智通财经APP讯，中国中冶(601618.SH)发布公告，公司拟以集中竞价交易方式回购部分A股和H股股 份。其中，A股回购金额不低于人民币10亿元(含)且不超过人民币20亿元(含);H股回购股份数量不超过 有关授予H股回购授权的议案于相关股东会上审议批准当日已发行H股总数的10%，回购金额不超过人 民币5亿元。回购A股股份价格不超过人民币4.90元/股，回购的股份将用于注销并减少公司注册资本。 ...

格隆汇12月17日丨中国中冶(601618.SH)公布，为切实维护股东权益，有效增强投资者信心，进一步稳 定及提升公司价值，公司拟以集中竞价交易方式回购部分A股和H股股份。其中，A股回购金额不低于 人民币10亿元(含)且不超过人民币20亿元(含)，具体回购资金总额以回购方案实施完毕或回购期限届满 时实际回购股份使用的资金总额为准；H股回购股份数量不超过有关授予H股回购授权的议案于相关股 东会上审议批准当日已发行H 股总数的10%，回购金额不超过人民币5亿元。 本次回购A股股份价格不超过人民币4.90元/股（不超过公司董事会通过回购股份决议前30个交易日公司 股票交易均价的150%）。 ...

Group 1 - The core viewpoint of the report is that China Railway Construction (01186) is rated as "Overweight" with stable industry investment expectations for 2026, supported by local government debt resolution and the implementation of key projects [1] - Despite pressures in infrastructure and other sectors, new order signing showed positive growth in the first three quarters of 2025, particularly in emerging businesses like green environmental projects, indicating a continuous optimization of the company's structure [1] - The company has a substantial backlog of contracts amounting to 8.10 trillion yuan, ensuring long-term stable growth [1] Group 2 - The company's financial situation is improving, with operating revenue of 728.4 billion yuan in the first three quarters of 2025, a year-on-year decrease of 3.9%, and a net profit of 14.8 billion yuan, down 5.6% year-on-year [2] - The company has implemented a three-year plan to control financial metrics, resulting in a significant reduction in cash outflow and an improvement in the aging structure of accounts receivable [2] - The proportion of accounts receivable aged within one year has increased from 67.97% in 2022 to 75.27% in the first half of 2025, indicating better cash flow management [2] Group 3 - The H-shares of China Railway Construction are trading at a significant discount compared to A-shares, with H-share PE (TTM) at 3.6X and PB at 0.25X, while A-shares are at 5.5X and 0.43X respectively [3] - The dividend yield for H-shares is more attractive at 5.93% compared to 3.87% for A-shares, with cash dividends distributed from 2021 to 2024 showing a consistent increase [3] - The company has maintained a stable dividend payout ratio, indicating a commitment to returning value to shareholders [3]

Core Viewpoint - Shenyin Wanguo has initiated coverage on China Railway Construction (601186) with a "Buy" rating, indicating stable industry investment expectations for 2026 despite pressures in infrastructure and other sectors [1] Industry Summary - Investment in the industry is expected to stabilize in 2026, supported by the orderly advancement of local government debt reduction and the implementation of central "two重" projects [2] - Fixed asset investment growth has slowed this year, with infrastructure, manufacturing, and real estate facing challenges, but certain sub-sectors may benefit from national strategies [2] Company Summary - The company has shown marginal improvement in new contract signings, with a total of 8.10 trillion yuan in backlog contracts as of Q3 2025, ensuring long-term stable growth [3] - New contract amounts from 2021 to 2025 Q1-3 show a mixed performance, with a notable increase in emerging business sectors such as green environmental projects and logistics [3] - The company’s revenue and profit have faced pressure due to local government debt and the downturn in the real estate sector, with Q1-3 2025 revenue at 728.4 billion yuan, down 3.9% year-on-year [4] - The company has implemented a three-year plan to control financial metrics, resulting in improved cash flow and a better aging structure of accounts receivable [4] Valuation Summary - The H-share of China Railway Construction is significantly discounted compared to A-shares, with H-share PE (TTM) at 3.6X and PB at 0.25X, while A-share PE is at 5.5X and PB at 0.43X [5] - The dividend yield for H-shares is more attractive at 5.93% compared to 3.87% for A-shares, with cash dividends distributed from 2021 to 2024 showing a steady increase [5]

格隆汇12月16日丨保利联合(002037.SZ)公布，公司全资子公司保利特能工程有限公司下属控股子公司 内蒙古瀚石矿山工程有限公司（简称："内蒙古瀚石"）收到项目招标代理机构北京国电工程招标有限公 司发出的《中标通知书》，内蒙古瀚石中标(能投公司)内蒙古大唐国际锡林浩特矿业有限公司胜利东二 号露天煤矿工程2026-2030年剥离工程二标段项目，中标金额：152,784.15万元。 ...

近日，由中建一局承建的北京中关村综合保税区0046地块项目顺利完成主体结构全面封顶，标志着项目 正式转入二次结构及装饰装修阶段，为整体交付奠定坚实基础。 项目以"数智融合+绿色创新"双轮驱动，通过装配式钢框架结构、BIM技术、智能管理平台与智慧监测 系统，跨项目调拨周转材料、基坑降水回用等创新技术，强化精准管控，践行"双碳"理念，发挥全国首 例研发创新型综保区示范效应，赋能首都培育新质生产力与高质量发展。 该项目位于北京市海淀区，总建筑面积28.8万平方米，包含6栋钢框架支撑结构单体，总用钢量达3.2万 吨。作为全国首个以"研发创新"为特色的综合保税区，项目建成后将重点服务集成电路与生物医药领域 高新技术企业，提供普通实验空间、中试实验空间及多功能办公空间三类专业化载体，有力支撑海 淀"两区"建设，进一步强化北京国际科技创新中心功能，助力中关村打造高水平科技自立自强的先行示 范区。 ...

智通财经APP讯，保利联合(002037.SZ)公告，公司全资子公司保利特能工程有限公司下属控股子公司内 蒙古瀚石矿山工程有限公司("内蒙古瀚石")收到项目招标代理机构北京国电工程招标有限公司发出的 《中标通知书》，内蒙古瀚石中标(能投公司)内蒙古大唐国际锡林浩特矿业有限公司胜利东二号露天煤 矿工程2026-2030年剥离工程二标段项目，中标金额15.28亿元。 ...

证券日报网讯12月15日晚间，中国中冶（601618）发布公告称，本公司2025年1月份至11月份新签合同 额人民币9，581.3亿元，较上年同期降低8.6%，其中新签海外合同额人民币750.0亿元，较上年同期增 长0.4%。 ...

人民财讯12月16日电，企查查APP显示，近日，中电建(海口)土地整治投资有限公司成立，法定代表人 为侯志强，经营范围包含：建设工程施工；非煤矿山矿产资源开采；土地整治服务；不动产登记代理服 务；生态恢复及生态保护服务等。企查查股权穿透显示，该公司由中国电建（601669）旗下中电建生态 环境集团有限公司、海南永顺建设工程有限公司共同持股。 ...

据交易所数据显示，12月15日，明成集团(MSW)开盘上涨7.24%，截至22:30，报1.63美元/股，成交 477.0美元，总市值2114.93万美元。 财务数据显示，截至2025年03月31日，明成集团收入总额3385.1万美元，同比增长22.77%；归母净利 润-573.08万美元，同比减少346.31%。 资料显示，明成集团控股有限公司是一家在开曼群岛注册成立的境外控股母公司,主要由其境内实体子 公司明成(香港)工程有限公司运营。 本公司专门承接泥水、油漆、云石、防水及装修等工程项目。另 外,亦会承包清洁及其他杂项工作。 本公司的一贯做事作风是实事求是、审慎认真、按期竣工、 价钱合理,抱著同一态度对待每单工程。 本公司要做到以上种种,不单靠有信誉及良好关系的原材料供应商,最骄傲的是拥有一班经验丰富,有承担 的师傅,凭借他们的多年经验、专业技术、精益求精的态度, 再加上卓越管理, 灵活调配, 致使各员工上下 一心, 群策群力, 完满成就各项大小工程, 为客人提供最优质的专业服务。 本公司著重与时并进, 珍惜及把握每一个机会,以求利用其专业优势去拓展更多商机,迎接挑战,配合不断 变更的环境发展及市场需要 ...