Major Announcements - Daye Co., Ltd. states that its robotic tendon products are not yet in mass production and have not generated substantial revenue [9] - Shandong Road and Bridge's subsidiary won a construction project for the Yiyuan to Zoucheng expressway with a total bid price of approximately 94.02 billion yuan [14][15] - ST Chang Pharmaceutical's stock will be subject to a delisting risk warning starting December 29, 2025, due to negative net assets and false reporting in annual reports from 2021 to 2023 [8] Company Specific Updates - Yongding Co., Ltd. clarifies that it does not directly manufacture controllable nuclear fusion devices but provides materials for the winding of magnetic coils; its revenue from related activities is less than 1% of total revenue and is currently unprofitable [1] - Reascend Technology reports that it has no current orders for high-silicon oxide fiber products, and future order acquisition is highly uncertain; revenue from aerospace-related products is only about 0.5% of total revenue [2] - China Duty Free Group's subsidiary won a bid for the Beijing Capital International Airport duty-free project with a guaranteed operating fee of 480 million yuan for the first year [3] - XWANDA's subsidiary is involved in a lawsuit with a claim amount of approximately 2.314 billion yuan related to quality issues in battery cells delivered between June 2021 and December 2023 [4] - Zhejiang Rongtai plans to establish a joint venture in Thailand with Weichuang Electric to develop mechatronic systems for smart robots [5] - Defu Technology extends the deadline for acquiring shares in a Luxembourg copper foil company to January 9, 2026 [6][7] - Xinke Mobile states that its revenue from satellite internet is minimal and does not significantly impact overall performance [10] - Daya Intelligent received a notice from the China Securities Regulatory Commission regarding an investigation into information disclosure violations [11] Investment and Financial Updates - Guangdong Construction's subsidiary signed a framework agreement for a green methanol project with an estimated total investment of about 6 billion yuan [13] - XCMG Machinery's controlling shareholder plans to increase its stake by no less than 80 million yuan [18] - ST Guohua's major shareholder increased its stake to 26% without triggering mandatory tender offer obligations [19] - ST Zhanggu's stock will resume trading on December 29, 2025, following a capital increase from a restructuring plan [20] - Tianchuang Fashion's controlling shareholder will change to Anhui Xianrui, with stock resuming trading on December 29, 2025 [21]

财经频道更多独家策划、专家专栏，免费查阅>> 责任编辑：钟离 格隆汇12月26日丨山东路桥(000498.SZ)公布，近日，招标单位山东高速基础设施建设有限公司（简 称"山高基建公司"）发布了《潍坊至邹城高速公路沂源至邹城段工程施工中标结果公告》《潍坊至邹城 高速公路潍坊至沂源段工程K0+000-K50+040段施工中标结果公告》《潍坊至邹城高速公路昌乐联络线 工程施工中标结果公告》并下发了《中标通知书》。1.工程建设集团被确定为沂源至邹城高速施工项目 WZYZSG-1标段中标人。中标价：3,757,820,641.00元。工期：1095日历天。工程质量：交工验收的质量 评定合格，竣工验收的质量评定优良。工程安全目标：项目实施过程中无安全责任事故。2.路桥集团被 确定为沂源至邹城高速施工项目WZYZSG-2标段中标人。中标价：3,771,286,666.00元。工期：1095日历 天。工程质量：交工验收的质量评定合格，竣工验收的质量评定优良。工程安全目标：项目实施过程中 无安全责任事故。3.宁夏公路被确定为沂源至邹城高速施工项目WZYZSG-3标段中标人。中标价： 1,872,650,932.00元。工期：1 ...

公司子公司获得沂源至邹城高速施工项目各标段中标价合计为9,401,758,239.00元，占公司2024年度经审 计营业收入的13.18%；获得潍坊至沂源高速施工一标段施工项目中标价为3,399,825,633.00元，占公司 2024年度经审计营业收入的4.77%；获得潍邹高速昌乐联络线施工一标段施工项目中标价为 1,436,376,749.00元，占公司2024年度经审计营业收入的2.01%。若项目顺利实施，将对公司经营业绩产 生积极影响。上述项目施工期均为1095日历天，公司将在施工工期内按照施工进度确认收入。本项目招 标方山高基建公司为本公司控股股东山东高速集团有限公司的全资子公司，为本公司关联方。本项目所 涉关联交易事项已经公司2025年第一次临时股东大会、2025年第三次临时股东会审议通过。 格隆汇12月26日丨山东路桥(000498.SZ)公布，近日，招标单位山东高速基础设施建设有限公司（简 称"山高基建公司"）发布了《潍坊至邹城高速公路沂源至邹城段工程施工中标结果公告》《潍坊至邹城 高速公路潍坊至沂源段工程K0+000-K50+040段施工中标结果公告》《潍坊至邹城高速公路昌乐联络线 工程施工 ...

1.工程建设集团被确定为沂源至邹城高速施工项目 WZYZSG-1 标段 中标人。中标价：3,757,820,641.00 元。工期：1095 日历天。工程质 量：交工验收的质量评定合格，竣工验收的质量评定优良。工程安全目 标：项目实施过程中无安全责任事故。 证券代码：000498 证券简称：山东路桥 公告编号：2025-136 山东高速路桥集团股份有限公司 关于投标项目中标的公告 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。 2025 年 12 月 16 日，山东高速路桥集团股份有限公司（以下简称 "公司"或"本公司"）在巨潮资讯网（www.cninfo.com.cn）及《中 国证券报》《证券时报》《证券日报》《上海证券报》（以下简称"指 定媒体"）披露了《关于投标项目评标结果公示的提示性公告》 （2025-130），公司子公司山东高速工程建设集团有限公司（以下简称 "工程建设集团"）、山东省路桥集团有限公司（以下简称"路桥集 团"）、宁夏公路桥梁建设有限公司（以下简称"宁夏公路"）被确定 为潍坊至邹城高速公路沂源至邹城段工程（以下简称"沂源至邹城高速"） ...

格隆汇12月26日｜山东路桥(000498.SZ)公告称，公司子公司在潍坊至邹城高速公路沂源至邹城段工程 等项目中标，中标价合计约94.02亿元，占公司2024年度经审计营业收入的13.18%。若项目顺利实施， 将对公司经营业绩产生积极影响。 ...

山东路桥公告称，近日子公司工程建设集团、路桥集团等中标多个高速项目。其中，沂源至邹城高速各 标段中标价合计 94.02 亿元，占 2024 年营收 13.18%；潍坊至沂源高速施工一标段中标价 34.00 亿元， 占比 4.77%；潍邹高速昌乐联络线施工一标段中标价 14.36 亿元，占比 2.01%。项目施工期均为 1095 日 历天。招标方为公司关联方，相关关联交易已获审议通过。项目尚未签正式合同，存不确定性和施工风 险。 ...

Summary of Shandong Road and Bridge's Conference Call Company Overview - **Company**: Shandong Road and Bridge - **Industry**: Infrastructure and Construction Key Points Dividend Strategy - Shandong Road and Bridge plans to increase its dividend payouts to attract institutional investors and encourage the conversion of convertible bonds into stocks. The decision on dividends is influenced by performance, the State-owned Assets Supervision and Administration Commission (SASAC) assessment (2026), and cash flow conditions [2][4] - The company aims to enhance dividends based on stable and increasing performance, while also considering the SASAC's upcoming assessment criteria, which may include stock price, dividends, and market value management [4][8] Financial Performance and Cash Flow - The company is currently facing negative cash flow, which impacts its ability to pay dividends. To address this, it plans to strengthen receivables collection, resolve overdue payments, and utilize low-interest special loans [2][8] - National special bonds positively affect Shandong Road and Bridge by providing stable funding for infrastructure projects, although improvements in payment speed and timeliness are not yet evident [5] Future Performance Expectations - The company's performance over the next one to two years is contingent on the national and Shandong Province's 14th Five-Year Plan, with key indicators being the target for operational and under-construction mileage, expected to reach 12,000 to 15,000 kilometers [6] - The gross profit margin for projects within Shandong Province remains stable at 8% to 13.5%, while margins for projects outside the province are slightly lower. Maintenance projects yield the highest margins, followed by mature road and bridge projects [7] SASAC Assessment and Market Management - The SASAC is expected to release formal assessment documents in 2026, focusing on market value management and stock price assessments, which may include various metrics such as dividends and ESG factors [2][9] - The specific weight and format of these assessments are yet to be determined, but they will likely include a professional evaluation of stock price-related indicators [9]

本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 转债代码：127083 转债简称：山路转债 转债代码：127083 转债简称：山路转债 证券代码：000498 证券简称：山东路桥 公告编号：2025-135 转股期起止时间：2023 年 10 月 9 日至 2029 年 3 月 23 日 暂停转股时间：2025 年 12 月 12 日至 2025 年 12 月 23 日（即 2025 年第三季度权益分派股权登记日） 恢复转股时间：2025 年 12 月 24 日 山东高速路桥集团股份有限公司（以下简称"公司"）因实施 2025 年第三季度权益分派，根据《山东高速路桥集团股份有限公司 向不特定对象发行可转换公司债券募集说明书》及《深圳证券交易所 上市公司自律监管指南第 1 号——业务办理：第二部分 2.4 向不特定 对象发行可转换公司债券》等相关规定，经向深圳证券交易所申请公 司可转换公司债券自 2025 年 12 月 12 日起至本次 2025 年第三季度权 益分派股权登记日暂停转股。具体内容详见公司 2025 年 12 月 11 日 在《中国证券 ...

Key Points - The core message of the news highlights significant corporate announcements, including investments, project contracts, share buybacks, and equity transfers across various companies in the industry. Group 1: Corporate Announcements - Zhuoran Co., Ltd. and its actual controller received a notice of case filing [1] - Huati Technology clarified that it is not involved in commercial aerospace-related businesses [1] Group 2: Project Investments - Qingdao Port plans to invest CNY 90.97 billion in the construction of the first phase of the Dongjiakou Container Terminal project [1] - Qingdao Port also intends to invest CNY 66.15 billion in the construction of the Dongjiakou General Terminal project [1] - Jinggong Technology's subsidiary plans to invest in the construction of an intelligent manufacturing base for advanced composite materials [1] Group 3: Contract Awards - Shandong Road and Bridge's subsidiary is expected to win a construction project for the Weifang to Yiyuan Expressway with a bid price of CNY 3.4 billion [1] - Tianjin Port won a procurement project for gantry cranes worth CNY 89.7655 million [1] - Tianjin Port also secured a procurement project for door machines valued at CNY 185 million [1] - Dayu Water-saving is part of a consortium that is expected to win a drainage remediation project in Hainan Province [1] Group 4: Equity Transfers - Sanyuan Co., Ltd. plans to transfer 10% of Sanyuan Dehong's equity to Nanjiao Farm for CNY 26.8515 million [1] - Huayuan Holdings' subsidiary intends to acquire 51% of Warm Core Technology [1] - Qiyiyi plans to acquire 52.4596% of Fangzhou Technology and provide additional capital [1] Group 5: Share Buybacks - Baiao Chemical has repurchased a total of 11.3876 million shares of the company [2] Group 6: Shareholding Changes - Sanwei Communication's chairman and general manager Li Yuelun plans to reduce his holdings by up to 1.4906% [3] - Aikedi's Hong Kong Lingtuo intends to reduce its holdings by up to 2.9882% [3] Group 7: Other Financial Activities - Chongqing Steel plans to raise no more than CNY 1 billion through a private placement to Huabao Investment [3] - Bolivi plans to raise no more than CNY 650 million through a private placement [3] - Jinggu Co., Ltd. received a notification for the Avatar low-carbon wheel project [3]

Key Points - Zoran Co., Ltd. and its actual controller received a notice of case filing [1] - Huati Technology clarified that it is not involved in commercial aerospace-related businesses [1] Investment Projects - Qingdao Port plans to invest CNY 9.097 billion in the construction of the first phase of the Dongjiakou Container Terminal [1] - Qingdao Port also plans to invest CNY 6.615 billion in the construction of the Dongjiakou General Terminal [1] - Jinggong Technology's subsidiary plans to invest in the construction of an intelligent manufacturing base for advanced composite materials [1] Contract Awards - Shandong Road and Bridge's subsidiary is expected to win a construction project for the Weifang to Yiyuan Expressway with a bid price of CNY 3.4 billion [1] - Tianjin Port won a procurement project for gantry cranes worth CNY 89.7655 million [1] - Tianjin Port also won a procurement project for door machines worth CNY 185 million [1] - Dayu Water-saving is expected to win a drainage remediation project in Hainan Province's Qionghai East Sea Village [1] Equity Transfers - Sanyuan Co., Ltd. plans to transfer 10% of Sanyuan Dehong's equity to Nanjiao Farm for CNY 26.8515 million [1] - Huayuan Holdings' subsidiary plans to acquire 51% of Warm Core Technology [1] - Qiyiyi plans to acquire 52.4596% of Fangzhou Technology and provide additional capital [1] Share Buybacks - Baiao Chemical has repurchased a total of 11.3876 million shares [2] Shareholding Changes - Sanwei Communication's chairman and general manager Li Yuelun plans to reduce his holdings by up to 1.4906% [2] - Aikedi's Hong Kong Lintuo plans to reduce its holdings by up to 2.9882% [2] Other Financial Activities - Chongqing Steel plans to raise no more than CNY 1 billion through a private placement to Huabao Investment [2] - Bolivi plans to raise no more than CNY 650 million through a private placement [2] - Jingu Co., Ltd. received a notification for the Avatar low-carbon wheel project [2]