两融数据显示，该股最新融资余额为41.24亿元，近5日增加3.47亿元，增幅为9.18%。（数据宝） 8月18日中国建筑大宗交易一览 | 成交量 | 成交金 | 成交价 | 相对当日 | | | | --- | --- | --- | --- | --- | --- | | （万 | 额 | 格 | 收盘折溢 | 买方营业部 | 卖方营业部 | | 股） | （万 | | 价 | | | | | 元） | （元） | （%） | | | | 36.00 | 199.44 | 5.54 | 0.00 | 华泰证券股份有限公司 | 华泰证券股份有限公司北京苏州街证券 | | | | | | 总部 | 营业部 | 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 （原标题：中国建筑8月18日大宗交易成交199.44万元） 中国建筑8月18日大宗交易平台出现一笔成交，成交量36.00万股，成交金额199.44万元，大宗交易成交 价为5.54元。该笔交易的买方营业部为华泰证券股份有限公司总部，卖方营业部为华泰证券股份有限公 司北京苏州街证券营业部。 进一步统计，近3个月内该股累计发生3笔大宗交易，合计成交金 ...

Core Viewpoint - China State Construction announced a total new contract amount of 26,798 billion yuan from January to July 2025, representing a year-on-year increase of 1.4% [2] Group 1: Contract Performance - The new contracts in the construction business amounted to 24,868 billion yuan, with a year-on-year growth of 2.1% [2] - The area of housing construction under contract was 153,131 million square meters, showing a year-on-year decrease of 1.2% [2] - The newly started construction area was 15,708 million square meters, down 8.5% year-on-year [2] - The completed construction area reached 10,366 million square meters, reflecting a year-on-year increase of 4.7% [2] Group 2: Real Estate Business - The contract sales amount in the real estate sector was 1,930 billion yuan, which is a year-on-year decline of 7.4% [2] - The contract sales area was 721 million square meters, showing a slight year-on-year decrease of 0.3% [2]

Core Insights - The company reported a total new contract value of approximately RMB 26,798 billion for the period from January to July 2025, representing a year-on-year increase of 1.4% [2] Group 1: Construction Business - In the construction segment, the new contract value reached RMB 24,868 billion, showing a year-on-year growth of 2.1% [3] Group 2: Real Estate Business - In the real estate segment, the contract sales amounted to RMB 1,930 billion, reflecting a year-on-year decrease of 7.4% [3] - The contracted sales area was 7.21 million square meters, which is a slight decrease of 0.3% year-on-year [3] - The company had a land reserve of 77.83 million square meters at the end of the period, with new land acquisitions totaling 5.76 million square meters [3]

Group 1 - The core point of the article is that China State Construction Engineering Corporation (601668.SH) reported a total new contract amount of 26,798 billion yuan for the period from January to July 2025, representing a year-on-year growth of 1.4% [1] - Among the total, the new contract amount for construction business reached 24,868 billion yuan, showing a year-on-year increase of 2.1% [1]

Group 1 - The core viewpoint of the announcement is to provide an overview of the company's major operational performance for the first seven months of 2025, highlighting both growth and decline in various segments [1]. Group 2 - The total new contracts signed amounted to RMB 26,798 million, representing a year-on-year increase of 1.4% [1]. - In the construction business, the housing construction segment generated RMB 16,258 million, showing a slight decline of 0.4% compared to the previous year [1]. - The infrastructure segment saw a growth of 7.4%, with new contracts totaling RMB 8,533 million [1]. - The surveying and design segment experienced a decline of 7.2%, with contracts amounting to RMB 77 million [1]. - Domestic contracts totaled RMB 23,595 million, reflecting a year-on-year increase of 2.6%, while overseas contracts were RMB 1,273 million, down by 5.5% [1]. - The total construction area for housing was 153,131 thousand square meters, which is a decrease of 1.2% year-on-year [1]. - The newly started construction area for housing was 15,708 thousand square meters, showing a significant decline of 8.5% [1]. - The completed construction area for housing reached 10,366 thousand square meters, marking an increase of 4.7% compared to the previous year [1].

Investment Rating - The industry rating is "Outperform the Market" (maintained rating) [5] Core Viewpoints - The "anti-involution" policy is transitioning from policy definition to implementation, with a focus on shifting from "price competition" to "value competition" in the construction industry [14][15] - The construction sector is expected to benefit from improved cash flow and report quality due to the optimization of supply and demand dynamics, which will enhance the dividend capacity of state-owned enterprises [15][24] - The report emphasizes the importance of technology transformation and the development of non-traditional construction businesses, such as smart cities and smart construction, as key paths for traditional construction companies [2][3] Summary by Sections 1. Traditional Low-Valuation State-Owned Enterprises - The market share of nine major state-owned construction enterprises has increased from 30.45% in 2016 to 48.9% in 2024, with a further rise to 59.89% in Q1 2025, indicating strong order acquisition capabilities [15][21] - The report highlights three dimensions for understanding the implications of "anti-involution": dividend capacity, price elasticity, and technology transformation [2][14] - Companies with strong dividend capabilities, such as China State Construction and Sichuan Road and Bridge, are recommended [2][24] 2. International Engineering Sector - The international engineering sector is expected to benefit from price elasticity due to rising expectations for resource prices, particularly in coal [3][29] - The report suggests that improvements in downstream profitability and high-quality development in industries like steel and cement will drive demand for engineering companies [3][29] 3. Steel Structure Sector - The steel structure sector is divided into manufacturing and installation, with rising steel prices benefiting manufacturing companies like Honglu Steel Construction [4][29] - The transition towards intelligent and green construction is expected to enhance the competitive advantages of leading companies in the steel structure installation segment [4][29] - Companies like Jianghe Group and Jinggong Steel Construction are highlighted for their significant growth in overseas orders [4][29] 4. Key Stock Recommendations - The report recommends several stocks based on their performance and valuation metrics, including China State Construction, China Chemical, and Honglu Steel Construction, all of which have favorable P/E ratios and dividend yields [9][25][27]

格隆汇8月18日｜中国建筑公告，2025年1-7月新签合同总额26798亿元，同比增长1.4%；建筑业务新签 合同额24868亿元，同比增长2.1%。其中房屋建筑16258亿元，同比下降0.4%；基础设施8533亿元，同 比增长7.4%；勘察设计77亿元，同比下降7.2%。按地区分，境内23595亿元，同比增长2.6%；境外1273 亿元，同比下降5.5%。地产业务合约销售额1930亿元，同比下降7.4%，合约销售面积721万m2，同比下 降0.3%。 ...

证券代码：601668 证券简称：中国建筑 公告编号：临 2025-048 2025 年 1-7 月经营情况简报 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。 | 项 目 | 数 额 比上年同期增长 | | --- | --- | | 新签合同总额（亿元 RMB） | 26,798 1.4% | | 一、建筑业务情况 | | | 1. 新签合同额（亿元 RMB） | 24,868 2.1% | | 2. 业务分部（亿元 RMB） | | | 房屋建筑 | 16,258 -0.4% | | 基础设施 | 8,533 7.4% | | 勘察设计 | 77 -7.2% | | 3. 地区分部（亿元 RMB） | | | 境内 | 23,595 2.6% | | 境外 | 1,273 -5.5% | | 4.实物量指标（万 2） m | | | 房屋建筑施工面积 | 153,131 -1.2% | | 房屋建筑新开工面积 | 15,708 -8.5% | | 房屋建筑竣工面积 | 10,366 4.7% | 1 | | 项 目 | ...

Core Insights - The total new contracts signed by the company from January to July 2025 reached 26,798 billion yuan, representing a year-on-year increase of 1.4% [1] - The new contracts in the construction business amounted to 24,868 billion yuan, with a year-on-year growth of 2.1% [1] Contract Breakdown - The new contracts for housing construction were 16,258 billion yuan, showing a slight decline of 0.4% year-on-year [1] - Infrastructure contracts totaled 8,533 billion yuan, reflecting a year-on-year increase of 7.4% [1] - Surveying and design contracts were 77 billion yuan, down 7.2% compared to the previous year [1] Regional Performance - Domestic contracts reached 23,595 billion yuan, marking a year-on-year growth of 2.6% [1] - Overseas contracts amounted to 1,273 billion yuan, which is a decline of 5.5% year-on-year [1] Real Estate Sector - The contract sales in the real estate sector were 1,930 billion yuan, down 7.4% year-on-year [1] - The contracted sales area was 7.21 million square meters, showing a slight decrease of 0.3% year-on-year [1]

8月18日，中国建筑大宗交易成交36万股，成交额199.44万元，占当日总成交额的0.14%，成交价5.54元，较市场收盘价5.54元持平。 | 2025-08-18 | 中国建筑 | 601668 | 华泰证券股份有限 5.54 36 | 199.44 | 公司总部 | 华泰证券股份有限 公司北京苏州街证 | | --- | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | 卖出营业部 | ...