Core Viewpoint - China Nuclear Engineering Corporation (CNEC) is steadily progressing towards its set goals, with significant growth in new contracts and revenue as of May 2025 [1][2]. Group 1: Financial Performance - As of May 2025, CNEC achieved new contracts totaling 66.506 billion yuan, reflecting a year-on-year increase of 14.3%, and revenue of 41.922 billion yuan, a 3.77% increase year-on-year [1][3]. - In 2024, CNEC reported total revenue of 113.541 billion yuan, a 3.80% increase, and a net profit of 2.064 billion yuan, a slight increase of 0.07% [2][3]. - The company has completed 35.62% of its annual revenue target and 40.11% of its new contract target for 2025 [1][3]. Group 2: Nuclear Power Development - CNEC is on the verge of a historic milestone, with 96 nuclear power units constructed and aiming to reach 100 units [1][4]. - The company possesses advanced construction capabilities for various nuclear reactor types, maintaining a leading market share in China's nuclear power construction sector [4][5]. - As of May 2025, CNEC is simultaneously constructing 32 nuclear power units, demonstrating its capacity to manage multiple large-scale projects [5]. Group 3: Business Segments - CNEC's primary business segments include military engineering, nuclear power engineering, and industrial and civil engineering [2]. - The industrial and civil engineering sector achieved new contracts worth 108.293 billion yuan and revenue of 69.319 billion yuan in 2024, indicating a focus on optimizing this business area [3][4]. - The company is actively developing projects in various fields, including housing construction, infrastructure, renewable energy, and petrochemicals [3]. Group 4: Shareholder Returns - CNEC plans to distribute a cash dividend of 0.94 yuan per 10 shares for the 2024 fiscal year, representing 13.72% of the net profit attributable to shareholders, an increase from the previous year [5]. - The company has also established a mid-term dividend plan for 2025, reflecting its commitment to rewarding shareholders [5].

证券代码：601611 证券简称：中国核建 中国核工业建设股份有限公司投资者关系活动记录表 | 投资者关系活动类别 | □特定对象调研 | □分析师会议 | 媒体采访 | | --- | --- | --- | --- | | | √业绩说明会 | □新闻发布会 | □路演活动 | | | √现场参观 | □其他（电话会议） | | | 时间 | 2025年6月6日 13:00-17:00 | | | | 会议方式 | 现场会议：江苏省南京市玄武区龙蟠中路81号 | | | | | 现场参观：江苏省南京市江宁区天成路58号 | | | | 公司接待人员姓名 | | | | | | 董事长：陈宝智 总经理：戴雄彪 | | | | | 副总经理、董事会秘书、总法律顾问：邹禹萌 | | | | | 总会计师：赵晨曦 | | | | | 证券事务代表、董事会办公室总经理：张云普 | | | | | 财务部总经理：吴子建 | | | | 参与投资者 | 广发证券、中金公司、银河证券、摩根士丹利、中信证券等机构投 | | | | | 资者及20余名个人投资者 | | | | | 一、主要内容 第一环节：召开2024年年 ...

关于经营情况简报的公告 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。 现将公司 2025 年 5 月主要经营情况公布如下，供各位投资者参考： 截至 2025 年 5 月，公司累计实现新签合同 665.06 亿元，累计实现营业收入 419.22 亿元。 以上数据未经审计，由于客观情况变化等因素，与未来签约额及营业收入并 不完全一致，特别提醒投资者注意。 特此公告。 中国核工业建设股份有限公司董事会 证券代码：601611 证券简称：中国核建 公告编号：2025-037 中国核工业建设股份有限公司 2025 年 6 月 14 日 ...

中国核建：截至2025年5月，公司累计实现新签合同665.06亿元，累计实现营业收入419.22亿元。 ...

中国核建（601611）公告，截至2025年5月，公司累计实现新签合同665.06亿元，累计实现营业收入 419.22亿元。 ...

证券代码：601611 证券简称：中国核建 公告编号：2025-036 中国核工业建设股份有限公司 关于召开2024年年度股东大会的通知 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 (一)股东大会类型和届次 2024年年度股东大会 (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 (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 30 日 14 点 00 分 召开地点：上海市青浦区蟠龙路 500 号中核科创园 A1 办公楼 股东大会召开日期：2025年6月30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 (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 30 日 至2025 年 6 月 30 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 东大会召开当日的交易时 ...

Core Viewpoint - The management of state-owned enterprises (SOEs) in China has shifted from policy advocacy to substantive implementation, with expectations for valuation restructuring and market confidence enhancement as assessment mechanisms and supporting policies improve [1][5]. Group 1: SOE Value Management - The State-owned Assets Supervision and Administration Commission (SASAC) has emphasized improving the quality of SOEs' listed companies and enhancing value management to stabilize market expectations [1][4]. - Several SOEs have held performance briefings and investor engagement activities, committing to increase dividend payouts and enhance shareholder returns while focusing on core business improvement and innovation [1][2]. - China National Nuclear Corporation (CNNC) reported a market value of approximately 260 billion yuan, with a year-on-year increase of over 30%, highlighting its commitment to shareholder value through strategic investments [1][2]. Group 2: Dividend Policies - China National Power has maintained a cash dividend payout ratio exceeding 35% for ten consecutive years, with the 2024 dividend ratio reaching a historical high of 41.92%, totaling over 24 billion yuan in cumulative dividends [2]. - China Nuclear Technology has consistently returned cash dividends for 18 years, with a 2024 payout ratio of 32.43% and an average payout ratio exceeding 30% from 2020 to 2024 [2]. - China Huaneng Group is focused on enhancing dividend frequency and amounts across its listed companies to stabilize market value [2]. Group 3: Innovation and Reform - Accelerating innovation and deepening reforms are crucial for SOEs to enhance value management and improve the quality of listed companies [3][4]. - The State Grid Corporation is implementing multiple measures to promote high-quality development of its listed companies, focusing on energy transition and new power system construction [3]. - China Aerospace Science and Technology Corporation aims to enhance innovation capabilities and integrate technology and industry innovation to improve value creation [3]. Group 4: Regulatory Framework - The SASAC has issued guidelines to improve the market value management of SOEs, emphasizing the importance of maintaining investor rights and promoting healthy capital market development [3][4]. - Recent analyses indicate that value management is essential for listed companies to enhance intrinsic value and market performance through various compliant methods [4][5]. - SOEs are increasingly formalizing their value management practices, including the establishment of value enhancement plans and regular communication with investors [5].

Group 1 - The core viewpoint is that China National Nuclear Corporation (CNNC) expects a market capitalization of approximately 260 billion yuan for its listed companies in 2024, with an annual growth rate exceeding 30% [1] - CNNC emphasizes the importance of market value performance for its listed companies, with several achieving an A-grade in information disclosure assessments from stock exchanges in 2024 [1] - China Nuclear Power successfully completed a 14 billion yuan refinancing project for A-shares in 2024 [1] Group 2 - China Nuclear Construction is enhancing its nuclear power construction capabilities and actively expanding into international markets, achieving significant milestones in the International Thermonuclear Experimental Reactor (ITER) project [1] - Tongfang Co. is focusing on strategic leadership and innovation, resulting in significant market development achievements and continuous growth in overseas revenue [1] - China Isotope & Radiation is deepening its "6+N" industry layout strategy, forming a collaborative ecosystem in core businesses such as nuclear medicine and irradiation technology applications [1] Group 3 - CNNC's overall performance is steadily improving, having received an A-grade in annual performance assessments from the State-owned Assets Supervision and Administration Commission for 19 consecutive years [2] - The year 2025 marks the 70th anniversary of China's nuclear industry and is designated as CNNC's "Pursuit of Excellence Year," aiming to support high-quality development of its listed companies through excellent operational performance and management efficiency [2] - CNNC plans to leverage capital market functions to assist in industrial transformation and upgrading, promoting high-level circulation of technology, industry, and finance [2]

第四届监事会第二十五次会议决议的公告 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。 中国核工业建设股份有限公司（以下简称"公司"）第四届监事会第二十五 次会议于 2025 年 6 月 5 日以通讯会议方式召开，会议通知于 2025 年 5 月 30 日送 达。本次会议应参会表决监事 3 人，实际参会监事 3 人。会议的召集、召开程序 合法有效。 本次会议由公司监事会主席王正勇先生主持，经与会监事充分审议并经过有 效表决，审议通过了以下议案： 1.通过了《关于 2024 年监事会工作报告的议案》 证券代码：601611 证券简称：中国核建 公告编号：2025-035 中国核工业建设股份有限公司 同意票数 3 票；反对票数 0 票；弃权票数 0 票。 特此公告。 中国核工业建设股份有限公司监事会 2025 年 6 月 6 日 1 ...

Group 1: Market Trends and Performance - The construction and building materials indices have shown a W-shaped fluctuation in 2025, with the building materials sector outperforming the Shanghai Composite Index by 2.5 percentage points[12] - As of May 30, 2025, the CI building materials index has increased by 0.05% compared to the end of 2024, while the CI construction index has decreased by 3.3%[12] - The construction sector's operating cash flow has improved significantly, with a net cash inflow of CNY 1,668 billion in 24Q4 and 25Q1, an increase of CNY 1,534 billion year-on-year[38] Group 2: Industry Outlook and Recommendations - The demand for renovation and urban renewal is expected to support the building materials sector, with an estimated 1.1 to 1.2 million units of renovation demand per year from 2024 to 2026, growing at a CAGR of 5%[4] - Key recommendations for investment include China State Construction, China National Materials, and China Nuclear Engineering, with target prices set at CNY 8.60, CNY 13.04, and CNY 10.81 respectively[10] - The cement industry is projected to see a 6% year-on-year decline in demand, while the glass fiber and carbon fiber sectors are expected to maintain high demand due to emerging industries[5] Group 3: Corporate Strategies and Transformations - Many small and medium-sized construction enterprises are actively seeking cross-industry transformations, with a focus on sectors like semiconductors and renewable energy[45] - The "6+4+2" trillion yuan debt restructuring plan has led to a total of CNY 3.38 trillion in debt replacement funds in 2024, benefiting smaller construction firms more significantly[37] - The construction industry is entering a phase of deep integration, with state-owned enterprises likely to increase their market share as private firms exit the market[43]