Core Viewpoint - China Electric Environmental Protection (300172) has signed a procurement contract worth 125.7 million RMB (including tax) with Donghua Engineering Technology Co., Ltd. for the first phase of the desalted water station and heat exchange station equipment in the Shaanxi Coal Yulin Chemical 15 million tons/year coal quality clean and efficient conversion demonstration project [1] Group 1 - The contract number for the procurement agreement is 202521-D1-U237-P001 [1] - The project involves the procurement of a complete set of desalted water systems [1] - The total contract amount is 125.7 million RMB, which is approximately 17.5 million USD based on current exchange rates [1]

Group 1 - The titanium dioxide concept sector declined by 0.73%, ranking among the top declines in the concept sector, with companies like Anada, Guocheng Mining, and Tianyuan Co. experiencing significant drops [1] - Among the titanium dioxide stocks, Tianneng Chemical, Vanadium Titanium Co., and Jinpu Titanium Industry saw increases of 1.18%, 0.65%, and 0.63% respectively [1] - The overall market saw a net inflow of 0.25 billion yuan into the titanium dioxide concept sector, despite eight stocks experiencing net outflows [2] Group 2 - The leading stocks with net outflows included Vanadium Titanium Co. with a net outflow of 21.28 million yuan, followed by Longbai Group and Donghua Technology with outflows of 19.79 million yuan and 4.90 million yuan respectively [3] - Stocks with significant net inflows included Zhenhua Co., Jinpu Titanium Industry, and Guocheng Mining, with inflows of 29.98 million yuan, 29.38 million yuan, and 9.36 million yuan respectively [4] - Anada experienced a notable decline of 4.61% with a turnover rate of 20.08% and a net outflow of 1.92 million yuan [3]

Investment Rating - The report maintains an investment rating of "Outperform the Market - A" for the construction industry [4]. Core Views - The report highlights that the logic of overseas engineering expansion is gradually being realized, with high growth areas showing superior growth. Infrastructure and real estate demand continue to face pressure, while railway and water conservancy investments perform well, with the effects of debt reduction expected to gradually manifest [1][8]. - Central state-owned enterprises (SOEs) are experiencing a significant decline in revenue and performance, but there is a long-term trend of improving operational quality. Many SOEs have shown improvements in profitability, cash flow, and expense ratios, indicating a gradual enhancement in operational quality [2][8]. - The overseas new contract signing is rapidly increasing, demonstrating the effectiveness of the overseas expansion strategy. The contract value and revenue from foreign engineering projects have shown significant year-on-year growth, providing support for domestic construction enterprises [3][8]. Summary by Sections 1. Industry Overview - Infrastructure investment growth has been declining, with broad infrastructure investment growth dropping from 11.50% in early 2023 to 1.51% by October 2025. Narrow infrastructure investment growth turned negative, indicating a significant slowdown in traditional infrastructure demand [16][17]. - The investment growth in the railway sector remains positive, while road transport investment has been declining due to funding pressures from local governments and construction enterprises [18][20]. 2. Central SOEs Performance - Central SOEs in the infrastructure sector are facing revenue and performance growth challenges, but operational quality is improving. The implementation of debt reduction measures is expected to show fiscal effects by 2026 [2][8]. 3. Overseas Expansion - The overseas contract signing for Chinese construction enterprises has increased significantly, with major state-owned enterprises showing higher growth rates in new contracts compared to the overall market. This trend is expected to support revenue growth in the coming years [3][8]. 4. Regional Investment Trends - In the western region, particularly Xinjiang, fixed asset investment growth is significantly higher than the national average, with major infrastructure projects expected to drive demand growth [6][8]. - The coal chemical industry in Xinjiang is projected to see substantial investment, with over 400 key projects planned, totaling an investment of 3.47 trillion yuan [6][8]. 5. Cleanroom Engineering Demand - The demand for cleanroom construction is expected to rise due to increased capital expenditure in the AI and semiconductor industries. The cleanroom engineering sector is experiencing rapid growth in orders, particularly from overseas markets [7][8]. 6. Investment Recommendations - The report suggests that low-valuation central SOEs like China State Construction and China Communications Construction Company are well-positioned for stable returns, with improving operational metrics and increasing dividends [9][8]. - Leading companies in overseas expansion, such as China National Materials and China Steel International, are expected to outperform traditional construction enterprises due to their strong growth in overseas orders [9][8].

证券日报网讯东华科技（002140）11月24日在互动平台回答投资者提问时表示，截至11月20日下午收 市，公司股东人数约为3.42万。 ...

融资融券数据显示，该股最新（11月21日）两融余额为2.38亿元，其中，融资余额为2.38亿元，本期筹 码集中以来融资余额合计减少1344.63万元，降幅为5.35%。 公司发布的三季报数据显示，前三季公司共实现营业收入67.95亿元，同比增长5.61%，实现净利润3.65 亿元，同比增长14.97%，基本每股收益为0.5157元，加权平均净资产收益率8.10%。（数据宝） 东华科技11月24日披露，截至11月20日公司股东户数为34200户，较上期（11月10日）减少6900户，环 比降幅为16.79%。 证券时报·数据宝统计，截至发稿，东华科技最新股价为10.95元，上涨1.67%，本期筹码集中以来股价 累计下跌14.92%。具体到各交易日，3次上涨，7次下跌。 （文章来源：证券时报网） ...

证券代码：002140 证券简称：东华科技 公告编号：2025-058 东华工程科技股份有限公司 2025 年第二次临时股东会决议公告 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。 特别提示 1.本次股东会未出现否决提案的情况； 2.本次股东会未涉及变更前次股东会决议； 3.本次股东会所审议的部分议案实行中小投资者单独计票，以保护 中小投资者利益；中小投资者是指除上市公司董事、高级管理人员及单 独或者合计持有上市公司 5%以上股份股东以外的其他股东。 一、会议召开和出席情况 东华工程科技股份有限公司（以下简称"公司""东华科技"）2025 年第二次临时股东会于 2025 年 10 月 31 日发出会议通知，于 2025 年 11 月 18 日发布提示性公告。 （一）召开时间 现场会议召开时间：2025 年 11 月 21 日下午 3:30 网络投票时间：通过深圳证券交易所交易系统进行网络投票时间为 2025 年 11 月 21 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳 证 券 交 易 所 互 联 网 投 票 系 统 投 ...

法律意见书 安徽天禾律师事务所 关于 东华工程科技股份有限公司 2025 年第二次临时股东会 的法律意见书 天律意 2025 第 03171 号 致：东华工程科技股份有限公司 根据《中华人民共和国证券法》（下称"证券法"）、《中华人民共和国公 司法》（下称"公司法"）、《上市公司股东会规则》和《东华工程科技股份有 限公司章程》（下称"《公司章程》"）的有关规定，安徽天禾律师事务所接受 东华工程科技股份有限公司（以下简称"公司"）的委托，指派胡承伟、朱华耀 律师（以下简称"天禾律师"）出席公司 2025 年第二次临时股东会（以下简称 "本次股东会"）并对本次股东会相关事项进行见证，出具法律意见书。 本法律意见书是天禾律师根据对有关本次股东会事实的了解及对我国现行 法律、法规和规范性文件的理解而做出的。 天禾律师同意将本法律意见书作为本次股东会的公告文件，随公司其他文件 一并提交深圳证券交易所审核公告。天禾律师根据《证券法》第 163 条的要求， 按照律师行业公认的业务标准、道德规范和勤勉尽责精神，参与了本次股东会并 对公司提供的有关文件和事实进行了核查和验证，现出具法律意见书如下： 一、关于本次股东会的召集、召 ...

Core Viewpoint - Donghua Technology's stock has shown a mixed performance in recent trading, with a year-to-date increase of 18.71% but a decline of 10.95% over the last five trading days [1] Financial Performance - For the period from January to September 2025, Donghua Technology achieved a revenue of 6.795 billion yuan, representing a year-on-year growth of 5.61%, while the net profit attributable to shareholders was 365 million yuan, up 14.97% year-on-year [2] - Cumulative cash dividends since the A-share listing amount to 840 million yuan, with 255 million yuan distributed over the last three years [3] Shareholder Information - As of November 10, 2025, the number of shareholders for Donghua Technology reached 41,100, an increase of 27.64% from the previous period, while the average circulating shares per person decreased by 21.65% to 13,222 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the third-largest shareholder with 3.0456 million shares, an increase of 72,800 shares from the previous period [3] Stock Performance - As of November 20, Donghua Technology's stock price was 11.55 yuan per share, with a market capitalization of 8.178 billion yuan [1] - The stock has experienced a trading volume of 35.5082 million yuan and a turnover rate of 0.57% on the same day [1] - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent appearance on September 29 [1] Business Overview - Donghua Technology, established on July 18, 2001, and listed on July 12, 2007, is based in Hefei, Anhui Province, and operates in sectors including chemical engineering, environmental governance, and infrastructure [1] - The company's main business revenue composition includes 88.80% from general contracting, 8.28% from other sources, and 2.92% from design and technical services [1] - The company is categorized under the construction decoration - professional engineering - chemical engineering sector and is involved in concepts such as solar thermal power, solid waste treatment, medical waste treatment, energy conservation and environmental protection, and hydrogen energy [1]

Core Insights - Donghua Technology (002140) reported that as of November 10, the number of shareholders was approximately 41,100 [1] Company Information - The company actively engages with investors through interactive platforms, indicating a commitment to transparency and communication [1]

证券代码：002140 证券简称：东华科技 公告编号：2025-057 东华工程科技股份有限公司 关于召开 2025 年第二次临时股东会的提示性公告 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。 根据东华工程科技股份有限公司（以下简称"公司""本公司""东 华科技"）第八届董事会第十一次会议决议，本公司将于 2025 年 11 月 21 日以现场结合网络投票方式召开公司 2025 年第二次临时股东会，并 已于 2025 年 10 月 31 日在《证券时报》、巨潮资讯网上发布《关于召 开 2025 年第二次临时股东会通知的公告》（东华科技 2025-055 号）。 1.股东会届次：2025年第二次临时股东会 按照中国证监会关于加强社会公众股股东权益保护的相关规定，公 司现将 2025 年第二次临时股东会有关事项再次公告如下： 2.召集人：本公司董事会 一、召开会议的基本情况 1 6.股权登记日：2025 年 11 月 14 日（星期五） 7.出席对象： （1）在股权登记日持有本公司股份的全体股东或其代理人； 截至 2025 年 11 月 14 日（星期五）下午 ...