Investment Rating - The report assigns a "Buy" rating for Jianghe Group, expecting the stock to outperform the benchmark index by more than 20% within the next six months [2][13]. Core Insights - Jianghe Group has announced a three-year high dividend plan, committing to distribute at least 80% of the annual net profit attributable to shareholders or a minimum of CNY 0.45 per share (including tax), whichever is higher, for the years 2025-2027 [5][6]. - The company reported a strong cash flow performance, with operating cash flow of CNY 1.63 billion in 2024, supporting its high dividend payout [6]. - The company has seen a 6.3% year-on-year increase in new orders, totaling CNY 13.69 billion in the first half of 2025, driven by robust demand for curtain walls and photovoltaic buildings, particularly from overseas markets [6][7]. Financial Performance and Forecast - Revenue projections for Jianghe Group are CNY 24.2 billion in 2025 and CNY 26.2 billion in 2026, reflecting year-on-year growth rates of 8.1% and 8.0%, respectively [7][9]. - The net profit attributable to shareholders is expected to reach CNY 6.86 billion in 2025 and CNY 7.57 billion in 2026, with growth rates of 7.7% and 10.2% [7][9]. - The company's PE ratios for 2025 and 2026 are projected to be 12.2X and 11.0X, respectively, indicating a favorable valuation [7][9]. Market Position and Strategy - Jianghe Group is expanding its overseas business, establishing a dedicated overseas division and targeting markets in the Middle East and Southeast Asia, which is expected to drive significant growth in new orders [6][7]. - The company has a strong market position in the curtain wall segment, benefiting from increased market share due to its comprehensive advantages [6][7].

Group 1 - The core indices, including the China Securities Dividend Low Volatility Index, China Securities Dividend Value Index, and China Securities Dividend Index, all increased by 0.7% as of the midday close [1][5] - The Hang Seng Dividend Low Volatility ETF (159545) has seen net inflows for 20 consecutive trading days, with its product scale reaching nearly 3.8 billion, setting a new record since its inception [1] - The composition of the indices reflects high dividend levels and low volatility among A-share listed companies, with the banking, transportation, and construction decoration industries accounting for a combined 70% [5] Group 2 - The Hang Seng Dividend Low Volatility ETF tracks the Hang Seng Hong Kong Stock Connect High Dividend Low Volatility Index [6] - This index consists of 50 stocks within the Hong Kong Stock Connect that have good liquidity, continuous dividends, moderate dividend payout ratios, and low volatility, with the financial, industrial, and energy sectors making up nearly 70% [7] - The Dividend Value ETF tracks the China Securities Dividend Value Index, which is composed of 50 stocks characterized by high dividend yields and value traits [9]

Group 1 - The stock price of Quanzhu Co., Ltd. closed at 2.69 yuan on July 29, 2025, down 1.10% from the previous trading day [1] - The trading volume on that day was 747,607 hands, with a transaction amount of 200 million yuan [1] - Quanzhu Co., Ltd. is primarily engaged in architectural decoration design and construction, and has recently disclosed a private placement plan to raise no more than 180 million yuan [1] Group 2 - The raised funds will mainly be used for projects related to an AI-based design and product ecosystem platform in the construction industry, as well as for the establishment of a marketing display center and brand promotion [1] - On July 29, the net outflow of main funds for Quanzhu Co., Ltd. was 17.2446 million yuan, accounting for 0.49% of the circulating market value [2]

从港股行业表现来看，今年1月1日至7月29日，申万31个一级行业全部上涨，其中涨幅超过20%的行业 24个，涨幅超过40%的行业15个，涨幅超过60%的行业6个，涨幅前三大行业分别为农林牧渔、轻工制 造、医药生物，涨幅分别达174.98%、147.57%、103.13%；涨幅居后三大行业分别为家用电器、建筑装 饰，煤炭，涨幅分别为7.53%、9.52%、10.58%。 【深圳商报讯】（记者钟国斌）今年以来，港股领涨全球主要股市。DeepSeek、新消费、创新药等板 块轮番表现，助推港股恒生指数频创年内新高。据记者统计，截至今年7月29日，恒生指数收报 25524.45点，涨幅达27.24%，在全球主要股市涨幅第一。 从全球主要股市表现来看，今年以来港股市场一枝独秀。以美股、欧洲股市和日本股市为例，今年以 来，美国股市三大指数涨幅均为个位数，其中道琼斯指数涨幅为5.39%、标普500指数涨幅为8.64%，纳 斯达克指数涨幅为9.67%；德国、英国、法国股市涨幅分别为21.74%、11.53%、6.80%；日本股市日经 225指数涨幅为1.96%。 （文章来源：深圳商报） 从港股个股表现来看，今年1月1日至7月2 ...

来源：新浪财经-鹰眼工作室 market 近日，ST瑞和（002620）发布《深圳瑞和建筑装饰股份有限公司关于累计诉讼、仲裁情况的公 告》。公告显示，公司依据《深圳证券交易所股票上市规则》相关规定，对公司及控股子公司连续十二 个月累计涉及诉讼、仲裁事项进行统计。 截至目前，除历次已专项、累计披露过的诉讼/仲裁案件外，公司及控股子公司连续十二个月内累计诉 讼、仲裁事项涉案件共计14件，涉案金额合计约为人民币1038.85万元。其中，2025年7月29日当日统计 归档1个案件材料，金额为58.56万元。该涉案金额超过公司最近一期经审计净资产绝对值10% 。不过， 公司及控股子公司不存在单项涉案金额占公司最近一期经审计净资产绝对值10%以上，且绝对金额超过 人民币1000万元的重大诉讼、仲裁事项。 同时，公司及控股子公司不存在其他应披露而未披露的诉讼、仲裁事项。 由于相关案件处于尚未开庭审理或尚未出具判决结果或判决结果尚未生效等阶段，其对公司本期利润或 期后利润的影响存在不确定性。公司将依据有关会计准则的要求和实际情况进行相应的会计处理，并及 时按照规则要求履行信息披露义务。在此，提醒广大投资者注意投资风险。本次公 ...

一、强势个股 截至7月29日收盘，上证综指上涨0.33%，收于3609.71点，深证成指上涨0.64%，收于11289.41点，创业 板指上涨1.86%，收于2406.59点。今日沪深两市A股共计48只涨停，综合当前连板数以及当日龙虎榜数 据，其中较为强势的前三只个股分别为：南方路机（603280）、山河智能（002097）与西藏天路 （600326）。今日强势个股前10位具体数据见下表： | 概念名称 | 涨跌幅(%) | 涨停成分股占比(%) | 上涨成分股占比(%) | 下跌成分股占比(%) | | --- | --- | --- | --- | --- | | CRO概念 | 4.0 | 4.48 | 91.04 | 8.96 | | 变组蛋白 | 29 | 1.96 | 80.39 | 17.65 | | 创新药 | 279 | 3.86 | 82.83 | 16.31 | | 减肥药 | 2.76 | 1.82 | 89.09 | 10.91 | | F5G概念 | 243 | 278 | 75.0 | 25.0 | | 细胞免疫治疗 | 2.42 | 1.69 | 71.19 | 27.12 | ...

证券日报网讯海南发展（002163）7月29日在互动平台回答投资者提问时表示，公司将积极把握海南自 贸港封关这一重大战略发展机遇，深入挖掘业务机会，积极投身海南自贸港建设。 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - This weekly report tracks the liquidity scores of individual bonds in different bond sectors based on the bond asset liquidity scores of qb. The liquidity of medium - to long - term, medium - to high - rated urban investment bonds has decreased, while the liquidity of medium - to long - term industrial bonds has increased [1]. 3. Summary by Relevant Catalogs 3.1 Urban Investment Bonds: Decreased Liquidity of Medium - to Long - Term, Medium - to High - Rated Bond Items - **Quantity Changes**: The number of high - grade, high - liquidity urban investment bonds with medium - to long - terms and medium - to high - ratings has decreased. Regionally, the number of high - grade, high - liquidity bond items has increased in Shandong and Sichuan, remained stable in Chongqing, and decreased in Jiangsu and Tianjin. In terms of maturity, the number of high - grade, high - liquidity bond items has remained stable for those within 1 year and over 5 years, but decreased for those in the 1 - 2 - year, 2 - 3 - year, and 3 - 5 - year ranges. In terms of implicit ratings, the number of high - grade, high - liquidity bond items with implicit ratings of AAA, AA+, AA, AA(2), and AA - has all decreased, with a larger decrease in medium - to high - rated bonds [1][7]. - **Yield Changes**: Regionally, the yields of high - grade, high - liquidity urban investment bonds in Jiangsu, Shandong, Sichuan, Tianjin, and Chongqing have mainly increased, with the increase ranging from 5 - 15bp. In terms of maturity and implicit ratings, the yields of high - grade, high - liquidity urban investment bonds have mainly increased, with the increase ranging from 8 - 12bp [8]. - **Top 20 in Liquidity Score Increase**: The main body level is mainly AA, concentrated in regions such as Jiangsu, Zhejiang, Sichuan, Anhui, and Hunan, and the industries mainly involve construction decoration, transportation, and comprehensive industries [10]. - **Top 20 in Liquidity Score Decrease**: The main body level is mainly AA, with regional distribution mainly in Jiangsu, Zhejiang, Hunan, Fujian, and Shanghai, and the industries are mainly construction decoration, real estate, and comprehensive industries [10]. 3.2 Industrial Bonds: Increased Liquidity of Medium - to Long - Term Bond Items - **Quantity Changes**: The number of high - grade, high - liquidity industrial bonds with medium - to long - terms has increased. By industry, the number of high - grade, high - liquidity bond items has increased in the public utilities and steel industries, and decreased in the real estate, transportation, and coal industries. In terms of maturity, the number of high - grade, high - liquidity bond items has increased for those in the 2 - 3 - year, 3 - 5 - year, and over 5 - year ranges, remained stable for those in the 1 - 2 - year range, and decreased for those within 1 year. In terms of implicit ratings, the number of high - grade, high - liquidity bond items with implicit ratings of AAA, AAA -, and AA+ has increased, while the number with implicit ratings of AAA+ and AA - has decreased [2][16]. - **Yield Changes**: By industry, the yields of high - grade, high - liquidity bonds in the public utilities, transportation, coal, and steel industries have mainly increased, with the increase ranging from 8 - 15bp. The yields of bond items with a liquidity level of B in the real estate industry have decreased, with a decrease of about 12bp. In terms of maturity, the yields of high - grade, high - liquidity bonds at all maturities have mainly increased, with the increase ranging from 10 - 14bp. In terms of implicit ratings, the yields of high - grade, high - liquidity bond items at all implicit ratings have mainly increased, with the increase ranging from 8 - 10bp [17]. - **Top 20 in Liquidity Score Increase**: The industries of the top 20 main bodies in liquidity score increase are mainly commerce and retail, real estate, and power equipment, and the main body levels are mainly AAA and AA+. The industries of the top 20 bonds are mainly transportation, public utilities, and real estate [18]. - **Top 20 in Liquidity Score Decrease**: The top 20 main bodies in liquidity score decrease are mainly in the construction decoration, real estate, and transportation industries, and the main body levels are mainly AAA and AA. The industries of the top 20 bonds are mainly transportation, public utilities, and coal [18].

| 业务分类 | | 2025 年 | 1-6 月 | | | --- | --- | --- | --- | --- | | | 中标额 | 中标额同比 | 中标数量 | 中标数量同比 | | | （亿元） | 涨跌幅（%） | （个） | 涨幅（%） | | 幕墙与光伏 建筑 | 90.73 | 9.84 | 114 | 20.00 | | 室内装饰与 设计 | 46.21 | -0.06 | 294 | -19.89 | | 合计 | 136.94 | 6.29 | 408 | -11.69 | 公司 2025 年半年度无已签订尚未执行的重大项目。 上述数据为阶段性统计数据，仅供投资者参考,敬请投资者注意投资风险。 股票代码：601886 股票简称：江河集团 公告编号：临2025-028 江河创建集团股份有限公司 关于 2025 年半年度主要经营数据的公告 本公司及董事会全体成员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、准确和完整承担个别及连带责任。 江河创建集团股份有限公司(下称"公司")建筑装饰板块 2025 年半年度累 计中标金额约为人民币 136.94 亿元, ...

Core Insights - Jianghe Group (601886) announced a cumulative winning bid amount of approximately 13.694 billion yuan in the building decoration sector for the first half of 2025, representing a year-on-year increase of 6.29% [1] Summary by Category Bidding Performance - The winning bid amount for the curtain wall and photovoltaic building business was approximately 9.073 billion yuan, showing a year-on-year increase of 9.84% [1] - The number of bids won in this segment reached 114, which is a year-on-year increase of 20.00% [1] - The winning bid amount for the interior decoration and design business was approximately 4.621 billion yuan, with a slight year-on-year decrease of 0.06% [1] - The number of bids won in this segment was 294, reflecting a year-on-year decrease of 19.89% [1] - The total number of bids won was 408, which represents a year-on-year decrease of 11.69% [1] Project Status - The company reported no major projects that have been signed but not yet executed during the half-year period [1]