Core Viewpoint - The report outlines the violations related to the application for a key research project by Oriental Yuhong and its associated parties, highlighting issues of material forgery and improper conduct in the project application process [1][2][3]. Group 1: Violations by Oriental Yuhong - Oriental Yuhong, represented by Wang Jian, engaged in signing a consulting contract with Hainan Xingying Technology Co., which involved the writing and submission of project application materials [2]. - The company was found to have fabricated relevant materials and exhibited management negligence [2]. - As a result, the project was revoked, and Oriental Yuhong is prohibited from participating in government-funded scientific activities for three years, with a record of serious dishonesty in scientific integrity [2]. Group 2: Violations by Hainan Xingying Technology Co. - Hainan Xingying Technology Co., under the control of Yang Jianxin, was involved in the same consulting contract and fulfilled its obligations related to the project application [3]. - The company received a public reprimand and is banned from participating in government-funded scientific activities for two years, with a record of serious dishonesty in scientific integrity [3]. Group 3: Violations by Jiang Dianzheng - Jiang Dianzheng, a former employee of Oriental Yuhong, signed the consulting contract and was involved in its execution [4]. - He cooperated with the investigation and received a public reprimand without further penalties [5]. Group 4: Institutional Responsibility and Future Actions - The violations indicate a lack of responsibility from the involved institutions regarding the management and education of scientific integrity [5]. - The Hainan Provincial Department of Science and Technology emphasizes the need for stronger supervision and accountability in scientific research activities [5].

证券代码：002271 证券简称：东方雨虹 公告编号：2025-059 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"）获悉，自公司最 近一次披露《关于获得政府补助的公告》（公告编号：2025-057）至今，公司及 下属子公司累计获得政府补助合计 22,519,088.00 元人民币，均为与收益相关的 政府补助，占公司 2024 年度经审计的归属于上市公司股东净利润的 20.82%，补 助形式均为现金，截至目前，上述补助已经实际收到相关款项，具体明细如下： | 序号 | 获得补助的主体 | 补助获得时间 | 补助金额（元） | | --- | --- | --- | --- | | 1 | 青岛东方雨虹建筑材料有限公司 | 2025/6/10 | 400,000.00 | | 2 | 杭州东方雨虹建筑材料有限公司 | 2025/6/10 | 50,000.00 | | 3 | 德爱威建设工程有限公司 | 2025/6/12 | ...

Investment Rating - The investment rating for the building materials industry is "Positive" (maintained) [1] Core Viewpoints - The report highlights that the real estate market policies are continuously tightening, creating investment opportunities in building materials. Recent policies from the central bank and local governments aim to support home purchases and improve safety in construction sites, indicating a shift towards a balanced supply-demand dynamic in the real estate market [3][4] - Recommended stocks in the consumer building materials sector include Sankeshu (channel penetration and retail expansion), Dongfang Yuhong (waterproof leader with optimized operational structure), Weixing New Materials (high-quality operations with a significant retail business), and Jianlang Wujin. Beneficiary stocks include Beixin Building Materials (gypsum board leader with diversified expansion in coatings and waterproof sectors) [3] - The report also notes that the National Development and Reform Commission has issued a plan for energy conservation and carbon reduction in the cement industry, aiming to control cement clinker capacity to around 1.8 billion tons by the end of 2025, which is expected to accelerate the iteration of energy-saving and efficient equipment [3][4] Market Performance - The building materials index increased by 2.41% in the week from June 23 to June 27, 2025, outperforming the CSI 300 index, which rose by 1.95%, resulting in a 0.46 percentage point advantage [4][13] - Over the past three months, the CSI 300 index has risen by 0.88%, while the building materials index has decreased by 3.79%, indicating a 4.67 percentage point underperformance [4][13] - In the past year, the CSI 300 index has increased by 13.29%, while the building materials index has only risen by 7.19%, showing a 6.11 percentage point underperformance [4][13] Cement Sector - As of June 27, 2025, the average price of P.O42.5 bulk cement nationwide was 284.72 yuan/ton, a decrease of 4.47% month-on-month. The price trends varied by region, with Northeast China seeing a significant drop of 21.95% [6][24] - The clinker inventory ratio reached 69.36%, an increase of 1.27 percentage points from the previous month [6][25] Glass Sector - The report indicates that the spot price of float glass as of June 27, 2025, was 1200.53 yuan/ton, reflecting a slight increase of 0.13%. The inventory of float glass decreased by 2.51%, with a total of 59 million weight boxes [6][75] - The average price of photovoltaic glass was 120.70 yuan/weight box, down by 3.44% [6][78] Fiberglass Sector - The report notes that the price of fiberglass remains stable, with various types of fiberglass priced between 3400 to 6600 yuan/ton depending on the type and region [6][3] Consumer Building Materials - The report tracks the prices of key raw materials for consumer building materials, noting slight fluctuations. For instance, the price of asphalt remained stable at 4520 yuan/ton, while the price of acrylic acid increased by 1.87% to 6825 yuan/ton [6][3]

Core Viewpoint - Recent price increases by waterproof building material companies signal a collective response to rising costs and intense competition in the industry, marking a "counter-involution" movement [2][5]. Price Adjustments - Companies such as Beijing Oriental Yuhong Waterproof Technology Co., Ltd. and Keshun Waterproof Technology Co., Ltd. announced price hikes for various waterproof products, effective July 1, 2025, with increases ranging from 1% to 13% [3][4]. - Specific products affected include waterproof coatings, tile adhesives, and membrane materials, with the highest increase for waterproof coatings reaching 13% [3][4]. Industry Context - The waterproof industry has faced continuous pressure from fluctuating raw material prices and rising transportation costs, leading to compressed profit margins [5]. - For instance, Oriental Yuhong reported a gross margin of 25.80% in 2024, down 1.89 percentage points year-on-year, and a net margin of only 0.27%, a decline of 6.70 percentage points compared to the previous year [5]. Long-term Implications - Industry leaders emphasize the need to break the cycle of low-price competition, which can disrupt market order and compromise product quality [5]. - The recent price adjustments are seen as a necessary step to foster a healthier, sustainable development trajectory for the industry, moving towards higher quality and added value [5].

Summary of Dongfang Yuhong Conference Call Company Overview - **Company**: Dongfang Yuhong - **Industry**: Construction Waterproofing Key Points and Arguments Sales and Revenue Performance - Dongfang Yuhong's sales have shown signs of recovery, with waterproof membrane sales increasing by over 6% year-on-year, while waterproof coatings saw a slight decline of 0.1% [3][2] - Significant growth in sand powder sales was noted, indicating a positive trend in overall sales performance [2] - Revenue decline has narrowed, with May's decline being less severe than in the first quarter and April, suggesting marginal improvement [2][3] - Price stabilization began in April, with leading companies issuing price increase notices, signaling potential recovery in profit margins [2][3] Market Demand and Strategic Focus - The overall demand in the construction waterproofing industry is declining, but there are pockets of demand in industrial energy, urban renewal, and national key projects [2][4] - Dongfang Yuhong's public construction group is focusing on these areas to seek structural growth opportunities [2][4] - The company anticipates a slowdown in price wars by 2025, with major players unwilling to sacrifice profits for sales volume [2][5] Business Strategy and Transformation - The company is shifting its strategy to "retail first, partnership first," moving away from some large real estate clients and transitioning towards C-end and small B models [2][6] - The retail segment is expected to grow, while the direct sales business to large real estate clients is projected to decline [2][6] - Dongfang Yuhong is deepening its penetration into lower-tier markets, focusing on non-waterproof categories such as membrane repair and special mortars to drive revenue growth [2][9] International Expansion - The company is actively expanding into overseas markets, establishing a dealer network in Southeast Asia and constructing a factory in North America [3][16] - Plans are in place to produce non-woven fabric in Saudi Arabia, with capital expenditures for overseas factories expected to be between 1 billion to 1.5 billion RMB in 2025 [3][17] Financial Outlook and Adjustments - The revenue structure for 2025 remains unchanged, with expectations of growth in retail and small B segments, while direct sales to large real estate clients are expected to decline significantly [6][7] - The company is undergoing a light asset model transformation to improve cash flow and reduce accounts receivable [7][19] - The anticipated revenue from real estate procurement is projected to be around 600 to 700 million RMB, significantly lower than previous years [6][19] Challenges and Future Prospects - The public construction group has struggled to meet budget targets in recent years, with revenue declines of nearly 20% due to a sharp drop in industry demand [15] - Strategic adjustments in 2025 aim to stabilize the business and expand product categories, particularly in mortar and piping [15][19] - The company expects to see a gradual recovery in revenue starting in 2026 as the impact of structural adjustments diminishes [19] Asset Management and Optimization - Dongfang Yuhong is focusing on optimizing asset layout and reducing excess capacity by selling or leasing idle factory spaces [21][22] - The company is also negotiating with the government to return some previously acquired land to streamline operations [22] Additional Important Information - The company has made significant adjustments to its retail business structure to enhance future growth, including integrating its retail operations with the civil construction platform [8][10] - The public construction business is still heavily reliant on engineering waterproof products, while the civil construction business has diversified its revenue sources [14][15]

Core Viewpoint - The 30th anniversary of Dongfang Yuhong highlights the company's growth, commitment to quality, and innovative spirit, emphasizing the importance of teamwork and dedication in achieving new heights [1][6]. Group 1: Company Development - Dongfang Yuhong has celebrated 30 years of progress, showcasing a strong commitment to quality and innovation [1]. - The company has initiated a story collection activity to commemorate its anniversary, reflecting on the dedication and achievements of its employees [1]. Group 2: Employee Commitment - Employees express gratitude and a sense of responsibility towards their commitments, viewing them as motivation to strive for excellence [3][5]. - The company fosters a culture of support and appreciation for employees' families, enhancing their sense of belonging and happiness [9]. Group 3: Brand Protection - Dongfang Yuhong has faced challenges from counterfeit products, leading to a strong focus on brand protection and quality assurance [10][12]. - The company maintains high standards in production and has established a robust legal framework to combat infringement and restore trust in its brand [12]. Group 4: Future Aspirations - The company aims to expand its roof tile business, recognizing its potential for value creation and market growth [5][6]. - Dongfang Yuhong is committed to continuing its legacy of excellence and innovation, striving to write a new chapter in its history [12].

Core Insights - The article highlights the 30-year journey of Dongfang Yuhong, showcasing its evolution from a local company to a global leader in building materials and systems services [1][5][6] - The company emphasizes the importance of perseverance and innovation, as illustrated by various success stories from employees who have contributed to its growth and technological advancements [3][7][8] Group 1: Company Milestones - Dongfang Yuhong has established its first smart factory and completed its first overseas project, marking significant milestones in its history [1] - The introduction of the 3000-type production line in 2013 revolutionized the competition in the self-adhesive waterproofing membrane market, leading to the development of innovative products [5][6] Group 2: Employee Contributions - Employees have shared their personal stories of dedication and hard work, such as leading technical experiments and overcoming production challenges, which have collectively contributed to the company's success [3][4][7] - The company has fostered a culture of continuous learning and skill development, with employees taking on mentorship roles to train the next generation of talent in the industry [8] Group 3: Technological Advancements - The 3000-type production line has produced over 120 million square meters of high-quality waterproof membranes, establishing a solid foundation for the company's business growth in this segment [6] - The company has developed 32 advanced products and tackled various technical challenges, showcasing its commitment to innovation and excellence in the industry [3][4]

证券代码：002271 证券简称：东方雨虹 公告编号：2025-058 北京东方雨虹防水技术股份有限公司 关于公司及全资子公司为下属公司提供担保的进展公告 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、担保情况概述 （一）本次担保基本情况 1、北京东方雨虹防水技术股份有限公司（以下简称"公司"）与中信银行 股份有限公司济南分行（以下简称"中信银行济南分行"）签署《最高额保证合 同》，公司为中信银行济南分行与公司全资子公司济南东方雨虹建筑材料有限公 司（以下简称"济南东方雨虹"）在一定期限内连续发生的多笔债务提供连带责 任保证。保证期间为主合同项下债务履行期限届满之日起三年，即自债务人依具 体业务合同约定的债务履行期限届满之日起三年。前述担保的债权本金最高限额 为人民币 3,000 万元。 2、公司与苏州银行股份有限公司扬州分行（以下简称"苏州银行扬州分行"） 签署《保证合同》，公司为苏州银行扬州分行与公司全资子公司虹石（江苏）新 材料科技有限公司（以下简称"虹石新材料"）之间主合同项下的一系列债务提 供连带责任保证，保证期间为自债务人在各单笔主合同项下的 ...

Group 1 - The core idea of the news is that Dongfang Yuhong is launching the 2025 "Safety and Environmental Month" initiative to enhance employee safety awareness and improve safety and environmental management capabilities in its manufacturing plants [1][5] - The initiative includes activities such as "Five Ones" promotion, special inspections, emergency drills, safety and environmental risk identification, and sustainable development theme activities [1] - On June 5, Dongfang Yuhong held an "Environmental Open Day" in response to the theme "Beautiful China, I Go First," engaging students in interactive activities to promote green development concepts [1] Group 2 - The company has established a "system + technology + management" three-dimensional environmental protection system, which includes forming a special working group to improve management systems, investing in pollution treatment equipment upgrades, and implementing dual systems for environmental and energy management [5] - Dongfang Yuhong's full-chain model of "source reduction - process control - end treatment" provides a replicable practice sample for the green transformation of the building materials industry [5] - The environmental activities at the Yueyang factory not only reflect Dongfang Yuhong's commitment to sustainable development over the past thirty years but also aim to foster social consensus on green and low-carbon initiatives [5]

Group 1 - Haitai Development plans to acquire controlling stake in Zhixueyun through cash, which may constitute a major asset restructuring [3] - Shutaishen's product STSP-0601 has been included in the priority review list by the National Medical Products Administration, entering the expedited approval process [4] - Yuyin Co. confirmed no undisclosed significant matters despite stock price fluctuations exceeding 20% over three trading days [5] Group 2 - ST Four Seasons announced the resignation of three vice presidents due to personal reasons [6] - Wanda Film is set to launch a shareholder reward program, offering discounted movie vouchers and exclusive purchase options for shareholders [7] - Huamai Technology reported normal business operations focused on communication infrastructure, with no undisclosed significant information [8] Group 3 - Cuiwei Co. is currently experiencing losses in its main business due to market conditions and operational changes [9] - Dongfang Yuhong has received government subsidies totaling 11.3344 million yuan, accounting for 10.48% of the audited net profit for 2024 [10] Group 4 - Wen's Co. reported a 14.23% year-on-year increase in pig sales revenue for May, with total sales of 3.1554 million pigs generating 5.323 billion yuan [12] - Wentaike plans to reduce its stake by up to 3% through block trades and centralized bidding, amounting to 37.3374 million shares [14] - Debang Technology has reduced its shareholding by 1% through block trades, now holding 16.83% of the company [15] Group 5 - Lanjian Intelligent plans to repurchase shares worth 10 to 20 million yuan at a maximum price of 41.88 yuan per share [17] - Chengdi Xiangjiang's subsidiary has won a bid for a 440 million yuan project with China Mobile for data center power system construction [19]