Core Viewpoint - Zhengzhong Design (002811.SZ) has received a notification from Yatai Yizhao regarding the reduction of shares, indicating a significant decrease in ownership by a major shareholder [1] Group 1: Shareholding Changes - Yatai Yizhao reduced its holdings by a total of 5,342,706 shares from November 3, 2025, to November 10, 2025 [1] - This reduction represents 1.73% of the company's total share capital and 1.78% of the adjusted total share capital [1]

特别提示： 1、本次权益变动为深圳市郑中设计股份有限公司（以下简称"公司"）控 股股东深圳市亚泰一兆投资有限公司（以下简称"亚泰一兆"）履行此前披露的 减持股份计划所致。 2、本次权益变动后，亚泰一兆及其一致行动人合计持有公司的股份数量为 169,383,517股，占公司剔除回购专用账户中股份数量后（以下简称"剔除后"） 总股本比例56.48%，占公司总股本比例55.00%，持股比例触及5%的整数倍。 3、本次权益变动不会导致公司控制权发生变更，亦不会对公司治理结构及 持续经营产生重大影响。 证券代码：002811 证券简称：郑中设计 公告编号：2025-073 深圳市郑中设计股份有限公司 关于股东权益变动的提示性公告 控股股东深圳市亚泰一兆投资有限公司保证向本公司提供的信息内容真实、 准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及其董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 | 股东名称 | 股份性质 | | 本次变动前持有股份 | 占剔除后 | | 本次变动后持有股份 | | | --- | --- | --- | --- | --- | --- | --- | --- | ...

深圳市郑中设计股份有限公司 简式权益变动报告书 上市公司信息 上市公司名称：深圳市郑中设计股份有限公司 股票上市地点：深圳证券交易所 股票简称：郑中设计 股票代码：002811 信息披露义务人：深圳市亚泰一兆投资有限公司 住所：深圳市福田区香蜜湖街道东海社区香林路 28 号东海花园 1 期 2 栋 14B 通讯地址：深圳市福田区香蜜湖街道东海社区香林路 28 号东海花园 1 期 2 栋 14B 信息披露义务人的一致行动人之一：郑忠 住所：深圳市福田区香蜜湖街道东海社区香林路 28 号东海花园 1 期 2 栋 14B 通讯地址：深圳市福田区香蜜湖街道东海社区香林路 28 号东海花园 1 期 2 栋 14B 信息披露义务人的一致行动人之二：邱艾 住所：深圳市福田区香蜜湖街道东海社区香林路 28 号东海花园 1 期 2 栋 14B 通讯地址：深圳市福田区香蜜湖街道东海社区香林路 28 号东海花园 1 期 2 栋 14B 股份变动性质：股份减少、持股比例下降 签署日期：2025 年 11 月 11 日 截至本报告书签署之日，除本报告书披露的信息外，上述信息披露义务人没 有通过任何其他方式增加或减少其在郑中设计中拥有权 ...

Investment Rating - The report maintains a "Positive" investment rating for the construction and engineering sector [9] Core Views - The construction sector exhibits characteristics such as low valuation, low institutional holdings, large market capitalization, and stable outlook for quality targets. The report identifies four key investment directions within the construction industry: 1) Companies with strong Q3 performance and short-term earnings certainty 2) High dividend yield stocks providing a safety cushion 3) Strong long-term growth potential 4) Large-cap stocks with low absolute valuations [5][6][7] Summary by Sections Valuation Metrics - As of the latest closing, the Jiangsu Construction Index has a PE ratio of 12.83, ranking 28th across all industries, with a 10-year percentile of 68.5%. The PB ratio stands at 0.84, ranking 31st, with a 10-year percentile of 16.22%. Notably, the construction sector and the banking sector are the only indices within the Jiangsu framework that are trading below book value [5][6] Institutional Holdings - The construction sector has historically low institutional holdings, which may reflect a weak outlook for the industry and a lack of attention from investors. This could lead to undervaluation of high-quality construction stocks [6] Market Capitalization - The construction sector has a limited number of listed companies, with eight major state-owned enterprises collectively valued at 941.19 billion, accounting for 47% of the Jiangsu Construction Index's market capitalization. These enterprises play a crucial role in stabilizing economic growth and are likely to be favored in a market shift towards undervalued sectors [6][7] Investment Directions - **Direction One**: Focus on companies with strong Q3 earnings, such as Sichuan Road and Bridge, China Chemical, and others, which show robust growth and sufficient order backlogs [7] - **Direction Two**: Invest in high dividend yield stocks like Jianghe Group (6.2%), Sichuan Road and Bridge (5.6%), and others, which provide a strong holding safety net [7] - **Direction Three**: Target companies with strong long-term growth potential, such as Honglu Steel Structure and others benefiting from semiconductor capital expenditure [7] - **Direction Four**: Invest in large-cap stocks with low absolute valuations, including eight major state-owned enterprises that are all trading below book value [7]

Core Viewpoint - Zhengzhong Design's stock has experienced fluctuations, with a year-to-date increase of 53.22% but a recent decline of 2.04% on November 10, 2023, indicating potential volatility in the market [1]. Financial Performance - For the period from January to September 2025, Zhengzhong Design reported a revenue of 989 million yuan, representing a year-on-year growth of 19.89%, and a net profit attributable to shareholders of 135 million yuan, which is a 42.62% increase compared to the previous year [2]. - Cumulatively, Zhengzhong Design has distributed a total of 647 million yuan in dividends since its A-share listing, with 241 million yuan distributed over the last three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Zhengzhong Design decreased by 20.18% to 19,800, while the average circulating shares per person increased by 25.29% to 14,267 shares [2]. - The seventh largest circulating shareholder is the "Zhaoshang Quantitative Selected Stock Fund A" with a holding of 1.65 million shares, indicating new institutional interest [3]. Market Activity - On November 10, 2023, Zhengzhong Design's stock price was 12.46 yuan per share, with a trading volume of 47.65 million yuan and a turnover rate of 1.34%, reflecting active trading [1]. - The company has appeared on the "Dragon and Tiger List" nine times this year, with the most recent appearance on August 4 [1]. Business Overview - Zhengzhong Design, established on December 26, 1994, and listed on September 8, 2016, specializes in high-end architectural decoration design and construction, with its main business revenue composition being 67% from design services, 22.49% from soft decoration, 8.88% from decoration engineering, and 1.42% from other services [1]. - The company operates within the "Building Decoration" industry and is associated with concepts such as the Belt and Road Initiative, small-cap stocks, share buybacks, digital economy, and artificial intelligence [1].

| | | 11月10日A股投资避雷针 | | --- | --- | --- | | 类别 | 公司 | 主要内容 | | 股东减持 | 华宏科技 | 董事、副总裁胡品龙拟减持不超210万股股份 | | | 中英科技 | 实际控制人的一致行动人马龙秀拟减持不超过58万股 | | | 永安药业 | 部分董事、高级管理人员拟合计减持不超过23.54万股 | | | 赢时胜 | 实际控制人之一唐球拟减持不超过1.86%股份 | | | 唯特偶 | 两名股东拟合计减持不超过3%股份 | | | 福晶科技 | 控股股东拟减持不超过2%股份 | | | 欣龙控股 | 海南筑华拟减持不超过3%股份 | | | 方大灰索 | 拟减持不超过7568.82万股已回购股份 | | | 郑中设计 | 股东亚泰一兆减持227.68万股公司股份 | | | 长白山 | 股东吉林森工拟减持不超过272.36万股公司股份 | | | 成都先导 | 股东深圳钧天累计减持185.94万股公司股份 | | | 春风动力 | 春风控股等股东合计减持146.3万股公司股份 | | | 博睿数据 | 股东盖曦东完成减持100万股公司股份 | | 其他 ...

Core Viewpoint - Shenzhen Zhengzhong Design Co., Ltd. announced that its controlling shareholder, Shenzhen Yatai Yizhao Investment Co., Ltd., has reduced its shareholding, impacting the percentage of shares held in the company [2][3]. Group 1: Shareholding Reduction - The controlling shareholder, Yatai Yizhao, initially held 141,961,723 shares, representing 47.33% of the total share capital after excluding repurchased shares [2]. - Yatai Yizhao plans to reduce its holdings by up to 8,997,606 shares within three months, which accounts for no more than 3% of the total share capital after excluding repurchased shares [2]. - As of November 6, 2025, Yatai Yizhao has reduced its holdings by 2,276,800 shares, which is 0.74% of the total share capital and 0.76% of the total share capital after exclusion [3]. Group 2: Impact on Shareholding Structure - Following the reduction, Yatai Yizhao and its concerted parties now hold a total of 172,449,423 shares, decreasing their ownership from 56.73% to 56.00% of the total share capital [3]. - The percentage of shares held after excluding repurchased shares has also decreased from 58.26% to 57.50% [3].

Core Points - Zhengzhong Design announced a reduction in shareholding by its controlling shareholder, Shenzhen Yatai Yizhao Investment Co., Ltd. [2] - As of November 6, 2025, Yatai Yizhao reduced its shares by 2,276,800 shares, representing 0.74% of the total share capital [2] - Post-reduction, Yatai Yizhao and its concerted parties hold a total of 172,449,423 shares, decreasing their ownership from 56.73% to 56.00% of the total share capital [2] Summary by Category Shareholding Changes - Yatai Yizhao's share reduction was executed through centralized bidding [2] - The reduction affected the total share capital, with the percentage of shares held post-reduction being 57.50% when excluding shares in the repurchase account [2] Financial Impact - The reduction in shares indicates a significant change in the ownership structure of Zhengzhong Design, potentially impacting investor perception and market dynamics [2]

Core Viewpoint - Shenzhen Zhengzhong Design Co., Ltd. announced a share reduction by its controlling shareholder, Shenzhen Yatai Yizhao Investment Co., Ltd., which has decreased its shareholding from 56.73% to 56.00% through the sale of 2.2768 million shares, representing 0.74% of the total share capital [1][4]. Group 1: Background of the Reduction Plan - The initial plan was to reduce up to 8.9976 million shares, which would account for no more than 3% of the total share capital after excluding shares in the repurchase account [2]. - The reduction was planned to occur within three months following the announcement, utilizing both centralized bidding and block trading methods [2]. Group 2: Details of the Reduction - The reduction occurred between November 3 and November 6, 2025, with 2.2768 million shares sold through centralized bidding, accounting for 0.74% of the total share capital and 0.76% of the adjusted total share capital [3]. - The reduction was consistent with the previously disclosed plan and complied with relevant laws and regulations [3]. Group 3: Changes in Shareholding - Following the reduction, Yatai Yizhao and its concerted parties hold a total of 172,449,423 shares, down from 174,726,223 shares, representing a decrease in ownership from 56.73% to 56.00% of the total share capital [4]. - Yatai Yizhao's own shareholding decreased from 141,961,723 shares (46.10% of total) to 139,684,923 shares (45.36% of total), while the shareholding of its concerted parties remained unchanged at 30,516,750 shares [4]. Group 4: Impact on the Company - The company stated that the share reduction will not lead to a change in control and will not significantly impact its operations, with Yatai Yizhao remaining the largest shareholder and actual controller [5]. - The reduction plan is not yet fully executed, and any further reductions will be disclosed in accordance with regulations [5].

Core Viewpoint - Zhengzhong Design (002811.SZ) has received a notification from Yatai Yizhao regarding a reduction in shareholding that has reached a 1% integer threshold as of November 6, 2025 [1] Summary by Relevant Sections - **Shareholding Reduction** - Yatai Yizhao has reduced its shareholding in Zhengzhong Design by a total of 2.2768 million shares, which represents 0.74% of the company's total share capital [1] - After this reduction, Yatai Yizhao and its concerted parties now hold a total of 172 million shares, decreasing their ownership from 175 million shares, which lowers their stake from 56.73% to 56.00% of the total share capital [1] - **Impact on Total Share Capital** - The reduction also affects the shareholding percentage when excluding shares held in the repurchase special account, with the stake decreasing from 58.26% to 57.50% [1]