Core Viewpoint - The company, Beixin Road and Bridge (002307.SZ), has received approval from the Shenzhen Stock Exchange for its application to issue shares to specific investors, pending final registration approval from the China Securities Regulatory Commission (CSRC) [1][2]. Group 1: Share Issuance Details - The total amount to be raised from the share issuance is not to exceed 165 million RMB, which will be used for the Suzhou to Guzhen Expressway project and to supplement working capital [1][2]. - The issuance will involve up to 35 specific investors, including the controlling shareholder, Xinjiang Production and Construction Corps Construction Engineering Group [2][3]. - The issuance price will be no less than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing benchmark [3][4]. Group 2: Shareholder Information - The controlling shareholder, Xinjiang Production and Construction Corps Construction Engineering Group, holds 46.34% of the company's shares and plans to subscribe for shares with a cash investment between 20 million and 80 million RMB [2][3]. - The total number of shares to be issued will not exceed 30% of the company's total share capital prior to the issuance, amounting to a maximum of 380,487,474 shares [3][4]. Group 3: Regulatory and Advisory Information - The lead underwriter for this issuance is CITIC Securities Co., Ltd., with representatives Song Huayang and Zhang Tao overseeing the process [5].

Core Viewpoint - Xinjiang Beixin Road and Bridge Group Co., Ltd. maintains a long-term credit rating of AA with a stable outlook, reflecting its strong regional competitive advantage and solid project reserves despite facing challenges such as increased debt pressure and project profitability uncertainties [1][3][4]. Company Overview - The company is a state-controlled A-share listed road and bridge construction enterprise in Xinjiang, with comprehensive and high-level construction qualifications [3][4]. - As of the end of 2024, the company had total assets of 563.93 billion yuan and equity of 51.90 billion yuan, with a total revenue of 102.15 billion yuan and a net loss of 3.98 billion yuan [10][19]. Financial Performance - The company's total debt reached 378.02 billion yuan by the end of 2024, reflecting a 7.34% increase from the previous year, with a debt-to-asset ratio of 90.80% [6][10]. - The company reported a significant decline in profit, with a total profit of -3.98 billion yuan in 2024, primarily due to losses from the Guangyuan to Pingwu Expressway project [6][10][19]. Project and Contract Status - The company has a substantial project reserve, with an uncompleted contract amount of 362.71 billion yuan as of the end of 2024, primarily from government and state-owned enterprises [4][14]. - New contract amounts signed in 2024 were 201.95 billion yuan, with a notable decrease in contracts within Xinjiang but an increase in contracts outside the region [27] [14]. Debt and Financing - The company relies heavily on external financing, with its controlling shareholder providing guarantees amounting to 159.87 billion yuan, and has a total bank credit line of 580.90 billion yuan [19][20]. - The company faces risks related to the recovery of financing lease payments, with overdue amounts reaching 2.93 billion yuan by the end of 2024 [6][7]. Industry Context - The construction industry in Xinjiang is experiencing a downturn, with increased competition and a shift towards state-owned enterprises gaining market share [13]. - The company is positioned to benefit from government support and strategic initiatives like the Belt and Road Initiative, which may stabilize its operations [4][19].

Group 1 - The issuer, Xinjiang Beixin Road and Bridge Group Co., Ltd., has changed its accounting firm from Sigma Accounting Firm to Yongtuo Accounting Firm for the 2024 financial and internal control audit [2][5][6] - Yongtuo Accounting Firm was selected through a public bidding process and has been confirmed to have the necessary qualifications and capabilities to perform the audit [5][6] - The previous auditor, Sigma Accounting Firm, had provided audit services for 18 years and issued unqualified audit reports for the 2023 financial statements [5][6] Group 2 - Yongtuo Accounting Firm was established on December 20, 2013, and has a professional risk fund amounting to 2023 year-end [2][3] - The firm has no civil liability in the last three years related to professional conduct and has a clean record with no criminal penalties [2][3][4] - The audit fee for Yongtuo is set at RMB 2.7 million, which includes RMB 1.8 million for the annual report audit and RMB 900,000 for internal control audit, compared to the previous fee of RMB 2.6 million charged by Sigma [4][5] Group 3 - The issuer's audit committee has thoroughly reviewed Yongtuo's professional competence, investor protection capability, integrity, and independence before approving the appointment [5][6] - The decision to change the accounting firm was approved by both the board of directors and the supervisory board, ensuring compliance with relevant laws and regulations [6] - The change in accounting firm is not expected to adversely affect the issuer's production operations, financial status, or overall debt repayment capability [6]

Group 1 - Beixin Road and Bridge's application for issuing shares to specific targets has been approved by the Shenzhen Stock Exchange, pending approval from the China Securities Regulatory Commission [1] - Wangbian Electric's shareholders plan to reduce their holdings by a total of up to 2.99% of the company's shares, with specific reductions detailed for each shareholder [1] - Guotou Zhonglu is planning a major asset restructuring, leading to a suspension of its stock trading for up to 10 trading days [2] Group 2 - Baiotai has signed a licensing agreement with SteinCares for the commercialization of BAT2406 in Brazil and Latin America, with total payments potentially reaching up to $10 million [3] - Dongfang Bio has obtained two medical device registration certificates for its products, which are valid until June 1, 2030 [4] - Pulaike's subsidiary has received a new veterinary drug registration certificate [5] Group 3 - Wanyi Technology has signed an agreement to establish a joint laboratory with the Energy Research Institute, with a total research and development budget of 6 million yuan [6] - Yingboer plans to use up to 300 million yuan of idle funds for financial management [7] - Blue Biological has received two new veterinary drug registration certificates [8] Group 4 - Jinkai New Energy intends to inject up to 1.247 billion yuan into its wholly-owned subsidiary to enhance its operational capabilities [9] - China Pacific Insurance's assistant general manager's qualification has been approved [10] - Zhaoyan New Drug is reducing its registered capital and notifying creditors [11] Group 5 - Weili Medical plans to invest 37.5 million yuan in establishing a medical industry investment fund [12] - Hongbai New Materials has signed a deposit agreement for idle raised funds [13] - Tongyou Technology is applying for a credit limit of 10 million yuan from a bank [14] Group 6 - Warner Pharmaceutical's subsidiary has received approval for its magnesium sulfate raw material drug [15] - Fuda Co. plans to establish a wholly-owned subsidiary with a capital contribution of 475 million yuan [16] - Yabao Pharmaceutical has obtained a loan commitment letter for stock repurchase of up to 90 million yuan [17] Group 7 - Zhongyin Securities' chairman has resigned due to work adjustments [18] - Aili Home has terminated its share reduction plan ahead of schedule [19] - Samsung New Materials has appointed a new financial officer [20] Group 8 - Guobang Pharmaceutical's subsidiary has received EU GMP certification for its product [21] - Yipin Hong has received a drug registration certificate for its injection solution [22] - Wenzhou Hongfeng's subsidiary has obtained a utility model patent certificate [23] Group 9 - Cangge Mining plans to sign a financial service agreement with Zijin Mining Group [24] - Naipu Mining's application for convertible bonds has been accepted by the Shenzhen Stock Exchange [25] - Shenyang Machine Tool has completed its major asset restructuring [26] Group 10 - Xinlaifu plans to distribute a cash dividend of 5 yuan per 10 shares [27] - Jiashitang plans to distribute a cash dividend of 1.7 yuan per 10 shares [28] - Manbuer plans to distribute a cash dividend of 2.5 yuan per 10 shares [29] Group 11 - Guo Wang Yingda plans to distribute a cash dividend of 0.51 yuan per 10 shares [30] - Changsha Bank's shareholder plans to reduce holdings by up to 0.92% [31] - Hu Nong Commercial Bank plans to distribute a cash dividend of 1.93 yuan per 10 shares [32] Group 12 - Huaxiang Co. plans to distribute a cash dividend of 1.17 yuan per 10 shares [33]

关于向特定对象发行股票申请获得深圳证券交易所上市审核 中心审核通过的公告 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。 新疆北新路桥集团股份有限公司（以下简称"公司"）于 2025 年 6 月 23 日 收到深圳证券交易所（以下简称"深交所"）出具的《关于新疆北新路桥集团股 份有限公司申请向特定对象发行股票的审核中心意见告知函》。深交所发行上市 审核机构对公司向特定对象发行股票的申请文件进行了审核，认为公司符合发行 条件、上市条件和信息披露要求，后续深交所将按规定报中国证券监督管理委员 会（以下简称"中国证监会"）履行相关注册程序。 证券代码：002307 证券简称：北新路桥 公告编号：2025－31 新疆北新路桥集团股份有限公司 新疆北新路桥集团股份有限公司董事会 2025 年 6 月 24 日 公司本次向特定对象发行股票尚需经中国证监会同意注册后方可实施，最终 能否获得中国证监会作出同意注册的决定及其时间仍存在不确定性。公司将根据 该事项的进展情况及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 ...

新疆北新路桥集团股份有限公司 2025 年跟踪评级报告 | !! | | --- | 1 www.lhratings.com 联合〔2025〕4910 号 联合资信评估股份有限公司通过对新疆北新路桥集团股份有限公 司主体及其相关债券的信用状况进行跟踪分析和评估，确定维持新 疆北新路桥集团股份有限公司主体长期信用等级为 AA，维持"20 北 新 R1"信用等级为 AA，评级展望为稳定。 特此公告 联合资信评估股份有限公司 评级总监： 二〇二五年六月二十二日 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日的 独立意见陈述，未受任何机构或个人影响。评级结论及相关分析为联合资信 基于相关信息和资料对评级对象所发表的前瞻性观点，而非对评级对象的事 实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵循了真 实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响，本报告 在资料信息获取、评级方法与模型、未来事项预测评估等方面存在局限性。 二、本报告系联合资信接受新疆北新路桥集团股份有限公司（以下简称 "该公司"）委托所出具，除因本次评级事项联合资信与该公司构成评级委 托关系外，联合资信、评 ...

债券代码：149213.SZ 债券简称：20北新R1 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜作出独立判断，而不应将本报告中的任何内容据以作为中国银河证券所作的 承诺或声明。 债券受托管理人 1 声 明 中国银河证券股份有限公司关于 新疆北新路桥集团股份有限公司 变更会计师事务所的 临时受托管理事务报告 2 本报告依据《公司债券发行与交易管理办法》、《公司债券受托管理人执 业行为准则》及《新疆北新路桥集团股份有限公司2019年面向合格投资者公开 发行公司债券债券受托管理协议》（以下简称"《债券受托管理协议》"）等 相关文件，以及新疆北新路桥集团股份有限公司（以下简称"发行人"）出具 的公告及相关文件等，由"20北新R1"的债券受托管理人中国银河证券股份有 限公司（以下简称"中国银河证券"）编制。 1、新聘任会计师事务所名称：永拓会计师事务所（特殊普通合伙）（以下 简称"永拓"） 。 2、原聘任会计师事务所名称：希格玛会计师事务所（特殊普通合伙）（以 下简称"希格玛"） 。 3、变更会计师事务所的原因：新疆北新路桥集团股份有限公司（以下简称 "发行人"）原审计机构希格玛会计师事务 ...

证券代码：002307 证券简称：北新路桥 公告编号：2025－30 新疆北新路桥集团股份有限公司 工程中标公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 新疆北新路桥集团股份有限公司（以下简称"公司""本公司"）近日收到腾冲 县金石矿业开发有限公司发来的《中标通知书》。根据《中标通知书》，本公司 子公司新疆北新矿业建设工程有限公司（以下简称"北新矿业"）被确定为云南省 腾冲县白石岩、观音岩、白岩子矿区工程项目（施工）（以下简称"该项目"）中 标人。中标金额为人民币捌亿陆仟肆佰陆拾柒万零壹拾元整（¥864,670,010.00）。 一、业主方及项目基本情况 （一）业主名称：腾冲县金石矿业开发有限公司 本公司及子公司北新矿业与腾冲县金石矿业开发有限公司不存在关联关系。 （二）项目工期：1825 日历天。 二、对公司的影响 该项目的中标有利于公司进一步提升市场竞争力和市场份额，若该项目顺利 实施将对公司未来业绩产生积极影响。 三、风险提示 证券代码：002307 证券简称：北新路桥 公告编号：2025－30 公司尚未与项目业主方正式签订合同，因此合同条款尚存 ...

Group 1 - The company announced that its subsidiary, Xinjiang Beixin Mining Construction Engineering Co., Ltd., has been awarded a construction project in Yunnan Province with a bid amount of 865 million yuan [1] - The project duration is set for 1825 calendar days, which is expected to positively impact the company's market competitiveness and market share [1] - The company has not yet formally signed a contract with the project owner, indicating uncertainty in contract terms [1]

截至2025年5月30日收盘，北新路桥（002307）报收于4.12元，较上周的3.94元上涨4.57%。本周，北新 路桥5月30日盘中最高价报4.15元。5月26日盘中最低价报3.92元。北新路桥当前最新总市值52.25亿元， 在基础建设板块市值排名21/46，在两市A股市值排名2766/5146。 5、那么多的工程订单为啥还能亏损？尊敬的投资者您好，感谢您对本公司的关注。本公司亏损的原因 是 2024年度报告期内个别高速公路进入运营期，根据行业特点在运营初期属于收费培育期。本公司所 参与的大型基础设施建设项目的收益实现具有长期性的特点，公司持续建立健全内部管理体系，在建设 运营、风险防控等阶段采取科学管理措施。本公司始终致力于通过规范管理与战略布局实现资产保值增 值，同时公司也将多措并举持续优化运营，并对项目成本管理进行深度管控，最大限度地提升各项目盈 利水平。谢谢。 6、北新路桥，在乌克兰曾经有过业务吗？俄罗斯呢？本公司作为大型国有建筑上市公司，有能力承接 并且一直积极参与国内外相关重大基础设施建设项目。本公司目前暂未在乌克兰及俄罗斯地区开展工程 项目，后期如有需要披露的信息，公司将按照相关规定及时履行 ...