资料显示，中钢国际工程技术股份有限公司位于北京市海淀区海淀大街8号中钢国际广场26层,吉林省吉 林市昌邑区江湾路2号世贸万锦10层，成立日期1999年4月15日，上市日期1999年3月12日，公司主营业 务涉及工程技术服务和设备集成及备品备件供应业务。主营业务收入构成为：工程总承包93.64%，商 品销售4.54%，服务1.59%，其他(补充)0.23%。 中钢国际所属申万行业为：建筑装饰-专业工程-国际工程。所属概念板块包括：工业4.0、数字经济、东 北振兴、一带一路、小盘等。 截至9月30日，中钢国际股东户数5.43万，较上期增加4.18%；人均流通股26432股，较上期减少4.01%。 2025年1月-9月，中钢国际实现营业收入91.75亿元，同比减少27.20%；归母净利润5.56亿元，同比减少 13.21%。 分红方面，中钢国际A股上市后累计派现23.61亿元。近三年，累计派现11.27亿元。 责任编辑：小浪快报 12月19日，中钢国际盘中上涨2.02%，截至09:52，报6.56元/股，成交5005.00万元，换手率0.54%，总市 值94.11亿元。 资金流向方面，主力资金净流入180.05万元 ...

证券日报网讯12月18日，中钢国际（000928）在互动平台回答投资者提问时表示，公司主要服务于钢铁 行业。目前正在执行的西上庄超临界低热值煤热电EPC项目为电力项目。 ...

格隆汇12月18日丨中钢国际(000928.SZ)在投资者互动平台表示，公司主要服务于钢铁行业。目前在执 行的西上庄超临界低热值煤热电EPC项目为电力项目。 ...

中钢国际（000928）12月16日披露的投资者关系活动记录表显示，公司于当日召开分析师会议，长江证 券、博时基金、华泰资产等机构投资者参会。 中钢国际主营业务是以工程总承包为核心的工业工程、技术开发和工业服务；在节能环保、安全和职业 健康、智能制造等领域进行多元化拓展，是冶金工程领域最早"走出去"的中国企业之一。截至9月底， 公司新签合同共计106.49亿元，其中国内40.54亿元，海外65.95亿元。 近年来，中钢国际持续加强科技创新，构建了以高炉低碳化、带式球团、高端长材轧制、直接还原铁、 氢冶金、减污降碳协同增效、碳资产管理与咨询为核心的低碳冶金工程技术体系，超前谋划低碳冶金前 沿技术，做强低碳工程技术集成服务能力，积极推动低碳冶金技术工程化实践，助力钢铁行业绿色转 型。 2025年前三季度公司实现营收91.75亿元，较上年同期下降27.2%，其中海外营收占比超过70%。展望全 年，公司海外营收的逐步提升，对冲了国内行业减量调结构带来的风险，营收结构实现优化，为公司主 业发展提供了稳健动能，同时聚焦增强核心功能、不断提升自身竞争力，确保公司业绩稳健发展。 中钢国际向机构投资者介绍，公司坚持稳健经营、合 ...

证券代码：000928 证券简称：中钢国际 中钢国际工程技术股份有限公司投资者关系活动记录表 编号：2025-10 投资者关系活动 类别 □ 特定对象调研 ☑ 分析师会议 □ 媒体采访 □ 业绩说明会 □ 新闻发布会 □ 路演活动 □ 现场参观 □ 其他（） 参与单位名称及 人员姓名 长江证券、博时基金、华泰资产、仁桥资产、中金资管、中信建投基 金、上海海楚资产、阳光天弘资产 时间 2025 年 12 月 16 日 地点 公司会议室 上市公司接待 人员姓名 副总经理、财务总监、董事会秘书 袁陆生 董办主任 戚欣 投资者关系活动 主要内容介绍 公司近期经营情况，主要交流内容附后。 交流内容未涉及公司内幕信息。 附件清单 投资者关系活动记录（2025 年 12 月 16 日） 中钢国际工程技术股份有限公司 1.公司全年业绩展望？ 今年以来，公司面对国内钢铁行业"减量调结构"的趋势，主动发挥核心专 业技术优势，抓住产业整合、产线升级、工艺低碳化的机遇，开展差异化竞争。 重点专注"两优"，即重点维护资信良好、经营状况好的"优质客户"；海外市 场外需韧性犹存，但风险突出，随着全球贸易保护主义持续加剧，海外项目落地 的时 ...

Investment Rating - The report maintains a "stronger than the market" investment rating for the construction and decoration industry [3]. Core Viewpoints - The Central Economic Conference has set the tone for "dual easing," indicating that incremental policies and key projects are expected to advance [12][13]. - There is a significant increase in special bond net financing, with a cumulative net financing of 3.88 trillion yuan as of December 13, 2025, which is higher than the same period in the previous three years [13]. - The macroeconomic focus remains on stable growth, with expectations for further policies to promote infrastructure and real estate demand in the coming year [12]. Summary by Sections 1. Industry Viewpoints and Investment Recommendations - The construction and decoration index fell by 1.59% last week, with specific sectors like landscaping engineering (+1.74%) and municipal engineering (+0.20%) performing better [12]. - The Central Economic Conference emphasized a more proactive fiscal policy and moderately loose monetary policy, suggesting that strategic projects will accelerate [12]. - The report identifies three main investment lines: 1. Recommend state-owned enterprises benefiting from national key projects, such as China Railway Construction and China State Construction [17]. 2. Focus on high-prosperity segments related to major strategic projects, recommending companies like High Hope Explosive and China Railway Industry [17]. 3. Support for companies transitioning to new productive forces like AI and robotics, recommending firms such as Roman Holdings and Hongrun Construction [17]. 2. Market Review - The report notes that the special bond issuance has completed 103% of the annual issuance target, with a total of 4.54 trillion yuan issued [13][16]. - The construction sector's performance is tracked, with specific stocks showing significant gains, such as Yaxiang Integration (+25.2%) and Hexin Instruments (+13.4%) [23]. 3. Key Company Dynamics - The report tracks significant company announcements, including China Chemical's nylon new material project achieving full production capacity and Shanghai Construction's provision of guarantees totaling 63.89 billion yuan [30]. 4. Industry Valuation Status - As of December 12, 2025, the PE ratios for various construction sub-sectors are as follows: housing construction (6.25x), municipal engineering (7.89x), and chemical engineering (10.56x) [31].

Core Insights - The article highlights the top 20 stocks in the S&P China A-Share Dividend Opportunity Index (CSPSADRP) based on their performance and dividend yield as of December 15, 2025 [1][4] Group 1: Stock Performance - The top-performing stock is LuRi Co., Ltd. (002083.SZ) with a daily increase of 10.03% and a year-to-date increase of 138.01% [1][4] - Dai Mei Co., Ltd. (603730.SH) ranks second with a daily increase of 3.58% and a year-to-date increase of 22.61% [1][4] - Changbao Co., Ltd. (002478.SZ) follows with a daily increase of 3.24% and a year-to-date increase of 69.53% [1][4] Group 2: Dividend Yields - Jiangsu Jinzhong (600901.SH) offers the highest dividend yield among the top 20 stocks at 6.70% [1][4] - Other notable dividend yields include Changsha Bank (601577.SH) at 6.54% and Huaxia Bank (600015.SH) at 5.97% [1][4] - The average dividend yield for the top 20 stocks varies, with several companies offering yields above 5% [1][4] Group 3: Additional Stock Insights - The performance of stocks like Midea Group (000333.SZ) shows a year-to-date increase of 12.77% despite a daily increase of only 1.37% [1][4] - Some stocks, such as Oppein Home Group (603833.SH), have experienced a year-to-date decline of 22.63% [1][4] - The data reflects a diverse range of performance and dividend strategies among the top stocks in the index [1][4]

Investment Rating - The industry investment rating is "Overweight" [2][25]. Core Insights - Fixed asset investment in China showed a cumulative year-on-year decline of 2.6% from January to November 2025, with manufacturing investment increasing by 1.9% [2][3]. - Traditional infrastructure investment has seen a widening decline, necessitating a stabilization of investment. Infrastructure investment (including all categories) grew by only 0.1% year-on-year, a decrease of 1.4 percentage points compared to the previous month [4][3]. - Real estate investment remains low, with a year-on-year decline of 15.9% from January to November 2025, indicating a weak recovery trajectory [11][3]. Summary by Sections Fixed Asset Investment - The cumulative year-on-year decline in fixed asset investment is 2.6%, with a decrease of 0.9 percentage points from the previous month [3]. - Manufacturing investment has increased by 1.9%, but this is still a decline of 0.8 percentage points compared to the previous month [2]. Infrastructure Investment - Infrastructure investment (excluding electricity) has a year-on-year decline of 1.1%, with a decrease of 1.0 percentage points from the previous month [4]. - Specific sectors such as transportation, storage, and postal services saw a decline of 0.1%, while water, environment, and public facilities management experienced a decline of 6.3% [4]. Regional Investment Trends - Eastern regions reported a year-on-year decline of 6.6%, while central and western regions saw declines of 1.7% and 0.2%, respectively. The northeastern region faced a significant decline of 14.0% [4]. Real Estate Investment - Real estate investment has decreased by 15.9% year-on-year, with construction starts down by 20.5% and completions down by 18.0% [11]. - The current cycle is characterized by excessive clearing of supply entities and difficulties in inventory replenishment, leading to a slow recovery in investment [11]. Investment Recommendations - For 2026, the industry is expected to stabilize, with emerging sectors likely to benefit from major national strategies. Key companies to watch include Sichuan Road and Bridge, China Chemical, and others in new infrastructure and overseas markets [16].

Investment Rating - The report maintains an "Overweight" rating for the industry, indicating a positive outlook for investment opportunities in the sector [1]. Core Insights - Fixed asset investment growth in China has further declined, with a cumulative year-on-year decrease of 2.6% for January to November 2025, a drop of 0.9 percentage points compared to the previous period [2][3]. - Traditional infrastructure investment has seen an expanded decline, necessitating measures to stabilize investment. Infrastructure investment (including all categories) grew by only 0.1% year-on-year, down 1.4 percentage points from the previous month [4]. - Real estate investment remains low, with a year-on-year decrease of 15.9% for January to November 2025, indicating a weak recovery trajectory [11]. Summary by Sections Fixed Asset Investment - The cumulative year-on-year growth rate for fixed asset investment is -2.6%, with manufacturing investment showing a slight increase of 1.9% [2][3]. - The decline in traditional infrastructure investment has intensified, with significant drops in various sectors, including transportation and public facilities [4]. Infrastructure Investment - Infrastructure investment (excluding electricity) has decreased by 1.1% year-on-year, with notable declines in transportation and environmental management sectors [4]. - Regional investment disparities are evident, with the eastern region experiencing a 6.6% decline year-on-year [4]. Real Estate Investment - Real estate investment has decreased by 15.9% year-on-year, with construction starts down by 20.5% and completions down by 18.0% [11]. - The report anticipates a slow recovery in real estate investment due to challenges in inventory replenishment and supply chain issues [11]. Investment Recommendations - The report suggests that in 2026, industry investment is expected to stabilize, with emerging sectors likely to benefit from national strategic initiatives [15]. - Specific companies are highlighted for potential investment, including Sichuan Road and Bridge, China Chemical, and others in the new infrastructure and overseas markets [15].

Investment Rating - The report rates the construction engineering industry as "Overweight" [1] Core Insights - The central economic work conference emphasizes the need to stabilize investment and implement major projects to support economic growth [3][4] - The State-owned Assets Supervision and Administration Commission (SASAC) urges central enterprises to actively promote the implementation of significant projects to ensure stable supply and prices of essential products [5][6] - The Ministry of Finance highlights the importance of government investment in driving economic recovery and encourages the issuance of long-term special bonds to support major construction projects [6] Summary by Sections Recent Key Reports - The report discusses the need for high-demand, high-barrier, and high-profit leading companies in the construction sector, recommending sectors such as AI, controlled nuclear fusion, and low-altitude economy [11][13] - It notes that the construction industry has seen a decline in net profit, with a 10% year-on-year decrease in the first three quarters [15][16] Key Company Recommendations - Recommended companies include China State Construction (dividend yield 5.25%), China Railway (dividend yield 4.80%), and China Communications Construction (dividend yield 1.92%) [9][29] - The report suggests focusing on companies with strong dividend yields and stable growth, particularly in the context of debt reduction and anti-competitive policies [12][29] Macro/Meso/Micro Data - The report indicates a projected increase in broad infrastructure funding by 7.3% in 2025, driven by government bonds and domestic loans [32][34] - It highlights the importance of private capital participation in infrastructure projects to enhance funding and project execution [28]