Core Points - The company will hold a performance briefing on September 12, 2025, to discuss its half-year results and financial status [2][3] - Investors can submit questions from September 5 to September 11, 2025, for the company to address during the briefing [5][6] - The briefing will be conducted via the Shanghai Stock Exchange's online platform, allowing for interactive communication [3][4] Summary by Sections Meeting Details - The performance briefing is scheduled for September 12, 2025, from 15:00 to 16:00 [2][6] - The meeting will take place on the Shanghai Stock Exchange's online roadshow center [2][4] Participants - Key participants include Chairman Wang Chengdong, Independent Director and Audit Committee Chairman Zheng Wei, and Financial Director Lei Xuefeng [4] Investor Participation - Investors can join the briefing online and will have the opportunity to ask questions [5][6] - Questions can be submitted through the roadshow center or via the company's email before the briefing [5][6] Contact Information - The company provides contact details for inquiries, including a phone number and email address [6]

Market Overview - The housing construction sector experienced a decline of 0.24% on September 4, with high-profile company Gao Xin Development leading the drop [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Stock Performance - Notable stock performances included: - Chongqing Construction (600939) rose by 2.41% to close at 3.40 with a trading volume of 239,600 shares and a turnover of 81.40 million yuan - Longyuan Construction (600491) increased by 0.90% to 3.37 with a trading volume of 292,500 shares and a turnover of 98.35 million yuan - Zhejiang Construction Investment (002761) saw a slight increase of 0.55% to 9.14 with a trading volume of 134,500 shares and a turnover of 123 million yuan - Gao Xin Development (000628) fell by 4.40% to 50.18 with a trading volume of 140,700 shares and a turnover of 715 million yuan [1] Capital Flow - The housing construction sector experienced a net outflow of 102 million yuan from institutional investors, while retail investors saw a net inflow of 88.32 million yuan [1] - Specific capital flows for key companies included: - Ningbo Construction (601789) had a net inflow of 10.02 million yuan from institutional investors, but a net outflow of 9.61 million yuan from retail investors [2] - China State Construction (601668) saw a net inflow of 7.25 million yuan from institutional investors, while retail investors had a net outflow of 50.80 million yuan [2] - Gao Xin Development (000628) faced a significant net outflow of 97.32 million yuan from institutional investors, with retail investors contributing a net inflow of 11.00 million yuan [2]

Group 1 - The company, GaoXin Development, reported that as of August 29, 2025, the number of shareholders is 60,077 [2]

Industry Overview - Self-adhesive membranes are a new type of waterproof material characterized by low-temperature flexibility, self-healing properties, and strong adhesion, allowing for quick construction at room temperature and compliance with environmental standards [1][2] - The production of self-adhesive membranes in China is projected to grow from 402 million square meters in 2015 to 1.477 billion square meters by 2024, driven by advancements in technology and expanding applications [1][8] Industry Development History - The self-adhesive membrane industry in China began in the 1990s with the introduction of products from international brands, followed by local production efforts [4] - By 2000, advancements in technology led to mass production of self-adhesive waterproof membranes, and industry standards were established in 2002 to ensure product quality [4][5] Industry Supply Chain - The supply chain consists of upstream raw material suppliers (asphalt, polymer resins, polyethylene films), midstream manufacturers who produce various self-adhesive membrane products, and downstream applications in construction and infrastructure [6] - The production of petroleum asphalt, a key component, has seen fluctuations, with a projected output of 34.508 million tons in 2024, down from 62.88 million tons in 2020 [6][7] Market Demand and Trends - The self-adhesive membrane industry is closely linked to the real estate sector, which is currently experiencing a downturn, impacting demand [7] - However, infrastructure investment remains robust, with a 3.2% year-on-year growth in the first half of 2025, providing some demand for self-adhesive membranes [7][8] Competitive Landscape - Major players in the self-adhesive membrane industry include Beijing Oriental Yuhong Waterproof Technology Co., Ltd. and Keshun Waterproof Technology Co., Ltd., which leverage technology and brand strength to maintain market leadership [9][11] - Smaller companies focus on niche products and regional markets due to limited resources compared to larger firms [9] Future Industry Trends - The industry is expected to see increased concentration as stricter environmental regulations and rising production costs lead to the elimination of less competitive firms [14] - Companies are expanding internationally to seek new growth opportunities, with notable efforts from leading firms to establish overseas operations [15] - Government policies are increasingly supportive of high-performance waterproof materials, enhancing the growth prospects for self-adhesive membranes [16]

Group 1 - The housing construction sector experienced a decline of 0.39% on September 1, with high-tech development leading the drop [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Group 2 - On the same day, the housing construction sector saw a net outflow of 414 million yuan from main funds, while retail investors contributed a net inflow of 427 million yuan [2] - The table provided shows various companies' fund flows, with notable outflows from companies like 重庆建工 (Chongqing Construction) and 高新发展 (High-tech Development) [2] - Specific fund flow data indicates that 龙元建设 (Longyuan Construction) had a net inflow of 2.67 million yuan from main funds, while 陕建股份 (Shaanxi Construction) experienced a significant outflow of 30.81 million yuan [2]

Market Overview - The housing construction sector experienced a slight decline of 0.01% on August 29, with high-tech development leading the losses [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Stock Performance - Key stocks in the housing construction sector showed varied performance, with China State Construction (601668) closing at 5.59, up 0.54%, while High-Tech Development (000628) closed at 57.62, down 4.96% [1] - The trading volume and turnover for various stocks were significant, with China State Construction recording a turnover of 44.15 billion [1] Capital Flow - The housing construction sector saw a net outflow of 828 million from main funds, while retail investors contributed a net inflow of 484 million [1] - Specific stock capital flows indicated that China State Construction had a net outflow of 6.27 billion from main funds, while retail investors contributed 3.49 billion [2]

Group 1 - The core point of the news is the decline in the stock price of Chengdu High-tech Development Co., Ltd., which fell by 5.06% to 57.56 CNY per share, with a trading volume of 459 million CNY and a turnover rate of 4.06%, resulting in a total market capitalization of 20.277 billion CNY [1] - Chengdu High-tech Development Co., Ltd. was established on November 1, 1992, and listed on November 18, 1996. The company's main business involves construction and smart city development, with construction accounting for 95.74% of its main revenue, other businesses 3.12%, and power semiconductor business 1.14% [1] Group 2 - From the perspective of the top ten circulating shareholders, Southern Fund's Southern CSI 1000 ETF (512100) increased its holdings by 312,800 shares in the second quarter, bringing its total holdings to 1.6331 million shares, which represents 0.85% of the circulating shares. The estimated floating loss today is approximately 5.0136 million CNY [2] - The Southern CSI 1000 ETF (512100) was established on September 29, 2016, with a latest scale of 64.953 billion CNY. Year-to-date returns are 26.28%, ranking 1562 out of 4222 in its category; the one-year return is 68.19%, ranking 1102 out of 3776; and since inception, the return is 11.75% [2] Group 3 - The fund manager of Southern CSI 1000 ETF (512100) is Cui Lei, who has been in the position for 6 years and 297 days. The total asset scale under management is 94.976 billion CNY, with the best fund return during the tenure being 127.15% and the worst being -18.32% [3]

Market Overview - The housing construction sector increased by 0.09% on August 28, with GaoXin Development leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Stock Performance - GaoXin Development (000628) closed at 60.63, up 3.36% with a trading volume of 184,800 shares and a transaction value of 1.1 billion [1] - Shanghai Construction (600170) closed at 2.44, up 0.41% with a trading volume of 1,789,300 shares and a transaction value of 435 million [1] - Shaanxi Construction (600248) closed at 3.94, up 0.25% with a trading volume of 266,100 shares and a transaction value of 104 million [1] - Zhejiang Construction Investment (002761) closed at 9.58, up 0.21% with a trading volume of 241,900 shares and a transaction value of 230 million [1] - China State Construction (601668) closed at 5.56, unchanged with a trading volume of 2,268,800 shares and a transaction value of 1.261 billion [1] - Chongqing Construction (600939) closed at 3.51, down 1.13% with a trading volume of 212,400 shares and a transaction value of 74.18 million [1] - Longyuan Construction (600491) closed at 3.55, down 1.39% with a trading volume of 497,200 shares and a transaction value of 177 million [1] - Ningbo Construction (601789) closed at 5.51, down 1.61% with a trading volume of 711,100 shares and a transaction value of 390 million [1] Capital Flow - The housing construction sector experienced a net outflow of 89.72 million from institutional investors, while retail investors saw a net inflow of 77.20 million [1] - The detailed capital flow for key stocks shows that GaoXin Development had a net inflow of 47.28 million from institutional investors, while retail investors had a net outflow of 41.08 million [2] - Zhejiang Construction Investment had a net outflow of 6.00 million from institutional investors but a net inflow of 859.86 million from retail investors [2] - Other notable net outflows from institutional investors include China State Construction (26.32 million) and Longyuan Construction (33.25 million) [2]

Market Overview - The housing construction sector experienced a decline of 2.59% on August 27, with Longyuan Construction leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Stock Performance - Key stocks in the housing construction sector showed the following closing prices and changes: - Ningbo Construction: 5.60, -0.18% - Shaanxi Construction: 3.93, -2.24% - Shanghai Construction: 2.43, -2.41% - China State Construction: 5.56, -2.63% - Zhejiang Construction Investment: 9.56, -2.65% - Chongqing Construction: 3.55, -2.74% - Gaoxin Development: 58.66, -3.11% - Longyuan Construction: 3.60, -3.74% [1] Capital Flow - The housing construction sector saw a net outflow of 494 million yuan from main funds, while retail funds had a net inflow of 302 million yuan [1] - The following table summarizes the capital flow for key stocks: - Ningbo Construction: Main funds - 15.94 million, Retail - -7.21 million - Shanghai Construction: Main funds - -15.83 million, Retail - 3.49 million - Chongqing Construction: Main funds - -16.65 million, Retail - 16.89 million - Shaanxi Construction: Main funds - -17.75 million, Retail - 12.01 million - Longyuan Construction: Main funds - -20.08 million, Retail - 14.22 million - Zhejiang Construction Investment: Main funds - -22.32 million, Retail - 20.19 million - Gaoxin Development: Main funds - -57.68 million, Retail - 58.94 million - China State Construction: Main funds - -36.02 million, Retail - 18.47 million [2]

Core Points - The stock price of Gaoxin Development (000628) closed at 60.29 yuan, down 1.7% as of August 25, 2025, with a turnover rate of 16.64% and a trading volume of 319,900 hands, amounting to 1.968 billion yuan in transaction value [1] - The latest financial results show that for the first half of 2025, the company reported total revenue of 2.493 billion yuan, a year-on-year decrease of 17.46%, while net profit attributable to shareholders was 669.23 million yuan, an increase of 14.06% [1] - The company has a current ratio of 1.239, a quick ratio of 1.228, and a debt-to-asset ratio of 83.29% [1] Investment and Business Activities - Gaoxin Development has made investments in 21 companies and participated in 25 bidding projects [2] - The company holds 6 trademark registrations and 4 patent registrations, along with 25 administrative licenses [2] Company Background - Chengdu Gaoxin Development Co., Ltd. was established in 1992 and is primarily engaged in the construction industry [1]