（文章来源：证券日报） 证券日报网讯 9月11日晚间，华阳国际发布公告称，公司于同日召开了2025年第一次职工代表大会，选 举邹展宇先生担任公司第四届董事会职工代表董事。 ...

| 证券代码：002949 | 证券简称：华阳国际 | 公告编号：2025-067 | | --- | --- | --- | | 债券代码：128125 | 债券简称：华阳转债 | | 深圳市华阳国际工程设计股份有限公司 关于非独立董事辞任暨选举职工代表董事的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳市华阳国际工程设计股份有限公司（以下称"公司"）于 2025 年 9 月 11 日召开 2025 年第三次临时股东会，审议通过了《关于修订<公司章程>及相关 议事规则的议案》。根据修订后的《公司章程》，公司董事会设职工代表董事一名。 公司于同日召开了 2025 年第一次职工代表大会，选举邹展宇先生担任公司第四 届董事会职工代表董事，相关情况公告如下： 公司董事会于 2025 年 9 月 11 日收到非独立董事兼副总经理邹展宇递交的书 面辞任报告。基于公司董事会设置要求及公司治理结构优化安排，邹展宇先生申 请辞去公司非独立董事及副总经理职务，辞任后仍在公司担任其他职务。根据《公 司法》《公司章程》等相关规定，邹展宇先生的辞任不会导致公司董事会成员低 ...

| 证券代码：002949 | 证券简称：华阳国际 | 公告编号：2025-066 | | --- | --- | --- | | 债券代码：128125 | 债券简称：华阳转债 | | 深圳市华阳国际工程设计股份有限公司 2025 年第三次临时股东会会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳市华阳国际工程设计股份有限公司（以下简称"公司"）2025 年第三次 临时股东会会议于 2025 年 9 月 11 日采取现场投票和网络投票相结合的方式召开。 一、会议召开时间： 现场会议时间：2025 年 9 月 11 日（星期四）14：30 网络投票时间：2025 年 9 月 11 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 9 月 11 日上午 9:15—9:25，9：30—11:30，下 午 13:00—15:00；通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 9 月 11 日上午 9:15—2025 年 9 月 11 日下午 15:00 期间的任意时间。 二、股权登记日：2025 年 9 ...

广 东 信 达 律 师 事 务 所 关 于 深 圳 市 华 阳 国 际 工 程 设 计 股 份 有 限 公 司 2025 年 第 三 次 临 时 股 东 会 的 法 律 意 见 书 中国 深圳 福田区 益田路 6001 号太平金融大厦 11、12 楼 邮政编码：518038 11F/12F., Taiping Finance Tower, 6001 Yitian Road, Futian District, Shenzhen, P.R. China 518038 电话(Tel.)：(0755) 8826 5288 传真(Fax.)：(0755) 8826 5537 网址（Website）：https://www.sundiallawfirm.com 广东信达律师事务所 关于深圳市华阳国际工程设计股份有限公司 2025年第三次临时股东会的 基于前述，本所律师根据相关法律法规的要求，按照律师行业公认的业务 标准、道德规范和勤勉尽责精神，就本次股东会的相关事项出具法律意见如下： 一、本次股东会的召集和召开程序 法律意见书 致：深圳市华阳国际工程设计股份有限公司 广东信达律师事务所（以下简称"本所"）接受深圳市华阳国 ...

Company Overview - Huayang International has seen a stock price decline of 20.15% year-to-date, with a recent 4.57% increase over the last five trading days [2] - The company specializes in architectural design and related services, including construction consulting and project management [2] - As of June 30, 2025, Huayang International reported a revenue of 601 million yuan, a year-on-year increase of 15.60%, while net profit attributable to shareholders decreased by 40.93% to 34.99 million yuan [2] Financial Performance - The company's stock price was reported at 13.95 yuan per share, with a market capitalization of 2.735 billion yuan [1] - The main revenue sources include public building design (35.23%), residential building design (26.66%), and digital cultural services (18.09%) [2] - Cumulative cash dividends since the A-share listing amount to 510 million yuan, with 284 million yuan distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders increased by 16.53% to 12,600, while the average circulating shares per person decreased by 13.10% to 12,099 shares [2] - The top ten circulating shareholders saw a change, with Penghua High-Quality Growth Mixed A (010490) exiting the list [3]

证券之星消息，9月4日工程咨询服务板块较上一交易日下跌0.93%，华建集团领跌。当日上证指数报收 于3765.88，下跌1.25%。深证成指报收于12118.7，下跌2.83%。工程咨询服务板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603257 | 中国瑞林 | 67.88 | 10.00% | 13.01万 | 8.52亿 | | 301038 | 深水规院 | 31.16 | 8.19% | 19.59万 | 266'5 | | 002949 | 华阳国际 | 13.34 | 4.06% | 7.11万 | 9402.25万 | | 836149 | 旭杰科技 | 15.30 | 3.03% | 2.90万 | 4446.63万 | | 300492 | 类图川谐 | 64.55 | 2.75% | 2.07万 | 1.33亿 | | 300732 | 设研院 | 9.03 | 2.03% | 23.78万 | 2.15亿 | | 833427 | 保健培 | 1 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company achieved a revenue of 601 million yuan in the first half of the year, representing a year-on-year growth of 15.60%. However, the net profit attributable to shareholders decreased by 40.93% to 34.99 million yuan, and the net profit after deducting non-recurring items fell by 44.68% to 30.45 million yuan [2][6]. Summary by Sections Business Performance - The company's main business remains architectural design, generating 410 million yuan in revenue, a decline of 6.17% year-on-year. The prefabricated building segment saw a significant drop of 32.84% to 168 million yuan. In contrast, the engineering general contracting business grew by 81.56% to 17.12 million yuan. The digital culture business generated 109 million yuan, accounting for 18.09% of total revenue, becoming a key driver for revenue growth [12]. Profitability - The overall gross margin for the first half was 24.57%, down by 3.17 percentage points year-on-year. The gross margin for the second quarter was 28.6%, a decrease of 7.2 percentage points. The gross margin for the main architectural design business improved to 38.54%, up by 7.85 percentage points year-on-year. However, the digital culture business reported a negative gross margin of -17.43% due to higher costs [12]. Cost Management - The company successfully reduced its expense ratio to 15.8%, down by 2.6 percentage points year-on-year. The second quarter saw further improvement, with the expense ratio dropping to 13.5%. This reduction was attributed to effective control over the scale of marketing and R&D personnel [12]. Cash Flow and Financial Health - The company experienced a net cash outflow of 180 million yuan from operating activities, an increase of 60 million yuan year-on-year. The cash collection ratio was 72.7%, down by 20.4 percentage points. The asset-liability ratio improved by 2.8 percentage points to 45.6% [12]. Growth Opportunities - Urban renewal policies are expected to provide new growth opportunities in the architectural design sector. The company is also leveraging digitalization and AI technologies to develop new business models, including a BIM engineering laboratory and an online management platform, which are anticipated to drive future revenue growth [12].

Group 1 - The construction industry faced overall pressure in the first half of 2025, with a slight improvement in cash flow in Q2 [6][10][12] - The industry's revenue and profit both declined year-on-year, with total revenue of 3.92 trillion yuan, down 5.63%, and net profit of 936.2 billion yuan, down 5.33% [12][26] - The gross profit margin for construction companies was 10.14%, a slight decrease of 0.12 percentage points year-on-year, while the net profit margin increased marginally to 2.39% [6][10][20] Group 2 - The construction industry saw an increase in cash collection efficiency, with the cash collection ratio rising by 6.29 percentage points to 95.11% [6][31] - The industry's asset-liability ratio increased to 77.52%, up 0.57 percentage points from the beginning of the year, indicating a rise in financial leverage [6][34] - The total amount of funds occupied by downstream owners increased, with accounts receivable and inventory reaching 10.03 trillion yuan, a year-on-year increase of 8.57% [27][30] Group 3 - The chemical engineering and petroleum engineering sectors showed resilience, with positive revenue growth, while the steel structure sector also saw profit recovery due to overseas expansion [11][39][40] - In the first half of 2025, only two sub-sectors, steel structure and chemical engineering, achieved positive revenue growth of 2.81% and 1.33% respectively [39][41] - The gross profit margin for the international engineering and petroleum engineering sectors improved, with international engineering at 15.14%, up 3.26 percentage points [43][44]

Investment Rating - The report maintains an "Optimistic" rating for the construction industry [2][4]. Core Insights - The construction industry faced pressure on revenue and profit in H1 2025, with total revenue of 3.75 trillion, down 5.7% year-on-year, and net profit of 87.5 billion, down 6.5% year-on-year [2][7]. - The industry experienced a relative stability in gross margin and net margin, with a gross margin of 9.9% and a net margin of 2.33% in H1 2025 [8][19]. - Operating cash flow showed improvement, with a net cash flow of -477.4 billion, a reduction in outflow by 15.1 billion year-on-year [3][12]. - The industry’s return on equity (ROE) decreased by 0.31 percentage points to 2.50% in H1 2025, indicating pressure on profitability [16][27]. Summary by Sections Financial Overview - In H1 2025, major listed companies in the construction industry reported revenues of 3.75 trillion, a decrease of 5.7% year-on-year, and net profits of 87.5 billion, down 6.5% year-on-year [2][7]. - Quarterly revenues for Q1 and Q2 were 1.84 trillion and 1.91 trillion, respectively, with year-on-year declines of 6.2% and 5.2% [2][7]. Profitability Analysis - The industry maintained a gross margin of 9.9%, a slight decrease of 0.2 percentage points year-on-year, and a net margin of 2.33%, down 0.02 percentage points [8][19]. - The ROE for the industry decreased to 2.50%, reflecting the impact of reduced investment and increased costs [16][27]. Cash Flow Improvement - The operating cash flow net amount was -477.4 billion, showing an improvement with a reduction in cash outflow by 15.1 billion year-on-year [3][12]. - The cash collection ratio improved to 103% in Q1 and 87% in Q2, with year-on-year changes of +0.85 percentage points and +11.65 percentage points, respectively [3][12]. Market Dynamics - The report highlights a shift in focus from growth to quality improvement among state-owned enterprises, with an emphasis on cash flow management and cost control [4][19]. - The construction industry is expected to see a recovery in revenue and cash flow in the second half of 2025, driven by anticipated government investment stimulus [4][19].

证券日报网讯 9月1日晚间，华阳国际发布公告称，公司第四届董事会第十次会议审议通过了《关于向 下修正"华阳转债"转股价格的议案》。 （文章来源：证券日报） ...