Key Points - Antai Group's stock price deviates from its fundamentals, indicating risks of market sentiment overheating and irrational speculation [1] - Huatai plans to invest in a carbon dioxide comprehensive utilization project with an annual production capacity of 120,000 tons of amino resin [1] - Guizhou Moutai intends to repurchase shares worth between 1.5 billion to 3 billion yuan [2] - Jindi Group's cumulative signed amount from January to October is 26.1 billion yuan, a year-on-year decrease of 55.33% [2] - Ningbo Port expects to complete a cargo throughput of 99.6 million tons in October, a year-on-year increase of 5.3% [2] - Kaimeite Gas plans to reduce its shareholding by no more than 3% [3] - Hualan Co., Ltd. intends to increase its stock holdings by 30 million to 60 million yuan [3] - Haoneng Co., Ltd. plans to issue convertible bonds to raise no more than 1.8 billion yuan for core components of intelligent manufacturing projects [3]

Core Viewpoint - Chongqing Construction announced an investment increase from its wholly-owned subsidiary and its second-largest shareholder into a project company for highway construction, indicating a strategic move to expand its project portfolio and enhance operational capacity [1] Investment Details - The wholly-owned subsidiary, Chongqing Construction First Municipal Engineering Co., Ltd., will invest approximately 58.49 million RMB, while the second-largest shareholder, Chongqing Expressway Group Co., Ltd., will invest about 508.70 million RMB [1] - The total construction contract for the Kaizhou to Liangping highway project is approved to not exceed 1.1 billion RMB, with a preliminary contract price set at 1.01842 billion RMB [1] Contractual Agreements - A construction general contracting framework agreement has been signed, and further details regarding rights and obligations have been refined in the signed construction contract for the specified project segment [1]

重庆建工集团股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 13 日（星期四）至 11 月 19 日（星期三） 16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公 司邮箱 zqb@cceg.cn 进行提问。公司将在说明会上对投资者普遍关注 的问题进行回答。 重庆建工集团股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深 入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 20 日 （星期四） 11:00-12:00 举行 2025 年第三季度业绩说 明会，就投资者关心的问题进行交流。 | 证券代码：600939 | 证券简称：重庆建工 | 公告编号：临 2025-103 | | --- | --- | --- | | 转债代码：110064 | 转债简称：建工转债 | | | 债券代码：254104 | 债券简称：24 渝建 01 | | 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 ...

（一）签约合同价（含税）：暂定为 101,842.00 万元 （二）主要施工内容：起讫桩号暂定为 K32+200 至 K43+770， 全长约 11.77 公里，公路等级为高速公路，设计时速为 100km/h。承 包人负责该工程范围的临时工程、路基工程、桥梁涵洞工程、交叉工 程、隧道工程、养护工区场平及防护、服务区场平及防护、公路设施 | 证券代码：600939 | 证券简称：重庆建工 | | 公告编号：临 2025-104 | | --- | --- | --- | --- | | 转债代码：110064 | 转债简称：建工转债 | | | | 债券代码：254104 | | | | | | 债券简称：24 | 渝建 01 | | 重庆建工集团股份有限公司 关于全资子公司签署建设工程施工合同 暨关联交易的进展公告 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。 为推动主营业务发展，保障在建高速公路项目继续顺利实施，重 庆建工集团股份有限公司（以下简称"公司"）之全资子公司重庆建工 第一市政工程有限责任公司（以下简称"市 ...

近日，市政一公司与发包人就上述协议的权利义务进一步细化，并签署了《开州至梁平高速公路施工合 同(合同段：KWLTJB)》，签约合同价(含税)暂定为10.18亿元。 格隆汇11月5日丨重庆建工(600939.SH)公布，为推动主营业务发展，保障在建高速公路项目继续顺利实 施，公司之全资子公司重庆建工第一市政工程有限责任公司(简称"市政一公司")和公司第二大股东重庆 高速公路集团有限公司(简称"重庆高速集团")向其控股项目公司重庆开万梁高速公路有限公司(简称"开 万梁公司")拟分别增加投资约5,849.43万元(币种人民币，下同)和5.09亿元。经公司2024年第四次临时股 东大会审议，同意市政一公司与发包人开万梁公司新签署总价不超过11亿元建设工程施工承包合同，以 增加承建开州至梁平高速公路项目份额。后双方签署了施工总承包框架协议，暂定签约合同价10.18亿 元。 ...

Core Viewpoint - Chongqing Construction (600939.SH) is increasing investments in its subsidiary and a joint project to ensure the smooth implementation of ongoing highway projects, specifically the Kaizhou to Liangping expressway project [1] Investment Details - Chongqing Construction's wholly-owned subsidiary, Chongqing First Municipal Engineering Co., Ltd. (referred to as "Municipal Company 1"), and its second-largest shareholder, Chongqing Expressway Group Co., Ltd. (referred to as "Chongqing Expressway Group"), plan to invest approximately 58.49 million yuan and 509 million yuan, respectively, into their controlled project company, Chongqing Kaiwanliang Expressway Co., Ltd. (referred to as "Kaiwanliang Company") [1] - The company has received approval from its 2024 fourth extraordinary general meeting of shareholders to sign a construction contract with Kaiwanliang Company for a total price not exceeding 1.1 billion yuan, aimed at increasing the share of the Kaizhou to Liangping expressway project [1] Contractual Agreements - A construction general contracting framework agreement has been signed between the two parties, with a tentative contract price of 1.018 billion yuan [1] - Recently, Municipal Company 1 and the contracting party further detailed the rights and obligations under the agreement and signed the "Kaizhou to Liangping Expressway Construction Contract (Contract Section: KWLTJB)," with a signed contract price (including tax) tentatively set at 1.018 billion yuan [1]

Group 1 - The housing construction sector experienced a decline of 0.22% on November 4, with high-tech development leading the drop [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] - Major stocks in the housing construction sector showed mixed performance, with Zhejiang Construction rising by 0.32% and High-Tech Development falling by 3.15% [1] Group 2 - The net outflow of main funds in the housing construction sector was 250 million yuan, while retail funds saw a net inflow of 123 million yuan [1] - The table of fund flows indicates that China State Construction had a net inflow of 19.29 million yuan from main funds, while High-Tech Development faced a significant outflow of 85.87 million yuan [2] - Retail investors showed a preference for stocks like High-Tech Development, which had a net inflow of 52.04 million yuan despite the overall negative trend [2]

Core Insights - The Chongqing state-owned enterprise reform sector saw a rise of 0.52% on October 31, with Qianli Technology leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance Summary - Qianli Technology (601777) closed at 11.91, up 2.67%, with a trading volume of 466,600 shares and a transaction value of 553 million [1] - Yushanxia A (000565) closed at 8.16, up 1.87%, with a trading volume of 105,200 shares and a transaction value of 86.01 million [1] - ST Huicheng (002168) closed at 4.08, up 1.75%, with a trading volume of 57,300 shares and a transaction value of 23.44 million [1] - Other notable stocks include Yukaifang (000514) at 5.23 (+1.16%), Chuan Yi Co. (603100) at 23.34 (+0.78%), and Jieling Pickles (002507) at 13.12 (+0.69%) [1] Capital Flow Analysis - The Chongqing state-owned enterprise reform sector experienced a net inflow of 26.71 million from institutional investors, while retail investors saw a net inflow of 11.87 million [2] - However, speculative funds recorded a net outflow of 38.58 million [2] Individual Stock Capital Flow - Qianli Technology (601777) had a net inflow of 35.02 million from institutional investors, while it faced a net outflow of 13.45 million from speculative funds [3] - Chuan Yi Co. (603100) saw a net inflow of 14.05 million from institutional investors, with a net outflow of 8.75 million from speculative funds [3] - Sanfeng Environment (601827) had a net inflow of 13.99 million from institutional investors, but a net outflow of 14.78 million from retail investors [3]

Core Viewpoint - Chongqing Construction (600939.SH) reported a decline in revenue and a significant net loss for the third quarter of 2025, indicating financial challenges for the company [1] Financial Performance - The company's operating revenue for the third quarter was 4.057 billion, representing a year-on-year decrease of 10.55% [1] - The net profit attributable to shareholders was -376 million, indicating a loss [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -399 million [1]

本报告依据中国资产评估准则编制 重庆建工集团股份有限公司拟股权转让涉及的 重庆建工第十二建设有限责任公司股东全部权益价值 资产评估报告 京信评报字 (2025) 第 601 号 中京民信 (北京) 资产评估有限公司 二〇二五年十月三十日 中国资产评估协会 资产评估业务报告备案回执 | 报告编码: | 1142020031202500677 | | | | --- | --- | --- | --- | | 合同编号: | HBBM2025-136 | | | | 报告类型: | 法定评估业务资产评估报告 | | | | 报告文号: | 京信评报字(2025)第601号 | | | | 报告名称: | 重庆建工集团股份有限公司拟股权转让涉及的 重庆建工第十二建 | | | | | 设有限责任公司股东全部权益价值 资产评估报告 | | | | 评估结论: | 54,757,461.44元 | | | | 评估报告日: | 2025年10月30日 | | | | 评估机构名称: | 中京民信(北京)资产评估有限公司 | | | | 签名人员: | 周洪 (资产评估师) | | 正式会员 编号:50190045 | ...