Market Overview - The housing construction sector declined by 1.18% on October 28, with Longyuan Construction leading the drop [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - Notable stock performances included: - Shangxin Development: Closed at 51.78, up 1.37% with a trading volume of 118,500 shares and a turnover of 611 million yuan - Ningbo Construction: Closed at 5.46, up 0.37% with a trading volume of 415,600 shares and a turnover of 226 million yuan - Longyuan Construction: Closed at 3.49, down 1.69% with a trading volume of 263,900 shares and a turnover of 92.97 million yuan [1] Capital Flow - The housing construction sector experienced a net outflow of 117 million yuan from institutional investors, while retail investors saw a net inflow of 74.19 million yuan [1] - Detailed capital flow for selected stocks showed: - Shangxin Development: Institutional net inflow of 61.87 million yuan, retail net outflow of 44.73 million yuan - Longyuan Construction: Institutional net outflow of 14.64 million yuan, retail net inflow of 11.27 million yuan [2]

Core Viewpoint - Ningbo Construction (601789.SH) reported a decline in revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The total operating revenue for the first three quarters reached 13.575 billion yuan, representing a year-on-year decrease of 5.69% [1] - The net profit attributable to shareholders of the parent company was 182 million yuan, down 16.93% year-on-year [1] - The basic earnings per share stood at 0.1557 yuan [1]

Core Insights - Ningbo Construction reported a revenue of 135.754 billion yuan for the first three quarters of 2025, representing a year-on-year decline of 5.69% [1] - The net profit attributable to shareholders was 182 million yuan, down 16.93% year-on-year [1] - Basic earnings per share decreased to 0.16 yuan, reflecting a year-on-year drop of 17.97% [1]

Financial Performance - The company's operating revenue for the third quarter was CNY 4,401,915,131.10, representing a year-on-year decrease of 5.69% compared to CNY 13,575,421,246.92 for the same period last year[5]. - Total profit for the quarter was CNY 78,560,719.63, down 38.51% from CNY 240,260,195.96 in the previous year[5]. - Net profit attributable to shareholders was CNY 52,082,687.21, a decrease of 31.18% compared to CNY 182,404,729.39 in the same period last year[5]. - The basic earnings per share for the quarter was CNY 0.0439, down 32.98% from CNY 0.1557 in the previous year[6]. - The net profit excluding non-recurring gains and losses was CNY 46,547,142.38, down 35.08% from CNY 159,751,509.56 in the previous year[5]. - The net profit for the first three quarters of 2025 is CNY 190,590,533.01, a decrease of 18.0% compared to CNY 232,518,889.19 in the same period of 2024[48]. - Operating profit for the first three quarters of 2025 is CNY 235,206,713.25, down from CNY 297,199,728.22 in 2024, reflecting a decline of 20.9%[48]. - The total comprehensive income for the first three quarters of 2025 is CNY 190,590,533.01, compared to CNY 232,518,889.19 in 2024, reflecting a decrease of 18.0%[48]. - Basic and diluted earnings per share for the first three quarters of 2025 are both CNY 0.1557, down from CNY 0.1898 in 2024[48]. Assets and Liabilities - Total assets at the end of the quarter were CNY 30,651,489,748.22, a decrease of 4.32% from CNY 32,035,262,076.88 at the end of the previous year[6]. - Current assets as of September 30, 2025, totaled CNY 21,914,917,282.75, down from CNY 23,833,141,846.35 at the end of 2024, a decline of 8.0%[42]. - Total liabilities as of September 30, 2025, were CNY 25,611,380,319.88, compared to CNY 26,596,302,722.55 at the end of 2024, a decrease of 3.7%[44]. - The company's cash and cash equivalents decreased to CNY 4,584,602,535.83 from CNY 5,547,965,925.31, a decline of 17.4%[42]. - The total equity attributable to shareholders was CNY 4,541,045,926.52 as of September 30, 2025, down from CNY 4,982,349,733.77 at the end of 2024, a decrease of 8.8%[44]. - Long-term borrowings increased to CNY 2,353,142,500.00 from CNY 1,970,677,465.55, reflecting a rise of 19.4%[44]. Cash Flow - The company's cash flow from operating activities showed a net outflow of CNY 562,184,916.91, compared to a net outflow of CNY 1,798,223,024.67 for the same period last year[5]. - The cash flow from operating activities for the first three quarters of 2025 is negative at CNY -1,798,223,024.67, slightly worse than CNY -1,776,535,269.74 in 2024[51]. - The company reported a total cash inflow from financing activities of CNY 7,867,161,126.86 in 2025, an increase of 52.9% from CNY 5,148,861,196.44 in 2024[51]. - The cash and cash equivalents at the end of the period are CNY 4,416,025,562.65, up from CNY 4,137,161,232.69 at the end of 2024[51]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 75,690[13]. - The largest shareholder, Ningbo Transportation Investment Group Co., Ltd., holds 292,000,000 shares, accounting for 26.87% of total shares[13]. - The company has a total of 292,000,000 unrestricted circulating shares held by the largest shareholder[14]. - The second-largest shareholder, Wu Qingsheng, holds 16,152,100 shares, representing 1.49%[14]. Legal Matters - The company has ongoing litigation with Jilin Baishan Hefeng Real Estate Co., Ltd. regarding a construction contract, with a disputed amount of 38,464,504.00 RMB[15]. - The company has received a total of 10 million RMB from Ningbo Xiangge Real Estate Development Co., Ltd. as part of a bankruptcy claim[16]. - The company is pursuing a claim of 39,432,865 RMB against Ningbo Qianhe Real Estate Co., Ltd. due to a construction contract dispute[19]. - The company has filed a claim of 89,687,437 RMB against the Fifth Hospital and Taicang Kanglaite Real Estate Co., Ltd. due to a construction contract dispute[20]. - The company has received a total of 54,468,885.59 RMB from the Fifth Hospital as part of the ongoing bankruptcy claim[20]. - The company is involved in multiple ongoing legal disputes related to construction contracts, with various amounts claimed across different cases[15][16][19][20]. Subsidiary Operations - The company’s subsidiary, Ningbo Construction Engineering Group, has a court ruling confirming that Aruya Company owes 62,171,140.91 CNY in project payments, with priority rights for recovery from auction proceeds[21]. - The company’s subsidiary, Municipal Group, was awarded 140,122,596.46 CNY in project payments and 10,595,879.67 CNY in penalties from Anshun Transportation Construction Investment, but the latter has not complied with the settlement agreement[23]. - The company’s subsidiary, Construction Group, has a court ruling requiring Yuyiao Shengjian to pay 110,741,369.72 CNY in project payments and interest, with priority rights for recovery[24]. - The company’s subsidiary, Construction Group, has been awarded 70,515,386.36 CNY in project payments and interest from Yuyiao Yucheng, with priority rights for recovery[25]. - The company’s subsidiary, Construction Group, has a court ruling confirming that Suihua Company owes 132,113,647.39 CNY in project payments and overdue interest, with priority rights for recovery[26]. - The company’s subsidiary, Construction Group, has been awarded 80,815,980.6 CNY in project payments and interest from Ningbo Hengyue Real Estate[28]. - The company’s subsidiary, Construction Group, has received a ruling for 54,478,214.14 CNY in project payments and interest from Yongyao Real Estate, with partial payments received[29]. - The company’s subsidiary, Construction Group, has a ruling for 73,997,377.80 CNY in damages and 4,243,631.94 CNY for renovation works from Hongdian Real Estate[30]. - The company has initiated legal proceedings against Taicang Kanglaite for 35,000,000 CNY, which is currently under appeal[30]. - The company’s subsidiary, Municipal Group, has been awarded 100,000,000 CNY in principal and interest from Kunming Urban Construction Investment[30]. - The company subsidiary, Jian Gong Group, is involved in a construction contract dispute, seeking payment of CNY 36,342,551.93 and corresponding interest from Pingyang Jincheng Real Estate Co., Ltd.[28]. - Jian Gong Group has a pending lawsuit against Ningbo Tongrun Ding Trading Co., Ltd. for steel material interest totaling CNY 41,206,397.86, with an additional interest of CNY 692,353.96 calculated until June 8, 2023, and has agreed to pay CNY 20 million as part of a court mediation.[29]. - Jian Gong Group has reached an agreement with Yuyao Guangtian Jianchang Real Estate Development Co., Ltd. for a payment of CNY 43,899,067.19, which is currently being executed.[30]. - The company has a court ruling requiring Ningbo Yudu Real Estate Co., Ltd. to pay CNY 241,351,398.76 and corresponding interest, with Evergrande Real Estate Group Shanghai Shengjian Real Estate Co., Ltd. bearing joint liability.[31]. - Jian Gong Group is pursuing a claim against Ningbo Xiangyuan Tourism Development Co., Ltd. for overdue construction payments of CNY 111,905,151.68, with additional claims for joint liability against related companies.[33]. Contracts and Projects - The company has signed significant contracts, including a total contract amount of CNY 78,680.48 million for an EPC project with Zhongnengjian Future Community Development (Ningbo) Co., Ltd.[37]. - The company has also entered into a contract for the construction of the East Extension of the Ring City South Road, with a contract amount of CNY 57,684.30 million.[38]. - The company is in the process of issuing shares to purchase assets, with the board meetings and shareholder approvals taking place in late 2024 and early 2025.[40]. Operating Costs - Total operating revenue for the first three quarters of 2025 was CNY 13,575,421,246.92, a decrease of 5.7% compared to CNY 14,393,943,582.97 in the same period of 2024[46]. - Total operating costs for the first three quarters of 2025 were CNY 13,265,053,088.38, down from CNY 13,986,650,708.95 in 2024, reflecting a reduction of 5.2%[46]. - Operating costs included CNY 12,332,749,266.66 in operating expenses for 2025, compared to CNY 13,019,346,766.35 in 2024, indicating a decrease of 5.3%[46].

Core Insights - The housing construction sector experienced a slight increase of 0.31% on October 27, with high-tech development leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Sector Performance - High-tech development (code: 000628) closed at 51.08, with a gain of 0.95% and a trading volume of 90,400 shares, amounting to a transaction value of 461 million [1] - China State Construction (code: 601668) closed at 5.74, up 0.53%, with a trading volume of 2,488,200 shares and a transaction value of 1.428 billion [1] - Chongqing Construction (code: 66009) remained unchanged at 3.41, with a trading volume of 109,400 shares and a transaction value of 37.068 million [1] - Zhejiang Construction Investment (code: 002761) closed at 9.40, down 0.11%, with a trading volume of 102,300 shares and a transaction value of 96.080 million [1] - Shaanxi Construction (code: 600248) closed at 3.95, down 0.25%, with a trading volume of 182,600 shares and a transaction value of 72.172 million [1] - Ningbo Construction (code: 601789) closed at 5.44, down 0.37%, with a trading volume of 289,200 shares and a transaction value of 158 million [1] - Shanghai Construction (code: 600170) closed at 2.89, down 0.69%, with a trading volume of 2,580,700 shares and a transaction value of 749 million [1] - Longyuan Construction (code: 600491) closed at 3.55, down 1.93%, with a trading volume of 349,800 shares and a transaction value of 125 million [1] Capital Flow - The housing construction sector saw a net outflow of 13.12 million from main funds, while speculative funds had a net inflow of 31.79 million, and retail investors experienced a net outflow of 18.67 million [1] - China State Construction had a main fund net inflow of 36.89 million, but a net outflow of 30.47 million from retail investors [2] - Shaanxi Construction had a main fund net inflow of 3.60 million, with a net outflow of 1.82 million from retail investors [2] - Longyuan Construction experienced a significant main fund net outflow of 9.13 million, while speculative funds had a net inflow of 4.70 million [2] - High-tech development saw a main fund net outflow of 11.52 million, with a small net inflow of 0.77 million from retail investors [2] - Shanghai Construction had a main fund net outflow of 24.60 million, with a net inflow of 4.64 million from retail investors [2]

Core Viewpoint - Ningbo Construction Co., Ltd. is set to hold a performance briefing for the first half and third quarter of 2025 on November 4, 2025, to enhance investor understanding of its financial results and operational performance [2][3]. Group 1: Performance Briefing Details - The performance briefing will take place on November 4, 2025, from 14:00 to 15:00 at the Shanghai Stock Exchange Roadshow Center [2][4]. - Investors can submit questions from October 28 to November 3, 2025, through the Roadshow Center website or via the company's email [2][5]. - The briefing will focus on the company's operational results and financial indicators for the first half and third quarter of 2025, allowing for interactive communication with investors [3][4]. Group 2: Contract Signing Information - From July to September 2025, the company and its subsidiaries signed 429 new contracts with a total value of approximately RMB 76.19 billion, representing an increase of 80.84% compared to the same period last year [7]. - As of September 2025, the cumulative number of new contracts signed by the company and its subsidiaries reached 1,143, with a total value of approximately RMB 177.73 billion, reflecting a year-on-year growth of 31.61% [7][8]. - Notable contracts signed during this period include a joint project where the company accounted for approximately RMB 77.89 million in new contract value [8].

Core Insights - The housing construction sector experienced a decline of 0.26% on October 24, with Chongqing Construction leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Sector Performance - The housing construction sector's individual stock performance showed mixed results, with Dragon Construction rising by 0.56% to a closing price of 3.62, while Chongqing Construction fell by 1.73% to 3.41 [1] - The trading volume and turnover for key stocks in the sector included: - Dragon Construction: 426,500 shares, turnover of 156 million yuan - China State Construction: 1,613,100 shares, turnover of 921 million yuan - Chongqing Construction: 156,400 shares, turnover of 53.42 million yuan [1] Capital Flow - The housing construction sector saw a net outflow of 55.39 million yuan from main funds, while speculative funds had a net inflow of 62.89 million yuan, and retail investors experienced a net outflow of 7.50 million yuan [1] - Detailed capital flow for individual stocks indicated: - Dragon Construction: Main funds net inflow of 34.36 million yuan, speculative funds net inflow of 11.10 million yuan, retail net outflow of 23.25 million yuan - Chongqing Construction: Main funds net outflow of 4.39 million yuan, retail net inflow of 4.99 million yuan [2]

Group 1 - The core point of the article is that Ningbo Construction (601789.SH) reported significant growth in new contracts signed in the third quarter of 2025, with a total of 429 contracts amounting to approximately RMB 76.19 billion, representing an increase of 80.84% compared to the same period last year [1] - As of September 2025, the company and its subsidiaries have signed a total of 1,143 new contracts for the year, with a cumulative contract value of approximately RMB 177.73 billion, reflecting a year-on-year growth of 31.61% [1]

宁波建工股份有限公司 2025 年第三季度新签合同情况公告 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个 别及连带责任。 证券代码：601789 证券简称：宁波建工 公告编号：2025-066 2025 年 7 月至 9 月，宁波建工股份有限公司（以下简称"公司"） 及下属子公司新签合同 429 个，合同金额累计约人民币 76.19 亿元，较 上年同期增长 80.84%，具体情况如下： | 项目 | 7-9 月新签合同 | 7-9 月新签合同 | 合同金额较上年 | | --- | --- | --- | --- | | | 数量（个） | 金额（万元） | 同期增减（％） | | 房屋建设 | 35 | 439,094.50 | 37.00 | | 基建工程 | 93 | 288,193.44 | 248.25 | | 专业工程 | 274 | 11,957.58 | 28.97 | | 建筑装饰 | 27 | 22,668.47 | 157.80 | | 合计 | 429 | 761,913.98 | 80.84 | 截至202 ...

证券代码：601789 证券简称：宁波建工 公告编号：2025-067 宁波建工股份有限公司 关于召开 2025 年半年度暨第三季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个别及连带责任。 重要内容提示： 会议召开时间：2025 年 11 月 04 日(星期二)下午 14:00-15:00 会议召开 地点：上海证券 交易所上 证路演中心（网址 ： http://roadshow.sseinfo.com/） 投资者可于 2025 年 10 月 28 日(星期二)至 11 月 03 日(星期 一)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 nbjg601789@163.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。 宁波建工股份有限公司（以下简称"公司"）已于 2025 年 8 月 26 日发布公司 2025 年半年度，并计划于 2025 年 10 月 28 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年半 年度及第三季 ...