Core Points - The company approved a financial assistance proposal for its wholly-owned subsidiary to provide a loan to its controlling subsidiary [1] - The loan amount is capped at 320.86 million yuan with a term of three years and an interest rate not exceeding the loan market quotation rate [1] - The specific loan agreement between the subsidiaries has been signed, detailing a loan of 30.16 million yuan at a fixed annual interest rate of 2.80% [1][2] Loan Details - Loan Amount: 30.16 million yuan [1] - Loan Term: Three years [1] - Interest Rate: Fixed at 2.80% per annum [1][2] Repayment and Default Terms - Repayment priority is given to the loan from the subsidiary's future receipts after settling bank loan principal and interest [3] - Default penalties include additional interest charges based on the duration of the delay, ranging from 5% to 30% depending on the overdue period [3][4] Legal and Contractual Aspects - The contract is governed by the Civil Code of the People's Republic of China, with disputes to be resolved through negotiation or litigation in the local court [3][4] - The agreement becomes effective upon signature and seal by both parties and will automatically expire once the loan principal and interest are fully repaid [4]

Core Viewpoint - The market experienced a significant decline on September 23, with the Shanghai Composite Index dropping over 1% and falling below 3800 points, while the Dividend Low Volatility ETF (512890) showed resilience by increasing 0.09% to 1.151 yuan, indicating strong investor interest [1][2]. Fund Performance - The Dividend Low Volatility ETF (512890) had a trading price of 1.151 yuan, with a slight increase of 0.09% and a turnover rate of 1.38%, achieving a half-day trading volume of 279 million yuan, leading among similar ETFs [1][2]. - Over the past five trading days, the ETF saw a net inflow of 257 million yuan, with a total net inflow of 3 billion yuan over the last 20 trading days and 21.53 billion yuan over the last 60 trading days, indicating strong demand [2][3]. Historical Performance - As of September 22, 2025, the Dividend Low Volatility ETF has achieved a cumulative return of 129.82% since its inception in December 2018, outperforming its benchmark and ranking 77th among 502 similar products [7]. - The fund has consistently delivered positive returns each year from 2019 to 2024, showcasing its strong volatility resistance and stable performance [7]. Investment Strategy - Analysts suggest that investors consider a systematic investment approach to participate in the Dividend Low Volatility ETF, which can serve as a key component for stable returns in asset allocation [7].

项目建成后，将进一步增强两江新区与长寿区之间的快速连接，有力促进两江新区、渝北区、长寿区及渝东北城市组团协同发展，为推进重庆主城都市区基础设施互联万通、打造"1 小时通 勤圈"发挥重要作用。 牛万乾/文 截至目前，关键线路晏家隧道左右洞全长4359米，累计已完成掘进3324米；龙门桥隧道左右洞全长1824米，目前左右洞均已贯通；经开区隧道左右洞全长521米，累计已完成掘进427米。项 目共计桥梁9座，其中桥梁上部结构有3座已全部完成，3座正在施工中；下部结构有6座全部完成，剩余1座及其他房建、道路工程正在稳步施工中。 近日，由重庆城投江长建设有限公司投资建设、中交路桥建设有限公司承建的重庆市两江新区-长寿区快速通道项目（长寿段）主线17号桥首片预制T梁成功架设。 江长项目（长寿段）主线17号桥全长493米，上部结构为预应力砼先简支后连续T梁，预制T梁共计144片；下部结构为重力式桥台、桩柱式墩、桩基础，其中盖梁11座，圆柱墩44根，桩基56 根。本次架设的预制T梁全长40米，重130余吨，采用架桥机架设。为满足标尾段桥梁架设需求，中交路建项目团队在项目标尾段增设2号梁场，大幅缩短架梁运距的同时，也有效缩短了施 ...

Group 1 - The company held its 24th meeting of the 7th Board of Directors on September 19, 2025, where it approved the proposal to change the accounting firm [1][2][22] - The board unanimously voted in favor of the proposal with 9 votes for, 0 against, and 0 abstentions [3][5] - The company plans to appoint Sigma Accounting Firm as its auditor for the fiscal year 2025 due to the expiration of the contract with the previous firm, Yongtuo [10][19] Group 2 - Sigma Accounting Firm was established on June 28, 2013, and has 61 partners and 275 registered accountants, with 139 having signed audit reports for securities services [10][11] - The audit fee for the current period is set at RMB 2.66 million, which is slightly lower than the previous year's fee of RMB 2.7 million [17][18] - The company will submit the proposal for the change of accounting firm to the shareholders' meeting for approval [23][22] Group 3 - The company will hold its third extraordinary shareholders' meeting on October 9, 2025, to discuss the proposal [29][30] - The meeting will allow both on-site and online voting, with specific time slots for each voting method [31][39] - Shareholders must register by September 22, 2025, to participate in the meeting [32][37]

Core Points - The Jiangping East Road Extension Project is a crucial part of the city's rapid road network, aimed at improving traffic flow and connecting key areas [1][3] - The project is expected to be completed by 2027, with significant construction milestones planned for 2024 [1][2] Group 1: Project Overview - The Jiangping East Road Extension is designed to alleviate traffic on Wenchang Road and connect the main urban area with the Ecological Technology New City and Jiangdu [1] - The project includes a total of 134 underwater piles and 5 underwater platforms, with construction currently underway [2] Group 2: Construction Details - The underwater drilling for the Phoenix River Bridge has commenced, marking a critical phase in the project's construction [2] - The project faces geological challenges, including complex soil conditions, which have led to the implementation of an innovative "three-level mud purification system" to enhance drilling efficiency [2] Group 3: Timeline and Specifications - The first phase of the project (west section) is 1.95 kilometers long, while the second phase (east section) is planned to be approximately 2.16 kilometers [3] - Upon completion, the entire extension will span over 20 kilometers without traffic signals, significantly reducing travel time between key areas [3]

Core Viewpoint - Chengdu Road and Bridge (002628) announced on September 18 that its main assets consist of accounts receivable, contract assets, and long-term receivables, with a focus on ensuring operational funding and stable cash flow [1] Group 1 - The company reported a total collection amount of 436 million yuan in the first half of the year [1] - The majority of the company's existing accounts receivable are concentrated in the Sichuan region [1] - The company is committed to actively promoting project collections to safeguard operational funds [1]

Core Viewpoint - Chengdu Road and Bridge (002628) is focusing on solidifying its core infrastructure business by prioritizing order acquisition, business expansion, and market development [1] Group 1: Company Performance - In the first half of 2025, the total amount of contracts won by the company (including subsidiaries) reached approximately 952 million, representing a year-on-year increase of 98.68% [1] - The parent company secured four traditional infrastructure projects, amounting to about 883 million, with major regions including Xinjiang and Sichuan [1] - The subsidiaries collectively won contracts worth approximately 69 million [1]

Core Viewpoint - The recent market volatility has led to a collective decline of over 1% in the three major stock indices, with the Hongli Low Volatility ETF (512890) experiencing a drop of 1.87% but maintaining long-term net inflows, indicating investor confidence in the strategy [1][3][6]. Group 1: ETF Performance - The Hongli Low Volatility ETF (512890) closed at 1.153 yuan, with a trading volume of 6.68 billion yuan and a turnover rate of 3.32% [1][2]. - Over the past 60 trading days, the ETF has seen a net inflow of 1.79 billion yuan, reflecting a long-term positive sentiment among investors despite short-term fluctuations [1][3]. - The ETF has maintained strong liquidity, with a cumulative trading amount of 90.42 billion yuan over the last 20 trading days, averaging 4.52 billion yuan per day [2]. Group 2: Fund Flow Dynamics - Recent fund flow data indicates a mixed trend, with short-term outflows of 1.2 billion yuan over the last 5 trading days, while long-term inflows of 1.79 billion yuan over 60 trading days suggest strategic positioning by investors [3][6]. - As of September 16, the ETF's circulating scale was 20.293 billion yuan, ranking it among the top in its category, showcasing market recognition of the low volatility strategy [3]. Group 3: Holdings and Market Sentiment - The top ten holdings of the Hongli Low Volatility ETF include major banks and infrastructure companies, all of which have experienced varying degrees of adjustment recently [4][5]. - Goldman Sachs has maintained an overweight rating on A-shares and H-shares, advising investors to buy on dips, particularly favoring themes like shareholder returns and artificial intelligence, aligning with the ETF's focus [5][6].

对于公司资产构成及存量应收账款区域分布问题，公司虽未在此次公告中详细阐述，但强调了对运营资 金安全和现金流稳定的重视。 在应收账款回款方面，自2024年中央出台相关政策支持地方化解债务风险后，对建筑企业应收账款回收 起到积极作用。公司应收账款多为政府、国企、地方平台公司的应付工程款，若能加速收回，坏账计提 有望冲回，增厚公司利润，改善财务状况。2025年上半年，公司在化债政策支持下，通过各方努力收到 信托分配资金1.12亿元，对本期税前利润产生积极影响。 智能技术合作与矿业投资布局 9月16日，成都市路桥工程股份有限公司迎来林锐基金、变力投资等8家机构及相关个人投资者的特定对 象调研。此次调研于当日15:30 - 17:00在成都市武侯区天府大道北段1777号中国太平金融大厦37楼举 行，公司董事会秘书陈丽竹、证券事务代表杨天天等相关人员参与接待。 订单规模显著增长 在调研中，关于公司2025年新增订单规模的问题备受关注。公司方面表示，持续夯实路桥基建主业，全 力推进"抓订单、抢业务、拓市场"工作。2025年上半年，公司（含分子公司）中标总金额合计约9.52亿 元，较去年同期增长98.68%。其中，母公司中标 ...

龙虎榜数据显示，该股因连续三个交易日内，收盘价涨幅偏离值累计达到12%的ST证券、*ST证券上榜 龙虎榜2次，买卖居前营业部中，营业部席位合计净买入201.16万元。 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 公司发布的半年报数据显示，上半年公司共实现营业收入3.44亿元，同比下降37.77%，实现净利 润-8812.21万元，同比下降12.40%，基本每股收益为-0.1300元。 （文章来源：证券时报网） 据天眼查APP显示，正平路桥建设股份有限公司成立于1996年03月18日。注册资本69962.3237万人民 币。（数据宝） 近日该股表现 *ST正平再度涨停，11个交易日内录得8个涨停，累计涨幅为59.25%，累计换手率为44.97%。截至 9:25，该股今日成交量31.39万股，成交金额132.45万元，换手率0.04%。最新A股总市值达29.52亿元。 | 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2025.09.16 | 4.96 | 0.39 | 637.67 | | 2025.09. ...