中国电建公告称，2026年1月22日公司第四届董事会第十六次会议以通讯方式召开，9名董事参与表决。 会议审议通过多项议案，包括选举王小军为第四届董事会副董事长；由王小军担任第四届董事会战略委 员会委员，调整后的委员会主任为丁焰章，委员有王小军、张兆祥等；还通过2026年度投资计划，但该 计划尚需提交股东会审议批准。 ...

西藏天路公告称，2026年1月22日，公司第七届董事会第二十五次会议审议通过议案，同意授权董事长 在12个月内，以集中竞价方式择机出售持有的中国电建4176.94万股股票，占比0.24%，账面成本 21720.08万元。本次交易不构成关联交易和重大资产重组，未达股东会审议标准。减持计划存在时间、 数量、价格及是否按期完成的不确定性。 ...

Core Viewpoint - The data indicates significant outflows of capital from various stocks, with notable declines in share prices across multiple sectors, suggesting a bearish sentiment in the market. Group 1: Major Stocks with Capital Outflows - Xinyi Communication experienced a capital outflow of 1.23 billion, with a price drop of 7.98% [1][2] - Tebian Electric witnessed a capital outflow of 671 million, with a price decline of 2.5% [1][2] - Shanzi Gaoke had a capital outflow of 636 million, with a decrease of 4.8% [1][2] - Tianyin Electromechanical saw an outflow of 501 million, with a drop of 2.34% [1][2] - Kweichow Moutai experienced a capital outflow of 431 million, with a decline of 0.84% [1][2] Group 2: Additional Stocks with Notable Outflows - Baiwei Storage had a capital outflow of 388 million, with a price drop of 1.55% [1][2] - Fenghuo Communication saw an outflow of 363 million, with a slight increase of 0.19% [1][2] - Goldwind Technology experienced a capital outflow of 357 million, with a price increase of 0.54% [1][2] - Shannon Chip Creation had an outflow of 337 million, with a decline of 1.36% [1][2] - Agricultural Bank saw a capital outflow of 333 million, with a drop of 1.67% [1][2] Group 3: Further Stocks with Capital Outflows - China Satellite Communications experienced a capital outflow of 332 million, with a decline of 1.3% [3] - Shanghai Electric saw an outflow of 326 million, with a price drop of 2.7% [3] - Wuliangye experienced a capital outflow of 324 million, with a decline of 1.52% [3] - Shanghai Hanxun had an outflow of 303 million, with a drop of 2.15% [3] - Jiuding New Materials saw a capital outflow of 297 million, with a significant decline of 6.03% [3]

值得警惕的一个事项：期间的二级市场波动与影响入池资产发电量事项间的关联关系。 根据《关于2025年第4季度经营情况的临时公告》，2025年12月份，四川电网对九龙河流域梯级电站统一调度安排，要求上游电站需保持水库蓄能值不低 于90%，也是本季度发电量下降的另一主要原因。 2025年12月18日至2025年12月23日，在市场普遍回撤期间，"嘉实中国电建清洁能源REIT"累计回撤9.6%，超过多数REITs项目。 在能源新贵"嘉实中国电建清洁能源REIT"中提到：截止2026年1月16日，不考虑分红除权影响，时点市值16.608亿元，较发行值10.7亿元增长5.91亿元，增 幅达55.21%。成为清洁能源领域溢价率最高的REITs。 1、应披露而未披露的目的 按照前文影响发电量变化的几个要素来分析，临时信息披露应披露而未披露事项对于业绩完成度有较大影响。 随着2025年三季度报告的发布，部分REITs的业绩和二级市场的价值间形成了极大的差异；投资者对于资产创造的价值和二级市场的溢价率方面产生了较 多考量。部分早期参与投资者选择获利了结，从而造成二级市场持续回落。 "嘉实中国电建清洁能源REIT"自2024年3月 ...

沪深两市数据显示，1月20日，融资净买入前十的股票分别为： 浙文互联（2.65亿元）、 人民网（2.21 亿元）、 紫金矿业（2.14亿元）、 贵州茅台（1.95亿元）、 上海电力（1.63亿元）、 国电南瑞（1.52亿 元）、 航天电子（1.48亿元）、 中国电建（1.40亿元）、 长电科技（1.31亿元）、 包钢股份（1.28亿 元）。 ...

Group 1 - The core point of the article highlights the significant differences in profitability among four major state-owned enterprises (SOEs) under the State-owned Assets Supervision and Administration Commission (SASAC), with China Chemical achieving a net asset return rate of 6.46%, while China Energy Engineering only reached 2.66% [1] - China Chemical has the lowest financial leverage among the four SOEs, yet it leads in profitability efficiency, showcasing its strong technical moat [1] - China Electric Power Construction Corporation (China Electric) holds over half of the global hydropower construction rights and is a major player in wind power, with its satellite monitoring significant engineering projects across China [3] Group 2 - China Chemical's innovation includes producing a "fireproof suit" made of silicon-based aerogel for electric vehicles, which is in high demand from companies like Tesla and CATL [5] - China Energy Engineering has a substantial renewable energy base, with 20.28 million kilowatts of power stations, and is advancing in nuclear waste treatment technology [6] - China Nuclear Engineering is a leading nuclear power construction company, involved in high-profile projects like the ITER project in France and various domestic nuclear initiatives [8] Group 3 - Financial performance shows that China Chemical earns 6.46 per project, while China Electric earns 4.37, China Nuclear earns just over 3.30, and China Energy Engineering lags at 2.60 [10] - China Chemical's asset turnover rate is notably high, completing projects in half the time of its competitors due to modular construction techniques [12] - China Electric's order growth is at 19.7%, indicating a strong backlog of projects despite slower construction timelines [12] Group 4 - In the international market, China Electric secured a significant order for a power station in Indonesia, while China Chemical's project in Saudi Arabia has redefined cost structures in the region [15] - China Nuclear's projects, such as the Karachi nuclear power station, demonstrate its capability in high-stakes international contracts [15] - The financial details reveal that China Chemical has a high product quality rate of 98%, while China Electric is monetizing satellite data services [15]

Investment Rating - The investment rating for the construction and decoration industry is "Positive" (maintained) [3] Core Viewpoints - The report highlights that the power investment is entering an accelerated cycle during the "14th Five-Year Plan" period, with significant certainty in grid construction. The State Grid announced that its fixed asset investment is expected to reach a historical high of 4 trillion yuan from 2026 to 2030, a 40% increase compared to the "13th Five-Year Plan" period [4][12] - The investment plan will focus on strengthening the grid platform, accelerating the construction of ultra-high voltage direct current transmission channels, enhancing distribution network construction in urban and rural areas, and solidifying digital infrastructure [4][12] - The report suggests focusing on leading state-owned enterprises in construction that have the capability for power engineering general contracting and are deeply involved in grid and renewable energy construction, such as China Power Construction and China Energy Engineering [5][13] Summary by Sections Industry Performance - The report notes that the construction and decoration index increased by 0.27% during the week, with other professional engineering, steel structure, and engineering consulting services leading the gains [7][28] - The Shanghai Composite Index fell by 0.45%, while the Shenzhen Component Index and the ChiNext Index rose by 1.14% and 1.00%, respectively [7][28] Market Data Tracking - New special bonds issued this week amounted to 22.756 billion yuan, with a cumulative issuance of 1246.90 billion yuan, reflecting a year-on-year increase of 268.64% [6][35] - Urban investment bonds issued this week totaled 53.179 billion yuan, with a net financing amount of -35.399 billion yuan [6][35] Company Dynamics - The report includes a summary of company performance announcements, indicating various companies are forecasting losses for 2025, with some companies like China Power Construction and China Nuclear Engineering signing significant contracts [18][19] - The report highlights that companies such as China Power Construction and China Energy Engineering are expected to benefit from the high intensity of grid investment and the continuous expansion of renewable energy installations [5][13]

证券之星消息，1月20日基础建设板块较上一交易日上涨1.69%，中国电建领涨。当日上证指数报收于 4113.65，下跌0.01%。深证成指报收于14155.63，下跌0.97%。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) | | | --- | --- | --- | --- | --- | --- | --- | | 601669 | 中国电建 | 6.25 | 7.02% | 1124.81万 | | 68.63亿 | | 605303 | 园林股份 | 19.09 | 6.35% | 13.12万 | | 2.46亿 | | 600853 | 龙建股份 | 4.90 | 4.93% | 150.53万 | | 7.41亿 | | 002775 | 文科股份 | 4.57 | 3.16% | 76.21万 | | 3.51亿 | | 601868 | 中国能建 | 2.54 | 2.83% | 949.20万 | | 23.96亿 | | 601390 | 中国中铁 | 5.54 | 2.78% | 215.06万 | | 11.76亿 | ...

截至2026年1月20日14点17分，A股三大指数集体下挫，上证指数跌0.20%，深证成指跌1.25%，创业板 指跌2.16%。基建ETF华夏（159635）逆势上涨2.08%，最新报价1.178元，创近一个月新高，盘中换手 率打34.78%。成分股方面涨跌互现，中国电建领涨8.56%，鸿路钢构上涨7.53%，中国化学上涨7.38%， 山推股份上涨3.29%，中国能建上涨3.24%。 （文章来源：每日经济新闻） 从估值层面来看，中证基建指数最新市盈率（PE-TTM）仅10.04倍，处于近10年40.47%的分位，估值适 中，适合低位布局。 ...

Core Insights - The main focus of the news is on the significant inflow of capital into various stocks, highlighting the top 20 stocks with the highest capital inflow as of January 20, with specific amounts listed for each company [1][2][3] Group 1: Stock Performance - China Power Construction saw a capital inflow of 690 million yuan with a price increase of 6.85% [2] - Shanghai Electric experienced a capital inflow of 624 million yuan and a price increase of 8.22% [2] - Contemporary Amperex Technology reported a capital inflow of 509 million yuan with a modest price increase of 0.34% [2] - China Duty Free Group had a capital inflow of 460 million yuan and a price increase of 2.74% [2] - Sanzi Gaoke recorded a capital inflow of 441 million yuan with a price increase of 6.1% [2] Group 2: Industry Insights - The engineering sector, represented by China Power Construction, is showing strong investor interest with significant capital inflow [2] - The electric power industry, highlighted by Shanghai Electric, is also attracting substantial investments [2] - The battery industry, represented by Contemporary Amperex Technology, is experiencing steady capital inflow despite a small price increase [2] - The tourism and liquor sector, represented by China Duty Free Group, is seeing positive capital movement [2] - The automotive parts sector, represented by Sanzi Gaoke, is gaining traction with notable capital inflow [2]