深部岩土工程扰动模拟设施项目是由中国科学院武汉岩土力学研究所承建的"十四五"规划国家重大科技 基础设施项目。项目投用后能够全面揭示工程扰动条件下深部岩土体结构、状态与行为演变规律，为交 通、水利、能源等领域工程建设加速向深部拓展提供重要科技支撑。项目分为地镜样机实验室、测试分 析中心、岩样制备中心三个区域。目前已完成基建及设备工艺的重大节点验收，预计下半年完成财务、 档案验收工作。（作者方亚东 梅斓琪 王雨彤） ...

Group 1 - The company Zhongyan Dadi (SZ 003001) announced the convening of its 36th board meeting on September 1, 2025, to discuss the proposal for changing registered capital and amending the company’s articles of association [1] - For the first half of 2025, the revenue composition of Zhongyan Dadi was as follows: Geotechnical engineering accounted for 94.16%, product sales 4.87%, environmental remediation 0.53%, and others 0.44% [1] - As of the report date, Zhongyan Dadi's market capitalization was 4.7 billion yuan [1]

Group 1 - The company Zhongyan Dadi announced a provision for various impairment losses totaling 8.8358 million yuan, which will reduce the profit total for the first half of 2025 by the same amount and decrease the owner's equity by 8.8358 million yuan. This amount has not been confirmed by the annual audit accounting firm [1] - For the year 2024, the revenue composition of Zhongyan Dadi is as follows: geotechnical engineering accounts for 78.42%, product sales account for 17.07%, environmental remediation accounts for 2.64%, and others account for 1.87% [1] - As of the report date, the market capitalization of Zhongyan Dadi is 5 billion yuan [1]

Group 1 - The company reported a revenue of 361 million yuan for the first half of 2025, representing a year-on-year decrease of 11.77% [1] - The net profit attributable to shareholders of the listed company was 20.75 million yuan, showing a year-on-year increase of 2.69% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 19.08 million yuan, which is a year-on-year decrease of 6.59% [1] - The basic earnings per share were 0.1638 yuan [1]

Summary of Zhongyan Dadi Conference Call Company Overview - Zhongyan Dadi has successfully transformed its strategy, reducing its real estate order proportion to below 17% while actively expanding into nuclear power, ports, and water conservancy sectors [2][4][3] - The company has implemented an option incentive plan, reflecting confidence in future performance growth, with exercise prices set at 11.25 yuan and performance assessment indicators requiring net profit growth of no less than 300% in 2024 and 500% in 2025 [2][4] Core Technologies and Innovations - Achievements in safety control and green efficient technology for weak soil foundation projects have earned the company a national technology invention second prize [2][4] - Key technologies include DMC high-speed high-pressure foot spraying composite pile technology, SGOT intelligent sensing super spraying technology, and DDM information dynamic detection technology, enhancing the company's competitiveness in intelligence and digitalization [2][4] Market Expansion and Strategic Positioning - Zhongyan Dadi is evolving from a builder to a major problem solver, leveraging experiences from Japan and actively expanding into overseas markets, particularly along the Belt and Road Initiative [2][5] - The company has secured significant projects, such as the Jin Qimen nuclear power project, with an estimated market share of 50% for each unit, indicating strong growth potential [2][6] Management Team and Expertise - The management team is well-structured, featuring industry experts like Academician Wang Shiyan, with a high proportion of master's degree holders and numerous registered geotechnical engineers [2][7] - The team’s expertise in materials, equipment, and engineering integration provides a solid foundation for future development [2][7] Nuclear Power Sector Developments - Despite a decline in revenue, the company has achieved a gross margin of 24.89%, indicating improved profitability [2][8] - The company ensures the approval of at least 10 nuclear units annually, with significant demand expected from the construction of 41 third-generation nuclear units from 2022 to 2025 [3][8] Port Construction Insights - Recent policy relaxations have led to the initiation of large projects, such as the Zhoushan Port, with the company securing an 80 million yuan order, establishing a foothold in high-barrier industries [2][10] - The demand for traditional products like soil solidifiers is expected to rise due to the need for detailed surveys and improvements in coastal sediment mechanics [2][10] Water Conservancy Sector Potential - China's hydropower installed capacity is projected to reach approximately 440 million kilowatts by the end of 2024, with significant room for development compared to other countries [2][11] - The company is involved in key projects like the Pinglu River and Zhangjing Bridge, achieving breakthroughs in precision detection technology, which may lead to substantial orders by year-end [2][11] International Market Development - The company is actively expanding into Southeast Asia, with projects in Vietnam, Singapore, and Malaysia, and has established subsidiaries to support this growth [2][16] - Strategic partnerships with leading digital and AI companies in the construction sector are being formed to enhance project development in the region [2][16] Industry Outlook and Comparisons - The geotechnical engineering market in China is approximately 7 to 10 times larger than that of Japan, with significant growth potential driven by urbanization and infrastructure needs [2][18] - The industry is expected to undergo a concentration process, with domestic companies like Zhongyan Dadi poised for broader development opportunities [2][18] Financial Projections - Forecasts indicate that the company will achieve net profits of 150 million, 280 million, and 430 million yuan from 2025 to 2027, with corresponding earnings per share of 0.85 yuan, 1.56 yuan, and 2.41 yuan [2][26] - The company is expected to secure over 100 million yuan in orders by 2025, with a gross margin approaching 40% [2][26]

（文章来源：每日经济新闻） 华金证券8月20日发布研报称，给予中岩大地（003001.SZ，最新价：27.87元）增持评级。评级理由主 要包括：1）战略转型顺利，盈利能力显著修复；2）核电、港口、水利水电三大领域齐发力，成长动能 充沛；3）他山之石，岩土工程大有可为。风险提示：下游领域投资不及预期、市场竞争加剧、技术迭 代与研发风险、海外市场拓展不及预期。 ...

Group 1 - The stock price of Zhonghua Rock and Soil closed at 3.87 yuan on August 13, down 0.02 yuan, a decrease of 0.51% from the previous trading day [1] - The trading volume on that day was 560,631 hands, with a transaction amount of 217 million yuan [1] - Zhonghua Rock and Soil's main business includes geotechnical engineering, underground engineering, and municipal engineering, with involvement in low-altitude economy and new urbanization [1] Group 2 - On August 13, the company announced that the board approved several proposals, including a related party transaction regarding guarantees provided by the controlling shareholder, which faced opposition from one director [1] - The opposing director argued that charging a 1% guarantee fee was unreasonable given that counter-guarantee measures had already been provided [1] - The company plans to apply for a guarantee limit of no more than 2 billion yuan from the controlling shareholder, with a term of three years [1] Group 3 - On August 13, the net outflow of main funds for Zhonghua Rock and Soil was 20.94 million yuan, with a cumulative net outflow of 30.54 million yuan over the past five trading days [1]

Group 1 - Shanghai Port Bay clarifies that its main business is geotechnical engineering, with perovskite solar cell and commercial aerospace businesses contributing less than 0.5% to revenue, both currently in a loss state [1] - The announcement aims to remind investors to rationally assess the company's fundamentals amidst market speculation regarding perovskite solar cells and commercial aerospace [1] - The statement may impact short-term stock price volatility but is expected to facilitate a more rational evaluation of the company's value in the long term [1] Group 2 - Hubei Energy reported a total power generation of 4.338 billion kWh in July, a year-on-year decrease of 8.6%, with hydropower generation down 69.31% and thermal power up 41.67% [2] - The increase in renewable energy generation by 27.29% indicates growth potential in this sector, despite a cumulative decrease of 3.6% in total power generation from January to July [2] - The data reflects the company's ability to adjust operations in response to reduced hydropower supply and highlights a gradual shift in its business structure [2] Group 3 - Trina Solar announced that its major shareholder, Youze Venture Capital Group, plans to reduce its stake by up to 0.5724% (approximately 12.47 million shares) within three months starting from September 2, 2025 [3] - The reduction is attributed to the shareholder's own development and funding needs, and while the percentage is small, it may influence market sentiment [3] - The planned share reduction will not lead to a change in company control, as it involves a minor percentage of the total shares [3]

Core Viewpoint - As of July 30, 2025, Zhonghua Geotechnical's stock price closed at 3.95 yuan, reflecting a decrease of 0.11 yuan or 2.71% from the previous trading day [1] Group 1: Company Overview - Zhonghua Geotechnical's main business includes geotechnical engineering, underground engineering, and municipal engineering in the fields of surveying, design, and construction [1] - The company operates in sectors such as engineering construction and the Beijing sector [1] Group 2: Market Performance - On July 30, Zhonghua Geotechnical recorded a trading volume of 1.46 million hands, with a transaction amount reaching 581 million yuan [1] - The net outflow of main funds for Zhonghua Geotechnical on the same day was 61.97 million yuan, accounting for 0.89% of its circulating market value [1] - Over the past three days, the state-owned enterprise reform concept sector saw significant net outflows, with Zhonghua Geotechnical ranking among the top decliners in this sector [1]

Basic Information - Beijing Zhongyan Dadi Technology Co., Ltd. has completed the registration of changes in registered capital and business scope, and has obtained a new business license from the Market Supervision Administration of Tongzhou District, Beijing [1][2] - The company held a general meeting in April 2025, where it approved the proposal to change its business scope, registered capital, and amend the Articles of Association [1] Capital and Business Scope Changes - The registered capital has changed from 126.731886 million yuan to 126.334151 million yuan [1] - The business scope has been updated to include a wider range of services such as technology services, engineering contracting, environmental protection monitoring, and various sales including machinery and building materials [1][2] - The company is now allowed to engage in new areas such as artificial intelligence software development and cloud computing equipment sales [1][2] Regulatory Compliance - The company will continue to operate in compliance with national and local industrial policies, and will only engage in projects that have been approved by relevant authorities [2]