Group 1 - The core viewpoint of the news is that Honglu Steel Structure has seen a stock price increase of 5.09%, reaching 21.06 CNY per share, with a trading volume of 1.89 billion CNY and a turnover rate of 1.87%, resulting in a total market capitalization of 145.32 billion CNY [1] - Honglu Steel Structure, established on September 19, 2002, and listed on January 18, 2011, is primarily engaged in steel structure manufacturing and sales, green building materials production and sales, and general contracting for steel structure assembly buildings [1] - The company's main business revenue composition includes H-shaped steel structures (55.06%), box-type cross structures (18.89%), secondary structures (12.85%), pipe-type structures (6.25%), truss structures (3.86%), and others (3.08%) [1] Group 2 - From the perspective of major fund holdings, one fund under Rongtong Fund has a significant position in Honglu Steel Structure, with Rongtong Steady Growth 6-Month Holding Mixed A (013985) holding 25,000 shares, accounting for 0.9% of the fund's net value, ranking as the fifth-largest holding [2] - The fund has a total scale of 52.52 million CNY, with a year-to-date return of 1.51%, ranking 6973 out of 8848 in its category, and a one-year return of 4.03%, ranking 7443 out of 8093 [2] - The fund managers, Fan Xin and Li Ke, have different tenures and performance records, with Fan Xin managing assets totaling 2.08 billion CNY and achieving a best return of 13.91% during his tenure, while Li Ke manages 1.516 billion CNY with a best return of 8.02% [2]

Core Viewpoint - Honglu Steel Structure's stock has shown a significant increase of 24.39% year-to-date, despite a recent decline of 3.95% over the last five trading days, indicating volatility in its performance [1][2]. Group 1: Stock Performance - As of January 20, Honglu Steel Structure's stock price reached 20.45 CNY per share, with a market capitalization of 14.11 billion CNY [1]. - The stock has experienced a trading volume of 1.09 million CNY, with a turnover rate of 1.09% [1]. - The company has seen a net inflow of main funds amounting to 145.75 thousand CNY, with significant buying and selling activities from large orders [1]. Group 2: Financial Performance - For the period from January to September 2025, Honglu Steel Structure reported a revenue of 15.917 billion CNY, reflecting a year-on-year growth of 0.19% [2]. - The net profit attributable to shareholders was 496 million CNY, which represents a decrease of 24.29% compared to the previous year [2]. Group 3: Shareholder Information - As of November 28, the number of shareholders for Honglu Steel Structure increased by 5.80% to 16,400 [2]. - The average number of tradable shares per shareholder decreased by 5.48% to 30,303 shares [2]. - The company has distributed a total of 1.365 billion CNY in dividends since its A-share listing, with 784 million CNY distributed in the last three years [3]. Group 4: Institutional Holdings - As of September 30, 2025, the top ten circulating shareholders include various funds, with notable changes in holdings among them [3]. - The third-largest shareholder, Zhonggeng Value Pioneer Stock, reduced its holdings by 3.2777 million shares, while other funds like Zhonggeng Value Leading Mixed Fund increased their holdings slightly [3].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码:002541 证券简称:鸿路钢构 公告编号:2026-007 债券代码:128134 债券简称:鸿路转债 4、转股期限：2021年4月15日至2026年10月8日 5、自2025年12月22日至2026年1月13日期间，公司股票已有十五个交易日的收盘价低于当期转股价格 （即32.08元/股）的85%（即27.27元/股）的情形，已触发"鸿路转债"转股价格的向下修正条款。 6、2026年1月13日，公司召开第六届董事会第三十二次会议，审议通过了《关于不向下修正"鸿路转 债"转股价格的议案》，公司董事会决定本次不向下修正"鸿路转债"转股价格。自本次董事会审议通过 后的次一交易日（即2026 年1月14日）重新起算，若再次触发"鸿路转债"转股价格向下修正条款，届时 公司董事会将再次召开会议决定是否行使"鸿路转债"转股价格的向下修正权利。 安徽鸿路钢结构(集团)股份有限公司 关于不向下修正"鸿路转债"转股价格的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 特别提示 1、证券代码：002541 证券简称 ...

证券日报网讯 1月13日，鸿路钢构发布公告称，公司第六届董事会第三十二次会议审议通过《关于不向 下修正"鸿路转债"转股价格的议案》。 （文章来源：证券日报） ...

| 证券代码:002541 | 证券简称:鸿路钢构 | 公告编号:2026-007 | | --- | --- | --- | | 债券代码:128134 | 债券简称:鸿路转债 | | 安徽鸿路钢结构(集团)股份有限公司 关于不向下修正"鸿路转债"转股价格的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示 1、证券代码：002541 证券简称：鸿路钢构 2、债券代码：128134 债券简称：鸿路转债 3、转股价格：人民币 32.08 元/股 一、可转换公司债券发行上市概况 1、可转换公司债券发行情况 经中国证券监督管理委员会"证监许可[2020]1983 号"文核准，安徽鸿路 钢结构（集团）股份有限公司（以下简称"公司"）于 2020 年 10 月 9 日公开发 行了 1,880 万张可转换公司债券，每张面值为人民币 100 元，发行总额 18.80 亿元，期限六年。 2、可转换公司债券上市情况 经深圳证券交易所"深证上[2020]971号"文同意，公司本次公开发行的可 转换公司债券于2020年11月2日在深圳证券交易所挂牌交易，债券简称"鸿路 ...

证券代码：002541 证券简称：鸿路钢构 公告编号：2026-006 债券代码：128134 债券简称：鸿路转债 安徽鸿路钢结构（集团）股份有限公司 特此公告。 安徽鸿路钢结构（集团）股份有限公司 董事会 安徽鸿路钢结构（集团）股份有限公司（以下简称"公司"）第六届董事会第三十二 次会议于 2026 年 1 月 8 日以送达方式发出，并于 2026 年 1 月 13 日在公司会议室以现场 的方式召开。会议应出席董事 5 人，实际出席董事 5 人，符合召开董事会会议的法定人数。 会议由董事长万胜平先生主持，公司高级管理人员列席了会议。本次会议的召集、召开符 合《公司法》和《公司章程》的有关规定，出席会议的董事以书面表决的方式通过了以下 决议，决议合法有效。 二、董事会会议审议情况 会议经过审议并表决，形成决议如下： （一）、会议以 5 票同意，0 票反对，0 票弃权，审议通过了《关于不向下修正"鸿路 转债"转股价格的议案》。 《关于不向下修正"鸿路转债"转股价格的公告》（公告编号：2026-007），详见公司指 定信息披露媒体《证券时报》、《中国证券报》、《上海证券报》、《证券日报》和巨潮资讯 （http:/ ...

Core Viewpoint - Honglu Steel Structure (002541.SZ) is expected to deliver a stable operational performance in 2025, characterized by increased volume and steady orders, driven by its ongoing smart transformation efforts [1][2]. Group 1: Sales and Production Performance - In 2025, Honglu Steel Structure signed new sales contracts totaling approximately 29.102 billion yuan, reflecting a slight year-on-year increase of 2.84% [1][2]. - The company's steel structure product output reached 5.0207 million tons in 2025, marking a significant year-on-year growth of 11.30%, with fourth-quarter production alone at 1.4105 million tons [1][2]. - By the end of 2024, the annual production capacity of steel structures is expected to increase to 5.2 million tons, consolidating its manufacturing advantages and steadily increasing market share [2]. Group 2: Smart Transformation and R&D Investment - Honglu Steel Structure has invested approximately 3 billion yuan in R&D from 2021 to the first three quarters of 2025, focusing on smart upgrades of production lines [3][4]. - The company has implemented nearly 2,000 lightweight welding robots and ground rail welding workstations across its ten major manufacturing bases, enhancing production efficiency and product stability [3]. - A strategic partnership with Qianjiang Robot, a subsidiary of Aishida, has been established to accelerate smart transformation through collaborative R&D and procurement of intelligent equipment [4][5]. Group 3: Future Outlook - The dual approach of "independent R&D + external collaboration" is expected to strengthen Honglu Steel Structure's core competitiveness, with anticipated improvements in capacity utilization, production costs, and product quality [5]. - The ongoing smart transformation is projected to yield continuous benefits, supported by demand in manufacturing, infrastructure, and public construction sectors [5].

Core Viewpoint - Honglu Steel Structure, a leading player in the steel structure industry, is expected to deliver a stable operational performance in 2025, with a focus on increasing volume and steady orders [1][2]. Group 1: Sales and Production Performance - The company reported a total new signed sales contract amount of approximately 29.102 billion yuan in 2025, reflecting a slight year-on-year increase of 2.84% [2]. - In the fourth quarter, new signed contracts reached 6.835 billion yuan, all of which were material orders, indicating a more focused order structure on core business [2]. - The total production of steel structure products reached 5.0207 million tons, a significant year-on-year increase of 11.30%, with fourth-quarter production alone at 1.4105 million tons [2][3]. Group 2: Strategic Initiatives and Investments - The company has invested approximately 3 billion yuan in research and development over the past five years, focusing on intelligent upgrades in production lines [3][4]. - A strategic partnership with Qianjiang Robot has been established to enhance the company's competitive edge through a dual approach of self-research and collaboration [4][5]. - The partnership includes a framework cooperation agreement for equipment procurement and technology development, allowing for mutual benefits and resource integration [4][5]. Group 3: Future Outlook and Competitive Advantage - The company aims to further enhance production capacity utilization, reduce production costs, and improve product quality through ongoing intelligent transformation efforts [5]. - The long-term value of intelligent transformation is expected to become increasingly evident, supported by downstream demand in manufacturing, infrastructure, and public construction [5].

Investment Rating - Investment Rating: Positive (Maintained) [5] Core Views - The report suggests actively monitoring the business progress of Honglu Steel Structure and China National Materials International. Honglu Steel Structure's Q4 2025 production reached 1.41 million tons, up 11.94% year-on-year, with an annual production of 5.021 million tons, reflecting a 11.3% increase. The capacity utilization rate is approximately 96.55%, indicating a significant improvement from 2024, suggesting the company has entered a high-efficiency operational phase. The introduction of nearly 2,500 welding robots and supporting smart production lines is expected to enhance production efficiency and actual effective capacity. Additionally, the company has improved its overseas certification system, which may become a new growth point in the medium to long term. China National Materials International has maintained the world's leading market share in cement engineering for 17 consecutive years, with overseas markets being the primary source of business. In the first three quarters of 2025, the company signed new overseas orders worth 41.304 billion yuan, a year-on-year increase of 36.75%, indicating a high level of overseas order activity, providing a solid foundation for future business development. The company has also committed to a stable cash dividend policy, with a payout ratio of no less than 40% of the distributable profits for 2024-2026, enhancing its investment attractiveness [4][6][13][15]. Industry Performance - Recent data indicates that infrastructure and livelihood security construction in China continues to progress steadily. As of January 5, 2026, the high-speed railway network covers approximately 97.2% of cities with populations over 500,000, with operational mileage exceeding 50,000 kilometers, projected to grow by 32.98% during the 14th Five-Year Plan. Local governments are increasing efforts in affordable housing construction, with significant projects completed in regions like Xinjiang and Beijing. The national water network construction is accelerating, with 181 major water conservancy projects initiated during the 14th Five-Year Plan, with total investments reaching 5.68 trillion yuan [7][24][26]. Infrastructure Data Tracking - New special bonds issued this week amounted to 87.434 billion yuan, with a cumulative issuance of 1019.34 billion yuan as of January 11, 2026. The issuance of urban investment bonds this week was 90.859 billion yuan, with a net financing amount of 28.226 billion yuan, and a cumulative net financing amount of 19.408 billion yuan, reflecting a year-on-year increase of 30.98% [8][40]. Market Review - The Shanghai Composite Index rose by 3.82%, the Shenzhen Component Index by 4.40%, and the ChiNext Index by 3.89% this week. The Shenwan Construction Decoration Index increased by 5.72%, with other professional engineering, steel structure, and landscaping engineering sectors leading the gains at +16.91%, +11.93%, and +7.34%, respectively. A total of 142 stocks in the construction sector rose, with the top five performers being Zhite New Materials (+148.84%), China Nuclear Construction (+34.50%), Yaxiang Integration (+31.41%), Nongshang Environment (+30.90%), and *ST Tianlong (+28.95%) [9][32].

Core Viewpoint - Honglu Steel Structure reported positive operational performance for 2025, with significant production and sales growth, while actively pursuing smart manufacturing upgrades to enhance capacity and product quality [1][9]. Group 1: Production and Sales Performance - In 2025, the company produced approximately 5.02 million tons of steel structure products, representing an 11.30% increase year-on-year [1][9]. - The total new signed sales contracts amounted to approximately 29.10 billion yuan, reflecting a year-on-year growth of 2.84% [1][9]. - The company currently has a saturated order book and normal production operations [1][9]. Group 2: Smart Manufacturing Initiatives - The company is advancing its smart manufacturing initiatives, having introduced various advanced equipment such as intelligent laser cutting machines and welding robots [1][5]. - Approximately 3,000 self-developed and integrated welding robot workstations have been deployed across ten production bases [5][6]. - The "Honglu Master Riveting Detection Robot" has been introduced in limited quantities to enhance production quality [5][6]. Group 3: Capacity and Market Strategy - The total production capacity for steel structure products reached 5.20 million tons in 2025, with a focus on optimizing management processes to strengthen core competitiveness [1][7]. - The company has been gradually increasing its indirect export business, primarily serving domestic clients, while considering future overseas market expansion based on demand [1][7]. Group 4: Pricing and Financial Management - The pricing model for product sales is based on "material cost + processing fee," with a focus on improving product quality and service delivery to enhance customer satisfaction [2][7]. - The company is evaluating the potential adjustment of convertible bond conversion prices based on its operational status, macroeconomic conditions, and stock price trends [2][8].