香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列中國中鐵股份有限公司於2025年12月4日在上海證券交易所網站刊登的「中國中鐵 股份有限公司關於調整2025年中期利潤分配總額的公告」，僅供參閱。 承董事會命 中國中鐵股份有限公司 陳文健 董事長 中國 • 北京 2025年12月4日 於本公告日期，本公司的執行董事為陳文健先生（董事長）及王士奇先生；本公司的非執 行董事為文利民先生及房小兵先生；本公司的獨立非執行董事為修龍先生、孫力實女士 及屠海鳴先生。 | H | | | --- | --- | | 股代码：00390 | 股代码：601390 | | H | A | | 股简称：中国中铁 | 股简称：中国中铁 | | | 公告编号：临 | | | A 2025-064 | 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 ...

Core Insights - As the year-end approaches, real estate companies in Shanghai are making efforts to boost their annual performance [1] - The focus of the Shanghai real estate market has shifted to sales following the last land auction of the year on November 24 [2] - In November 2025, a total of 29 new projects were launched in Shanghai, with a transaction area of approximately 33.5 million square meters [3] Sales Performance - The top three projects in terms of sales volume were Lianqi Binjiang, Binjiang Yazhu, and Beilian C1, with Beilian C1 showing impressive sales figures [7] - Beilian C1, managed independently by Beike Group's Beihome, achieved significant sales in November, marking it as a standout performer in the fourth quarter [7] - Despite having the smallest land area of only 23 acres among the top ten new home sales in November, Beilian C1's success highlights the strong demand for high-quality housing in a market characterized by cautious sentiment [8] Market Trends - Industry experts note that the emphasis on high-quality residential construction is becoming a consensus in the market, with a focus on meeting diverse and high-quality living needs [8] - The end of the year is seen as a prime opportunity for promoting quality housing products, as pent-up demand from buyers is expected to be released [8]

中国上市公司网 据悉，天溯计量本次拟公开发行股票数量为1,630.4348万股，全部为公开发行新股，发行后总股本为 6,521.7392万股。初始战略配售发行数量为244.5651万股，占本次发行数量的15%。回拨机制启动前，网 下初始发行数量为970.1197万股，约占扣除初始战略配售数量后发行数量的70%，网上初始发行数量为 415.7500万股，约占扣除初始战略配售数量后发行数量的30%。公司本次发行初步询价时间为12月9日 9:30-15:00，12月11日为公司本次网上路演时间。 公开资料显示，天溯计量是一家全国性、综合型的独立第三方计量检测服务机构，主营业务为计量校 准、检测、认证等专业技术服务，客户涉及生物医药、汽车、新能源、轨道交通、能源电力、轻工日 化、装备制造等国民经济多个领域。公司致力于通过优质、高效的专业技术服务，为企业品质溯源保驾 护航，助力我国生产制造的高质量发展，落实制造强国、质量强国战略要求。 | 项目 | 2025年1-6月 | | 2024 年度 | | 2023 年度 | | 2022 年度 | | | --- | --- | --- | --- | --- | --- ...

旅客在长白山站站台上候车。 一列复兴号智能动车组列车行驶在沈白高铁长白山区段线路上。 一列复兴号智能动车组列车行驶在沈白高铁长白山区段线路上。 一列复兴号智能动车组列车从长白山西站驶出。 吉林省长白山华美胜地滑雪场雪道现场。 一列和谐号动车组列车行驶在沈白高铁长白山区段线路上。 吉林省长白山华美胜地雪后美景。 ...

| | | 中国中铁股份有限公司 关于调整 2025 年中期利润分配总额的公告 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法 律责任。 分红总额调整情况：中国中铁股份有限公司（以下简称"公司"） 2025 年中期利润分配拟向全体股东每 10 股派发现金红利 0.82 元 （含税）不变，现金分红总额由 2,023,696,312.98 元（含税）调 整为 2,023,409,075.18 元（含税）。 分红总额调整原因：公司 2025 年中期分红方案披露之日起至本公 告披露日，公司已完成部分限制性股票回购注销工作，且继续回购 了部分 A 股股票，致使有权参与权益分派的总股数发生变动。公司 拟维持每股分配比例不变，相应调整分配总额。 中国中铁股份有限公司 2025 年中期利润分配方案>的议案》，具体方案如 下： 公司拟向全体股东每股 10 股派发现金红利 0.82 元（含税）。截至 2025 年 10 月 30 日，公司总股本为 24,741,008,919 股，扣除公司已宣布后续 将回购注销的限制性股票 54,786,990 股以及公 ...

在第八届中国国际进口博览会期间，中国中铁（601390）电气化局集团有限公司上海电气（601727）化 工程分公司上海城轨运营维管分公司(以下简称"运维分公司")全员昼夜不息守护着连接国家会展中心的 轨道交通线路安全顺畅运行，圆满完成保驾任务。 展会期间，运维分公司全面激活"一条主线、三个部署、五个加强"专项保障体系。徐泾基地现场指挥中 心作为神经中枢，进行24小时不间断调度，97个现场值守点(含61个常规点与36个加强点)人员全就位， 对核心区段设备运行状态实施不间断巡护与动态监测。 同时，"1+30"支兼职抢修队(即1支核心专业队与30支区域支援队)全天候待命，一支由接触网/轨、变 电、轨道等多专业骨干组成的高效协同应急力量时刻保持临战状态，由此构建起一个"点状精准值守、 线状快速响应、面状联动覆盖"的立体化防护网络。 为保障日间列车运营不受影响，运维分公司"地铁守夜人"持续开展夜间集中检修。每日凌晨，最后一班 列车结束运营回库后，检修人员分赴核心线路，全面开展供电设备巡检、轨道状态排查、信号系统校验 等作业。充分运用"人防+技防"双重保障机制，确保隐患及时发现、迅速处置，确保次日所有线路均以 最佳状态投 ...

Company Overview - Shenzhen Tiansu Measurement and Testing Co., Ltd. (Tiansu Measurement) has officially initiated its A-share listing process on the Shenzhen Stock Exchange, aiming to issue 16.3043 million shares, accounting for 25% of the total post-issue share capital, with a fundraising target of 424 million yuan [1] - Established in 2009, Tiansu Measurement is a national, comprehensive independent third-party measurement and testing service provider, specializing in calibration, testing, and certification services [1] - The company has developed a wide range of calibration services across ten fields, including geometric, thermal, mechanical, electromagnetic, radio, time and frequency, acoustic, optical, chemical, and ionizing radiation, totaling 1,417 calibration services [1] Market Position and Client Relationships - Tiansu Measurement has established 27 laboratories nationwide, achieving a "grid" layout for market coverage, enabling rapid response and efficient service [2] - The company has long-term partnerships with major enterprises such as Shougang Group, China Railway, China National Nuclear Corporation, State Grid, and China Railway Construction, resulting in a high customer retention rate and stable revenue [2] - Tiansu Measurement focuses on strategic emerging industries, enhancing its technical capabilities through independent research and development, and has developed twelve core technologies that support innovation in downstream industries [2] Financial Performance - The company's revenue and net profit have shown a positive growth trend, with revenues of 726 million yuan, 800 million yuan, and 409 million yuan for the years 2023, 2024, and the first half of 2025, respectively [2] - Corresponding net profits were 101 million yuan, 111 million yuan, and 55.5762 million yuan for the same periods, indicating a stable financial performance [2] Industry Trends and Policy Support - The Ministry of Industry and Information Technology has issued a policy document aimed at enhancing measurement innovation in the manufacturing sector, outlining 14 key tasks to improve measurement capabilities [3] - This policy is expected to create more development opportunities for measurement companies, facilitating technological innovation and market expansion, thereby supporting high-quality development in the manufacturing industry [3]

Core Insights - In November 2025, Shanghai saw a total of 29 new property projects launched, with a transaction area of approximately 33.5 million square meters, reflecting a month-on-month decrease of about 15.5% [1] - The Beike Group's independent residential project, Beilian C1, achieved notable sales performance, ranking third in both sales area and number of units sold [1] - Beilian C1 was launched on October 31, 2025, after acquiring land on December 31, 2024, and its sales results were recorded in November, marking it as a "dark horse" in Shanghai's real estate market for Q4 2025 [1] Market Data - The sales data is based on monitoring from CRIC and public market data, focusing solely on residential projects in Shanghai [3] - The statistical period for the sales data is from November 1 to November 30, 2025 [3] - The sales metrics include only residential properties, excluding commercial, office, serviced apartments, affordable housing, and other non-residential sales [3]

据黑龙江日报，12月2日，12306工作人员回应称，最近对于购票选座界面进行了优化调整，A、F座两 侧并不是"墙"，而是将"窗"字改为一道竖线。A、F座依然是靠窗侧的座位，只是不一定正对窗，可能 在窗户前或窗户后，界面优化是为了避免因座位是否靠窗引起的误解。 近日，有网友发帖称，在12306购票选座时发现，A、F座两侧的"窗"字没了，而是变为"两堵墙"。 相关话题冲上热搜第一。 每日经济新闻综合黑龙江日报、光明网 （文章来源：每日经济新闻） 据光明网，此前有网友反映其购买的高铁靠窗票，上车后却发现是没有窗户的"面壁座"，建议铁路部门 细化座位标识，以便消费者选择。 ...

Summary of Key Points from Conference Call Records Industry Overview - **Real Estate Industry**: The real estate sector is supported by policies aimed at high-quality development, with state-owned enterprises (SOEs) expected to avoid significant losses. It is projected that real estate investment growth may decline to around 8 trillion yuan by 2025, with the contribution of real estate and its industrial chain to GDP dropping to 8-10% from a peak of approximately 30% [1][2][3]. Core Insights and Arguments - **Investment Trends**: The construction industry is facing negative growth in investment, with infrastructure, manufacturing, and real estate investments all declining. In October, new home sales fell by 30% year-on-year, and second-hand home sales dropped by 18% [1][4]. - **Future Projections**: The real estate sector's contribution to GDP is expected to decrease to about 4.2%, with a potential drop in investment to the 7 trillion yuan range if the fourth quarter sees significant declines [2][4]. - **Policy Support**: The emphasis on high-quality development suggests that a number of quality companies will emerge as market benchmarks over the next three to five years, particularly among SOEs [2][3]. Investment Recommendations - **Construction Sector**: It is advised to selectively invest in SOEs in the construction sector to capitalize on potential short-term policy boosts. Key companies to watch include: - **Planning and Design**: Huayang International, Shenzhen Ruijie - **EPC and General Contracting**: China State Construction, China Railway, China Railway Construction - **Construction**: Shanghai Construction, Honglu Steel Structure - **Completion**: Jintai Long, Jianghe Group [5][6]. - **Building Materials Sector**: The building materials industry is expected to show significant divergence by 2025, with some companies maintaining growth while others decline. Companies with unique growth advantages or low valuations and high dividend yields will be favored by the market [7][8]. Notable Companies in Consumer Building Materials - **Oriental Yuhong**: Growth driven by overseas markets, with improving gross margins due to raw material price declines [8]. - **Hankow Group**: Expected to maintain over 30% growth [8]. - **San Ke Shu**: Benefiting from rural revitalization and renovation markets [8]. - **Beijing New Materials, Rabbit Baby, and North New Materials**: Notable for their valuation or dividend advantages [8]. Glass Fiber and Cement Sectors - **Glass Fiber**: The sector is experiencing a split between high-end and low-end demand, with leading companies showing strong profitability. Recommended companies include China Jushi and China National Materials [9][10]. - **Cement**: The cement sector is expected to face limited demand elasticity, with supply-side restrictions anticipated to be implemented by the end of next year. Recommended companies include Conch Cement and Huaxin Cement [10]. Steel Industry Outlook - **Steel Demand**: The steel industry is expected to see demand bottoming out, contingent on policy support. Recommended leading companies include Baosteel, Nanjing Steel, and CITIC Special Steel [11][12]. Aluminum Industry Insights - **Aluminum Demand**: The aluminum sector is benefiting from increased demand due to renewable energy needs, with domestic production nearing capacity limits. Companies like Yunnan Aluminum are favored for long-term investments [13]. Coking Coal Market Analysis - **Coking Coal Trends**: The coking coal market is expected to recover from a poor first half of 2025, with prices anticipated to rise due to supply constraints and resource depletion. Recommended companies include North China Mining and Shanxi Coking Coal [14][15].