Core Insights - The housing construction sector saw a 0.53% increase on November 20, with Zhejiang Construction leading the gains [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Stock Performance - Zhejiang Construction (002761) closed at 9.51, up 1.28% with a trading volume of 235,100 shares and a turnover of 224 million yuan [1] - China State Construction (601668) closed at 5.33, up 0.76% with a trading volume of 2,074,700 shares and a turnover of 1.104 billion yuan [1] - Shaanxi Construction (600248) closed at 3.80, up 0.53% with a trading volume of 172,900 shares and a turnover of 65.466 million yuan [1] - Other notable performances include Shanghai Construction (600170) at 2.84, unchanged, and Ningbo Construction (601789) at 5.43, down 2.69% [1] Capital Flow - The housing construction sector experienced a net outflow of 9.0754 million yuan from institutional investors and 18.555 million yuan from speculative funds, while retail investors saw a net inflow of 27.6304 million yuan [1] - Detailed capital flow for key stocks shows that China State Construction had a net inflow of 94.0121 million yuan from institutional investors, while Zhejiang Construction had a net outflow of 4.6870 million yuan [2] - Chongqing Construction (600939) had a net inflow of 26.6179 million yuan from institutional investors, indicating strong interest [2]

中国经济网北京11月20日讯上海证券交易所并购重组审核委员会2025年第18次审议会议于2025年11月19 日召开，审议结果显示，宁波建工（601789）股份有限公司(简称：宁波建工，601789.SH)发行股份购 买资产符合重组条件和信息披露要求。 重组委会议现场问询的主要问题 1.请上市公司代表结合标的公司所处行业、财政支出政策、应收款项回款周期、经营活动现金流、逾期 客户信用及同行业可比公司情况，说明标的公司应收款项回收是否存在重大不确定性，评估估值是否公 允。请独立财务顾问代表和评估师代表发表明确意见。 2.请上市公司代表结合标的公司成本归集、投入法收入确认及相关内部控制等，说明标的公司报告期各 年度收入确认金额与相应中期计量支付证书存在差异的原因及合理性。请独立财务顾问代表和会计师代 表发表明确意见。 宁波建工表示，本次交易尚需经中国证券监督管理委员会同意注册后方可实施。本次交易能否取得注 册，以及取得注册的时间存在不确定性，公司将根据本次交易的进展情况及时履行信息披露义务。 宁波建工于11月13日发布的《发行股份购买资产暨关联交易报告书(草案)(上会稿)》显示，本次交易方 案为上市公司向宁波交通 ...

Group 1 - Ningbo Construction announced plans to acquire 100% equity of Ningbo Transportation Engineering Construction Group through a share issuance [2] - The Shanghai Stock Exchange's M&A Review Committee held a meeting on November 19, 2025, to review the transaction application, concluding that it meets restructuring conditions and information disclosure requirements [2] - The transaction is subject to approval and registration by the China Securities Regulatory Commission, with uncertainties regarding the timing of registration [2]

宁波建工股份有限公司 关于发行股份购买资产暨关联交易事项 获得上海证券交易所并购重组审核委员会审核通过的公告 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。 宁波建工股份有限公司（以下简称"公司"）拟通过发行股份方式购买 宁波交通工程建设集团有限公司 100%股权（以下简称"本次交易"）。 证券代码：601789 证券简称：宁波建工 公告编号：2025-079 上海证券交易所并购重组审核委员会（以下简称"上交所重组委"）于 2025 年 11 月 19 日召开 2025 年第 18 次并购重组审核委员会审议会议，对 公司本次交易的申请进行了审议。根据上交所重组委发布的《上海证券交 易所并购重组审核委员会 2025 年第 18 次审议会议结果公告》，本次会议的 审议结果为：本次交易符合重组条件和信息披露要求。 本次交易尚需经中国证券监督管理委员会同意注册后方可实施。本次 交易能否取得注册，以及取得注册的时间存在不确定性，公司将根据本次 交易的进展情况及时履行信息披露义务。公司指定信息披露媒体为上交所 网站（http://www ...

格隆汇11月19日丨宁波建工(601789.SH)公布，上海证券交易所并购重组审核委员会（以下简称"上交所 重组委"）于2025年11月19日召开2025年第18次并购重组审核委员会审议会议，对公司本次交易的申请 进行了审议。根据上交所重组委发布的《上海证券交易所并购重组审核委员会2025年第18次审议会议结 果公告》，本次会议的审议结果为：本次交易符合重组条件和信息披露要求。 ...

二〇二五年第一次临时股东大会 会议资料 二〇二五年十一月二十六日 目 录 1 主持人：公司董事长 宁波建工股份有限公司 2025 年 11 月 26 日 3 一、会议签到，发放会议资料 二、会议主持人介绍股东到会情况，宣布会议开始 三、会议审议下列议案： （一）关于接受控股股东担保并向其提供反担保的议案 （二）关于注册发行中期票据的议案 （三）关于取消监事会、修订《公司章程》的议案 （四）关于修订、废止公司治理制度的议案 四、推举计票人、监票人 五、对大会议案进行投票表决 六、收集表决票并计票，宣布表决结果 七、宣读股东大会决议 八、律师发表见证意见 九、宣布股东大会闭幕 一、宁波建工股份有限公司 2025 年第一次临时股东大会会议议程 2 二、宁波建工股份有限公司 2025 年第一次临时股东大会会议议案： （一）关于接受控股股东担保并向其提供反担保的议案 （二）关于注册发行中期票据的议案 （三）关于取消监事会、修订《公司章程》的议案 （四）关于修订、废止公司治理制度的议案 宁波建工股份有限公司 2025 年第一次临时股东大会会议议程 现场会议开始时间：2025 年 11 月 26 日下午 14:30 召开地 ...

以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 从资金流向上来看，当日房屋建设板块主力资金净流出2.46亿元，游资资金净流入3809.01万元，散户资 金净流入2.08亿元。房屋建设板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600939 重庆建工 | | -362.70万 | -2.38% | -174.46万 | -1.14% | 537.16万 | 3.52% | | 601668 中国建筑 | | -371.30万 | -0.43% | -1277.02万 | -1.49% | 1648.32万 | 1.93% | | 002761 浙江建投 | | -758.41万 | -5.86% | -224.03万 | -1.73% | 982.44万 | 7.58% | | 600491 龙元建设 | | - ...

Core Insights - The housing construction sector experienced a decline of 1.64% on November 18, with Chongqing Construction leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Sector Performance - The housing construction sector saw a net outflow of 416 million yuan from institutional investors, while retail investors contributed a net inflow of 315 million yuan [1] - The following companies showed notable price changes: - Gaoxin Development: Closed at 45.73, down 0.76% with a trading volume of 39,800 shares and a turnover of 183 million yuan [1] - Shaanxi Construction: Closed at 3.81, down 0.78% with a trading volume of 220,200 shares and a turnover of 83.86 million yuan [1] - Ningbo Construction: Closed at 5.74, down 1.20% with a trading volume of 531,800 shares and a turnover of 304 million yuan [1] - China State Construction: Closed at 5.28, down 1.68% with a trading volume of 3,044,400 shares and a turnover of 1.615 billion yuan [1] - Shanghai Construction: Closed at 2.92, down 1.68% with a trading volume of 5,390,600 shares and a turnover of 1.568 billion yuan [1] - Zhejiang Construction Investment: Closed at 9.46, down 1.97% with a trading volume of 207,400 shares and a turnover of 197 million yuan [1] - Longyuan Construction: Closed at 3.27, down 2.10% with a trading volume of 260,400 shares and a turnover of 85.86 million yuan [1] - Chongqing Construction: Closed at 3.72, down 2.87% with a trading volume of 598,300 shares and a turnover of 223 million yuan [1] Fund Flow Analysis - The fund flow data indicates that institutional investors had significant outflows in several companies, including: - Shaanxi Construction: Net outflow of 7.00 million yuan, representing 8.35% of total funds [2] - Chongqing Construction: Net outflow of 6.41 million yuan, representing -2.88% of total funds [2] - Ningbo Construction: Net outflow of 13.91 million yuan, representing -4.57% of total funds [2] - Zhejiang Construction Investment: Net outflow of 17.91 million yuan, representing -9.10% of total funds [2] - Longyuan Construction: Net outflow of 20.28 million yuan, representing -23.62% of total funds [2] - Gaoxin Development: Net outflow of 21.47 million yuan, representing -11.74% of total funds [2] - Shanghai Construction: Net outflow of 95.72 million yuan, representing -6.10% of total funds [2] - China State Construction: Net outflow of 24.71 million yuan, representing -15.31% of total funds [2]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The report emphasizes the importance of the Western Land-Sea New Corridor, with Chongqing as a key node, facilitating global access through various transportation methods. The cargo volume and value from January to October reached 272,300 TEUs and 48.962 billion yuan, respectively, marking increases of 33% and 27% year-on-year. The network has expanded to 581 ports across 127 countries and regions, covering over 1,300 product types [1][11] - In the construction materials sector, four key points are identified for addressing the downturn: low market share and high growth potential, discovering new demands for existing products, developing second business lines, and fostering innovation to create high-barrier business models. The report highlights that the difficulty of these points increases, particularly in innovation [2][12] - The report identifies several companies as potential investment opportunities, including Keda Manufacturing, Huaxin Cement, and China National Building Material, among others, focusing on both domestic and overseas markets [13] Summary by Sections Weekly Discussion - The report discusses the Western Land-Sea New Corridor and its significance in enhancing trade and logistics, with a focus on the expected completion by 2025 and the ongoing construction of the Pinglu Canal [1][11] Cyclical Linkage - Cement prices averaged 352 yuan/ton, down 74 yuan/year-on-year, with a national average shipment rate of 46.2%. Glass prices were reported at 1,195.35 yuan/ton, with a slight decrease. The report also covers trends in concrete, fiberglass, aluminum, and steel, indicating a mixed outlook for these materials [3][14] Market Performance - The construction materials index showed a performance of -0.97%, with specific segments like glass manufacturing and fiberglass experiencing declines, while consumer building materials and pipe materials saw positive growth [17][18] Price Changes in Construction Materials - Cement prices showed a slight increase of 0.3% week-on-week, with regional variations. The report notes a general upward trend in prices due to seasonal demand and efforts to enhance profitability [20][23] - The floating glass market is described as stable but weak, with prices slightly declining. The report indicates that inventory levels are increasing, and market sentiment is cautious [32][47]

Market Overview - The housing construction sector experienced a decline of 0.16% on November 14, with high-tech development leading the losses [1] - The Shanghai Composite Index closed at 3990.49, down 0.97%, while the Shenzhen Component Index closed at 13216.03, down 1.93% [1] Stock Performance - Notable stock performances included: - Chongqing Construction (600939) rose by 2.09% to a closing price of 3.91, with a trading volume of 1.051 million shares and a turnover of 411 million yuan [1] - Shanghai Construction (600170) increased by 0.67% to 66.2, with a trading volume of 4.166 million shares and a turnover of 1.247 billion yuan [1] - Longyuan Construction (600491) saw a 0.60% increase to 3.36, with a trading volume of 260,700 shares and a turnover of 87.706 million yuan [1] - High-tech Development (000628) decreased by 0.61% to 45.39, with a trading volume of 40,700 shares and a turnover of 186 million yuan [1] Capital Flow - The housing construction sector had a net inflow of 18.8147 million yuan from main funds, while retail funds saw a net outflow of 10.9264 million yuan [1] - Detailed capital flow for selected stocks included: - Shanghai Construction (600170) had a main fund net inflow of 27.0481 million yuan, while retail funds saw a net outflow of 402.92 thousand yuan [2] - Chongqing Construction (600939) experienced a main fund net inflow of 13.4438 million yuan, with retail funds net outflow of 141.29 thousand yuan [2] - Longyuan Construction (600491) had a main fund net outflow of 325.21 thousand yuan, but retail funds saw a net inflow of 269.64 thousand yuan [2] - High-tech Development (000628) faced a main fund net outflow of 506.74 thousand yuan, while retail funds had a net inflow of 643.70 thousand yuan [2]