证券代码：601800 证券简称：中国交建 公告编号：临2025-017 中国交通建设股份有限公司 2025年第一季度主要经营数据公告 中国交通建设股份有限公司（本公司或公司）董事会及全体董事保证本公 告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、 准确性和完整性承担个别及连带责任。 现将公司2025年第一季度主要经营情况公布如下，供各位投资者参阅。 一、主要经营情况 2025 年一季度，公司新签合同额为 5,530.34 亿元，同比增长 9.02%，完成 年度目标的 27%（按照董事会审议批准的在 2024 年新签合同额 18,811.85 亿元 的基础上增长 7.1%测算）。其中，基建建设业务、基建设计业务、疏浚业务和 其他业务分别为 4,935.00 亿元、155.16 亿元、410.18 亿元和 30.00 亿元。 1.境外市场开拓情况 各业务来自于境外地区的新签合同额为 1,068.77 亿元（约折合 150.23 亿美 元），同比增长 17.14%，约占公司新签合同额的 19%。其中，基建建设业务、基 建设计业务、疏浚业务和其他业务分别为 1,057.44 亿元、6.39 ...

Investment Rating - The report maintains a "Buy" rating for Sichuan Road and Bridge [1] Core Views - The company's revenue and profit have reached a bottom, with a maintained dividend payout ratio of 50% [1] - The company is expected to benefit from the development of the Chengdu-Chongqing economic circle, enhancing its performance [7] - The report has adjusted profit forecasts for 2025-2026 downwards due to regional investment slowdowns but maintains a positive outlook for 2027 [7] Financial Data and Profit Forecast - Total revenue for 2023 is projected at 115,042 million, with a year-on-year decrease of 14.9% [6] - The net profit attributable to the parent company for 2024 is expected to be 7,210 million, a decrease of 19.9% year-on-year [6] - The company’s gross margin for 2024 is forecasted to be 15.7%, down from the previous year [6] - Operating cash flow for 2024 is expected to increase by 55.45 million, with a cash collection ratio of 90.1% [7] - The company’s debt ratio is projected to be 78.9% at the end of 2024, slightly down from the previous year [7]

Core Viewpoint - North New Road and Bridge (002307) reported a revenue of 10.215 billion yuan for 2024, a year-on-year increase of 20.37%, despite a downturn in the construction industry [1] Financial Performance - The company achieved a net profit attributable to shareholders of -423 million yuan [1] - Total assets reached 56.393 billion yuan, reflecting a growth of 3.98% [1] - The company secured 91 new projects with a total value of 20.195 billion yuan [1][3] Business Development - North New Road and Bridge primarily operates in traditional construction sectors such as highways, municipal projects, and housing, while gradually expanding into new sectors like 5G infrastructure, photovoltaic wind power, and water conservancy projects [1] - The company has transitioned from regional operations to a national and international presence, undertaking projects in 26 provinces and 9 countries [1] Project Highlights - The company successfully won contracts for various projects, including rural water management in Sichuan and multiple highway construction projects [3] - In 2024, the company secured 7 new projects in the 5G and renewable energy sectors, amounting to 2.31 billion yuan, which represents 11.44% of the total contract value [3] Competitive Position - The company maintains a 100% contract performance and quality compliance rate, earning numerous accolades such as "National Excellent Construction Enterprise" and "China Construction Engineering Luban Award" [1] - North New Road and Bridge holds high-level industry qualifications, enhancing its market competitiveness [1] Future Outlook - The company plans to develop a "3+3+N" business model, focusing on traditional construction and new infrastructure sectors, aiming to integrate resources and extend its service capabilities across the construction lifecycle [4] - The company is actively pursuing opportunities in the overseas market and enhancing collaborations with state-owned enterprises to leverage quality resources [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 A股代码：601390 A股简称：中国中铁 公告编号：临2025-024 H股代码：00390 H股简称：中国中铁 中国中铁股份有限公司关于召开2025年第一季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025年4月30日(星期三) 15:00-16:00 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于2025年4月23日(星期三) 至4月29日(星期二)16:00前登录上证路演中心网站首页点击"提问预 征集"栏目或通过公司邮箱ir@crecg.com进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 中国中铁股份有限公司（以下简称"公司"）将于2025年4月30日发布公司2025年第一季度报告，为便于 广大投资者更全面深入地了解公司2025年第一季度经营成果、财务状况，公司计划于2025年4月30日 （ ...

4月21日下午，中国建筑（601668）股份有限公司(以下简称"中国建筑")召开2024年度业绩说明会。会 上，公司管理层就市场关心的房地产业务、现金流、市值管理、人工智能等问题进行了回应。 2024年，中国建筑实现经营活动产生的现金流量净额157.7亿元，同比增长43%，连续五年保持增长。 "现金流是企业的生命线，在当前的形势下，健康的现金流甚至比利润还重要。"中国建筑副总裁、财务 总监黄杰表示，2025年公司将结合新情况，把握新机遇，持续优化现金流管理，重点做好以下工作： 一是加强债权回收，密切跟踪各地专项债的落地情况。二是加强资产盘活，紧跟各地稳楼市政策，灵活 调整销售策略，探索各种创新模式，拓宽资产盘活渠道。三是加强投资管控，稳妥审慎拓展投资业务， 严把项目入口关。四是加强精细化管理，完善项目全周期的现金流预算管理体系，把资金管理贯穿项目 的全生命周期。同时加强资金的集中管理，减少资金成本。 谈房地产发展：市场信心会逐步回归 2024年，房地产行业经历了深度调整。2025年将有怎样的发展趋势？ 中国建筑副总裁吴秉琪认为，从供给端来看，当前各地政府积极落实"控增量、优存量"的政策导向，进 一步优化土地供 ...

Investment Rating - The industry investment rating is "Buy" [2] Core Viewpoints - The municipal investment in March continues to show a warming trend, with a focus on domestic demand counter-cyclical adjustments and safe investment areas [1] - The construction industry PMI rose to 53.4 in March, indicating improved activity in the sector [36] - The issuance of special bonds has been stable, with a significant year-on-year increase in the amount issued [44] Summary by Sections 1. Water Conservancy and Power Investment - Water conservancy and power investments continue to maintain high growth, with municipal investment in March showing a year-on-year increase of 6.5% [23] - Narrowly defined infrastructure investment (excluding power) increased by 5.8% year-on-year, while broadly defined infrastructure investment (including power) rose by 11.5% [23][24] 2. Fund Tracking - As of April 18, 2025, the total amount of newly issued special bonds reached 1,063.39 billion CNY, a year-on-year increase of 40.4% [44] - The issuance of city investment bonds reached 1,824.42 billion CNY, with a year-on-year increase of 4.74% [48] 3. Recent Key Company Announcements - Shanghai Construction Group reported a cumulative new contract amount of 64.548 billion CNY for Q1 2025, a year-on-year decrease of 44.03% [60] - Jianghe Group announced a cumulative new contract amount of 1.435 billion CNY for Q1 2025, down 47.13% year-on-year [60]

Core Viewpoint - China Railway Group Limited (601390) has received approval from the China Securities Regulatory Commission to publicly issue corporate bonds totaling no more than 50 billion RMB, with a specific issuance of 25 billion RMB for the first phase of the bonds [1][2] Group 1 - The total face value of the corporate bonds to be issued is capped at 50 billion RMB, with the approval valid until April 3, 2027 [1] - The first phase of the bond issuance includes two types: Type One with a basic term of 3 years and Type Two with a basic term of 5 years, both allowing for extensions [1] - The bonds will be issued at a face value of 100 RMB each, with a maximum issuance scale of 25 billion RMB for the first phase [1] Group 2 - The coupon rate for Type One bonds is set between 1.60% and 2.60%, while Type Two bonds have a coupon rate range of 1.80% to 2.80% [2] - The final coupon rates will be determined based on the results of offline inquiries and will be set within the specified ranges [2] - Type One bonds are referred to as "25铁YK03" with the bond code "242841.SH", and Type Two bonds are referred to as "25铁YK04" with the bond code "242842.SH" [2]

Core Insights - China State Construction Engineering Corporation (China State Construction) reported a total new contract value of 4.5 trillion yuan for 2024, with operating revenue of 2.19 trillion yuan and a net profit attributable to shareholders of 46.19 billion yuan, resulting in a basic earnings per share of 1.11 yuan [1][2][3] Group 1: Business Performance - The company's construction business saw a new contract value of 2.6516 trillion yuan, with operating revenue of 1.3218 trillion yuan, and a significant increase in public building contracts, which accounted for 65.6% of the total [1] - The infrastructure business achieved a new contract value of 1.4149 trillion yuan, a year-on-year increase of 21.1%, with operating revenue of 550.9 billion yuan, driven by strong performance in energy engineering, water resources, and environmental sectors [2] - The real estate segment maintained a leading position with a contract sales value of 421.9 billion yuan, outperforming the industry decline by 10.6 percentage points, and a total land acquisition of 138.5 billion yuan [2] Group 2: Strategic Outlook - The company aims to achieve a new contract value exceeding 4.6 trillion yuan and operating revenue surpassing 2.28 trillion yuan by 2025, focusing on high-quality development amidst market challenges and opportunities [3] - The ongoing transformation towards industrialization, digitalization, and green development in the construction industry is expected to enhance the company's competitive edge and market expansion capabilities [3]

作为内蒙古自治区规模最大的综合性建筑央企，也是唯一一家总部位于自治区的驻区建筑央企，中国二冶集团凭借深厚的技术积累与 卓越的管理水平，在基础设施建设领域铸就了斐然成就。近两年来，公司在内蒙本土市场的订单额连续突破百亿大关，稳坐"自治区建筑业 龙头企业"头把交椅。 近日，中国二冶集团党委书记、董事长徐永锋，就公司在基础设施建设、绿色转型、科技创新等领域取得的丰硕成果，以及未来发展 的全新规划，展开了深度交流。通过分享企业发展历程与战略布局，为行业的持续发展提供了极具价值的思路。 聚焦重点项目，服务国家战略 在基础设施建设领域，中国二冶集团成果丰硕。在谈到重点项目时，徐永锋介绍，公司在市政设施、轨道交通、公路交通、医疗康 养、新能源等领域承建了一批标志性工程。例如，呼和浩特西南二环快速路工程荣获国家优质工程奖，兰州柴家峡黄河大桥两次登上央视 中国二冶集团党委书记、董事长徐永锋 节目；西安地铁15号线、成都地下综合管廊等项目展现了公司在城市更新中的实力；甘肃、湖南等地的高速公路项目总里程超过240公 里；风电、光伏等新能源项目更是紧跟国家"双碳"目标，为绿色发展贡献力量。 徐永锋特别提到，中国二冶在自治区内外市场订 ...

Macro Dynamics - The State-owned Assets Supervision and Administration Commission (SASAC) has mandated central enterprises to enhance fund coordination to ensure timely payments, particularly to small and medium-sized enterprises (SMEs) [1] - The SASAC's initiative aims to address the issue of delayed payments to enterprises, thereby facilitating the smooth circulation of funds and supporting the national economy [1] - A revised regulation on ensuring payment to SMEs will take effect on June 1, 2025, as part of broader efforts to improve the regulatory framework regarding enterprise payments [1] Service Industry Expansion - The State Council has approved a plan to accelerate the expansion of service industry pilot projects, adding nine new cities to the existing eleven pilot areas [2] - The new pilot cities include Dalian, Ningbo, Xiamen, Qingdao, Shenzhen, Hefei, Fuzhou, Xi'an, and Suzhou, aiming to enhance institutional innovation and efficiency in service industry development [2] Financial Institutions - Li Jiping, former Vice President of the China Development Bank, has been sentenced to 14 years in prison for bribery [4][5] Market Data - The Shanghai Composite Index rose by 0.45%, marking a seven-day consecutive increase, with total trading volume in both markets exceeding 1 trillion yuan [7] - The financing balance in both markets has decreased for three consecutive days, with a total reduction of 62.63 billion yuan [8] Company Dynamics - CATL launched the Xiaoyao dual-core battery, which features a dual-core architecture for enhanced energy output and safety, alongside the second-generation Shenxing supercharging battery with a range of 800 kilometers [9] - Haiguang Information reported a net profit of 506 million yuan for Q1 2025, a year-on-year increase of 75.33%, driven by strong demand in general and AI computing markets [11] - Zhongyida announced that its stock price has significantly diverged from its fundamentals, with a 197.77% increase since March 10, 2025, despite reporting a net loss of 14.08 million yuan for 2024 [12] - China Communications Construction Company plans to repurchase A-shares worth 500 million to 1 billion yuan, while its controlling shareholder intends to increase H-shares by 250 million to 500 million yuan [13] - Guangda Special Materials reported a net profit increase of 1488.76% year-on-year for Q1 2025, attributed to strong industry demand and internal efficiency improvements [14]