Investment Rating - The investment rating for the construction and decoration industry is "Positive" (maintained) [2] Core Views - The report emphasizes that the construction sector is expected to experience a "spring surge" as the "14th Five-Year Plan" approaches its start, with significant government support and infrastructure investment anticipated [3][4][10] - The report highlights that the investment pace in the early stages of the "14th Five-Year Plan" is likely to follow historical patterns, with a concentration of project launches and higher investment growth expected [4][10] - The construction sector is advised to focus on three core investment themes for 2026: major national projects, high-dividend state-owned enterprises, and private construction companies leveraging cash flow for new opportunities [5][19] Summary by Sections Policy Developments - The government is actively releasing positive signals regarding the "14th Five-Year Plan," focusing on high-quality development and major infrastructure projects [3][20] - The National Housing and Urban-Rural Development Conference has emphasized stabilizing the real estate market and accelerating the renovation of old urban areas [3][20] Market Performance - The report notes that the construction and decoration index rose by 2.26% during the week, with significant gains in sectors such as decoration and specialized engineering [6] - A total of 101 stocks in the construction sector saw price increases, with notable performers including Hainan Development (+56.46%) and Shanghai Bay (+44.35%) [6] Future Outlook - The report anticipates that the construction sector will see a resurgence in investment activity, particularly in traditional infrastructure such as railways and highways, as well as new infrastructure projects [4][10][14] - The focus on water conservancy and transportation infrastructure is expected to increase, with several provinces already initiating planning for these projects [13][14] - The report suggests that the construction sector will benefit from a shift towards new infrastructure and low-altitude economy projects, which are gaining traction in local planning [14][19]

Investment Rating - The investment rating for the construction and decoration industry is "Positive" (maintained) [2] Core Insights - The report emphasizes the upcoming "spring excitement" in the construction sector as the "14th Five-Year Plan" approaches its start, with a historical pattern of infrastructure investment showing a tendency for higher growth in the early stages of five-year plans [4][10] - The report highlights that the current infrastructure investment is still at a low level, but anticipates an increase in investment pace as the "15th Five-Year Plan" begins, which is expected to support the construction sector's performance in 2026 [4][10] - Key areas of focus for investment include major national projects such as the canal system, Tibet railway, and new energy infrastructure, which are expected to generate long-term order demand [19] Summary by Sections Policy Developments - The report notes that the government is actively releasing positive signals regarding the "15th Five-Year Plan," with a focus on high-quality development and major infrastructure projects [3][20] - The central government has emphasized the importance of stabilizing the real estate market and accelerating the renovation of old urban areas, with significant progress already reported in various provinces [3][21] Market Performance - The report indicates that the construction and decoration index has shown positive performance, with a 2.26% increase, and highlights the top-performing stocks in the sector [6] Future Outlook - The report identifies three core investment themes for the construction sector in 2026: 1. Major national projects that will continue to drive long-term demand [19] 2. High-dividend, low-valuation state-owned construction enterprises that are expected to gain value [19] 3. Private construction companies leveraging cash flow and flexibility to enter new markets such as clean rooms and AI infrastructure [19]

Group 1 - 德方纳米 plans annual equipment maintenance to ensure efficient and stable operation, starting January 1, 2026, for one month, with no significant impact on 2026 performance [1] - 达意隆's subsidiary Tianjin Baolong faces a significant decline in OEM orders due to strategic adjustments from core customers, leading to plans to shut down production lines [2] - 天威视讯's subsidiary plans to transfer project assets for 604.3 million yuan to a related party, constituting a related transaction [3] Group 2 - 金龙羽 intends to sign a strategic cooperation framework agreement with an investment institution to establish an industrial merger fund with a planned scale of 1.5 billion yuan [4] - 紫光国微's subsidiary plans to establish a new company with multiple partners, including a subsidiary of CATL, with a registered capital of 300 million yuan [5] - 信隆健康's major shareholder plans to reduce its stake by up to 1% through trading [6] Group 3 - 龙建股份 wins a 612 million yuan EPC contract for a project, which represents approximately 3.27% of the company's audited revenue for 2024 [7] - 复旦张江 receives acceptance for a clinical trial application for a drug aimed at visualizing malignant lesions in lung cancer patients [9] - 博实股份's major shareholder plans to reduce its stake by up to 2.93% [10] Group 4 - 百纳千成 plans to acquire 100% of Zhonglian Century's shares to expand its marketing business and digital advertising solutions [11] - 天铁科技's major shareholder is under criminal detention, but the investigation is unrelated to the company's operations [12] - 海看股份's shareholder plans to reduce its stake by up to 3.6% [13] Group 5 - 智光电气's subsidiary signs a procurement contract worth 148 million yuan for a high-voltage energy storage system [14] - 西藏矿业's attempt to transfer 100% of a subsidiary's equity has not attracted qualified buyers, leading to automatic withdrawal from the trading platform [15] - 英诺激光's major shareholder plans to reduce its stake by up to 3% [16] Group 6 - 福鞍股份's major shareholder plans to reduce its stake by up to 3% [17] - 白云山 receives a drug registration certificate for a rabies vaccine [18] - 华电科工 signs a contract worth approximately 265 million yuan for a power plant project [19] Group 7 - 康弘药业 receives a drug registration certificate for a medication used to treat schizophrenia [20] - 西菱动力's actual controller plans to reduce their stake by 2% [21] - 海希通讯's actual controller plans to reduce their stake by 0.48% [22] Group 8 - 海南机场 plans to transfer 90% of a subsidiary's equity for approximately 500 million yuan, expecting a profit of about 200 million yuan from the transaction [23] - 森远股份 signs a contract for a computing cluster integration project worth 26.78 million yuan [24] - 丽珠集团's subsidiary receives acceptance for a drug registration application for a new treatment for psoriasis [25] Group 9 - 郑州银行 plans to acquire a village bank and convert it into a branch [26] - 方正证券 announces a cash dividend distribution plan for the third quarter of 2025 [27] - 金陵体育 announces a cash dividend distribution plan for the first three quarters of 2025 [29] Group 10 - 紫金银行 announces a mid-term profit distribution plan for 2025 [30] - *ST建艺's major shareholder waives 1.4 billion yuan in debt and donates 400 million yuan to support the company [31] - 万朗磁塑's major shareholder plans to reduce their stake by up to 3% [32] Group 11 - 艾力斯's core product is included in a list of potential breakthrough therapies for lung cancer [33] - 富创精密's shareholder plans to transfer 918.63 million shares [34] - 东阳光's subsidiary plans to increase capital and introduce investors [35] Group 12 - 侨银股份 plans to acquire a 16.67% partnership in a venture capital fund [36] - 尤夫股份 receives a government subsidy of 4.04 million yuan for a technical improvement project [37] - 倍轻松 and its actual controller are under investigation for information disclosure violations [38] Group 13 - 万润新能 plans to reduce production on some lines for maintenance, expecting a reduction of 5,000 to 20,000 tons in lithium iron phosphate output [39]

Group 1 - The National Development and Reform Commission will hold a press conference on the National Venture Capital Guidance Fund on December 26 at 10:30 AM [2] - The National Health Commission will hold a press conference in the afternoon to discuss eight key initiatives for public service [3] - A total of 12 companies will have their restricted shares unlocked today, with a combined unlock volume of 10.462 billion shares, amounting to a market value of 22.042 billion yuan [3] Group 2 - Among the companies with significant unlock volumes, HNA Holding, Hanma Technology, and Hainan Haiyao lead with unlock shares of 9.973 billion, 235 million, and 131 million respectively [3] - The companies with the highest unlock market values are HNA Holding (17.552 billion yuan), Hanma Technology (1.436 billion yuan), and Shanwaishan (1.293 billion yuan) [3] - Sixteen companies disclosed stock repurchase progress, with five companies announcing new repurchase plans and two companies having their plans approved by shareholders [3][4] Group 3 - Five companies disclosed progress on private placements, with one company announcing a new private placement plan and three plans approved by shareholders [5] - Eight A-shares will undergo equity registration today, with five companies planning to distribute dividends [6] - The companies with the highest dividend payouts are Citic Publishing (1.60 yuan per 10 shares), Yanjing Beer (1.00 yuan), and Longyuan Power (1.00 yuan) [6]

Core Viewpoint - Longjian Road and Bridge Co., Ltd. announced the convening of its 28th meeting of the 10th Board of Directors on December 25, 2025, where several proposals, including the revision of the "Annual Work System for Independent Directors," were approved [2] Group 1 - The meeting was held on December 25, 2025 [2] - The board approved multiple proposals during the meeting [2] - One of the key proposals was the revision of the independent directors' annual work system [2]

工程概况：在贵港市覃塘区樟木镇开展土地综合整治项目，实现糖料蔗种植用地集中连片并达到双高基 地要求，整治土地总面积约8.3万亩。项目按现代智慧农业技术打造8.3万亩双高基地，含土地平整、灌 溉与排水工程、精准农业系统、智能化灌溉系统、化粪处理一体化设施等。本项目公司及广西公司承担 的施工任务约占公司2024年经审计营业收入的3.27%。 格隆汇12月25日丨龙建股份(600853.SH)公布，公司、广西公司和广西润宏水利水电勘测设计有限公司 组成的联合体被确定为贵港市覃塘区畜禽粪污资源化利用和糖料蔗生态种养循环产业园（种植部分） EPC总承包（以下简称项目、本项目）中标人，中标价6.12亿元。 ...

Core Viewpoint - Longjian Co., Ltd. announced the convening of its fourth extraordinary shareholders' meeting on December 25, 2025, to review multiple proposals, including the repurchase and cancellation of part of the restricted stock from the 2021 incentive plan [1] Group 1 - The company will hold the extraordinary shareholders' meeting on December 25, 2025 [1] - The agenda includes the proposal to repurchase and cancel part of the restricted stock from the 2021 incentive plan [1]

智通财经APP讯，龙建股份(600853.SH)发布公告，近日，公司与公司全资子公司龙建路桥广西有限公 司(简称广西公司)，广西润宏水利水电勘测设计有限公司组成联合体被确定为贵港市覃塘区畜禽粪污资 源化利用和糖料蔗生态种养循环产业园(种植部分)EPC总承包中标人，中标价6.12亿元。该项目公司及 广西公司承担的施工任务约占公司2024年经审计营业收入的3.27%。 ...

证券代码：600853 证券简称：龙建股份 编号：2025-108 龙建路桥股份有限公司 关于回购注销部分限制性股票通知债权人的公告 1.债权人为法人的，需同时携带法人营业执照副本原件及复印件、 法定代表人身份证明文件；委托他人申报的，除上述文件外，还需携带 法定代表人授权委托书和代理人有效身份证的原件及复印件。 2.债权人为自然人的，需同时携带有效身份证的原件及复印件；委 托他人申报的，除上述文件外，还需携带授权委托书和代理人有效身份 证件的原件及复印件。 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、通知债权人原由 龙建路桥股份有限公司（以下简称公司）于 2025 年 12 月 9 日召开 第十届董事会第二十七次会议，并于 2025 年 12 月 25 日召开 2025 年第 四次临时股东会，审议通过了《关于回购注销 2021 年限制性股票激励 计划部分限制性股票的议案》。鉴于公司 2021 年限制性股票激励计划中 的 4 激励对象因工作调动离职、3 名激励对象退休而不再具备激励对象 资格，公司对其已获授但尚未 ...

龙建路桥股份有限公司 董事和高级管理人员所持本公司 股份及其变动管理制度 第一章 总则 第一条 为加强龙建路桥股份有限公司（以下简称公司）对 董事和高级管理人员持有及转让公司股份的管理工作，根据《中 华人民共和国公司法》（以下简称《公司法》）、《中华人民共 和国证券法》（以下简称《证券法》）、《上市公司董事和高级 管理人员所持本公司股份及其变动管理规则》（以下简称管理规 则）、《上海证券交易所上市公司自律监管指引第8号—股份变动 管理》《上海证券交易所上市公司自律监管指引第15号—股东及 董事、高级管理人员减持股份》等法律、行政法规、部门规章、 规范性文件等规定，结合公司实际情况，制定本制度。 第二条 公司董事和高级管理人员应遵守《公司法》《证券 法》和有关法律、行政法规，中国证券监督管理委员会（以下简 称中国证监会）规章、规范性文件以及上海证券交易所（以下简 称上交所）规则中关于股份变动的限制性规定。 公司董事和高级管理人员减持股份应当规范、理性、有序， 充分关注公司及中小股东的利益。 第三条 公司董事和高级管理人员所持本公司股份，是指登 记在其名下和利用他人账户持有的所有本公司股份。公司董事和 - 1 - ...