转自：证券时报 人民财讯11月18日电，亚翔集成(603929)11月18日披露股票交易异动公告称，经公司自查，并书面征询 控股股东及实际控制人，截至公告披露日，确认不存在应披露而未披露的重大信息。公司于2025年9月2 日披露了股东EVER CREATIVE减持股份计划公告。减持期间：2025年9月23日～2025年12月22日， EVER CREATIVE于2025年11月18日减持13万股，目前股东仍在减持期间内，敬请广大投资者注意股东 减持风险。 ...

亚翔系统集成科技（苏州）股份有限公司董事会 2025 年 11 月 18 日 关于选举职工代表董事的公告 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、准确性和完整性依法承 担法律责任。 亚翔系统集成科技（苏州）股份有限公司（以下简称"公司"或"亚翔 集成"）根据《中华人民共和国公司法》（以下简称《公司法》）、《亚翔 系统集成科技（苏州）股份有限公司章程》（以下简称《公司章程》） 等有 关规定，公司董事会成员中应包含一名职工代表董事。公司于 2025 年 11 月 18 日召开职工代表大会，会议的召开及表决程序符合职工代表大会决策的有 关规定，经民主讨论、表决，全体职工代表一致审议通过了《关于选举职工 代表董事的议案》，同意选举王富琳先生（简历详见附件）为公司职工代表 董事，任期自本次职工代表大会审议通过之日起至公司第六届董事会任期届 满之日止。 王富琳先生原为公司第六届监事会非职工代表监事，本次选举完成后， 其变更为公司第六届董事会职工代表董事，董事会构成人员不变。本次选举 职工代表董事工作完成后，公司第六届董事会中兼任公司高级管理人员及职 工代表担 ...

证券代码：603929 证券简称：亚翔集成 公告编号：2025-048 亚翔系统集成科技（苏州）股份有限公司 2025年第二次临时股东大会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东大会召开的时间：2025 年 11 月 18 日 (二) 股东大会召开的地点：苏州工业园区方达街 33 号 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 86 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 149,411,916 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 70.0280 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，董事长姚祖骧先生主持，大会采用现场投票和 网络投票相结合的表决方式进行表决，会议的召开和表决方式符合《 ...

股东大会法律意见书 北京海润天睿律师事务所 关于亚翔系统集成科技（苏州）股份有限公司 2025 年第二次临时股东大会的法律意见书 中国·北京 朝阳区建外大街甲 14 号广播大厦 5/9/10/13/17 层 二〇二五年十一月 股东大会法律意见书 北京海润天睿律师事务所 关于亚翔系统集成科技（苏州）股份有限公司 2025 年第二次临时股东大会的法律意见书 致：亚翔系统集成科技（苏州）股份有限公司 北京海润天睿律师事务所（以下简称"本所"）接受亚翔系统集成科技（苏 州）股份有限公司（以下简称"公司"）的委托，指派本所律师出席公司 2025 年第二次临时股东大会并对本次股东大会进行律师见证。 对本法律意见书的出具，本所律师特作如下声明： 1、本所律师仅就本次会议的召集、召开程序、出席本次股东大会的人员资 格、召集人资格、本次股东大会的表决方式、表决程序及表决结果发表意见，不 对本次会议所审议的议案内容及该等议案所表述的事实或数据的真实性、准确性 和完整性发表意见。 2、本所律师无法对网络投票过程进行见证，参与本次会议网络投票的股东 资格、网络投票结果均由相应的证券交易所交易系统和互联网投票系统予以认证。 4、本法律 ...

每经AI快讯，11月18日，亚翔集成（603929）(603929.SH)发布异动公告，公司于2025年9月2日披露了 股东EVER CREATIVE减持股份计划公告。减持期间：2025年9月23日～2025年12月22日，EVER CREATIVE于2025年11月18日减持13万股，目前股东仍在减持期间内，敬请广大投资者注意股东减持风 险。 ...

Core Viewpoint - The company, 亚翔集成 (603929.SH), announced a share reduction plan by its shareholder, EVER CREATIVE, which is currently in effect and poses a potential risk for investors [1] Group 1 - The share reduction period is from September 23, 2025, to December 22, 2025 [1] - On November 18, 2025, EVER CREATIVE reduced its holdings by 130,000 shares [1] - The company urges investors to be aware of the risks associated with shareholder reductions [1]

Investment Rating - The report maintains a "Buy" rating for several companies in the construction and building materials sector, including China Chemical, Fuyao Glass, Jinggong Steel Structure, Dongfang Yuhong, China Jushi, Yaxiang Integration, Tubaobao, and Huaxin Cement, while maintaining an "Overweight" rating for Zhongfu Shenying [10][39]. Core Insights - The short-term fundamentals of the industry remain subdued, with a focus on price increases, new technologies, and long-term potential. Investment in infrastructure, real estate, and manufacturing has shown mixed results, with infrastructure investment declining by 0.1% year-on-year, real estate down by 14.7%, and manufacturing up by 2.7% [1][16]. - The report suggests three main investment themes for 2026: companies benefiting from overseas expansion that are not fully priced in, companies in the real estate chain that have cleared risks and are seeing income or profitability turning points, and domestic replacement new material companies benefiting from high-end manufacturing [1][14]. - The report highlights the importance of policy support for consumption and investment, with recent government meetings emphasizing the need for project construction and funding allocation [16][18]. Summary by Sections Industry Overview - The construction and building materials sector is experiencing a mixed performance, with infrastructure investment showing a decline and real estate facing significant challenges. However, there are positive signals from government policies aimed at boosting consumption and investment [1][16]. Company Dynamics - Dongfang Yuhong announced plans to sell part of its real estate assets to improve its financial structure, expecting a loss of approximately 25.81 million yuan from the asset disposal [3]. Price Trends - As of November 14, national cement prices increased by 0.3% week-on-week, while the average price of float glass decreased by 2.6% [2][31]. The report notes that the cement market is expected to continue its upward trend due to seasonal demand [30]. Recommended Companies - The report recommends several companies for investment, including: - China Chemical (Target Price: 12.05) - Fuyao Glass (Target Price: 98.21) - Jinggong Steel Structure (Target Price: 5.75) - Dongfang Yuhong (Target Price: 17.19) - China Jushi (Target Price: 19.80) - Yaxiang Integration (Target Price: 64.65) - Tubaobao (Target Price: 16.01) - Huaxin Cement (Target Price: 26.70) - Zhongfu Shenying (Target Price: 31.80) [10][39].

（文章来源：每日经济新闻） 每经AI快讯，11月17日，亚翔集成涨4.07%，报56.5元/股，股价再创新高，总市值突破120.54亿元，成 交额达635.62万元。 ...

Investment Rating - The report maintains a "Buy" rating for key companies in the construction and decoration industry, emphasizing long-term growth logic, low valuations, and high dividend yields [12][15][22]. Core Viewpoints - The market has been characterized by a "high cut low" trend since the fourth quarter, with the dividend index rising by 8.3% from early October, significantly outperforming major indices [2][15]. - The construction sector has shown significant underperformance year-to-date, with a rise of only 11.6%, ranking 23rd among 30 industries, while valuations remain at historical lows [2][22]. - Key investment directions include overseas expansion driven by urbanization and industrialization in emerging markets, and regional economic support in areas like Sichuan and Xinjiang [3][7][15]. Summary by Sections Overseas Demand and Expansion - The report highlights the sustained high demand for overseas construction, driven by urbanization and industrialization in emerging countries, such as Saudi Arabia's "Vision 2030" and various infrastructure investment plans in Southeast Asia [3][24]. - Chinese companies are accelerating their overseas operations, with 3,667 A-share companies disclosing overseas revenue, totaling 9.52 trillion yuan, a 56.58% increase from 2020 [3][27]. - Recommended companies benefiting from this trend include China Chemical Engineering, Jinggong Steel Structure, Jianghe Group, and China National Materials [6][15][22]. Regional Economic Opportunities - The report identifies Sichuan, Xinjiang, and Tibet as regions likely to receive significant policy support, with Sichuan positioned as a strategic hub for national development [7][29]. - Investment in Xinjiang's coal chemical industry is projected to accelerate, with estimated annual investments of 690 billion yuan in 2025, 1,293 billion yuan in 2026, and 2,156 billion yuan in 2027 [7][30]. - Key companies recommended in this context include Sichuan Road and Bridge, China Chemical Engineering, Sanwei Chemical, and Donghua Technology [7][15][35]. High Dividend Yield Opportunities - Many recommended companies have committed to high dividend payouts, with Sichuan Road and Bridge promising a minimum payout ratio of 60% from 2025 to 2027, and Jinggong Steel Structure committing to at least 70% [8][35]. - Expected dividend yields for 2026 are projected at 6.6% for Sichuan Road and Bridge, 6.3% for Jinggong Steel Structure, and 5.4% for China National Materials, indicating strong investment appeal [8][35]. Semiconductor Cleanroom Sector - The report notes that the AI development wave is driving demand for semiconductor cleanrooms, with global investment expected to reach 168 billion yuan by 2025 [9][35]. - Key players in this sector include Yaxin Integration, Shenghui Integration, and Bocheng Co., which are positioned to benefit from the expanding market [9][35]. Commercial Satellite Sector - The report emphasizes the increasing support for the commercial aerospace industry, with a focus on low-orbit satellite constellations and a projected surge in satellite launches starting next year [10][11]. - Recommended companies in this area include Shanghai Port Bay, which is expected to benefit from the increase in launch activities [10][11].

Core Viewpoint - The stock price of Yaxiang Integration (603929) has increased by 7.29% this week, reaching a closing price of 54.29 yuan, marking its near one-year high [1] Company Announcement Summary - Yaxiang Integration held a Q3 2025 earnings briefing on November 13, addressing investor concerns regarding market competition, accounts receivable management, overseas business expansion, major contract performance, exchange rate losses, impairment provisions, and dividend arrangements [1][3] - The company is focusing on high-tech cleanroom projects, enhancing AI digital management, and steadily advancing the execution of existing orders [3] - Yaxiang Integration plans to continuously optimize its layout in the Southeast Asian market, actively respond to exchange rate fluctuations, and manage impairment provisions [1][3]