Core Viewpoint - Chengdu Road and Bridge (002628) announced on September 18 that its main assets consist of accounts receivable, contract assets, and long-term receivables, with a focus on ensuring operational funding and stable cash flow [1] Group 1 - The company reported a total collection amount of 436 million yuan in the first half of the year [1] - The majority of the company's existing accounts receivable are concentrated in the Sichuan region [1] - The company is committed to actively promoting project collections to safeguard operational funds [1]

Core Viewpoint - Chengdu Road and Bridge (002628) is focusing on solidifying its core infrastructure business by prioritizing order acquisition, business expansion, and market development [1] Group 1: Company Performance - In the first half of 2025, the total amount of contracts won by the company (including subsidiaries) reached approximately 952 million, representing a year-on-year increase of 98.68% [1] - The parent company secured four traditional infrastructure projects, amounting to about 883 million, with major regions including Xinjiang and Sichuan [1] - The subsidiaries collectively won contracts worth approximately 69 million [1]

对于公司资产构成及存量应收账款区域分布问题，公司虽未在此次公告中详细阐述，但强调了对运营资 金安全和现金流稳定的重视。 在应收账款回款方面，自2024年中央出台相关政策支持地方化解债务风险后，对建筑企业应收账款回收 起到积极作用。公司应收账款多为政府、国企、地方平台公司的应付工程款，若能加速收回，坏账计提 有望冲回，增厚公司利润，改善财务状况。2025年上半年，公司在化债政策支持下，通过各方努力收到 信托分配资金1.12亿元，对本期税前利润产生积极影响。 智能技术合作与矿业投资布局 9月16日，成都市路桥工程股份有限公司迎来林锐基金、变力投资等8家机构及相关个人投资者的特定对 象调研。此次调研于当日15:30 - 17:00在成都市武侯区天府大道北段1777号中国太平金融大厦37楼举 行，公司董事会秘书陈丽竹、证券事务代表杨天天等相关人员参与接待。 订单规模显著增长 在调研中，关于公司2025年新增订单规模的问题备受关注。公司方面表示，持续夯实路桥基建主业，全 力推进"抓订单、抢业务、拓市场"工作。2025年上半年，公司（含分子公司）中标总金额合计约9.52亿 元，较去年同期增长98.68%。其中，母公司中标 ...

Group 1: Company Performance and Financials - In the first half of 2025, the company secured a total bid amount of approximately 9.52 billion CNY, representing a year-on-year increase of 98.68% [2] - The parent company won 4 traditional infrastructure projects with a total value of about 8.83 billion CNY, primarily located in Xinjiang and Sichuan [2] - The company collected a total of 4.36 billion CNY in receivables during the first half of the year, with a significant portion concentrated in the Sichuan region [3] - The company received 1.12 billion CNY from trust distribution funds in the first half of 2025, positively impacting pre-tax profits [3] Group 2: Accounts Receivable and Debt Management - A majority of the company's accounts receivable are from government, state-owned enterprises, and local platform companies, which are expected to benefit from recent debt resolution policies [3] - The implementation of central government policies aimed at alleviating local debt risks is anticipated to enhance the recovery of accounts receivable for construction companies [3] Group 3: Strategic Partnerships and Investments - The company has established a joint venture with Shenzhen UBTECH Robotics Corp. to focus on the application of intelligent robots and AI technology in civil aviation and transportation sectors [3] - The joint venture aims to provide sales and services for autonomous driving and robotics solutions, including customized design and delivery for specific scenarios [3] Group 4: Mining Projects and Future Revenue - The company has acquired mining rights for one fluorite mine and one lead-zinc mine, with the fluorite mine having a production capacity of 150,000 tons per year [3] - The lead-zinc mine's mining rights have expired, and the company is working on obtaining safety production permits for the fluorite mine [3] - The timeline for generating revenue and profits from these mining projects remains uncertain [3]

Group 1 - The infrastructure sector increased by 0.42% on September 15, with Garden Co. leading the gains [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] - Key stocks in the infrastructure sector showed significant gains, with Garden Co. rising by 10.01% to a closing price of 18.79 [1] Group 2 - Major stocks in the infrastructure sector experienced mixed performance, with some stocks like Huylv Ecological and Nongshang Environment declining by 8.13% and 4.67% respectively [2] - The infrastructure sector saw a net outflow of 293 million yuan from institutional investors, while retail investors contributed a net inflow of 190 million yuan [2][3] - The top stocks by net inflow included Construction Co. with 93.48 million yuan and Eastern Garden with 67.06 million yuan [3]

Core Viewpoint - Chengdu Road and Bridge Engineering Co., Ltd. held an online performance briefing on September 12, 2025, addressing various investor inquiries regarding stock price, payment collection, restructuring, and valuation enhancement [1][2]. Group 1: Stock Performance and Market Confidence - The company's stock price has increased by approximately 7.51% since the beginning of the year, influenced by macroeconomic conditions and fluctuations in the secondary market. The company aims to strengthen its core business competitiveness, diversify its business areas, enhance financial management, optimize asset structure, and improve investor returns to boost market confidence [3]. Group 2: Financial Performance and Future Goals - The company indicated that due to macroeconomic downturns, revenue decline, delayed project payments, and losses from trust investments, it will focus on securing orders and increasing revenue from multiple business segments in 2025, with the goal of achieving profitability. The final results will be disclosed in the company's announcements [3]. Group 3: Restructuring and Strategic Planning - The management will develop strategic plans based on market and industry trends, and will carefully evaluate any high-quality targets and cooperation opportunities that align with its development strategy, ensuring timely information disclosure as required [3]. Group 4: Valuation Enhancement and Business Development - The company is implementing a phased approach to its valuation enhancement plan, which will be aligned with operational conditions. It is currently focused on securing main business orders, upgrading technical qualifications, and expanding into diversified business areas [3]. Group 5: Business Expansion and Strategic Partnerships - The company’s wholly-owned subsidiary, Sichuan Chenglu Zhihui Technology Co., Ltd., has jointly established Jincheng Zhixing (Chengdu) Intelligent Technology Co., Ltd. with Shenzhen Youbixun Technology Co., Ltd. The company is actively seeking orders and expanding its market presence, with a total bid amount of approximately 952 million yuan in the first half of 2025, representing a 98.68% increase year-on-year. Additionally, it is strategically extending into various fields through partnerships and cash acquisitions [4].

Group 1: Company Performance and Financial Outlook - The company's stock price has increased by approximately 7.51% since the beginning of the year, influenced by macroeconomic conditions and market fluctuations [1] - The company aims to improve its financial performance by enhancing core business competitiveness, diversifying operations, and optimizing asset structure [1] - The company reported a significant increase in the total amount of contracts won in the first half of 2025, totaling approximately 952 million yuan, which represents a 98.68% increase compared to the same period last year [2] Group 2: Strategic Initiatives and Business Development - The company is focused on seizing orders and increasing revenue across multiple business segments to achieve profitability in 2025 [2] - A strategic partnership has been established with Shenzhen Youbixuan Technology Co., Ltd. and other parties to set up a joint venture in intelligent technology [2] - The company is actively pursuing market expansion and has extended its strategic focus to various fields, including rural revitalization projects and resource acquisition [2] Group 3: Investor Relations and Communication - The company is committed to timely information disclosure regarding any significant strategic developments or partnerships [2] - The management is evaluating potential restructuring opportunities based on market and industry trends [2] - The company has a valuation enhancement plan that is being implemented in phases, with ongoing measures to capture main business orders and upgrade technical qualifications [2]

Group 1 - The core viewpoint of the news is that Chengdu Road and Bridge experienced a decline in stock price and trading volume, with significant changes in financing and shareholder structure [1][2] - As of September 9, Chengdu Road and Bridge's stock price fell by 0.41%, with a trading volume of 62.99 million yuan, and a net financing outflow of 1.87 million yuan [1] - The company's financing balance reached 165 million yuan, accounting for 4.47% of its market capitalization, indicating a high level of financing activity compared to the past year [1] Group 2 - As of June 30, the number of shareholders for Chengdu Road and Bridge decreased by 16.27% to 66,800, while the average circulating shares per person increased by 19.39% to 11,284 shares [2] - For the first half of 2025, Chengdu Road and Bridge reported operating revenue of 334 million yuan, a year-on-year decrease of 9.79%, and a net profit attributable to shareholders of -22.64 million yuan, an increase of 18.79% year-on-year [2] Group 3 - Since its A-share listing, Chengdu Road and Bridge has distributed a total of 249 million yuan in dividends, with 17.41 million yuan distributed over the past three years [3]

为进一步加强与投资者的互动交流，成都市路桥工程股份有限公司（以下简称"公 司"）将参加由四川省上市公司协会、深圳市全景网络有限公司联合举办的"四川辖区 2025年投资者网上集体接待日及半年度报告业绩说明会"活动，现将相关事项公告如 下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"（https://rs.p5w.net） 参与本次互动交流，活动时间为2025年9月12日（周五）14:00—17:00。届时公司董事 长林晓晴女士、财务总监程宝平先生、董事会秘书陈丽竹女士将在线就公司2025年半 年度业绩、公司治理、发展战略、经营状况、融资计划和可持续发展等投资者关心的 问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告。 成都市路桥工程股份有限公司董事会 证券代码：002628 证券简称：成都路桥 公告编号：2025-044 成都市路桥工程股份有限公司 关于参加四川辖区 2025 年投资者网上集体接待日及半年度报告 业绩说明会活动的公告 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。 二〇二五年九月九日 ...

Core Viewpoint - Chengdu Road and Bridge (002628) reported a decline in total revenue for the first half of 2025, while showing an improvement in net profit margin despite still being in the negative [1] Financial Performance Summary - Total revenue for the first half of 2025 was 334 million yuan, a decrease of 9.79% year-on-year [1] - Net profit attributable to shareholders was -22.64 million yuan, an increase of 18.79% year-on-year [1] - In Q2 2025, total revenue was 215 million yuan, an increase of 3.76% year-on-year [1] - Q2 2025 net profit attributable to shareholders was -26.78 million yuan, an increase of 14.82% year-on-year [1] - Gross margin improved to 9.44%, a year-on-year increase of 126.85% [1] - Net margin was -6.6%, a year-on-year increase of 10.7% [1] - Earnings per share improved to -0.03 yuan, a year-on-year increase of 25% [1] Cash Flow and Debt Analysis - Cash and cash equivalents increased significantly by 97.43% year-on-year, reaching 166 million yuan [1] - The company’s receivables increased by 20.24% year-on-year, totaling 1.303 billion yuan [1] - Interest-bearing liabilities decreased by 4.93% year-on-year, amounting to 1.466 billion yuan [1] - Cash flow from operations per share remained at -0.02 yuan, a decrease of 20.34% year-on-year [1] Historical Performance Insights - The company has shown weak historical performance with a median ROIC of 2.07% over the past decade [3] - The worst year for ROIC was 2024, with a value of -0.08% [3] - The company has reported a loss in one of the 13 annual reports since its listing, indicating a need for further investigation into underlying causes [3]