Core Insights - Guangdong Province plans to arrange 1,500 key construction projects by 2025, with an annual investment target of 1 trillion yuan [1] - From January to May this year, the investment in key projects reached 452.2 billion yuan, accounting for 45.2% of the annual investment plan [1] - A total of 105 projects, including the second phase of the Hong Kong University of Science and Technology (Guangzhou) and a 10,000-ton carbon fiber project by Donghua Energy (Maoming), have commenced construction [1] Investment Projects - Ongoing projects include the Guanghe High-speed Railway segment from Baiyun Airport T3 to Jiangcun West, the Nansha to Zhuhai (Zhongshan) intercity railway, and the third phase expansion of Guangzhou Baiyun International Airport [1] - Other significant projects under construction are the Shenzhen Outer Ring Expressway (Phase III), Yangjiang Fanshi No.1 offshore wind farm, the second phase of Taipingling Nuclear Power Plant, and the South China Titanium Valley project [1] - The Longma Group's high-end equipment manufacturing base project in Yangjiang is also progressing smoothly [1]

Core Viewpoint - The "14th Five-Year Plan for Green Transportation" encourages the large-scale application of industrial solid waste in transportation construction, highlighting significant breakthroughs in the resource utilization of solid waste in the road transportation sector [1][5]. Group 1: Policy and Implementation - The Ministry of Transport has approved the completion of the pilot task for "Research and Industrial Application of Solid Waste Resource Utilization Technology," achieving all expected goals [1][2]. - The pilot project has established a comprehensive solution for the application of solid waste in road construction, effectively controlling environmental risks associated with solid waste [2][3]. Group 2: Achievements and Impact - Since the implementation of the pilot, a total of 493 million tons of various solid waste have been utilized across 102 kilometers of demonstration roads, resulting in a reduction of construction material costs by 500 million yuan and a decrease in carbon emissions by 61,000 tons [3]. - The pilot has successfully created a closed-loop system for solid waste resource utilization in road construction, covering the entire process from raw material selection to quality control [3]. Group 3: Technological Innovations - The research institute has developed innovative technologies for the resource utilization of phosphogypsum and electrolytic manganese slag, achieving significant breakthroughs in construction processes and establishing performance databases [4]. - Various special geotechnical treatment technologies have been developed and successfully applied in different climatic regions, addressing local solid waste material challenges [4]. Group 4: Local Initiatives - Jiangxi Province has pioneered the development of local standards for the use of lithium slag in roadbed engineering, resulting in cost savings exceeding 3 million yuan and a reduction in carbon emissions by 480 tons [5]. - Shanxi Province has effectively utilized over 200,000 tons of sandstone waste in road construction, significantly reducing costs and land occupation for waste storage [5].

Core Viewpoint - The transportation infrastructure projects in Guangdong are making significant progress in the first half of 2025, contributing to the province's goal of reaching 12,000 kilometers of expressways by the end of the 14th Five-Year Plan [1][6]. Group 1: Transportation Projects Progress - Major transportation projects have seen new developments, including the completion of the 218-kilometer "most beautiful tourist road" in Huizhou, which connects scenic areas and enhances local tourism [2][6]. - The construction of the Zeng Tian Expressway is underway, with full surface paving expected to be completed by the end of the year, improving traffic flow in eastern Guangzhou [2][3]. - The Yuedong Intercity Railway has achieved a cumulative investment of 2.142 billion yuan, with significant milestones reached in construction, including the completion of all bridge substructures [4][6]. Group 2: Economic and Social Impact - The transportation projects are not only vital for economic development but also serve as important public welfare initiatives, enhancing the quality of life for residents [2]. - The completion of these projects is expected to reduce travel time significantly, with the Zeng Tian Expressway cutting the distance to downtown Guangzhou by nearly 30 kilometers [3]. - The successful execution of these projects is anticipated to strengthen the transportation network in the Shantou-Chaozhou-Jieyang urban agglomeration, promoting regional integration [4][6]. Group 3: Future Outlook - Guangdong plans to complete nine expressway projects this year, contributing to the overall goal of 12,000 kilometers of expressways by the end of the 14th Five-Year Plan [6]. - Four out of seven planned railway projects are already in the acceptance stage, indicating a strong pipeline for future transportation infrastructure [6].

Core Insights - Guangdong Transportation Group celebrates its 25th anniversary, having expanded its highway network from 501 kilometers in 2000 to 8,181 kilometers by 2025, contributing significantly to the connectivity of the Greater Bay Area [1][2]. Group 1: Highway Development - The group currently has 8 highway projects under construction in the Greater Bay Area, totaling approximately 548.8 kilometers, with 2 new projects starting, covering about 201 kilometers and a total investment of around 2,137 billion [1]. - The highway mileage in Guangdong has seen consistent growth, surpassing 11,700 kilometers by the end of 2024, with the group accounting for 8,181 kilometers, representing about 70% of the province's total highway mileage [2]. Group 2: Economic Impact - The highways have significantly boosted regional economies, with the Guangzhou-Shenzhen Expressway contributing over 400 billion to the economy of the surrounding areas from 2002 to 2020 [2]. - The newly opened Shenzhen-Zhongshan Bridge recorded over 31 million vehicle trips in its first year, facilitating the free flow of talent, goods, capital, and information across the Pearl River Delta [2]. Group 3: Tourism and Business Growth - The influx of tourists due to the Shenzhen-Zhongshan Bridge led to a 102.36% increase in visitors to Zhongshan during the 2024 National Day holiday, generating tourism revenue of 1.968 billion [3]. - The first phase of the Zhongshan Life Science Park has achieved a 65% occupancy rate, attracting over 30 biopharmaceutical companies to establish operations [3]. Group 4: Infrastructure Projects - Ongoing infrastructure projects include the Huangmaohai Cross-Sea Channel, the expansion of the Shenshan and Zhongjiang Highways, and the construction of various expressways, which are enhancing the connectivity of the Greater Bay Area [3].

Key Points - The company plans to repurchase its A-shares with a total fund amounting to no less than RMB 500 million and no more than RMB 1 billion [1][5] - The repurchase will be funded by the company's own funds [5][7] - The repurchase period is set for 12 months from the date of the shareholders' meeting approval [1][3] - The maximum repurchase price is capped at RMB 13.58 per share [1][5] - There are no plans for major shareholders or executives to reduce their holdings in the next six months [1][8] Repurchase Plan Details - The purpose of the repurchase is to enhance shareholder value and investor confidence, and to stabilize and increase the company's market value [3][7] - The repurchased shares will be ordinary shares (A-shares) [3][5] - The repurchase will be conducted through a centralized bidding method on the Shanghai Stock Exchange [3][5] - If the stock is suspended for more than 10 trading days due to major events, the repurchase plan will be postponed accordingly [3][4] Financial Impact - The repurchase is expected to reduce the registered capital of the company [5][8] - Based on the lower limit of RMB 500 million, approximately 45.45 million shares will be repurchased, representing about 0.56% of the total share capital [5][6] - The repurchase will not significantly impact the company's daily operations, financial status, or future development [7][8] Authorization and Compliance - The board of directors is authorized to handle all matters related to the repurchase within the legal framework [9][10] - The company has opened a dedicated account for the repurchase of shares [10]

证券代码：601800 证券简称：中国交建 公告编号：临2025-035 特此公告。 中国交通建设股份有限公司董事会 公司于2025年6月16日召开2024年年度股东会逐项审议通过了《关于回购公司A股股份方案的议案》， 同意公司使用自有资金以集中竞价交易方式回购公司已发行的部分人民币普通股（A股）股票，具体内 容详见公司分别于2025年5月31日及2025年6月17日在上海证券交易所网站（www.sse.com.cn）披露的 《中国交建关于以集中竞价交易方式回购公司A股股份方案的公告》及《中国交建2024年年度股东会决 议公告》。 根据回购方案，为切实维护股东利益，有效增强投资者信心，进一步稳定及提升公司价值，公司拟通过 集中竞价交易方式回购本公司部分A股股份。本次回购完成后，回购股份将全部予以注销。拟回购的资 金总额不低于人民币5亿元，不超过人民币10亿元，回购价格上限为13.58元/股，回购的股份将全部予 以注销并减少公司注册资本，回购期限为自股东会审议通过回购方案之日起12个月内。按本次回购金额 下限人民币5亿元测算，回购数量约为4,545万股，回购价格上限不高于13.58元/股；按本次回购金额上 限人 ...

Core Insights - The Guangxi Zhuang Autonomous Region's Natural Resources Department has developed an innovative site selection query system to address long project site selection times, enhancing resource allocation efficiency [1][2] - The department has ensured land use guarantees for 364 major projects, covering approximately 187,900 acres, to support economic growth [1] - A focus on rural revitalization has led to the allocation of 19,800 acres specifically for 33 poverty-stricken counties, facilitating various agricultural and tourism projects [3] Group 1: Major Projects and Land Use - As of May 2024, 200 major projects have received national land use guarantees, with approximately 142,500 acres allocated [1] - The Guangxi Natural Resources Department has implemented a mechanism combining "list management, on-site services, and regular scheduling" to enhance land use support for major projects [1][2] - The department has prioritized land use for key areas, including the China-ASEAN Industrial Cooperation Zone, with specific allocations of 25,000 acres for 2024 and 15,000 acres for the current year [2] Group 2: Rural Revitalization Efforts - The department has allocated 19,800 acres of land use indicators annually for rural revitalization projects in 33 poverty-stricken counties [3] - Specific projects, such as the tea tourism complex in Sanjiang Dong Autonomous County, have been effectively supported through targeted land use allocations [3] - The department has established a requirement for each city to allocate at least 5% of land use indicators for rural industry integration and construction [3][4] Group 3: Policy Innovations and Support - Since December 2023, the Guangxi Natural Resources Department has introduced several policies to strengthen land use guarantees for rural revitalization [4] - The department has initiated a "one-on-one" policy training and service guidance program to facilitate the implementation of these policies [4] - Future plans include leveraging national initiatives to enhance natural resource policy supply, with 23 measures aimed at supporting economic recovery and high-quality development [4]

证券代码：002480 证券简称：新筑股份 成都市新筑路桥机械股份有限公司 问 3：四川省国资委 2025 年 4 月印发的《关于提高省属 监管企业控股上市公司质量的指导意见》（以下简称"《意见》"） 对省属国企市值管理有何要求？ 答：据了解，《意见》主要聚焦以下方面：一是指导监管 企业和上市公司构建科学的市场价值观，明确市值管理目标， 制定并实施有效的市值管理制度与方案，强化责任落实；二是 推动优质资源向上市公司集中，支持企业围绕市值管理依法合 规运用相关政策工具，聚焦优势产业和战略性新兴产业，通过 并购重组优质标的实现价值提升，促进资源向新质生产力集 聚，推动上市公司做强做大；三是鼓励上市公司利用增持、回 购、分红等手段实现价值创造，对有条件的公司建议优化分红 策略，提高分红比例和频次；四是强化监管企业与投资者、分 析师的互动交流，通过多样化方式主动发声，传递公司投资价 值；同时将市值管理纳入监管企业负责人经营业绩考核体系， 指导企业完善上市公司绩效评价机制，以全方位举措促进上市 公司质量提升和市值稳健增长。 问 4：根据公开信息显示，蜀道集团的核心主业包括综合 交通和能源资源投资开发。新型能源方面，积极 ...

Core Viewpoint - The company has approved a profit distribution plan for the year 2024, which includes a cash dividend of RMB 1.50 per 10 shares for all shareholders, with specific tax considerations for different types of investors [1][2]. Profit Distribution Plan - The profit distribution plan states that for every 10 shares held, shareholders will receive a cash dividend of RMB 1.50 (including tax) [1]. - The distribution will not include stock dividends or capital reserve transfers to increase share capital [1]. - The total amount of distribution will be adjusted if the total share capital changes due to events like new share listings or convertible bond conversions, while maintaining the per-share distribution ratio [1]. Dividend Dates - The record date for the distribution is set for June 24, 2025, and the ex-dividend date is June 25, 2025 [2]. Distribution Recipients - The distribution will be made to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, as of the close of trading on June 24, 2025 [2]. Convertible Bond Adjustment - Following the profit distribution, the conversion price of the company's convertible bonds will be adjusted from RMB 10.15 per share to RMB 10.00 per share, effective from June 25, 2025 [2].

General Principles - The rules aim to standardize the decision-making process of the board of directors of China Communications Construction Company, ensuring scientific, democratic, and legal decision-making [1][2] - The board is responsible for major company decisions, strategic planning, and risk management, acting in the interests of shareholders and the company [1][2] Board Composition and Structure - The board consists of seven to nine directors, with at least one-third being independent directors and one employee director elected by staff [2][3] - The board elects a chairman and up to two vice-chairmen, with a term of three years for each director [2][3] Board Powers - The board has the authority to convene shareholder meetings, execute resolutions, formulate development strategies, and approve significant financial decisions [3][4] - Specific powers include deciding on annual budgets, profit distribution, capital changes, and major acquisitions [3][4] Decision-Making Procedures - Certain decisions, such as issuing shares or financial assistance, require a two-thirds majority of the board [4][5] - The board can delegate some powers to the chairman or CEO under specific conditions, but cannot delegate statutory powers [5][6] Specialized Committees - The board has specialized committees, including the Audit and Risk Committee, which oversees financial reporting and internal controls [7][8] - Committees must establish rules and report to the board, enhancing decision-making processes [12][13] Meeting Procedures - The board must hold at least two regular meetings each year and can convene special meetings under specific circumstances [12][13] - Meeting notifications must include details about the agenda, time, and location, and require a majority of directors to be present for decisions [15][16] Voting and Resolutions - Decisions are made through a voting process where each director has one vote, and a majority is required for resolutions to pass [19][20] - Directors must avoid conflicts of interest and may need to abstain from voting on related matters [21][22] Documentation and Record-Keeping - The board must maintain detailed records of meetings, including attendance, discussions, and resolutions, which are to be preserved for at least ten years [57][58] - Meeting records must be accessible to directors and relevant parties, ensuring transparency [57][58]