北方国际（000065）公告，公司于2025年5月29日召开董事会和监事会会议，审议通过了调整2024年度 向特定对象发行A股股票方案的议案。调整前发行股票数量不超过1.06亿股，调整后不超过1.05亿股， 均未超过公司总股本的30%。最终发行数量将根据发行对象申购报价确定。此次定增方案尚需国资监管 单位批准、深交所审核通过及中国证监会注册。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 公司决定于2025年6月11日召开2025年第三次临时股东大会。现将有关事项通知如下： 一、召开会议基本情况 1、股东大会届次 4、会议召开的日期、时间 现场会议召开日期、时间为：2025年6月11日14:30开始 网络投票时间为： （1）通过深圳证券交易所交易系统进行网络投票的具体时间为：2025年6月11日上午9:15至9:25、9:30 至11:30，下午13:00至15:00； 2025年第三次临时股东大会 2、会议召集人 北方国际合作股份有限公司董事会 3、会议召开的合法、合规性 本次股东大会会议召开符合有关法律、行政法规、部门规章、规范性文件、深圳证券交易所业务规则和 公司章程等的规定。 （2）通过深圳证券交易所互联网投票的具体时间为：2025年6月11日9:15至15:00。 5、会议召开方式 本次会议采取现场投票与网络投票相结合的方式，公司将通过深圳证券交易所交易系统和互联网投票系 统（http://wltp.cninfo.com.cn）向公司股东 ...

1. Report Industry Investment Rating - Most of the covered companies have investment ratings such as "Buy" and "Add", including China National Building Material Co., Ltd., China National Steel & Machinery Corporation, etc. [21][24] 2. Core Viewpoints - Suggest paying attention to investment opportunities related to the Belt and Road Initiative, including four major international engineering companies and companies like Shanghai Harbor and Keda Manufacturing. [3][18] - Although the real - estate market is on the path of stabilizing after a series of policies since the December 2024 Politburo meeting, it still needs to be consolidated in April, and continuous policy support is expected. [3] - Currently, it is recommended to focus on companies such as Honglu Steel Structure, China Jushi, etc., due to factors like improved foreign trade environment, expected increase in downstream demand, and product price increases. [3] 3. Summary by Directory 3.1 Week - Special Topic: Focus on Belt and Road - Related Investment Opportunities - The Belt and Road Initiative aims to achieve infrastructure connectivity and sustainable development among countries along the routes. After more than a decade of construction, the infrastructure connectivity among countries along the routes has taken shape, with significant growth in railway transportation and an increase in the proportion of trade with BRI countries in China's total foreign trade. [3][5][8] - Investment opportunities related to the Belt and Road Initiative are suggested, including four major international engineering companies (Northern International, Sinomach, Sinoma International, and Sino - steel International) and companies like Shanghai Harbor and Keda Manufacturing. [3][18] 3.2 Profit Forecasts and Valuations of Main Covered Companies - The report provides profit forecasts and valuations for multiple companies from 2024 to 2027, including EPS, PE, PB, etc., and gives investment ratings such as "Buy" and "Add". [21][24] 3.3 Weekly Market Review - In the weekly market, the building and building materials industries showed different degrees of decline. Among them, the building index and building materials index both decreased, and different sub - sectors also had varying performance. [28][30][32] - Infrastructure public REITs also had different price fluctuations, with an average weekly increase of 1.73%, a monthly increase of 4.23%, and significant increases in the year - to - date and since IPO. [36][37] 3.4 Aggregate Data Tracking - In the real - estate market, data on new construction, construction, completion, and sales areas showed different trends. In addition, data on land transactions, real - estate transactions, social financing, and infrastructure investment are also provided. [39][48][58] - The new - signed contract data of eight major construction central enterprises from 2022Q1 to 2025Q1 are presented, showing different growth rates in different quarters. [87] 3.5 High - Frequency Data Tracking - High - frequency data on various building materials such as cement, glass, photovoltaic glass, fiberglass, carbon fiber, and magnesium sand are provided, including price, production, inventory, etc. [99][102][110] - Data on upstream raw material prices and physical workloads are also included, such as waste paper, PVC, HDPE prices, and high - altitude machine rental rates, excavator working hours, etc. [148][156]

Meeting Details - The company will hold the 2025 Third Extraordinary General Meeting of Shareholders on June 11, 2025, starting at 14:30 [1] - The meeting will include both on-site and online voting options for shareholders [2] - Online voting will be available through the Shenzhen Stock Exchange trading system and internet voting system from 9:15 to 15:00 on the same day [1][2] Voting Procedures - Shareholders registered by the close of trading on June 5, 2025, are eligible to attend and vote at the meeting [2] - Voting can be conducted either in person or online, but not both for the same proposal [5] - A proxy can be appointed to attend the meeting and vote on behalf of a shareholder [2][5] Agenda Items - The meeting will review several proposals related to the issuance of A-shares to specific targets for the year 2024, including feasibility analysis and usage of raised funds [3][4] - Specific proposals include the authorization for the board to handle matters related to the issuance of A-shares and the establishment of a dedicated account for the raised funds [4][12] Registration and Contact Information - Registration for the meeting will take place on June 9, 2025, from 14:00 to 17:00 [3] - Contact details for registration include the company’s office address and phone number [3][5]

北方国际合作股份有限公司 关于召开 2025 年第三次临时股东大会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 公司决定于 2025 年 6 月 11 日召开 2025 年第三次临时股东大会。现将有关 事项通知如下： 一、召开会议基本情况 1、股东大会届次 关于召开 2025 年第三次临时股东大会的通知 股票简称：北方国际 股票代码：000065 公告编号：2025-055 2025 年第三次临时股东大会 2、会议召集人 北方国际合作股份有限公司董事会 3、会议召开的合法、合规性 本次股东大会会议召开符合有关法律、行政法规、部门规章、规范性文 件、深圳证券交易所业务规则和公司章程等的规定。 4、会议召开的日期、时间 现场会议召开日期、时间为：2025年6月11日14:30开始 网络投票时间为： （1）通过深圳证券交易所交易系统进行网络投票的具体时间为：2025年6 月11日上午9:15至9:25、9:30至11:30，下午13:00至15:00； （2）通过深圳证券交易所互联网投票的具体时间为：2025年6月11日9:15 至15:00。 8、会议地 ...

Investment Rating - The report maintains an "Overweight" rating for the construction and decoration industry [1] Core Views - Infrastructure investment remains stable, with a focus on water conservancy and cleanroom engineering sectors [1] - The first four months of 2025 saw a 5.8% year-on-year increase in infrastructure investment, with notable growth in water management (30.7%), water transportation (26.9%), and air transportation (13.9%) [10][15] - The report highlights the resilience of the economy despite external pressures, with construction material retail sales showing a significant increase of 9.7% in April [15] Summary by Sections Industry Dynamics - The report notes that the overseas contracting business is expected to benefit from the Belt and Road Initiative, with new contract amounts reaching $76.59 billion, a 22.4% year-on-year increase [2][11] - Companies involved in specialized engineering sectors, energy conservation, and new energy infrastructure are anticipated to see growth opportunities [11] Market Performance - The construction and decoration sector experienced a decline of 0.97% in the week of May 19-23, 2025, while the broader market indices showed smaller declines [5] - The report suggests that the performance of construction companies remains stable, with a focus on state-owned enterprises and local government enterprises for potential valuation recovery [10] Policy and Economic Data - The report emphasizes the importance of proactive macroeconomic policies to support infrastructure investment, with expectations for increased fiscal policy support in the second quarter [10][15] - The construction PMI showed a decline, indicating weaker project expectations, which necessitates close monitoring of funding and policy impacts [10]

Investment Rating - The report maintains a "Positive" investment rating for the construction and engineering industry [11]. Core Insights - The report highlights fluctuations in infrastructure investment growth and emphasizes the importance of subsequent funding implementation [2]. - Fixed investment growth is declining, with a drop in the PMI for both manufacturing and construction sectors [6][19]. - The construction sector is experiencing pressure on orders, with a notable decline in new orders and employment indices [6][39]. Summary by Sections Investment & Orders - In April, the manufacturing PMI fell below 50, and the construction PMI also decreased, with new orders and employment indices at 39.6% and 37.8% respectively. The construction PMI was 51.9%, down 4.4 percentage points year-on-year and 1.5 percentage points month-on-month [6][19]. - Fixed asset investment from January to April reached CNY 14.7 trillion, a year-on-year increase of 4.0%, with narrow infrastructure investment at CNY 4.9 trillion, up 5.8% year-on-year [22][23]. Physical Workload - Cement output has shown a year-on-year decline, while demand for cement in infrastructure remains relatively stable. From January to April, cement production decreased by 2.8% year-on-year [8][30]. Project Funding - The funding availability rate for construction projects is stable, with a slight improvement in housing construction. As of May 13, the funding availability rate was 59.1%, with non-housing projects at 60.65% and housing projects at 51.33% [9][30]. - The issuance of special bonds has accelerated, with a total of CNY 13.68 trillion issued year-to-date, which is CNY 5.12 trillion more than the previous year [9][30].

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of Beifang International, including its stock price, market capitalization, and industry comparisons [1][2] - As of May 20, Beifang International's stock closed at 11.0 yuan, with a rolling PE ratio of 12.24 times and a total market value of 11.785 billion yuan [1] - The company ranks 37th in the engineering construction industry, which has an average PE ratio of 13.48 times and a median of 21.06 times [1][2] Group 2 - For Q1 2025, Beifang International reported an operating income of 3.650 billion yuan, a year-on-year decrease of 27.22%, and a net profit of 177 million yuan, down 32.97% year-on-year [2] - The company's gross profit margin stands at 13.03% [2] - As of March 31, 2025, Beifang International had 52,855 shareholders, an increase of 12,695 from the previous count, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1] Group 3 - Beifang International focuses on engineering construction and services, resource and equipment supply chain, power operation, and industrial manufacturing [1] - The company has placed significant emphasis on ESG management, producing annual ESG reports since 2022, and has received multiple accolades for its ESG practices, including a "five-star" rating and recognition as one of the "Top 100 ESG Listed Companies in China" [1]

Group 1: Impact of the US-China Joint Statement - The US-China Joint Statement led to a significant reduction in bilateral tariffs, prompting foreign trade companies to resume production and shipping to meet demand within a 90-day window [1][4] - Companies like Zhejiang Wei Laoda Industrial Co., which exports over 70% of its products to the US, are ramping up production to fulfill previously delayed orders worth nearly $6 million [1][4] - The shipping industry is experiencing a surge in demand, with freight rates increasing significantly; for instance, rates for shipping to the US West Coast have risen to $6,000 per container [1][5] Group 2: Shipping and Port Activity - Yantian Port, a key player in Guangdong's foreign trade, is seeing an increase in truck traffic and shipping orders, with drivers reporting a 20% rise in orders due to the US-China trade talks [2][3] - The shipping market is experiencing a rapid increase in freight rates, with the container shipping price index for routes to the US West Coast rising over 11% [5][6] - Companies are preparing for a shipping peak next week, as many are expected to clear out backlogged orders [2][3] Group 3: Business Recovery and Order Resumption - Companies like Shanghai Ximei Tools Import and Export Co. are receiving renewed orders from US clients, with expectations of shipping a batch of orders by early June [3][4] - The medical device sector, represented by Shenzhen Mide Rui Na Biotechnology Co., is also seeing a revival in orders, with clients planning to place new orders after previously pausing shipments [4] - The overall export volume is anticipated to increase significantly as companies take advantage of the 90-day window to replenish stocks and clear warehouses [3][4]

Investment Rating - The report gives an "Accumulate" rating for the company, marking its first coverage [4][13]. Core Views - The company is steadily expanding its integrated investment, construction, and operation business, with performance facing temporary pressure. In Q1 2025, the company achieved revenue of 3.65 billion yuan, a year-on-year decrease of 27%, and a net profit attributable to shareholders of 180 million yuan, down 33% year-on-year [1][26]. - The Mongolian coal trade integration is progressing well, with significant certainty in trade increments. The mining volume for 2024 is projected at 50.56 million tons, with a compound annual growth rate of 304% from 2021 to 2024 [2][54]. - The overseas wind and hydropower profits are stable, while thermal power and photovoltaic sectors have potential for growth. The average electricity price in Croatia increased by 81% year-on-year, contributing positively to wind power project profitability [3][46]. - The company has a sufficient reserve of international engineering contracts, and the "Belt and Road" initiative is expected to catalyze performance improvement [3][4]. Summary by Sections Integrated Investment and Construction Development - The company is a comprehensive international construction enterprise benefiting from the "Belt and Road" initiative, with a focus on expanding its integrated business model [20]. - In Q1 2025, the company faced performance pressure, with a revenue of 3.65 billion yuan, down 27% year-on-year, and a net profit of 180 million yuan, down 33% year-on-year [1][26]. Mongolian Coal Trade Integration - The Mongolian coal trade integration is showing good progress, with a projected mining volume of 50.56 million tons for 2024, reflecting a compound annual growth rate of 304% from 2021 to 2024 [2][54]. - The coal trade is highly dependent on the Chinese market, with 96.5% of Mongolia's coal exports going to China in 2023 [2]. Overseas Power Projects - The average electricity price in Croatia increased to 130 euros per megawatt-hour in Q1 2025, up 81% year-on-year, indicating strong profitability for wind power projects [3][46]. - The company plans to invest in a 125MWp photovoltaic project in Bosnia, further deepening its market presence in the Middle East [3]. International Engineering Contracts - The company has a total of 14.17 billion USD in signed but uncompleted project contracts as of the end of 2024, a decrease of 3.9% year-on-year [3]. - The new contract amount signed in 2024 was 1.16 billion USD, down 55.8% year-on-year, but the upcoming "Belt and Road" construction work conference in December 2024 is expected to catalyze performance [3][4]. Profit Forecast and Investment Recommendations - The company is expected to achieve total revenues of 20.515 billion yuan, 22.233 billion yuan, and 23.624 billion yuan for 2025, 2026, and 2027 respectively, with year-on-year growth rates of 7.52%, 8.37%, and 6.26% [4]. - The net profit attributable to shareholders is projected to be 1.125 billion yuan, 1.309 billion yuan, and 1.420 billion yuan for the same years, with growth rates of 7.21%, 16.32%, and 8.48% respectively [4].