申万宏源建筑周报：新疆70周年庆祝大会召开，关注区域投资弹性-20250928

Investment Rating - The industry investment rating is "Overweight" indicating that the industry is expected to outperform the overall market [2][23]. Core Insights - The construction and decoration industry experienced a weekly decline of 1.51%, underperforming compared to the Shanghai Composite Index which rose by 1.07% [3][4]. - The best-performing sub-industries for the week were professional engineering (+1.06%), infrastructure private enterprises (+0.91%), and design consulting (+0.41%) [5][9]. - The largest annual gainers among sub-industries were infrastructure private enterprises (+57.85%), ecological landscaping (+32.82%), and professional engineering (+31.39%) [5][9]. - Key events included the 70th anniversary celebration of the Xinjiang Uyghur Autonomous Region and the successful convening of the Digital Construction Application and Development Conference [11][12]. Industry Performance - The SW Construction Decoration Index decreased by 1.51%, while the Shanghai Composite Index increased by 1.07%, resulting in a relative underperformance of 2.58 percentage points [3][4]. - The top three companies in terms of weekly gains were Huajian Group (+23.17%), Haibo Heavy Industry (+17.25%), and Shenghui Integrated (+12.94%) [9][10]. Key Company Developments - Mengcao Ecological won a contract for a project in Inner Mongolia valued at 225 million yuan, representing 10.43% of its 2024 revenue [13][14]. - Guangdong Construction secured a contract for a project worth 1.924 billion yuan, accounting for 2.82% of its 2024 revenue [13][14]. - China Railway won 11 projects totaling 50.215 billion yuan, which is 4.34% of its 2024 revenue [14].