重要内容提示： ● 投资者可于2025年10月20日（星期一）至10月24日（星期五）16:00前登录上证路演中心网站首页点 击"提问预征集"栏目或通过公告中的联系电话、邮箱进行提问。公司将在说明会上对投资者普遍关注的 问题进行回答。 中国中材国际工程股份有限公司（以下简称"公司"）将于2025年10月24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 10月27日（星期一）上午9:00-10:00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。 一、说明会类型 登录新浪财经APP 搜索【信披】查看更多考评等级 ■ 中国中材国际工程股份有限公司 关于召开2025年第三季度业绩说明会的公告 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法律责任。 （一）投资者可在2025年10月27日（星期一）上午9:00-10:00，登录上证路演中心 （http://roadshow.sseinfo.com/），在线参与本次业绩说明会，公司将及时回答投资者 ...

| 证券代码：600970 | 证券简称：中材国际 | 公告编号：临2025-064 | | --- | --- | --- | | 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 关于召开2025年第三季度业绩说明会的公告 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法律责任。 重要内容提示： 中国中材国际工程股份有限公司（以下简称"公司"）将于2025年10月24 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10月27日（星期一） 上午9:00-10:00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。 一、说明会类型 本次业绩说明会以网络互动的形式召开，公司将针对2025年第三季度经营 成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范 围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 1 会议召开时间：2025年10月27日（星期一）上午9:00-1 ...

Core Viewpoint - As of October 15, 2025, Zhongcai International (600970) closed at 9.33 yuan, with a trading volume of 311,000 hands and a total transaction amount of 291 million yuan, indicating a stable performance in the market [1] Group 1: Financial Performance - Zhongcai International reported a main revenue of 21.676 billion yuan for the first half of 2025, a year-on-year increase of 3.74% [3] - The net profit attributable to shareholders was 1.421 billion yuan, up 1.56% year-on-year, while the non-recurring net profit decreased by 11.6% to 1.239 billion yuan [3] - The company's second-quarter revenue was 11.529 billion yuan, reflecting an 8.69% year-on-year increase, but the net profit for the quarter slightly decreased by 0.65% to 758 million yuan [3] Group 2: Market Activity - On October 15, 2025, the net outflow of main funds was 36.0598 million yuan, accounting for 12.38% of the total transaction amount, while retail investors saw a net inflow of 33.8371 million yuan, representing 11.62% of the total [1][2] - Over the past five days, the stock has experienced fluctuations in fund flows, with significant net outflows from main funds on several days, indicating varying investor sentiment [2] Group 3: Company Metrics and Industry Comparison - Zhongcai International's total market value is 24.462 billion yuan, with a net asset value of 23.239 billion yuan, ranking 12th and 16th respectively in the engineering construction industry [3] - The company has a price-to-earnings ratio of 8.61 and a price-to-book ratio of 1.14, both of which are favorable compared to the industry averages [3] - The gross profit margin stands at 16.72%, and the net profit margin is 7.09%, indicating a strong operational performance relative to industry peers [3]

Core Insights - The article highlights the top-performing stocks in the S&P China A-Share Dividend Opportunity Index, showcasing significant daily and year-to-date gains along with dividend yields [1]. Group 1: Stock Performance - The top stock, 中江海能 (600026.SH), experienced a daily increase of 4.50% and a year-to-date increase of 12.39%, with a dividend yield of 3.37% [1]. - 渝农商行 (601077.SH) saw a daily rise of 4.16% and a year-to-date rise of 17.11%, offering a dividend yield of 4.51% [1]. - 南京银行 (601009.SH) reported a daily increase of 3.79% and a year-to-date increase of 7.13%, with a dividend yield of 4.36% [1]. Group 2: Additional Notable Stocks - 新澳股份 (6038888 CH) had a daily gain of 3.35% and a year-to-date gain of 20.30%, with a dividend yield of 3.74% [1]. - 岱美股份 (603730.SH) increased by 2.86% daily and 3.26% year-to-date, with a dividend yield of 3.94% [1]. - 上海银行 (601229.SH) saw a daily rise of 2.83% and a year-to-date rise of 5.45%, with a dividend yield of 5.29% [1].

Core Insights - The professional engineering sector saw a slight increase of 0.3% on October 13, with Shanghai Port leading the gains [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Stock Performance - Notable gainers in the professional engineering sector included: - Yibanshi (605598) with a closing price of 29.32, up 10.02% on a trading volume of 126,200 shares and a turnover of 361 million yuan [1] - Baili Technology (6565609) closed at 6.72, up 2.60% with a trading volume of 361,800 shares and a turnover of 239 million yuan [1] - Zhitexin Materials (300986) closed at 11.72, up 2.00% with a trading volume of 128,600 shares and a turnover of 148 million yuan [1] - Conversely, some stocks experienced declines: - Shenghui Integration (603163) closed at 43.40, down 4.41% with a trading volume of 21,300 shares and a turnover of approximately 92.48 million yuan [2] - Suante Co. (603098) closed at 14.00, down 3.45% with a trading volume of 84,300 shares and a turnover of approximately 118 million yuan [2] - Jinggong Steel Structure (600496) closed at 3.70, down 3.14% with a trading volume of 384,500 shares and a turnover of approximately 142 million yuan [2] Capital Flow - The professional engineering sector experienced a net inflow of 138 million yuan from institutional investors, while retail investors saw a net inflow of approximately 58.33 million yuan [2][3] - Notable net inflows from institutional investors included: - China Metallurgical Group (601618) with a net inflow of approximately 22.3 million yuan [3] - Shanghai Port (605598) with a net inflow of approximately 71.08 million yuan [3] - Conversely, some stocks faced net outflows from retail investors, such as: - North International (000065) with a net outflow of approximately 13.68 million yuan [3] - Southeast Network Frame (002135) with a net outflow of approximately 6.22 million yuan [3]

Investment Rating - The report gives an "Overweight" rating for the construction and decoration industry, indicating a positive outlook compared to the overall market performance [2][9]. Core Insights - The construction industry is experiencing a slowdown in investment, leading to pressure on corporate profits. Despite this, infrastructure investment remains stable, acting as a stabilizing force in the overall economy [3][4]. - The report highlights that companies with a net profit growth rate below -10% include China Railway, China Metallurgical Group, and others, while those with growth rates above 20% include Jianfa Hecheng and Zhi Te New Materials [3][4]. - The report suggests that weak investment could lead to a valuation recovery for central state-owned enterprises in the construction sector, as current valuations are low with a PE ratio of 12.4X and a PB ratio of 0.82X as of October 10, 2025 [3][4]. Summary by Sections Investment Trends - Fixed asset investment growth has slowed, with infrastructure investment showing a year-on-year increase of 5.4% for the first eight months of 2025. The report notes that while manufacturing and real estate are under pressure, infrastructure investment remains relatively stable [3][4]. Profit Forecasts - The report provides a forecast for net profit growth rates for key companies in the industry, categorizing them into various growth ranges, with several companies expected to face profit pressures in 2025 [4]. Valuation Analysis - The report includes a valuation table for key companies in the construction industry, indicating their earnings per share (EPS), PE ratios, and projected net profit growth rates for 2024 to 2026. For instance, China Railway is projected to have a net profit decline of 17% in 2025, while Jianfa Hecheng is expected to see a significant increase of 45% [4].

Core Insights - The report highlights the current trends in the non-metallic building materials sector, including price changes, inventory levels, and production rates across various materials [1][4][5]. Group 1: Price Trends and Market Performance - The national average price for high-standard cement is 349 RMB/ton, down 53 RMB/ton year-on-year and down 2 RMB/ton month-on-month, with an average shipment rate of 44.5%, a decrease of 1.9 percentage points from the previous month [1][4]. - The average price of float glass is 1289.81 RMB/ton, which represents an increase of 65.07 RMB/ton or 5.31% month-on-month [1][4]. - The average price for 2.0mm coated panels remains stable at around 13 RMB/square meter [1][4]. Group 2: Inventory and Production Metrics - The inventory days for key monitored provinces in the glass production sector are approximately 24.8 days, a decrease of 1.38 days from the previous week [1][4]. - The concrete mixing station's capacity utilization rate is reported at 7.48%, down 0.19 percentage points month-on-month [4]. - The average price for domestic 2400tex alkali-free winding direct yarn is 3524.75 RMB/ton, remaining stable, while the mainstream price for electronic cloth is between 4.3-4.5 RMB/m, reflecting a 6% increase [4]. Group 3: Company Developments and Recommendations - China National Materials Technology announced plans to raise no more than 4.48 billion RMB for projects related to low dielectric fiber cloth production and to repay government funds [6]. - Huaxin Cement plans to grant 257,800 restricted stocks to 11 incentive targets and intends to repurchase shares worth between 32.25 million and 64.5 million RMB, with a maximum repurchase price of 25 RMB/share [6]. - The report continues to recommend investment in African building materials, fiberglass, and electrolytic aluminum sectors, highlighting companies like Keda Manufacturing and Huaxin Cement as key players in international competition [2].

Core Viewpoint - China National Materials International Engineering Co., Ltd. (中材国际) shows positive growth in new contract signings and overall financial performance, indicating a strong position in the engineering sector [1][3]. Group 1: Financial Performance - As of October 10, 2025, the stock price of China National Materials International closed at 9.12 yuan, up 2.13% from the previous week [1]. - The total market capitalization is 23.911 billion yuan, ranking 4th in the professional engineering sector and 801st among all A-shares [1]. Group 2: Contract Signings - In Q3 2025 (July-September), the total new contracts signed amounted to 1,871.81 million yuan, representing a year-on-year increase of 19% [1][3]. - For the first nine months of 2025, cumulative new contracts reached 5,988.23 million yuan, showing a year-on-year growth of 13% [1][3]. - The company experienced a decline in domestic new contracts by 18%, while overseas contracts increased by 37% [1]. Group 3: Operational Metrics - The uncompleted contract amount as of the reporting period was 6,685.62 million yuan, which is a 7.77% increase from the previous reporting period [1][3]. - The cement operation services saw a year-on-year decline of 13%, while mining operation services decreased by 1% [1].

证券代码：600970 证券简称：中材国际公告编号：临2025-063 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 一、新签合同情况 单位：万元 币种：人民币 ■■ 注：水泥运维服务合同和矿山运维服务合同的计算方式一致，按照年服务费计算。目前在手水泥运维服 务和矿山运维服务的平均服务期均约为5年。 2025年第三季度主要经营数据公告 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。 中国中材国际工程股份有限公司（以下简称"公司"） 2025年第三季度主要经营情况公布如下： 披露日期：2018年12月6日 项目业主：中非水泥有限公司 二、未完合同情况 截至报告期末，公司未完合同额为6,685,616.03万元，较上一报告期末增长7.77%。 注："未完合同额"指有效合同的结转额，即在手所有合同的结转额减去已签订未执行及停缓建合同的结 转额。 三、已签订尚未执行的重大项目进展情况 赞比亚中非水泥有限公司日产5000吨熟料生产线及配套工程项目 合同金额：4.8亿美元 进展情况：融资工作仍在推进，尚未进 ...

单位：万元 币种：人民币 | 证券代码：600970 | 证券简称：中材国际 | | 公告编号：临 2025-063 | | --- | --- | --- | --- | | 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 2025 年第三季度主要经营数据公告 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。 中国中材国际工程股份有限公司（以下简称"公司"） 2025 年第三季度主 要经营情况公布如下： 一、新签合同情况 | 合同类型 | 年 2025 7-9 | 月 | 年 2025 | 月 1-9 | | --- | --- | --- | --- | --- | | | 新签合同金额 | 同比增减 | 新签合同金额 | 同比增减 | | 1. 分产品 | | | | | | 工程技术服务 | 1,121,441.92 | 18% | 3,888,658.47 | 16% | | 高端装备制造 | 230,975.92 | 41% | 722,313.27 | 45% | ...