证券代码：002271 证券简称：东方雨虹 公告编号：2025-085 北京东方雨虹防水技术股份有限公司 如上表所示，李卫国先生及其一致行动人李兴国先生合计持有本公司股份 505,897,005 股，占公司总股本的 21.18%，完成本次部分股份解除质押后，累计 质押所持公司股份为 252,852,198 股，占公司总股本的 10.59%，占其所持公司 股份的 49.98%。 关于公司控股股东部分股份解除质押的公告 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。 一、股东部分股份解除质押基本情况 北京东方雨虹防水技术股份有限公司（以下简称"公司"）近日接到公司控 股股东、实际控制人李卫国先生函告，获悉李卫国先生所持有本公司的部分股份 办理了解除质押手续，具体事项如下： | 股东 | 是否为控股股东 或第一大股东及 | 本次解除质 押股份数量 | 占其所持 | 占公司总 | 起始日 | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | | | 股份比例 | 股本比例 | | ...

Group 1 - The company, Beijing Oriental Yuhong Waterproof Technology Co., Ltd., announced on September 18 that its controlling shareholder, Li Weiguo, has completed the release of a portion of his pledged shares, totaling 27.7 million shares [1] - As of the announcement date, Li Weiguo and his concerted actor, Li Xingguo, have a total of approximately 253 million pledged shares, which accounts for 49.98% of their total holdings [1]

Core Points - On September 18, Dongfang Yuhong executed a block trade of 4.17 million shares, with a total transaction value of 49.9149 million yuan, accounting for 6.81% of the total trading volume for the day [1] - The transaction price was 11.97 yuan, representing a 5% discount compared to the market closing price of 12.6 yuan [1] Summary by Category Trading Details - The block trade involved a total of 4.17 million shares at a price of 11.97 yuan per share [1] - The total transaction value was 49.9149 million yuan [1] - The trade accounted for 6.81% of the total trading volume on that day [1] Buyer and Seller Information - The buyer was Southwest Securities Co., Ltd., with specific branches involved in the transaction [2] - The seller included Guotai Junan Securities Co., Ltd., with branches also specified [2]

Group 1 - The renovation and building materials sector increased by 0.34% compared to the previous trading day, with Yibang Diao Ding leading the gains [1] - On the same day, the Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] - Key stocks in the renovation and building materials sector showed significant price increases, with Yibang Diao Ding rising by 6.23% to a closing price of 23.36 [1] Group 2 - The main capital flow in the renovation and building materials sector showed a net outflow of 38.55 million yuan from institutional investors, while retail investors contributed a net inflow of 31.46 million yuan [3] - The overall capital flow indicates a mixed sentiment, with retail investors showing interest despite the net outflow from institutional investors [3]

Core Insights - On September 16, Dongfang Yuhong executed a block trade of 800,000 shares, amounting to 9.44 million yuan, which represented 1.27% of the total trading volume for that day [1] - The transaction price was 11.80 yuan, reflecting a discount of 4.99% compared to the market closing price of 12.42 yuan [1] Summary by Category Trading Activity - The block trade involved a total of 800,000 shares of Dongfang Yuhong, with a total transaction value of 9.44 million yuan [1] - The trade was executed at a price of 11.80 yuan per share, which is lower than the market closing price [1] Institutional Participation - The block trade included two separate transactions: one for 500,000 shares valued at 5.90 million yuan and another for 300,000 shares valued at 3.54 million yuan, both conducted by institutional investors [2]

Core Viewpoint - Oriental Yuhong's stock has shown a significant increase in recent months, with a year-to-date rise of 10.96% and a notable 26.99% increase over the past 60 days, indicating strong market performance and investor interest [1]. Financial Performance - For the first half of 2025, Oriental Yuhong reported a revenue of 13.569 billion yuan, a year-on-year decrease of 10.84%, and a net profit attributable to shareholders of 564 million yuan, down 40.16% compared to the previous year [2]. - Cumulatively, since its A-share listing, Oriental Yuhong has distributed a total of 10.714 billion yuan in dividends, with 7.603 billion yuan distributed over the past three years [3]. Shareholder Structure - As of August 20, 2025, the number of shareholders for Oriental Yuhong was 181,400, a decrease of 1.20% from the previous period, while the average number of tradable shares per shareholder increased by 1.21% to 10,558 shares [2]. - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 372 million shares, which is an increase of 29.126 million shares from the previous period [3].

Summary of Conference Call Records Industry Overview - The real estate market is expected to benefit from policy stimulus and the traditional sales peak in the short term, but faces challenges in Q4 due to high base effects. Attention is needed on whether sales data can remain stable, while investment data shows a trend of stabilization despite a decrease, and new home prices still face downward pressure [1][3][4]. Key Points and Arguments Real Estate Sector - The investment success rate in the real estate sector is improving, with a better competitive landscape among leading companies. Gross margins are expected to improve significantly by Q2 next year. Recommended companies include Shenzhen Investment, China Resources, and China Overseas, as well as diversified targets like Zhangjiang Hi-Tech and Quzhou Development [1][7]. - As of August 2025, real estate sales data showed a year-on-year decline of approximately 7%, an improvement from a 14% decline the previous year. This decline is attributed to a significant reduction in land purchases and falling prices of existing assets [3]. - The second-hand housing market is currently more reflective of consumption rather than investment attributes, with price fluctuations primarily influenced by depreciation logic until new housing stabilizes [6]. Construction Industry - The construction industry has been under pressure recently, with cautious performance noted over the past two months. However, there is optimism for Q4 due to expected policy support for stable growth [8][9]. - Investment opportunities in the construction sector are suggested to be focused on high-dividend assets, metal asset revaluation, and companies benefiting from debt resolution policies, such as China Railway Construction [11][12]. Building Materials Sector - August data for the building materials sector was weak, with cement sales down approximately 8% year-on-year. However, expectations for fiscal stimulus are increasing, and companies focused on domestic demand have shown improved fundamentals [10][12]. - The waterproofing sector is highlighted as a key area for investment, with companies like Dongfang Yuhong recommended due to their strong fundamentals and potential benefits from policy planning [1][12]. Additional Important Insights - The global context of interest rate cuts is creating more certainty in external markets, particularly in overseas cement, fiberglass, and photovoltaic glass sectors. Companies like Huaxin Cement, China Jushi, and Xinyi Solar are noted as potential investment opportunities [13]. - The 2025 anti-involution policy is expected to have a profound impact on the supply side, with a focus on sectors like cement and photovoltaic glass, and companies with independent growth logic such as Henkel Group and Puyang Huicheng [14][15]. - Strategies for addressing poor performance in August include focusing on domestic demand, overseas demand, and anti-dumping measures, with specific recommendations for companies like China Jushi, Huaxin Cement, and Xinyi Solar [16].

Investment Rating - Industry rating is maintained at "Outperform the Market" [6] Core Insights - Infrastructure investment in August shows a narrowing year-on-year decline, with a focus on investment opportunities in the central and western regions [1] - Real estate sales area decreased by 4.7% year-on-year from January to August, with a significant drop of 11% in August alone [2] - Cement prices have started to rise after a prolonged period of decline, indicating potential recovery in profitability for cement companies [3] - The flat glass production showed a year-on-year decline of 4.5% from January to August, but the decline is narrowing, suggesting a potential improvement in demand [4] Summary by Sections Infrastructure Investment - From January to August, real estate development investment decreased by 12.9%, while narrow and broad infrastructure investments increased by 2% and 5.4% respectively [1] - Cumulative new special bonds reached 32,641.37 billion yuan, up 26.9% year-on-year, indicating strong support for infrastructure projects [1] Real Estate Market - New construction area decreased by 19.5% year-on-year from January to August, with a monthly decline of 19.8% in August [2] - Completion area saw a year-on-year decline of 17% from January to August, with a monthly drop of 21.2% in August [2] Cement Industry - Cement production from January to August was 1.105 billion tons, down 4.8% year-on-year, with August production at 148 million tons, a 6.2% decline [3] - The average cement price in August was 349 yuan per ton, showing a slight increase from earlier in the month [3] Glass Industry - Flat glass production from January to August was 64.818 million weight cases, down 4.5% year-on-year, with August production at 8.267 million weight cases, a 2% decline [4] - The market is showing signs of demand improvement as inventory levels decrease and production lines resume operations [4]

北京东方雨虹防水技术股份有限公司公告，控股股东、实际控制人李卫国部分股份办理解除质押。本次 解除质押股份合计27,400,001股，占其所持股份比例5.45%，占公司总股本比例1.15%。截至目前，李卫 国及其一致行动人李兴国合计持股占公司总股本21.49%，累计质押股份占公司总股本11.74%。本次股 份解除质押与公司生产经营需求无关，未来质押到期可多种方式偿还，目前不存在平仓等侵害上市公司 利益情形，公司将持续关注质押变动。 ...

证券代码：002271 证券简称：东方雨虹 公告编号：2025-084 北京东方雨虹防水技术股份有限公司 关于公司控股股东部分股份解除质押的公告 北京东方雨虹防水技术股份有限公司（以下简称"公司"）近日接到公司控 股股东、实际控制人李卫国先生函告，获悉李卫国先生所持有本公司的部分股份 办理了解除质押手续，具体事项如下： | 股东 | 是否为控股股东 | 本次解除质 | 占其所持 | 占公司总 | | | | | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 或第一大股东及 其一致行动人 | 押股份数量 （股） | 股份比例 | 股本比例 | | 起始日 | | 解除日期 | | | 李卫国 | 是 | 9,000,000 1 | 1.79% 0.00% | 0.38% 0.00% | 2023 年 2023 年 | 6 月 6 月 | 19 日 19 日 | 2025 年 9 月 11 2025 年 9 月 12 | 海通证券 日 股份有限 公司 国泰海通 日 证券股份 | | | | | | | | | ...