Group 1 - The company Zhejiang Jiaokao (002061) reported that as of December 31, 2025, the number of shareholders is 44,983 [1]

Market Overview - The infrastructure sector increased by 0.16% on December 31, with Guosheng Technology leading the gains [1] - The Shanghai Composite Index closed at 3968.84, up 0.09%, while the Shenzhen Component Index closed at 13525.02, down 0.58% [1] Top Performers - Guosheng Technology (603778) closed at 17.60, up 7.84% with a trading volume of 858,400 shares and a transaction value of 1.466 billion [1] - Guanzhong Ecology (300948) closed at 21.69, up 5.55% with a trading volume of 94,800 shares and a transaction value of 203 million [1] - China Nuclear Engineering (601611) closed at 13.48, up 4.01% with a trading volume of 1,951,000 shares and a transaction value of 1.265 billion [1] Underperformers - C Haofan (001396) closed at 43.15, down 13.72% with a trading volume of 117,200 shares and a transaction value of 525 million [2] - Dongzhu Ecology (603359) closed at 9.54, down 4.31% with a trading volume of 907,400 shares and a transaction value of 89.57 million [2] - Jiangjian Co. (603815) closed at 7.44, down 2.36% with a trading volume of 211,700 shares and a transaction value of 158 million [2] Capital Flow - The infrastructure sector experienced a net outflow of 113 million from institutional investors, while retail investors saw a net inflow of 4.06 million [2] - The main capital inflow was observed in Huylu Ecology (001267) with a net inflow of 98.54 million, accounting for 9.78% of the total [3] - China Nuclear Engineering (601611) had a net inflow of 50.82 million, representing 4.02% of the total [3]

Investment Rating - The investment rating for the construction and decoration industry is "Positive" (maintained) [2] Core Views - The report emphasizes that the construction sector is expected to experience a "spring surge" as the "14th Five-Year Plan" approaches its start, with significant government support and infrastructure investment anticipated [3][4][10] - The report highlights that the investment pace in the early stages of the "14th Five-Year Plan" is likely to follow historical patterns, with a concentration of project launches and higher investment growth expected [4][10] - The construction sector is advised to focus on three core investment themes for 2026: major national projects, high-dividend state-owned enterprises, and private construction companies leveraging cash flow for new opportunities [5][19] Summary by Sections Policy Developments - The government is actively releasing positive signals regarding the "14th Five-Year Plan," focusing on high-quality development and major infrastructure projects [3][20] - The National Housing and Urban-Rural Development Conference has emphasized stabilizing the real estate market and accelerating the renovation of old urban areas [3][20] Market Performance - The report notes that the construction and decoration index rose by 2.26% during the week, with significant gains in sectors such as decoration and specialized engineering [6] - A total of 101 stocks in the construction sector saw price increases, with notable performers including Hainan Development (+56.46%) and Shanghai Bay (+44.35%) [6] Future Outlook - The report anticipates that the construction sector will see a resurgence in investment activity, particularly in traditional infrastructure such as railways and highways, as well as new infrastructure projects [4][10][14] - The focus on water conservancy and transportation infrastructure is expected to increase, with several provinces already initiating planning for these projects [13][14] - The report suggests that the construction sector will benefit from a shift towards new infrastructure and low-altitude economy projects, which are gaining traction in local planning [14][19]

Investment Rating - The investment rating for the construction and decoration industry is "Positive" (maintained) [2] Core Insights - The report emphasizes the upcoming "spring excitement" in the construction sector as the "14th Five-Year Plan" approaches its start, with a historical pattern of infrastructure investment showing a tendency for higher growth in the early stages of five-year plans [4][10] - The report highlights that the current infrastructure investment is still at a low level, but anticipates an increase in investment pace as the "15th Five-Year Plan" begins, which is expected to support the construction sector's performance in 2026 [4][10] - Key areas of focus for investment include major national projects such as the canal system, Tibet railway, and new energy infrastructure, which are expected to generate long-term order demand [19] Summary by Sections Policy Developments - The report notes that the government is actively releasing positive signals regarding the "15th Five-Year Plan," with a focus on high-quality development and major infrastructure projects [3][20] - The central government has emphasized the importance of stabilizing the real estate market and accelerating the renovation of old urban areas, with significant progress already reported in various provinces [3][21] Market Performance - The report indicates that the construction and decoration index has shown positive performance, with a 2.26% increase, and highlights the top-performing stocks in the sector [6] Future Outlook - The report identifies three core investment themes for the construction sector in 2026: 1. Major national projects that will continue to drive long-term demand [19] 2. High-dividend, low-valuation state-owned construction enterprises that are expected to gain value [19] 3. Private construction companies leveraging cash flow and flexibility to enter new markets such as clean rooms and AI infrastructure [19]

Investment Rating - The industry investment rating is "Overweight" indicating a positive outlook for the sector [3][24]. Core Insights - The report highlights a significant increase in the construction and decoration sector, with the SW Building Decoration Index rising by 2.26% [3][4]. - Key sub-sectors such as decorative curtain walls, professional engineering, and international engineering have shown strong weekly performance, with increases of 7.14%, 6.11%, and 3.52% respectively [3][6]. - The report emphasizes the importance of effective investment in infrastructure and strategic mergers and acquisitions as outlined by the State-owned Assets Supervision and Administration Commission (SASAC) [3][10]. Industry Performance - The construction industry outperformed the Shanghai Composite Index, with a weekly increase of 2.26% compared to the index's 1.88% [4][5]. - The best-performing sub-industry for the week was decorative curtain walls, which saw a rise of 7.14% [6][9]. - Year-to-date, the ecological landscaping sector has shown the highest growth at 54.66%, followed closely by professional engineering and decorative curtain walls [6][9]. Key Company Developments - Zhejiang Communications Technology Co., Ltd. won a contract for the "Fuchun River Urbanization Project" valued at 3.004 billion yuan, representing 6.29% of its 2024 revenue [14]. - China Aluminum International signed a contract worth 14 billion yuan with an overseas client, accounting for 58.33% of its 2024 revenue [14][15]. - The report notes significant stock performance, with companies like Hainan Development and Shanghai Port Bay seeing weekly increases of 56.46% and 44.35% respectively [3][10].

转自：证券时报 人民财讯12月26日电，浙江交科(002061)12月26日公告，近日，下属公司浙江交工及交工地下作为联合 体成员，中标富春江沿江洋洲区块新型城镇化建设项目。根据协议，项目公司注册资本为1亿元，浙江 交工及交工地下出资2000万元。同时，浙江交工及交工地下预计最高出资5亿元用于项目开发建设投 资。 ...

本项目位于桐庐县洋洲区块，北至富春江，南至科技大道－白云源东路，西至桑园路，东至疏港公路－ 宝心路，以及安置房地块1、安置房地块2和科创园地块，总面积约3,476亩。本项目实际合作范围以批 复或备案的文件为准。本项目合作范围内项目公司投资项目静态估算总投资47.93亿元，包括工程费用 16.70亿元，工程建设其他费用30.31亿元，预备费用0.92亿元。本项目合作期为8年，包括建设期6年。 格隆汇12月26日丨浙江交科(002061.SZ)公布，2025年10月，桐庐县富春未来城开发建设有限公司、桐 庐通达未来开发建设有限公司以及桐庐新城发展投资有限公司1共同作为项目招标人（简称"甲方""招标 人"）发布富春江沿江洋洲区块新型城镇化建设项目招标公告。下属公司浙江交工集团股份有限公司 （简称"浙江交工"）、浙江交工地下工程有限公司（简称"交工地下"）与浙江路产城发展集团有限公司 （牵头方）等相关方组成联合体（简称"乙方""联合体"）参与本项目投标，根据公示的中标结果公告， 确定联合体为本项目的中标人。近日，联合体中标人与项目招标人分别签订富春江沿江洋洲区块新型城 镇化建设项目《投资协议》《股东协议》等相关合作文 ...

Core Viewpoint - Zhejiang Jiaokao (002061.SZ) has won the bid for the new urbanization construction project in the Yangzhou area along the Fuchun River, indicating a significant investment opportunity in the region's development [1][2]. Group 1: Project Overview - The project is located in the Yangzhou area of Tonglu County, covering a total area of approximately 3,476 acres [2]. - The estimated total investment for the project is RMB 4.793 billion, which includes engineering costs of RMB 1.670 billion, other construction costs of RMB 3.031 billion, and contingency costs of RMB 92 million [2]. - The cooperation period for the project is set for 8 years, with a construction period of 6 years [2]. Group 2: Financial Commitment - The project company will have a registered capital of RMB 100 million, with Zhejiang Jiaokao and its subsidiary contributing approximately 20%, amounting to RMB 20 million [1]. - The total expected investment from Zhejiang Jiaokao and its subsidiary for project development is up to RMB 500 million [1].

Group 1 - The company Zhejiang Jiaokao (SZ 002061) announced that its 9th Board of Directors meeting was held on December 26, 2025, via telecommunication to review the proposal for increasing the budget for external donations in 2025 [1] - For the first half of 2025, the revenue composition of Zhejiang Jiaokao is as follows: 89.44% from the infrastructure engineering sector, 9.43% from the highway maintenance sector, and 1.13% from other businesses [1] - As of the report date, the market capitalization of Zhejiang Jiaokao is 10.8 billion yuan [1]

浙江交通科技股份有限公司 信息披露管理制度 第一章 总则 第一条 为规范浙江交通科技股份有限公司（以下简称 "公司"）及其他信息披露义务人的信息披露行为，加强信 息披露事务管理，保护公司股东、债权人、投资者及其利益 相关人的合法权益，根据《中华人民共和国公司法》（以下 简称"《公司法》"）、《中华人民共和国证券法》（以下 简称"《证券法》"）、《上市公司信息披露管理办法》《上 市公司信息披露暂缓与豁免管理规定》《深圳证券交易所股 票上市规则》（以下简称"《股票上市规则》"）《深圳证 券交易所上市公司自律监管指引第 5 号——信息披露事务管 理》等法律、法规、规范性文件和《浙江交通科技股份有限 公司章程》（以下简称"《公司章程》"）的有关规定，制 定本制度。 第二条 本制度所称"信息披露"是指在法定时间内， 公司根据适用的法律、法规、规范性文件、规则等相关规定 应当披露的信息以及对公司证券及其衍生品种交易价格或 对投资者作出价值判断和投资决策产生重大影响的信息（以 下简称"重大信息"），通过中国证监会指定媒体和深圳证 券交易所（以下简称"深交所"）网站，以规定的方式向社 会公众公布。 第三条 公司的信息披露义务 ...