| 证券代码：603018 | 证券简称：华设集团 | 公告编号：2025-060 | | --- | --- | --- | | 转债代码：113674 | 转债简称：华设转债 | | 2、审议通过《关于制定、修订公司部分制度的议案》 华设设计集团股份有限公司 第五届董事会第二十七次会议决议公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、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。 一、董事会会议召开情况 华设设计集团股份有限公司第五届董事会第二十七次会议于2025年12月10 日在公司AB507会议室（南京市秦淮区紫云大道9号）召开，会议由董事长杨卫 东召集并主持。本次会议通知于2025年12月1日以书面和邮件方式送达各位董 事。本次会议应出席董事9名，实际出席9名。会议采用现场与通讯表决方式进 行。会议的召开符合《中华人民共和国公司法》及《华设设计集团股份有限公 司章程》的规定。公司监事和董事会秘书列席了会议。 二、董事会会议审议情况 1、审议通过《关于取消监事会并修订<公司章程>及其附件的议案》 具体内容详见公司同日在上海证券交易所网站（www.sse.c ...

Core Insights - The company has established a strategic partnership with WoFei ChangKong to develop a comprehensive solution for low-altitude flight commercialization and a new integrated transportation network by November 2024 [2] - The company has set up the Anhui Huashe Yunsong Venture Capital Fund to participate in investments related to this initiative [2] - The company is focusing on low-altitude as a key development direction and plans to establish the Huashe Low-altitude Technology Group by March 2025, concentrating on areas such as planning, operation, scenario development, equipment research and manufacturing, and testing [2]

Group 1 - The report maintains a positive outlook on the construction and decoration industry, emphasizing the sustained growth policies and the favorable economic environment in the western regions of China, particularly in Xinjiang and Sichuan [5][12][22] - The "14th Five-Year Plan" is expected to drive high-quality development in domestic infrastructure investment, with significant projects like the Yarlung Tsangpo River downstream hydropower project and the Duku Highway in Xinjiang set to commence construction [10][11][15] - The report highlights the importance of new infrastructure needs, including the construction of a modern energy system and the development of smart transportation systems, which are anticipated to create new investment opportunities for companies in the sector [25][26] Group 2 - The report identifies key companies that are likely to benefit from the infrastructure boom in Xinjiang, such as Xinjiang Communications Construction, Qingsong Construction, and China Chemical Engineering, due to their involvement in major projects [14][16][19] - The coal chemical industry in Xinjiang is entering a phase of accelerated investment, with numerous projects planned or under construction, which is expected to enhance the operational performance of companies like China Metallurgical Group and China Railway Group [17][19][20] - The report notes that the Belt and Road Initiative continues to present overseas construction opportunities, with significant growth in new orders for major state-owned enterprises in both domestic and international markets [5][19][22] Group 3 - The report emphasizes the potential for companies involved in the new energy sector, as the government aims to construct a new energy system and achieve carbon peak goals, creating opportunities for firms engaged in renewable energy projects [25][26] - Companies like Suzhou Transportation Science and Technology and Huase Group are highlighted for their roles in the emerging low-altitude economy, which is expected to see accelerated development in infrastructure and operational capabilities [5][25] - The report discusses the rising prices of key minerals such as gold, copper, and cobalt, suggesting that companies involved in mineral resource development, like China Metallurgical Group and China Railway Group, may see increased value from their operations [17][19][22]

| 证券代码：603018 | 证券简称：华设集团 | 公告编号：2025-059 | | --- | --- | --- | | 转债代码：113674 | 转债简称：华设转债 | | 华设设计集团股份有限公司 经上海证券交易所（以下简称"上交所"）自律监管决定书[2023]182 号文 同意，公司发行的 40,000.00 万元可转换公司债券于 2023 年 8 月 15 日在上交所 1 / 4 华设设计集团股份有限公司（以下简称"公司"或"本公司"）拟将 "华设转债"的转股来源由"新增股份"变更为"优先使用回购股份 转股，不足部分使用新增股份"。 当前转股价格：8.45 元/股 转股起止日期：自 2024 年 1 月 29 日至 2029 年 7 月 20 日 回购股份作为转股来源生效日期：2025 年 11 月 28 日 挂牌交易，债券简称"华设转债"，债券代码"113674"。 根据有关法律法规的规定及《华设设计集团股份有限公司向不特定对象发 行可转换公司债券并在主板上市募集说明书》的约定，公司本次发行的"华设 转债"自 2024 年 1 月 29 日起可转换为本公司股份，"华设转债"初始转股价 格 ...

| 证券代码：603018 | 证券简称：华设集团 | 公告编号：2025-058 | | --- | --- | --- | | 转债代码：113674 | 转债简称：华设转债 | | 华设设计集团股份有限公司 关于选举职工董事的公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、误导性陈述或 华设设计集团股份有限公司（以下简称"公司"）职工代表大会于2025年11 月27日在公司E3会议室召开，会议由公司董事、董事会秘书、工会主席胡安兵 先生主持。本次会议的召集、召开和表决程序符合《中华人民共和国公司法》 等有关法律、法规和《公司章程》的有关规定。 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。 翟剑峰，男，1975年9月生，中国国籍，无永久境外居留权，研究员级高级 工程师。1997年7月河海大学环境工程专业本科毕业，2000年3月河海大学环境 工程专业硕士毕业。同年到江苏纬信工程咨询有限公司工作，历任江苏纬信项 目经理、部门经理。2010年7月起任江苏省交通规划设计院股份有限公司水运技 术研究所所长。2011年2月任水运技术研究中心常务副主任，2014年2月任主任。 2016年 ...

Core Viewpoint - The company announced a change in the source of conversion for its "Huashe Convertible Bonds" from "newly issued shares" to "priority use of repurchased shares for conversion, with any shortfall covered by newly issued shares" effective from 2025 [1] Summary by Sections - As of September 30, 2025, a total of 135,000 "Huashe Convertible Bonds" have been converted, resulting in the issuance of 15,451 shares, which represents 0.0023% of the total [1] - The unconverted amount of the bonds stands at 399.865 million, accounting for 99.9663% of the total [1] - The company has repurchased a total of 7,040,020 shares across two batches from 2022 to 2024, and has established a designated repurchase account to serve as the conversion account for the convertible bonds [1]

Core Insights - Zhejiang's highway service areas are evolving from mere rest stops to vibrant cultural and service hubs, enhancing the travel experience for various user groups [1][5][9] Group 1: Service Enhancements - The "Driver's Home" concept has been significantly upgraded, with 47 locations established, a 176% increase, and facilities including 417 shower rooms and 252 washing machines [2][3] - New affordable dining options will be introduced in several service areas starting July 2024, aiming to provide better meal choices for drivers [2] - The introduction of standardized "Mommy Warm Heart Rooms" and "Chongjun Stations" for military personnel reflects a commitment to diverse user needs [3][4] Group 2: Cultural Integration - Service areas are being designed to reflect local culture, with unique themes such as the "Book Scroll and Beautiful Shaoxing" in Shaoxing and "Jiangnan First Breakfast" in Lankai [5] - The Kinhwa service area has seen a 180% increase in average visitor time and a 32.94% rise in revenue due to its themed design and interactive experiences [5] Group 3: Green Transformation - The number of charging stations for electric vehicles has surged to 3,249, a more than ninefold increase since the end of the 13th Five-Year Plan, addressing the growing demand for EV charging [9][11] - The implementation of renewable energy solutions, such as solar panels and wind turbines, has turned service areas into self-sufficient energy hubs, with projects like the Cidu service area generating significant green electricity [11]

Economic Overview - High-frequency data indicates that automotive consumption remains strong, benefiting from tax incentives and subsidies, while textile and film consumption is weak[7] - Real estate sales and land market show signs of fatigue, with infrastructure special bonds fully issued but project progress lagging[7] - Exports to South Korea are recovering, while import demand weakens post shopping festival[7] Market Performance - Major global asset prices have declined, with the Hang Seng Index dropping 5.1%, the largest decline among major indices[9] - The S&P 500 Index fell by 1.9%, while the Shanghai Composite Index decreased by 3.9%[9] - The 10-year U.S. Treasury yield fell by 8 basis points to 4.06%[9] Federal Reserve Insights - The U.S. added 119,000 non-farm jobs in September, significantly exceeding expectations of 51,000[12] - The unemployment rate rose to 4.4%, higher than the expected 4.3%[12] - Federal Reserve officials exhibit significant internal disagreement regarding future monetary policy direction[8] Investment Strategies - ETF inflows have increased significantly to 503 billion, while foreign and financing funds have seen outflows[15] - The market's trading activity has decreased, with average daily turnover dropping to 1.9 trillion[14] - The risk appetite remains low, with the overall market sentiment declining[14] Sector Analysis - The technology sector is expected to benefit from AI advancements, with recommendations for investments in internet and computing sectors[35] - The financial sector is poised for recovery, with a focus on brokerage and insurance stocks[35] - Consumer stocks are seen as undervalued, with potential growth in food and beverage sectors[35]

Core Insights - 华设集团's stock price increased by 0.13% on November 20, with a trading volume of 38.71 million yuan [1] - The company experienced a net financing outflow of 2.32 million yuan on the same day, indicating a decrease in investor confidence [1][2] - The company's revenue for the first nine months of 2025 was 2.54 billion yuan, a year-on-year decrease of 5.52%, while net profit fell by 19.99% to 186 million yuan [2] Financing and Margin Trading - On November 20, 华设集团 had a financing buy-in of 2.61 million yuan, with a total financing balance of 298 million yuan, representing 5.68% of its market capitalization [1] - The financing balance is below the 50th percentile level over the past year, indicating a relatively low level of leverage [1] - The company had a margin trading balance of 219,400 yuan, with a short selling volume of 300 shares on November 20 [1] Shareholder and Dividend Information - As of November 10, the number of shareholders increased by 1.26% to 30,500, while the average number of circulating shares per person decreased by 1.24% to 22,400 shares [2] - Since its A-share listing, 华设集团 has distributed a total of 1.25 billion yuan in dividends, with 455 million yuan distributed over the past three years [3] - Notably, two institutional investors exited the top ten circulating shareholders list as of September 30, 2025 [3]

Group 1 - The new policy financial tools have been fully deployed, supporting private investment and REITs issuance [2] - As of October 29, 500 billion yuan of new policy financial tools have been allocated, with a portion supporting key private investment projects [2] - A total of 18 private investment projects have been recommended to the CSRC, with 14 projects already issued, raising nearly 30 billion yuan [2] Group 2 - The central bank aims to maintain reasonable price levels and ensure steady growth, employment, and expectations [3] - In October, new social financing amounted to 815 billion yuan, a year-on-year decrease of 597 billion yuan [3] - The central bank emphasizes the importance of promoting reasonable price recovery as a key consideration in monetary policy [3] Group 3 - The National Energy Administration has issued guidelines to promote the integrated development of renewable energy [4] - The guidelines aim to enhance the complementary development of various renewable energy sources and optimize energy structures [4] - There is a focus on improving the collaborative development of wind, solar, hydrogen, and storage technologies [4] Group 4 - Recommendations include sectors such as copper and cobalt resources, energy storage, dividends, and infrastructure in the western region [5] - Specific stock recommendations include China Railway (601390) for copper, China Metallurgical (601618) for nickel, and China Construction (601668) for low valuation and high dividends [5] - The report also highlights opportunities in AI and low-altitude economy sectors, recommending companies like Design Institute (603357) and Huazhong International (002949) [5]