英国伯明翰国际混凝土展览会UK CONCRETE SHOW是业内人士亲眼观看新产品、建立联系并了解该 行业最新发展的年度聚会场所，展示该领域的最新产品和创新技术，帮助您提高企业生产力并保持竞争 优势。 参展商评价 中国组展机构：盈拓展览，以创新科技和服务体验为核心，不断提升服务质量。荣获多项殊荣，成为中 国出境展览服务行业的佼佼者。 "这次展会非常成功。我们的设备销售线索很多，事实证明，它为我们拓展英国混凝土行业市场提供了 一个理想的平台。我们期待未来继续与展会保持合作关系。"——迪恩·贝茨，JCB 下届展会时间：2026年03月25号~03月26号 "今年展台上非常热闹，核心市场客户数量众多，而且他们都认真考虑投资新产品。"——丹·福德姆·丹 福德 "能够向大家展示我们的搅拌机，与老客户见面，并建立新的联系，真是太棒了。UK CONCRETE SHOW 是业内历史悠久的展览会，我们会继续支持它。"——伊丽莎白·理查森，总理 MPB "对于一家外国公司来说，这是一个非常重要的活动，可以借此机会与英国各界人士会面……我们希望 继续在英国拓展业务，而这是实现这一目标的最佳途径。"——Gianni Cardoni， ...

华盛国际控股(01323)发布公告，本集团预期将于本期间(截至2025年9月30日止6个月)取得未经审核本公 司拥有人应占亏损净额不少于4100万港元，而截至2024年9月30日止6个月(相应期间)则为约2440万港 元。 中华人民共和国房地产市场低迷及建筑活动放缓，对集团的混凝土业务造成负面影响，导致预拌商品混 凝土产品的需求减少。因此，收益较相应期间大幅下滑约3860万港元或19.3%。此外，原材料成本攀升 及价格竞争加剧持续对集团的毛利率施加压力，导致毛利较相应期间下降约2450万港元;由于本期间分 占联营公司亏损增加约550万港元;及由于借贷总额规模减少，融资成本较相应期间减少约580万港元。 董事会认为本公司拥有人于本期间应占亏损净额增加主要归因于下列因素的综合影响： ...

智通财经APP讯，华盛国际控股(01323)发布公告，本集团预期将于本期间(截至2025年9月30日止6个月) 取得未经审核本公司拥有人应占亏损净额不少于4100万港元，而截至2024年9月30日止6个月(相应期间) 则为约2440万港元。 中华人民共和国房地产市场低迷及建筑活动放缓，对集团的混凝土业务造成负面影响，导致预拌商品混 凝土产品的需求减少。因此，收益较相应期间大幅下滑约3860万港元或19.3%。此外，原材料成本攀升 及价格竞争加剧持续对集团的毛利率施加压力，导致毛利较相应期间下降约2450万港元;由于本期间分 占联营公司亏损增加约550万港元;及由于借贷总额规模减少，融资成本较相应期间减少约580万港元。 董事会认为本公司拥有人于本期间应占亏损净额增加主要归因于下列因素的综合影响： ...

Core Viewpoint - Yunnan Construction Investment Concrete (01847) announced that its shares will be temporarily suspended from trading starting at 9:00 AM on November 18, 2025 [1] Company Summary - The company is set to halt trading of its shares for a specified period, indicating a significant event or development that may impact its operations or market perception [1]

丨证券研究报告丨 [Table_Summary] 公司披露 3 季报：实现收入 151 亿，同比下降 4.5%；净利润 3.3 亿，同比增长 7.3%。测算 25Q3 公司归属净利润 0.24 亿，同期为 1.43 亿；同比下降 83%。 分析师及联系人 [Table_Author] 范超 李金宝 SAC：S0490513080001 SAC：S0490516040002 SFC：BQK473 SFC：BVZ972 [Table_scodeMsg1] 港股研究丨公司点评丨华润建材科技（01313.HK） [Table_Title] 基本面承压，叠加管理费用增加，盈利下滑 报告要点 请阅读最后评级说明和重要声明 %% %% 就公司层面来看：1、公司 2025 年前 3 季度水泥和熟料合计销量 3943 万吨，同比下降 10%，水泥销量降幅大于行业，体现出公司积极维护市场价格体系的自律担当；价格 232 元/吨，同比下降 6 元/吨；2、混凝土销量 1046 万方，同比增长 26%；价格 296 元/方， 同比下降 38 元/方；3、骨料销量 5859 万吨，同比增长 27%；价格 34.7 元/吨，同比下 降约 ...

Core Viewpoint - The announcement details the ongoing litigation and arbitration matters involving Chongqing Sifang New Materials Co., Ltd., highlighting the financial implications and the company's legal actions against a contractor for unpaid debts [2][6][8]. Summary by Sections Litigation Overview - The company has initiated a lawsuit against Chongqing Construction First Municipal Engineering Co., Ltd. for a total overdue payment of 9,506,335.74 yuan related to a materials procurement contract [3][5][6]. - As of April 1, 2025, the company has faced a total of 84 litigation and arbitration cases, with a cumulative amount of 221,590,539.49 yuan involved [2][11]. Financial Impact - The total amount involved in the current litigation is 9,791,525.81 yuan, which includes the overdue payment and associated costs [7][10]. - The ongoing litigation may have uncertain impacts on the company's current and future profits, as the outcomes of the cases are still pending [2][8]. Case Details - The company supplied concrete to the contractor under a contract signed on September 14, 2022, with a total invoiced amount of 24,593,357.98 yuan, of which only 15,087,022.24 yuan has been paid [4][5]. - A mediation agreement was reached on May 27, 2025, stipulating that the contractor must pay the remaining amount in five installments by September 30, 2025 [8]. Additional Litigation - From April 1, 2025, to September 2, 2025, the company has reported an additional 56 litigation and arbitration cases, totaling 225,502,386.82 yuan, with 36 new cases reported after September 2, 2025, amounting to 9,310.33 million yuan [11].

Summary of the Announcement - The company held a Q3 2025 performance briefing on November 6, 2025, via the Shanghai Stock Exchange's online platform, addressing investor concerns [2][4] - Key executives, including the chairman and financial officer, participated in the briefing [2] Group 1: Company Performance and Future Outlook - The company is currently advancing its transformation and upgrade plans according to its 2025 work schedule [4] - The Q3 report showed a reduction in losses compared to the H1 report, but the company did not provide specific guidance on profitability for the full year [4] - The company’s prefabricated concrete projects have been delayed until March 2026, with some production capabilities already established [4] - The price of C30 concrete in Chongqing as of September 2025 was reported at 290 RMB per cubic meter, a decrease of 30 RMB year-on-year [4][5] - Real estate new construction in Chongqing saw a decline of 28% year-on-year for the first nine months of 2025, while infrastructure investment increased by 5% [5] Group 2: Investor Engagement and Communication - The company did not receive any questions from investors prior to the briefing [3] - The management expressed gratitude for investor suggestions regarding regular updates on transformation progress [5] - Investors can access the details of the briefing and related records through the Shanghai Stock Exchange's platforms [5]

Group 1 - The core viewpoint of the article is that Sifang New Materials (605122.SH) has seen an increase in institutional and public fund holdings as of the third quarter of 2025, indicating growing investor interest [1][2] Group 2 - As of October 28, 2025, six institutional investors hold a total of 5.179 million shares of Sifang New Materials, accounting for 3.00% of the total share capital, with a 0.18 percentage point increase from the previous quarter [1] - The institutional investors include notable entities such as Fujian Jinjiang October Hualong Equity Investment Partnership, China Construction Bank, and Barclays Bank PLC [1] Group 3 - Among public funds, one fund, Nuon Multi-Strategy Mixed A, increased its holdings by 0.52% compared to the previous period [1] - One new public fund disclosed its holdings this quarter, namely CITIC Prudential Multi-Strategy Mixed (LOF) A, while 18 public funds did not disclose their holdings this quarter [1]

Financial Data and Key Metrics Changes - Consolidated EBITDA rose sharply, increasing at a double-digit rate, with significant margin gains driven by cost savings and higher prices [5][6][8] - EBITDA margin expanded by 2.5 percentage points, reaching its highest level for a third quarter since 2020 [7][11] - Free cash flow from operations improved significantly, reaching approximately $540 million, an increase of over $350 million year-over-year [25][26] Business Line Data and Key Metrics Changes - In Mexico, EBITDA grew by 11%, driven by a leaner cost base and higher prices despite lower volumes [16] - The U.S. operations achieved record third-quarter EBITDA and margins, supported by increased cost efficiencies and higher prices [18][19] - The EMEA region saw strong performance, with new records in EBITDA and margins, particularly in Eastern Europe and the Middle East [22][23] Market Data and Key Metrics Changes - Demand conditions in Mexico are showing signs of improvement, with average daily cement sales volume outperforming historical patterns [16] - In the U.S., infrastructure demand remains strong, while residential sector weakness persists [19][52] - The South Central America and Caribbean region posted impressive results, with EBITDA rising by 54% [24] Company Strategy and Development Direction - The company is focused on operational excellence and delivering industry-leading shareholder returns, with a strategic plan aimed at enhancing profitability and free cash flow conversion [4][13] - Project Cutting Edge aims for annualized recurring EBITDA savings of $400 million by 2027, with significant progress already made [11][12] - The company is prioritizing small to mid-size acquisitions in the U.S. and divesting non-core markets to strengthen its position [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in demand conditions, particularly in Mexico and the U.S., with expectations for volume growth in 2026 [18][39] - The company anticipates continued improvements in free cash flow conversion and operational efficiency as it progresses with its strategic initiatives [26][29] - Management highlighted the importance of maintaining a disciplined approach to capital allocation while pursuing growth opportunities [13][66] Other Important Information - The company completed the divestment of its operations in Panama and consolidated Couch Aggregates into its U.S. business [2][3][14] - The company is committed to decarbonization efforts, having surpassed the European Cement Association's 2030 CO2 emissions target [6][23] Q&A Session Summary Question: What should we expect for cash conversion next year and 2027? - Management targets around 45% free cash flow conversion from operations in 2026, with further improvements expected beyond that [32] Question: Can we expect a recovery in Mexico's demand volumes? - Management is confident that demand volumes in Mexico should grow by at least 2.5% to 3% next year, driven by infrastructure projects [38] Question: What contributed to the EBITDA margin expansion in Mexico? - The 500 basis points improvement was driven by price increases, reductions in SG&A, and lower variable costs, including energy [42] Question: How does the company view CCUS initiatives? - Management emphasized that CCUS remains a mid-term priority, but will only be pursued if it is accretive to value creation [45][46] Question: What is the outlook for U.S. M&A? - The company is actively looking at family-owned aggregate targets in the U.S. and is strengthening its team for bolt-on acquisitions [73]

Group 1 - The core viewpoint of the article highlights the financial performance of Sifang New Materials, indicating a significant decline in revenue and a net loss for the third quarter of 2025 [1] - Sifang New Materials reported revenue of approximately 778 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 24.18% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 35.76 million yuan, with basic earnings per share reflecting a loss of 0.21 yuan [1] Group 2 - As of the report, Sifang New Materials has a market capitalization of 2.4 billion yuan [2] - The A-share market has recently surpassed 4000 points, indicating a resurgence after a decade of stagnation, with technology leading the market's transformation [2]