Group 1 - The Novi Sad to Subotica section of the Hungary-Serbia railway, constructed by China State Construction Engineering Corporation's subsidiary, has officially opened, marking the full operational launch of the Serbia segment of the railway [2][4] - Serbian President Vucic expressed gratitude towards Chinese partners for their significant contributions to the construction of important infrastructure in Serbia [2] - The Hungary-Serbia railway spans 341.7 kilometers, with China State Construction Engineering Corporation responsible for three segments of the railway's steel truss bridges and contact network steel structures [4] Group 2 - The K81 segment steel truss bridge is the largest in terms of single unit weight and span, weighing nearly 1,300 tons and featuring a pushing distance of over 150 meters with a maximum span of 46 meters [5] - The project team utilized a 100% domestically produced pushing technology, combining synchronous control with hydraulic pushing to ensure precise and stable bridge displacement [5] - The completion of the high-speed railway significantly reduces travel time from Belgrade to Subotica from over 5 hours to as fast as 1 hour and 19 minutes, enhancing transportation convenience and stimulating tourism and urbanization along the route [5] Group 3 - The project adheres to strict EU standards, with a focus on quality control and innovative manufacturing techniques to overcome challenges such as small cross-sections and narrow box spaces [4][5] - This railway project is seen as a flagship collaboration between China and Central Eastern European countries, serving as a model for the integration of Chinese technology with EU railway interoperability standards [5]

Core Insights - The project in Egypt's new administrative capital is a significant undertaking by China State Construction Engineering Corporation, showcasing the collaboration between China and Egypt under the Belt and Road Initiative [1][2] Group 1: Project Overview - The project includes the construction of 10 office buildings, 5 residential buildings, 4 large hotels, and the tallest building in Africa at 385.8 meters [1] - It is part of Egypt's national revival plan and aims to create a new economic center [1] Group 2: Employment and Skills Development - The project has created job opportunities for thousands of local workers and enhanced their technical skills [1][2] - Strong friendships have developed between Chinese and Egyptian workers, exemplified by local workers attending farewell events for departing Chinese employees [1] Group 3: Technological and Environmental Standards - The project incorporates advanced construction techniques such as the "chute" technology for safe and efficient pouring, wastewater recycling, and solar panel installations for renewable energy [2] - High standards in construction reflect the dedication and hard work of the workers involved [2] Group 4: Challenges and Solutions - The project faced various challenges, including delays due to the COVID-19 pandemic, regional instability, currency fluctuations, and rising costs of materials [2] - The project team actively communicated with supervisors to adapt to changes and ensured quality by supervising new suppliers [2] Group 5: Future Prospects - The project is seen as a model of cooperation between China and Egypt, aligning with Egypt's Vision 2030 for sustainable development [2] - The aim is to make this project one of the most influential and largest in Egypt, with continued efforts from 5,000 workers [2]

Core Viewpoint - Prefabricated steel structure buildings are becoming a major trend in the construction industry due to their energy-saving, environmentally friendly, high construction efficiency, and stable quality advantages. The market size for this industry in China is projected to reach approximately 474.5 billion yuan in 2024, accounting for 78.66% of the overall prefabricated building market [1][12]. Overview - The construction industry can be divided into traditional and prefabricated buildings, with prefabricated buildings being assembled from components produced in controlled environments [2][3]. Advantages of Prefabricated Steel Structure Buildings - These buildings allow for standardized production of steel components and associated structures, ensuring quality and reducing labor costs. They also significantly lower dust, noise pollution, and resource consumption, aligning with green building principles [1][12]. Market Policies - The Chinese government has issued various policies to support the development of the prefabricated steel structure industry, creating a favorable environment for growth [8]. Industry Chain - The industry chain includes upstream suppliers of raw materials like steel and fireproof coatings, midstream design and construction services, and downstream markets encompassing industrial, public, commercial, and residential buildings [9][11]. Market Demand - Industrial buildings represent the largest demand segment for prefabricated steel structures, accounting for 54.4% of the market. The steady growth of the industrial sector in China provides significant opportunities for this industry [11]. Competitive Landscape - The market is becoming increasingly competitive, with major players including Jiangsu Jinggong Steel Structure Group, Anhui Honglu Steel Structure Group, and China State Construction Engineering Corporation. These companies leverage strong production capabilities and project experience [13][15]. Revenue Analysis - In 2024, China State Construction and Shanghai Construction Group reported revenues of 21.87 billion yuan and 30.02 billion yuan, respectively, with a smaller proportion of their income derived from prefabricated steel structure businesses compared to Honglu Steel Structure, which generated 20.82 billion yuan from steel structure operations, accounting for 96.76% of its total revenue [15][16]. Future Trends - The demand for prefabricated steel structure buildings is expected to grow due to increasing quality and performance expectations, as well as a focus on green development. The industry is likely to see broader applications in residential, public, and industrial sectors [16].

格隆汇10月3日丨中国建筑兴业(00830.HK)宣布，公司将于2025年10月20日(星期一)举行董事局会议， 藉以(其中包括)审议及批准发布公司及其附属公司2025年第三季度未经审核财务资料及经营情况。 ...

部分与会嘉宾合影。中建中东供图 人民网迪拜10月2日电 （记者管克江）当地时间10月1日，中建中东公司与迪拜大学孔子学院在中建中东总部联合举办"月满中东·福伴中秋"主题文化交 流活动。来自30余个国家的150余名中外员工参与活动，感受中华传统优秀文化魅力。 活动设六大文化板块，包括中秋文化授课、中秋主题月饼制作、中秋剪纸、毛笔书法临摹、品浮梁红茶及"玉兔寻月"游戏等环节。资深孔院老师深入讲 解中秋节的来历、习俗及传说，传递团圆幸福祈愿；冰皮月饼制作环节，大家亲手学习制作传统佳节美食；剪纸艺术深含吉祥寓意；毛笔字临摹留下跨文化 合作墨宝；"玉兔寻月"游戏寓教于乐；景德镇浮梁红茶搭配阿拉伯蜜枣，缔造丝路茶香新体验。活动现场，中外员工手持中阿双语祝福卡，在"中秋快乐"主 题展板前打卡留念。 迪拜大学孔子学院院长郑晓英表示，中秋圆月与中东新月是连接两大文明的符号。如今中阿合作需要更多这样的文化触点。 中建中东公司副总经理倪蓓蕾说："作为扎根中东20年的中国企业，我们不仅建造物理地标，更致力于搭建文化理解桥梁。此次活动是'鲁班工匠计 划'从技术融合迈向文化共生的关键一步。" 品尝中国茶。中建中东供图 ...

人民网开罗10月1日电 （记者黄培昭）国庆中秋双节来临之际，在埃及新首都CBD项目P2&P6标 段，为项目收尾而坚守在工地上的中建员工举办了一场"中埃同庆，共话中秋"迎中秋主题活动。他们一 起体验穿汉服、制灯笼，做月饼、猜灯谜、写书法，感受中秋文化魅力，增进彼此之间友谊，共迎中秋 佳节的到来。40余名中埃员工参加活动。 活动现场，埃及女员工头戴纱巾，身穿汉服，围坐在圆桌旁，桌子中央摆放着提前预制好的豆沙馅 和椰枣馅。她们几乎人手一个面团，不时向身边的中国同事请教如何包陷、如何使用模具。中国同事耐 心地讲解，做示范，并介绍中秋文化。有位员工还开启了视频连线，兴奋地向她的朋友直播自己做月饼 的过程。埃及男员工们对制作灯笼更感兴趣。当把所有部件安装完成并点亮的时候，现场响起欢呼声。 中建埃及分公司CBD项目宣传负责人黎炳宏已经连续多年在埃及度过中秋、春节、端午等中国传 统节日，他说到："这些年来，非常多中埃员工在CBD项目上相遇、相知、相识，从陌生人发展成为挚 友，结下深厚的友谊，他们齐心协力、不畏艰辛，在原本是一片荒芜的土地上建设起一座现代化的新首 都，打造出让埃及总理赞扬为"埃及新时代金字塔"的CBD项目，我认 ...

Investment Rating - The report maintains a "Recommended" rating for the construction industry [2] Core Viewpoints - The construction industry is experiencing a decline in prosperity, with fixed asset investment growth slowing down. In August, the construction PMI was 49.1, down 1.5 percentage points from the previous month, and the new orders index was 40.6%, down 2.1 percentage points [5][8] - The report highlights the establishment of the Xinjiang-Tibet Railway Company and the completion of the world's highest bridge, the Guizhou Huajiang Canyon Bridge, as significant developments in infrastructure [30][35] - The Ministry of Finance has issued guidelines to ensure the implementation and operation of existing PPP projects, which is expected to stabilize the construction sector [51][52] Summary by Sections 1. Construction Industry Prosperity - The construction industry's business activity index was 49.1 in August, indicating a decline in prosperity [7][8] - The new orders index for the construction industry was 40.6%, reflecting a decrease in demand [5][8] 2. Fixed Asset Investment Growth Slowing - From January to August, national fixed asset investment (excluding rural households) was 326,111 billion yuan, with a year-on-year growth of 0.5%, a decline of 1.1 percentage points compared to the previous month [19] - The investment in the secondary industry grew by 7.6%, while the tertiary industry saw a decline of 3.4% [19] 3. Infrastructure Investment Growth Decline and New Regulations for PPP - Broad infrastructure investment growth was 5.42%, down 1.95 percentage points, while narrow infrastructure investment growth was 2%, down 1.2 percentage points [30] - The establishment of the Xinjiang-Tibet Railway Company marks a significant step in advancing the project [44] - The Ministry of Finance's guidelines for existing PPP projects aim to enhance public service and operational efficiency [51][52] 4. Real Estate Investment and Sales Decline - From January to August, real estate development investment was 60,309 billion yuan, down 12.9% year-on-year, with the sales area of commercial housing decreasing by 4.7% [60] - The new construction area for residential buildings fell by 19.5%, indicating ongoing pressure in the real estate sector [61] 5. PPP Project Construction and Operation Assurance - The report emphasizes the large scale of existing PPP projects, with over 7 trillion yuan in investments expected [50] - The guidelines issued by the Ministry of Finance provide a framework for the construction and operation of these projects, ensuring their stability and efficiency [51][52]

Group 1 - Yinglian Co., Ltd. expects a net profit of 34.5 million to 37.5 million yuan for the first three quarters of 2025, representing a year-on-year increase of 1531% to 1673% [1] - China CNR Corporation signed major contracts totaling approximately 54.34 billion yuan, accounting for 22% of its expected revenue for 2024 [1] - Shengmei Shanghai reported a total order amount of 9.072 billion yuan, a year-on-year increase of 34.1% [2] Group 2 - Fulian Precision plans to increase capital in its subsidiary Jiangxi Shenghua with a total investment of 35.63 billion yuan, which is expected to constitute a major asset restructuring [3] - Aimeike has obtained a drug registration certificate for Minoxidil topical solution, which is used for treating male pattern baldness [4] - Guolin Technology is planning to acquire 91.07% of Kailianjie’s equity for cash, which is expected to constitute a major asset restructuring [5] Group 3 - Baicheng Co. plans to purchase 55% of Shanghai Canxi Engineering Equipment Co. and will suspend trading of its stock starting September 30, 2025 [6][7] - Diaowei is planning to acquire equity in Rongpai Semiconductor and has suspended trading of its stock [8] - Xiatun New Energy signed a strategic cooperation framework agreement with Zhongwei Co. to establish a long-term partnership in the supply chain for solid-state lithium battery materials [9] Group 4 - Lingyi Zhi Manufacturing is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy [10] - Baicheng Pharmaceutical received clinical trial approval for its innovative drug BIOS-0623-Z4, which targets cancer pain treatment [11] - Weide Information announced a preliminary transfer price of 40.33 yuan per share, representing a 26% discount to its closing price [12] Group 5 - Huayou Cobalt's subsidiary signed contracts with LGES for the supply of 76,000 tons of ternary precursor materials and 88,000 tons of ternary cathode materials from 2026 to 2030 [13] - Hubei Energy signed a cooperation agreement with the Xiangyang Municipal Government to invest 26.7 billion yuan in clean energy projects [14]

Investment Rating - The report maintains a "Buy" rating for the non-metallic building materials sector and an "Overweight" rating for the construction and engineering sector [5]. Core Insights - The Ministry of Industry and Information Technology and five other departments issued the "Building Materials Industry Steady Growth Work Plan (2025-2026)", focusing on quality and efficiency while prohibiting new capacity [2][3]. - The new plan emphasizes the need for coordinated efforts on both supply and demand sides, aiming to enhance profitability levels effectively [3]. - The plan sets a specific target for 2026, aiming for green building material revenue to exceed 300 billion yuan [2]. Summary by Sections Policy Background - The new plan is introduced against a backdrop of weak market demand and prominent structural issues in the building materials industry, contrasting with the previous plan which was released during the early recovery phase post-pandemic [2]. Overall Requirements - The current plan focuses on quality and efficiency, integrating technological and industrial innovation, and emphasizes strict control over new capacity while promoting traditional material upgrades and advanced inorganic non-metallic materials [2][3]. Main Goals - Unlike the previous plan, which set specific growth targets for industrial added value, the current plan does not set total industry targets but emphasizes improving profitability and achieving specific revenue goals for green materials [2]. Key Measures - The new plan prioritizes strengthening industry management and promoting the survival of the fittest, with a focus on strict capacity control in cement and glass production [2][3]. - It outlines specific development directions for advanced materials, including advanced glass, artificial crystals, and high-performance fibers, while promoting pilot platform construction and application verification [3]. Investment Recommendations - The report suggests focusing on companies in the new materials sector such as China Jushi, Guoen Co., Puyang Huicheng, Keda Manufacturing, Hongrun Construction, and Jiemai Technology, as well as companies in the infrastructure and real estate chain like China State Construction, Oriental Yuhong, and Anhui Conch Cement [4].

1 重大项目公告 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。 近期，本公司获得如下重大项目，现予公布供投资者参阅。 | 序号 | 项目获得单位 | 项目名称 | 项目金额 （亿元） | | --- | --- | --- | --- | | 一 | 房屋建筑 | | | | 1 | 中建八局 | 四川广汉三星堆文化旅游发展区项目 O+EPC (运 营＋设计、采购、施工总承包） | 35.1 | | 二 | 基础设施 | | | | 1 | 中建三局 | 湖北武汉市轨道交通 12 号线（江北段）工程丹 水池车辆段施工总承包 | 27.1 | | 项目金额合计 | | | 62.2 | | 项目金额合计/2024 | | 年度经审计营业收入 | 0.3% | 中国建筑股份有限公司董事会 证券代码：601668 证券简称：中国建筑 公告编号：临 2025-059 二〇二五年九月二十九日 ...