Group 1 - China Merchants Industry announced the termination of the restructuring and spin-off of its subsidiaries, China Merchants Jinling and China Merchants Roll-on Roll-off, due to a lack of consensus on transaction terms and changes in market conditions [2] - Sichuan Road and Bridge is planning a related party transaction to acquire 100% equity and debt rights of Chengdu New Road and Bridge Machinery Co., which is expected to be a related party transaction but not a major asset restructuring [2] - Guotai Junan Securities plans to increase its capital by 1.5 billion yuan to Guotai Junan Futures Co., Ltd. to supplement its net capital [5] Group 2 - Innovation New Materials intends to register and issue short-term financing bonds not exceeding 500 million yuan and medium-term notes not exceeding 1.5 billion yuan to enhance liquidity management [3] - Gree Electric's wholly-owned subsidiary plans to sell 5.9088% equity of Winshang Technology for 62.6333 million yuan, which will improve asset liquidity and cash flow [4] - Yapu Co. plans to purchase approximately 54.5% of Winshang Technology for about 578 million yuan to accelerate its strategic development in key automotive components [6] Group 3 - Deep Highway announced that Yunshan Capital increased its holdings in the company's H-shares by 10.81 million shares, bringing its total shareholding to 254 million shares, accounting for 10% of the total share capital [7] - Aichuang Data plans to procure servers worth up to 4 billion yuan to provide computing power leasing services [8] - Luoping Zinc Electric is transferring 22.4% of its shares to Qujing Development Investment Group, with trading suspension starting from May 28 due to control change planning [9] Group 4 - Zhongke Haixun signed a contract for an information processing subsystem procurement project worth 163 million yuan [10] - Enhua Pharmaceutical's associate company Jiangsu Haoxin Qing plans to go public overseas to expand financing channels and is establishing a red-chip structure [11] - Yunnan Energy Investment has been awarded the development rights for three wind farm projects, including the Fuyuan Nanchong Wind Farm [13]

Suspension - Luoping Zinc Electric's controlling shareholder is planning to transfer 22.3960% of its shares to Qujing Investment, leading to a suspension of trading tomorrow [1] Mergers and Acquisitions - Sichuan Road and Bridge is planning to acquire 100% equity and debt of Chengdu Xinzhu Transportation Technology held by Xinzhu Co [2] - Yapu Co. intends to purchase approximately 54.50% of Yingshuang Technology for 7.8 billion [3] - Kebo Da's wholly-owned subsidiary plans to acquire 100% equity of Czech IMI Company [4] Share Transfer and Buyback - Yuxin Technology's shareholder intends to transfer 1.54% of the company's shares [5] External Investment and Daily Operations - Xiechuang Data plans to procure servers not exceeding 4 billion [6] Evening Announcements - Hanghua Co. reports that Qihong Investment has completed the inquiry transfer of 10.9167 million shares [7] - Bangyan Technology plans to repurchase shares for 30 million to 50 million [7] - Muyuan Foods has submitted an application for the issuance and listing of overseas listed foreign shares (H shares) to the Hong Kong Stock Exchange [7] - Nanjing Public Utilities intends to absorb and merge its wholly-owned subsidiary Jinguang Industrial [7] - Dingyang Technology officially released the SDS7000L series high-end compact high-resolution digital oscilloscope [7] - Zhongke Haixun signed a contract for a 163 million information processing subsystem procurement project [7] - Guotai Haitong plans to increase capital by 1.5 billion to Guotai Junan Futures Co., Ltd. [7] - Boyuan Chemical's controlling shareholder pledged 105 million shares [7] - Fengshen Co. plans to establish a wholly-owned subsidiary for external investment [7] - Aike Co.'s controlling subsidiary received project designation notices from clients including BYD [7]

四川路桥建设集团股份有限公司 关于筹划关联交易事项的提示性公告 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。 证券代码：600039 证券简称：四川路桥 公告编号：2025-057 特此公告。 四川路桥建设集团股份有限公司董事会 2025年5月27日 1 四川路桥建设集团股份有限公司（以下简称本公司）目前正筹划由本公司 或指定的子公司购买成都市新筑路桥机械股份有限公司（以下简称新筑股份） 持有的成都市新筑交通科技有限公司100%股权及对其享有的债权（以下简称本 次交易）。新筑股份系本公司控股股东蜀道投资集团有限责任公司控股子公司， 本次交易预计构成关联交易，不构成重大资产重组。 本次交易尚处于筹划阶段，存在不确定性。公司将根据交易进展情况及时 履行信息披露义务，敬请广大投资者注意投资风险。 ...

长江商报奔腾新闻记者 汪静 刚刚易主没几天，新筑股份（002480.SZ）便开始筹划重大资产重组。 5月26日午间，新筑股份披露关于筹划重大资产重组的停牌公告。 本次权益变动后，公司控股股东将由四川发展变更为蜀道集团，实际控制人仍为四川省国资委。 长江商报奔腾新闻记者发现，自2012年至2024年，这13年间新筑股份的扣除非经常性损益的净利润（简 称"扣非净利润"）一直处于亏损状态。其中，2021年至2024年，公司扣非净利润分别亏损3.09亿元、 6.16亿元、3.48亿元、4.28亿元。2025年一季度，公司扣非净利润亏损6232万元。 值得一提的是，新筑股份还存在较为明显的财务压力。截至2025年3月底，公司资产负债率达84.74%， 达历史最高水平。 公告显示，新筑股份正在筹划资产出售及发行股份购买资产，并视具体情况募集配套资金（以下简 称"本次交易"）。根据相关规定，公司证券自5月26日开市时起开始停牌。本次停牌时间预计不超过十 个交易日，同时公司预计在不超过10个交易日的时间内披露本次交易方案。 根据公告，新筑股份于2025年5月23日收到控股股东蜀道投资集团有限责任公司（以下简称"蜀道集 团"） ...

Core Viewpoint - Chengdu Xinzhu Road & Bridge Machinery Co., Ltd. (hereinafter referred to as "Xinzhu Co.") is planning a significant asset restructuring and related transactions, which are expected to enhance its business focus on clean energy and optimize resource allocation in the Sichuan province [2][5][7]. Group 1: Asset Restructuring Details - Xinzhu Co. intends to resolve the industry competition issue with its controlling shareholder, Shudao Group, by acquiring 60% equity of Sichuan Shudao Clean Energy Group Co., Ltd. (hereinafter referred to as "Shudao Clean Energy") through a combination of share issuance and cash payment [3]. - The company will sell 100% equity of Sichuan Development Maglev Technology Co., Ltd. (hereinafter referred to as "Chuanfa Maglev") and 100% equity of Chengdu Xinzhu Transportation Technology Co., Ltd. (hereinafter referred to as "Xinzhu Transportation") to optimize its asset structure [3]. Group 2: Background and Ownership Changes - In March 2023, Shudao Group became the controlling shareholder of Xinzhu Co. after acquiring 8.6% and 15.9% of the company's shares from Sichuan Development (Holding) Co., Ltd. [4]. - As of May 2023, Shudao Group holds a total of 24.5% of Xinzhu Co.'s shares, while the actual controller remains the Sichuan Provincial State-owned Assets Supervision and Administration Commission [4]. Group 3: Business Focus and Financial Performance - Xinzhu Co. focuses on three main industries: public transportation components, rail transit, and new energy photovoltaic power generation, establishing a business model of "advanced manufacturing + photovoltaic power generation" [4]. - In 2024, Xinzhu Co. achieved revenue of approximately 2.483 billion yuan, with the photovoltaic power generation segment contributing about 647 million yuan, accounting for 26.05% of total revenue and a gross margin of 60.34% [4]. Group 4: Industry Implications and Future Outlook - The restructuring is expected to clarify and focus Xinzhu Co.'s business layout, allowing it to concentrate on developing clean energy, which is seen as a sector with significant growth potential [5][6]. - The establishment of Sichuan Energy Development Group aims to consolidate clean energy assets for better management and operational efficiency, promoting investment in clean energy projects and accelerating the development of the clean energy industry [7].

Summary of Sichuan Road and Bridge Group Conference Call Company Overview - **Company**: Sichuan Road and Bridge Group - **Industry**: Infrastructure and Construction Key Points Financial Performance - In Q1 2025, the company reported revenue of 23 billion yuan, a year-on-year increase of 4%, and a net profit of 1.774 billion yuan, up 1% year-on-year, marking four consecutive quarters of growth [2][3] - For the full year 2024, the company achieved revenue of 107.2 billion yuan and a net profit of 7.2 billion yuan, with total assets of 239.7 billion yuan and earnings per share of 0.83 yuan [3] New Contracts and Orders - The company secured 77 new projects in Q1 2025, totaling 34.7 billion yuan, a nearly 20% increase year-on-year [2] - The total backlog of orders exceeded 290 billion yuan by the end of 2024, with expectations to surpass new highs in 2025 [2][3] Infrastructure Investment in Sichuan - Sichuan's infrastructure investment is projected to reach 268 billion yuan in 2025, with a goal of 280 billion yuan [2][5] - The focus on highway construction is emphasized to offset slowdowns in rail and water transport investments, providing business support for Sichuan Road and Bridge [2][5] Strategic Business Adjustments - The company divested its mining, new materials, and clean energy businesses, completing the transaction on February 26, 2025, which is expected to enhance financial performance [2][7] - The company retains a 40% stake in these divested businesses, which could provide future earnings support if they become profitable [7] Collaboration with Shudao Group - Shudao Group plays a dominant role in highway construction in Sichuan, with over 80% of its projects pending, and plans to invest over 192 billion yuan in 2025 [2][8] - This partnership is expected to enhance the company's market competitiveness and provide high-quality project opportunities [8] Cash Flow Management - The company improved cash flow management, reducing accounts receivable from over 27 billion yuan at the end of 2024 to around 20 billion yuan in Q1 2025 [4][13] - The impact of Sichuan's debt resolution on the company is minimal, as project funding primarily relies on major shareholder investments [14][15] Future Outlook - The company commits to a dividend payout ratio of no less than 60% over the next three years, supported by the synergistic effects of its collaboration with Shudao Group [4][20] - The company anticipates stable growth in the next 3 to 5 years, with expected project totals exceeding 500 billion yuan [21][22] Challenges and Responses - The company faces challenges in project quality and timely execution but has received supportive policies from various government departments to facilitate development [23] - Sichuan Road and Bridge aims to optimize internal assets and focus on its core business to enhance financial performance [23] Market Position - Sichuan Road and Bridge is a leading player in the western infrastructure sector, with a strong focus on investor returns and a high dividend rate compared to peers [24][26] - The company is optimistic about future growth, bolstered by policy support and a focus on core operations [26] Geographic Focus - The company primarily operates in the Sichuan-Chongqing region, with about 86% of its business concentrated locally, while also expanding into other provinces and overseas markets [18] International Projects - The company has engaged in international projects, including a recent contract for a bridge in Tunisia worth 1.4 billion yuan and ongoing projects in the UAE and Bangladesh [19] This summary encapsulates the key insights from the conference call, highlighting the company's financial performance, strategic initiatives, market position, and future outlook.

Core Viewpoint - New筑股份 is planning a significant asset restructuring to address competition issues with its controlling shareholder, 四川蜀道清洁能源集团有限公司, by acquiring a 60% stake in it and divesting certain subsidiaries [1][4][7]. Group 1: Asset Restructuring Details - New筑股份 intends to acquire 60% of 四川蜀道清洁 and sell 100% of 四川发展磁浮科技有限公司 and 新筑交通科技有限公司 [1][4]. - The restructuring aims to eliminate competition between New筑股份 and its controlling shareholder, while also focusing on strengthening its core businesses in轨道交通 and光伏发电 [4][10]. - 四川路桥, a listed company with a market value of 806.5 billion, is involved in the asset transfer process [1][4]. Group 2: Financial Overview - As of the end of 2024, 四川蜀道清洁 has total assets of 308 billion and reported revenue of 1.17 billion with a net profit of 62.34 million [4][8]. - New筑股份 reported total revenue of 2.483 billion last year, with a net loss of 409 million, where轨道交通业务 accounted for over 50% of total revenue [8][10]. - The revenue from the bridge component business, primarily handled by 新筑交科, was 429.9 million, representing 17.94% of New筑股份' total revenue [10]. Group 3: Business Segments - New筑股份 operates in three main business segments:轨道交通,光伏发电, and桥梁功能部件, with the latter being the focus of the divestiture [4][10]. - The company has four main subsidiaries, with two of them being targeted for divestiture in the restructuring plan [8][10]. - The restructuring reflects an internal business reorganization within蜀道集团, which recently became the controlling shareholder of New筑股份 [10][11].

金融界5月26日消息，上证指数低开震荡，中证全指建筑与工程指数 (建筑工程，H30195)报3572.10点。 数据统计显示，中证全指建筑与工程指数近一个月下跌0.46%，近三个月下跌2.46%，年至今下跌 6.61%。 从中证全指建筑与工程指数持仓的市场板块来看，上海证券交易所占比78.88%、深圳证券交易所占比 21.12%。 从中证全指建筑与工程指数持仓样本的行业来看，基础设施建设占比48.77%、房屋建设占比20.36%、 专业工程占比20.10%、建筑设计及服务占比9.23%、园林工程占比1.55%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。遇临时调整时，当中证全指指数调整样本时，中证全指行业指数样 本随之进行相应调整。在样本公司有特殊事件发生，导致其行业归属发生变更时，将对中证全指行业指 数样本进行相应调整。当样本退市时，将其从指数样本中剔除。样本公司发生收购、合并、分拆等情形 的处理，参照计算与维护细则处理。 据了解，为 ...

Core Viewpoint - Sichuan state-owned assets are actively promoting asset integration, with New筑股份 planning asset sales and share issuance to address competition issues with its controlling shareholder [1][2] Group 1: Asset Restructuring - New筑股份 announced a major asset restructuring plan involving the acquisition of 60% equity in 四川蜀道清洁能源集团有限公司 (蜀道清洁) and the sale of 100% equity in 四川发展磁浮科技有限公司 and 成都市新筑交通科技有限公司 [2][4] - The restructuring aims to resolve competition issues between蜀道清洁 and New筑股份, with the transaction expected to constitute a significant asset restructuring and related party transaction [2][4] - The company is currently in the planning stage of the transaction, which involves issuing shares to purchase assets and may include raising matching funds [1][2] Group 2: Financial Performance - In 2024, New筑股份 is projected to generate revenue of 2.483 billion yuan, with the photovoltaic power generation business contributing 647 million yuan, accounting for 26.05% of total revenue [2] - The photovoltaic business has a gross profit margin of 60.34%, indicating strong profitability in this segment [2] Group 3: Business Operations - New筑股份' photovoltaic power generation business is primarily conducted through its subsidiary, 晟天新能源, which has invested in 22 photovoltaic power stations with a total installed capacity of 1,958.52 MW [3] - As of the end of last year, 1,237.53 MW of this capacity was operational, while 720.99 MW was under construction [3] - The company’s photovoltaic stations are mainly located in regions such as Sichuan, Hunan, Hebei, Shanxi, Gansu, Tibet, and Yunnan, with a focus on centralized power generation [3] Group 4: Shareholder Dynamics -蜀道集团 became the controlling shareholder of New筑股份 after acquiring 24.5% of the shares from 四川发展, which previously held a significant stake [4] - The transfer of shares was completed in mid-May, and蜀道集团 has indicated plans to address the competitive situation through asset restructuring and business adjustments [4]

①康弘药业：子公司四川弘合生物收到国家药监局签发的《药物临床试验批准通知书》，药品名称为注 射用KH617。 ②新筑股份：公司5月23日收到控股股东蜀道集团出具的函，为了尽快解决蜀道集团控制的四川蜀道清 洁能源集团有限公司与公司的同业竞争问题，蜀道集团拟以所持有的四川蜀道清洁能源集团有限公司 60%股权与公司进行资产重组，由公司通过发行股份及支付现金方式购买四川蜀道清洁能源集团有限公 司60%股权；同时，由公司向四川蜀道轨道交通集团有限责任公司出售四川发展磁浮科技有限公司 100%股权及对其享有的债权，向四川路桥建设集团股份有限公司（或其指定的子公司）出售成都市新 筑交通科技有限公司100%股权及对其享有的债权，并视具体情况募集配套资金。此次交易预计构成公 司重大资产重组。公司证券自5月26日开市时起停牌，停牌时间预计不超10个交易日。 午间公告：新筑股份停牌筹划购买控股股东旗下资产 智通财经5月26日电，今日午间公告主要有： ...