Core Viewpoint - China Communications Construction Company (CCCC) announced that from June 9, 2025, to September 2, 2025, it will increase its holdings of H shares in the company by 17.4 million shares, representing approximately 0.11% of the total share capital [1] Summary by Relevant Sections - **Shareholding Details** - After the increase, CCCC will hold 9.375 billion A shares and 315 million H shares, with H shares accounting for about 7.12% of the total issued H shares [1] - The total shareholding of CCCC will represent approximately 59.52% of the company's total issued share capital [1] - **Market Considerations** - The implementation of CCCC's shareholding plan may face risks due to potential changes in the securities market [1]

Group 1 - The "Micro Observation" column has published 100 issues since its launch, effectively addressing most public concerns and showcasing advanced examples of high-quality local development [1] - The column focuses on urgent public issues, reflecting obstacles to high-quality development and highlighting innovative models to improve living standards [1] Group 2 - The column has facilitated the resolution of over ten public issues by promoting improvements in departmental workflows and enhancing grassroots governance capabilities [2] - A significant infrastructure project, an 11-kilometer road that had been under construction for over ten years, has seen renewed progress after being highlighted in the column, with completion expected by December 2025 [2] - The implementation of paid parking at the Zhongshan Memorial Library has improved access for readers, eliminating previous long wait times for parking [2] Group 3 - The column also highlights successful community projects, such as the integration of agriculture, culture, and tourism in a village, which generated nearly 20% growth in collective economic income within six months [3] - The renovation of historical districts has been emphasized, showcasing the importance of both aesthetic and functional improvements in urban development [3] - Over 1,300 "Warm Bee" service locations have been established to address the needs of outdoor workers, receiving widespread acclaim for their contributions to community welfare [3] Group 4 - The column serves as a vital platform for citizens to perceive the effectiveness of policies and the warmth of urban life through various community initiatives [4]

Core Viewpoint - Zhejiang Jiaokao (002061.SZ) has received bid notification letters for several project segments related to the Yilongqing Expressway and the G92 Hangzhou Bay Ring Expressway [1] Group 1 - The company announced that it has won bids for the Yilongqing Expressway segment from Yiwu to Longquan (Jinhua section) [1] - The company also secured bids for the Ningbo Qijia Mountain to Zhoushan Jintang section of the G92 Hangzhou Bay Ring Expressway [1]

Core Viewpoint - The company has triggered the conditional redemption clause for its convertible bonds "交建转债" due to the stock price exceeding 130% of the conversion price for fifteen consecutive trading days, leading to a decision for early redemption [2][5][6]. Group 1: Convertible Bond Issuance and Redemption - The company issued convertible bonds totaling RMB 850 million, with a face value of RMB 100 per bond, and the initial conversion price was set at RMB 18.57 per share [2][3]. - The conversion period for the bonds is from March 22, 2021, to September 14, 2026, with the conversion price adjusted multiple times, currently set at RMB 10.00 per share [3][4][5]. - The board of directors has approved the early redemption of the bonds, which will occur at the face value plus accrued interest, with the redemption date set for September 23, 2025 [2][7]. Group 2: Redemption Conditions and Procedures - The redemption is triggered if the stock price remains above RMB 13.00 per share for fifteen trading days or if the unconverted bond balance falls below RMB 30 million [6][8]. - The redemption price is calculated to be RMB 100.044 per bond, including accrued interest, with the interest calculated based on the bond's face value and interest rate [7]. - The redemption will be executed on September 23, 2025, with funds transferred to bondholders' accounts on September 30, 2025, and the bonds will be delisted from the Shenzhen Stock Exchange after redemption [8].

Core Viewpoint - Zhejiang Jiaokao (002061.SZ) announced that its subsidiaries have been selected as the first candidates for several segments of the G2531 Hangzhou to Shangrao Expressway project, indicating a strong position in the competitive bidding process [1] Group 1: Project Involvement - The subsidiaries involved include Zhejiang Jiaokong Group Co., Ltd., Zhejiang Jiaokong Jinzhu Transportation Construction Co., Ltd., Zhejiang Jiaokong Road and Bridge Construction Co., Ltd., and Zhejiang Jiaokong Hongtu Transportation Construction Co., Ltd. [1] - The project is specifically for the Hangzhou section of the G2531 Hangzhou to Shangrao Expressway (Hangzhou-Chun-Kai Expressway) [1] Group 2: Bid Details - The segments for which the subsidiaries are the first candidates include TJ03, TJ05, TJ06, and TJ07 [1] - Proposed bid amounts are as follows: - Segment TJ03: 1.965 billion yuan - Segment TJ05: 1.718 billion yuan - Segment TJ06: 1.747 billion yuan - Segment TJ07: 1.748 billion yuan [1]

Group 1 - Zhejiang Jiaokao (002061.SZ) announced that its subsidiaries participated in the bidding for the G2531 Hangzhou to Shangrao Expressway project [1] - The bidding results were publicly announced on August 29, 2025, with the subsidiaries being the first candidates for several project sections [1]

Core Viewpoint - China Communications Construction Company (01800) announced that as of August 31, 2025, the company has not repurchased any shares [1] Summary by Category - Company Announcement - The company has not engaged in any share repurchase activities up to the specified date [1]

Core Viewpoint - China Communications Construction Company (CCCC) experienced a decline in stock price, dropping over 5% to HKD 5.3, with a trading volume of HKD 136 million [1] Financial Performance - The company reported a revenue of CNY 335.45 billion for the first half of 2025, representing a year-on-year decrease of 5.78% [1] - The profit attributable to the parent company was CNY 9.99 billion, down 16.9% year-on-year [1] - No interim dividend was declared [1] Contractual Activity - New contract value reached CNY 991.05 billion, showing a year-on-year growth of 3.1% [1] - The new contracts in emerging business sectors amounted to CNY 320.26 billion, accounting for approximately 32% of the total new contracts [1] Market Analysis - Guosheng Securities indicated that the decline in performance was primarily due to a slowdown in domestic project execution and a decrease in gross profit margin [1]

Core Viewpoint - The company has triggered the conditional redemption clause for its convertible bonds "交建转债" due to the stock price exceeding 130% of the conversion price for fifteen consecutive trading days, leading to a decision for early redemption [2][5][6]. Summary by Sections Convertible Bond Issuance Overview - The company issued convertible bonds totaling RMB 850 million, with a face value of RMB 100 per bond, approved by the China Securities Regulatory Commission [2][3]. - The bonds were listed on October 16, 2020, under the code "128132" [3]. Conversion Period and Price Adjustments - The conversion period for the bonds is from March 22, 2021, to September 14, 2026, with an initial conversion price of RMB 18.57 per share [3]. - The conversion price has been adjusted multiple times, with the latest adjustment setting it at RMB 10.00 per share effective June 25, 2025 [4][5]. Conditional Redemption Clause - The company can redeem the bonds if the stock price remains above 130% of the conversion price for at least fifteen trading days or if the unconverted bond balance falls below RMB 30 million [6][7]. - The redemption price is set at RMB 100.044 per bond, including accrued interest [7]. Redemption Implementation Arrangements - The redemption will occur on September 23, 2025, with funds transferred to bondholders' accounts on September 30, 2025 [8]. - After redemption, the bonds will be delisted from the Shenzhen Stock Exchange [8]. Shareholder Trading Activity - The company confirmed that major shareholders and executives did not trade the bonds in the six months leading up to the redemption conditions being met [8].

Meeting Information - The company will hold its second extraordinary general meeting of shareholders in 2025 on September 15, 2025, at 15:00 [1] - The meeting will include both on-site and online voting options for shareholders [2] Voting Procedures - Shareholders can choose between on-site voting and online voting, with online voting available through the Shenzhen Stock Exchange trading system and internet voting system [2][5] - Shareholders must register for the meeting with appropriate identification and documentation [4][5] Agenda Items - The meeting will review proposals, including a significant proposal regarding the company's joint investment with related parties to establish a project company [4]