Group 1 - The company emphasizes the importance of market value management and focuses on core business, technological innovation, and improving operational efficiency to strengthen intrinsic value [2] - The company maintains a stable dividend policy to create long-term returns for investors [2]

Core Viewpoint - The company emphasizes that business management is the core of market value management and is committed to enhancing operational performance while utilizing various market value management tools to increase investment value [1] Group 1 - The company encourages investors to pay attention to its periodic reports for updates on business conditions [1] - The company believes that improving operational performance is essential for enhancing investment value [1] - The company is actively using multiple market value management tools to boost its investment attractiveness [1]

Core Viewpoint - The company acknowledges that its current stock price is influenced by multiple complex factors, including macroeconomic conditions and industry cycles, and emphasizes that shareholder reductions are personal actions [1] Group 1: Company Strategy - The company places significant importance on market value management and aims to address the long-standing issue of being "underwater" as a core task [1] - A valuation enhancement plan has been developed, focusing on "value creation, value management, and value transmission" [1] - The plan aims to enhance the core competitiveness of the main business by strengthening operational management, optimizing asset quality, and improving effective communication with the capital market [1] Group 2: Commitment to Investors - The company is committed to aligning its intrinsic value with market value, striving for steady development and long-term returns to reward investor trust [1]

Core Viewpoint - The company emphasizes that stock price fluctuations are influenced by multiple factors and is committed to enhancing its core competitiveness through comprehensive strategies in brand image building, investor relations management, and social responsibility fulfillment [1] Group 1 - The company places high importance on market value management [1] - The company aims to achieve high-quality development results to give back to society and investors [1]

（编辑 任世碧） 证券日报网讯 1月5日，中国交建在互动平台回答投资者提问时表示，公司正深入学习四中全会会议精 神，针对重大会议提及的2026年财政货币及基建政策开展深度研究，并结合行业发展趋势与公司实际， 科学研讨制定生产经营计划及全面预算。2026年，公司将依托核心竞争力稳步推进经营举措、持续完善 市值管理工作，相关具体内容敬请关注公司后续公开披露信息。 ...

证券日报网讯1月5日，中铁装配（300374）在互动平台回答投资者提问时表示，公司始终高度重视市值 管理工作，严格遵循《上市公司监管指引第10号——市值管理》等监管要求，积极落实国资委《提高央 企控股上市公司质量工作方案》相关部署。公司坚持聚焦主营业务，持续提升公司内在价值与投资回报 能力，致力于为股东创造长期、稳定的价值。 ...

Core Insights - The report by the China Listed Companies Association highlights the transition of China's market value management system from advocacy to institutionalization and practice by 2025, reflecting national strategic guidance and a more systematic policy approach [1][3] Market Performance - As of December 31, 2025, the Shanghai Composite Index increased from 3351.76 points at the beginning of the year to 3968.84 points, representing an 18.4% year-on-year growth [1][3] - The total number of A-share listed companies reached 5469, with a total market capitalization of 123 trillion yuan, including 116 new listings in 2025 [1][3] - The total market capitalization of existing companies (5353 companies listed before January 1, 2025) grew by 22.5% year-on-year [1][3] - The average price-to-book ratio of A-share listed companies rose from 3.3 at the beginning of the year to 4.4 by year-end [1][3] - The proportion of A-shares in public funds increased by 2.4 percentage points, indicating investor recognition of China's high-quality economic transformation and technological innovation [1][3] Industry Insights - Technology-driven industries saw significant market value increases, with the total market capitalization of high-tech enterprises in manufacturing and scientific research and technical services growing by 33.3% and 32.1% respectively, increasing their share of A-share market capitalization by 4.2 and 0.1 percentage points [2][4] - Nearly half of the listed companies in manufacturing and scientific research and technical services achieved a return on equity (ROE) greater than 5% in 2025, providing support for valuations [2][4] - Public funds showed increased investment in information transmission, software, and information technology services, with a 0.6 percentage point rise in fund allocation to these sectors by the third quarter of 2025 [2][4] - Private technology innovation companies performed actively, with an overall market capitalization growth of 37.0%, raising their share of A-share market capitalization from 33.6% at the beginning of the year to 37.5% [2][4] - State-owned companies accounted for nearly 50% of A-share market capitalization [2][4]

证券日报网讯1月5日，中国电建（601669）在互动平台回答投资者提问时表示，当前股价受宏观环境、 行业周期等多重复杂因素影响。公司高度重视市值管理工作，将解决长期"破净"问题作为一项核心工 作，制定《估值提升计划》，围绕"价值创造、价值经营、价值传递"三个环节，聚焦提升经营质量和核 心竞争力，以稳健的业绩和规范的治理回报广大投资者的信任。 ...

（文章来源：证券日报） 证券日报网讯 1月5日，维科技术在互动平台回答投资者提问时表示，二级市场股价波动受宏观经济、 行业政策、市场情绪等多种因素综合影响。公司始终密切关注股票市场的变化，并且十分重视公司的市 值管理。 ...

Overall Market Performance - In 2025, the A-share market saw a significant increase, with the Shanghai Composite Index rising from 3351.76 points at the beginning of the year to 3968.84 points by year-end, reflecting an 18.4% year-on-year growth [4][18] - The total number of A-share listed companies reached 5469 by the end of 2025, with a total market capitalization of 123 trillion yuan, marking a 22.5% increase for existing companies compared to the previous year [4][18] - The average price-to-book ratio of A-share companies increased from 3.3 at the beginning of the year to 4.4 by year-end, indicating a steady rise in market valuation [4][18] Industry Performance - Technology-driven industries, particularly high-tech manufacturing and scientific research, experienced substantial market capitalization growth, with total market values increasing by 33.3% and 32.1% respectively [5][18] - Nearly half of the listed companies in manufacturing and scientific research sectors reported a return on equity (ROE) greater than 5%, providing a solid foundation for valuation support [5][18] - Private technology companies showed remarkable performance, with an overall market capitalization growth of 37.0%, increasing their share of the A-share market from 33.6% to 37.5% [5][18] Company-Specific Performance - The top 150 companies by absolute market capitalization growth included major players such as Agricultural Bank of China, Industrial Fulian, and Contemporary Amperex Technology, indicating strong performance across various sectors [20] - The financial sector, represented by companies like Agricultural Bank and Industrial Bank, played a significant role in the overall market growth, reflecting investor confidence in the banking industry [21] - Companies in the manufacturing sector, such as Industrial Fulian and Contemporary Amperex Technology, demonstrated significant market value increases, highlighting the sector's contribution to the overall market performance [21]