[Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) The company forecasts a significant net loss for H1 2025, with attributable net profit between -273 million and -211 million RMB, and non-recurring adjusted net profit between -303 million and -241 million RMB 2025 Half-Year Performance Forecast | Metric | Estimated Amount (RMB Million) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | -273 to -211 | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | -303 to -241 | - The performance forecast period is from January 1, 2025, to June 30, 2025[4](index=4&type=chunk) - The company explicitly states that these forecast figures are preliminary and unaudited, with final data subject to the official semi-annual report[3](index=3&type=chunk)[4](index=4&type=chunk) [Comparison with Prior Period Performance](index=1&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E7%BB%8F%E8%90%A5%E4%B8%9A%E7%BB%A9%E5%92%8C%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5) The company's H1 2025 performance significantly deteriorated compared to H1 2024, with projected losses substantially increasing from the prior year's -18.84 million RMB 2025 H1 Performance Forecast vs 2024 H1 Actual Performance | Metric | 2025 H1 (Forecast) | 2024 H1 (Actual) | | :--- | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders (RMB Million) | -273 to -211 | -18.84 | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items (RMB Million) | -303 to -241 | -95.71 | | Earnings Per Share (RMB) | Not Disclosed | -0.0139 | [Analysis of Performance Change Reasons](index=2&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8C%96%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) The increased loss is primarily due to challenges in core operations, including industry adjustments, project delays, intensified competition, and extended payment cycles, leading to reduced revenue, lower gross margins, and increased impairment provisions, compounded by decreased non-operating asset disposal gains [Impact of Core Operations](index=2&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%BD%B1%E5%93%8D) Ongoing deep adjustments in the construction industry severely challenged core operations, leading to decreased revenue from insufficient project starts and delays, eroded gross margins due to heightened competition and extended project durations, and increased asset impairment provisions from longer client payment cycles - Due to deep adjustments in the construction industry, insufficient project starts and delayed construction progress led to a year-on-year decrease in the company's operating revenue[7](index=7&type=chunk) - Intensified market competition and extended project durations contributed to a decline in the company's gross margin[7](index=7&type=chunk) - Extended payment cycles from some client entities resulted in increased impairment provisions for related assets[7](index=7&type=chunk) [Impact of Non-Operating Gains and Losses](index=2&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E6%8D%9F%E7%9B%8A%E7%9A%84%E5%BD%B1%E5%93%8D) During the reporting period, a year-on-year decrease in non-current asset disposal gains and losses negatively impacted current period profit, contributing to the expanded loss - The year-on-year decrease in non-current asset disposal gains and losses during the reporting period was the primary source of negative impact from non-operating items[7](index=7&type=chunk) [Risk Warning and Other Notes](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company states no significant uncertainties affect the forecast's accuracy but emphasizes that the data is preliminary, advising investors to consider investment risks and rely on the official 2025 semi-annual report - The company assesses that there are no significant uncertainties affecting the accuracy of this performance forecast[8](index=8&type=chunk) - The company reiterates that the forecast data is preliminary, and investors should refer to the officially disclosed 2025 semi-annual report for precise financial figures[9](index=9&type=chunk)

重庆建工（600939）公告，预计2025年半年度实现归属于母公司所有者的净利润为-2.73亿元到-2.11亿 元，预计2025年半年度实现归属于母公司所有者的扣除非经常性损益后的净利润为-3.03亿元到-2.41亿 元。本次业绩预告仅为初步核算数据，具体准确的财务数据以公司正式披露的2025年半年度报告为准。 ...

Core Viewpoint - Chongqing Construction (600939) is facing challenges with its convertible bond pricing and potential financial losses, while also moving forward with new project investments [1][2][3] Group 1: Trading Information - As of July 11, 2025, Chongqing Construction's stock closed at 3.9 yuan, up 2.36%, with a turnover rate of 7.62% and a trading volume of 1.4493 million shares, amounting to a total transaction value of 580 million yuan [1] - On the same day, the net outflow of main funds was 67.4666 million yuan, accounting for 11.63% of the total transaction value, while retail investors saw a net inflow of 87.676 million yuan, representing 15.11% of the total [1][3] Group 2: Company Announcements - On July 10, 2025, Chongqing Construction's fifth board of directors and supervisory board held their 45th meetings, where they approved the establishment of a joint venture project company for development and investment, with an estimated total investment of 566.3279 million yuan [2][3] - The company plans to contribute 450 million yuan to the project, holding a 79.46% stake in the new venture, with the registered capital of the project company set at 100 million yuan [2][3]

Group 1 - The housing inspection sector experienced a decline of 1.47%, ranking among the top losers in the concept sector as of the market close on July 11 [1][2] - Within the housing inspection sector, companies such as Tefa Service, Shenzhen Ruijie, and Jian Kexuan saw significant declines, while 13 stocks in the sector recorded gains, with New Point Software, Chongqing Construction, and Zhonggang Tianyuan leading the increases at 2.74%, 2.36%, and 2.20% respectively [1][2] Group 2 - The housing inspection sector faced a net outflow of 425 million yuan from major funds today, with 34 stocks experiencing net outflows, and 19 stocks seeing outflows exceeding 10 million yuan [2][3] - Tefa Service had the highest net outflow of 119.38 million yuan, followed by Chongqing Construction, Sujiao Science, and Nanwei Software with net outflows of 68.09 million yuan, 26.98 million yuan, and 24.56 million yuan respectively [2][3] - Conversely, the stocks with the highest net inflows included Zhonggang Tianyuan, Dongfang Yuhong, and Hualan Group, with net inflows of 44.86 million yuan, 7.91 million yuan, and 3.66 million yuan respectively [2][3]

Market Overview - The A-share market saw all three major indices rise, with the Shanghai Composite Index up 0.48% to 3509.68 points, the Shenzhen Component Index up 0.47% to 10631.13 points, and the ChiNext Index up 0.22% to 2189.58 points [1] Trading Volume and Sector Performance - The combined trading volume of the Shanghai, Shenzhen, and North markets reached 151.53 billion yuan. Sectors such as silicon energy, new urbanization, and innovative pharmaceuticals showed significant gains [2] - In Shandong province, nearly 60% of stocks rose, with notable performances including Puliang Software hitting the daily limit, and Donghong Co., Jinding Mining, Shandong Fiberglass, and Wohua Pharmaceutical also reaching the daily limit [2] New Urbanization Initiatives - The new urbanization sector was particularly active, with stocks like New City, Huaxia Happiness, and Chongqing Construction hitting the daily limit. Donghong Co. is involved in municipal infrastructure construction and urban renewal projects [2] - The National Development and Reform Commission emphasized the goal of achieving basic new urbanization by 2035, focusing on high-quality advancement in key areas [2] Silicon Energy Sector - The silicon energy sector continued to strengthen, with companies like Tuori New Energy achieving three consecutive daily limits. Several silicon wafer companies have raised their prices, with increases ranging from 8% to 11.7% [2] Innovative Pharmaceuticals - The innovative pharmaceutical sector was active, with companies like Saily Medical, Lianhuan Pharmaceutical, and Haishike hitting the daily limit. The report from CICC highlighted the international competitiveness of Chinese innovative drugs, supported by recent clinical data disclosures [3] - Longcheng Securities noted that the A-share market is steadily rising, breaking previous highs, with a positive trading sentiment and emerging new market leaders [3]

重庆建工集团股份有限公司 第五届监事会第四十五次会议决议公告 本公司监事会及全体监事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个别及连带责任。 | 证券代码：600939 | 证券简称：重庆建工 | | 公告编号：临 2025-075 | | | --- | --- | --- | --- | --- | | 转债代码：110064 | 转债简称：建工转债 | | | | | 债券代码：254104 | 债券简称：24 | 01 | | 渝建 | 一、监事会会议召开情况 重庆建工集团股份有限公司（以下简称"公司"）于 2025 年 7 月 4 日发出召开第五届监事会第四十五次会议的通知。公司第五届监事会 第四十五次会议于 2025 年 7 月 10 日以通讯方式召开。会议应出席的 监事 6 人，实际出席的监事 6 人。 本次会议的召集、召开、审议程序符合《中华人民共和国公司法》 等有关法律法规及《重庆建工集团股份有限公司章程》的有关规定。 会议的召集、召开及所作决议合法有效。 二、监事会会议审议情况 （一）审议通过了《关于审议公司合资成立项目公司实施开发 ...

（一）审议通过了《关于审议公司合资成立项目公司实施开发招 商项目的议案》 | 证券代码：600939 | 证券简称：重庆建工 | | 公告编号：临 2025-074 | | | --- | --- | --- | --- | --- | | 转债代码：110064 | 转债简称：建工转债 | | | | | 债券代码：254104 | 债券简称：24 | 01 | | 渝建 | 重庆建工集团股份有限公司 第五届董事会第四十五次会议决议公告 本公司董事会及全体董事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个别及连带责任。 一、董事会会议召开情况 重庆建工集团股份有限公司（以下简称"公司"）于 2025 年 7 月 4 发出召开第五届董事会第四十五次会议的通知。公司第五届董事会第 四十五次会议于 2025 年 7 月 10 日以通讯方式召开。会议应参与表决 的董事 9 人，实际参与表决的董事 9 人。 本次会议的召集、召开、审议程序符合《中华人民共和国公司法》 等有关法律法规及《重庆建工集团股份有限公司章程》的有关规定。 会议的召集、召开及所作决议合法有效。 ...

Core Viewpoint - The prefabricated construction sector has shown a positive performance with a 1.68% increase, ranking 10th among concept sectors, driven by significant gains in stocks like Chongqing Construction and Chengdu Road & Bridge, which hit the daily limit up [1] Group 1: Market Performance - The prefabricated construction concept saw 84 stocks rise, with Chongqing Construction, Chengdu Road & Bridge, and Sifang New Materials reaching the daily limit up [1] - Notable gainers included Silica Technology (up 18.29%), Zhongshi Consulting (up 13.16%), and Xujie Technology (up 8.90%) [1] - The sector experienced a net inflow of 6.95 billion yuan from main funds, with 56 stocks receiving net inflows [1] Group 2: Fund Flow Analysis - Major stocks with significant net inflows included Vanke A (2.86 billion yuan), Silica Technology (2.29 billion yuan), and Chengdu Road & Bridge (885.41 million yuan) [1] - The highest net inflow rates were observed in Sifang New Materials (70.30%), Chongqing Construction (22.23%), and Chengdu Road & Bridge (18.94%) [2] Group 3: Stock Performance - Vanke A recorded a 3.36% increase with a turnover rate of 2.59% and a main fund flow of 28.57 million yuan [2] - Silica Technology had the highest increase at 18.29% with a turnover rate of 29.51% and a main fund flow of 22.87 million yuan [2] - Chengdu Road & Bridge rose by 10.04% with a turnover rate of 13.05% and a main fund flow of 88.54 million yuan [2]

Group 1 - The housing inspection concept rose by 2.89%, ranking second among concept sectors, with 37 stocks increasing in value [1][2] - Notable gainers in the housing inspection sector include Guangzi International with a 30% limit up, Chongqing Construction also hitting the limit up, and other significant increases from Zhongshi Consulting, Te Fa Service, and Xujie Technology at 13.16%, 10.06%, and 8.90% respectively [1][2] - The sector saw a net inflow of 207 million yuan from main funds, with 25 stocks receiving net inflows, and 7 stocks exceeding 10 million yuan in net inflow [2][3] Group 2 - The top net inflow stocks in the housing inspection sector include Te Fa Service with a net inflow of 84.65 million yuan, followed by Chongqing Construction, Huace Testing, and Dongfang Yuhong with net inflows of 63.18 million yuan, 38.99 million yuan, and 31.84 million yuan respectively [2][3] - The net inflow ratios for Chongqing Construction, Guojian Group, and Jianyan Institute were 22.23%, 16.32%, and 10.86% respectively, indicating strong interest from main funds [3][4] - The overall performance of the housing inspection sector reflects a positive trend, with significant capital inflows and stock price increases among key players [1][2][3]

Market Overview - A-shares experienced increased volatility, with major blue-chip stocks performing well, as the Shanghai 50 and CSI 300 indices reached new highs for the year, while the Shanghai Composite Index hit a 9-month high, but showed signs of a pullback towards the end of the trading session [1] - The market turnover slightly decreased to 1.51 trillion yuan, with sectors such as large financials, real estate, rare metals, and photovoltaic equipment showing significant gains, while sectors like ground equipment, beverage dairy, professional chains, and digital currency faced declines [1] Capital Inflows - Non-bank financials saw a net inflow of over 8.2 billion yuan, while the pharmaceutical and biological sector received over 6.6 billion yuan in net inflows. Real estate and non-ferrous metals also attracted more than 3 billion yuan each, with basic chemicals, construction decoration, and oil and petrochemicals receiving over 2 billion yuan each [1] - The textile and apparel sector has seen continuous net inflows for 14 consecutive days, while electronics, automotive, and defense sectors experienced net outflows exceeding 1 billion yuan [1] Real Estate Sector - The real estate sector saw a rapid increase in stock prices, with the sector index rising nearly 4% in the afternoon session. Notable stocks like Yuhua Development and Huaxia Happiness reached their daily limit up [2][4] - The Hong Kong real estate sector also surged, with the Hang Seng Mainland Property Index rising over 5%, reaching a new high for the year. Stocks like Lushang Service and China Urban Infrastructure saw significant gains [6] Financial Sector - The financial sector strengthened again, becoming a major driver of the market's rise, with the banking sector index reaching a historical high and a cumulative increase of over 20% this year. Major banks like ICBC, Bank of China, and Agricultural Bank of China also set historical records [9] - The average dividend yield for A-share listed banks is around 4%, indicating potential for further declines. With expectations of stabilized net interest margins and improving asset quality, the banking sector's return on equity is anticipated to recover gradually, attracting continued inflows of capital [9] Future Outlook - Pacific Securities suggests that after the index's upward shift, the highest point has surpassed 3,500, but the current volume and volatility differ significantly from last September's market conditions, indicating a more oscillatory upward trend [1] - Zhongyin Securities predicts that 2025 will be a critical year for the real estate industry, recommending a focus on leading real estate companies in high-energy cities with stable cash flows, as well as brokerage firms benefiting from a recovery in the second-hand housing market [8]