关于 蜀道投资集团有限责任公司 免于发出要约收购四川路桥建设集团股份有限公司 的持续督导意见 财务顾问 申万宏源证券承销保荐有限责任公司 二〇二五年九月 申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承销保荐"、"本 财务顾问"）接受委托，担任蜀道投资集团有限责任公司（以下简称"蜀道集团"、 "收购人"）豁免要约收购四川路桥建设集团股份有限公司（以下简称"四川路 桥"、"上市公司"）的财务顾问。 根据《上市公司收购管理办法》第七十一条，"自收购人公告上市公司收购 报告书至收购完成后 12 个月内，财务顾问应当通过日常沟通、定期回访等方式， 关注上市公司的经营情况，结合被收购公司定期报告和临时公告的披露事宜，对 收购人及被收购公司履行持续督导职责"。本财务顾问持续督导期为自 2021 年 6 月 4 日至收购完成后 12 个月内。 2025 年 8 月 30 日，上市公司披露了 2025 年半年度报告。通过日常沟通，结 合上市公司的2025年半年度报告，本财务顾问出具2025年半年度的持续督导意见， 本次持续督导期间为自 2025 年 1 月 1 日至 2025 年 6 月 30 日。本意见所依据的文 件 ...

Group 1 - The company Sichuan Road and Bridge (600039.SH) announced its first share buyback on September 12, 2025, through centralized bidding, repurchasing 476,000 shares, which represents 0.0055% of the company's total share capital [1] - The highest transaction price for the repurchased shares was 8.76 CNY per share, while the lowest was 8.70 CNY per share [1] - The total amount paid for the share buyback was 4,155,160 CNY, excluding transaction fees [1]

Group 1 - The company Sichuan Road and Bridge (600039.SH) announced its first share buyback on September 12, 2025, through centralized bidding, repurchasing 476,000 shares, which represents 0.0055% of the company's total share capital [1] - The highest transaction price for the repurchased shares was 8.76 CNY per share, while the lowest was 8.70 CNY per share [1] - The total amount paid for the share buyback was 4,155,160 CNY, excluding transaction fees [1]

Group 1 - Sichuan Road and Bridge's controlling shareholder plans to reduce its stake by up to 2% of the company's total shares, amounting to approximately 174 million shares [1] - Jinlongyu's shareholder terminates the share transfer agreement, halting the planned transfer of 5.32% of the company's shares [1] - Doli Technology's subsidiary plans to establish a joint venture in Spain with an investment of approximately 505 million yuan, with a 70% stake held by Doli Technology [1][2] Group 2 - Chongqing Pharmaceutical, a subsidiary of Zhongyao Holdings, has received approval for clinical trials of its drug, Clopidogrel Hydrochloride Tablets [3][4] - Dongyangguang plans to jointly increase capital in a subsidiary to acquire 100% of Qinhuai Data China for 28 billion yuan [5] - Kangzhi Pharmaceutical's controlling shareholder intends to transfer 5.0004% of the company's shares at a price of 5.34 yuan per share, totaling approximately 122 million yuan [6] Group 3 - Huali Co., Ltd. announces two shareholders plan to reduce their stakes by a combined total of up to 3.96% of the company's shares [7] - Fangbang Co., Ltd.'s director plans to reduce his stake by up to 15,000 shares, representing 0.1844% of the total shares [8] - China Pacific Insurance suggests issuing HKD-denominated convertible bonds, with proceeds aimed at supporting its main insurance business and strategic initiatives [9] Group 4 - Microchip Biotech's shareholder plans to reduce its stake by up to 3% of the company's total shares [10] - Hongbai New Materials' controlling shareholder intends to reduce its stake by up to 3% due to funding needs [11] - Zhejiang Rongtai clarifies that its sales in the robotics components sector are minimal and will not significantly impact annual net profit [12] Group 5 - ST Tianmao voluntarily withdraws its application for A-share listing, which has been accepted by the Shenzhen Stock Exchange [13] - Qingxin Environment's shareholder plans to reduce its stake by up to 1% of the company's total shares [14] - Lanjik Technology's two shareholders plan to reduce their stakes by a combined total of up to 2% of the company's shares [15] Group 6 - BYD's executives and core personnel collectively increased their holdings in the company by approximately 52.33 million yuan [16] - Trina Solar's subsidiary signs contracts for the sale of 2.48 GWh of energy storage products, marking a significant overseas order [17] - Chutianlong's shareholder plans to reduce its stake by up to 3% of the company's total shares [18] Group 7 - Zhongjuxin's shareholder plans to reduce its stake by up to 2.5% of the company's total shares due to funding needs [19] - ST Hezhong's controlling shareholder is under bail pending trial, but company operations remain unaffected [20] - Shoukai Co., Ltd. reports a signed contract amount of 973 million yuan for August, with cumulative contracts of 13.15 billion yuan for the year [21] Group 8 - Jucheng Co., Ltd.'s shareholder plans to reduce its stake by up to 2.61% of the company's total shares due to personal funding needs [22]

Core Viewpoint - Sichuan Road and Bridge experienced a decline in stock price and net outflow of funds, while its year-to-date performance shows a significant increase despite recent fluctuations [1][2]. Financial Performance - As of June 30, 2025, Sichuan Road and Bridge reported a revenue of 43.54 billion yuan, a year-on-year decrease of 4.91%, and a net profit attributable to shareholders of 2.78 billion yuan, down 13.00% compared to the previous year [2]. - Cumulative cash dividends since the company's A-share listing amount to 18.58 billion yuan, with 13.78 billion yuan distributed over the last three years [3]. Stock Market Activity - On September 11, the stock price fell by 2.04% to 8.63 yuan per share, with a trading volume of 85.11 million yuan and a turnover rate of 0.15%, resulting in a total market capitalization of 75.04 billion yuan [1]. - The stock has increased by 25.02% year-to-date, but has seen a decline of 1.48% over the last five trading days and an 8.80% drop over the last 60 days [1]. Shareholder Information - The number of shareholders decreased by 23.90% to 50,400, while the average circulating shares per person increased by 31.41% to 133,066 shares [2]. - Major shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 25.44 million shares, and other significant shareholders also increased their positions [3]. Business Overview - Sichuan Road and Bridge, established on December 28, 1999, and listed on March 25, 2003, primarily engages in infrastructure construction and investment operations, with engineering construction accounting for 89.20% of its revenue [1]. - The company operates in the construction and decoration sector, specifically in municipal engineering [1].

炉康高速全线平均海拔超3500米，最高海拔达3850米，线路走向与鲜水河活动性断裂带交错并行，地形 地质条件复杂、生态环境敏感脆弱。面对高寒高海拔、高地震烈度、高生态环保要求等多重挑战，项目 创新采用新型抗震桥梁设计方案，通过优化桥墩结构、选用耐震材料等技术手段，进一步降低地震导致 的桥墩梁板受损风险，确保震后桥梁仍能正常通行且便于快速修复，保障通行安全与应急救援效 率。"这是一条挑战建设极限的高原天路，我们将把生态保护新技术全面应用于项目建设，通过划定生 态保护红线、采用环保施工工艺等措施，最大程度减少对沿线生态环境的破坏与影响，实现工程建设与 生态保护协同推进。"蜀道集团相关负责人表示。 甘孜州交通运输局相关负责人介绍，作为大香格里拉旅游环线中"连藏接青通滇"的重要区域连接线，炉 康高速将串联起塔公草原、八美墨石公园、龙灯草原、道孚藏式民居、雅拉雪山、炉霍霍尔文化景区等 优质旅游景点，形成"景点串线、线路成网、全域联通"的旅游交通格局，助力沿线打造精品旅游线路， 推动川西高原旅游产业高质量发展。对沿线群众而言，这条公路更是名副其实的"民生快车道"，将直接 改善生产生活物资运输效率与日常出行条件，缩短城乡时 ...

证券代码：600039 证券简称：四川路桥 公告编号：2025-099 四川路桥建设集团股份有限公司 控股股东通过大宗交易减持公司股份计划公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 控股股东及其一致行动人持股的基本情况：四川路桥建设集团股份有限公司（以下简称公司或四川路 桥）控股股东蜀道投资集团有限责任公司（以下简称蜀道集团）持有公司4,950,301,259股股份，占公司 总股本的比例为56.93%，蜀道集团及其一致行动人四川高速公路建设开发集团有限公司（以下简称川 高公司）、四川藏区高速公路有限责任公司（以下简称藏高公司）、蜀道资本控股集团有限公司（以下 简称蜀道资本）、四川高路文化旅游发展有限责任公司（以下简称高路文旅）共持有公司6,927,708,854 股股份，占公司总股本的比例为79.67%。 ● 减持计划的主要内容：为引入认可公司内在价值和看好未来发展的价值投资者、优化公司股权结构， 蜀道集团计划通过大宗交易方式减持公司股份不超过173,911,812股，即不超过公司总股本 ...

Mergers and Acquisitions - Dongyangguang plans to jointly increase capital in Yichang Dongshu No.1 Investment Co., Ltd. with an associated party, with capital increases of 3.5 billion and 4 billion yuan respectively. The company intends to acquire 100% equity of Qinhuai Data's China operations through its wholly-owned subsidiary [1] - Aimeike has completed the acquisition of controlling interest in South Korea's REGEN Biotech, Inc., obtaining 59.5% equity after the completion of the transaction [2] - Longzi Co., Ltd. plans to acquire 67.5% equity of Chongqing Time through a cash payment of 92.475 million yuan [3] Shareholding Changes - Hongbai New Materials' controlling shareholder plans to reduce its stake by up to 3%, which includes a maximum of 6.5 million shares through centralized bidding and 13 million shares through block trading [4] - BYD executives and core personnel collectively increased their holdings by 488,200 shares, with a total investment of 52.3278 million yuan [5] - Sichuan Road and Bridge's controlling shareholder intends to reduce its stake by up to 2%, equating to a maximum of 17.4 million shares [6] Regulatory Issues - Baiyin Nonferrous Metals has received a notice from the China Securities Regulatory Commission regarding an investigation for suspected violations of information disclosure [7] - Huangting International's wholly-owned subsidiary's asset, the Crystal Island International Shopping Center, was put up for auction but ultimately failed to sell [8]

| | | 据统计，9月10日，盘后华菱钢铁、比亚迪披露增持情况。包括华控赛格、亚威股份、名雕股份、澄天 伟业、中粮科工、长华化学、捷顺科技、志特新材、君逸数码、天际股份、达实智能、聚辰股份、中欣 氟材、物产金轮、中巨芯、楚天龙、青鸟消防、宏柏新材、澜起科技、微芯生物、方邦股份、舒泰神、 华立股份、拓普集团、四川路桥、嘉和美康、清新环境在内的27家A股上市公司披露减持情况。 | 1 | 华控赛格 | 股东深塞格拟减持不超过3%公司股份 | | --- | --- | --- | | 2 | 亚威股份 | 董事长冷志斌计划减持不超0.64%公司股份 | | 3 | 名雕股份 | 持股5%以上股东姜鑫及董事叶绍东计划减持公司股份 | | 4 | 澄天伟业 | 实控人及其一致行动人拟减持不超公司总股本的2.96% | | 5 | 长年代宗 | 股东拟减持不超过3%公司股份 | | 6 | 中粮科工 | 股东拟减持不超过3%公司股份 | | 7 | 捷顺科技 | 股东计划合计减持不超3.04%公司股份 | | 8 | 志特新材 | 股东拟合计减持不超1%公司股份 | | 9 | 君逸数码 | 部分董事、高级管理人员计 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ | | | 9.10上市公司盘后减持情况 | | --- | --- | --- | | 1 | 华控赛格 | 股东深赛格拟减持不超过3%公司股份 | | 2 | 亚威股份 | 董事长冷志斌计划减持不超0.64%公司股份 | | 3 | 名雕股份 | 持股5%以上股东姜鑫及董事叶绍东计划减持公司股份 | | 4 | 澄天伟业 | 实控人及其一致行动人拟减持不超公司总股本的2.96% | | 5 | 长华化学 | 股东拟减持不超过3%公司股份 | | 6 | 中粮科工 | 股东拟减持不超过3%公司股份 | | 7 | 捷顺科技 | 股东计划合计减持不超3.04%公司股份 | | 8 | 志特新材 | 股东拟合计减持不超1%公司股份 | | 9 | 君逸数码 | 部分董事、高级管理人员计划减持公司股份 | | 10 | 天际股份 | 控股股东及一致行动人持股比例降至16.83% | | 11 | 达实智能 | 公司大股东及董事拟减持股份 | | 12 | 聚层股份 | 股东武汉珞珈拟减持不超过2.61%公司股份 | | 13 | 中欣氪材 ...