资金流向方面，今日该股主力资金净流出4041.31万元，其中，特大单净流出3820.15万元，大单资金净 流出221.17万元。近5日主力资金净流出2.45亿元。（数据宝） 中岩大地7月25日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 深股通专用 | 4041.54 | 6780.42 | | 买二 | 中泰证券股份有限公司西南分公司 | 910.30 | 451.16 | | 买三 | 机构专用 | 850.60 | 0.00 | | 买四 | 上海证券有限责任公司绍兴新昌康福路证券营业部 | 849.85 | 161.50 | | 买五 | 机构专用 | 773.96 | 2051.75 | | 卖一 | 深股通专用 | 4041.54 | 6780.42 | | 卖二 | 方正证券股份有限公司四川分公司 | 13.08 | 2200.09 | | 卖三 | 机构专用 | 773.96 | 2051.75 | | 卖四 | 华泰证券股份有限公司上海浦东新区世纪大道证 ...

证券代码：003001 证券简称：中岩大地 公告编号：2025-062 北京中岩大地科技股份有限公司 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。 一、基本情况 北京中岩大地科技股份有限公司（以下简称"公司"）分别于 2025 年 4 月 大会，审议通过了《关于变更公司经营范围、注册资本、修订〈公司章程〉并办 理工商变更登记的议案》。具体内容详见公司 2025 年 4 月 18 日披露在《证券时 报》、《上海证券报》、《中国证券报》及巨潮资讯网（www.cninfo.com.cn） 上的《关于变更公司经营范围、注册资本、修订《公司章程》并办理工商变更登 记的公告》(公告编号：2025-024)。 二、工商变更登记情况 近日，公司完成注册资本、经营范围变更登记及《公司章程》备案手续，并 取得了北京市通州区市场监督管理局换发的《营业执照》，公司本次工商登记变 更事项如下： 变更前： 注册资本：12673.1886 万元 经营范围：技术开发、技术转让、技术咨询、技术服务、技术推广；专业承 包；工程和技术研究与试验发展；工程勘察专业类（岩土工程）；探矿工程、地 质测 ...

证券代码：003001 证券简称：中岩大地 公告编号：2025-062 北京中岩大地科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 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。 一、基本情况 北京中岩大地科技股份有限公司（以下简称"公司"）分别于 2025 年 4 月 16 日召开第三届董事会第二十八次会议，2025 年 5 月 9 日召开 2024 年年度股东 大会，审议通过了《关于变更公司经营范围、注册资本、修订〈公司章程〉并办 理工商变更登记的议案》。具体内容详见公司 2025 年 4 月 18 日披露在《证券时 报》、《上海证券报》、《中国证券报》及巨潮资讯网（www.cninfo.com.cn） 上的《关于变更公司经营范围、注册资本、修订《公司章程》并办理工商变更登 记的公告》(公告编号：2025-024)。 1 从事本市产业政策禁止和限制类项目的经营活动。） 变更后： 注册资本：12633.4151 万元 经营范围：一般项目：技术服务、技术开发、技术咨询、技术交流、技术转 让、技术推广；对外承包工程；工程和技术研究和试验发展；土石方工 ...

证券研究报告 建筑材料 行业点评报告 hyzqdatemark 2025 年 07 月 24 日 证券分析师 戴铭余 SAC：S1350524060003 daimingyu@huayuanstock.com 王彬鹏 SAC：S1350524090001 wangbinpeng@huayuanstock.com 郦悦轩 SAC：S1350524080001 liyuexuan@huayuanstock.com 林高凡 lingaofan@huayuanstock.com 唐志玮 tangzhiwei@huayuanstock.com 请务必仔细阅读正文之后的评级说明和重要声明 中国官宣，新世纪工程横空出世。7 月 19 日上午，雅鲁藏布江下游水电工程（简称 "雅下工程"）开工仪式在西藏自治区林芝市举行，同日，中国雅江集团成立，从 项目规格和高度来看，雅下工程全面对标三峡，堪称世纪工程，直接点燃了资本市 场热情。根据中国能源报，雅下工程主要采取截弯取直、隧洞引水的开发方式，建 设 5 座梯级电站，总投资约 1.2 万亿元，开发规模近 6000 万千瓦，规模相当于 2.7 个三峡电站（装机容量 2250 万千瓦） ...

北京中岩大地科技股份有限公司 股票交易异常波动公告 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。 一、股票交易异常波动的情况介绍 北京中岩大地科技股份有限公司（以下简称"公司"或"本公司"）股票（证 券简称：中岩大地，证券代码：003001）于 2025 年 7 月 22 日、7 月 23 日连续 2 个交易日收盘价格涨幅偏离值累计超过了20%，根据《深圳证券交易所交易规则》 的有关规定，属于股票交易异常波动的情况。 证券代码：003001 证券简称：中岩大地 公告编号：2025-061 针对公司股票异常波动，经公司对有关事项核查，并向公司控股股东及实际 控制人发函核实，现将有关情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处； 2、近期公共媒体未报道可能或已经对公司股票交易价格产生较大影响的未 公开重大信息； 3、近期公司经营情况及内外部经营环境未发生重大变化； 4、经查询，公司、控股股东及实际控制人不存在关于本公司的应披露而未 披露的重大事项，也不存在处于筹划阶段的其他重大事项； 5、公司控股股东、实际控制人在公司股票交易异常波动期间未买卖 ...

中岩大地 20250722 摘要 雅砻江雅砦水电站项目岩土工程价值量巨大，预计占总投资 1.2 万亿的 15%-20%，即接近 2000 亿，公司凭借坝基地基处理、边坡支护等核 心优势，有望获得约 1,000 亿订单。 雅砦项目订单释放节奏预计在导流洞建设完成（约三年）后进入高峰期， 但因其他水电站设计方案未定，整体进度存在不确定性，目前难以准确 预测订单爆发时间。 公司拥有自主研发团队，可根据工艺性能要求进行设备定制化设计和生 产，核心零部件拥有专利，设备主要自用，部分专利对外授权。 隧道工程中岩土工程占比高达 70%-80%，公司在相关核心应用领域占 据重要地位，但具体设备需求量需结合总工程量和工期要求评估。 节流建大坝环节涉及坝基处理、坝体建设等，公司超级旋喷技术适用于 地层加固，固化剂和锚杆技术可应用于边坡防护，但民坝建设核心价值 量尚无具体测算数据。 公司与电建、能建等大型央企已有合作，竞争优势在于自有技术和解决 新问题的能力，超级旋喷技术加固深度优于上海港湾、中化岩土等同行。 公司认为雅砦项目技术难度高于核电和港口领域，毛利率逻辑上可能更 高，但具体实现需看后续落地情况，大型水电站项目合同周期因分 ...

世纪级水电工程催生万亿级大市场 雅鲁藏布江下游水电工程堪称世纪级水电工程，催生超级旋喷巨大市场。雅鲁藏布江下游高低落差大、 降水量足，预计发电量约为三峡核电站3倍，拉动万亿级投资体量，其中岩土工程难度极高：抗震：喜 马拉雅东构造分布有诸多断裂带，墨脱设防烈度为最高的9度，能量约为三峡的3.3万倍；地质结构：雅 江沿线分布着坡积物、洪积物等第四系沉积物，地质条件差。水电岩土工程复杂，包括地连墙、碎石 桩、旋喷等多工法。 7月19日上午，总投资约1.2万亿元的雅鲁藏布江下游水电工程正式开工。雅鲁藏布江下游水电工程位于 西藏自治区林芝市。工程主要采取截弯取直、隧洞引水的开发方式，建设5座梯级电站，工程电力以外 送消纳为主，兼顾西藏本地自用需求。 雅鲁藏布江下游水电工程的正式开工，不仅是中国清洁能源发展的里程碑事件，更为岩土工程领域企业 带来了前所未有的发展机遇。中岩大地（003001）(003001.SZ)作为国内岩土工程技术的领军企业，凭 借其在复杂地质环境处理、高海拔施工等领域的核心技术优势，有望在这一超级工程中实现技术价值与 市场效益的双重突破。 中岩大地拥有全方位解决能力，包括SJT超级旋喷、固化剂等核心创 ...

Core Viewpoint - The commencement of the Yarlung Tsangpo River downstream hydropower project in Tibet is expected to significantly boost demand across various sectors, including civil explosives, tunneling, and geotechnical industries, leading to a positive outlook for related companies and industries [1][2]. Group 1: Project Overview - The Yarlung Tsangpo River downstream hydropower project involves the construction of five cascade power stations with a total investment of approximately 1.2 trillion yuan [1]. - Tibet's hydropower resources are abundant, with an estimated capacity of about 200 million kilowatts, accounting for nearly 30% of the national total, making it the highest in the country [1]. Group 2: Investment Opportunities - The project is projected to generate a total value of approximately 53.5 billion to 95.4 billion yuan in turbine and generator business, with potential growth in the hydropower equipment sector post-2030 [1][2]. - Key beneficiaries in the investment and design construction sectors include China Power Construction and China Energy Engineering [2]. - In the tunneling equipment sector, companies such as China Railway Engineering and Tianjin Heavy Industry are highlighted as significant players [2]. Group 3: Sector-Specific Beneficiaries - In the civil explosives sector, regional leaders like Gaozheng Explosives and Yipuli are expected to benefit from the project [2]. - The cement sector will see potential gains for regional leaders such as Tibet Tianlu and Huaxin Cement [2]. - Companies in the geotechnical field, such as Zhongyan Dadi, and concrete additive leaders like Subote are also identified as having investment value [2].

Group 1: Market Performance - The Hong Kong cement and building materials sector experienced a significant surge, with Huaxin Cement reaching a peak of 20.10 HKD, marking a maximum increase of over 100% [1] - As of the report, Huaxin Cement had risen by over 70%, while China Resources Cement Technology increased by nearly 15%, and China National Building Material rose by over 8% [1] Group 2: Project Announcement - The Yarlung Tsangpo River downstream hydropower project commenced construction on July 19 in Nyingchi, Tibet, with a total investment of approximately 1.2 trillion RMB [2] - The project will consist of five tiered power stations, primarily focusing on power transmission and consumption outside Tibet, while also addressing local needs [2] Group 3: Strategic Importance - The Yarlung Tsangpo River downstream hydropower development was highlighted in the 14th Five-Year Plan and is designated as a major investment project for 2025 [3] - Tibet has significant hydropower resources, with an estimated capacity of about 200 million kilowatts, accounting for nearly 30% of the national total [3] Group 4: Industry Implications - The commencement of the project is expected to drive demand in various sectors, including civil explosives, tunneling, and geotechnical industries, with a positive outlook for related companies [4] - Key beneficiaries in the investment and construction sectors include China Power Construction and China Energy Engineering, while tunnel equipment manufacturers like China Railway Engineering and China Railway Industry are also expected to benefit [4] - In the cement sector, regional leaders such as Tibet Tianlu and Huaxin Cement are anticipated to gain from the project, along with other material suppliers [4]

Investment Rating - Industry Rating: Recommended [4] Core Insights - The establishment of China Yajiang Group marks the orderly advancement of major engineering projects, with significant investment opportunities in geotechnical engineering and civil explosives [1][8] - The demand for civil explosives is expected to concentrate further, benefiting companies like Guangdong Hongda and Xuefeng Technology [1] - The traditional industry is experiencing a "anti-involution" trend, with recommendations for cement leaders such as Conch Cement and Huaxin Cement [1][9] - Domestic substitution is gaining momentum, with recommendations for companies like Maijia Xincai and Songjing Co., which are expected to benefit from tariff relief and increased shipping demand [1][10] Summary by Sections 1. Market Trends - In the 29th week, new housing and second-hand housing market transaction volumes showed a downward trend, with new housing transaction area in 30 major cities down by 25% year-on-year [2][23] - The average price of cement in the national market is 356 RMB/ton, continuing to decline with a drop of 1% [3][27] 2. Investment Opportunities - Major water conservancy and hydropower projects are expected to generate substantial demand for engineering, building materials, and civil explosives, with total investment in the Yarlung Hydropower Project estimated at approximately 1.2 trillion RMB [8] - The civil explosives industry is undergoing consolidation, with the Ministry of Industry and Information Technology aiming to reduce the number of production enterprises to 50 by 2025 [8] 3. Cement Industry Analysis - Cement prices are under downward pressure, particularly in East and Southwest China, with average shipment rates around 43.2% [3][27] - The cement market is expected to continue experiencing price fluctuations due to weak overall demand and high inventory levels [27][54] 4. Recommendations - Recommended companies include Conch Cement, Huaxin Cement, and companies in the waterproofing sector like Dongfang Yuhong and Keshun Co. [1][9] - For domestic substitution, companies like Maijia Xincai and Songjing Co. are highlighted for their growth potential in the ship coating sector [1][10]