Core Insights - The company reported a total operating revenue of 671 million yuan for Q3 2025, ranking 10th among disclosed peers, which represents a decrease of 109 million yuan or 13.96% year-on-year [1] - The net profit attributable to shareholders was 43.07 million yuan, ranking 11th among peers, down by 16.13 million yuan or 27.24% compared to the same period last year [1] - The net cash flow from operating activities was -356 million yuan, ranking 20th among peers, but increased by 87.84 million yuan year-on-year [1] Financial Ratios - The latest debt-to-asset ratio is 27.81%, ranking 8th among peers, a decrease of 0.20 percentage points from the previous quarter, but an increase of 2.50 percentage points year-on-year [3] - The latest gross profit margin is 40.90%, ranking 3rd among peers, an increase of 6.22 percentage points from the previous quarter and 7.29 percentage points year-on-year, marking two consecutive quarters of growth [3] - The latest return on equity (ROE) is 1.82%, ranking 11th among peers, down by 0.77 percentage points year-on-year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share is 0.08 yuan, ranking 12th among peers, a decrease of 0.03 yuan or 27.27% year-on-year [3] - The total asset turnover ratio is 0.19 times, ranking 13th among peers, down by 0.05 times year-on-year, a decrease of 20.37% [3] - The inventory turnover ratio is 1.83 times, down by 1.09 times year-on-year, representing a decline of 37.48% [3] Shareholder Structure - The number of shareholders is 31,300, with the top ten shareholders holding 361 million shares, accounting for 68.39% of the total share capital [3] - The largest shareholder is Shenzhen Smart City Technology Development Group Co., Ltd., holding 30.01% of shares [3]

Group 1 - The company, Shenzhen Urban Transport Group (深城交), held a temporary meeting of its second board of directors on October 28, 2025, to review the proposal for the "2025 Third Quarter Report" [1] - For the first half of 2025, the company's revenue composition was entirely from the professional technical service industry, accounting for 100.0% [1] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with technology leading the market's transformation into a "slow bull" new pattern [1]

证券代码：301091 证券简称：深城交 公告编号：2025-039 深圳市城市交通规划设计研究中心股份有限公司 第二届董事会第二十一次临时会议决议公告 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。 一、董事会会议召开情况 三、备查文件 1 / 2 二、董事会会议审议情况 会议审议并通过了《关于<2025 年第三季度报告>的议案》 经审议，董事会认为：公司《2025 年三季度报告》的内容真实、准确、完 整地反映了公司 2025 年 1-9 月经营的实际情况，不存在任何虚假记载、误导性 陈述或者重大遗漏；报告编制和审核的程序符合法律、行政法规的要求，符合中 国证监会和深交所的相关规定。公司董事会同意《关于<2025 年第三季度报告> 的议案》。 《2025 年三季度报告》（公告编号：2025-040）具体内容详见公司指定信息 披露媒体《证券时报》《证券日报》《中国证券报》《上海证券报》及巨潮资讯网 （http://www.cninfo.com.cn）。 表决情况：同意票 7 票，反对票 0 票，弃权票 0 票。 深圳市城市交通规划设计研究中心股份有限公司（以下 ...

Group 1 - The company's revenue for the third quarter is 256 million, a decrease of 18.87% [1] - The net profit for the third quarter is 52.47 million, a decrease of 23.79% [1] - The revenue for the first three quarters is 671 million, a decrease of 13.96% [1] - The net profit for the first three quarters is 43.07 million, a decrease of 27.24% [1]

Revenue and Profit - Revenue for Q3 2025 was CNY 256,172,646.11, a decrease of 18.87% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2025 was CNY 52,466,271.45, down 23.79% year-on-year[5] - The net profit after deducting non-recurring gains and losses was CNY 48,048,908.83, a decline of 21.31% compared to the previous year[5] - Total operating revenue for the current period is ¥671,406,518.37, a decrease of 13.95% from ¥780,345,133.85 in the previous period[25] - Net profit for the current period is ¥31,483,285.31, a decline of 30.93% compared to ¥45,529,869.70 in the previous period[26] - Earnings per share (EPS) for the current period is ¥0.08, down from ¥0.11 in the previous period[27] Assets and Liabilities - Total assets at the end of Q3 2025 were CNY 3,423,361,444.87, a decrease of 2.62% from the end of the previous year[5] - The company's current assets decreased from RMB 2,592,322,423.04 to RMB 2,512,557,492.91, reflecting a decline of approximately 3.1%[22] - The total liabilities decreased from RMB 1,064,656,770.90 to RMB 951,925,311.40, a reduction of about 10.6%[23] - The company's equity increased from RMB 1,589,984,815.51 to RMB 1,571,436,133.47, indicating a slight decrease of approximately 1.2%[23] Cash Flow - The company's cash flow from operating activities showed a net outflow of CNY 355,522,503.00 for the year-to-date, an increase of 19.81% in outflow compared to the previous year[5] - Cash flow from operating activities shows a net outflow of ¥355,522,503.00, an improvement from a net outflow of ¥443,358,600.50 in the previous period[27] - Cash inflow from investment activities is ¥996,330,072.74, compared to ¥1,405,620,140.88 in the previous period[27] - Net cash flow from investment activities was -$59,240,177.68, compared to a positive $136,788,266.67 in the previous period[28] - Cash inflow from financing activities amounted to $93,026,542.78, significantly higher than $2,319,998.00 in the prior year[28] - Net cash flow from financing activities was $59,785,627.17, a turnaround from -$27,695,856.87 in the previous period[28] - The net increase in cash and cash equivalents was -$354,977,053.51, compared to -$334,266,190.70 year-over-year[28] - The ending balance of cash and cash equivalents was $511,151,354.88, up from $335,435,920.69 in the previous year[28] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 31,263[15] - The total equity attributable to shareholders of the parent company increased to ¥2,367,458,780.66 from ¥2,335,041,044.44[24] Expenses and Investments - Total operating costs decreased to ¥632,376,426.35, down 11.43% from ¥714,064,668.99[25] - Research and development expenses increased to ¥102,261,182.16, up from ¥79,498,128.71, indicating a focus on innovation[25] - The company reported a decrease in financial expenses, with interest expenses rising to ¥8,862,552.23 from ¥3,077,557.38[25] - Investment cash outflow totaled $1,055,570,250.42, a decrease from $1,268,831,874.21 year-over-year[28] Other Financial Metrics - The weighted average return on equity was 2.24%, a decrease of 0.81% compared to the previous year[5] - Other comprehensive income after tax for the current period is ¥29,657.32, down from ¥43,641.90 in the previous period[26] - The third quarter financial report was not audited[29] Changes in Specific Accounts - Cash and cash equivalents decreased significantly from RMB 873,132,458.06 to RMB 530,172,981.71, a reduction of about 39.2%[22] - Accounts receivable increased from RMB 1,169,791,252.84 to RMB 1,329,576,080.87, representing an increase of approximately 13.6%[22] - The company's inventory increased from RMB 178,891,373.77 to RMB 255,918,390.64, reflecting an increase of about 43.0%[22] - The long-term equity investments decreased slightly from RMB 12,765,269.49 to RMB 12,198,171.55, a decline of approximately 4.4%[22] - The company reported a significant increase in other non-current assets from RMB 110,505,302.61 to RMB 116,093,149.93, an increase of about 5.2%[23] - Short-term borrowings increased dramatically by 5234.23% to CNY 90,787,413.96, reflecting new credit borrowings during the period[10] - Short-term borrowings rose significantly from RMB 1,701,979.30 to RMB 90,787,413.96, an increase of approximately 5,228.5%[23] - The company reported a significant increase in construction in progress, rising by 1698.02% to CNY 3,638,447.86 due to new projects[10]

Core Viewpoint - A new company, Danzhou Deep Digital City Technology Co., Ltd., has been established, focusing on various technology services including IoT, cloud computing, and AI software development [1] Company Summary - The legal representative of the newly established company is Qin Guotian [1] - The company's business scope includes IoT technology services, cloud computing equipment technology services, AI application software development, and computer system services [1] - The company is jointly held by Deep City Transportation (301091) and other stakeholders [1]

证券日报网讯深城交（301091）10月24日在互动平台回答投资者提问时表示，截至2025年10月20日公司 股东数为31138户。 ...

Core Viewpoint - Shenzhen's state-owned enterprise reform sector experienced significant stock price increases following the release of the "Shenzhen Action Plan for Promoting High-Quality Development of Mergers and Acquisitions (2025-2027)" [1] Group 1: Market Performance - On October 23, stocks such as JianKexuan surged by 20%, Shenzhen Water Planning Institute rose nearly 13%, and several other companies including Guangtian Group, TeFa Information, Shenzhen Saige, and Shenzhen Property A reached their daily limit [1] - The stock price changes for notable companies include: - JianKexuan: +20.02% at 20.74 - Shenzhen Water Planning Institute: +12.88% at 31.03 - Guangtian Group: +10.05% at 2.08 - TeFa Information: +10.04% at 10.41 - Shenzhen Saige: +10.04% at 11.18 - Shenzhen Property A: +10.03% at 11.30 [2] Group 2: Policy Implications - The action plan aims for a comprehensive improvement in the quality of listed companies by the end of 2027, targeting a total market capitalization of over 20 trillion yuan for domestic and foreign listed companies [1] - The plan includes the completion of over 200 merger projects with a total transaction value exceeding 100 billion yuan, along with the establishment of exemplary industry cases [1] - It emphasizes the creation of a merger fund matrix to cultivate outstanding merger fund managers, aiming to mobilize social capital to form a trillion-level "20+8" industrial fund cluster [1]

Core Points - The stock price of Shenzhen Urban Transportation Planning and Design Research Center Co., Ltd. (深城交) increased by 2.04% on October 20, reaching 32.98 CNY per share, with a total market capitalization of 17.39 billion CNY [1] - The company has experienced a year-to-date stock price decline of 10.04%, with a 7.88% drop over the last five trading days [1] Financial Performance - For the first half of 2025, the company reported a revenue of 415 million CNY, a year-on-year decrease of 10.63%, while the net profit attributable to shareholders was -9.40 million CNY, an increase of 2.62% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 90.10 million CNY, with 42.84 million CNY distributed over the past three years [3] Shareholder Information - As of October 10, 2023, the number of shareholders increased to 31,400, with an average of 16,817 circulating shares per person, a decrease of 0.29% from the previous period [2] - The eighth largest circulating shareholder, Hong Kong Central Clearing Limited, held 2.54 million shares, a decrease of 72,500 shares compared to the previous period [3] Business Overview - The company, established on January 14, 2008, focuses on urban transportation, providing comprehensive solutions based on traffic big data analysis, including planning consulting, engineering design, and smart transportation [2] - The revenue composition includes 56.27% from big data software and smart transportation, 25.03% from planning consulting services, and 17.75% from engineering design and testing [2]

Investment Rating - The report recommends a "Buy" rating for several key companies in the construction and infrastructure sectors, including 精工钢构 (Jinggong Steel Structure), 鸿路钢构 (Honglu Steel Structure), 国检集团 (Guojian Group), and others [14]. Core Insights - The construction industry is entering a "stock era," focusing on urban renewal and high-quality construction, driven by the need for green, low-carbon, and smart living environments [1][18]. - Prefabricated construction is identified as a long-term trend, with steel structures expected to show high prosperity due to labor shortages and sustainability requirements [2][21]. - The demand for inspection and testing services is anticipated to peak as the existing building stock ages, with significant market potential estimated at over 20 billion yuan [3][24]. - New infrastructure initiatives, particularly in low-altitude economy and energy sectors, are expected to see rapid growth supported by government policies [4][31]. - The report highlights the strategic importance of regions like Xinjiang and Sichuan, which are set to benefit from increased investment and infrastructure development [10][12][39]. Summary by Sections Construction and Decoration - The construction industry is transitioning from extensive expansion to intensive development, focusing on urban renewal and infrastructure maintenance [1][18]. - The urbanization rate is projected to reach 67% by the end of 2024, indicating a shift in investment focus [1][18]. Prefabricated Construction - The labor force in construction is declining, with the number of construction workers dropping to 42.86 million in 2024, a significant decrease from previous years [2][21]. - The average monthly salary for construction workers is expected to rise to 5,743 yuan in 2024, reflecting a 26% increase since 2019 [2][26]. - The report sets targets for the penetration rate of prefabricated construction at 30% by 2025 and 40% by 2030 [2][21]. Inspection and Testing - The existing building area is projected to reach approximately 38.4 billion square meters by the end of 2024, leading to a surge in demand for building inspections [3][24]. - The establishment of a housing pension system and regular inspection policies in various cities is expected to drive the inspection market [3][24]. New Infrastructure - The low-altitude economy is projected to grow to 2 trillion yuan by 2030, with related infrastructure investments estimated at 300-400 billion yuan [4][31]. - Government policies are increasingly supporting the development of low-altitude infrastructure, with significant funding expected [4][31]. Strategic Regions - Xinjiang is highlighted for its robust economic growth and infrastructure investment, with over 800 billion yuan allocated for coal chemical projects by 2025 [12][41]. - Sichuan is identified as a strategic region for national development, with ongoing support for infrastructure projects [10][39].