Investment Rating - The report maintains a "Buy" rating for key companies in the construction and infrastructure sector, particularly those benefiting from the Xinjiang transportation infrastructure projects [9][26]. Core Viewpoints - The establishment of the Xinjiang-Tibet Railway Company, with a registered capital of 95 billion RMB, is expected to catalyze significant investment opportunities in the Xinjiang transportation infrastructure sector [1][12]. - The Xinjiang region is anticipated to receive increased policy support and major project investments, particularly in transportation infrastructure, due to its strategic importance to national energy security and ethnic unity [17][12]. - The report emphasizes the potential for substantial returns from leading construction companies such as China Railway, China Railway Construction, and China Communications Construction, as well as local firms like Xinjiang Communications Construction and Beixin Road and Bridge [1][8]. Summary by Sections Industry Investment Rating - The report recommends a "Buy" rating for major construction companies involved in Xinjiang's infrastructure projects, highlighting their strong market positions and expected growth [9][26]. Key Beneficiaries - Major construction central enterprises such as China Railway, China Railway Construction, and China Communications Construction are identified as primary beneficiaries of the Xinjiang infrastructure projects [18][24]. - Local companies like Xinjiang Communications Construction and Beixin Road and Bridge are also highlighted for their significant roles in regional infrastructure development [21][22]. Project Details - The Xinjiang-Tibet Railway, approximately 2010 kilometers long, is projected to require an investment of 96 billion RMB, with construction expected to commence in 2025 [1][12]. - The report outlines the timeline for project milestones, including geological surveys and construction start dates, indicating a structured approach to project execution [13][17]. Financial Metrics - Key financial metrics for recommended companies include projected earnings per share (EPS) and price-to-earnings (PE) ratios, with China Railway and China Railway Construction showing favorable valuations [27][28]. - The report provides detailed financial forecasts for these companies, indicating strong potential for growth and returns on investment [9][26].

证券日报网讯 8月8日晚间，北新路桥发布公告称，公司第七届董事会第二十二次会议审议通过了《关 于修订〈公司章程〉并调整公司内部监督机构的议案》等多项议案。 （文章来源：证券日报） ...

Group 1 - The company, Beixin Road and Bridge, announced on the evening of August 8 that its seventh supervisory board's 22nd meeting approved multiple proposals, including the revision of the company's articles of association and adjustments to its internal supervisory organization [2]

证券日报网讯8月8日晚间，北新路桥（002307）发布公告称，公司将于2025年8月26日召开2025年第二 次临时股东大会。本次股东大会将审议《关于修订〈公司章程〉并调整公司内部监督机构的议案》等多 项议案。 ...

Group 1 - The company Beixin Road and Bridge (SZ 002307) held its 22nd meeting of the 7th board of directors on August 7, 2025, in Urumqi, where it reviewed the proposal to amend the "Audit Committee Work Rules" [1] - For the year 2024, the company's revenue composition is as follows: engineering revenue accounts for 91.78%, highway service industry for 5.59%, other industries for 1.56%, equipment leasing for 0.53%, and product sales revenue for 0.19% [1] - As of the report date, Beixin Road and Bridge has a market capitalization of 5.8 billion yuan [1]

Core Viewpoint - The company is enhancing its governance structure by revising its articles of association and internal supervisory mechanisms, which will be submitted for shareholder approval [1][2][3]. Group 1: Governance Revisions - The company has approved the revision of its articles of association to improve governance and compliance with relevant laws and regulations [1]. - The internal supervisory structure will be adjusted, with the audit committee taking on the responsibilities of the supervisory board [1]. - The board has also approved revisions to the rules governing shareholder meetings, board meetings, and various committee working rules, all requiring shareholder approval [2][3][4][5][6]. Group 2: New Policies and Procedures - The company has introduced new policies, including the insider information management system and information disclosure management system, to align with current regulations [7][8]. - A new director resignation management system and public opinion management system have been established to enhance operational transparency and accountability [7][8]. - The company has also approved the extension of the authorization for the board to manage stock issuance to specific investors, which will be subject to shareholder approval [9][10].

Group 1 - The company held the 22nd meeting of the 7th Supervisory Board on August 7, 2025, in Urumqi, with all 5 supervisors present, meeting the legal quorum requirements [1] - The meeting approved the proposal to amend the company's articles of association and adjust the internal supervisory structure, allowing the Board of Directors' Audit Committee to exercise the powers of the Supervisory Board as per the Company Law [2] - The proposal to extend the validity period of the resolution for issuing shares to specific targets was also approved, with the voting results showing 3 votes in favor and 2 abstentions from related supervisors [3][4] Group 2 - The company plans to submit the amendments to the articles of association and the adjustments to the internal supervisory structure to the shareholders' meeting for special resolution approval [2][4] - The company will also seek authorization from the shareholders' meeting for the Board of Directors to handle subsequent registration changes and filing of the amended articles of association [2] - The related transactions involved in the issuance of shares to specific targets will have the related shareholders abstaining from voting at the shareholders' meeting [4][6]

Meeting Information - The company will hold its second extraordinary general meeting of shareholders in 2025 on August 26, 2025, at 11:00 AM [1] - The meeting will include both on-site and online voting options, with specific time slots for online voting [1][2] Voting Procedures - Shareholders can choose either on-site or online voting, but not both for the same share [2] - Only shareholders registered by the close of trading on August 14, 2025, are eligible to attend and vote [2] Agenda Items - The meeting will discuss several proposals, including amendments to the company's articles of association and the extension of the validity period for resolutions regarding stock issuance to specific targets [3][4] - Certain proposals require a special resolution, needing more than two-thirds approval from attending shareholders [4] Registration and Participation - Individual shareholders must present identification and stock account information for registration, while corporate shareholders need to provide additional documentation [5] - The company will ensure that the voting results for minority investors are counted separately to protect their interests [4] Online Voting Process - Detailed instructions for participating in online voting are provided, including the need for identity verification [6] - The online voting system will be available during specified hours on the day of the meeting [6]

Core Points - The company has announced the extension of the validity period for the resolution regarding the issuance of shares to specific targets, now set to expire on September 3, 2026 [1][2][3] - The decision to extend the validity period was made to ensure the smooth progress of the share issuance process [2] - The independent directors of the company have convened a special meeting to review and approve the extension of the resolution [2] Summary by Sections - **Resolution Extension**: The company has proposed to extend the validity period of the shareholder meeting resolution regarding the issuance of shares to specific targets by an additional 12 months, now valid until September 3, 2026 [2][3] - **Authorization**: The authorization for the board of directors to handle matters related to the issuance of shares to specific targets remains unchanged, aside from the extension of the validity period [2] - **Shareholder Meeting**: The proposal for the extension will be submitted for approval at the company's shareholder meeting, with related shareholders abstaining from voting [3]

Core Points - The internal audit system of Xinjiang Beixin Road and Bridge Group Co., Ltd. aims to standardize internal audit work, clarify responsibilities and powers of the internal audit institution and personnel, and enhance the supervisory function of internal audits to protect the legitimate rights and interests of the company and its shareholders [1][2] Chapter Summaries Chapter 1: Audit Purpose - The internal audit is designed to ensure compliance with laws and regulations, improve corporate governance, and promote effective internal controls [1] Chapter 2: Audit Scope and Basis - The audit applies to the headquarters and all subsidiaries, departments, and any other matters deemed necessary by the board [2] - The audit is based on national laws, company regulations, and operational guidelines [2] Chapter 3: Audit Institution and Personnel - The audit department is responsible for overseeing the authenticity and completeness of financial information and internal control systems [3] - Internal auditors must possess relevant professional knowledge and adhere to ethical standards [3][4] Chapter 4: Audit Responsibilities and Powers - The audit committee organizes and implements audits, ensuring that audit results are reliable for performance evaluations [4][5] - Auditors have the authority to request necessary documents and investigate issues within the audited units [6][7] Chapter 5: Work Procedures - The audit department must prepare an annual audit plan and report findings to the board [8][9] - Auditors must maintain confidentiality and document their findings accurately [9][10] Chapter 6: Audit Archive System - Audit records must be managed according to legal requirements, ensuring their integrity and security [11][12] Chapter 7: Rewards and Penalties - The audit department can recommend rewards for compliant behavior and impose penalties for violations of company policies [12][13] Chapter 8: Supplementary Provisions - The internal audit system is subject to relevant laws and regulations, and any amendments must be approved by the board [14][15]