香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | 本報告期末 | 上年度末 | 上年度末增減（%） | | --- | --- | --- | --- | | 總資產 | 6,085,490.50 | 5,874,585.71 | 3.59 | | 歸屬於中材國際股東的所有者權益 | 2,215,758.44 | 2,111,540.89 | 4.94 | 公告 中材國際截至二零二五年九月三十日止九個月之 主要會計數據和財務指標 中國建材股份有限公司（「本公司」）董事會（「董事會」）謹請其股東及公眾投資者留意以下 中國中材國際工程股份有限公司（「中材國際」）截至二零二五年九月三十日止九個月之主 要會計數據和財務指標。 中材國際為本公司之附屬公司，其A股於上海證券交易所上市及買賣（股份代號： 600970）。 - 1 - 中材國際之主要會計數據及財務指標 單位：萬元 幣種：人民幣 年初至報告期末 | | | 本報告期比 | | 比上年同期增減 | ...

Core Viewpoint - As of October 23, 2025, Zhongcai International (600970) closed at 9.57 yuan, with a slight increase of 0.42%, indicating a stable performance in the market despite some fluctuations in fund flows [1][2]. Fund Flow Summary - On October 23, 2025, the net outflow of main funds was 16.037 million yuan, accounting for 6.23% of the total transaction amount, while retail investors saw a net inflow of 40.5864 million yuan, representing 15.76% of the total [1][2]. - Over the past five days, the stock experienced varying fund flows, with notable net outflows from both main and speculative funds on several days, while retail investors consistently showed net inflows [2]. Company Performance Metrics - Zhongcai International's total market capitalization is 25.091 billion yuan, ranking 12th in the engineering construction industry, with a net profit of 2.074 billion yuan, which is a 0.68% year-on-year increase [3]. - The company reported a main revenue of 32.998 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 3.99%, while the third quarter alone saw a revenue of 11.322 billion yuan, up 4.48% year-on-year [3]. - Key financial ratios include a price-to-earnings ratio of 9.07 and a return on equity (ROE) of 9.61%, indicating a relatively strong performance compared to industry averages [3]. Analyst Ratings - In the last 90 days, 13 institutions have rated Zhongcai International, with 12 buy ratings and 1 hold rating, suggesting a positive outlook among analysts [4]. - The average target price set by institutions over the past 90 days is 13.53 yuan, indicating potential upside from the current trading price [4].

Investment Rating - The industry rating is "Outperform the Market" (maintained rating) [5] Core Insights - Infrastructure investment showed weakness in September, but the fourth quarter may benefit from increased funding and policy catalysts. The report highlights the importance of infrastructure as a stabilizing measure for the economy, with a focus on undervalued, high-dividend construction stocks [1][2] - The real estate sector saw a decline in sales area by 5.5% year-on-year from January to September, with a significant drop of 21.3% in September alone. However, the completion rate for real estate projects turned positive for the first time since 2024, indicating a potential recovery [2] - Cement demand is gradually weakening, with a production drop of 5.2% year-on-year from January to September. The report suggests that cement companies may seek to optimize supply and increase prices to recover profitability [3] - The flat glass market showed signs of improvement in September, with a slight increase in demand. However, overall production still declined by 5.2% year-on-year, and inventory levels have risen significantly [4] Summary by Sections Infrastructure Investment - Infrastructure investment from January to September showed a year-on-year increase of 1.1%, but September alone saw a decline of 4.7%. The report anticipates a recovery in the fourth quarter due to early fiscal funding and new policy financial tools [1][2] Real Estate Sector - Real estate sales area decreased by 5.5% year-on-year from January to September, with a notable drop of 11.9% in September. New construction area fell by 18.9% year-on-year, while completion area saw a slight increase in September, marking the first positive growth since 2024 [2] Cement Industry - Cement production from January to September was 1.259 billion tons, down 5.2% year-on-year. The average shipment rate was 41.3%, a decrease of 2.6 percentage points year-on-year. The report indicates that cement companies are likely to push for price increases to enhance profitability [3] Glass Industry - Flat glass production from January to September was 72.881 million weight cases, down 5.2% year-on-year. The report notes a slight improvement in demand in September, but overall inventory levels have increased significantly, indicating potential challenges ahead [4]

Core Viewpoint - China National Materials International (600970.SH) announced a bond issuance with a registered amount not exceeding RMB 2 billion, aimed at optimizing its debt structure and reducing financing costs [1] Group 1: Bond Issuance Details - The bond issuance will be registered in one go and issued in phases as needed [1] - The funds raised will be used for daily operations and industrial development, including but not limited to repaying interest-bearing debts, supplementing working capital, and project construction [1] Group 2: Fund Utilization and Governance - The specific use of the raised funds will be authorized by the shareholders' meeting and further delegated to the board of directors, who will determine the actual needs [1] - The issuance is expected to promote the company's sustainable and healthy development [1]

Core Viewpoint - China National Materials International (600970.SH) reported a revenue of 11.322 billion yuan in the third quarter, reflecting a year-on-year growth of 4.48% while the net profit attributable to shareholders decreased by 1.18% to 653 million yuan [1] Financial Performance - The company achieved a revenue of 11.322 billion yuan in Q3, marking a 4.48% increase compared to the same period last year [1] - The net profit attributable to shareholders was 653 million yuan, showing a decline of 1.18% year-on-year [1] - The net profit excluding non-recurring gains and losses was 612 million yuan, which represents a decrease of 5.73% year-on-year [1] - Basic earnings per share stood at 0.25 yuan [1]

Core Viewpoint - China National Materials International (中材国际) reported a slight increase in revenue for Q3 2025, but a decline in net profit, indicating potential challenges in profitability despite revenue growth [1] Financial Performance - In Q3 2025, the company achieved revenue of 11.322 billion yuan, representing a year-on-year growth of 4.48% [1] - The net profit attributable to shareholders for Q3 2025 was 653 million yuan, showing a year-on-year decrease of 1.18% [1] - For the first three quarters of 2025, the company reported total revenue of 32.998 billion yuan, with a year-on-year increase of 3.99% [1] - The net profit attributable to shareholders for the first three quarters was 2.074 billion yuan, reflecting a year-on-year growth of 0.68% [1] Fundraising Activities - The company announced plans to publicly issue bonds to raise no more than 2 billion yuan, which will be used for daily operations and industrial development after deducting issuance costs [1]

中国中材国际工程股份有限公司（以下简称"公司"）于 2025 年 10 月 23 日召开第八届董事会第十九次会议，审议通过了《关于公司符合公开发行公司债 券条件的议案》《关于公司公开发行公司债券方案的议案》《关于提请股东会授权 公司董事会及相关人士全权办理公司公开发行公司债券及上市相关事宜的议案》。 本次公开发行公司债券事项尚需提交公司股东会审议。具体内容如下： 一、关于公司符合发行公司债券条件的说明 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》"）和《公司债券发行与交易管理办法》等有关法 律、法规规定，结合公司实际经营情况，公司对经营、财务状况及公开发行公司 债券相关事项进行了逐项自查，董事会认为公司符合现行法律、法规及规范性文 件关于上市公司公开发行公司债券的规定，具备公开发行公司债券的条件和资格。 证券代码：600970 证券简称：中材国际 公告编号：临 2025-066 债券代码：241560 债券简称：24 国工 K1 中国中材国际工程股份有限公司 关于公开发行公司债券预案的公告 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 ...

中国中材国际工程股份有限公司 董事会提名委员会工作细则 第一章 总则 第一条 为规范中国中材国际工程股份有限公司（以下简称"公 司"）董事及高级管理人员的选聘工作，优化董事会成员的组成，完 善公司治理结构，根据《中华人民共和国公司法》《上市公司治理准 则》《公司章程》及其他有关规定，公司特设立董事会提名委员会（以 下简称"提名委员会"），并制定本工作细则。 第二条 提名委员会是董事会下设立的专门机构，对董事会负责。 公司党委组织部（人力资源部）为委员会日常工作提供支持，董事会 办公室负责筹备提名委员会会议。 第二章 人员组成 第三条 提名委员会由三至五名董事组成，其中独立董事人数应 过半数。 第四条 提名委员会委员人选，由董事长、二分之一以上独立董 事或者全体董事的三分之一以上提名，并由董事会选举产生。 第五条 提名委员会设主任委员一名，由独立董事委员担任，负 责召集和主持提名委员会会议；提名委员会主任在提名委员会委员内 选举产生，并报请董事会批准。当提名委员会主任不能或无法履行职 责时，由其指定一名其他委员代行其职权；提名委员会主任既不履行 职责，也不指定其他委员代行其职责时，任何一名委员均可将有关情 1 ...

中国中材国际工程股份有限公司 信息披露暂缓与豁免事务管理制度 第一章 总则 第一条 为规范中国中材国际工程股份有限公司（以下简称"中 材国际"或"公司"）信息披露暂缓与豁免行为，保障公司依法合规 履行信息披露义务，维护公司和投资者的合法权益，根据《中华人民 共和国公司法》《中华人民共和国证券法》《上市公司信息披露管理办 法》《上海证券交易所股票上市规则》（以下简称"股票上市规则"）、 《上市公司信息披露暂缓与豁免管理规定》等有关法律法规和《中国 中材国际工程股份有限公司公司章程》《中国中材国际工程股份有限 公司信息披露管理制度》等有关规定，制定本制度。 第二条 公司按照股票上市规则及上海证券交易所其他相关业 务规则的规定，办理信息披露暂缓、豁免业务的，适用本制度。 第三条 对于应当披露的信息存在股票上市规则等规定的暂缓、 豁免情形的，公司应审慎判断和处理。公司接受上海证券交易所对信 息披露暂缓、豁免事项的事后监管。 第四条 公司和其他信息披露义务人有确实充分的证据证明拟 披露的信息涉及国家秘密或者其他因披露可能导致违反国家保密规 定、管理要求的事项（以下统称国家秘密），依法豁免披露。 第五条 公司和其他信息披 ...

中国中材国际工程股份有限公司 关联交易管理制度 第一章 总则 （二）由上述第（一）项法人（或者其他组织）直接或者间接控 制的除公司、控股子公司及控制的其他主体以外的法人（或者其他组 织）； 1 第二条 本制度适用于公司关联交易的决策和管理，对公司股东、 董事均具有约束力，公司从事与本制度相关的活动，必须遵守本制度。 第二章 关联人和关联关系 第三条 公司关联人包括关联法人（或者其他组织）和关联自然 人。 第四条 具有下列情形之一的法人，为公司的关联法人（或者其 他组织）： （一）直接或者间接控制公司的法人（或者其他组织）； （三）由第五条所列公司的关联自然人直接或者间接控制的，或 者由关联自然人担任董事（不含同为双方的独立董事）、高级管理人 员的除公司、控股子公司及控制的其他主体以外的法人（或者其他组 织）； （四）持有公司 5%以上股份的法人（或者其他组织）及其一致 行动人； （五）中国证监会、上海证券交易所及公司根据实质重于形式的 原则认定的其他与公司有特殊关系，可能或者已经造成公司利益对其 倾斜的法人（或者其他组织）。 公司与第（二）项所列法人（或者其他组织）受同一国有资产管 理机构控制而形成该项所述情 ...