Core Viewpoint - The news highlights the performance and potential of state-owned enterprises (SOEs) in China, particularly in the context of ongoing reforms and the integration of artificial intelligence in operations, which may enhance their competitiveness and market performance [2][4]. Group 1: ETF Performance - As of April 29, 2025, the National Enterprise Win-Win ETF (159719) decreased by 0.47%, with a latest price of 1.48 yuan. Over the past week, it has seen a cumulative increase of 0.54% [1]. - The National Enterprise Win-Win ETF had a turnover of 1.2% during the trading session, with a transaction volume of 2.3576 million yuan. The average daily transaction volume over the past year was 17.9394 million yuan [1]. - The Greater Bay Area ETF (512970) increased by 0.43%, with a latest price of 1.16 yuan. Over the past year, it has accumulated a rise of 13.72% [4]. Group 2: Index and Component Stocks - The National Enterprise Win-Win ETF closely tracks the FTSE China National Enterprise Open Win-Win Index, which consists of 100 constituent stocks, including 80 A-share companies and 20 Chinese companies listed in Hong Kong. The top ten constituent stocks are predominantly "China National" stocks [4][6]. - The top ten stocks in the index include China Petroleum, China Petrochemical, China Construction, and China Mobile, with respective weightings of 15.58%, 12.33%, and 8.89% [6]. - The Greater Bay Area Development Theme Index (931000) saw a slight increase of 0.06%, with notable performers including Keda Manufacturing and Weigao Medical, which rose by 6.95% and 4.54%, respectively [4]. Group 3: Policy and Market Outlook - The State-owned Assets Supervision and Administration Commission (SASAC) is actively promoting the "AI+" initiative, focusing on integrating artificial intelligence into enterprise operations to enhance efficiency [1]. - According to Galaxy Securities, SOEs are expected to play a crucial role in China's modernization process, with ongoing reforms aimed at improving core competitiveness and operational efficiency [2]. - The market-oriented operational mechanisms of SOEs are being refined, with plans to implement performance adjustments and exit strategies for underperforming entities by 2025, which may lead to improved profitability [2].

Core Viewpoint - The project initiated by China Railway Construction Corporation (CRCC) marks a significant step in addressing the challenges of slow and difficult charging for electric vehicles through the implementation of liquid-cooled ultra-fast charging technology [1][2] Group 1: Project Overview - The project involves the construction of a new energy green smart charging station, with a total of 700 supercharging stations planned across several provinces including Guangdong, Beijing, Tianjin, Hebei, Henan, Jiangsu, Anhui, and Hubei [1] - The project is contracted under an EPC model with a construction period of two years, encompassing design, procurement, and installation of materials and equipment [1] Group 2: Technology and Innovation - Liquid-cooled ultra-fast charging technology enhances charging efficiency by using a liquid cooling system to dissipate heat generated during the charging process, allowing for higher charging currents and faster charging speeds [1][2] - The technology enables charging speeds comparable to refueling a traditional vehicle, achieving a rate of "one second per kilometer" [2] Group 3: Strategic Importance - This project represents CRCC's first foray into the construction of new energy supercharging infrastructure, aligning with national goals for high-quality charging infrastructure and contributing to carbon reduction targets [2] - The initiative integrates various technologies such as the Internet, IoT, intelligent transportation, and big data to enhance the intelligence of charging services [2]

Overview - Water conservancy is a crucial foundation for national economic and social development, directly related to flood safety, water supply safety, food security, economic security, ecological security, and national security [1][10] - In 2023, the number of ongoing water conservancy construction projects in China reached 41,014, a year-on-year increase of 0.82% [10] - The investment scale of ongoing projects reached 54,797 billion yuan, a year-on-year increase of 26.81% [10] - The completed investment in water conservancy construction projects amounted to 9,089 billion yuan, a year-on-year increase of 7.03% [10] Market Policies - The Chinese government has issued several policies to support water conservancy infrastructure construction, including guidelines for financial support, water resource conservation, and the promotion of contract water-saving management [5][7] - Policies aim to enhance the construction of major water conservancy projects, rural water facilities, and water-saving renovations, providing clear direction for the development of the water conservancy construction industry [5] Industry Chain - The upstream of the water conservancy construction industry includes suppliers of building materials such as cement, steel, and sand, as well as suppliers of hydropower equipment [8] - The midstream consists of water conservancy construction enterprises involved in surveying, design, consulting, supervision, and construction [8] - The downstream includes government departments, urban investment companies, and port enterprises, with government playing a leading role in planning, approval, and regulation [8] Competitive Landscape - As of March 2025, there are 304 construction enterprises with a level one or above qualification in water conservancy, including 36 enterprises with special qualifications [12][14] - Major companies include China Power Construction Group, China Railway Eighth Group, and China Water Resources and Hydropower Third Engineering Bureau, which have strong financial strength and project management experience [12][13] Development Trends - The importance of ecological protection in water conservancy projects is increasing, with a focus on ensuring harmony between water projects and the natural environment [24] - Investment in water conservancy projects in central and western regions is expected to increase, driven by national strategies such as the Western Development and Rural Revitalization [24] - Chinese water conservancy construction enterprises are likely to expand their international market presence through technology exports and engineering contracts under the Belt and Road Initiative [24]

Core Points - The completion of the world's tallest hotel, the Dubai Blue Sky Hotel, marks a significant achievement for China Railway 18th Bureau, showcasing China's construction capabilities in the Middle East [1][3] - China's investment in infrastructure projects in the Middle East has reached several hundred billion dollars, with a notable increase in contracts from 2013 to 2017, tripling from $18.46 billion to $55.66 billion [3][4] - The Middle East's wealth from oil exports provides a strong financial foundation for infrastructure development, making it an ideal market for Chinese construction companies [4][22] Demand - The Middle East, holding 60% of the world's oil reserves, has transformed from nomadic tribes to modern wealthy nations in a few decades [5] - In 2023, Saudi Aramco's revenue reached $440 billion, contributing 40% to Saudi Arabia's GDP, while Abu Dhabi contributed 68% to the UAE's GDP with a total income of $310 billion [6] - The region's population growth and economic development are driving significant infrastructure demand, with a population exceeding 500 million and a 6% annual growth rate [9][10] Advantages - Chinese construction companies have become the largest contractors in the Middle East, holding a 40% market share since 2022, supported by their technological strength and competitive pricing [11][22] - The Chinese construction industry has a strong foundation due to government support and rapid industrial growth, leading to a significant presence in global markets [12][17] - China's construction costs are typically 40% to 60% lower than those in other regions, with project timelines being 60% to 70% shorter, enhancing competitiveness [17] Market Trends - Middle Eastern countries have set ambitious infrastructure development goals, with Saudi Arabia's Vision 2030 plan aiming for $1.1 trillion in investments and the UAE planning to allocate 46% of its budget to infrastructure by 2025 [10][22] - The shift in global energy consumption patterns poses a challenge to the oil-dependent economies of the Middle East, prompting a diversification of their economic structures towards infrastructure, renewable energy, and high-end manufacturing [6][19] Conclusion - The journey of Chinese infrastructure in the Middle East began in 2009 with the Mecca Light Rail project, gradually building trust and reputation through high-quality and efficient project delivery [23] - As more projects are executed, the influence of Chinese construction firms in the Middle East and globally is expected to grow, positioning the region as a critical hub for international expansion [23]

经中国铁建股份有限公司（以下简称公司）职工代表大会选举， 朱霖女士为公司职工董事，任期与第六届董事会股东代表董事任期相 同。 朱霖女士简历详见附件。 特此公告。 中国铁建股份有限公司董事会 2025年4月29日 1 证券代码：601186 证券简称：中国铁建 公告编号：临 2025—021 中国铁建股份有限公司 关于选举职工董事的公告 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。 证券代码：601186 证券简称：中国铁建 公告编号：临 2025—021 附件： 朱霖简历 朱霖，女，51岁，中国国籍，无境外居留权，现任本公司职工董 事，同时任所属中国铁建党校（北京培训中心）党委书记、常务副校 长（主任）。曾任铁道建筑研究设计院劳动工资部副部长(主持工作)、 企业发展部副部长(主持工作)，中铁第五勘察设计院集团有限公司人 力资源部部长、人力资源处处长、人力资源处(党委干部部)处长，中 铁第五勘察设计院集团有限公司党委常委、纪委书记、工会主席、监 事会主席，党委副书记、工会主席、职工董事，中国铁建党校（北京 培训中心）党委副书 ...

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分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。 公 告 中國鐵建股份有限公司（「本公司」）董事會（「董事會」）謹 此 宣 佈，經 本 公 司 職 工 代 表 大 會（「職工代表大會」）選 舉，朱 霖 女 士（「朱女士」）為 本 公 司 職 工 董 事，任 期 與 第 六 屆 董 事 會 股 東 代 表 董 事 任 期 相 同。 朱 女 士 的 履 歷 詳 情 如 下： 朱 霖，女，51歲，中 國 國 籍，無 境 外 居 留 權，現 任 本 公 司 職 工 董 事，同 時 任 所 屬 中 國 鐵 建 黨 校（北 京 培 訓 中 心）黨 委 書 記、常 務 副 校 長（主 任）。曾 任 鐵 道 建 築 研 究 設 計 院 勞 動 工 資 部 副 部 長（主 持 工 作）、企 業 發 展 部 副 部 長（主 持 工 作），中 鐵 第 五 勘 察 設 計 院 集 團 有 限 公 司 人 力 ...

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分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。 （上 市 債 務 證 券 代 號：40686、40687和84570） 2025年第一季度主要經營數據公告 本 公 告 乃 中 國 鐵 建 股 份 有 限 公 司（「本公司」）根 據 香 港 法 例 第571章證券 及期貨條例第XIVA部及香港聯合交易所有限公司證券上市規則第13.09 條及第13.10B條 而 作 出。 現將本公司2025年第一季度主要經營情況公佈如下，供各位投資者參閱。 – 1 – 一. 主要經營情況 1. 按產業類型統計 | | | 2025年1-3月 | 本年累計 | | | | | --- | --- | --- | --- | --- | --- | --- | | | 新簽項目 | 新簽合 | 新簽項目 | | 新簽合 | | | 產業類型 | 數 量 | 同 額 | 數 量 | | 同 額 | 同比增減 ...

证券代码：601186 证券简称：中国铁建 公告编号：临 2025—020 中国铁建股份有限公司 2025 年第一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。 现将本公司 2025 年第一季度主要经营情况公布如下，供各位投 资者参阅。 一、 主要经营情况 1.按产业类型统计 | 产业类型 | 2025 | 年 1-3 月 | | 本年累计 | | | --- | --- | --- | --- | --- | --- | | | 新签项目数 | 新签合同额 | 新签项目数 | 新签合同额（亿 | 同比增减 | | | 量(个) | （亿元人民币） | 量（个） | 元人民币） | | | 工程承包 | 1122 | 3710.135 | 1122 | 3710.135 | -18.72% | | 绿色环保 | 178 | 490.055 | 178 | 490.055 | 77.05% | | 规划设计咨询 | 2185 | 48.701 | 2185 | 48.701 | -15.77% | | 工 ...

本内容最终解释权归申万宏源证券有限公司所有。 近日， 由申万宏源主承销的"中国铁建股份有限公司2025年面向专业投资者公开发 行科技创新可续期公司债券(第一期)"成功发行，品种一和品种二发行规模分别为15亿 元、15亿元，期限为3+N、5+N年期，票面利率为2.08%、2.18%。本期债券品种一和 品种二均创发行人同期限永续债券票面利率历史新低。 本次债券为科技创新债券，发行人实施创新驱动发展，不断健全完善科技创新管理 体制机制，大力加强科技创新工作，加快产业技术创新，用高新技术提升企业竞争力， 在一系列重大技术上取得突破，掌握了诸多关键核心技术，取得了丰硕的科技创新成 果，培育了一批高层次科技创新平台、创新团队和创新人才。发行人以国家中长期发展 战略为依据，以市场为导向，把发展作为主题，提高企业市场竞争能力作为主线，创新 和改革作为动力，围绕铁路、公路、地铁、市政、房建等领域，开发桥梁、隧道、路 基、轨道、电务、房建、机械等专业的重大关键技术，全面提高技术创新能力，形成系 统的核心竞争力，促进企业的全面建设和协调发展。 免责 声 明 ...

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分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。 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲 載 列 中 國 鐵 建 股 份 有 限 公 司（「本公司」）在 上 海 證 券 交 易 所 網 站 刊 登 的「中 國 鐵 建 股 份 有 限 公 司 關 於 接 待 機 構 投 資 者 調 研 情 況 的 公 告」，僅 供 參 閱。 承董事會命 中國鐵建股份有限公司 董事長 戴和根 中國‧北京 2025年4月23日 於 本 公 告 日 期，董 事 會 成 員 包 括：戴 和 根 先 生（董 事 長、執 行 董 事）、郜 烈 陽 先 生（非 執 行 董 事）、馬 傳 景 先 生（獨 立 非 執 行 董 事）、趙 立 新 先 生（獨 立 非執行董事）、解國光先生（獨立非執行董事）、錢偉倫先生（獨立非執行董事） 及 朱 霖 女 士（職 工 董 事）。 ...