登录新浪财经APP 搜索【信披】查看更多考评等级 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 一、公募REITs基本信息 二、解除限售份额基本情况 根据有关法律法规、华泰紫金江苏交控高速公路封闭式基础设施证券投资基金(以下简称"本基金")招募 说明书及其更新、签署的战略配售协议及《华泰紫金江苏交控高速公路封闭式基础设施证券投资基金战 略配售份额限售公告》的规定，本基金部分战略配售份额将于2025年11月17日解除限售。本次场内解除 限售份额及场外解除锁定份额共计220,000,000份，其中场内解除限售份额217,320,000份，场外解除锁定 份额2,680,000份。 （一）公募REITs场内份额解除限售 1.本次解除限售的份额情况 ■ 注：上述限售份额自2025年11月17日起满足解除限售条件。 ■ 2.本次解除限售后剩余的限售份额情况 ■ 注：限售期自基金上市之日起计算。 （二）公募REITs场外份额解除锁定 1.本次解除锁定的份额情况 ■ 注：上述限售份额自2025年11月17日起满足解除锁定条件。 2.本次解除锁定后剩余锁定份额情况 本次解除锁定后，本基金无剩余锁定的 ...

Report Title - The report is titled "Public Offering Infrastructure REITs Weekly Report" [1] Report Period - The report covers the period from November 10th to November 14th, 2025 [2] Performance of Secondary Market Price and Volume REITs Performance - In the secondary market, REITs showed certain price and volume changes during the reporting period. For example, some REITs had different returns, turnovers, and trading volumes. The returns of different REITs varied widely, with some achieving positive returns and others negative. For instance, the weekly returns of some REITs ranged from -1.79% to 5.18% [10] Industry Comparison - Different industries of REITs also had different performance. For example, in the highway industry, the returns of various REITs were different, such as the weekly return of China Merchants Highway REIT was -1.79%, while that of CICC Shandong High - speed REIT was 5.18%. In the ecological and environmental protection industry, the weekly return of Fubon First - created Water Service REIT was -0.03%, and that of AVIC Shougang Green Energy REIT was 0.25% [10] Secondary Market Valuation Valuation Indicators - The report provides valuation indicators such as P/FFO, P/NAV, IRR, PV multiplier, and cash distribution rate for different REITs. For example, the P/FFO of Red Earth Innovation Yantian Port REIT was 19.21, and its P/NAV was 1.06 with a current quantile of 48.50%. The cash distribution rate was 4.25% [20] Industry Comparison - Different industries and individual REITs within the same industry also had different valuation levels. For example, in the warehousing and logistics industry, the P/FFO of CICC Puluosi REIT was 14.11, while that of Harvest JD Warehouse Infrastructure REIT was 25.44 [20] Market Correlation Statistics Correlation with Other Assets - The report shows the correlation coefficients between REITs and various assets such as stocks, convertible bonds, pure bonds, and commodities. The correlation coefficients between REITs and the Shanghai Composite Index, CSI 300, ChiNext Index, and small - and medium - cap stocks were 0.20, 0.18, 0.11, and 0.16 respectively. The correlation coefficients between different types of REITs (such as property - right REITs, franchise - right REITs) and these assets also varied [26] Industry Comparison - Different industries of REITs had different correlations with other assets. For example, the energy - type REITs had a relatively low correlation with stock assets, with a correlation coefficient of about 0.04 with the Shanghai Composite Index and CSI 300, while the correlation coefficient between the affordable housing - type REITs and the Shanghai Composite Index was 0.00 [26] Primary Market Tracking Under - Review Projects - There were several REIT projects in different stages of the primary market. For example, China Asset Management Anbo Warehouse Logistics REIT had passed the review, with a project valuation of 22.49 billion yuan. Jianxin Jinfeng New Energy REIT was in the feedback stage, with a project valuation of 8.81 billion yuan [28]

Key Points - 华盛锂电's production and operations have not undergone significant changes, but the company faces risks of performance decline or losses due to uncertainties in the downstream lithium battery industry and ongoing cost reduction efforts [4] - 莎普爱思 has received approval for clinical trials of a drug aimed at maintaining dilation during cataract surgery, which may enhance its product offerings in the ophthalmology sector [5] - 奥比中光 has completed over 10 chip tape-outs, including iToF and dToF sensing chips, indicating strong progress in its chip development for 3D vision technology [6][7] - 利欧股份 has provided a joint liability guarantee of 420 million yuan for its wholly-owned subsidiary, indicating financial support amidst the subsidiary's reported losses [8] - 瀚川智能's controlling shareholder is facing judicial auction of 2.67% of its shares, which could impact the company's ownership structure [9] - 天汽模 is planning a cash acquisition of 50% of 东实股份, which would make it a controlling subsidiary, although the transaction is still in the planning stage [10] - 我武生物 has decided to terminate the development of a specific drug project, indicating a strategic shift in its R&D focus [11] - 航天机电's subsidiary has won an arbitration case for nearly 191.71 billion Korean won, which may have implications for the company's financials [12] - 长源电力's subsidiary has received approval for a 100MW wind power project, reflecting ongoing investments in renewable energy [13] Performance Overview - 天马科技 reported a total eel output of approximately 1732.99 tons in October 2025, with a sales price range of 55,000 to 100,000 yuan per ton [14] - 中国建筑 signed new contracts worth 3.61 trillion yuan in the first ten months of 2025, showing a year-on-year growth of 1% [15] - 赣粤高速's vehicle toll service revenue for October 2025 was 266 million yuan [16] - 中国中冶's new contract amount for the first ten months of 2025 was 845.07 billion yuan, a year-on-year decrease of 11.8% [17] - 中煤能源's coal sales in October 2025 were 21.88 million tons, a year-on-year decrease of 12.8% [18] - 上海机场's Pudong International Airport passenger throughput increased by 12.46% year-on-year in October 2025 [19] - 中国神华's coal production in October 2025 was 26.4 million tons, a year-on-year decrease of 7.4% [20] Shareholding Changes - 骆驼股份's chairman plans to reduce his stake by up to 0.6137% due to personal financial needs [21] - 清源股份's controlling shareholder has reduced its holdings of convertible bonds by 13.71% [22] - 永兴股份's shareholder plans to reduce its stake by up to 1% due to funding needs [23]

Group 1 - Huasheng Lithium Electric reports no significant changes in production and operations, but faces risks of performance decline or losses due to uncertainties in the lithium battery industry and ongoing cost reduction efforts [3] - Shapuaisi has received approval from the National Medical Products Administration for clinical trials of deoxycorticosterone ketone acid solution, aimed at maintaining pupil dilation during cataract surgery [4] - Obit Zhongguang has completed over 10 chip tape-outs, including iToF, dToF sensing chips, and dedicated ASIC computing chips, enhancing its 3D vision perception technology [5] Group 2 - Lio Co. has provided a joint liability guarantee of 420 million yuan for its wholly-owned subsidiary, Zhejiang Pump Industry, with a maximum balance of 420 million yuan [6] - Hanchuan Intelligent's controlling shareholder will have 2.67% of shares judicially auctioned, potentially reducing their stake to 19.72% if all shares are sold [7] - Tianqi Mould plans to cash-step acquire 50% of Dongshi shares, which would make Dongshi a subsidiary, pending further negotiations and due diligence [8] Group 3 - Wowo Bio has decided to terminate the research project for the smoke mold puncture solution and will not proceed with further clinical trials [9] - Aerospace Electromechanical's wholly-owned subsidiary has received arbitration support for a claim amounting to approximately 19.17 billion Korean won [10][11] - Changyuan Power's subsidiary has received approval for a 100MW wind power project, with a total dynamic investment of 583 million yuan [12] Group 4 - Tianma Technology reported an output of approximately 1732.99 tons of eels in October 2025, with a sales price range of 55,000 to 100,000 yuan per ton [14] - China State Construction signed new contracts worth 3.61 trillion yuan from January to October 2025, reflecting a year-on-year growth of 1% [15] - Gansu Expressway reported vehicle toll service revenue of 266 million yuan in October 2025 [16] Group 5 - China Metallurgical Group signed new contracts totaling 845.07 billion yuan from January to October 2025, a decrease of 11.8% year-on-year [17] - China Coal Energy reported a coal sales volume of 21.88 million tons in October 2025, down 12.8% year-on-year [18] - Shanghai Airport's Pudong International Airport saw a 12.46% year-on-year increase in passenger throughput in October 2025 [19] Group 6 - China Shenhua reported a coal production of 26.4 million tons in October 2025, a decrease of 7.4% year-on-year [20] - Camel Group's chairman plans to reduce his stake by 0.6137% due to personal financial needs [22] - Qingyuan Co. issued 5 million convertible bonds, with the controlling shareholder reducing 13.71% of the bonds [24]

智通财经APP讯，赣粤高速(600269.SH)发布公告，公司2025年10月份车辆通行服务收入为2.66亿元。 ...

赣粤高速（600269）(600269.SH)发布公告，公司2025年10月份车辆通行服务收入为2.66亿元。 ...

人民财讯11月14日电，赣粤高速（600269）11月14日公告，公司2025年10月份车辆通行服务收入为2.66 亿元。 ...

Group 1 - Qilu Highway (01576) announced that Mr. Liu Qiang has resigned from his positions as chairman of the supervisory board and supervisor of the company, effective November 14, 2025 [1] - Mr. Liu Qiang will also no longer serve as the deputy secretary of the company's party committee, chairman of the labor union, and director of wholly-owned subsidiary Qilu Highway (Hong Kong) Limited, effective November 14, 2025 [1] - Mr. Liu Liangrong has resigned from his position as deputy general manager of the company due to reaching the statutory retirement age, effective November 14, 2025 [1]

Investment Rating - The report maintains a rating of "Accumulate" for the company [6][12]. Core Insights - The company is expected to significantly enhance its performance through the acquisition of road assets in Q1 2025 and the completion of the expansion of the Xuan Guang highway in Q3, which will drive accelerated profit growth. The planned acquisition of a stake in Shandong Expressway is anticipated to further boost earnings, with a stable dividend policy in place [3][12]. Financial Summary - **Revenue Forecast**: The total revenue is projected to grow from 6,631 million yuan in 2023 to 8,820 million yuan in 2025, reflecting a growth rate of 27.4% in 2023 and 24.4% in 2025 [5]. - **Net Profit**: The net profit attributable to the parent company is expected to increase from 1,660 million yuan in 2023 to 1,976 million yuan in 2025, with a growth rate of 14.9% in 2023 and 18.4% in 2025 [5]. - **Earnings Per Share (EPS)**: EPS is forecasted to rise from 0.97 yuan in 2023 to 1.16 yuan in 2025 [5]. - **Return on Equity (ROE)**: The ROE is projected to be 13.1% in 2023, decreasing to 11.2% by 2027 [5]. Market Data - **Current Price**: The stock is currently priced at 15.37 yuan, with a market capitalization of 26,261 million yuan [7]. - **52-Week Price Range**: The stock has traded between 12.89 yuan and 18.47 yuan over the past year [7]. - **Dividend Yield**: The company has committed to a dividend payout ratio of no less than 60% of net profit, resulting in a projected dividend yield of 4.7% for 2025 [12]. Strategic Moves - The company completed the acquisition of road assets in Q1 2025, which has significantly enhanced its earnings. The completion of the expansion of the Xuan Guang highway in Q3 is expected to release pent-up traffic demand, further driving profit growth [12]. - The planned acquisition of a 7% stake in Shandong Expressway is expected to add approximately 200 million yuan in annual investment income, enhancing the company's overall performance [12].

Core Points - The company has successfully completed the issuance of its fifth phase of ultra-short-term financing bonds for the year 2025, amounting to 1 billion yuan [1] - The funds raised from this issuance have been deposited into the company's designated account [1] Summary by Sections - **Issuance Details** - The company applied for a unified registration of non-financial corporate debt financing instruments, including ultra-short-term financing bonds, short-term financing bonds, medium-term notes, PPN, and ABN, as approved by the shareholders' meeting held on May 9, 2024 [1] - The issuance of the 1 billion yuan ultra-short-term financing bond was completed on November 12, 2025 [1] - **Regulatory Compliance** - The company assures that the announcement content does not contain any false records, misleading statements, or significant omissions, and takes legal responsibility for the authenticity, accuracy, and completeness of the content [1]