格隆汇9月8日丨地铁设计(003013.SZ)公布，公司联合体于近日签署"越南胡志明市城市轨道交通2号线 滨城-参梁段调整可行性研究报告编制、前端工程设计及采购服务项目"合同，合同总额为1754.41亿 VND（越南盾）。 ...

地铁设计公告，公司联合体签署"越南胡志明市城市轨道交通2号线滨城-参梁段调整可行性研究报告编 制、前端工程设计及采购服务项目"合同，合同总额为1.75亿，000VND（越南盾）。本签约项目符合公 司主营业务战略布局，是公司首次直接获得境外轨道交通总体总包设计项目，标志着公司成功进入越南 市场。此次签约既是公司的品牌影响力和核心竞争力获得国际市场认可的有效体现，也是公司深度参 与"一带一路"共建国家轨道交通建设的重要举措，为公司后续争取越南等东南亚地区其他国家和地区的 轨道交通项目打下坚实业务基础。 ...

法律意见书 二〇二五年九月 北京市中伦（广州）律师事务所 关于广州地铁设计研究院股份有限公司 2025 年第三次临时股东会的 北京市中伦（广州）律师事务所 关于广州地铁设计研究院股份有限公司 2025 年第三次临时股东会的 法律意见书 致：广州地铁设计研究院股份有限公司 北京市中伦（广州）律师事务所（以下简称"本所"）受广州地铁设计研 究院股份有限公司（以下简称"公司"）委托，指派徐子林律师、胡婕律师（以 下简称"本所律师"）对公司召开的 2025 年第三次临时股东会（以下简称"本 次股东会"）进行见证。本所律师根据《中华人民共和国公司法》（以下简称 "《公司法》"）、《上市公司股东会规则》《深圳证券交易所上市公司股东 会网络投票实施细则》等法律规定以及《广州地铁设计研究院股份有限公司章 程》（以下简称"《公司章程》"）、《广州地铁设计研究院股份有限公司股 东会议事规则》的规定，对公司本次股东会的召集和召开程序、出席会议人员 资格（但不包含网络投票股东资格）、召集人的资格、股东会的表决程序、表 决结果等事宜的合法有效性进行了核查和见证，并根据对事实的了解和法律的 理解出具本法律意见书。 本所律师同意将本法律意 ...

证券代码：003013 证券简称：地铁设计 公告编号：2025-053 广州地铁设计研究院股份有限公司 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.本次股东会不存在否决议案的情形。 2.本次股东会不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 （一）召开时间 1.现场会议召开时间：2025 年 9 月 8 日（星期一）下午 15:00。 2.网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为2025 年 9 月 8 日上午 9:15-9:25，9:30-11:30 和 13:00-15:00；通过深圳证券交易所 互联网投票系统投票的时间为 2025 年 9 月 8 日 9:15-15:00。 （四）召集人：广州地铁设计研究院股份有限公司（以下简称"公司"）董 事会。 （五）主持人：公司董事长王迪军先生。 （六）本次会议的召集、召开符合《中华人民共和国公司法》、《上市公司 股东会规则》、《深圳证券交易所股票上市规则》等有关法律、行政法规、部门 规章、规范性文件和《公司章程》的有关规定。 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [3] Core Views - The company is expected to continue its growth trend in performance, with an improvement in profitability driven by an increase in gross margin [3][5] - The company has a strong market position in the Guangdong province and is well-positioned to benefit from the rapid development of urban rail transit in the Greater Bay Area [5] Financial Performance Summary - In H1 2025, the company achieved revenue of 1.317 billion yuan, a year-on-year increase of 5.31%, and a net profit attributable to shareholders of 221 million yuan, up 6.58% year-on-year [5] - The second quarter of 2025 saw significant growth, with revenue reaching 740 million yuan, a 15.76% increase year-on-year, and net profits showing a substantial increase of 60.73% [5] - The company's gross margin for H1 2025 was 36.74%, with a notable increase in Q2 to 38.20% [5] Revenue and Profit Forecast - Revenue projections for the company are as follows: 2.573 billion yuan in 2023, 2.748 billion yuan in 2024, and 2.934 billion yuan in 2025, with year-on-year growth rates of 3.92%, 6.79%, and 6.77% respectively [4] - The net profit attributable to shareholders is forecasted to be 432 million yuan in 2023, 492 million yuan in 2024, and 553 million yuan in 2025, with growth rates of 8.01%, 13.91%, and 12.44% respectively [4] Business Segment Performance - In H1 2025, the company's revenue from surveying and design, planning consulting, and EPC (Engineering, Procurement, and Construction) was 1.08 billion yuan, 25 million yuan, and 212 million yuan respectively, showing varied growth rates across segments [5] - The company maintained strong growth in its EPC business, while the planning consulting segment faced challenges [5] Cash Flow and Financial Ratios - The net cash flow from operating activities in H1 2025 was -521 million yuan, reflecting a decrease in cash outflow compared to the previous year [5] - The company's net profit margin for H1 2025 was 16.89%, with a significant increase in Q2 to 22.53% [5]

Company Overview - Guangzhou Metro Design Research Institute Co., Ltd. is located in Baiyun District, Guangzhou, Guangdong Province, and was established on August 6, 1993. The company was listed on October 22, 2020 [2] - The main business areas include urban rail transit, municipal engineering, and construction, focusing on surveying and design, planning consulting, and general contracting [2] - The revenue composition is as follows: surveying and design 81.97%, general contracting 16.07%, planning consulting 1.90%, and others 0.06% [2] Financial Performance - For the first half of 2025, the company achieved operating revenue of 1.317 billion yuan, representing a year-on-year growth of 5.31% [2] - The net profit attributable to the parent company was 221 million yuan, with a year-on-year increase of 6.58% [2] - Since its A-share listing, the company has distributed a total of 996 million yuan in dividends, with 572 million yuan distributed over the past three years [2] Stock Performance - As of September 1, the stock price of the company increased by 2.05%, reaching 15.93 yuan per share, with a total market capitalization of 6.505 billion yuan [1] - Year-to-date, the stock price has risen by 8.81%, with a 2.15% decline over the last five trading days, a 7.56% increase over the last 20 days, and a 10.70% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" three times this year, with the most recent appearance on February 20, where it recorded a net buy of -30.4394 million yuan [1] Shareholder Information - As of August 20, the number of shareholders was 13,500, a decrease of 0.41% from the previous period, while the average circulating shares per person increased by 0.41% to 29,638 shares [2]

Company Overview - Guangzhou Metro Design Institute Co., Ltd. is located in Baiyun District, Guangzhou, Guangdong Province, and was established on August 6, 1993. The company was listed on October 22, 2020. Its main business involves surveying and design, planning consulting, and general contracting in urban rail transit, municipal, and construction fields [1][2]. Financial Performance - For the first half of 2025, the company achieved operating revenue of 1.317 billion yuan, representing a year-on-year growth of 5.31%. The net profit attributable to the parent company was 221 million yuan, with a year-on-year increase of 6.58% [2]. - Since its A-share listing, the company has distributed a total of 996 million yuan in dividends, with 572 million yuan distributed over the past three years [3]. Stock Performance - As of August 29, the stock price of Metro Design fell by 2.01% to 15.57 yuan per share, with a trading volume of 54.1844 million yuan and a turnover rate of 0.86%. The total market capitalization is 6.358 billion yuan [1]. - Year-to-date, the stock price has increased by 6.35%, with a 5-day increase of 5.20%, a 20-day increase of 4.71%, and a 60-day increase of 8.35% [1]. Shareholder Information - As of August 20, the number of shareholders is 13,500, a decrease of 0.41% from the previous period. The average circulating shares per person increased by 0.41% to 29,638 shares [2]. Capital Flow - In terms of capital flow, there was a net outflow of 1.7123 million yuan from main funds, with large orders buying 2.8385 million yuan (5.24% of total) and selling 4.5508 million yuan (8.40% of total) [1].

Group 1 - The core viewpoint of the news highlights the performance and financial metrics of Guangzhou Metro Design Institute Co., Ltd., including stock price movements and trading volumes [1][2] - As of August 27, the stock price of the company increased by 2.00% to 16.30 CNY per share, with a total market capitalization of 6.656 billion CNY [1] - The company has seen a year-to-date stock price increase of 11.34%, with notable gains over the past 5 days (10.14%), 20 days (9.18%), and 60 days (12.72%) [1] Group 2 - Guangzhou Metro Design Institute was established on August 6, 1993, and listed on October 22, 2020, focusing on urban rail transit, municipal engineering, and construction design [2] - The main business revenue composition includes 81.97% from design services, 16.07% from engineering contracting, and 1.90% from planning consulting [2] - As of August 20, the number of shareholders decreased by 0.41% to 13,500, while the average circulating shares per person increased by 0.41% to 29,638 shares [2] Group 3 - The company has distributed a total of 996 million CNY in dividends since its A-share listing, with 572 million CNY distributed over the past three years [3]

Group 1 - The stock price of the company is reported at 15.98 yuan, down 1.84% from the previous trading day, with a trading volume of 273 million yuan [1] - The company operates in the engineering consulting services industry, focusing on urban rail transit and municipal engineering design, headquartered in Guangzhou with operations across multiple cities in China [1] - As of mid-2025, the company has a contract backlog exceeding 10 billion yuan and emphasizes cash flow management through various measures to enhance receivables management [1] Group 2 - The company has established a joint venture, Fujian Kehui Energy Co., Ltd., which focuses on energy management contracts in Fujian and surrounding areas [1] - The company plans to continue monitoring the approval process for urban rail transit projects and expand into areas such as Transit-Oriented Development (TOD) and general contracting [1] - Data indicates that on August 26, the company experienced a net outflow of 32.97 million yuan in principal funds, with a total net outflow of 7.97 million yuan over the past five days [1]

Investment Rating - The report assigns a "Buy-A" rating to the company, maintaining this rating with a target price of 20 yuan over the next six months [6]. Core Insights - The company reported a robust performance in Q2 2025, with a year-on-year revenue increase of 5.31% to 1.317 billion yuan and a net profit increase of 6.58% to 221 million yuan [2][3]. - The core design business saw a slight revenue growth of 0.93% year-on-year, while the engineering contracting business experienced significant growth of 73.98%, increasing its revenue share to 16.07% [2]. - The company is focusing on expanding its business into energy-saving renovations and has begun to explore the integration of low-altitude economy with rail transit projects [4]. Summary by Sections Financial Performance - In H1 2025, the company achieved a revenue of 1.317 billion yuan, with Q2 showing a remarkable growth of 15.76% compared to Q1, which had a decline of 5.60% [2]. - The gross profit margin for H1 2025 was 36.74%, with the main design business margin increasing to 41.68% [3]. - Operating cash flow improved, with a net outflow of 521 million yuan, which is a reduction of 75 million yuan compared to the previous year [3]. Business Development - The company is recognized as a leading urban rail transit design firm in A-shares, with strong competitive advantages and resilience in operations [4]. - It is actively pursuing new business lines, including low-altitude economy services, which encompass various areas such as aerial photography and data services [4]. Future Projections - The company is expected to achieve revenues of 3.008 billion yuan, 3.266 billion yuan, and 3.519 billion yuan from 2025 to 2027, with corresponding net profits of 543 million yuan, 598 million yuan, and 652 million yuan [11][12]. - The projected PE ratios for the next three years are 12.0, 10.9, and 10.0, indicating a favorable valuation outlook [10].