证券代码：000928 证券简称：中钢国际 公告编号：2025-35 中钢国际工程技术股份有限公司 关于举办 2025 年半年度业绩说明会的公告 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"）已于 2025 年 8 月 26 日在《证券时报》《上海证券报》及巨潮资讯网（www.cninfo.com.cn）上披露了 《2025 年半年度报告摘要》（公告编号：2025-33），在巨潮资讯网上披露了《2025 半年度报告》（公告编号：2025-34）。为便于广大投资者更加全面深入地了解 公司经营业绩、发展战略等情况，公司定于 2025 年 9 月 5 日（星期五）15:00-16:30 举办 2025 年半年度业绩说明会，与投资者进行沟通和交流，广泛听取投资者的 意见和建议。 一、说明会召开的时间、地点和方式 会议召开时间：2025 年 9 月 5 日（星期五）15:00-16:30 会议召开方式：网络文字互动 网络地址：价值在线（www.ir-online.cn） 二、参加人员 副董事长、总经理赵恕昆，独立董事王天 ...

中钢国际工程技术股份有限公司监事会 关于第十届监事会第七次会议相关事项的意见 根据《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》 等相关法律、法规和规范性文件及公司章程等有关规定，作为中钢国际工程技术股份有 限公司（以下简称"公司"）第十届监事会监事，经认真审阅相关资料，对公司提交第 十届监事会第七次会议审议的相关事项发表意见如下： 一、关于公司《2025 年半年度报告》全文及摘要的意见 中钢国际 监事会意见 1 中钢国际 监事会意见 （此页无正文，为中钢国际工程技术股份有限公司监事会关于第十届监事会第七次 会议相关事项的意见签字页） 监事签字： 经对董事会编制的 2025 年半年度报告审慎审核，监事会认为： 1. 2025 年半年度报告及摘要的编制和审议程序符合法律法规、公司章程和公司内部 控制制度的各项规定； 2. 内容和格式符合中国证监会和证券交易所的各项规定，所包含的信息能从各方面 真实地反映出公司当期的经营管理和财务状况等事项； 3. 在提出本意见前，未发现参与编制和审议的人员有违反保密规定的行为。 二、关于公司《2025 年上半年募集资金存放与使用情况专项报告》的议案 监 ...

证券代码：000928 证券简称：中钢国际 公告编号：2025-31 表决结果：3 票同意，0 票反对，0 票弃权。 公司对募集资金的存放和使用严格遵守相关法律法规及规章制度的规定执 行，履行了必要的程序，不存在违反法律法规及损害公司股东尤其是中小股东利 益的行为。公司编制的《2025 年上半年募集资金存放与使用情况专项报告》如 实反映了公司募集资金存放与使用情况。 本公司及监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"）第十届监事会第七次 会议于 2025 年 8 月 25 日在公司会议室以现场方式召开。会议通知及会议材料于 2025 年 8 月 15 日以邮件方式送达公司各位监事。会议由监事会主席董达召集和 主持，应出席会议的监事 3 人，实际出席会议的监事 3 人，会议的召开符合《中 华人民共和国公司法》及《公司章程》的规定。 本次会议审议通过了以下议案： 一、关于公司《2025 年半年度报告》全文及摘要的议案 公司董事会编制和审议公司 2025 年半年度报告全文及摘要的程序符合法律 法规、公司章程和公司内部控制制 ...

中钢国际工程技术股份有限公司 2025 年半年度报告全文 中钢国际工程技术股份有限公司 2025 年半年度报告 2025-33 2025 年 8 月 26 日 1 中钢国际工程技术股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司所处土木工程建筑类行业，具有应付款项、应收款项余额较高的行 业特征，经营活动健康稳定但经营性现金流呈现周期性特征。公司承接境外 工程总承包业务，项目执行周期长于国内同类项目，受所在国政治、经济、 金融环境影响。提请广大投资者注意风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 | 重要提示、目录和释义 | | 2 | | --- | --- | --- | --- | | 第二节 | 公司简介和主要财务指标 | | 6 | | 第三节 | 管理层讨论与分析 | | 9 | | 第四节 | 公司治理、环境和社会 | | 21 | | 第五节 | 重要事项 | | 23 | | 第六节 | 股份变动及股东情况 | | 38 | | 第七节 | 债券相关情况 | | 43 | | 第八节 | 财务报告 | | 44 | | 第九节 | ...

证券代码：000928 证券简称：中钢国际 公告编号：2025-30 中钢国际工程技术股份有限公司 第十届董事会第九次会议决议公告 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。 中钢国际工程技术股份有限公司（以下简称"公司"）第十届董事会第九次 会议于 2025 年 8 月 25 日在公司会议室以现场结合视频方式召开。会议通知及会 议材料于 2025 年 8 月 15 日以邮件方式送达公司各位董事。会议由公司副董事长 赵恕昆召集和主持，应出席会议的董事 6 名，实际出席会议的董事 6 名（董事刘 安以视频方式出席）。会议的召开符合《中华人民共和国公司法》及《公司章程》 的规定。 本次会议审议通过了以下议案： 一、关于公司《2025 年半年度报告》全文及摘要的议案 具体内容详见公司同日在《证券时报》《上海证券报》及巨潮资讯网披露的 《2025 年半年度报告摘要》（公告编号：2025-32）及在巨潮资讯网披露的《2025 年半年度报告》（公告编号：2025-33）。 公司审计与风险管理委员会已召开会议审议通过该议案。 表决结果：6 票同意，0 票反对，0 票弃权 ...

证券之星消息，8月21日，中钢国际（000928）融资买入2206.05万元，融资偿还1975.06万元，融资净买 入230.99万元，融资余额4.48亿元，近3个交易日已连续净买入累计4334.79万元，近20个交易日中有14 个交易日出现融资净买入。 | 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-08-21 | 230.99万 | 4.48亿 | 4.71% | | 2025-08-20 | 952.03万 | 4.46 Z | 4.65% | | 2025-08-19 | 3151.76万 | 4.37亿 | 4.58% | | 2025-08-18 | 2787.83万 | 4.05亿 | 4.25% | | 2025-08-15 | 1155.90万 | 3.77亿 | 3.88% | | 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 | | --- | --- | --- | --- | | 2025-08-21 | 4.50亿 | 235.66万 | 0.53% | | 2025-08 ...

Core Insights - The central government has clarified its stance on addressing "involution" competition, transitioning from policy formulation to implementation since the second half of 2024 [1][2] - In July 2025, 33 construction-related central enterprises, state-owned enterprises, and private enterprises issued a "Proposal" advocating for the "Four No's" principle: no scale assembly, no blind expansion, no excessive debt, and no shell structures, aiming to resist "involution" competition and shift focus from price competition to value competition [1][2] Construction Industry Analysis - The report emphasizes the shift from price competition to value competition in the construction industry, driven by the "anti-involution" policy [2] - The analysis categorizes the construction industry into three major segments: central state-owned enterprise blue chips, international engineering, and steel structure [2] Central State-Owned Enterprises - For traditional undervalued central state-owned enterprise blue chips, the focus should be on three dimensions: dividend capability, price elasticity, and technological transformation [3] - In Q1 2025, the market share of nine major construction central enterprises increased to 59.89%, indicating strong order acquisition capabilities [3] - Companies with strong dividend capabilities, such as China State Construction and Sichuan Road and Bridge, are recommended [3] International Engineering Sector - The international engineering sector benefits from price elasticity, particularly with rising expectations for resource prices [4] - North China International, which has a significant coal sales volume, is highlighted for its potential profit contributions from coal business in 2026 [4] Steel and Cement Industries - The steel and cement industries are expected to improve profitability through the exit of outdated capacities and product structure upgrades [5] - Companies like China National Materials and China Steel International are recommended, with China Aluminum International suggested for attention [5] Steel Structure Sector - The steel structure sector is divided into manufacturing and installation segments, with rising steel prices benefiting manufacturing companies like Honglu Steel Structure [6] - The transition towards intelligent construction and green building is expected to enhance the competitive advantages of leading companies in the installation segment, such as Jinggong Steel Structure and Jianghe Group [6]

Investment Rating - The industry rating is "Outperform the Market" (maintained rating) [5] Core Viewpoints - The "anti-involution" policy is transitioning from policy definition to implementation, with a focus on shifting from "price competition" to "value competition" in the construction industry [14][15] - The construction sector is expected to benefit from improved cash flow and report quality due to the optimization of supply and demand dynamics, which will enhance the dividend capacity of state-owned enterprises [15][24] - The report emphasizes the importance of technology transformation and the development of non-traditional construction businesses, such as smart cities and smart construction, as key paths for traditional construction companies [2][3] Summary by Sections 1. Traditional Low-Valuation State-Owned Enterprises - The market share of nine major state-owned construction enterprises has increased from 30.45% in 2016 to 48.9% in 2024, with a further rise to 59.89% in Q1 2025, indicating strong order acquisition capabilities [15][21] - The report highlights three dimensions for understanding the implications of "anti-involution": dividend capacity, price elasticity, and technology transformation [2][14] - Companies with strong dividend capabilities, such as China State Construction and Sichuan Road and Bridge, are recommended [2][24] 2. International Engineering Sector - The international engineering sector is expected to benefit from price elasticity due to rising expectations for resource prices, particularly in coal [3][29] - The report suggests that improvements in downstream profitability and high-quality development in industries like steel and cement will drive demand for engineering companies [3][29] 3. Steel Structure Sector - The steel structure sector is divided into manufacturing and installation, with rising steel prices benefiting manufacturing companies like Honglu Steel Construction [4][29] - The transition towards intelligent and green construction is expected to enhance the competitive advantages of leading companies in the steel structure installation segment [4][29] - Companies like Jianghe Group and Jinggong Steel Construction are highlighted for their significant growth in overseas orders [4][29] 4. Key Stock Recommendations - The report recommends several stocks based on their performance and valuation metrics, including China State Construction, China Chemical, and Honglu Steel Construction, all of which have favorable P/E ratios and dividend yields [9][25][27]

Market Performance - The professional engineering sector increased by 0.97% on August 15, with Northern International leading the gains [1] - The Shanghai Composite Index closed at 3696.77, up 0.83%, while the Shenzhen Component Index closed at 11634.67, up 1.6% [1] Stock Performance - Northern International (000065) closed at 12.93, rising by 7.04% with a trading volume of 712,700 shares and a turnover of 900 million yuan [1] - Other notable performers included: - Zhonggong International (002051) at 9.34, up 4.12% [1] - Roman Co., Ltd. (605289) at 41.64, up 3.58% [1] - Shenghui Sun (603163) at 33.30, up 3.42% [1] - Zhonggang International (000928) at 6.78, up 3.20% [1] Capital Flow - The professional engineering sector saw a net inflow of 1.39 million yuan from institutional investors, while retail investors contributed a net inflow of 58.51 million yuan [2] - Notably, Northern International experienced a net inflow of 72.39 million yuan from institutional investors, despite a net outflow of 41.32 million yuan from speculative funds [3]

Core Viewpoint - China Steel International (中钢国际) continues to demonstrate strong performance in securing new contracts and expanding its international presence, particularly in the metallurgical engineering sector, despite challenges in the domestic steel industry. Group 1: New Contracts and Financial Performance - In Q2 2025, the company signed 31 new project contracts with a total value of 2.329 billion yuan, including 1.77 billion yuan from domestic projects and 1.952 billion yuan from international projects [1][2] - As of June 2025, the company has a total of 298 signed but uncompleted orders amounting to 38.926 billion yuan, with 26.866 billion yuan currently in execution [2] - The company reported a total revenue of 17.647 billion yuan for 2024, a decrease of 33.1% year-on-year, while net profit attributable to shareholders was 0.835 billion yuan, an increase of 9.69% [4][5] Group 2: International Expansion and Strategy - China Steel International has established 15 overseas branches and operates in over 50 countries, showcasing its commitment to internationalization [1][4] - In 2024, the company achieved a total contract value of 19.67 billion yuan for new engineering projects, with overseas orders accounting for 82.7%, reflecting a year-on-year growth of 54.17% [1][4] - The company aims to maintain its international strategy focus in 2025, particularly targeting markets in the Middle East and Africa [4] Group 3: Operational Efficiency and Innovations - The company has implemented project lifecycle supervision to ensure stable execution of ongoing projects, with notable progress in projects like the Simfer and Tosyali projects [2] - Technological innovations and refined project management have helped the company solidify its market position amid domestic industry transformation pressures [3] - The company has improved its cash flow management, with a net cash flow from operating activities of 1.504 billion yuan in 2024, an increase of 9.95% [4][6]