Investment Rating - The industry investment rating is "Overweight" [2][25]. Core Insights - Fixed asset investment in China showed a cumulative year-on-year decline of 2.6% from January to November 2025, with manufacturing investment increasing by 1.9% [2][3]. - Traditional infrastructure investment has seen a widening decline, necessitating a stabilization of investment. Infrastructure investment (including all categories) grew by only 0.1% year-on-year, a decrease of 1.4 percentage points compared to the previous month [4][3]. - Real estate investment remains low, with a year-on-year decline of 15.9% from January to November 2025, indicating a weak recovery trajectory [11][3]. Summary by Sections Fixed Asset Investment - The cumulative year-on-year decline in fixed asset investment is 2.6%, with a decrease of 0.9 percentage points from the previous month [3]. - Manufacturing investment has increased by 1.9%, but this is still a decline of 0.8 percentage points compared to the previous month [2]. Infrastructure Investment - Infrastructure investment (excluding electricity) has a year-on-year decline of 1.1%, with a decrease of 1.0 percentage points from the previous month [4]. - Specific sectors such as transportation, storage, and postal services saw a decline of 0.1%, while water, environment, and public facilities management experienced a decline of 6.3% [4]. Regional Investment Trends - Eastern regions reported a year-on-year decline of 6.6%, while central and western regions saw declines of 1.7% and 0.2%, respectively. The northeastern region faced a significant decline of 14.0% [4]. Real Estate Investment - Real estate investment has decreased by 15.9% year-on-year, with construction starts down by 20.5% and completions down by 18.0% [11]. - The current cycle is characterized by excessive clearing of supply entities and difficulties in inventory replenishment, leading to a slow recovery in investment [11]. Investment Recommendations - For 2026, the industry is expected to stabilize, with emerging sectors likely to benefit from major national strategies. Key companies to watch include Sichuan Road and Bridge, China Chemical, and others in new infrastructure and overseas markets [16].

Investment Rating - The report maintains an "Overweight" rating for the industry, indicating a positive outlook for investment opportunities in the sector [1]. Core Insights - Fixed asset investment growth in China has further declined, with a cumulative year-on-year decrease of 2.6% for January to November 2025, a drop of 0.9 percentage points compared to the previous period [2][3]. - Traditional infrastructure investment has seen an expanded decline, necessitating measures to stabilize investment. Infrastructure investment (including all categories) grew by only 0.1% year-on-year, down 1.4 percentage points from the previous month [4]. - Real estate investment remains low, with a year-on-year decrease of 15.9% for January to November 2025, indicating a weak recovery trajectory [11]. Summary by Sections Fixed Asset Investment - The cumulative year-on-year growth rate for fixed asset investment is -2.6%, with manufacturing investment showing a slight increase of 1.9% [2][3]. - The decline in traditional infrastructure investment has intensified, with significant drops in various sectors, including transportation and public facilities [4]. Infrastructure Investment - Infrastructure investment (excluding electricity) has decreased by 1.1% year-on-year, with notable declines in transportation and environmental management sectors [4]. - Regional investment disparities are evident, with the eastern region experiencing a 6.6% decline year-on-year [4]. Real Estate Investment - Real estate investment has decreased by 15.9% year-on-year, with construction starts down by 20.5% and completions down by 18.0% [11]. - The report anticipates a slow recovery in real estate investment due to challenges in inventory replenishment and supply chain issues [11]. Investment Recommendations - The report suggests that in 2026, industry investment is expected to stabilize, with emerging sectors likely to benefit from national strategic initiatives [15]. - Specific companies are highlighted for potential investment, including Sichuan Road and Bridge, China Chemical, and others in the new infrastructure and overseas markets [15].

格隆汇12月9日丨新疆交建(002941.SZ)在投资者互动平台表示，截至目前，公司仍持有成都国星宇航科 技股份有限公司的股权。 ...

Group 1 - The company, Xinjiang Jiaojian (002941.SZ), currently holds shares in Chengdu Guoxing Aerospace Technology Co., Ltd. [1]

证券代码：002941 证券简称：新疆交建 公告编号：2025-106 （一）会议召开情况： 1.会议召开时间： （1）现场会议时间:2025年12月8日（星期一）北京时间15：00 （2）网络投票时间:2025年12月8日，其中，通过深圳证券交易所交易系统 进行网络投票的具体时间为:2025年12月8日上午9:15分至9:25，上午9:30分至 11:30，下午13:00至15:00；通过深圳证券交易所互联网投票的具体时间为:2025 年12月8日上午9:15分至下午15:00期间的任意时间。 新疆交通建设集团股份有限公司 2025 年第三次临时股东会决议公告 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。 特别提示： 1.本次股东会未出现否决提案的情形。 2.本次股东会未涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 2.会议召开地点：新疆乌鲁木齐市高新技术产业开发区（新市区）乌昌路辅 道840号新疆交通建设集团股份有限公司科研楼二楼会议室。 5.会议主持人：公司董事长王彤先生。 3.会议召开方式：本次股东会采用现场投票与网络投票相结合的方式。 ...

国浩律师(乌鲁木齐)事务所 股东大会法律意见书 国浩律师(乌鲁木齐)事务所 关于新疆交通建设集团股份有限公司 二 0 二五年第三次临时股东会 法律意见书 國浩律師事務所 GRANDALL LAW FIRM 北京 · 上海 · 深圳 · 广州 · 昆明 · 天津 · 成都 · 宁波 · 福州 · 西安 · 南京 · 南宁 · 济南 · 重庆 · 苏州 · 长沙 · 太原 · 武汉 · 贵阳 · 乌鲁木齐 · 香港 · 硅谷 新疆乌鲁木齐经济技术开发区云台山街 499 号盛达广场 15 层 邮编: 83000 电话:(+86)(991) 3070688 传真: (+86)(991)3070288 网址:http://www.grandall.com.cn 1 国浩律师(乌鲁木齐)事务所 (1) 本次临时股东会现场会议于 2025年 12月 8 日下午 15:00 在新疆乌鲁 木齐市新市区乌昌路辅道 840 号新疆交建科研楼二层会议室如期召开。 (2) 本次临时股东会通过深圳证券交易所交易系统和互联网投票系统为公 司股东提供了网络投票平台。 股东大会法律意见书 国浩律师(乌鲁木齐)事务所 关于新疆交通建设集团股份有 ...

（文章来源：证券日报） 证券日报网讯 12月3日，新疆交建在互动平台回答投资者提问时表示，截至2025年11月28日公司股东户 数为92143户。 ...

Core Viewpoint - The company has approved the temporary use of idle raised funds to supplement its working capital, amounting to no more than 264.10 million yuan, for a period not exceeding 12 months, ensuring compliance with relevant regulations and maintaining shareholder interests [3][10][12]. Group 1: Board Meeting Details - The fourth extraordinary meeting of the board of directors was held on December 2, 2025, with all nine directors present, confirming the meeting's legality and effectiveness [2]. - The board unanimously approved the proposal to use idle raised funds for working capital, with a voting result of 9 in favor, 0 against, and 0 abstentions [4]. Group 2: Fund Usage and Management - The company plans to use up to 264.10 million yuan of idle raised funds temporarily to enhance liquidity, with a commitment to return the funds to the designated account within 12 months [3][10]. - As of November 27, 2025, the balance of the special account for raised funds was 264.10 million yuan, including net interest received [8]. - The company previously used 208.84 million yuan of idle funds for working capital, which has been fully returned to the designated account [9]. Group 3: Financial Implications - The temporary use of idle funds is expected to save approximately 7.92 million yuan in financial costs by reducing bank borrowing [11]. - The company assures that the use of these funds will not affect the normal progress of investment projects and will not involve high-risk investments [10][12]. Group 4: Compliance and Oversight - The board and the audit committee have confirmed that the decision to use idle funds complies with relevant regulations and does not harm shareholder interests [13][14]. - The sponsor institution has expressed no objections to the proposal, affirming that it aligns with the company's operational needs and regulatory requirements [15].

长江证券承销保荐有限公司 关于新疆交通建设集团股份有限公司 使用闲置募集资金临时补充公司流动资金的核查意见 长江证券承销保荐有限公司（以下简称"长江保荐"或"保荐机构"）作为 新疆交通建设集团股份有限公司（以下简称"新疆交建"、"公司"）持续督导阶 段的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司募集资金监 管规则》《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指 引第 1 号——主板上市公司规范运作》等有关规定的要求，对公司使用闲置募集 资金临时补充公司流动资金事项进行了审慎核查。现将核查情况说明如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准新疆交通建设集团股份有限公司公开 发行可转换公司债券的批复》（证监许可[2020]1718 号）核准，公司于 2020 年 9 月 15 日向社会公开发行 850 万张可转换公司债券，每张面值为人民币 100 元， 发行总额为人民币 8.50 亿元，期限 6 年。本次发行可转换公司债券实际募集资 金 850,000,000.00 元，扣除承销及保荐费 14,636,792.45 元（不含税），另减除律 师费、审计及验资费、和 ...

新疆交通建设集团股份有限公司 关于使用闲置募集资金临时补充公司流动资金的公告 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。 新疆交通建设集团股份有限公司（以下简称"公司"）于 2025 年 12 月 2 日召开了第四届董事会第二十八次临时会议，审议通过了《关于使用闲置募集资 金临时补充公司流动资金的议案》，同意公司使用不超过 26,410.00 万元的闲置 募集资金暂时补充流动资金，使用期限不超过 12 个月，自公司董事会批准之后 具体使用之日起计算，到期归还至募集资金专用账户。现将相关事宜公告如下： 一、募集资金基本情况 证券代码：002941 证券简称：新疆交建 公告编号：2025-105 经中国证券监督管理委员会《关于核准新疆交通建设集团股份有限公司公开 发行可转换公司债券的批复》（证监许可[2020]1718 号）核准，公司于 2020 年 9 月 21 日向社会公开发行 850 万张可转换公司债券，每张面值为人民币 100 元， 发行总额为人民币 8.50 亿元，期限 6 年。本次发行可转换公司债券实际募集资 金 850,000,000.00 元， ...