证券日报网讯 12月15日，金螳螂在互动平台回答投资者提问时表示，公司始终严格遵守法律法规及行 业监管要求，秉持"合法合规、诚信经营"的原则，建立了完善的内部控制体系与合规管理机制，相关工 程严格按照招投标程序或合规商业谈判流程开展。同时，持续强化全员合规教育，明确廉洁从业准则， 坚决杜绝任何违法违规行为。 （编辑 王雪儿） ...

Core Insights - The report emphasizes the acceleration of bidding for nuclear fusion projects and the operational launch of the Liebherr Nantong base, focusing on nuclear power and marine engineering modules [6][15][28] - The report highlights the structural recovery of infrastructure investment, particularly in Sichuan and Xinjiang, and recommends investments in low-valuation central state-owned enterprises [6][34] - The report tracks the development of cleanroom technology and the increasing capital expenditure of Taiwanese electronics companies in the U.S., indicating a trend of the Taiwanese supply chain moving to the U.S. [6][34] Group 1: Nuclear Fusion and Power Projects - The signing of a joint statement between China and France on December 4, 2025, promotes the development of nuclear power, recognizing nuclear fusion energy as a significant direction for future energy development [6][15] - The Liebherr Nantong base is expected to achieve an annual output value of CNY 560 million for nuclear modules and CNY 640 million for oil and gas energy modules, addressing the decline in traditional chemical business demand [6][28] - The report notes that the modular construction method in nuclear power can significantly shorten construction periods, with the Liebherr Nantong base now operational [6][28] Group 2: Cleanroom and Coal Chemical Industry - The report tracks the cleanroom sector, noting that TSMC plans to invest USD 165 billion in capital expenditures in the U.S., with Foxconn and Wistron also planning significant investments [6][34] - In the coal chemical sector, projects are progressing steadily, with Xinjiang remaining a primary investment area, including a 1.5 million tons/year coal-to-ethylene project [6][34] - The average price of medium and heavy plates in 13 regions decreased by 0.9%, while rebar prices fell by 1.0%, indicating a slight decline in steel prices [6][34] Group 3: Financial Tracking and Investment Recommendations - The report indicates that special bonds issued for refinancing have reached CNY 2.01 trillion, with a cumulative issuance of CNY 4.5 trillion in special bonds for the year, reflecting a 13.8% year-on-year increase [6][34] - The report recommends focusing on four main investment lines: infrastructure recovery, safety resources, technology in high-end manufacturing, and overseas business opportunities [6][34] - The funding availability rate for construction sites is reported at 59.74%, showing a slight increase from the previous week [6][34]

Group 1 - The core theme of the event is the integration of digital technology in the cultural sector, aiming to establish a high-level dialogue and cooperation platform between Chengdu and the Yangtze River Delta region [1] - The event attracted over a hundred participants from key cultural enterprises and investment institutions, leading to the establishment of the "Chengdu-Yangtze River Delta Cultural Industry Innovation Development Alliance" [1][4] - Chengdu's digital cultural industry achieved a revenue of 325.61 billion yuan, with a year-on-year growth of 9.5%, and a value-added of 113.58 billion yuan, growing by 10.5% [9] Group 2 - The Chengdu delegation visited key cultural enterprises in Suzhou, gaining insights into the integration of culture and technology, and traditional craftsmanship with modern industry [4] - The event featured the launch of over a hundred investment opportunities and supply-demand lists in various fields, including film and animation, digital music, and cultural tourism [4] - Chengdu's cultural enterprises, including state-owned groups, presented their strategic layouts and cooperation needs in content production and cultural tourism integration [5] Group 3 - Chengdu's key cultural parks, such as the Dongjiao Memory Art District and Chengdu Film City, showcased their successful transformation and development strategies [6] - The establishment of the Chengdu Sci-Fi and Future Industry Development Fund, with a target scale of 3.3 billion yuan, aims to support the high-quality development of the digital cultural industry [8] - The event served as a platform for Chengdu to learn from the advanced experiences of the Yangtze River Delta region in digital technology and capital aggregation [9] Group 4 - Multiple projects were signed during the event, including the Red Warehouse 101 Tianfu Design Industry Park Phase II project, which aims to attract technology and digital media industries [16] - The Chengdu-Yangtze River Delta Cultural Industry Innovation Development Alliance will facilitate cross-regional cooperation and resource sharing among cultural enterprises [18] - The event is part of Chengdu's strategy to engage with the Yangtze River Delta, enhancing its cultural industry through collaboration and knowledge exchange [21]

（即"GOLDMANTIS(HK)CONSTRUCTIONDECORATIONLIMITED"）通过相关团体向灾区捐赠100万 元港币，用于应急救助、受灾群众过渡安置及灾后重建工作。我们向火灾中不幸逝去的生命致以深切哀 悼，向受灾市民及遇难者家属表示诚挚慰问，也向持续奋战在一线的消防、医护及所有救援人员致以崇 高敬意。公司自成立以来，始终秉持"主动担当、回报社会"的理念，将履行社会责任深度融入企业发展 战略。公司将持续关注灾情救援与恢复重建工作，公司坚信，受灾同胞定能战胜困难，早日走出灾情阴 霾，重回正常生活。未来，公司将继续深化公益合作，致力于为更多困境群体提供切实帮助，以实际行 动诠释企业担当。 格隆汇12月3日丨金螳螂(002081.SZ)公布，公司高度关注香港大埔区宏福苑火灾灾情，决定由公司全资 子公司金螳螂（香港）建筑装饰有限公司 ...

证券代码：002081 证券简称：金螳螂 公告编号：2025-047 苏州金螳螂建筑装饰股份有限公司 关于对外捐赠用于香港大埔区宏福苑火灾灾后建设的公告 苏州金螳螂建筑装饰股份有限公司（以下简称"公司"）高度关注香港大埔 区宏福苑火灾灾情，决定由公司全资子公司金螳螂（香港）建筑装饰有限公司（即 "GOLD MANTIS(HK) CONSTRUCTION DECORATION LIMITED"）通过相关团体向灾区 捐赠 100 万元港币，用于应急救助、受灾群众过渡安置及灾后重建工作。 我们向火灾中不幸逝去的生命致以深切哀悼，向受灾市民及遇难者家属表示 诚挚慰问，也向持续奋战在一线的消防、医护及所有救援人员致以崇高敬意。公 司自成立以来，始终秉持"主动担当、回报社会"的理念，将履行社会责任深度 融入企业发展战略。公司将持续关注灾情救援与恢复重建工作，公司坚信，受灾 同胞定能战胜困难，早日走出灾情阴霾，重回正常生活。未来，公司将继续深化 公益合作，致力于为更多困境群体提供切实帮助，以实际行动诠释企业担当。 根据《深圳证券交易所股票上市规则》《公司章程》等相关规定，本次捐赠 事项无需提交董事会和股东会审议。本次捐赠事 ...

Core Viewpoint - The report highlights the current state and future trends of the elevator industry in China, indicating a mixed performance in production figures for 2025, with a projected increase in production but a decline in cumulative production for the first nine months of the year [1] Industry Summary - In September 2025, the production of elevators, escalators, and lifts in China is expected to reach 135,000 units, representing a year-on-year growth of 6.3% [1] - From January to September 2025, the cumulative production of elevators, escalators, and lifts in China was 1,021,000 units, showing a cumulative decline of 3.9% [1] - The data indicates a potential recovery in production rates towards the end of 2025, despite the earlier decline in the year [1] Company Summary - Listed companies in the elevator sector include 康力电梯 (Kangli Elevator), 森赫股份 (Senhe Co.), 广日股份 (Guangri Co.), 上海机电 (Shanghai Mechanical), 金螳螂 (Jin Tanglang), 快意电梯 (Kuaiji Elevator), 梅轮电梯 (Meilun Elevator), and 远大智能 (Yuan Da Intelligent) [1] - These companies are positioned to benefit from the anticipated growth in the elevator market as indicated by the projected production increase [1]

Group 1 - The core viewpoint of the article highlights that the company Jin Tanglang reported a 14.1% year-on-year increase in operating cash flow for the first three quarters of 2025, indicating a healthy overall collection and financial status [2] Group 2 - The company engaged with investors on an interactive platform, providing insights into its financial performance and operational health [2]

Market Performance - The decoration and renovation sector increased by 1.27% compared to the previous trading day, with Meizhi Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3870.02, up 0.87%, while the Shenzhen Component Index closed at 12777.31, up 1.53% [1] Key Stocks in the Sector - Meizhi Co., Ltd. (002856) closed at 12.88, with a rise of 9.99% and a trading volume of 97,200 shares, totaling a transaction value of 123 million yuan [1] - Zhengzhong Design (002811) closed at 16.01, up 7.31%, with a trading volume of 592,300 shares and a transaction value of 2.616 million yuan [1] - Other notable stocks include *ST Jianyi (002789) with a 5.00% increase, *ST Zhongzhuang (002822) with a 4.98% increase, and Zhongtian Jingzhuang (002989) with a 4.19% increase [1] Capital Flow Analysis - The decoration and renovation sector experienced a net outflow of 8.5444 million yuan from institutional investors, while retail investors saw a net outflow of 3.6943 million yuan [2] - Conversely, speculative funds recorded a net inflow of 12.2387 million yuan [2] Individual Stock Capital Flow - Zhengzhong Design (002811) had a net inflow of 11.2 million yuan from institutional investors, but a net outflow of 58.6391 million yuan from speculative funds [3] - Meizhi Co., Ltd. (002856) saw a net inflow of 21.6486 million yuan from institutional investors, with a net outflow of 9.0472 million yuan from speculative funds [3] - Hainan Development (002163) had a net inflow of 59.3333 million yuan from institutional investors, while also experiencing a net outflow from retail investors [3]

Summary of Key Points from Conference Call Records Industry Overview: Real Estate Market - The real estate market continues to face pressure, with cumulative sales and amounts from January to October down 7% and 10% year-on-year respectively [1][2] - New construction and land acquisition areas have dropped approximately 70% from peak levels, with housing prices down over 35% [1][2] - The market is in a rapid bottom-seeking phase, particularly in core cities where price adjustments have significant impacts on residents' asset values [1][3] Core Insights and Arguments - Core city housing prices are unlikely to continue their rapid decline; the current situation is seen as an emotional clearance phase [3] - Policy measures are expected to increase in response to weakening housing prices, including potential new personal housing loan interest subsidies and adjustments to transaction taxes [1][3] - The building materials industry should focus on supportive policies, with leading companies likely to recover before the industry as a whole [1][5] Company-Specific Insights Sanhe Tree (三棵树) - Achieved relatively good performance in 2025, but its growth structure has not reached optimal status, relying on two beta strategies and one alpha strategy [6] - The "immediate residence" business and the art paint market are key growth drivers, but the rural revitalization project has not fully realized its potential [6] Rabbit Baby (兔宝宝) - Performed well in 2025, driven by strategic changes and industry trends, particularly through particle board business expansion [7] - Future performance may depend on the stability of the real estate market [7] Challenges in the Building Materials Sector - The consumer building materials industry faces challenges from fluctuations in the real estate market, which is a significant demand driver [8] - A potential second downturn in the real estate market could have a disruptive impact on company performance [8] Investment Recommendations - Focus on leading companies in the consumer building materials sector, such as Sanhe Tree, Rabbit Baby, and others, which have advantages in market concentration [10] - In the construction industry, state-owned enterprises and companies related to the real estate chain, such as China State Construction, are expected to benefit from real estate stimulus policies [11] Future Outlook - The building materials sector is anticipated to see a positive shift as supportive policies are implemented, potentially leading to a market recovery [5] - The overall market environment remains challenging, but leading companies are expected to outperform the industry average [1][4] Additional Considerations - The investment strategy for the home appliance industry should adjust to include companies related to the real estate chain, as demand for kitchen appliances is significantly driven by new housing completions [15][16] - Opportunities exist in sectors like smart projectors and robotic vacuums, where market consolidation may benefit leading companies [17]

Group 1 - The new policy financial tools have been fully deployed, supporting private investment and REITs issuance [2] - As of October 29, 500 billion yuan of new policy financial tools have been allocated, with a portion supporting key private investment projects [2] - A total of 18 private investment projects have been recommended to the CSRC, with 14 projects already issued, raising nearly 30 billion yuan [2] Group 2 - The central bank aims to maintain reasonable price levels and ensure steady growth, employment, and expectations [3] - In October, new social financing amounted to 815 billion yuan, a year-on-year decrease of 597 billion yuan [3] - The central bank emphasizes the importance of promoting reasonable price recovery as a key consideration in monetary policy [3] Group 3 - The National Energy Administration has issued guidelines to promote the integrated development of renewable energy [4] - The guidelines aim to enhance the complementary development of various renewable energy sources and optimize energy structures [4] - There is a focus on improving the collaborative development of wind, solar, hydrogen, and storage technologies [4] Group 4 - Recommendations include sectors such as copper and cobalt resources, energy storage, dividends, and infrastructure in the western region [5] - Specific stock recommendations include China Railway (601390) for copper, China Metallurgical (601618) for nickel, and China Construction (601668) for low valuation and high dividends [5] - The report also highlights opportunities in AI and low-altitude economy sectors, recommending companies like Design Institute (603357) and Huazhong International (002949) [5]