2025年6月16日，公司召开2024年年度股东会逐项审议通过了《关于回购公司A股股份方案的议案》， 同意公司使用自有资金以集中竞价交易方式回购公司已发行的部分人民币普通股（A股）股票，回购的 资金总额不低于人民币5亿元，不超过人民币10亿元，回购价格上限为13.58元/股，回购的股份将全部 予以注销并减少公司注册资本，回购期限为自股东会审议通过回购方案之日起12个月内。具体内容详见 2025年7月1日公司在上海证券交易所网站（www.sse.com.cn）披露的《中国交建（601800）关于以集中 竞价交易方式回购公司A股股份的回购报告书》。 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法律责任。 重要内容提示： ■ 一、回购股份的基本情况 三、其他事项 公司将严格按照《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第7号一一回购股 份》等相关规定，在回购期限内根据市场情况择机做出回购决策并予以实施，同时根据回购股份事项进 展情况及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 中国交通建设股份有限公司董事 ...

12月初，中国交通建设领域"海陆并进"，接连取得关键突破：厦金大桥厦门段主塔以"毫米级"精度圆满封顶；重庆江南隧道成功穿越复杂地质区段，建成 通车大幅缩短城市内部距离；南宁至凭祥高铁全线贯通，将边境城市接入全国高铁网。三项重大工程在不同维度上，共同彰显了中国基建的雄厚实力与推 动区域高质量发展的坚实步伐。 实现毫米级控制！厦金大桥厦门段主塔封顶 12月1日，厦金大桥厦门段关键控制性工程刘五店航道桥主塔完成封顶，大桥建设从"立塔成型"转入"悬索成桥"关键施工阶段，为后续主缆架设、钢箱梁 吊装等工序奠定坚实基础。 本次实现主塔封顶的刘五店航道桥全长1948米，主跨928米，主塔高178.1米，大桥单个主塔自下而上由60个钢壳节段和2道钢横梁组成，项目团队克服了 全离岸海上超高结构施工、高精度钢壳节段拼装、大体积混凝土温控等系列高难度技术挑战。 作为一个全离岸施工项目，材料机械运输是最大的难点。通过数字管控，搭配现场的精密仪器，最终主塔的单节轴线偏位均在四毫米以内，整体的偏差仅 为万分之零点五，大概在九毫米，实现了真正的毫米级控制。 据了解，厦金大桥厦门段海上主线有望在明年底具备通车条件。 攻克多项技术难题！重庆江 ...

每经头条（nbdtoutiao）——股民发帖求主力拉涨停，次日竟成真！襄阳轴承涨停迷局背后：平台审核 漏洞与市场操纵疑云发酵 （记者 王晓波） 每经AI快讯，中国交建12月3日晚间发布公告称，截至2025年11月30日，公司通过集中竞价交易方式已 回购A股股份数量约为2935万股，已回购股份约占公司总股本的0.1803%，回购成交的最高价格为8.98 元/股，回购成交的最低价格为8.47元/股，成交总金额为2.57亿元人民币。 ...

MACD金叉信号形成，这些股涨势不错！ 格隆汇12月3日丨中国交建(601800.SH)公布，截至2025年11月30日，公司通过集中竞价交易方式已回购 A股股份数量为2934.59万股，已回购股份约占公司总股本的0.1803%，回购成交的最高价格为8.98元/ 股，回购成交的最低价格为8.47元/股，成交总金额为2.57亿元人民币（不含交易费用）。 ...

2025 年 6 月 16 日，公司召开 2024 年年度股东会逐项审议通过了《关于回购 公司 A 股股份方案的议案》，同意公司使用自有资金以集中竞价交易方式回购公 司已发行的部分人民币普通股（A 股）股票，回购的资金总额不低于人民币 5 亿 元，不超过人民币 10 亿元，回购价格上限为 13.58 元/股，回购的股份将全部予以 注销并减少公司注册资本，回购期限为自股东会审议通过回购方案之日起 12 个月 内。具体内容详见 2025 年 7 月 1 日公司在上海证券交易所网站（www.sse.com.cn） 披露的《中国交建关于以集中竞价交易方式回购公司 A 股股份的回购报告书》。 二、 回购股份的进展情况 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等法律法规及规范性文件的规定，现将公司截至上月末回购股 份的进展情况公告如下： 证券代码：601800 证券简称：中国交建 公告编号：2025-062 中国交通建设股份有限公司 关于股份回购进展公告 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 ...

12月2日，A股市场整体下跌。 截至收盘，上证指数收报3897.71点，下跌0.42%；深证成指收报13056.7点，下跌0.68%；创业板指收报3071.15点，下跌 0.69%。两市合计成交15934.3亿元，较上一交易日减少2805.08亿元。 1. 两市主力资金净流出超310亿元 今日沪深两市主力资金开盘净流出136.81亿元，尾盘净流出36.65亿元，全天净流出310.83亿元。 沪深300今日主力资金净流出77.78亿元，创业板净流出142.83亿元。 | | | 各板块最近五个交易日主力资金净流入数据(亿元) | | | --- | --- | --- | --- | | 日期 | 沪深300 | 创业板 | 科创板 | | 2025-12-2 | -77.78 | -142. 83 | -1. 12 | | 2025-12-1 | 42. 90 | -50. 48 | 19. 65 | | 2025-11-28 | 3. 40 | 3.17 | -3. 24 | | 2025-11-27 | -60. 40 | -94. 23 | -0. 66 | | 2025-11-26 | 52. 26 ...

齐鲁晚报·齐鲁壹点记者于信用中国（河北）双公示信息获悉，11月26日，中交建冀交高速公路投资发展有限公司（下称"中交建冀投"）收到罚单，其违 法行为类型是：未经消防设计审查擅自施工，处罚机关为迁西县住房和城乡建设局。 | | | 信用信息 | 统一社会信用代码 站内文章 | | | | --- | --- | --- | --- | --- | --- | | | | Q 雷锋入主体名称 | | | 搜索 | | 信用动态 首页 | 政策法规 | 信用服务 信用承诺 行业信用 信用公示 | 王点领域 信用研究 信用京注冀晋 | 信易贷 | | | ■天 > > 唱唱公示 > 汉公示相 < 窗都 | | | | | | | 法人行政处罚信息 | | | 政權提示 | | | | 中交建翼交高速公路投资发展有限公司 | | 供电浴电 | 清输入关键词 | 0 | | | | | | 三 新闻专栏 | | | | 企业名称 | | 中交营和其实在线路公用地区直营设中 | | | | | 行政处罚决定书文号 | | 迁住建阳决字《2025》第017号 | 信用动态 | 取寄注机 | | | 处罚类别 | | 罚家 | ...

Fixed Income Research - In the current low interest rate environment, real estate bonds have certain yield exploration space, but the fundamentals of the sector still need further improvement. The overall strategy recommendation remains focused on steady defense [2][6]. Paper and Light Industry Research - The operational efficiency and employee motivation of Bohui Paper Industry have improved, backed by Golden Light Paper Industry, enhancing long-term competitiveness [2][10]. Telecommunications Research - Guangku Technology has raised its profit forecast and target price, maintaining a buy rating. Revenue has significantly increased, driven by rapid growth in data communication [2][12]. Retail and Social Services Research - Tongcheng Travel's Q3 2025 performance exceeded expectations, with seasonal growth in hotel and transportation sectors improving sequentially. The company continues to achieve stable profit release through take rate enhancement and efficiency improvements [2][15][16]. Public Utilities Research - In the context of market capitalization assessment, state-owned enterprises with weak stock prices may have buyback demands. There is also potential for thermal power companies to increase dividends or buybacks [2][19][37].

Industry Investment Rating - The steel industry maintains an "overweight" rating [49] - The real estate industry maintains an "overweight" rating [57] - The insurance industry maintains an "overweight" rating [86] Core Viewpoints - Global risk preferences have significantly declined, leading to asset price fluctuations and panic selling. However, China's capital market is expected to recover in valuation and experience significant development, with A/H shares, industrial commodities recommended for tactical overweight, and US dollars for tactical underweight [20][21] - The Fed's expected interest rate cut in December has risen significantly, and the market is highly concerned about the Fed's monetary policy. The Chinese economy is expected to gradually stabilize, and the policies of various industries will promote the improvement of industry fundamentals [8][15] - The technology theme is expected to return to the main line, and themes such as commercial space, AI applications, robots, and domestic demand consumption are worthy of attention [29] Summary by Directory Macro Reports - **Global Asset Performance**: From November 24 - 28, 2025, major global stock markets rose, commodities generally increased, the 10 - year US Treasury yield remained unchanged, the US dollar index fell, and the RMB appreciated against the US dollar [5] - **US Economy**: Manufacturing new orders increased, housing price growth slowed, and consumer growth also slowed [6] - **European Economy**: Business confidence in the eurozone stabilized [7] - **Overseas Policies**: The Fed's expected interest rate cut in December rose to 80%, the ECB President said the current interest rate was appropriate, the UK's budget faced a "technical leak", Japan's bond - issuing plan tilted towards short - term bonds, and the BOJ's December interest rate hike expectation did not increase [8][9][10] - **China's Economy**: Consumption, investment, and production showed structural differentiation. The manufacturing PMI marginally rebounded due to improved external demand, and the construction industry's business activity index also increased marginally, but the service industry's declined [13][15] Asset Allocation Report - **A/H Shares**: Tactical overweight is maintained due to multiple factors supporting China's equity performance, such as the release of micro - trading risks and the approaching policy window [20] - **Treasury Bonds**: Tactical standard allocation is maintained because of the imbalance between financing demand and credit supply, and the central bank may take action to maintain market liquidity [20] - **Industrial Commodities**: Tactical overweight is maintained as industrial metals like copper may face supply - demand imbalances, with strong demand and increasing development costs [21] - **US Dollars**: Tactical underweight is maintained as the Fed's policy adjustment and the marginal convergence of the US economy reduce the dollar's allocation value [21] Strategy Reports - **Asset Overview**: Global risk preferences recovered, stocks and commodities rose, silver and copper prices hit record highs, and the dollar index weakened. A - shares and other major global stock markets generally rebounded, and the bond market showed a pattern of a bearish steepening in China and a bullish steepening in the US [23][24][25] - **Theme Analysis**: The trading heat of hot themes was stable, the technology theme returned, and funds flowed into AI and communication. Themes such as commercial space, AI applications, robots, and domestic demand consumption are recommended [29] Overseas Strategy Reports - **Fund Flows**: North - bound funds may have a small net inflow, and south - bound funds' inflow into e - commerce and retail reached a new high since October. Overseas funds showed different flow trends in different markets [36][37] - **Policy Tracking**: Domestic policies covered macro, industrial, and local aspects, and overseas policies included diplomatic, economic, and interest - rate - related policies [39][40][43] Industry Reports - **Steel**: Demand is expected to stabilize, supply is expected to contract, and the industry's fundamentals are expected to gradually recover. Companies with product and cost advantages are recommended [45][48][49] - **Utilities**: The proportion of long - term contract electricity in 2026 is expected to decrease, electricity prices may have limited declines, and the industry's valuation is expected to improve [52] - **Real Estate**: The transaction volume in large and medium - sized cities rebounded, and the spot - housing sales are beneficial to the industry's healthy development [57][58] - **Food and Beverage**: CPI data has boosted the sector's expectations. Different sub - sectors such as liquor, beverages, and snacks have corresponding investment recommendations [62] - **Robotics**: Overseas and domestic companies have made progress in the field of humanoid robots, and investment in this field is active. Core component suppliers and整机 manufacturers are recommended [67][68][69] - **Machinery**: The weekly operating load rate of industrial gases increased, and important projects such as the second - phase of the Huanneng Jintan salt - cavern compressed - air energy - storage project advanced. Related companies are recommended [73][74][75] - **Insurance**: In October 2025, the growth rate of life and property insurance premiums declined marginally. The industry is optimistic about the growth of the life insurance's new business value (NBV) in the 2026 opening season and the continuous improvement of the property insurance's combined ratio (COR) [83][84][85] - **Agriculture**: Corn prices rose, the pet food market showed different trends at home and abroad, and the pig - breeding industry needs to pay attention to the epidemic and demand. Related companies in different sub - sectors are recommended [88][89][90] - **Textile and Apparel**: The US clothing retail industry showed growth, and the overseas K - shaped consumption trend continued. Export - manufacturing and brand - end companies are recommended [93][94][95]

经营现金流显著改善，推进资产盘活工作 中国交建(601800) 中国交建 2025 三季报点评 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | [Table_Invest] 评级： 增持 | | --- | --- | --- | --- | --- | | 韩其成(分析师) | 021-38676162 | hanqicheng@gtht.com | S0880516030004 | | | 郭浩然(分析师) | 010-83939793 | guohaoran@gtht.com | S0880524020002 | [Table_Target] 目标价格(元): 13.64 | | 曹有成(分析师) | 021-23185701 | caoyoucheng@gtht.com | S0880525040079 | | 本报告导读： Q3 归母净利润下降 16.3%，扣非归母增长 24.1%，经营净现金流显著改善，新签合 同额稳健增长。预分红比例为 2025H1 利润的 20%，全面推进做实资产专项工作。 投资要点： [维持增持。 Table_Summary] 受基建行业整体需求 ...