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建筑建材行业更新报告:雅江水电站板块可能有哪些遗珠?
EBSCN· 2025-07-24 03:46
Investment Rating - The report maintains an "Overweight" rating for the construction and engineering sector and a "Buy" rating for non-metallic building materials [1][11]. Core Insights - The Yajiang Hydropower Station has officially commenced construction with a total investment of approximately 1.2 trillion yuan, differing structurally from the Three Gorges Dam [3]. - The Yarlung Tsangpo River downstream hydropower project in Tibet will implement a run-of-river development approach, constructing five tiered power stations to enhance power generation efficiency through cascading water flow [3]. - The average cost of newly approved hydropower projects in 2023 is estimated at 20,344 yuan per kW, suggesting an expected installed capacity of 60 million kW for the Yarlung Tsangpo project [3]. Summary by Sections Project Overview - The Yajiang Hydropower Station project is expected to catalyze future developments, with the next phases likely involving "bidding" and "performance release" [4]. - The project structure is anticipated to differ significantly from traditional reservoir dams, such as the Three Gorges Dam [4]. Comparative Analysis - The Zangmu Hydropower Station, the first large-scale hydropower station on the Yarlung Tsangpo River, has a total installed capacity of 510,000 kW and a total investment of 9.6 billion yuan, with a construction period of nearly eight years [5]. - The Dadu River Hard Beam Package Hydropower Station, with an installed capacity of 1.116 million kW, showcases advanced construction techniques that may parallel those of the Yajiang project [6]. Supplier Insights - The report identifies potential suppliers for the Yajiang project based on bidding data from the Zangmu Hydropower Station, highlighting companies such as China Power Construction, China Energy Engineering, and Huaxin Cement as key players [7]. - The report notes significant stock price increases for several suppliers since July 21, with China Power Construction and Huaxin Cement both seeing a rise of 33% [7]. Investment Recommendations - The commencement of the Yajiang Hydropower Station is expected to generate new demand for construction and materials, prompting a focus on companies involved in hydropower engineering and infrastructure, such as China Power Construction and China Railway [8]. - Material suppliers like Huaxin Cement and equipment providers such as Tianqiao Hoisting are also recommended for investment consideration [8].
天桥起重: 2025年半年度业绩预告
Zheng Quan Zhi Xing· 2025-07-14 09:20
Group 1 - The company expects a net profit of 38.3 million to 46 million yuan for the current reporting period, compared to 25.5789 million yuan in the same period last year, indicating a growth of 49.73% to 79.84% [1] - The net profit after deducting non-operating gains and losses is projected to be between 31.3 million and 38.2 million yuan, up from 17.3668 million yuan last year, reflecting a growth of 80.23% to 119.96% [1] - Basic earnings per share are estimated to be between 0.027 yuan and 0.032 yuan, compared to 0.018 yuan in the previous year [1] Group 2 - The significant growth in performance is attributed to the company's focus on annual operational goals, effective management of production and delivery, and a notable increase in product delivery volume compared to the previous year [1] - The company is committed to addressing market challenges by focusing on potential demands in target industries, increasing investment in R&D for high-end lifting equipment and solutions, and promoting cost reduction and efficiency improvement [2]
天桥起重(002523) - 2025 Q2 - 季度业绩预告
2025-07-14 09:00
[Current Period Performance Forecast](index=1&type=section&id=Item%20I.%20Current%20Period%20Performance%20Forecast) The company anticipates significant performance growth in H1 2025, with substantial increases in both net profit and net profit after deducting non-recurring items - The performance forecast covers the period from January 1, 2025, to June 30, 2025[3](index=3&type=chunk) Key Financial Indicators Forecast | Item | Current Reporting Period (H1 2025) | Prior Period (H1 2024) | YoY Growth | | :--- | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | Profit: 38.30 million – 46.00 million yuan | Profit: 25.5789 million yuan | 49.73% - 79.84% | | **Net Profit After Deducting Non-Recurring Gains and Losses** | Profit: 31.30 million – 38.20 million yuan | Profit: 17.3668 million yuan | 80.23% - 119.96% | | **Basic Earnings Per Share** | Profit: 0.027 – 0.032 yuan/share | Profit: 0.018 yuan/share | - | [Communication with Accounting Firm](index=1&type=section&id=Item%20II.%20Communication%20with%20Accounting%20Firm) The company has pre-communicated with its accounting firm regarding the performance forecast, which remains unaudited - This performance forecast has not been audited by the accounting firm, but the company has pre-communicated with the firm on related matters[4](index=4&type=chunk) [Explanation of Performance Change](index=1&type=section&id=Item%20III.%20Explanation%20of%20Performance%20Change) Significant performance growth is driven by increased product deliveries and effective cost control, with future focus on high-end equipment R&D and efficiency improvements - The primary driver of performance growth is a **significant year-over-year increase** in product delivery volume during the first half of the year[5](index=5&type=chunk) - The company contributed to profit growth by continuously deepening refined management and **effectively controlling costs and expenses**[5](index=5&type=chunk) - The company's future strategy will focus on **R&D and technological upgrades** for high-end intelligent and energy-saving environmental protection crane equipment and solutions, while continuously promoting **cost reduction and efficiency improvement**[6](index=6&type=chunk) [Risk Warning](index=2&type=section&id=Item%20IV.%20Risk%20Warning) Investors are cautioned that this performance forecast is preliminary, with final financial data subject to the official 2025 semi-annual report - This performance forecast is a preliminary estimate by the company, and specific financial data will be subject to the company's disclosed 2025 semi-annual report[7](index=7&type=chunk)
天桥起重: 国泰海通证券股份有限公司关于株洲市国有资产投资控股集团有限公司详式权益变动报告书之财务顾问核查意见
Zheng Quan Zhi Xing· 2025-07-08 13:14
Group 1 - The core viewpoint of the document is that Guotai Junan Securities Co., Ltd. has conducted a thorough review of the detailed equity change report submitted by Zhuzhou State-owned Assets Investment Holding Group Co., Ltd., confirming the accuracy and completeness of the disclosed information [1][3][4] - The financial advisor asserts that the report complies with relevant laws and regulations, including the Company Law and Securities Law, and that there are no significant discrepancies in the information provided [3][4] - The purpose of the equity change is stated as a demonstration of confidence in the future development prospects of the listed company and recognition of its long-term investment value, aimed at enhancing investor confidence and protecting shareholder interests [4] Group 2 - The financial advisor has verified that the acquirer has provided all necessary documentation required for the equity change disclosure, and no major omissions or misleading statements were found [4] - The acquirer, Zhuzhou State-owned Assets Investment Holding Group Co., Ltd., is confirmed to have the necessary qualifications and capabilities for the acquisition, with a registered capital of 400 million RMB [4][6] - The document outlines the ownership structure of Zhuzhou State-owned Assets Investment Holding Group Co., Ltd., indicating that it is controlled by Zhuzhou Industrial Development Investment Holding Group Co., Ltd., which holds 90% of its shares [6][4]
天桥起重: 详式权益变动报告书
Zheng Quan Zhi Xing· 2025-07-08 13:14
Core Viewpoint - The report details the equity changes of Zhuzhou Tianqiao Crane Co., Ltd., indicating an increase in shareholding by the Zhuzhou State-owned Assets Investment Holding Group Co., Ltd. [1][2] Group 1: Company Information - Company Name: Zhuzhou Tianqiao Crane Co., Ltd. [1] - Stock Listing Location: Shenzhen Stock Exchange [1] - Stock Code: 002523 [1] - Address: 268 Shennong City Forest Road, Tianyuan District, Zhuzhou City [1] Group 2: Shareholding Changes - The information disclosure obligor has increased its shareholding by acquiring 13,088,200 shares, representing 0.92% of the total share capital [4]. - After this transaction, the information disclosure obligor holds a total of 354,160,126 shares, amounting to 25.00% of the total share capital [4]. Group 3: Regulatory Compliance - The report is prepared in accordance with the Company Law of the People's Republic of China and the Securities Law of the People's Republic of China [1]. - The information disclosure obligor confirms that the report does not contain any false records, misleading statements, or significant omissions [2]. Group 4: Future Plans - The information disclosure obligor plans to continue increasing its shareholding in the company within the next twelve months [2].
天桥起重: 关于持股5%以上股东增持股份达到5%整数倍的公告
Zheng Quan Zhi Xing· 2025-07-08 13:14
Core Viewpoint - The announcement details the increase in shareholding by Zhuzhou State-owned Assets Investment Holding Group Co., Ltd. in Zhuzhou Tianqiao Crane Co., Ltd., reflecting confidence in the company's future development and long-term investment value [1][2]. Summary by Relevant Sections Shareholding Increase - Zhuzhou State-owned Assets Investment Holding Group Co., Ltd. has increased its shareholding by 1,308.82 million shares, representing 0.92% of the total share capital, bringing its total shareholding to 25.00% [1][2]. - The increase occurred between May 30, 2025, and July 7, 2025, through centralized bidding [1]. Investment Plan - The controlling shareholder had previously announced a plan to increase its shareholding by no less than RMB 75 million and no more than RMB 150 million, with a maximum purchase price of RMB 5.00 per share [1][2]. - The company has confirmed that the increase does not violate any previously disclosed plans or commitments [2]. Compliance and Regulations - The announcement states that the shareholding increase complies with the Securities Law and other relevant regulations, with no violations reported [2].
天桥起重(002523) - 详式权益变动报告书
2025-07-08 13:03
株洲天桥起重机股份有限公司 详式权益变动报告书 上市公司名称:株洲天桥起重机股份有限公司 股票上市地点:深圳证券交易所 股票简称:天桥起重 股票代码:002523 截至本报告书签署之日,除本报告书披露的信息外,信息披露义务人没有通 过任何其他方式在株洲天桥起重机股份有限公司拥有股份权益。 三、信息披露义务人签署本报告书已获得必要的授权和批准,其履行亦不违 反信息披露义务人章程或内部规则中的任何条款,或与之相冲突。 四、本次权益变动是根据本报告所载明的资料进行的。除本信息披露义务人 和所聘请的专业机构外,没有委托或者授权任何其他人提供未在本报告书中列载 的信息和对本报告书做出任何解释或者说明。 五、信息披露义务人承诺本报告书不存在虚假记载、误导性陈述或重大遗漏, 并对其真实性、准确性、完整性承担个别和连带的法律责任。 信息披露义务人:株洲市国有资产投资控股集团有限公司 住所:株洲市天元区神农城森林路 268 号 通讯地址:株洲市天元区神农城森林路 268 号 股份变动性质:增持 签署日期:二〇二五年七月 株洲天桥起重机股份有限公司详式权益变动报告书 信息披露义务人声明 本部分所述的词语或简称与本报告书"释义" ...
天桥起重(002523) - 关于持股5%以上股东增持股份达到5%整数倍的公告
2025-07-08 13:03
株洲天桥起重机股份有限公司 关于持股 5%以上股东增持股份达到 5%整数倍的公告 证券代码:0 0 2 5 2 3 证券简称:天桥起重 公告编号:2025-014 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 株洲天桥起重机股份有限公司(以下简称公司)2025 年 5 月 13 日在巨潮资讯网披 露了《关于控股股东增持公司股份计划暨取得金融机构贷款承诺函的公告》(公告编号: 2025-011),控股股东株洲市国有资产投资控股集团有限公司(以下简称株洲国投)计 划自披露之日起 6 个月内增持股份,计划增持金额不低于人民币 7,500 万元,不高于人 民币 15,000 万元,计划增持价格不超过 5.00 元/股。 公司已收到株洲国投告知函,称其已在 2025 年 5 月 30 日-2025 年 7 月 7 日期间增 持股份 1,308.82 万股,占公司总股本的 0.92%,持股比例已达到 25.00%。现将有关情况 公告如下: | 1.基本情况 | | | | | | --- | --- | --- | --- | --- | | 信息披露义务人 | | 株洲市国有资产投资控股集团有限公 ...
天桥起重(002523) - 国泰海通证券股份有限公司关于株洲市国有资产投资控股集团有限公司详式权益变动报告书之财务顾问核查意见
2025-07-08 13:02
国泰海通证券股份有限公司 关于 株洲市国有资产投资控股集团有限公司 详式权益变动报告书 之 财务顾问核查意见 财务顾问 二〇二五年七月 声明 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司收购 管理办法》《公开发行证券的公司信息披露内容与格式准则第15号——权益变动 报告书》及《公开发行证券的公司信息披露内容与格式准则第16号——上市公司 收购报告书》等法律法规和规范性文件的规定,国泰海通证券股份有限公司(以 下简称"国泰海通"或"本财务顾问")按照行业公认的业务标准、道德规范,本着 诚实信用、勤勉尽责的精神,对本次权益变动的相关情况和资料进行了核查,对 信息披露义务人出具的《详式权益变动报告书》所披露的内容出具核查意见,以 供投资者和有关各方参考。 为此,本财务顾问特作出以下声明: 1、本财务顾问已按照规定履行了尽职调查义务,对信息披露义务人披露的 《详式权益变动报告书》进行了核查,确信披露文件内容与格式符合规定,并有 充分理由确信所发表的专业意见与信息披露义务人披露的文件内容不存在实质 性差异; 2、本财务顾问有充分理由确信本次权益变动符合相关法律、行政法规的规 定,有充分理由确信信息披露 ...
天桥起重(002523) - 2024年度权益分派实施公告
2025-06-24 10:45
2024 年度权益分派实施公告 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。 株洲天桥起重机股份有限公司(以下简称公司)2024 年度权益分派方案已经 2025 年 5 月 21 日召开的 2024 年度股东大会审议并通过,现将权益分派事宜公告如下: 一、股东大会审议通过权益分派情况 1.2024 年度股东大会审议通过权益分派方案:公司以总股本 1,416,640,800 股为基 数,向全体股东每 10 股派 0.15 元人民币现金(含税),合计派发金额 21,249,612 元(含 税)。本次不送红股,不以资本公积转增股本。 2.本次权益分派按照分配总额固定方式,自权益分派方案披露至实施期间公司股 本总额未发生变化。 证券代码:0 0 2 5 2 3 证券简称:天桥起重 公告编号:2025-013 株洲天桥起重机股份有限公司 3.本次实施的权益分派方案与股东大会审议通过的权益分派方案及调整原则一致。 4.本次实施权益分派方案距离股东大会审议通过的时间未超过两个月。 二、本次实施的权益分派方案 1.发放年度:2024 年度。 2.发放范围:股权登记日登记在册 ...