Core Viewpoint - The company reported a decline in both revenue and net profit for the third quarter and the first three quarters of the year, indicating ongoing financial challenges [1] Financial Performance - Third quarter revenue was 4.86 billion, a decrease of 5.08% year-on-year [1] - Third quarter net profit showed a loss of 102 million, a significant decline of 2,601.40% [1] - Revenue for the first three quarters totaled 13.881 billion, down 7.57% compared to the previous year [1] - Net profit for the first three quarters also reflected a loss of 198 million, a decrease of 2,141.86% [1]

Core Insights - The company reported a revenue of 13.881 billion yuan for the first three quarters of 2025, representing a year-on-year decline of 7.57% [1] - The net profit attributable to shareholders was -0.198 billion yuan, showing a significant year-on-year decrease of 2141.86% [1] - The basic earnings per share were -0.1685 yuan, which is a year-on-year drop of 1418.02% [1]

证券代码：002302 证券简称：西部建设 公告编号：2025-066 关于计提信用减值准备、资产减值准备的公告 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、本次计提信用减值准备、资产减值准备的概况 为客观、公允地反映公司的资产价值、财务状况和经营成果， 根据《企业会计准则》及公司会计政策等相关规定，基于谨慎性 原则，公司对截至 2025 年 9 月 30 日合并财务报表范围内的各类 资产进行了全面清查和减值测试，根据测试结果对存在减值迹象 的资产相应计提了减值准备。2025 年 1- 9 月，公司共计提减值 准备 96,358,312.63 元。具体计提减值准备情况如下： | 项 目 | 2025 年 1-9 | 月计提金额（元） | | --- | --- | --- | | 一、信用减值准备 | | 75,855,190.24 | | 其中：应收账款 | | 72,315,118.64 | | 其他应收款 | | 3,508,700.67 | | 应收票据 | | 2,570.93 | | 长期应收款 | | 28,800.00 | | 二、资产 ...

证券代码：002302 证券简称：西部建设 公告编号：2025-064 第八届十五次监事会决议公告 本公司及监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、监事会会议召开情况 中建西部建设股份有限公司（以下简称"公司"）第八届十 五次监事会会议通知于 2025 年 10 月 16 日以电子邮件方式送 达全体监事。会议于 2025 年 10 月 21 日在四川省成都市天府 新区汉州路 989 号中建大厦公司会议室以现场表决方式召开。 应出席会议监事 3 人，实际出席会议监事 3 人。会议由监事会 主席王金雪先生主持，会议的召开符合《中华人民共和国公司 法》《公司章程》及公司《监事会议事规则》等规定。 二、监事会会议审议情况 经与会监事充分讨论，一致通过以下决议： 1.审议通过《关于 2025 年第三季度报告的议案》 表决结果：3 票同意，0 票反对，0 票弃权。 具体内容详见公司同日在《证券时报》《上海证券报》《中 国证券报》及巨潮资讯网（www.cninfo.com.cn）披露的《2025 年第三季度报告》。 经审核，监事会认为董事会编制和审议公司 2025 年第 ...

证券代码：002302 证券简称：西部建设 公告编号：2025-063 一、董事会会议召开情况 中建西部建设股份有限公司（以下简称"公司"）第八届二十 四次董事会会议通知于 2025 年 10 月 16 日以专人及电子邮件方式 送达全体董事。会议于 2025 年 10 月 21 日在四川省成都市天府新 区汉州路 989 号中建大厦公司会议室以现场结合通讯方式召开。 应出席会议董事 7 人，实际出席会议董事 7 人（其中董事侍军凯 先生、张海霞女士、廖中新先生、杨波先生以通讯方式出席会议）。 会议由董事长章维成先生主持，会议的召开符合《中华人民共和 国公司法》《公司章程》及公司《董事会议事规则》等规定。 二、董事会会议审议情况 经与会董事充分讨论，一致通过以下决议： 1.审议通过《关于 2025 年第三季度报告的议案》 表决结果：7 票同意，0 票反对，0 票弃权。 具体内容详见公司同日在《证券时报》《上海证券报》《中 国证券报》及巨潮资讯网（www.cninfo.com.cn）披露的《2025 年 第三季度报告》。 本议案经董事会审计与风险委员会审议通过。 第八届二十四次董事会决议公告 本公司及董事会全体成员 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥4,859,665,725.46, a decrease of 5.08% compared to the same period last year[4] - The net profit attributable to shareholders of the listed company was -¥101,559,538.25, representing a significant decline of 2,601.40% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥121,944,663.34, a decrease of 4,551.94% compared to the previous year[4] - The basic earnings per share for the period was -¥0.0805, down 2,615.63% year-on-year[4] - Total operating revenue for Q3 2025 was CNY 13.88 billion, a decrease of 7.55% from CNY 15.02 billion in the same period last year[21] - Total operating costs amounted to CNY 13.97 billion, down 5.46% from CNY 14.77 billion year-on-year[21] - Net profit for the period was a loss of CNY 184.73 million, compared to a profit of CNY 60.34 million in the previous year[22] - The total equity attributable to shareholders decreased to CNY 9.12 billion from CNY 9.48 billion in the previous year[20] - The company reported a total comprehensive loss of CNY 183.31 million, compared to a comprehensive income of CNY 59.80 million in the previous year[23] - Basic and diluted earnings per share were both CNY -0.1685, compared to CNY -0.0111 in the same period last year[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥34,410,716,220.37, an increase of 2.72% from the end of the previous year[4] - The company's total liabilities increased to CNY 24.08 billion, up from CNY 22.78 billion year-on-year[20] - Current assets amounted to CNY 29.22 billion, up from CNY 27.95 billion at the start of the period, indicating a growth of approximately 4.5%[18] - The company's short-term borrowings rose to CNY 654.66 million from CNY 580.42 million, an increase of about 12.7%[18] - The total liabilities of the company are not explicitly stated but can be inferred from the balance sheet data provided[17] Cash Flow - Cash and cash equivalents decreased by 45.30% due to increased payments for goods during the reporting period[9] - Cash and cash equivalents decreased to CNY 1.91 billion from CNY 3.49 billion, representing a decline of about 45.4%[17] - Net cash flow from investment activities increased by 73.71% as cash payments for fixed assets decreased[11] - Operating cash inflow for the current period was $10,100,946,826.15, down 16.0% from $12,019,127,238.96 in the previous period[25] - Operating cash outflow for the current period was $11,141,380,701.95, a decrease of 14.1% compared to $12,971,101,658.57 in the previous period[26] - Net cash flow from operating activities was -$1,040,433,875.80, worsening from -$951,974,419.61 in the previous period[26] - Cash inflow from investment activities was $39,612,394.26, down from $50,570,675.12 in the previous period[26] - Cash outflow from investment activities was $100,041,581.87, significantly reduced from $280,392,815.14 in the previous period[26] - Net cash flow from investment activities was -$60,429,187.61, an improvement from -$229,822,140.02 in the previous period[26] - Cash inflow from financing activities was $746,641,559.57, down from $991,715,991.20 in the previous period[26] - Cash outflow from financing activities was $1,103,958,606.18, a decrease from $1,759,261,440.09 in the previous period[26] - Net cash flow from financing activities was -$357,317,046.61, an improvement from -$767,545,448.89 in the previous period[26] - The net increase in cash and cash equivalents was -$1,458,688,074.83, compared to -$1,947,584,137.10 in the previous period[26] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 71,666[13] - The company has a total of 10 major shareholders, with the largest being 中建新疆建工（集团）有限公司 holding 396,731,588 shares[15] - The company is controlled by China State Construction Engineering Corporation, indicating a unified control structure among major shareholders[15] Research and Development - The company reported a 231.34% increase in development expenditures compared to the beginning of the period, attributed to capitalized R&D investments[9] - Research and development expenses were CNY 306.93 million, a decrease of 17.59% from CNY 372.57 million in the previous year[21] Taxation - The company experienced a 311.66% increase in income tax expenses due to a decrease in deferred tax expenses recognized during the reporting period[10]

Group 1 - The company's Q3 revenue was 4.86 billion, a decrease of 5.08% [1] - The company reported a net loss of 102 million, a decline of 2,601.40% [1] - For the first three quarters, revenue totaled 13.881 billion, down 7.57% [1] Group 2 - The net loss for the first three quarters was 198 million, a decrease of 2,141.86% [1]

Core Viewpoint - The stock of Western Construction has shown a positive trend with a year-to-date increase of 10.15%, despite a decline in revenue and net profit for the first half of 2025 [1][2]. Financial Performance - As of October 10, 2025, Western Construction reported a revenue of 90.21 billion yuan for the first half of the year, representing a year-on-year decrease of 8.85% [2]. - The company recorded a net profit attributable to shareholders of -96.27 million yuan, a decline of 1810.39% compared to the previous year [2]. Stock Market Activity - On October 21, 2025, the stock price increased by 2.01%, reaching 7.11 yuan per share, with a trading volume of 28.56 million yuan and a turnover rate of 0.32% [1]. - The stock has appeared on the "Dragon and Tiger List" three times this year, with the most recent instance on August 13, 2025, where it saw a net purchase of 2.49 million yuan [1]. Shareholder Information - As of October 10, 2025, the number of shareholders increased to 74,000, up by 3.32% from the previous period, with an average of 17,049 circulating shares per person, a decrease of 3.21% [2][3]. - The company has distributed a total of 1.242 billion yuan in dividends since its A-share listing, with 423 million yuan distributed in the last three years [3]. Business Overview - Western Construction, established on October 18, 2001, specializes in the production and sales of high-performance ready-mixed concrete, with its main business revenue composition being 95.01% from concrete sales [2]. - The company operates in various sectors, including cement, prefabricated buildings, and water conservancy construction [2].

Market Overview - The cement sector increased by 0.24% on October 20, with Hanjian Heshan leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Individual Stock Performance - Hanjian Heshan (603616) closed at 5.30, up 2.51% with a trading volume of 105,700 shares and a turnover of 55.47 million yuan [1] - Fujian Cement (600802) closed at 5.75, up 1.77% with a trading volume of 187,500 shares and a turnover of 108 million yuan [1] - Other notable performers include Sanhe Yingshao (003037) at 8.00 (+1.65%), Longquan Co. (002671) at 5.09 (+1.19%), and Xibu Construction (002302) at 6.97 (+1.16%) [1] Capital Flow Analysis - The cement sector experienced a net outflow of 121 million yuan from institutional investors, while retail investors saw a net inflow of 102 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Detailed Capital Flow for Selected Stocks - Conch Cement (600585) had a net inflow of 18.35 million yuan from institutional investors, but a net outflow of 5.47 million yuan from retail investors [3] - Jinyu Group (000401) saw a significant net inflow of 10.42 million yuan from institutional investors, while retail investors had a net outflow of 13.28 million yuan [3] - Qing Song Jianhua (600425) reported a net inflow of 8.90 million yuan from institutional investors, with retail investors also experiencing a net outflow of 12.95 million yuan [3]

Group 1 - The company disclosed its major operating conditions for the third quarter of 2025, focusing on concrete signing and sales [1] - The company reported significant project signing, with over 100,000 cubic meters in major projects during the third quarter of 2025 [1]