证券代码：600970 证券简称：中材国际 公告编号：2025-038 中国中材国际工程股份有限公司 关于召开2025年第二次临时股东大会的通知 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： 一、 召开会议的基本情况 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 6 月 16 日 14 点 30 分 召开地点：北京市朝阳区望京北路 16 号中材国际大厦公司会议室 股东大会召开日期：2025年6月16日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (一)股东大会类型和届次 2025年第二次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 6 月 16 日 至2025 年 6 月 16 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开 ...

中国中材国际工程股份有限公司 第八届监事会第十二次会议决议公告 本公司监事会及全体监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"）第八届监事会第十二 次会议于 2025 年 5 月 23 日以书面形式发出会议通知，2025 年 5 月 29 日 以现场结合通讯方式召开，出席会议的监事应到 3 人，实到 3 人，符合《公司法》 和《公司章程》的有关规定。会议由于月华女士主持，与会监事经过认真审议， 形成如下决议： 一、审议《关于为关联参股公司中材水泥所属企业提供担保暨关联交易的议 案》，同意将本议案提请公司 2025 年第二次临时股东大会审议。 | 证券代码：600970 | 证券简称：中材国际 | | 公告编号：临 2025-037 | | --- | --- | --- | --- | | 债券代码：241560 | 债券简称：24 | 国工 K1 | | 表决结果：1 票同意，0 票反对，0 票弃权，关联监事于月华、堵光媛回避 表决，本议案直接提交公司股东大会审议。 特此公告。 中国中材国际工 ...

关联董事印志松、朱兵、王益民、刘习德、蔡军恒回避表决。 表决结果：3票同意，0票反对，0票弃权。 证券代码：600970 证券简称：中材国际 公告编号：临 2025-034 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 第八届董事会第十六次会议（临时）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。 中国中材国际工程股份有限公司（以下简称"公司"）第八届董事会第十六 次会议（临时）于2025年5月23日以书面形式发出会议通知，2025年5月29日以现 场结合通讯方式召开。本次会议应到董事8人，实到董事8人，公司全体监事和部 分高管列席会议，符合《公司法》和《公司章程》的有关规定。会议由董事长印 志松先生主持，与会董事经过认真审议，经记名投票表决，形成如下决议： 一、审议通过了《关于为关联参股公司中材水泥所属企业提供担保暨关联交 易的议案》，同意将本议案提请公司2025年第二次临时股东大会审议。 该议案已经第八届董事会独立董事专门会议2025年第二次会议、第八届董事 会审计与风险管理委 ...

中国中材国际工程股份有限公司 融资管理办法 （2025 年修订稿） 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 "）融资管理，优化债务结构，降低资金成本，防范债务风险，根据国 家法律法规及《公司章程》、三会议事规则等公司有关规定，结合本公 司实际情况，制定本办法。 第二条 本办法所称融资包括外部融资及内部借款。外部融资包括 银行借款、非银行金融机构借款、融资租赁、各类债券及视同带息负债 管理的权益类融资。内部借款指公司及下属公司之间的借款。 第三条 本办法适用于公司及合并报表范围内的全级次分、子公 司（以下简称"下属公司"）。各下属公司可以本办法为基础，结合实 际情况，制定融资管理实施细则。 第四条 本办法所称境外融资包括境外金融机构融资和境外发行 债券等。 第二章 融资管理职责 第五条 公司总部主要职责 （一）根据国家有关法律法规和公司经营发展战略，制定公司融资 管理政策及规章制度，统筹融资管理工作； （二）受理下属公司融资计划报告，统筹规划和平衡内外部融资， 拟定年度融资计划，并在经董事会或股东大会审议批准的额度及范围内 ，履行内部审批程序； 1 （三）负责监督检查融资计划执 ...

1. Report Industry Investment Rating - Most of the covered companies have investment ratings such as "Buy" and "Add", including China National Building Material Co., Ltd., China National Steel & Machinery Corporation, etc. [21][24] 2. Core Viewpoints - Suggest paying attention to investment opportunities related to the Belt and Road Initiative, including four major international engineering companies and companies like Shanghai Harbor and Keda Manufacturing. [3][18] - Although the real - estate market is on the path of stabilizing after a series of policies since the December 2024 Politburo meeting, it still needs to be consolidated in April, and continuous policy support is expected. [3] - Currently, it is recommended to focus on companies such as Honglu Steel Structure, China Jushi, etc., due to factors like improved foreign trade environment, expected increase in downstream demand, and product price increases. [3] 3. Summary by Directory 3.1 Week - Special Topic: Focus on Belt and Road - Related Investment Opportunities - The Belt and Road Initiative aims to achieve infrastructure connectivity and sustainable development among countries along the routes. After more than a decade of construction, the infrastructure connectivity among countries along the routes has taken shape, with significant growth in railway transportation and an increase in the proportion of trade with BRI countries in China's total foreign trade. [3][5][8] - Investment opportunities related to the Belt and Road Initiative are suggested, including four major international engineering companies (Northern International, Sinomach, Sinoma International, and Sino - steel International) and companies like Shanghai Harbor and Keda Manufacturing. [3][18] 3.2 Profit Forecasts and Valuations of Main Covered Companies - The report provides profit forecasts and valuations for multiple companies from 2024 to 2027, including EPS, PE, PB, etc., and gives investment ratings such as "Buy" and "Add". [21][24] 3.3 Weekly Market Review - In the weekly market, the building and building materials industries showed different degrees of decline. Among them, the building index and building materials index both decreased, and different sub - sectors also had varying performance. [28][30][32] - Infrastructure public REITs also had different price fluctuations, with an average weekly increase of 1.73%, a monthly increase of 4.23%, and significant increases in the year - to - date and since IPO. [36][37] 3.4 Aggregate Data Tracking - In the real - estate market, data on new construction, construction, completion, and sales areas showed different trends. In addition, data on land transactions, real - estate transactions, social financing, and infrastructure investment are also provided. [39][48][58] - The new - signed contract data of eight major construction central enterprises from 2022Q1 to 2025Q1 are presented, showing different growth rates in different quarters. [87] 3.5 High - Frequency Data Tracking - High - frequency data on various building materials such as cement, glass, photovoltaic glass, fiberglass, carbon fiber, and magnesium sand are provided, including price, production, inventory, etc. [99][102][110] - Data on upstream raw material prices and physical workloads are also included, such as waste paper, PVC, HDPE prices, and high - altitude machine rental rates, excavator working hours, etc. [148][156]

Investment Rating - The report maintains an "Overweight" rating for the construction and decoration industry [1] Core Views - Infrastructure investment remains stable, with a focus on water conservancy and cleanroom engineering sectors [1] - The first four months of 2025 saw a 5.8% year-on-year increase in infrastructure investment, with notable growth in water management (30.7%), water transportation (26.9%), and air transportation (13.9%) [10][15] - The report highlights the resilience of the economy despite external pressures, with construction material retail sales showing a significant increase of 9.7% in April [15] Summary by Sections Industry Dynamics - The report notes that the overseas contracting business is expected to benefit from the Belt and Road Initiative, with new contract amounts reaching $76.59 billion, a 22.4% year-on-year increase [2][11] - Companies involved in specialized engineering sectors, energy conservation, and new energy infrastructure are anticipated to see growth opportunities [11] Market Performance - The construction and decoration sector experienced a decline of 0.97% in the week of May 19-23, 2025, while the broader market indices showed smaller declines [5] - The report suggests that the performance of construction companies remains stable, with a focus on state-owned enterprises and local government enterprises for potential valuation recovery [10] Policy and Economic Data - The report emphasizes the importance of proactive macroeconomic policies to support infrastructure investment, with expectations for increased fiscal policy support in the second quarter [10][15] - The construction PMI showed a decline, indicating weaker project expectations, which necessitates close monitoring of funding and policy impacts [10]

Group 1 - The stock price of China National Materials International (中材国际) closed at 9.13 yuan on May 23, 2025, down 1.72% from the previous week’s 9.29 yuan [1] - The highest intraday price reached 9.39 yuan on May 21, while the lowest was 9.11 yuan on May 23 [1] - The current total market capitalization of the company is 24.103 billion yuan, ranking 3rd out of 39 in the professional engineering sector and 616th out of 5148 in the A-share market [1] Group 2 - The company announced an adjustment to the cash dividend distribution for the fiscal year 2024, reducing the total amount to 1,187,981,113.50 yuan (including tax) [1] - Originally, the plan was to distribute a cash dividend of 4.50 yuan (including tax) per 10 shares based on a total share capital of 2,642,021,768 shares, amounting to 1,188,909,795.60 yuan (including tax) [1] - Following the completion of the first phase of the restricted stock incentive plan on May 19, 2025, the total share capital decreased by 2,063,738 shares, leading to a new total of 2,639,958,030 shares and an adjusted cash dividend distribution amount [1] - The adjusted cash dividend represents 39.82% of the net profit attributable to shareholders of the listed company in the consolidated financial statements for the period [1]

创新智能新应用 当前，我国水泥行业正处于转型调整中。面对需求不足、产能过剩、竞争加剧的重重挑战，不少水泥企 业积极转变发展路径，加码布局海外、加速向新向绿发力，努力开拓发展空间。 绿色转型促节能 轻点触控面板，位于安徽省合肥市的中国建材装备集团有限公司高端装备智造园园区三维模型跃然眼 前，从能源流向到设备状态，从物流调度到碳排放数据，每一处细节都被精确展现。 安全监管平台通过实时数据采集与分析，可精准定位安全薄弱环节；车间视觉管控系统可敏锐捕捉物品 异常与人员不安全行为，为生产筑牢安全防线；能源与"双碳"管理平台，可对水、电、气等能源进行全 流程实时管控，记录碳排放轨迹……该高端装备智造园"双碳"管理平台不仅能清晰记录园区内的碳排放 足迹，还能精准找到供应链中的"高碳环节"，带着上下游企业一起"减碳瘦身"。"我们运用了数字孪生 技术，不仅助力内部高效管理，还让客户得以远程实时跟踪订单进度，增强合作透明度与信任度。"中 国建材装备集团工作人员武慧敏说。 当前，水泥企业除了要通过供给端精准调控，减少供应量，有效稳定市场，还需苦练内功，加快转型升 级，努力向产业链价值链中高端攀升。 "全球水泥工业正处在一个新的发展 ...

Investment Rating - The report maintains a "Positive" investment rating for the construction and engineering industry [11]. Core Insights - The report highlights fluctuations in infrastructure investment growth and emphasizes the importance of subsequent funding implementation [2]. - Fixed investment growth is declining, with a drop in the PMI for both manufacturing and construction sectors [6][19]. - The construction sector is experiencing pressure on orders, with a notable decline in new orders and employment indices [6][39]. Summary by Sections Investment & Orders - In April, the manufacturing PMI fell below 50, and the construction PMI also decreased, with new orders and employment indices at 39.6% and 37.8% respectively. The construction PMI was 51.9%, down 4.4 percentage points year-on-year and 1.5 percentage points month-on-month [6][19]. - Fixed asset investment from January to April reached CNY 14.7 trillion, a year-on-year increase of 4.0%, with narrow infrastructure investment at CNY 4.9 trillion, up 5.8% year-on-year [22][23]. Physical Workload - Cement output has shown a year-on-year decline, while demand for cement in infrastructure remains relatively stable. From January to April, cement production decreased by 2.8% year-on-year [8][30]. Project Funding - The funding availability rate for construction projects is stable, with a slight improvement in housing construction. As of May 13, the funding availability rate was 59.1%, with non-housing projects at 60.65% and housing projects at 51.33% [9][30]. - The issuance of special bonds has accelerated, with a total of CNY 13.68 trillion issued year-to-date, which is CNY 5.12 trillion more than the previous year [9][30].

Group 1 - The core viewpoint of the articles highlights that China National Materials International Engineering Co., Ltd. (中材国际) is currently undervalued in the engineering construction industry, with a rolling PE ratio of 8.09, significantly lower than the industry average of 13.28 and median of 20.54 [1][2] - As of the first quarter of 2025, the company reported a revenue of 10.147 billion yuan, a year-on-year decrease of 1.37%, while net profit reached 663 million yuan, reflecting a year-on-year increase of 4.19% [1] - The company has a total market capitalization of 24.34 billion yuan and ranks 30th in the industry based on PE ratio [1][2] Group 2 - The company operates in various sectors including engineering technology services, high-end equipment manufacturing, and production operation services, with key products such as cement, mining engineering, and various specialized equipment [1] - As of the latest report, 20 institutions hold shares in the company, including 14 funds, with a total holding of 1.7216515 billion shares valued at 16.493 billion yuan [1] - The company has established five national-level "specialized and innovative" small giant enterprises and twelve provincial-level "specialized and innovative" enterprises [1]