中国核建公告，2025年上半年营业收入534.72亿元，同比下降2.11%。净利润7.98亿元，同比下降 16.48%。 ...

Market Overview - On August 26, the infrastructure sector declined by 0.27% compared to the previous trading day, with Hui Lv Ecology leading the decline [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Stock Performance - Notable gainers in the infrastructure sector included: - Garden Shares (605303) with a closing price of 24.24, up 9.98% and a trading volume of 473,400 shares, totaling 1 billion yuan [1] - Dongzhu Ecology (603359) closed at 8.38, up 7.85% with a trading volume of 845,100 shares, totaling 704 million yuan [1] - Oriental Landscape (002310) closed at 2.38, up 3.03% with a trading volume of 2,093,000 shares, totaling 500 million yuan [1] - Major decliners included: - Hui Lv Ecology (001267) closed at 12.68, down 5.79% with a trading volume of 542,900 shares, totaling 700 million yuan [2] - Chengbang Shares (603316) closed at 9.04, down 4.14% with a trading volume of 269,300 shares, totaling 24.5 million yuan [2] - China Power Construction (601669) closed at 6.23, down 1.42% with a trading volume of 2,483,700 shares, totaling 1.55 billion yuan [2] Capital Flow - The infrastructure sector experienced a net outflow of 423 million yuan from institutional investors, while retail investors saw a net inflow of 316 million yuan [2] - Key stocks with significant capital flow included: - Dongzhu Ecology (603359) had a net inflow of 113 million yuan from institutional investors, but a net outflow of 65.55 million yuan from retail investors [3] - Sichuan Road and Bridge (600039) saw a net inflow of 67.19 million yuan from institutional investors, with outflows from both retail and speculative investors [3] - Oriental Landscape (002310) had a net inflow of 24.81 million yuan from institutional investors, but outflows from retail investors [3]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The A-share market is currently experiencing a valuation recovery. Measures such as large-scale equipment upgrades and consumer goods trade-ins are expected to boost domestic demand, while export growth may decline. A weak resonance between the domestic economic fundamentals and capital flows is expected to gradually emerge [30]. - Considering the impact of refinancing policies, the subsequent issuance pressure of convertible bonds is not expected to be high. As the stock market recovers, the inflow of incremental funds into convertible bonds has driven the valuation to a relatively high level in history. Attention should be paid to the risk of valuation correction. In terms of terms and conditions, it is recommended to continue to focus on the space for lower revision games, be vigilant against the risk of early redemption, and appropriately pay attention to short-term game opportunities for near-maturity convertible bonds [31]. - Industries worthy of attention include popular themes such as AI computing power, humanoid robots, intelligent driving, low-altitude economy, data elements, and satellite Internet of Things; repair opportunities in low-position science and technology growth sectors such as semiconductors and innovative drugs; pro-cyclical and domestic demand sectors such as real estate, chemicals, and consumer electronics whose prosperity is gradually recovering; industries with both export advantages and domestic demand growth potential such as automobiles, home appliances, and engineering machinery; central state-owned enterprises represented by "China-headquartered" companies, the "Belt and Road" theme, and high-dividend sectors such as public utilities, petrochemicals, and precious metals under the Chinese characteristic valuation system; and the military industry driven by the resonance of hedging demand and industrial demand cycles [31]. 3. Summary by Relevant Catalogs 3.1. Convertible Bond Weekly Special and Outlook 3.1.1. The "Diverse States" of Near-Maturity Convertible Bonds - As of August 22, 2025, 82 convertible bonds have been delisted this year, including 20 that have reached maturity. Among the matured and delisted convertible bonds, 6 have an actual maturity payment ratio of less than 1%, 3 have a payment ratio of over 90% (Nuclear Construction Convertible Bond, Haoke Convertible Bond, and Intelligent Convertible Bond), and the rest have a maturity payment ratio concentrated between 20% - 60% [10]. - The paths of promoting conversion and maturity payment of convertible bonds that have reached maturity this year vary. For example, the issuance amount of CITIC Convertible Bond is 40 billion yuan, but the final payment ratio is less than 1%. Its methods of promoting conversion are diverse, including the controlling shareholder's premium conversion and conversion during periods of negative premium rate due to the positive stock's "abnormal movement." Since December 2024, with the continuous rise of bank stocks, the conversion value of CITIC Convertible Bond has been significantly higher than the maturity value, accelerating the conversion process [13][14]. - In contrast, the Nuclear Construction Convertible Bond, a large central enterprise convertible bond, has a maturity payment ratio as high as 99.27%. The company's main business has a stable profit margin, and it has a relatively weak willingness to promote conversion, resulting in a smooth maturity payment [19]. - Most private enterprise convertible bonds (11 out of 18) have proposed to lower the conversion price during their tenure. However, due to factors such as weak performance and poor stock price performance of the underlying stocks, large-scale conversion has not been achieved. For example, Dafeng Convertible Bond achieved a large-scale conversion through a high negative premium rate before maturity, alleviating the payment pressure to some extent [21]. - As of August 22, there are still 14 convertible bonds approaching maturity this year. Some companies have a strong willingness to promote conversion, such as Jinneng Convertible Bond, which recently lowered its conversion price. It is recommended to analyze the company's willingness to promote conversion based on factors such as company attributes, debt repayment pressure, and research and communication, and pay attention to negative premium rate conversion and lower revision games during the conversion promotion process [28]. 3.1.2. Weekly Review and Market Outlook - This week, the A-share market showed an overall upward trend with active trading, and technology sectors led the market. The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index all rose to varying degrees, with the ChiNext Index performing particularly well. Sectors such as communication, comprehensive, and computer led the gains, while real estate and petrochemical sectors declined slightly [29]. - In the convertible bond market, considering the impact of refinancing policies, the subsequent issuance pressure is not expected to be high. As the stock market recovers, the inflow of incremental funds has driven the valuation to a relatively high level in history. Attention should be paid to the risk of valuation correction. It is recommended to continue to focus on the space for lower revision games, be vigilant against the risk of early redemption, and appropriately pay attention to short-term game opportunities for near-maturity convertible bonds [31]. 3.2. Weekly Tracking of the Convertible Bond Market 3.2.1. The Equity Market Rose, with Communication, Electronics, and Comprehensive Sectors Leading - This week, major equity market indices rose. The Wind All A Index rose 3.87%, the Shanghai Composite Index rose 3.49%, the Shenzhen Component Index rose 4.57%, and the ChiNext Index rose 5.85%. The market style was more inclined towards large-cap growth stocks. Among small-cap indices, the CSI 1000 Index rose 3.45%, and the STAR 50 Index rose 13.31% [35]. - All 31 Shenwan industry indices rose this week, with communication, electronics, and comprehensive sectors leading the market with increases of 10.84%, 8.95%, and 8.25% respectively [38]. 3.2.2. The Convertible Bond Market Rose Significantly, and the Median of the 100-yuan Premium Rate Increased - This week, the convertible bond market rose. The CSI Convertible Bond Index rose 2.83%, the Shanghai Convertible Bond Index rose 2.77%, the Shenzhen Convertible Bond Index rose 2.96%, the Wind Convertible Bond Equal-Weighted Index rose 3.20%, and the Wind Convertible Bond Weighted Index rose 2.86%. The average daily trading volume of convertible bonds increased, with an average daily trading volume of 94.06 billion yuan, an increase of 0.975 billion yuan compared to last week, and a total weekly trading volume of 470.3 billion yuan [40]. - At the industry level of convertible bonds, 29 industries rose, with the social services, beauty care, and computer industries ranking among the top three in terms of gains, with increases of 9.16%, 7.01%, and 5.28% respectively. At the corresponding underlying stock level, 26 industries rose, and 3 industries fell. The computer, electronics, and food and beverage industries led the gains, with increases of 10.14%, 8.92%, and 7.29% respectively [43]. - Most individual convertible bonds rose this week (414 out of 450). After excluding the closing data of newly listed convertible bonds, the top five convertible bonds in terms of weekly gains were Dongshi Convertible Bond (social services, 90.12%), Jintong Convertible Bond (non-ferrous metals, 22.92%), Huayi Convertible Bond (pharmaceutical biology, 19.84%), Weice Convertible Bond (electronics, 18.48%), and Dongjie Convertible Bond (machinery and equipment, 17.05%). The top five in terms of weekly trading volume were Outong Convertible Bond (power equipment, 23.791 billion yuan), Dayuan Convertible Bond (machinery and equipment, 23.686 billion yuan), Saili Convertible Bond (pharmaceutical biology, 12.55 billion yuan), Dongjie Convertible Bond (machinery and equipment, 12.492 billion yuan), and Huahong Convertible Bond (environmental protection, 11.35 billion yuan) [45]. - In terms of price, the number of absolute low-price convertible bonds decreased, and the median price of convertible bonds increased significantly. The number of convertible bonds with an absolute price of less than 110 yuan decreased by 3 compared to last week, the number in the 110 - 130 yuan range decreased by 40, the number in the 130 - 150 yuan range increased by 17, the number in the 150 - 200 yuan range increased by 14, and the number of those with a price greater than 200 yuan increased by 6. As of this Friday, the median price of the entire market's convertible bonds closed at 135.19 yuan, an increase of 3.03 yuan compared to last weekend [47]. - This week, the weighted conversion value of the entire market increased, and the premium rate decreased. The weighted average conversion value of the entire market based on the remaining bond balance was 102.18 yuan, an increase of 3.03 yuan compared to last weekend. The weighted conversion premium rate of the entire market was 40.64%, a decrease of 1.05 percentage points compared to last weekend. The 100-yuan parity premium rate (weighted average) was 29.42%, an increase of 4.92 percentage points compared to last weekend, and the median was 33.05%, an increase of 2.50 percentage points compared to last weekend. Currently, the 100-yuan parity premium rate is above the 50th percentile since 2017. The median implied volatility of the entire market was 41.78%, an increase of 3.91 percentage points compared to last weekend, and the pure bond premium rate of debt-biased convertible bonds was 14.50%, an increase of 3.55 percentage points compared to last weekend [51]. 3.2.3. High-Frequency Tracking of Different Types of Convertible Bonds 3.2.3.1. Classification Valuation Changes - This week, the valuation of balanced convertible bonds slightly declined, while that of equity-biased convertible bonds increased significantly. The valuation of convertible bonds with a parity of 110 - 120 yuan decreased, while the valuation of other parity convertible bonds increased, with those in the 0 - 80 yuan and 100 - 110 yuan ranges increasing more significantly. The valuation of AAA, A+, and A and below convertible bonds increased, while that of AA+, AA, and AA- convertible bonds decreased. The valuation of small-cap and small - medium-cap convertible bonds increased, while that of medium-cap and large-cap convertible bonds decreased [59]. - Since the beginning of 2024, the conversion premium rates of equity-biased and balanced convertible bonds have both rebounded from their lows. As of this Friday, the conversion premium rate of equity-biased convertible bonds is above the 35th percentile since 2017, and that of balanced convertible bonds is below the 50th percentile since 2017 [59]. 3.2.3.2. Market Index Performance - This week, all convertible bonds of different ratings rose. AAA convertible bonds rose 1.77%, AA+ convertible bonds rose 3.57%, AA convertible bonds rose 3.67%, AA- convertible bonds rose 2.69%, A+ convertible bonds rose 3.67%, and A and below convertible bonds rose 2.55%. Since 2023, AAA convertible bonds have recorded a 22.35% return, AA+ convertible bonds 15.24%, AA convertible bonds 21.33%, AA- convertible bonds 29.60%, A+ convertible bonds 32.92%, and A and below convertible bonds 34.83%. Historically, high-rated AAA convertible bonds have shown stable performance, while low-rated convertible bonds have shown weaker downside resistance and greater rebound strength [74]. - This week, all convertible bonds of different scales rose. Small-cap convertible bonds rose 2.84%, small - medium-cap convertible bonds rose 2.66%, medium-cap convertible bonds rose 3.86%, and large-cap convertible bonds rose 2.29%. Since 2023, small-cap convertible bonds have recorded a 34.82% return, small - medium-cap convertible bonds 29.29%, medium-cap convertible bonds 26.30%, and large-cap convertible bonds 19.79% [74]. 3.3. Tracking of Convertible Bond Supply and Terms 3.3.1. This Week's Primary Market Issuance Plans - This week, there were no newly listed convertible bonds, and there were 3 convertible bonds that had been issued but not yet listed. Among the convertible bonds to be listed, Weidao Convertible Bond and Jinwei Convertible Bond both have a scale of over 1 billion yuan. This week, there were 12 primary approvals (from August 18 to August 23, 2025), with no convertible bonds approved for registration by the CSRC. Three convertible bonds, including Dingjie Shuzhi (828 million yuan), Lianrui Xincai (720 million yuan), and Jinpan Technology (1.672 billion yuan), were accepted by the exchange [80]. - From the beginning of 2023 to August 22, 2025, the total number of planned convertible bonds was 93, with a total scale of 150.36 billion yuan. Among them, the number of convertible bonds approved by the board of directors was 19, with a total scale of 28.493 billion yuan; the number approved by the general meeting of shareholders was 36, with a total scale of 64.672 billion yuan; the number accepted by the exchange was 30, with a total scale of 41.847 billion yuan; the number approved by the listing committee was 4, with a total scale of 8.979 billion yuan; and the number approved for registration by the CSRC was 4, with a total scale of 6.37 billion yuan [81]. 3.3.2. Lower Revision and Redemption Clauses - This week, 8 convertible bonds announced that they were expected to trigger a lower revision, 4 convertible bonds announced that they would not be revised downward, and Qifan Convertible Bond proposed a lower revision, with no convertible bonds announcing the result of the lower revision [84][87]. - This week, 12 convertible bonds announced that they were expected to trigger early redemption, 7 convertible bonds announced that they would not be redeemed early, and 6 convertible bonds, including Chongda Zhuan 2, Dayuan Convertible Bond, Haitai Convertible Bond, Sheyan Convertible Bond, Dongjie Convertible Bond, and Rongtai Convertible Bond, announced early redemption [86][88][89]. - As of the end of this week, there was 1 convertible bond still in the put option declaration period and 9 convertible bonds still in the company's capital reduction and settlement declaration period. Attention should be paid to the price changes of convertible bonds and the marginal changes in the company's tendency for lower revision [91].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：601611 证券简称：中国核建 公告编号：2025-048 中国核工业建设股份有限公司 关于召开2025年半年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： ● 会议召开时间：2025年08月29日(星期五)13:00-14:00 ● 投资者可于2025年08月22日(星期五)至08月28日(星期四)16:00前登录上证路演中心网站首页点击"提问 预征集"栏目或通过公司邮箱dong_sh@cnecc.com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。 中国核工业建设股份有限公司（以下简称"公司"）将于2025年8月29日发布公司2025年半年度报告，为 便于广大投资者更全面深入地了解公司经营成果、财务状况，公司计划于2025年08月29日（星期五） 13:00-14:00举行2025半年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对2025年上半年的经营成 ...

Company Announcements - Dameng Data's board member and senior vice president is under investigation by the Hubei Provincial Supervisory Committee, but the company's operations remain normal [1] - Jishi Media reported a net loss of 232 million yuan in the first half of 2025, despite a revenue increase of 8.7% to 999.7 million yuan [2] - Wantai Biological's nine-valent HPV vaccine has received its first batch release certificate, marking its market entry and potential revenue growth [2] - Feilu Co., Ltd. is undergoing a change in control, leading to a suspension of its stock trading starting August 22 [2] Financial Performance - Sany Heavy Industry reported a 46% increase in net profit to 5.216 billion yuan in the first half of 2025, with a revenue of 44.534 billion yuan, up 14.96% [3] - EVE Energy's net profit decreased by 24.9% to 1.605 billion yuan, despite a revenue increase of 30.06% to 28.169 billion yuan [5] - GoerTek achieved a net profit increase of 15.65% to 1.42 billion yuan, with a revenue of 37.55 billion yuan, down 7.02% [6] Approvals and Projects - Changchun High-tech's subsidiary received acceptance for a clinical trial application for GenSci143, a dual-specificity antibody drug targeting B7-H3 and PSMA [7] - Zejing Pharmaceutical received approval for clinical trials of ZG005 and ZGGS18 in combination with a specific cancer drug [7] Financing and Capital Increase - Zhenghe Industrial plans to raise no more than 818 million yuan through a private placement for various projects and working capital [8] Shareholding Changes - Zhongyin Securities announced that Jiangxi Copper plans to reduce its stake by up to 3%, equating to 83.34 million shares [9] - Mengke Pharmaceutical's shareholders plan to transfer 22.946 million shares, representing 3.5% of the total share capital [15] Investments and Strategic Partnerships - Diou Home plans to establish a wholly-owned subsidiary with an investment of 500 million yuan to expand into the generative AI field [11] - Gree Green signed a strategic cooperation agreement with Weilan Lithium to develop ultra-high energy density battery materials and solid-state battery innovations [12]

特此公告。 中国核工业建设股份有限公司董事会 2025 年 8 月 22 日 1 为回应投资者关注，现将公司子公司近期签署的核电工程合同情况公告如下： | 序号 | 签约单位 | | | 合同名称 | | | --- | --- | --- | --- | --- | --- | | 1 | 中国核工业第二二建设有限公司 | 三门核电 | 5、6 | 号机组核岛及配套 | BOP 土建工程合同 | | 2 | 中国核工业第五建设有限公司 | 三门核电 | 5、6 | 号机组核岛及配套 | BOP 安装工程合同 | 公司将根据项目进展及时履行信息披露义务，请广大投资者谨慎决策，注意 投资风险。 证券代码：601611 证券简称：中国核建 公告编号：2025-049 中国核工业建设股份有限公司 关于核电工程签约的公告 公司董事会及全体董事保证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"）将于 2025 年 8 月 29 日 发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司经营成 果、财务状况，公司计划于 2025 年 08 月 29 日（星期五）13:00-14:00 举行 2025 半年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年上半年的经营 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。 证券代码：601611 证券简称：中国核建 公告编号：2025-048 中国核工业建设股份有限公司 关于召开 2025 年半年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： 二、说明会召开的时间、地点 会议召开时间：2025 年 08 月 29 日(星期五)13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http ...

每经AI快讯，8月21日，中国核建（601611）(601611.SH)公告称，公司子公司近期签署了三门核电5、6 号机组核岛及配套BOP土建工程合同和安装工程合同。 ...

中国核工业建设股份有限公司发布关于核电工程签约的公告。公司董事会及全体董事保证公告内容真实 准确完整。公告显示，公司子公司近期签署两份核电工程合同，分别为中国核工业第二二建设有限公司 的三门核电5、6号机组核岛及配套BOP土建工程合同，以及中国核工业第五建设有限公司的三门核电 5、6号机组核岛及配套BOP安装工程合同。 ...

证券之星消息，8月19日基础建设板块较上一交易日下跌0.08%，东珠生态领跌。当日上证指数报收于 3727.29，下跌0.02%。深证成指报收于11821.63，下跌0.12%。基础建设板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603359 | 东珠生态 | 7.56 | -2.95% | 28.12万 | 2.15 乙 | | 002941 | 新疆交建 | 15.48 | -2.82% | 69.17万 | 10.86 Z | | 002307 | 北新路桥 | 4.78 | -2.05% | 93.43万 | 4.48亿 | | 603007 | *ST花王 | 4.66 | -1.48% | - 11.42万 | 5344.78万 | | 603388 | *ST元成 | 2.28 | -1.30% | 17.67万 | 4039.60万 | | 002717 | ST岭南 | 1.63 | -1.21% | 64.04万 | 1.05亿 | | 600039 ...