Core Viewpoint - The construction of major transportation projects, such as the He-Ruo Railway, is significantly enhancing regional economic development and improving connectivity in China, particularly in remote areas like Xinjiang [1][5]. Group 1: Transportation Infrastructure Development - The He-Ruo Railway, built by China Railway Construction Corporation, has transformed the previously inaccessible Taklamakan Desert region into a vital economic corridor, ending the history of no train access for five counties [1]. - The railway construction faced extreme challenges, with 460 kilometers traversing a desert with no water, electricity, or roads, showcasing the engineering capabilities of state-owned enterprises [1][2]. - The introduction of innovative construction techniques, such as the "bridge instead of road" approach, has significantly reduced transportation distances by over 1,000 kilometers [2]. Group 2: Investment and Economic Impact - From 2021 to 2024, state-owned enterprises (SOEs) completed fixed asset investments totaling 19 trillion yuan, with an average annual growth rate of 6.3% [5]. - The opening of the He-Ruo Railway has reduced transportation costs for local products by over 20%, boosting tourism and local economies [15]. - The completion of the Changtai Yangtze River Bridge has drastically cut travel time between Changzhou and Taizhou from 1 hour and 20 minutes to approximately 20 minutes, enhancing local connectivity [4][15]. Group 3: Technological Innovation - SOEs are leading in technological advancements, with the introduction of the world's largest diameter shield tunneling machine and innovations in high-speed rail technology, such as the development of high-speed train wheels that improve performance [9][11]. - The use of advanced construction methods and equipment has resulted in significant time savings in infrastructure projects, with some urban subway construction periods reduced by 1 to 2 years [9][11]. - SOEs have been involved in 22 major national technology projects, contributing to the development of key products in the manufacturing sector [13]. Group 4: Future Outlook - The investment focus of SOEs is expected to shift towards high-quality development, optimizing multi-modal transportation structures, and integrating smart and green technologies into infrastructure [7]. - The ongoing development of transportation infrastructure is anticipated to further enhance economic opportunities and improve the quality of life for citizens [17].

Market Overview - On September 19, the professional services sector declined by 0.26%, with Jianyan Institute leading the drop [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Stock Performance - Notable gainers in the professional services sector included: - Fengshang Culture (300860) with a closing price of 29.40, up 2.26% [1] - Shengke Nano (688757) at 31.42, up 1.85% [1] - Keri International (300662) at 30.83, up 1.58% [1] - Significant decliners included: - Jianyan Institute (603183) at 4.47, down 4.08% [2] - Xince Standard (300938) at 25.85, down 2.67% [2] - Su Shi Testing (300416) at 17.46, down 2.62% [2] Capital Flow - The professional services sector experienced a net outflow of 26.95 million yuan from institutional investors, while retail investors saw a net inflow of 30.15 million yuan [2] - The capital flow for key stocks showed: - Anke Detection (300572) had a net inflow of 45.03 million yuan from institutional investors [3] - Lihua Technology (002243) saw a net inflow of 16.29 million yuan from institutional investors [3] - Jianyan Institute (603183) had a net inflow of 6.39 million yuan from institutional investors [3]

Market Overview - The Shanghai Composite Index decreased by 0.03% at the close, with a trading volume of 979.60 million shares and a turnover of 15,108.13 billion yuan, representing a 12.16% decrease from the previous trading day [1] Industry Performance - The coal industry showed the highest increase at 1.97%, with a transaction amount of 111.71 billion yuan, up 41.65% from the previous day, led by Huayang Co., which rose by 8.09% [1] - The defense and military industry increased by 1.66%, with a transaction amount of 431.15 billion yuan, up 6.87%, led by Guorui Technology, which rose by 9.99% [1] - The non-ferrous metals sector rose by 1.42%, with a transaction amount of 597.97 billion yuan, down 14.34%, led by Ganfeng Lithium, which increased by 10.00% [1] - The automotive sector experienced the largest decline at 1.63%, with a transaction amount of 1,040.70 billion yuan, down 7.43%, led by Haon Automotive, which fell by 11.48% [2] - The pharmaceutical and biological sector decreased by 1.04%, with a transaction amount of 682.17 billion yuan, down 8.78%, led by Saily Medical, which fell by 6.22% [2] - The real estate sector declined by 0.97%, with a transaction amount of 242.96 billion yuan, down 8.46%, led by Suning Universal, which decreased by 10.12% [2]

Market Overview - On September 17, the professional services sector experienced a slight decline of 0.01%, with Anbang Huwei leading the drop [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Stock Performance - Notable gainers in the professional services sector included: - Anche Detection (300572) with a closing price of 28.77, up 5.77% and a trading volume of 227,500 shares, totaling 648 million yuan [1] - Xince Standard (300938) closed at 27.28, up 5.33% with a trading volume of 209,400 shares, totaling 565 million yuan [1] - Other gainers included Shishi Testing (300416), Lihua Technology (002243), and Shengke Nano (688757) with respective increases of 2.86%, 1.53%, and 1.41% [1] - Conversely, the following stocks faced declines: - Anbang Huwei (603373) closed at 50.28, down 4.23% with a trading volume of 34,800 shares, totaling 177 million yuan [2] - Shicun Testing (301228) and Miao Exhibition (300795) also saw declines of 3.36% and 2.36% respectively [2] Capital Flow - The professional services sector saw a net outflow of 83.28 million yuan from institutional investors, while retail investors contributed a net inflow of 108 million yuan [2] - Detailed capital flow for selected stocks showed: - Anche Detection had a net inflow of 69.82 million yuan from institutional investors, while retail investors had a net outflow of 34.72 million yuan [3] - Lihua Technology and Xince Standard also experienced net inflows from institutional investors, but retail investors showed mixed results [3]

证券代码：603183 证券简称：建研院 公告编号：2025-023 苏州市建筑科学研究院集团股份有限公司 关于 2025 年半年度业绩说明会召开情况的公告 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。 为了便于广大投资者更全面、深入地了解苏州市建筑科学研究院集团股份有 限公司（以下简称"公司"或"本公司"）2025年半年度业绩和经营情况，公司于 2025年 9月16 日（星期二）中午 11:00-12:00，通过上海证券交易所上证路 演中心（网址： http://roadshow.sseinfo.com），以网络文字互动方式，召开了 2025年半年度业绩说明会，就投资者普遍关心的问题进行了互动交流。现将本次 业绩说明会有关情况公告如下： 二、本次业绩说明会投资者提出的主要问题及公司的回复情况 公司就投资者在本次业绩说明会上提出的问题进行了回复，具体问题及回复 整理如下： 1、投资者提问：公司 2025 年上半年业绩同比出现较大幅度下降。请问：（1） 公司所处行业的经营环境或景气度是否已发生较大不利变化？目前在手订单金 ...

Core Viewpoint - The stock price of Jianyan Institute has shown fluctuations, with a recent decline of 2.21% and a year-to-date increase of 15.56%, indicating mixed investor sentiment and market performance [1][2]. Financial Performance - As of June 30, Jianyan Institute reported a revenue of 324 million yuan, a year-on-year decrease of 12.06%, and a net profit attributable to shareholders of 3.1991 million yuan, down 83.08% year-on-year [3]. - The company has distributed a total of 167 million yuan in dividends since its A-share listing, with 55.7615 million yuan distributed over the past three years [4]. Stock Market Activity - The stock has experienced a net outflow of 1.1446 million yuan in principal funds, with significant selling pressure observed [1]. - Jianyan Institute has appeared on the "Dragon and Tiger List" once this year, with a net purchase of 41.9185 million yuan on March 17, accounting for 34.32% of total trading volume [2]. Shareholder Information - The number of shareholders as of June 30 is 24,600, a decrease of 11.63% from the previous period, while the average circulating shares per person increased by 13.16% to 20,242 shares [3]. Business Overview - Jianyan Institute, established on March 28, 1990, and listed on September 5, 2017, operates in various sectors including engineering design, testing, consulting, and green building [2]. - The main revenue sources are engineering testing (71.20%), product sales (10.28%), and engineering supervision (7.97%) [2].

Group 1 - The company, Jianyan Institute (603183), announced that it will hold a semi-annual performance briefing on September 16, 2025, from 11:00 to 12:00 [1]

证券代码：603183 证券简称：建研院 公告编号：2025-022 苏州市建筑科学研究院集团股份有限公司 关于召开 2025 年半年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法律责任。 重要内容提示： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 09 月 09 日 （星期二） 至 09 月 15 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 zqb@szjkjt.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。 苏州市建筑科学研究院集团股份有限公司（以下简称"公司"） 已于 2025 年 8 月 20 日发布公司 2025 年半年度报告，为便于广大投 资者更全面深入地了解公司 2025 年半年度经营成果、财务状况，公 司计划于 2025 年 09 月 16 日 （星期二） 11:00-12:00 举行 2025 半 年度业绩说明会，就投资者关心的问题进行交流。 二、 ...

Core Viewpoint - The recent financial report of Jianyan Institute (603183) indicates a significant decline in revenue and net profit, raising concerns about the company's financial health and operational efficiency [1] Financial Performance Summary - Total revenue for the reporting period reached 324 million yuan, a year-on-year decrease of 12.06% [1] - Net profit attributable to shareholders was 3.1991 million yuan, down 83.08% year-on-year [1] - In Q2, total revenue was 173 million yuan, a decline of 9.78% year-on-year, with net profit of 1.16365 million yuan, down 24.96% [1] - The gross margin was 46.52%, a decrease of 1.0% year-on-year, while the net margin fell to 2.02%, down 74.16% [1] - Total selling, administrative, and financial expenses amounted to 125 million yuan, accounting for 38.54% of revenue, an increase of 21.05% year-on-year [1] - Earnings per share were 0.01 yuan, a decrease of 75.0% year-on-year [1] Cash Flow and Financial Position - Cash and cash equivalents decreased by 41.45% due to settlement payments and tax expenditures [2] - Net cash flow from investing activities dropped by 59.69% due to increased capital expenditures for base construction [11] - The company's cash flow situation is concerning, with cash and cash equivalents to current liabilities ratio at 64.42% [12] Accounts Receivable and Liabilities - Accounts receivable reached a level that is 991.57% of the net profit, indicating potential liquidity issues [1][12] - Contract liabilities increased by 37.49% due to higher advance payments [6] - Employee compensation liabilities decreased by 43.26% due to year-end performance payouts [7] Asset Changes - Prepayments increased by 102.23% due to higher prepayments for fuel cards and electricity [3] - Construction in progress rose by 74.69% due to increased construction activities for park bases [4] - Intangible assets grew by 70.4% due to the purchase of land for the Jiangqiao base [5] Financial Ratios and Historical Performance - The company's return on invested capital (ROIC) was 4.21%, indicating weak capital returns compared to the historical median of 11.07% [11] - The net profit margin for the previous year was 8.11%, suggesting average value addition from products or services [11] - The company has a history of relatively good financial performance since its listing, although the most recent year showed a significant decline [11]

Group 1 - The core viewpoint of the news is that Jianyan Institute has experienced a decrease in the number of shareholders and an increase in average shareholding per shareholder, despite a slight increase in stock price during the reported period [1][2] - As of June 30, 2025, the number of shareholders for Jianyan Institute is 24,560, which is a decrease of 3,232 shareholders, representing a reduction of 11.63% compared to March 31, 2025 [1][2] - The average shareholding per shareholder increased from 17,900 shares to 20,200 shares, with an average market value of 85,800 yuan [1][2] Group 2 - The stock price of Jianyan Institute increased by 4.95% from March 31, 2025, to June 30, 2025, while the number of shareholders decreased during this period [1][2] - The net outflow of main funds was 27.25 million yuan, while retail investors saw a net inflow of 30.85 million yuan during the same period [2]