Core Viewpoint - The engineering consulting services sector experienced a slight increase of 0.3% on December 26, with Suzhou Planning leading the gains. The Shanghai Composite Index closed at 3963.68, up 0.1%, while the Shenzhen Component Index closed at 13603.89, up 0.54% [1]. Group 1: Stock Performance - Suzhou Planning (301505) saw a significant increase of 12.60%, closing at 23.33 with a trading volume of 114,100 shares and a transaction value of 259 million [1]. - Tongji Technology (600846) increased by 3.89%, closing at 14.15 with a trading volume of 100,400 shares and a transaction value of 140 million [1]. - Bidding Co. (301136) rose by 2.43%, closing at 21.06 with a trading volume of 140,940 shares and a transaction value of 873 million [1]. - Other notable performers include Youan Design (300983) with a 2.10% increase, Huajian Group (600629) with a 1.85% increase, and Jian Kexuan (300675) with a 1.48% increase [1]. Group 2: Fund Flow Analysis - The engineering consulting services sector saw a net inflow of 117 million from institutional investors, while retail investors experienced a net outflow of 190 million [2]. - Major stocks with significant net inflows include Huajian Group (600629) with a net inflow of 123 million, and Bidding Co. (301136) with a net inflow of 68 million [3]. - Conversely, Suzhou Planning (301505) had a net outflow of 238 million from retail investors, indicating a divergence in investor sentiment [3].

Group 1 - The core viewpoint of the news is that Huajian Group's stock has shown significant volatility, with a year-to-date increase of 114.55% and recent fluctuations in trading volume and price [1][2]. - As of December 26, Huajian Group's stock price was 19.52 CNY per share, with a market capitalization of 18.941 billion CNY and a trading volume of 1.54 billion CNY [1]. - The company has experienced a net inflow of main funds amounting to 6.2985 million CNY, with significant buying and selling activity from large orders [1]. Group 2 - Huajian Group, established on June 12, 1992, and listed on February 9, 1993, is based in Shanghai and focuses on engineering design consulting, providing integrated solutions for urban and rural construction [2]. - The company's revenue composition includes 54.82% from engineering design, 34.39% from engineering contracting, 10.34% from engineering technical consulting and surveying, and minor contributions from other services [2]. - As of September 30, 2025, Huajian Group reported a revenue of 4.644 billion CNY, a year-on-year decrease of 15.25%, and a net profit attributable to shareholders of 158 million CNY, down 37.25% year-on-year [2]. Group 3 - Huajian Group has distributed a total of 616 million CNY in dividends since its A-share listing, with 274 million CNY distributed over the past three years [3]. - As of September 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited as the fourth largest shareholder, holding 10.3571 million shares, and new entrants like Guangfa CSI Infrastructure Engineering ETF [3].

Core Viewpoint - The company has decided to terminate the "National Key Regional Localization Branch Construction Project" and will retain the unused funds of 35,141.68 million yuan for future investment opportunities, pending shareholder approval [1][7][15]. Fundraising Overview - The company raised a total of 947,012,897.94 yuan through a private placement of 153,238,333 shares at a price of 6.18 yuan per share, with a net amount of 941,078,384.88 yuan after deducting issuance costs [1][2]. - The funds have been deposited in a dedicated account, and the company has established a three-party or four-party supervision agreement with relevant banks [2]. Changes in Fund Usage - The original plan for the "National Key Regional Localization Branch Construction Project" involved a total investment of 81,809.59 million yuan, with 46,323.29 million yuan allocated from the raised funds [3]. - The project scope was expanded from 10 to 15 cities, but the allocated funds remained the same [3]. - In 2023, the company decided to reallocate 10,800 million yuan of the funds for the acquisition of 100% equity in Shanghai Housing Quality Testing Station Co., Ltd. [4][6]. Project Termination Details - The "National Key Regional Localization Branch Construction Project" was planned for investment in 15 cities, with a total intended investment of 35,523.29 million yuan [8][10]. - As of September 30, 2025, only 381.61 million yuan had been invested, resulting in a cumulative investment rate of 1.07% [12][13]. - The decision to terminate the project was influenced by significant changes in the macroeconomic environment and the real estate sector, which saw a decline in investment [14][15]. Impact of Termination - The termination of the project is deemed a prudent decision that aligns with the company's operational needs and will not adversely affect its core business or financial status [16]. - The company plans to utilize its resources and self-funding for national business promotion and sustainable development [16]. Approval Process - The termination proposal was approved by the company's board of directors and will be submitted for shareholder approval [21].

申万宏源证券承销保荐有限责任公司、 国泰海通证券股份有限公司关于 华东建筑集团股份有限公司 部分募集资金投资项目终止的核查意见 申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承销保荐公司" 或"联合保荐机构"）及国泰海通证券股份有限公司（以下简称"国泰海通"或"联 合保荐机构"）作为华东建筑集团股份有限公司（以下简称"华建集团"或"公司"） 2022年非公开发行股份的持续督导联合保荐机构，根据《证券发行上市保荐业 务管理办法》《上市公司募集资金监管规则》《上海证券交易所股票上市规则》 《上海证券交易所上市公司自律监管指引第11号——持续督导》《上海证券交易 所上市公司自律监管指引第1号——规范运作》等有关规定，对公司部分募集资 金投资项目终止事项进行了核查，具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）《关于核准华东建筑 集团股份有限公司非公开发行股票的批复》（证监许可[2021]2754 号）核准，华 东建筑集团股份有限公司（以下简称"公司"）向包括诺德基金管理有限公司在 内的 21 名特定对象非公开发行股票 153,238,333 股（以下简称"本次发行"） ...

证券代码：600629 证券简称：华建集团 编号：临 2025-065 华东建筑集团股份有限公司 关于部分募集资金投资项目终止的公告 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。 重要内容提示： 公司拟终止"全国重点区域属地化分支机构建设项目"，并将 尚未使用的 35,141.68 万元（该金额不包括募集资金账户累计收到的 银行存款利息等，实际金额以募集资金专户中的余额为准）继续留存 募集资金专户集中管理，待日后有较好投资项目时，公司再履行相关 决策程序后使用。 本议案尚需提交公司股东会审议。 一、募集资金基本情况 （一）募集资金金额及使用情况 经中国证券监督管理委员会（以下简称"中国证监会"）《关于核 准华东建筑集团股份有限公司非公开发行股票的批复》（证监许可 [2021]2754 号）核准，华东建筑集团股份有限公司（以下简称"公 司"）向包括诺德基金管理有限公司在内的 21 名特定对象非公开发行 股票 153,238,333 股（以下简称"本次发行"），发行价格为 6.18 元 /股，募集资金总额 947,012, ...

证券代码：600629 证券简称：华建集团 编号：临2025-064 华东建筑集团股份有限公司 第十一届董事会第十三次会议决议公告 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。 一、董事会会议召开情况 华东建筑集团股份有限公司（以下简称"公司"）第十一届董事会 第十三次会议通知于2025年12月18日以邮件形式发出，会议于2025年12 月25日以通讯方式召开。本次会议应参加董事七人，实际参加董事七人。 本次董事会的召集、召开符合《公司法》和《公司章程》的有关规定， 表决所形成的决议合法、有效。 二、董事会会议审议情况 本次会议审议并通过了如下议案： 1.《关于部分募集资金投资项目终止的议案》 详见公司同日披露于上海证券交易所网站(www.sse.com.cn)的公 告。 本议案已经公司董事会审计与风险控制委员会审议通过，并经独立 董事专门会议审议通过。 表决情况：7票同意、 0票反对、 0票弃权，该议案通过。 本议案尚待提交股东会审议。 1 本议案已经公司董事会薪酬与考核委员会审议通过。 表决情况： 7 票同意、 0 ...

每经头条（nbdtoutiao）——对话马斯克脑机接口"一号受试者"：大脑植入芯片23个月，我正重新夺回 人生的独立 （记者 曾健辉） 每经AI快讯，华建集团（SH 600629，收盘价：18.89元）12月25日晚间发布公告称，公司第十一届第十 三次董事会会议于2025年12月25日以通讯方式召开。会议审议了《关于部分募集资金投资项目终止的议 案》等文件。 2024年1至12月份，华建集团的营业收入构成为：服务业占比99.84%，其他业务占比0.16%。 截至发稿，华建集团市值为183亿元。 ...

华东建筑集团股份有限公司独立董事 独立董事：杨德红、计安平、宋晓燕 关于公司第十一届董事会第十三次会议相关议案的 2025 年 12 月 19 日 独立意见（独立董事专门会议决议） 我们作为华东建筑集团股份有限公司（以下简称"公司"）第十一届 董事会的独立董事，根据《中华人民共和国公司法》《中华人民共和国证 券法》《上市公司独立董事管理办法》《上海证券交易所股票上市规则》《上 海证券交易所上市公司自律监管指引第 1 号-规范运作》等相关法律法规 及规范性文件和《华东建筑集团股份有限公司章程》（以下简称"《公司 章程》"）的相关规定，本着对公司、全体股东负责的态度，秉持实事求 是的原则，对公司第十一届董事会第十三次会议审议的"关于部分募集 资金投资项目终止的议案"，经独立董事专门会议审议，基于独立判断立 场,发表如下独立意见： 我们认为本次部分募集资金投资项目终止是公司根据募投项目的实 际实施情况及公司经营需要做出的谨慎决定，符合公司的发展战略，不 存在因上述对募集资金的安排而损害公司及全体股东，特别是中小股东 利益的情形。符合《上海证券交易所股票上市规则》《上市公司监管指引 第 2 号——上市公司募集资金管理 ...

Core Viewpoint - The company announced the termination of a key regional branch construction project due to changes in macroeconomic and industry conditions, which affected the expected returns from the project [1] Fundraising and Investment - In 2022, the company raised a net amount of 941 million yuan through a private placement of shares [1] - As of September 30, 2025, a total of 448 million yuan has been invested in the fundraising projects [1] Project Termination - The terminated project was intended to invest 355 million yuan, with 3.516 million yuan already spent [1] - The remaining 351 million yuan will be kept in a dedicated fundraising account [1] - The termination of the project has been approved by the board of directors and is pending shareholder meeting approval [1]

Investment Rating - The report rates the industry as "Overweight" [7] Core Insights - The potential for investment growth in new infrastructure remains significant, with a focus on expanding effective investment space and enhancing private investment vitality [2][3] - Central enterprises are encouraged to identify new growth areas, particularly in renewable energy, aerospace, and low-altitude economy sectors [4] - The government is increasing support for capital in key infrastructure projects, including railways and smart construction initiatives [5] Summary by Relevant Sections Recent Key Reports - The report highlights the importance of strategically expanding investment in new infrastructure and emphasizes the need for a coordinated approach to urbanization and rural revitalization [3][4] Key Company Recommendations - Recommended companies include China Railway, China Communications Construction, and China State Construction, all of which are expected to benefit from high dividend yields and stable growth [8][11] - Specific sectors such as clean rooms, commercial aerospace, and controlled nuclear fusion are highlighted for their growth potential, with recommended stocks including Yaxiang Integration and Shanghai Port [6][10] Macro/Meso/Micro Data - The report indicates a projected increase in broad infrastructure funding by 7.3% in 2025, driven by enhanced fiscal policies and the issuance of special bonds [31][32] - It also notes that the construction industry is experiencing a decline in net profit margins, with a 10% year-on-year decrease in net profit reported [14][15]