineering contracts (up 333 41%) [6] - **Emerging Business Growth**: New contracts in design and testing, intelligent manufacturing, and building industrialization showed strong growth, with increases of 37 89%, 255 83%, and 0 20% respectively [6] Industry Context - The report highlights potential investment opportunities in local state-owned construction enterprises amid government debt resolution efforts [7] - The company's high dividend yield (28 7% in 2023) and expected stable dividend payout in 2024 are noted as attractive attributes [7] Market Performance - The current stock price is 4 90 yuan, with a 12-month high/low range of 5 34 yuan to 3 82 yuan [8] - The company's market performance over the past 12 months has shown fluctuations, with a notable divergence from the CSI 300 index [9]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a projected relative return of over 20% within the next six months [6][14]. Core Views - The company has experienced a decline in revenue and net profit for the first three quarters of 2024, with revenue at 53.963 billion yuan, down 9.96% year-on-year, and net profit at 0.962 billion yuan, down 9.55% year-on-year [1]. - Despite the challenges, there is an expectation of upward momentum in the infrastructure and housing construction sectors in the fourth quarter, supported by fiscal stimulus measures and ongoing projects in regions like Anhui [3]. - The company's valuation is currently at a historical low, with a PE ratio of 14.88% and a PB ratio of 12.75%, alongside a dividend yield of 5.3%, suggesting long-term investment value [4]. Financial Performance Summary - For the first three quarters of 2024, the company reported a gross margin of 11.37% in Q3, a slight decrease of 0.32 percentage points year-on-year, while the cumulative gross margin for the first three quarters was 12.2%, an increase of 0.62 percentage points year-on-year [2]. - The company recorded a cash flow from operations (CFO) net outflow of 5.255 billion yuan for the first three quarters, a significant decline compared to the previous year [2]. - The projected revenue for 2024 is 88.946 billion yuan, reflecting a decrease of 2.52% compared to 2023, with net profit expected to be 1.574 billion yuan, a slight increase of 1.31% [5][10]. Market and Economic Context - The macroeconomic environment is expected to improve due to government measures aimed at increasing fiscal support and facilitating infrastructure projects, which may positively impact the company's performance [3]. - Anhui province's GDP grew by 5.4% year-on-year in the first three quarters of 2024, with fixed asset investment increasing by 4.2%, indicating a robust local economy that could benefit the company [3].

Summary of Conference Call Records Company and Industry - The conference call pertains to Anhui Construction Engineering Group Co., Ltd., focusing on the construction and engineering industry. Key Points and Arguments 1. **Financial Performance**: - For the first three quarters, the company achieved a total revenue of 539.63 million, a year-on-year decrease of 9.96%. The net profit was 9.62 million, down 9.55% year-on-year. The decline is attributed to macroeconomic impacts and project delays due to risk control measures [1][2][3]. 2. **Order Growth**: - New contracts signed in Q3 increased by 17.85% year-on-year, with a total increase of 2% for the first three quarters. This growth is seen as a positive indicator for future sustainability [1][2]. 3. **Market Expansion**: - The company received a special grade qualification in water conservancy engineering, enhancing its competitive edge in the market. This qualification is significant as it positions the company among the top 35 in the nation [2]. 4. **Debt Management**: - The debt-to-asset ratio decreased by 0.04 percentage points compared to the beginning of the year, indicating stable financial management [2]. 5. **Profit Margins**: - The gross profit margin has gradually improved compared to the previous year, attributed to enhanced project management and business structure optimization [2]. 6. **Future Outlook**: - The company aims to meet its annual targets despite challenges, focusing on market expansion, project management, and debt recovery [2][3]. 7. **Government Support**: - The government is accelerating project approvals and funding, which is expected to positively impact the company's operations in Q4 [3][4]. 8. **Cash Flow Concerns**: - Operating cash flow has seen a significant outflow due to delayed payments from local governments, primarily influenced by the real estate market downturn [7][8]. 9. **Sector-Specific Insights**: - The company is focusing on water conservancy and transportation projects, with a notable increase in water conservancy orders, which reached approximately 96 million in the first three quarters [5][6]. 10. **Renewable Energy Initiatives**: - The company is exploring opportunities in the renewable energy sector, particularly in photovoltaic building integration, leveraging its existing infrastructure [9]. 11. **Dividend Policy and M&A Strategy**: - The company maintains a high dividend payout ratio and is open to mergers and acquisitions to enhance its market position and operational efficiency [10]. Other Important but Overlooked Content - The company is actively monitoring the impact of national policies on its operations and is prepared to adapt its strategies accordingly. - There is a focus on improving the quality of projects undertaken, particularly in the housing sector, by selecting safer and more profitable projects [6]. - The company is also considering the implications of new regulations on prefabricated construction and aims to increase its market share in this area [7].

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company's revenue recognition continues to slow down, and operating cash flow is under pressure year-on-year [2] - In the first three quarters of 2024, the company achieved revenue of 53.963 billion yuan, a year-on-year decrease of 9.96%, and a net profit attributable to shareholders of 0.962 billion yuan, down 9.55% year-on-year [2] - The company has seen a rapid growth in new contracts for traditional infrastructure, while emerging businesses are gradually showing growth potential [2][3] - The company expects to achieve operating revenues of 81.95 billion yuan, 78.58 billion yuan, and 81.49 billion yuan for 2024-2026, with net profits of 1.27 billion yuan, 1.16 billion yuan, and 1.35 billion yuan respectively [3] Financial Performance Summary - For Q1-Q3 2024, the company's gross profit margin was 12.22%, an increase of 0.62 percentage points year-on-year, while the net profit margin was 1.78%, an increase of 0.01 percentage points year-on-year [3] - The company reported a net cash outflow from operating activities of 5.255 billion yuan, which is an increase in outflow of 5.367 billion yuan compared to the same period last year [3] - The company signed new contracts worth 103.76 billion yuan in the first three quarters of 2024, a year-on-year increase of 2.21% [2][3] - The company’s new business segments, including design testing, intelligent manufacturing, and building materials trade, have shown significant growth, with new orders increasing by 37.9%, 255.8%, and 157.5% respectively [2] Future Projections - The company forecasts a revenue growth rate of -10.19% for 2024, -4.11% for 2025, and a recovery to 3.69% in 2026 [4] - The projected earnings per share (EPS) for 2024 is 0.74 yuan, decreasing from 0.91 yuan in 2023, with a PE ratio of 6.65 for 2024 [4][5]

证券代码：600502 证 券 简 称 ：安 徽 建 工 编 号 ：2024-066 安徽建工集团股份有限公司 关于申请发行超短期融资券和中期票据的公告 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法律责任。 为进一步拓展融资渠道，优化融资结构，降低融资成本，本公司拟向中国银行间市 场交易商协会申请注册发行超短期融资券（以下简称"超短融"）和中期票据（以下简 称"中票"），具体情况如下： 一、发行种类及发行主要条款 （一）发行种类 发行种类为超短期融资券（SCP）和中期票据（MTN）。 （二）发行主体、规模及发行方式 发行主体为本公司。本次超短融注册发行规模不超过40亿元（含40亿元），中票注 册发行规模不超过80亿元(含80亿元)。具体规模将以在中国银行间市场交易商协会注册 的金额为准。发行方式为根据资金需求分期、公开发行。 （三）发行对象 发行对象为符合认购条件的投资者。 （四）发行利率 参考发行时与发行期限相当的超短融和中票市场利率，由公司和主承销商根据发行 时的市场情况，以薄记建档的结果最终确定。 （五）募集资金用途 根据公司 ...