证券研究报告 | 行业周报 gszqdatemark 2025 10 26 年 月 日 建筑装饰 国有"三资"管理深化，建筑国企有哪些投资机会？ 多地陆续推动国有"三资"改革，国资盘活及潜力挖掘有望提速。近期， 多省市陆续推出国有"三资"改革举措，拟充分挖掘各类国资潜力，通过并 购重组、证券化等方式，加快变现和利用现有资源。其中湖北省等地召开 相关会议，提出"一切国有资源尽可能资产化、一切国有资产尽可能证券 化、一切国有资金尽可能杠杆化"三项原则，并明确"能用则用、不用则 售、不售则租、能融则融"的四种处置方式；安徽省出台《安徽省推进"大 资产"统筹管理总体工作方案》，通过协调各部门推动"三资"改革落地； 深圳市发布《深圳市推动并购重组高质量发展行动方案（2025—2027 年）》， 积极推动市内并购重组和产业链整合；河南省则对河南能源和平煤神马实 施战略重组，拟重塑河南能源产业格局。预计后续将有更多省份及国资单 位出台相关政策或召开相关会议，持续挖掘和盘活国有"三资"，提升国资 使用效率。 各类国资盘活范围有望扩大，地方资金来源将得到有效补充。近年来地方 土地出让收入下降，税收增速放缓，债务管控压力持续，地 ...

证券代码：000928 证券简称：中钢国际 公告编号：2025-41 中钢国际工程技术股份有限公司 关于归还暂时补充流动资金的募集资金的公告 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。 中钢国际工程技术股份有限公司（以下简称"公司"）于 2024 年 10 月 30 日召开第十届董事会第二次会议和第十届监事会第二次会议，分别审议通过了 《关于使用部分闲置募集资金暂时补充流动资金的议案》，公司拟使用 2.6 亿元 闲置募集资金暂时用于补充流动资金，使用期限为自董事会审议通过之日起不超 过 12 个月。具体内容详见 2024 年 10 月 31 日在《证券时报》《上海证券报》及 巨潮资讯网上刊登的《关于使用部分闲置募集资金暂时补充流动资金的公告》（公 告编号：2024-77）。 截至披露日，公司已将暂时用于补充流动资金的 2.6 亿元募集资金全部归还 至募集资金专项账户，使用期限未超过 12 个月。公司已将上述归还情况通知了 保荐机构及保荐代表人。 特此公告。 中钢国际工程技术股份有限公司董事会 2025 年 10 月 24 日 1 ...

截至6月30日，中钢国际股东户数5.21万，较上期减少4.28%；人均流通股27537股，较上期增加4.47%。 2025年1月-6月，中钢国际实现营业收入67.45亿元，同比减少25.66%；归母净利润4.24亿元，同比增长 1.11%。 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。 机构持仓方面，截止2025年6月30日，中钢国际十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股2115.35万股，相比上期增加1115.09万股。南方中证1000ETF（512100）位居第五大流通 股东，持股791.68万股，相比上期增加145.74万股。易方达新兴成长混合（000404）、工银物流产业股 票A（001718）、易方达科瑞混合（003293）退出十大流通股东之列。 中钢国际今年以来股价涨9.54%，近5个交易日涨4.89%，近20日涨5.06%，近60日涨0.00%。 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 ...

2025年10月23日 MACD金叉信号形成，这些股涨势不错！ 责任编辑：杨赐 标普中国 A 股红利机会指数(CSPSADRP) | 序号 | 代码 | 简称 | 更日涨幅 | 年内涨幅 | 股息率(近12个 | | --- | --- | --- | --- | --- | --- | | | | | (%) | (%) | 月) (%) | | 1 | 603299 SH | 苏盐井神 | 5.93 | 15.78 | 3.60 | | 2 | 603730.SH | 岱美股份 | 4.43 | 14.15 | 3.57 | | 3 | 000928.SZ | 中钢国际 | 4.27 | 12.30 | 4.38 | | 4 | 002807.SZ | 江阴银行 | 3.56 | 25.93 | 3.82 | | 5 | 600938.SH | 中国海油 | 3.51 | -3.50 | 4.69 | | 6 | 601288.SH | 农业银行 | 2.67 | 58.31 | 2.99 | | 7 | 605090 SH | 九丰能源 | 2.60 | 24.16 | 3.37 | | 8 | 601 ...

Core Insights - The professional engineering sector saw a rise of 0.71% on October 22, with Zhonghua Rock and Soil leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Zhonghua Rock and Soil (002542) closed at 4.46, up 10.12% with a trading volume of 1.99 million shares and a transaction value of 884 million [1] - China Aluminum International (601068) closed at 5.93, up 10.02% with a trading volume of 475,200 shares and a transaction value of 267 million [1] - Tianwo Technology (002564) closed at 9.02, up 10.00% with a trading volume of 555,900 shares and a transaction value of 490 million [1] - Other notable performers include Zhongyan Dadi (003001) up 7.06% and Beifang International (000065) up 5.44% [1] Capital Flow - The professional engineering sector experienced a net inflow of 413 million in main funds, while retail funds saw a net outflow of 742,620 [2][3] - Major stocks like Beifang International and Tianwo Technology attracted significant main fund inflows of 207 million and 110 million respectively [3] - Conversely, retail investors showed a net outflow from several stocks, including Tianwo Technology and Zhonghua Rock and Soil [3]

Group 1 - The core viewpoint of the article highlights a significant decline in China's metal smelting equipment production, with a year-on-year decrease of 17.4% in August 2025 and a cumulative decline of 14.9% from January to August 2025 [1][1][1] Group 2 - The article mentions specific listed companies in the metal smelting sector, including China Steel International (000928), CITIC Heavy Industries (601608), Dalian Heavy Industry (002204), Taiyuan Heavy Industry (600169), China First Heavy Industries (601106), Shanghai Electric (601727), and Dongfang Electric (600875) [1][1][1] - According to the National Bureau of Statistics, the production of metal smelting equipment in China reached 57,000 tons in August 2025, indicating a downward trend in the industry [1][1][1] - Cumulative production of metal smelting equipment from January to August 2025 totaled 451,000 tons, reflecting a significant reduction in output compared to previous years [1][1][1]

| 序号 | 4683 | 简称 | 東日涨幅 | 年内涨幅 | 股息率 (近12个 | | --- | --- | --- | --- | --- | --- | | | | | (%) | (%) | 月) (%) | | 1 | 601686.SH 友发集团 | | 10.03 | 31.48 | 4.24 | | 2 | 002083.SZ | 录日股份 | 10.00 | 29.75 | 2.33 | | 3 | 603299.SH | 苏盐井神 | 5.07 | 5.26 | 3.96 | | 4 | 600026.SH | 中远海能 | 3.96 | 10.89 | 3.41 | | 5 | 603730.SH | 岱美股份 | 3.55 | 5.83 | 3.85 | | 6 | 600188.SH | 兖矿能源 | 3.06 | 15.60 | 6.13 | | 7 | 601857.SH | 中国石油 | 2.50 | 1.78 | 5.45 | | 8 | 000928.SZ | 中钢国际 | 2.21 | 6.54 | 4.61 | | ਰੇ | 007588 SZ | 金杯申 | 2 ...

Investment Rating - The industry investment rating is currently neutral, indicating that the industry is expected to perform in line with the overall market [22]. Core Insights - The fixed asset investment and manufacturing investment growth rates have continued to decline, with a cumulative year-on-year decrease of 0.5% for fixed asset investment from January to September 2025, and a 4.0% year-on-year increase in manufacturing investment, which is a decline of 1.1 percentage points compared to the previous month [3][4]. - Infrastructure investment is under pressure, with a year-on-year growth of 3.3% for total infrastructure investment and 1.1% for infrastructure investment excluding electricity, both showing a decline in growth rates compared to the previous month [4]. - Real estate investment remains low, with a year-on-year decrease of 13.9% from January to September 2025, and construction starts down by 18.9% [10]. Summary by Sections Economic Overview - The GDP growth for the first three quarters of 2025 is reported at 5.2%, with quarterly growth rates of 5.4%, 5.2%, and 4.8% respectively [3]. Infrastructure Investment - Infrastructure investment growth is under pressure, with specific sectors like transportation, water conservancy, and public utilities showing varying degrees of decline [4]. - Eastern regions experienced a year-on-year investment decline of 4.5%, while central and western regions saw a slight increase of 1.5% [4]. Real Estate Investment - Real estate investment has shown a significant decline, with expectations of a slow recovery due to challenges in supply and inventory replenishment [10]. Investment Recommendations - The report suggests that the overall industry is weak, but regional investments may gain traction with the implementation of national strategic layouts. Recommended companies include China Chemical, China Energy Construction, China Railway, and China Railway Construction among others [14].

Investment Rating - The industry investment rating is "Overweight" [2] Core Viewpoints - The economic operation in the first three quarters of 2025 shows steady progress, with fixed asset investment and manufacturing investment growth continuing to decline. The GDP growth rates for Q1, Q2, and Q3 of 2025 are 5.4%, 5.2%, and 4.8% respectively, leading to a cumulative year-on-year fixed asset investment decrease of 0.5% [4][5] - Infrastructure investment is under pressure, with transportation, water conservancy, and public utility investment growth all facing challenges. The total infrastructure investment growth rate (including all categories) is 3.3%, down 2.1 percentage points from the previous month [5] - Real estate investment remains low, with a year-on-year decrease of 13.9% in the first nine months of 2025, indicating a weak recovery in investment [10] Summary by Sections Economic Overview - The GDP growth for the first three quarters of 2025 is 5.2%, with a decline in fixed asset investment and manufacturing investment growth rates [4][5] Infrastructure Investment - Total infrastructure investment growth is 3.3%, with specific sectors like transportation and public utilities showing negative growth [5] Real Estate Investment - Real estate investment has decreased by 13.9% year-on-year, with construction starts and completions showing slight improvements [10] Investment Recommendations - The report suggests that the overall industry is weak, but regional investments may gain flexibility with national strategic layouts. Recommended companies include China Chemical, China Energy Construction, China Railway, and China Railway Construction [14]

证券之星消息，10月20日专业工程板块较上一交易日上涨0.36%，*ST天龙领涨。当日上证指数报收于 3863.89，上涨0.63%。深证成指报收于12813.21，上涨0.98%。专业工程板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300029 | *ST天龙 | 6.15 | 6.40% | 4.93万 | | 3000.84万 | | 002542 | 中化岩土 | 3.68 | 4.84% | 38.71万 | | 1.38亿 | | 000065 | 北方国际 | 11.21 | 3.03% | 22.35万 | | 2.50亿 | | 920019 | 铜冠矿建 | 21.20 | 2.56% | 1.41万 | | 2948.33万 | | 000928 | 中钢国际 | 6.48 | 2.21% | 22.05万 | | 1.42亿 | | 300986 | 志特新材 | 11.49 | 2.13% | 6.37万 | | 7287.86 ...