证券代码：600820 证券简称：隧道股份 公告编号：2025-061 上海隧道工程股份有限公司 2025年第一次临时股东会决议公告 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法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 660 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,439,933,872 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 45.7980 | | 份总数的比例（%） | | 表决情况： (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东会由公司董事会召集，董事长葛以衡先生主持本次股东会。会议采取现 场及网络相结合的投票方式，符合《中华人民共和国公司法》及《公司章程》的 规定。 (一) 股东大会召开的时间：2025 年 12 月 29 日 (二) 股东大会召开的地点：上海市宛平南路 1099 号一楼多媒体会议厅 (三) 出席会议的普通股股东和恢 ...

上海隧道工程股份有限公司 2025 年第一次临时股东会法律意见书 .IIN MAO P.R.C.LAWYERS 茂 建 Urb . 国 40th Floor, Bund Center, 222 East Yan Road, Shanghai 200002, China 中国 上海 200002 延安东路 222 号 外滩中心 40 楼 Tel/电话:(8621) 6249 6040 Fax/传真:(8621) 6249 5611 E-mail/电子信箱:info@jinmao.com.cn 上海市金茂律师事务所 关于上海隧道工程股份有限公司 2025 年第一次临时股东会的法律意见书 致:上海隧道工程股份有限公司 上海隧道工程股份有限公司 2025 年第一次临时股东会法律意见书 台，网络投票的时间和方式与本次股东会的通知内容一致。 经审核,本次股东会召开时间、地点及会议内容与通知和公告一致。公司发 出通知的时间、方式及通知内容均符合法律、法规和规范性文件及《公司章程》 的相关规定，本次股东会的召集和召开程序符合相关法律、法规和规范性文件及 《公司章程》的规定。 二、本次股东会出席人员和召集人的资格 1、出席会议 ...

Core Viewpoint - Tunnel Corporation has three employees, Wang Huili, Teng Li, and Pan Weiqiang, awarded the "Shanghai Craftsman" honor, showcasing the company's systematic achievements in talent cultivation and craftsmanship [4][17]. Group 1: Recognition of Employees - The three awarded craftsmen were selected from a pool of 1,112 candidates after a rigorous six-month evaluation process [4][17]. - With this recognition, the total number of "Shanghai Craftsman" titles held by Tunnel Corporation employees has reached 19, highlighting the company's commitment to nurturing talent [4][17]. Group 2: Contributions of Awardees - Wang Huili focuses on empowering traffic facility updates through digital technology, utilizing drone tilt photography and laser point cloud scanning for efficient modeling, and introducing innovative protective techniques for bridge construction [8][21]. - Teng Li has led the development of key technologies for smart highways, achieving a 20% reduction in road accident rates and a 60% improvement in emergency response efficiency, while promoting a comprehensive lifecycle management system for tunnels [10][23]. - Pan Weiqiang has contributed to foundation engineering by developing pioneering technologies for deep foundation deformation control and pressure water management, significantly enhancing construction efficiency and breaking foreign monopolies in the field [12][25].

Core Insights - The report highlights a significant decline in fixed asset investment (FAI) in 2025, with infrastructure investment becoming a drag on the economy, prompting the economic work conference to emphasize "investment stabilization" [2][9] - Looking ahead to 2026, the report suggests that "active fiscal policies" will drive investment stabilization, with a focus on structural opportunities in the construction sector, including western infrastructure, overseas engineering, and new infrastructure [2][9] Group 1: Economic Overview - In 2025, FAI experienced a comprehensive decline, with infrastructure investment significantly dropping, particularly in the third quarter, where narrow infrastructure investment turned negative, declining by 8.7% in October [23][28] - The report notes that the actual situation of infrastructure investment may have deteriorated earlier than expected in 2024, despite apparent growth in infrastructure investment [30][34] Group 2: Structural Opportunities - The report emphasizes the importance of structural opportunities in the construction sector, particularly in western infrastructure projects, overseas engineering, and new infrastructure driven by technological advancements [45][46] - Specific recommendations include focusing on high-dividend leading companies in western regions, such as Sichuan Road and Bridge, and exploring opportunities in Xinjiang and Tibet [9][10] Group 3: Overseas Engineering - The report indicates that overseas engineering demand remains strong, driven by favorable client structures and business models of central enterprises, as well as private enterprises expanding into international markets [10][11] - Key recommendations for overseas engineering include companies like China National Materials, Jianghe Group, and Jinggong Steel Structure, which are expected to perform well in terms of earnings and dividends [10][11] Group 4: New Infrastructure - The report identifies several sectors within new infrastructure that are expected to see growth, including clean rooms, commercial aerospace, nuclear power, and low-altitude economy, driven by technological advancements and safety demands [10][11] - Specific companies recommended in these sectors include Yaxiang Integration for clean rooms and China Nuclear Engineering for nuclear power projects [10][11] Group 5: Traditional Demand - The report notes that traditional demand, particularly in real estate, remains under pressure, with new and second-hand housing demand still facing challenges [11] - It highlights the potential turning point for companies like Honglu Steel Structure, which may benefit from improved cyclical sentiment and operational efficiency [11] Group 6: Reform and Restructuring - The report discusses the need for deep reforms in the construction sector to enhance global competitiveness, focusing on identifying quality assets and new business opportunities for central enterprises [12][12] - It also emphasizes the importance of market value management and the potential for mergers and acquisitions in the construction industry [12][12]

| 证券代码：600820 | 证券简称：隧道股份 | | | 公告编号：2025-060 | | --- | --- | --- | --- | --- | | 债券代码：115633 | 债券简称：23 | 隧道 | K1 | | | 债券代码：115902 | 债券简称：23 | 隧道 | K2 | | | 姓名 | 离任职 务 | 离任时间 | 原定任期到期 日 | 离任原因 | 是否继续在 上市公司及 | 具体职 务（如适 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 其控股子公 | 用） | 毕的公开 | | | | | | | 司任职 | | 承诺 | | 孙桂峰 | 副总裁 | 2025 年 12 月 | 2025 年 1 月 26 | 到龄退休 | 否 | / | 否 | | | | 24 日 | 日 | | | | | 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。 上海隧道工程股份有限公司（以下简称" ...

Group 1 - Jizhi Co., Ltd. plans to acquire at least 51% equity in Pumai Technology through cash payment, aiming to gain control over the company, which is a leading enterprise in the field of robot performance testing and calibration in China [1] - Yaxing Chemical's subsidiary intends to transfer 7.14% equity for 60 million yuan to another fund under the same control, indicating strategic investment movements within the same management group [2] - Weigao Bio's application for clinical trials of subcutaneous human immunoglobulin has been accepted by the National Medical Products Administration, targeting primary immunodeficiency diseases [3] Group 2 - Sentai Co., Ltd.'s controlling shareholder plans to increase shareholding by at least 100 million yuan within 12 months, aiming to enhance confidence in the company's future [4] - Health元's subsidiary has received acceptance for the marketing authorization application of Lecanemab injection, which is intended for moderate to severe plaque psoriasis patients [5][11] - Sunshine Nuohuo has signed a technical development contract for the STC008 injection project, with a total payment of 500 million yuan, indicating significant investment in cancer treatment [6] Group 3 - Hunan YN has been designated as a delivery warehouse for lithium carbonate by the Guangzhou Futures Exchange, enhancing its position in the lithium market [7] - Tianji Co., Ltd. is pushing for the industrialization of lithium sulfide material preparation, although it faces risks in commercialization [8] - Yuandong Bio has received FDA approval for Methylene Blue injection, expanding its product portfolio in the U.S. market [10] Group 4 - Nanshan Aluminum has established a wholly-owned subsidiary in Hainan with an investment of 5 million yuan, focusing on high-end aluminum products [13] - ST Xifa plans to acquire 50% equity in Lhasa Beer, aiming for full ownership, with the transaction currently in the planning stage [14] - Hengrui Medicine's SHR-A1904 injection has been included in the list of breakthrough therapy products, indicating its potential in treating advanced gastric cancer [12] Group 5 - Chengdu Gas is planning to merge three subsidiaries, streamlining operations and enhancing efficiency [26] - Baoli Electric intends to invest 50 million yuan to establish a wholly-owned subsidiary focused on key equipment and solutions in energy storage [27] - Huadian International has successfully put the second unit of its Longkou Phase IV project into commercial operation, marking a significant milestone in its energy production capacity [34]

格隆汇12月24日丨隧道股份(600820.SH)公布，公司董事会于近日收到公司副总裁孙桂峰先生的辞职报 告。孙桂峰先生因到龄退休原因，申请辞去公司副总裁职务。根据《公司法》和《公司章程》等相关规 定，孙桂峰先生的辞职报告自送达公司董事会之日起生效。 ...

| 证券代码：600820 | 股票简称：隧道股份 | | | 编号：临 | 2025-059 | | --- | --- | --- | --- | --- | --- | | 债券代码：115633 | 债券简称：23 | 隧道 | K1 | | | | 债券代码：115902 | 债券简称：23 隧道 | | K2 | | | 上海隧道工程股份有限公司（简称"公司"）董事会于近日收到公 司副总裁孙桂峰先生的辞职报告。孙桂峰先生因到龄退休原因，申请 辞去公司副总裁职务。根据《公司法》和《公司章程》等相关规定， 孙桂峰先生的辞职报告自送达公司董事会之日起生效。 公司衷心感谢孙桂峰先生在任职期间为公司发展所做出的贡献。 特此公告。 上海隧道工程股份有限公司 董事会 2025 年 12 月 25 日 上海隧道工程股份有限公司 关于副总裁辞职的公告 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个别及连带责任。 ...

隧道股份12月24日公告，公司董事会近日收到副总裁孙桂峰的辞职报告，孙桂峰因到龄退休原因，申请 辞去公司副总裁职务，辞职报告自送达公司董事会之日起生效。 ...

南财智讯12月24日电，隧道股份公告，公司董事会于近日收到公司副总裁孙桂峰先生的辞职报告。孙桂 峰先生因到龄退休原因，申请辞去公司副总裁职务。根据《公司法》和《公司章程》等相关规定，孙桂 峰先生的辞职报告自送达公司董事会之日起生效。 ...