Core Viewpoint - Dongfang Yuhong (002271.SZ) has recently disclosed that it has received a total of 19 government subsidies since the last announcement on August 26, 2025, with a total impact of approximately 10,374,939.26 RMB on the company's profit for the fiscal year 2025, which represents 9.59% of the audited net profit attributable to shareholders for the fiscal year 2024 [1] Summary by Category - Government Subsidies - The company and its subsidiaries have received 19 government subsidies recently [1] - The company has returned 1 government subsidy [1] - The total impact of these subsidies on the company's profit for 2025 is 10,374,939.26 RMB [1] - Financial Impact - The government subsidies account for 9.59% of the audited net profit attributable to shareholders for the fiscal year 2024 [1]

Group 1 - The core point of the article is that Dongfang Yuhong has received multiple government subsidies, which significantly impact its financial performance for the fiscal year 2025 [1] - Dongfang Yuhong has received a total of 19 government subsidies and returned 1, with a cumulative impact of approximately 10.37 million RMB on the company's profit for 2025, accounting for 9.59% of the audited net profit attributable to shareholders for 2024 [1] - As of the report date, Dongfang Yuhong's market capitalization stands at 29.5 billion RMB [1] Group 2 - For the first half of 2025, Dongfang Yuhong's revenue composition is as follows: 69.71% from waterproof materials sales, 14.71% from mortar powder, 8.39% from other sources, 6.26% from waterproof engineering construction, and 0.94% from other businesses [1]

Investment Rating - The report maintains a "Buy" rating for the non-metallic building materials sector and an "Overweight" rating for the construction and engineering sector [5]. Core Insights - The Ministry of Industry and Information Technology and five other departments issued the "Building Materials Industry Steady Growth Work Plan (2025-2026)", focusing on quality and efficiency while prohibiting new capacity [2][3]. - The new plan emphasizes the need for coordinated efforts on both supply and demand sides, aiming to enhance profitability levels effectively [3]. - The plan sets a specific target for 2026, aiming for green building material revenue to exceed 300 billion yuan [2]. Summary by Sections Policy Background - The new plan is introduced against a backdrop of weak market demand and prominent structural issues in the building materials industry, contrasting with the previous plan which was released during the early recovery phase post-pandemic [2]. Overall Requirements - The current plan focuses on quality and efficiency, integrating technological and industrial innovation, and emphasizes strict control over new capacity while promoting traditional material upgrades and advanced inorganic non-metallic materials [2][3]. Main Goals - Unlike the previous plan, which set specific growth targets for industrial added value, the current plan does not set total industry targets but emphasizes improving profitability and achieving specific revenue goals for green materials [2]. Key Measures - The new plan prioritizes strengthening industry management and promoting the survival of the fittest, with a focus on strict capacity control in cement and glass production [2][3]. - It outlines specific development directions for advanced materials, including advanced glass, artificial crystals, and high-performance fibers, while promoting pilot platform construction and application verification [3]. Investment Recommendations - The report suggests focusing on companies in the new materials sector such as China Jushi, Guoen Co., Puyang Huicheng, Keda Manufacturing, Hongrun Construction, and Jiemai Technology, as well as companies in the infrastructure and real estate chain like China State Construction, Oriental Yuhong, and Anhui Conch Cement [4].

证券代码：002271 证券简称：东方雨虹 公告编号：2025-092 北京东方雨虹防水技术股份有限公司 关于获得政府补助的公告 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、获取补助的基本情况 北京东方雨虹防水技术股份有限公司（以下简称"公司"）今日获悉，自公 司 2025 年 8 月 26 日最近一次披露《关于获得政府补助的公告》（公告编号： 2025-078）至今，公司及下属子公司近期累计获得 19 笔政府补助，退回 1 笔政 府 补 助 ， 以 上 政 府 补 助 累 计 对 公 司 2025 年 度 利 润 总 额 的 影 响 金 额 为 10,374,939.26 元人民币，占公司 2024 年度经审计的归属于上市公司股东净利 润 9.59%。具体明细如下： 1 序号 获得补助的主体 补助获得时间 补助金额（元） 1 华砂矿业（吉安）有限公司 2025/8/27 619.06 2 青岛东方雨虹建筑材料有限公司 2025/8/27 211,120.00 3 杭州德爱威云建材科技有限公司 2025/8/28 50,000.00 4 四川东方雨虹建 ...

Core Viewpoints - The report maintains a positive outlook on the building materials sector, particularly cement, following the release of the "Building Materials Industry Stabilization Growth Work Plan (2025-2026)" by the Ministry of Industry and Information Technology and other departments [4][6]. Summary by Sections Recent Market Performance - The building materials sector has shown a decline of 11% over the past 12 months, while the Shanghai Composite Index has decreased by 5% [2]. Policy and Industry Outlook - The stabilization plan aims to enhance profitability and innovation in the building materials industry, with a target for green building materials revenue to exceed 300 billion by 2026 [6]. - Key measures include restricting supply by prohibiting new cement clinker and flat glass production capacity, promoting the unification of actual and registered production capacities, and fostering green building materials through various initiatives [6]. Supply and Demand Dynamics - The report notes that while there is a temporary pressure on real estate and infrastructure demand, recent policies have led to a gradual improvement in supply-demand dynamics, with expectations for a slow price recovery in the cement market [6]. - Cement production increased by 1.7% month-on-month in August, supported by significant government bond issuances and major project launches, which may lead to a turning point in infrastructure work in Q4 [6]. Investment Recommendations - The cement sector is recommended for investment due to its high dividend yield and the anticipated recovery in demand and prices. The report suggests focusing on companies like Conch Cement and Huaxin Cement, while also considering companies in the photovoltaic supply chain such as Qibin Group [6]. - The consumer building materials sector is expected to stabilize, with companies like Sankeshu, Rabbit Baby, Dongfang Yuhong, and Keshun Co. being highlighted for potential growth [6].

Investment Rating - The industry rating is "Recommended" [5] Core Insights - The report highlights the benefits of the "steady growth plan" released by six departments, focusing on supply optimization in the construction materials industry, with specific recommendations for companies like Huaxin Cement and Conch Cement [1][7] - The report indicates a significant increase in cement prices, with a week-on-week rise of 1.5%, and a positive trend in the glass market, particularly for float glass and photovoltaic glass [2][24][61] - The report notes improvements in housing transactions, with new and second-hand housing sales showing a positive trend in major cities [3][20] Summary by Sections Cement Market - The national cement market price has increased significantly, with a rise of 1.5% week-on-week, driven by demand recovery and price adjustments in various regions [24] - Major regions like Jiangsu, Zhejiang, and Anhui have seen price increases ranging from 10 to 70 yuan/ton, while some areas like Fujian and Guizhou experienced price declines [24][41] - The report anticipates continued price increases as companies aim to meet annual growth targets [24] Glass Market - The average price of float glass has risen to 1224.74 yuan/ton, marking a week-on-week increase of 1.39% [61] - The report notes that the production capacity utilization in the float glass industry is at 82.20%, indicating stable supply conditions [61] Housing Transactions - In the 39th week, new housing transaction area in 30 major cities reached 191.15 million square meters, showing a 27.08% increase week-on-week [3][20] - Second-hand housing transactions in 15 monitored cities also improved, with a 6% increase week-on-week [3][20] Recommended Companies - The report recommends companies with strong pricing power and operational resilience, including Huaxin Cement, Conch Cement, and others in the waterproofing and photovoltaic glass sectors [1][7]

Group 1: Government Initiatives and Industry Standards - The concept of "good housing" has been incorporated into the 2025 Government Work Report, outlining a blueprint for housing construction that emphasizes safety, comfort, sustainability, and intelligence [1] - The Ministry of Housing and Urban-Rural Development has released national standards for residential projects, marking a transition from "housing for all" to "quality housing" [1] Group 2: Company Innovations and Product Offerings - Oriental Yuhong focuses on dual-driven material technology to enhance living quality, addressing common residential issues such as noise through innovative soundproofing solutions [4] - The company has developed a multi-layered noise reduction system, including modified rubber damping soundproof pads and a lightweight tile adhesive with a five-level soundproof structure, achieving noise reduction exceeding 30 decibels [4] - The introduction of GES-300 solvent-free polyurethane waterproof coating allows consumers to choose colors that match their interior design, integrating aesthetics with functionality [5] Group 3: Commitment to Sustainability - Oriental Yuhong emphasizes green and low-carbon product development, launching several eco-friendly product lines that have received national certifications for green building materials and carbon footprint [5] - The company has established a standardized construction service system to ensure quality delivery and transparency in home renovation projects [5][6] Group 4: Addressing Urban Infrastructure Challenges - Urban rail transit faces leakage issues due to complex geological conditions, prompting the implementation of new waterproofing standards in 2023 [7] - Oriental Yuhong has responded by developing new waterproofing materials and systems, including a new HDPE self-adhesive membrane system that enhances construction efficiency and reliability [8][9] Group 5: Sponge City Initiatives - The construction of sponge cities is crucial for efficient water resource management and urban sustainability, with Oriental Yuhong providing customized solutions based on local conditions [10] - The "Yuhong Peach Blossom Source System" has been successfully applied in over 200 projects across various regions, demonstrating adaptability in different environmental contexts [11] Group 6: Future Directions - Oriental Yuhong aims to continue leveraging technological innovation to enhance product quality and service, contributing to the development of safe, resilient, and eco-friendly urban environments [11]

Group 1 - The core point of the announcement is that the controlling shareholder, Li Weiguo, has completed the process of releasing part of his pledged shares in Beijing Oriental Yuhong Waterproof Technology Co., Ltd [2][3] - After the release of the pledged shares, Li Weiguo and his associate, Li Xingguo, hold a total of 497,983,505 shares, accounting for 20.85% of the company's total share capital, with 240,042,198 shares still pledged, which is 10.05% of the total share capital and 48.20% of their holdings [3] - The company confirms that there are currently no actions by Li Weiguo and Li Xingguo that would harm the interests of the listed company, such as non-operating fund occupation or illegal guarantees [4] Group 2 - Li Weiguo expresses confidence in the long-term development of the company, and the current release of pledged shares does not pose a risk of forced liquidation [4] - The company states that the share pledge situation has not materially affected its operations, governance, or performance obligations [4] - The company will continue to monitor the changes in share pledges and associated risks, ensuring timely disclosures to investors [4]

Group 1 - Dongxing Medical plans to acquire 90% equity of Wuhan Yijiaobao for cash, which is expected to constitute a major asset restructuring [1] - Fosun Pharma's subsidiary plans to transfer 100% equity of Shanghai Cloning, with a transaction value of up to 1.256 billion yuan [1] Group 2 - *ST Songfa's subsidiary signed a shipbuilding contract worth approximately 400-600 million USD for four VLCCs, expected delivery between late 2026 and mid-2027 [3] - Qibin Group obtained financing support of up to 90 million yuan for share repurchase [4] Group 3 - Shapuaisi's shareholder plans to reduce holdings by up to 3% of the company's total shares [5] - *ST Kaixin intends to use up to 310 million yuan for cash management in safe and liquid financial products [6] Group 4 - Junchen Technology's shareholders plan to transfer 2.5% of the company's shares due to personal funding needs [7] - Jingliang Holdings received an administrative regulatory measure from Hainan Securities Regulatory Bureau for improper revenue recognition involving 299 million yuan [7] Group 5 - Tongcheng Holdings received a cash dividend of 24.6643 million yuan from Changsha Bank [9] - Shenyang Chemical appointed Chen Liguo as the new general manager [10] Group 6 - Huaguang Huaneng signed a contract for a 160 million yuan waste heat boiler project [15] - Shuxian Valley's subsidiary completed the re-registration of a health food product [16] Group 7 - Xuanta Pharmaceutical's new specification for a diabetes treatment drug was approved [17] - Panlong Pharmaceutical's application for a pain relief gel patch was accepted by the drug regulatory authority [18] Group 8 - Zhiguang Electric's subsidiary won a procurement contract worth 164 million yuan for a storage system [19] - Chitianhua's production facility resumed operations after maintenance [20] Group 9 - Haitong Development's application for a specific A-share issuance was accepted by the Shanghai Stock Exchange, aiming to raise 210 million yuan [20] - Risheng Technology's shareholders plan to transfer 4.02% of the company's shares [33] Group 10 - Pingmei Shares' controlling shareholder plans a strategic restructuring with Henan Energy Group [35] - Shenghui Integration's controlling shareholder committed not to reduce shareholdings for 12 months [37] Group 11 - Agricultural Bank and Bank of China will no longer establish supervisory boards, with their functions transferred to the audit committees [39][40] - Dongfang Yuhong's subsidiary signed a contract for a seawater pipeline project worth 2.524 billion USD [40][41] Group 12 - Ganfeng Lithium plans to introduce investors for a capital increase of up to 2.5 billion yuan [50] - Hanyu Pharmaceutical intends to raise up to 968 million yuan for various projects [51]

一、股东部分股份解除质押基本情况 证券代码：002271 证券简称：东方雨虹 公告编号：2025-091 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 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。 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 | 其一致行动人 | （股） | 股份比例 | 股本比例 | | | | | | | 500,000 | 0.10% | 0.02% | 2023 年 6 月 19 日 | 2025 年 9 月 25 日 | 国泰海通证券 股份有限公司 | | | | 240,000 | 0.05% | 0.01% | | | | ...