Company Overview - China Railway Construction Heavy Industry Co., Ltd. is located in Changsha Economic and Technological Development Zone, Hunan Province, established on November 23, 2006, and listed on June 22, 2021 [1] - The company's main business includes the design, research and development, manufacturing, sales, leasing, and service of tunneling machines, rail transit equipment, and special professional equipment [1] - Revenue composition: tunneling machines 61.05%, rail transit equipment 20.05%, special professional equipment 18.37%, others 0.53% [1] Financial Performance - For the first half of 2025, the company achieved operating revenue of 4.837 billion yuan, a year-on-year increase of 0.71%; net profit attributable to shareholders was 735 million yuan, a year-on-year increase of 1.73% [2] - Cumulative cash dividends since the A-share listing amount to 2.011 billion yuan, with 1.488 billion yuan distributed over the past three years [3] Stock Market Activity - As of September 2, the stock price decreased by 2.08% to 5.64 yuan per share, with a total market capitalization of 30.081 billion yuan [1] - Year-to-date, the stock price has increased by 30.71%, but has seen a decline of 5.53% in the last five trading days and 3.34% in the last 20 days [1] - The company has appeared on the "Dragon and Tiger List" three times this year, with the most recent instance on July 23, where net buying amounted to 26.5381 million yuan [1] Shareholder Information - As of June 30, the number of shareholders is 59,200, a decrease of 3.20% from the previous period; the average circulating shares per person increased by 272.80% to 90,036 shares [2] - Major shareholders include Hong Kong Central Clearing Limited, holding 24.0225 million shares, and Southern CSI 500 ETF, holding 23.8234 million shares, both showing increases in holdings [3]

据证券之星公开数据整理，近期铁建重工（688425）发布2025年中报。截至本报告期末，公司营业总收 入48.37亿元，同比上升0.71%，归母净利润7.35亿元，同比上升1.73%。按单季度数据看，第二季度营 业总收入24.81亿元，同比上升3.03%，第二季度归母净利润4.03亿元，同比上升13.84%。本报告期铁建 重工公司应收账款体量较大，当期应收账款占最新年报归母净利润比达555.6%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率30.2%，同比减1.39%，净利率15.2%，同比增 1.0%，销售费用、管理费用、财务费用总计2.89亿元，三费占营收比5.98%，同比减16.41%，每股净资 产3.34元，同比增6.37%，每股经营性现金流0.04元，同比减45.45%，每股收益0.14元 | 最新财务摘要 | | | --- | --- | | LIL | 新闻 | 建议关注公司现金流状况（货币资金/流动负债仅为55.36%） 建议关注公司应收账款状况（应收账款/利润已达555.6%） 分析师工具显示：证券研究员普遍预期2025年业绩在16.37亿元，每股收益均值在0.31元。 | 基金筒称 ...

Core Viewpoint - The company plans to utilize part of its temporarily idle raised funds for cash management to enhance fund efficiency and generate additional returns for the company and its shareholders [1][2][5]. Fundraising Basic Situation - The company raised a total of RMB 424,173.66 million from the public offering of 1,285,180,000 shares at an issue price of RMB 2.87 per share, with the net amount after deducting issuance costs being confirmed [1][2]. Cash Management Plan - The company intends to use up to RMB 350 million of temporarily idle raised funds for cash management, focusing on low-risk, high-liquidity financial products such as structured deposits and time deposits [2][3]. - The investment decision will be valid for 12 months from the board's approval date, with funds being able to be rolled over within this period [2][3]. Implementation and Oversight - The company's chairman or authorized personnel will have the authority to make investment decisions within the set limits, while the finance department will be responsible for execution and related matters [3][4]. - The company will adhere to relevant disclosure obligations to ensure transparency and compliance with regulations [3][4]. Impact on Daily Operations - The cash management plan will not affect the normal operation of the company's fundraising projects or its main business, while also potentially enhancing overall performance and returns for shareholders [4][5]. Risk Management - The company acknowledges potential market risks but plans to implement strict approval and execution procedures to ensure the safety of funds [5][6]. - Specific measures include defining cash management amounts and periods, selecting appropriate financial products, and timely monitoring of investment performance [5][6]. Approval Process - The board of directors approved the cash management plan on August 28, 2025, without the need for shareholder meeting approval [5][6]. Sponsor's Verification Opinion - The sponsor believes that the company's plan to use part of the idle raised funds for cash management has followed necessary approval procedures and complies with relevant regulations, aiming to improve fund efficiency without harming shareholder interests [6].

证券日报网讯8月28日晚间，铁建重工发布公告称，公司董事会同意聘任贺勇军先生担任公司总经理。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 近日，中国铁建重工集团股份有限公司（证券代码：688425，证券简称：铁建重工）发布公告称，公司 于2025年8月28日召开第二届董事会第二十八次会议，审议通过了《关于使用部分暂时闲置募集资金进 行现金管理的议案》，同意在保证募集资金项目资金需求的前提下，使用不超过人民币3.5亿元（含本 数）的暂时闲置募集资金进行现金管理，且在上述额度和期限内，资金可循环滚动使用，闲置募集资金 现金管理到期后将归还至募集资金专户。 募集资金基本情况 2021年5月18日，中国证监会出具《关于同意中国铁建重工集团股份有限公司首次公开发行股票注册的 批复》。公司于2021年6月公开发行人民币普通股1,285,180,000股（超额配售选择权行使之前），2021 年7月全额行使超额配售选择权之后，公开发行股份数量为1,477,957,000股，发行价格为2.87元/股，募 集资金总额为424,173.66万元，扣除发行费用后，募集资金净额为416,116.88万元。目前，募集资金已全 部存放于经公司董事会批准开设的募集资金专项账户内。 现金管理具体情况投资目的：提高募集资金使用效率 ...

Core Viewpoint - The company reported a slight increase in revenue and net profit for the first half of the year, indicating stable performance despite market conditions [1] Financial Performance - The company achieved operating revenue of 4.837 billion yuan, a year-on-year increase of 0.71% [1] - The net profit attributable to shareholders was 735 million yuan, reflecting a year-on-year increase of 1.73% [1] - For the second quarter (April to June), the company reported operating revenue of 2.481 billion yuan, which is a year-on-year growth of 3.03% [1] - The net profit attributable to shareholders for the second quarter was 403 million yuan, showing a significant year-on-year increase of 13.84% [1]

独立董事：吴云天、王金星、曹丰 中国铁建重工集团股份有限公司 第二届董事会独立董事专门会议 第四次会议决议 2025 年 8 月 29 日 根据《上市公司独立董事管理办法》《上海证券交易所科创板股票上市规则》 《上海证券交易所科创板上市公司自律监管指引第 1 号--规范运作》以及《中国 铁建重工集团股份有限公司章程》等有关规定，我们作为中国铁建重工集团股份 有限公司（以下简称公司）的独立董事，于 2025 年 8 月 28 日召开了第二届董事 会独立董事专门会议第四次会议，针对公司第二届董事会第二十八次会议拟审议 的《关于中国铁建财务有限公司风险持续评估报告的议案》进行了审核。经审核， 全体独立董事一致同意相关议案，并形成决议如下： 1 我们认为：《中国铁建重工集团股份有限公司关于中国铁建财务有限公司风 险持续评估报告》具备客观性和公正性，充分反映了中国铁建财务有限公司（以 下简称财务公司）的经营资质、业务和风险状况，财务公司经营资质、内控建设、 经营情况均符合开展金融服务的要求，公司与财务公司开展的金融服务业务符合 相关法律法规、规范性文件的规定，符合公司与全体股东的利益，不存在损害公 司和股东，特别是中小 ...

中国国际金融股份有限公司 关于中国铁建重工集团股份有限公司 使用部分暂时闲置募集资金进行现金管理的核查意见 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作为中国铁 建重工集团股份有限公司（以下简称"铁建重工"或"公司"）首次公开发行股票并在 科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司募集资金 监管规则》《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》和《上 海证券交易所科创板股票上市规则》等有关规定，就铁建重工使用部分暂时闲置募集资 金进行现金管理的事项进行了核查，具体情况如下： 一、募集资金基本情况 为提高募集资金使用效率，合理利用部分暂时闲置募集资金，在确保不影响募集资 金项目建设和使用、募集资金安全的情况下，增加公司的收益，为公司及股东获取更多 回报。 （二）投资产品品种 公司将按照相关规定严格控制风险，拟使用部分暂时闲置募集资金购买安全性高、 流动性好、保本型的理财产品或存款类产品（包括但不限于结构性存款、定期存款、大 额存单、通知存款等），且该等现金管理产品不得用于质押，不用于以证券投资为目的 的投资行为。 （三）决议有效期 自公司董事会 ...

[Section I Definitions](index=4&type=section&id=Section%20I%20Definitions) This section defines key terms used throughout the report, including company abbreviations, group structure, related parties, product types, and technical concepts, ensuring clear understanding [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This section defines key terms used in the report, including company abbreviations, group composition, major related parties, product types, and technical concepts, ensuring clear understanding of the report content - The company's abbreviation 'CRCHI' refers to China Railway Construction Heavy Industry Corporation Limited, while 'the Group' includes CRCHI and its subsidiaries[11](index=11&type=chunk) - 'Tunnel Boring Machine' is defined as specialized mechanical equipment that achieves full-face tunnel formation through excavation and propulsion, featuring a peripheral mechanical shell, primarily including shield machines, rock tunnel boring machines, and pipe jacking machines[11](index=11&type=chunk) - 'TBM' is the abbreviation for Tunnel Boring Machine, referring to a full-face tunnel boring machine that crushes rock by rotating a cutterhead and advancing, using a main conveyor belt for muck removal[11](index=11&type=chunk) [Section II Company Profile and Key Financial Indicators](index=5&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information and key financial performance for the reporting period [I. Company Basic Information](index=5&type=section&id=I.%20Company%20Basic%20Information) This section outlines the company's basic information, including its Chinese name, abbreviation, legal representative, registered and office addresses, company website, and email address - The company's Chinese name is China Railway Construction Heavy Industry Corporation Limited, abbreviated as CRCHI[13](index=13&type=chunk) - The company's legal representative is Zhao Hui, and its registered address is No. 88, Dongqi Road, Quantang Street, Changsha Economic and Technological Development Zone[13](index=13&type=chunk) - The company's website is www.crchi.com, and its email address is ir@crchi.com[13](index=13&type=chunk) [II. Contact Persons and Methods](index=5&type=section&id=II.%20Contact%20Persons%20and%20Methods) This section provides contact information for the company's Board Secretary and Securities Affairs Representative, including name, address, phone, fax, and email, to facilitate communication - Both the Board Secretary (domestic representative for information disclosure) and the Securities Affairs Representative are Li Gang[14](index=14&type=chunk) - The contact number is 0731-84071749, and the email address is ir@crchi.com[14](index=14&type=chunk) [III. Information Disclosure and Document Placement Location Changes](index=5&type=section&id=III.%20Information%20Disclosure%20and%20Document%20Placement%20Location%20Changes) This section details the company's designated newspapers, website for semi-annual reports, and placement location for reports, ensuring transparency and accessibility - The company's selected newspapers for information disclosure are China Securities Journal, Shanghai Securities News, Securities Times, and Securities Daily[15](index=15&type=chunk) - The website address for publishing semi-annual reports is www.sse.com.cn[15](index=15&type=chunk) - The company's semi-annual reports are available at the Board of Directors Office (Securities Affairs Department)[15](index=15&type=chunk) [IV. Overview of Company Shares/Depositary Receipts](index=5&type=section&id=IV.%20Overview%20of%20Company%20Shares%2FDepositary%20Receipts) This section briefly introduces the company's stock type, listing exchange, abbreviation, and code, confirming no depositary receipts - The company's stock type is A-shares, listed on the SSE STAR Market[16](index=16&type=chunk) - The stock abbreviation is CRCHI, and the stock code is 688425[16](index=16&type=chunk) - The company has no depositary receipts[17](index=17&type=chunk) [VI. Key Accounting Data and Financial Indicators](index=6&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section summarizes the company's key accounting data and financial indicators for H1 2025, showing slight revenue and net profit growth, but a significant decrease in operating cash flow Key Accounting Data for H1 2025 (Million Yuan) | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 4,837.38 | 4,803.15 | 0.71 | | Total Profit | 807.79 | 788.06 | 2.50 | | Net Profit Attributable to Parent | 735.46 | 722.97 | 1.73 | | Net Profit Attributable to Parent (Excl. Non-recurring Items) | 693.67 | 661.73 | 4.83 | | Net Cash Flow from Operating Activities | 191.95 | 351.89 | -45.45 | | Net Assets Attributable to Parent | 17,839.90 | 17,555.81 | 1.62 | | Total Assets | 27,055.43 | 26,711.85 | 1.29 | Key Financial Indicators for H1 2025 | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.14 | 0.14 | 0 | | Diluted Earnings Per Share (yuan/share) | 0.14 | 0.14 | 0 | | Basic EPS (Excl. Non-recurring Items) (yuan/share) | 0.13 | 0.12 | 8.33 | | Weighted Average Return on Net Assets (%) | 4.10 | 4.28 | Decrease of 0.18 percentage points | | Weighted Average Return on Net Assets (Excl. Non-recurring Items) (%) | 3.87 | 3.92 | Decrease of 0.05 percentage points | | R&D Investment as % of Operating Revenue (%) | 8.49 | 8.76 | Decrease of 0.27 percentage points | - Net cash flow from operating activities decreased by **45.45%** year-on-year, primarily due to increased payments for goods, taxes, and other operating-related cash outflows in the current period[19](index=19&type=chunk) [(I) Key Accounting Data](index=6&type=section&id=%28I%29%20Key%20Accounting%20Data) The company's H1 2025 operating revenue was **4.837 billion yuan**, up **0.71%**; net profit attributable to parent was **735 million yuan**, up **1.73%**, while net operating cash flow significantly decreased by **45.45%** Key Accounting Data for H1 2025 (10,000 Yuan) | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 483,738.32 | 480,314.92 | 0.71 | | Net Profit Attributable to Parent | 73,546.44 | 72,297.41 | 1.73 | | Net Cash Flow from Operating Activities | 19,194.71 | 35,188.67 | -45.45 | [(II) Key Financial Indicators](index=6&type=section&id=%28II%29%20Key%20Financial%20Indicators) Basic and diluted EPS remained **0.14 yuan/share**, while weighted average return on net assets and R&D investment as a percentage of operating revenue both slightly decreased Key Financial Indicators for H1 2025 | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.14 | 0.14 | 0 | | Weighted Average Return on Net Assets (%) | 4.10 | 4.28 | Decrease of 0.18 percentage points | | R&D Investment as % of Operating Revenue (%) | 8.49 | 8.76 | Decrease of 0.27 percentage points | [VIII. Non-recurring Gains and Losses Items and Amounts](index=6&type=section&id=VIII.%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) The company's H1 2025 non-recurring gains and losses totaled **41.80 million yuan**, mainly from government subsidies and other non-operating income and expenses Non-recurring Gains and Losses Items for H1 2025 (Yuan) | Non-recurring Gains and Losses Item | Amount | | :--- | :--- | | Gains and losses from disposal of non-current assets | -4,807.71 | | Government subsidies recognized in current profit or loss | 42,614,897.34 | | Reversal of impairment provisions for accounts receivable subject to separate impairment testing | 2,558,200.00 | | Gains and losses from contingent events unrelated to normal business operations | 663,857.75 | | Other non-operating income and expenses apart from the above | 3,340,394.11 | | Less: Income tax impact | -7,375,881.22 | | Total | 41,796,660.27 | [Section III Management Discussion and Analysis](index=7&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) This section provides a comprehensive review of the company's industry, main business operations, core competitiveness, risk factors, and key operating performance during the reporting period [I. Industry and Main Business Overview During the Reporting Period](index=7&type=section&id=I.%20Industry%20and%20Main%20Business%20Overview%20During%20the%20Reporting%20Period) This section details the macro environment and drivers of the high-end underground engineering equipment industry, alongside developments and applications of the company's three main businesses [(I) Industry Overview](index=7&type=section&id=%28I%29%20Industry%20Overview) In H1 2025, the high-end underground engineering equipment industry benefited from supportive policies, seeing growth in railway, urban rail, mining, water conservancy, and significant overseas market expansion - In H1 2025, national railway fixed asset investment reached **355.9 billion yuan**, a **5.5%** year-on-year increase, with **301 kilometers** of new lines put into operation[25](index=25&type=chunk) - As of H1 2025, **58** cities in mainland China operated **12,381.48 kilometers** of urban rail transit lines, with **220.70 kilometers** of new lines added[26](index=26&type=chunk) - In H1 2025, fixed asset investment in the mining industry grew by **3.4%** year-on-year, with coal mining and washing, and non-ferrous metal mining and dressing increasing by **14.4%** and **46.2%** respectively[26](index=26&type=chunk) - In H1 2025, national water conservancy construction investment reached **532.9 billion yuan**, with **34,40

中国铁建重工集团股份有限公司董事会 2025 年 8 月 29 日 1 证券代码：688425 证券简称：铁建重工 公告编号：2025-035 中国铁建重工集团股份有限公司 关于聘任总经理的公告 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。 中国铁建重工集团股份有限公司（以下简称公司）于 2025 年 8 月 28 日召开 第二届董事会第二十八次会议，审议通过了《关于聘任公司总经理的议案》。现 将相关情况公告如下： 公司董事会同意聘任贺勇军先生担任公司总经理（简历详见附件），任期自 本次董事会审议通过之日起至公司第二届董事会任期届满之日止。 本议案提交董事会审议前，公司第二届董事会提名委员会第十三次会议进行 了资格审核并形成了同意提名贺勇军先生担任公司总经理的明确审查意见。贺勇 军先生具备与其行使职权相适应的任职条件，其任职资格符合《中华人民共和国 公司法》《上海证券交易所科创板股票上市规则》等有关法律法规和规范性文件 的规定，不存在受到中国证券监督管理委员会、上海证券交易所处罚的情形。 特此公告。 2 附件： 贺勇军先 ...