Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Dongpeng Beverage, Zhongchong Co., Hikvision, Defu Technology, and Xinyi Technology [10][11] - In the last five days, the most popular companies for institutional research include Nanwei Medical, Anjisi, Jinchengzi, New Strong Union, and Baiya Co. [10][11] - Among the top twenty companies in the past 30 days, twelve companies had ten or more rating agencies, including Dongpeng Beverage, Zhongchong Co., Ninebot, Baiya Co., Hikvision, Jereh, Xinyi Technology, Hongfa Technology, Nanwei Medical, Baijia Shenzhou, Huaming Equipment, and Shijia Photon [10][11] - Companies such as Xinyi Technology, Dongpeng Beverage, Zhongchong Co., and Ninebot are expected to see significant growth in net profit attributable to shareholders in 2024 compared to 2023 [10][11] Group 2: Shareholder Increase and Buyback Situations - From August 11 to August 15, 2025, five companies announced significant shareholder increases, but the average proposed increase amount was less than 1% of the market value on the announcement date [14] - From January 1 to August 15, 2025, a total of 251 companies announced shareholder increases, with 67 having ten or more rating agencies. Among these, 19 companies had an average proposed increase amount exceeding 1% of the latest market value, including Xinjie Energy, Tunnel Co., Sailun Tire, and Wanrun Co. [15] - During the same period, 1,662 companies announced buyback progress, with 364 having ten or more rating agencies. Among these, 99 companies had a proposed buyback amount exceeding 1% of the market value [19] Group 3: Buyback Progress - From August 11 to August 15, 2025, 51 companies announced buyback progress, with 10 having ten or more rating agencies. Only two companies, Baolong Technology and Fuanna, had a proposed buyback amount exceeding 1% of the market value [18] - From January 1 to August 15, 2025, 99 companies were in the board proposal stage for buybacks, including Liu Gong, Sanor Biotech, Shantui, Haixing Electric, Jiayi Co., and Gaoneng Environment [19] Group 4: Institutional Fund Flow - During the week of August 11 to August 15, 2025, sectors such as power equipment, electronics, real estate, non-bank financials, public utilities, computers, home appliances, building materials, light industry manufacturing, and banking received net inflows from institutional funds [24]

Investment Rating - The report maintains an "Overweight" rating for the construction and engineering sector and the building materials sector [6]. Core Insights - Infrastructure investment growth is expected to continue, with a focus on key projects in the western region, such as the Yajiang Group and Xinjiang Tibet Railway Company, which are likely to enhance growth stability [1]. - The real estate sector is experiencing a decline in sales and new starts, but recent policy support may improve retail consumption and new construction starts [2]. - Cement production has seen a decline in both volume and price, but there are signs of price stabilization in certain regions as of mid-August [3]. - The flat glass market has shown fluctuations in prices, with a rebound in photovoltaic glass prices due to inventory reduction [4]. Summary by Sections Infrastructure Investment - From January to July 2025, infrastructure investment (excluding electricity, heat, gas, and water supply) grew by 3.2% year-on-year, while real estate and manufacturing investments declined by 12.0% and increased by 6.2%, respectively [1]. - Key projects in the western region are expected to bolster growth, with recommendations for companies like Tunnel Co., China National Materials, and others [1]. Real Estate Market - Real estate sales, new starts, and completion areas saw declines of 4.0%, 19.4%, and 16.5% year-on-year, respectively, but new policies may help improve these figures [2]. - Retail sales of building and decoration materials reached 96 billion yuan, up 2.2% year-on-year, indicating some recovery in the sector [2]. Cement Industry - Cement production from January to July 2025 totaled 958 million tons, down 4.5% year-on-year, with a significant price drop of 11.4% in July [3]. - As of mid-August, cement prices in the Yangtze River Delta region began to rise, suggesting potential stabilization in the market [3]. Glass Industry - The production of flat glass decreased by 5.0% year-on-year, with prices showing a significant drop in July but rebounding in early August due to inventory adjustments in photovoltaic glass [4]. Stock Recommendations - The report recommends buying stocks such as Tunnel Co. (600820 CH), China National Materials (600970 CH), and others, with target prices set for each [8][30].

Core Points - The infrastructure sector experienced a decline of 1.25% on August 14, with Beixin Road and Bridge leading the drop [1] - The Shanghai Composite Index closed at 3666.44, down 0.46%, while the Shenzhen Component Index closed at 11451.43, down 0.87% [1] Stock Performance - Daqian Ecology (603952) saw a significant increase of 10.00%, closing at 43.35 with a trading volume of 81,800 shares and a transaction value of 346 million [1] - Chengdu Road and Bridge (002628) rose by 7.09%, closing at 5.29 with a trading volume of 1,255,900 shares [1] - Hangzhou Yuanlin (300649) increased by 3.25%, closing at 17.14 with a trading volume of 107,300 shares [1] - Sichuan Road and Bridge (600039) had a slight increase of 0.72%, closing at 8.42 with a trading volume of 634,200 shares [1] - Longjian Co. (600853) and Tunnel Co. (600820) had minimal changes, closing at 3.96 and 6.69 respectively [1] - ST Yuancheng (603388) decreased by 0.45%, closing at 2.21 [1] - Shandong Road and Bridge (000498) and Pudong Construction (600284) also saw slight declines [1] Capital Flow - The infrastructure sector experienced a net outflow of 1.084 billion from institutional investors, while retail investors contributed a net inflow of 907 million [3] - Speculative funds saw a net inflow of 177 million into the sector [3]

Group 1 - The stock price of Tunnel Corporation (600820) closed at 6.68 yuan, down 0.6%, with a turnover rate of 0.92% and a trading volume of 288,800 hands, amounting to 193 million yuan [1] - The latest financial report for the first quarter of 2025 shows total revenue of 10.549 billion yuan, a year-on-year decrease of 25.33%, and a net profit attributable to shareholders of 330 million yuan, also down 25.38% [1] - The company has a current ratio of 0.904, a quick ratio of 0.891, and a debt-to-asset ratio of 75.75% [1] Group 2 - Tunnel Corporation has made investments in 35 companies and participated in 757 bidding projects [2] - The company holds 8 trademark registrations and 266 patents, along with 140 administrative licenses [2]

Core Insights - Tunnel Corporation (隧道股份) reported a closing price of 6.72 yuan as of August 11, 2025, with a slight increase of 0.15% and a trading volume of 451,700 shares, amounting to 303 million yuan in transaction value [1] Financial Performance - For Q1 2025, the company recorded total revenue of 10.549 billion yuan, a year-on-year decrease of 25.33% - The net profit attributable to shareholders was 330 million yuan, down 25.38% year-on-year - The non-recurring net profit was 282 million yuan, reflecting a decline of 33.74% year-on-year - The current ratio stood at 0.904, the quick ratio at 0.891, and the debt-to-asset ratio was 75.75% [1] Capital Flow - On the day of reporting, the main capital outflow was 30.9152 million yuan, accounting for 10.21% of the total transaction value - Large orders saw a net outflow of 21.8497 million yuan (7.22% of transaction value), while medium orders had a net inflow of 15.2072 million yuan (5.02%) - Small orders experienced a net inflow of 15.7080 million yuan, representing 5.19% of the transaction value [1] Company Background - Shanghai Tunnel Engineering Co., Ltd. was established in 1993 and is primarily engaged in construction decoration and other building industries - The company has a registered capital of approximately 3.144 billion yuan and a paid-in capital of about 733.52 million yuan - The legal representative of the company is Ge Yiheng [1][2] Investment and Intellectual Property - The company has made investments in 35 enterprises and participated in 757 bidding projects - It holds 8 trademark registrations and 266 patents, along with 140 administrative licenses [2]

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Northern Rare Earth, Ice Wheel Environment, Weili Transmission, Jiangbolong, and Dazhu Laser [10][11] - In the last five days, the most popular companies for institutional research include Huaming Equipment, Tapa Group, BOE Technology Group, Xizi Clean Energy, and Amway Co., Ltd. [10][12] - Among the top twenty companies in the past 30 days, seven companies had ten or more rating agencies, including Zhongkong Technology, Ningbo Bank, China National Heavy Duty Truck Group, BOE Technology Group, Kebo Da, Huaming Equipment, and Northern Rare Earth. Notably, China National Heavy Duty Truck Group, BOE Technology Group, and Kebo Da are expected to see significant growth in net profit attributable to shareholders in 2024 compared to 2023 [10][11] Group 2: Shareholder Increase in A-Share Listed Companies - From August 4 to August 8, 2025, two companies announced significant shareholder increases: Huaxi Biological and Daodaquan. Huaxi Biological has more than ten rating agencies, with the average proposed increase amount accounting for approximately 1% of the latest market value [13][14] - From January 1 to August 8, 2025, a total of 246 companies announced shareholder increases, with 65 of them having ten or more rating agencies. Among these, 19 companies had an average proposed increase amount accounting for more than 1% of the latest market value, including New Energy, Tunnel Shares, Sailun Tires, and Wanrun Shares [14][15] Group 3: Share Buyback Situation in A-Share Listed Companies - From August 4 to August 8, 2025, a total of 106 companies announced buyback progress, with 33 of them having ten or more rating agencies. Among these, eight companies had an average expected buyback amount accounting for more than 1% of the market value on the announcement date, including Xiamen Xiangyu, Huafa Shares, Changhong Meiling, Newland, Xinmai Medical, Huaming Equipment, Jinzhai Food, and BOE Technology Group [17][18] - From January 1 to August 8, 2025, a total of 1,654 companies announced buyback progress, with 361 of them having ten or more rating agencies. Among these, 101 companies had a significant buyback ratio, with the expected buyback amount accounting for more than 1% of the market value on the announcement date, including Liugong, Sannuo Biological, Shantui Shares, Haixing Electric, Jiayi Shares, Fuanna, and Gao Neng Environment [18][19]

Summary of Key Points Core Viewpoint - Tunnel Corporation (隧道股份) is set to distribute a cash dividend of 0.22 RMB per share, with significant details regarding the dividend distribution process outlined in the company's announcement [2][4]. Trading Information - As of August 8, 2025, Tunnel Corporation's stock closed at 6.71 RMB, reflecting a 1.21% increase, with a turnover rate of 2.3% and a trading volume of 722,800 shares, resulting in a total transaction value of 485 million RMB [1]. - On the same day, the net outflow of main funds was 37.21 million RMB, accounting for 7.67% of the total transaction value, while retail investors saw a net inflow of 19.67 million RMB, representing 4.05% of the total [2][4]. Company Announcements - The company announced a cash dividend distribution of 691.70 million RMB based on a total share capital of 3,144,096,094 shares, with the record date set for August 14, 2025, and the payment date on August 15, 2025 [2]. - Specific tax implications for different types of shareholders were detailed, including a tax exemption for individual shareholders holding shares for over one year, and a 10% withholding tax for QFII and Hong Kong Stock Exchange investors [2].

Core Points - Tunnel Corporation (600820) closed at 6.71 yuan on August 8, 2025, up 1.21% from last week's 6.63 yuan [1] - The company's market capitalization is currently 21.097 billion yuan, ranking 8th out of 46 in the infrastructure sector and 826th out of 5,151 in the A-share market [1] Company Announcements - Tunnel Corporation announced a cash dividend of 0.22 yuan per share, with the record date set for August 14, 2025 [1] - The total cash dividend distribution amounts to approximately 691.70 million yuan based on a total share capital of 3,144,096,094 shares [1] - For individual shareholders and securities investment funds holding shares for over one year, the dividend income is exempt from personal income tax, resulting in an actual cash dividend of 0.22 yuan per share [1] - For QFII shareholders and investors from the Hong Kong Stock Exchange, a 10% withholding tax applies, leading to a net cash dividend of 0.198 yuan per share [1] - Other institutional investors will receive the full cash dividend of 0.22 yuan per share [1]

Group 1 - The stock price of Tunnel Engineering Co., Ltd. (600820) closed at 6.63 yuan on August 7, 2025, down by 0.15% with a turnover rate of 0.96% and a trading volume of 302,300 shares, amounting to a total transaction value of 200 million yuan [1] - On August 7, the net outflow of main funds was 15.4627 million yuan, accounting for 7.72% of the total transaction value, while retail investors saw a net inflow of 10.8123 million yuan, representing 5.4% of the total transaction value [2][4] - The company announced a cash dividend of 0.22 yuan per share for the 2024 annual equity distribution, with a total cash dividend payout of approximately 691.7 million yuan based on the total share capital of 3,144,096,094 shares [2][4] Group 2 - The record date for the dividend distribution is August 14, 2025, and the ex-dividend date along with the cash dividend payment date is set for August 15, 2025 [2] - For individual shareholders holding shares for more than one year, the dividend income is exempt from personal income tax, resulting in an actual cash dividend of 0.22 yuan per share [2] - For QFII shareholders and investors from the Hong Kong Stock Exchange, a 10% tax will be withheld, leading to a net cash dividend of 0.198 yuan per share [2]

截至2025年8月7日15时，隧道股份股价报6.63元，较前一交易日下跌0.01元，跌幅0.15%。当日成交量 为302276手，成交额达2.00亿元，振幅为0.90%。 资金流向方面，8月7日主力资金净流出1546.27万元，占流通市值的0.07%。近五日主力资金累计净流入 1197.82万元，占流通市值的0.06%。 风险提示：市场有风险，投资需谨慎。 隧道股份主营业务涵盖工程建设领域，市场覆盖全球多个国家和地区。公司是中国基建板块首家上市企 业，专注于城市基础设施的设计、施工及运营。 消息面上，隧道股份公告2024年年度权益分派方案，拟每股派发现金红利0.22元（含税），合计派发约 6.92亿元。股权登记日为2025年8月14日，除权除息日为8月15日。此外，公司近期与徐工机械签署战略 合作协议，双方将在国际市场拓展、智能化装备研发等领域深化合作。 ...