北京市海问律师事务所 关于金隅冀东水泥集团股份有限公司 2025 年第四次临时股东会的法律意见书 经核查金隅冀东《金隅冀东水泥集团股份有限公司第十届董事会第二十次会议 决议公告》《金隅冀东水泥集团股份有限公司关于召开 2025 年第四次临时股东会的 通知》并经见证本次会议，本次会议由公司董事会召集，会议召开的时间、地点、 方式与会议通知中所告知的时间、地点、方式一致,本次会议由公司董事长刘字先 生主持。 本所律师认为，本次会议的召集和召开程序、召集人的资格符合有关法律和公 司童程的有关规定。 二、出席本次会议现场会议人员资格 根据对出席本次会议的公司股东的证券账户卡、身份证、营业执照或其他有效 证件或证明、股东代理人的授权委托书和身份证明等的查验，出席本次会议现场会 议的股东及股东代理人共 3 人，所持股份份数为 1,681,156,215 股，占公司有表决 权股份总数的 63.2438%。 本所律师认为,出席本次会议现场会议的人员资格符合有关法律及公司章程的 规定。 致:金隅冀东水泥集团股份有限公司 北京市海问律师事务所 (以下简称"本所")作为金隅冀东水泥集团股份有限 公司（以下简称"金隅冀东"或"公司" ...

Financial Performance - The company's revenue for Q3 2025 was ¥6,814,288,348.13, a decrease of 7.13% compared to the same period last year[4] - Net profit attributable to shareholders decreased by 61.92% to ¥193,978,870.14, while the net profit excluding non-recurring gains and losses was ¥157,772,032.50, down 63.10%[4] - Basic earnings per share fell by 62.06% to ¥0.0727, and diluted earnings per share also decreased by 61.16% to ¥0.0727[4] - Total operating revenue for the current period reached ¥18,575,066,588.09, a slight increase from ¥18,557,200,512.65 in the previous period, reflecting a growth of approximately 0.1%[14] - Total operating costs decreased to ¥18,718,639,969.37 from ¥19,215,917,591.73, marking a reduction of about 2.6%[14] - The net profit for the current period was ¥16,266,180.61, a significant recovery from a net loss of ¥410,838,812.00 in the previous period[15] - The profit attributable to the parent company's shareholders was ¥40,354,882.23, compared to a loss of ¥296,767,662.01 in the prior period[15] - The total comprehensive income attributable to the parent company was CNY 65,215,786.62, a decrease of 321,339,788.07 compared to the previous period[16] - The company's total comprehensive income was CNY 41,127,085.00, a decrease of 430,777,041.73 compared to the previous period[16] Assets and Liabilities - Total assets at the end of Q3 2025 were ¥58,658,247,865.25, a decrease of 1.11% from the end of the previous year[4] - Total assets amounted to ¥58,658,247,865.25, a decrease from ¥59,313,896,919.67, indicating a decline of approximately 1.1%[13] - Total liabilities decreased to ¥29,088,671,243.72 from ¥30,055,297,604.47, reflecting a reduction of about 3.2%[13] - Non-current liabilities totaled ¥13,796,277,933.07, slightly down from ¥13,879,715,933.18, showing a decrease of approximately 0.6%[13] - The company’s total liabilities increased, with contract liabilities rising by 48.74% to ¥711,315,978.64, indicating increased pre-sales[7] Cash Flow - The company reported a net cash flow from operating activities of ¥2,073,210,527.19, an increase of 17.66% year-to-date[4] - The net cash flow from operating activities was CNY 2,073,210,527.19, an increase from CNY 1,762,054,187.01 in the previous period[17] - Cash flow from investing activities showed a net outflow of ¥2,091,549,895.99, a 73.82% increase in outflow compared to the previous year[7] - The cash inflow from investment activities totaled CNY 252,927,095.09, while cash outflow was CNY 2,344,476,991.08, resulting in a net cash flow of -2,091,549,895.99[17] - The cash inflow from financing activities was CNY 7,284,317,814.17, with cash outflow of CNY 8,655,482,618.20, leading to a net cash flow of -1,371,164,804.03[17] Shareholder Information - Total number of common shareholders at the end of the reporting period is 78,128[9] - The largest shareholder, Beijing Jinyu Group, holds 44.34% of shares, totaling 1,178,645,057 shares[9] - The second-largest shareholder, Jidong Development Group, holds 17.22% of shares, totaling 457,868,301 shares[9] - The company has not reported any changes in the top 10 shareholders due to securities lending or borrowing[10] - There are no preferred shareholders or significant changes in their holdings reported[10] Current Assets - Total current assets decreased from 14,369,358,160.88 CNY to 13,507,059,201.38 CNY, a decline of approximately 6%[11] - Cash and cash equivalents decreased from 6,934,688,088.68 CNY to 5,490,398,180.00 CNY, a decline of about 21%[11] - Accounts receivable increased from 2,619,807,728.78 CNY to 2,759,217,693.05 CNY, an increase of approximately 5.3%[11] - Inventory increased slightly from 2,783,327,687.40 CNY to 2,805,544,495.49 CNY, an increase of about 0.8%[11] - Long-term equity investments decreased from 1,736,511,764.14 CNY to 1,726,814,658.36 CNY, a decline of about 0.6%[11] Investment and R&D - The company recognized non-recurring gains of ¥36,206,837.64 in Q3 2025, with government subsidies contributing ¥30,604,355.22[5] - Research and development expenses were reported at ¥131,836,219.24, a marginal increase from ¥130,569,574.60, indicating continued investment in innovation[14] - The company reported a significant increase in investment income, reaching ¥95,082,873.53, up from ¥88,124,498.93 in the previous period[14] Earnings Per Share - The basic and diluted earnings per share were both CNY 0.0143, compared to -0.1116 and -0.0917 respectively in the previous period[16]

金隅冀东公告，第三季度营收为68.14亿元，下降7.13%；净利润为1.94亿元，下降61.92%。前三季度营 收为185.75亿元，增长0.10%；净利润为4035.49万元，增长113.60%。 ...

Investment Rating - The report maintains an "Overweight" rating for the construction materials industry [1] Core Views - Short-term easing of US-China trade tensions and anticipation of economic work conference guidance [1] - Mid-term expectations for improved profitability in the fiberglass sector [2] - The construction materials sector has shown a 1.60% increase in the past week, underperforming compared to the broader market indices [4] Summary by Sections 1. Bulk Construction Materials Fundamentals and High-Frequency Data - **Cement**: The national average price for high-standard cement is 348.2 RMB/ton, up 1.3 RMB/ton from last week but down 63.0 RMB/ton year-on-year. The average cement inventory ratio is 67.9%, up 0.6 percentage points from last week [11][12][18]. - **Glass**: The average price for float glass is 1243.7 RMB/ton, down 57.3 RMB/ton from last week and down 9.3% year-on-year. Inventory levels have increased, indicating weak demand [44][50]. - **Fiberglass**: The market for non-alkali fiberglass remains stable, with prices holding steady. The average price for 2400tex non-alkali winding direct yarn is between 3250-3700 RMB/ton [5]. 2. Industry Dynamics Tracking - **Investment Trends**: Fixed asset investment growth has slowed, indicating weakness in traditional sectors like real estate and infrastructure. The focus is shifting towards technology and domestic consumption [4]. - **Market Recommendations**: The report suggests focusing on technology sectors benefiting from domestic cycles and improving supply chains in the real estate sector [4]. 3. Weekly Market Review and Sector Valuation - The construction materials sector has underperformed compared to the broader market indices, with a 1.60% increase against a 3.24% rise in the CSI 300 index [4]. - The report highlights the importance of industry self-discipline and the potential for price stabilization in the cement sector due to supply-side adjustments [5][11]. 4. Price and Inventory Trends - **Cement Prices**: The report notes a slight increase in cement prices in certain regions, with expectations for continued price fluctuations due to seasonal demand [11][12]. - **Glass Inventory**: The increase in glass inventory suggests a need for demand recovery to stabilize prices [50]. 5. Recommendations for Key Companies - The report recommends focusing on leading companies in the cement and fiberglass sectors, such as China National Building Material and China Jushi, which are expected to benefit from market adjustments and technological advancements [5].

Group 1 - The median return of active quantitative funds for the week of October 20-24, 2025, was 3.25%, while the Shanghai-Shenzhen 300 Index returned 3.24% and the Wind All A Index returned 3.47% [3][8] - For the year, the median return of active quantitative funds was 27.54%, compared to 18.44% for the Shanghai-Shenzhen 300 Index and 25.86% for the Wind All A Index [3][8] - The top-performing active quantitative funds this week had returns between 9% and 18%, primarily concentrated in the electronics sector, while the underperforming funds had returns between -1% and -3%, mainly focused on the food and beverage sector [3][4][8] Group 2 - The "Super Expectation Stock Selection Strategy" constructs a stock pool based on net profit exceeding expectations and analyst expectations, using the Wind All A Index as the base stock pool [5][14] - This week, the selected strategy yielded a return of 5.48%, outperforming the benchmark index (Wind All A Index) by 2.01% [5][16] - For the year, the selected strategy achieved a return of 46.03%, significantly higher than the benchmark index's return of 25.86%, resulting in an excess return of 20.17% [5][20] Group 3 - The top 30 selected stocks for October 2025 are concentrated in the electronics sector, with the highest return stock being Andar Intelligent (688125.SH) at 18.64%, categorized under mechanical equipment and automation equipment [6][21] - The report highlights that the active quantitative funds with higher returns are predominantly invested in the electronics sector [6][26] - The report emphasizes the importance of analyzing unexpected earnings and their impact on stock price movements, indicating a significant drift pattern following earnings announcements [14][15]

Core Viewpoint - The company, Jinyu Jidong, has confirmed that it possesses the production qualifications for silicate cement used in nuclear power engineering across six of its enterprises, and this year, its products have been utilized in several nuclear power projects [1] Group 1 - The company has six enterprises qualified to produce silicate cement for nuclear power engineering [1] - The silicate cement produced by the company has been used in various nuclear power engineering projects this year [1]

Group 1 - Harbin Air Conditioning plans to transfer 40% equity of its subsidiary, Harbin Fushanchuan Biotechnology Development Co., Ltd. The subsidiary reported a net profit of -16.0963 million yuan for 2024, which is 218.83% of the previous year's net profit absolute value [1] - Xinhua Insurance expects a net profit of 29.986 billion to 34.122 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 45% to 65% [1][2] - Gansu Energy anticipates a net profit of 1.55 billion to 1.6 billion yuan for the first three quarters of 2025, reflecting a year-on-year increase of 11.86% to 15.47% [2][3] Group 2 - Dongfang Tower forecasts a net profit of 750 million to 900 million yuan for the first three quarters of 2025, indicating a year-on-year growth of 60.83% to 93% [4] - Meili Eco announced that its subsidiary won a bid for an EPC project worth 2.375 billion yuan [6] - Bohai Chemical's wholly-owned subsidiary will undergo routine maintenance for its 600,000 tons/year PDH unit, expected to last about 30 days [8] Group 3 - Qin Port Co. reported a total throughput of 317.02 million tons for the first nine months of 2025, a year-on-year increase of 5.56% [10] - Jianglong Shipbuilding won a bid for a 72.99 million yuan fishery enforcement vessel project, accounting for 4.22% of its 2024 audited revenue [11] - Longyuan Technology expects a net profit of 35 million to 40 million yuan for the first three quarters of 2025, representing a year-on-year increase of 50.11% to 71.55% [12] Group 4 - Naipu Mining anticipates a net profit of 61 million to 66 million yuan for the first three quarters of 2025, reflecting a year-on-year decline of 45.16% to 49.32% [14] - Jinggong Steel Structure reported a cumulative contract amount of 17.98 billion yuan for the first nine months of 2025, a year-on-year increase of 4.8% [15][16] - Shenzhen Gas reported a net profit of 918 million yuan for the first three quarters of 2025, a year-on-year decrease of 13.08% [17] Group 5 - Yabao Pharmaceutical's subsidiary received a drug registration certificate for a new diabetes medication [18] - Shaanxi Coal's coal production in September was 14.56 million tons, a year-on-year increase of 5.34% [20] - Sifang New Materials reported a 15.94% year-on-year decline in concrete production for the first three quarters [22] Group 6 - Nanjing Foods reported a consolidated revenue of 276 million yuan in September, a slight increase of 0.0016% year-on-year [23] - Pulaike received a new veterinary drug registration certificate for a flea and tick treatment [24] - Zhucheng Technology received a cash dividend of 15 million yuan from its subsidiary [25] Group 7 - David Medical's subsidiary received a medical device registration certificate for a portable electronic endoscope image processor [26] - Zhongtong Bus reported a 36.88% year-on-year increase in sales in September, totaling 1,106 units [27] - Xiantan Co. reported a 11.95% year-on-year increase in chicken sales revenue in September [28] Group 8 - Bojun Technology expects a net profit of 552 million to 662 million yuan for the first three quarters of 2025, a year-on-year increase of 50% to 80% [30] - Haishi Pharmaceutical's innovative pain relief drug clinical trial application has been accepted [31] - Lingxiao Pump Industry used 80 million yuan of idle funds to purchase financial products [32] Group 9 - Qiangda Circuit's subsidiary completed business registration changes to expand its operational scope [33] - *ST Tianyu's controlling shareholder applied for bankruptcy liquidation due to severe financial difficulties [34] - Baolidi's shareholder plans to reduce holdings by up to 1 million shares [36] Group 10 - Zijin Mining completed the acquisition of Kazakhstan's Raygorodok gold mine, controlling 100% of its rights [44] - Zhonggang Luoyang's indirect controlling shareholder completed a capital increase, raising registered capital from approximately 26.666 billion yuan to 44.824 billion yuan [46] - Jinyu Jidong's director resigned due to work adjustments [47]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000401 证券简称：金隅冀东公告编号：2025-078 金隅冀东水泥集团股份有限公司 第十届董事会第二十次会议决议公告 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。 金隅冀东水泥集团股份有限公司（以下简称公司或本公司）第十届董事会第二十次会议于2025年10月11 日以通讯方式召开，会议应参加表决董事8名，实际参加表决董事8名，高级管理人员列席会议。会议由 董事长刘宇先生召集并主持。会议的召集、召开符合《中华人民共和国公司法》和《公司章程》的有关 规定。会议对所列议案进行了审议，经表决形成如下决议： 一、审议并通过《关于提名第十届董事会非独立董事的议案》 提名葛栋先生（简历详见附件）为公司第十届董事会非独立董事候选人，任期与第十届董事会任期一 致。 葛栋先生的任职资格已经公司董事会提名委员会审核通过。 表决结果：8票同意 0票反对 0票弃权 该议案尚需提请公司股东会审议通过。 二、审议并通过《关于召开2025年第四次临时股东会的议案》 表决结果：8票同意 0票反对 0票弃权 具体内容详见公司同日 ...

Core Viewpoint - The company, Jinyu Jidong Cement Group Co., Ltd., announced the resignation of Ren Qianjin from his positions as a director and a member of the board's nomination committee due to work adjustments [1] Summary by Relevant Sections - **Company Announcement** - Jinyu Jidong Cement Group Co., Ltd. has received a written resignation letter from Ren Qianjin [1] - Ren Qianjin is resigning from his roles as a director and a member of the board's nomination committee [1]

证券代码：000401 证券简称：金隅冀东 公告编号：2025-077 金隅冀东水泥集团股份有限公司 关于董事辞职的公告 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。 金隅冀东水泥集团股份有限公司（以下简称公司或本公司）于近日收 到任前进先生递交的书面辞职报告。因工作调整，任前进先生申请辞去公 司董事、董事会提名委员会委员职务。根据《中华人民共和国公司法》《公 司章程》等有关规定，任前进先生的辞职申请自书面辞职报告送达公司之 日起生效。任前进先生确认其与公司及董事会无不同意见，亦无任何有关 其辞任须提请公司股东注意的事宜。 任前进先生辞职后，继续担任公司副总经理、董事会秘书职务。 截至本公告披露日，任前进先生未持有公司股份。 公司及董事会对任前进先生任职期间为公司经营与发展做出的积极贡 献表示衷心的感谢！ 特此公告。 金隅冀东水泥集团股份有限公司董事会 2025 年 10 月 13 日 ...