Core Insights - The engineering consulting services sector experienced a decline of 2.12% on November 19, with Hualan Group leading the drop [1][2] - The Shanghai Composite Index closed at 3946.74, up 0.18%, while the Shenzhen Component Index closed at 13080.09, unchanged [1] Sector Performance - The engineering consulting services sector saw a net outflow of 337 million yuan from major funds, while retail investors contributed a net inflow of 221 million yuan [2][3] - Key stocks in the sector included: - Jianfa Hecheng (603809) with a closing price of 13.58, up 4.46% and a trading volume of 227,900 shares [1] - Hualan Group (301027) closed at 17.51, down 11.79% with a trading volume of 261,800 shares [2] Individual Stock Movements - Major stocks that declined included: - Hualan Group (301027) with a significant drop of 11.79% [2] - Taiji Industry (600667) down 5.27% [2] - Stocks with positive movement included: - Jianfa Hecheng (603809) up 4.46% [1] - Youan Design (300983) up 2.13% [1] Fund Flow Analysis - Major funds showed a negative net inflow for several stocks, including: - Tongji Technology (600846) with a net outflow of 30.80 million yuan [3] - Matrix Co. (301365) with a net inflow of 6.01 million yuan [3] - Retail investors showed varied interest, with some stocks like Zhongshi Co. (002883) experiencing a net inflow of 1.82 million yuan [3]

Core Insights - The engineering consulting services sector experienced a decline of 0.95% on November 18, with HanJia Design leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - Tongji Technology (600846) saw a significant increase of 9.39%, closing at 16.90 with a trading volume of 312,500 shares and a transaction value of 521 million [1] - Matrix Co. (301365) rose by 4.94%, closing at 23.60 with a trading volume of 127,600 shares and a transaction value of 296 million [1] - Other notable performers included Huatu Shanlu (300492) with a 2.44% increase, closing at 69.81, and Jingwei Co. (301390) with a 1.00% increase, closing at 38.35 [1] Capital Flow - The engineering consulting services sector experienced a net outflow of 261 million from institutional investors, while retail investors saw a net inflow of 287 million [2] - Tongji Technology had a net inflow of 104 million from institutional investors, but a net outflow of 68.58 million from retail investors [2] - Matrix Co. had a net inflow of 45.86 million from institutional investors, while retail investors experienced a net outflow of 55.76 million [2]

Core Insights - The engineering consulting services sector experienced a decline of 0.34% on November 17, with Shanshui Bide leading the drop [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - The top-performing stock was Jianfa Hecheng, which rose by 10.01% to a closing price of 13.52, with a trading volume of 174,800 shares and a transaction value of 232 million [1] - Other notable gainers included Tongji Technology (+4.46%), Zhaobiao Co. (+2.52%), and Shenzhen Ruijie (+1.45%) [1] - Conversely, Shanshui Bide saw a significant decline of 18.81%, closing at 43.68, with a trading volume of 62,100 shares and a transaction value of 301 million [2] Capital Flow - The engineering consulting services sector experienced a net outflow of 251 million from institutional investors, while retail investors saw a net inflow of 360 million [2][3] - The capital flow data indicates that major stocks like Jianfa Hecheng and Tongji Technology had mixed net inflows and outflows from different investor categories [3]

Core Viewpoint - The engineering consulting services sector experienced a decline of 0.6% on November 14, with significant losses led by Taiji Industrial. The Shanghai Composite Index closed at 3990.49, down 0.97%, while the Shenzhen Component Index closed at 13216.03, down 1.93% [1] Sector Performance - The following companies in the engineering consulting services sector showed notable performance: - Zhongda An (300635) closed at 16.65, up 6.87% with a trading volume of 91,000 shares and a transaction value of 149 million yuan - Jianfa Hecheng (603909) closed at 12.29, up 3.98% with a trading volume of 114,500 shares and a transaction value of 140 million yuan - Zhaobiao Co. (301136) closed at 14.68, up 3.23% with a trading volume of 356,300 shares and a transaction value of 523 million yuan - Kuan She Co. (603458) closed at 8.86, up 2.07% with a trading volume of 95,500 shares and a transaction value of 84.19 million yuan - Jiangtu Chuan Province (300492) closed at 68.13, up 1.87% with a trading volume of 14,100 shares and a transaction value of 96.22 million yuan - Youan Design (300983) closed at 25.39, up 1.76% with a trading volume of 29,700 shares and a transaction value of 75.75 million yuan - Zhongheng Design (603017) closed at 10.21, up 1.69% with a trading volume of 80,700 shares and a transaction value of 82.33 million yuan - Jianke Institute (300675) closed at 17.61, up 1.62% with a trading volume of 78,200 shares and a transaction value of 137 million yuan - Shenzhen Ruijie (300977) closed at 66.61, up 1.58% with a trading volume of 26,800 shares and a transaction value of 53.66 million yuan - Qidi Design (300500) closed at 14.56, up 1.18% with a trading volume of 45,600 shares and a transaction value of 66.45 million yuan [1] Capital Flow - The engineering consulting services sector saw a net outflow of 526 million yuan from major funds, while retail investors contributed a net inflow of 500 million yuan. Speculative funds recorded a net inflow of 26.34 million yuan [1]

Core Viewpoint - The company has made progress in collecting accounts receivable and plans to enhance its collection mechanisms while addressing long-term overdue accounts through targeted strategies [1] Group 1 - The company has achieved certain results in its accounts receivable collection efforts [1] - The company will further improve its accounts receivable collection mechanism [1] - The company plans to conduct a special cleanup of long-term overdue accounts [1] Group 2 - The company will implement categorized strategies to enhance collection efforts [1] - Measures such as dedicated collection teams and litigation will be employed to increase accounts receivable recovery [1] - The company aims to manage accounts receivable risks more effectively [1]

Core Insights - The engineering consulting services sector saw a slight increase of 0.12% on November 13, with Hualan Group leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Stock Performance - Hualan Group (301027) closed at 19.85, with a rise of 8.59% and a trading volume of 228,700 shares, amounting to a transaction value of 444 million yuan [1] - Other notable performers included: - Zhaobiao Co. (301136) at 14.22, up 3.80% [1] - Huayang International (002949) at 14.93, up 1.91% [1] - Youan Design (300983) at 24.95, up 1.51% [1] Capital Flow - The engineering consulting services sector experienced a net outflow of 209 million yuan from institutional investors, while retail investors saw a net inflow of 168 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2][3] Individual Stock Capital Flow - Notable net inflows from retail investors included: - Shanshui Bide (300844) with a retail net inflow of 1.17 million yuan [3] - Tongji Technology (600846) with a retail net inflow of 731,830 yuan [3] - Conversely, significant net outflows from institutional investors were observed in: - Huatu Shanding (300492) with a net outflow of 1.43 million yuan [3] - Jianyan Design (301167) with a net outflow of 459,910 yuan [3]

Core Viewpoint - The company, Zhaobiao Co., Ltd. (招标股份), has confirmed its focus on engineering consulting services, which encompass various sectors including water conservancy [2]. Group 1: Company Overview - Zhaobiao Co., Ltd. has been dedicated to engineering consulting for several decades [2]. - The company's business scope includes multiple fields such as highways, water transport, construction, municipal projects, water conservancy and hydropower, natural resources, marine, mechanical and electrical installation, and agriculture and forestry [2].

Core Insights - The engineering consulting services sector experienced a slight increase of 0.14% on November 12, with Shanshui Bide leading the gains [1] - The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1] Performance Summary - Shanshui Bide (300844) closed at 53.30, up 6.22% with a trading volume of 24,800 and a transaction value of 129 million [1] - Hualan Group (301027) closed at 18.28, up 6.16% with a trading volume of 153,800 and a transaction value of 277 million [1] - Other notable performers include Huatu Shanding (300492) at 66.56, up 2.72%, and Tongji Technology (600846) at 14.75, also up 2.72% [1] Fund Flow Analysis - The engineering consulting services sector saw a net outflow of 34.86 million from institutional investors and 27.34 million from retail investors, while individual investors contributed a net inflow of 62.20 million [2] - Major stocks like Taiji Industry (600667) had a net inflow of 171 million from institutional investors, while Hualan Group (301027) saw a net inflow of 30.48 million [3] - Conversely, Suzhou Planning (301505) experienced a significant decline of 5.03% with a trading volume of 41,100 and a transaction value of 96.88 million [2]

Group 1 - The core viewpoint of the news is that 招标股份 experienced a decline in stock price and trading volume, with significant financing activity indicating high leverage levels [1][2] - As of November 11, 招标股份' stock price fell by 2.86%, with a trading volume of 314 million yuan, and a net financing purchase of 1.82 million yuan [1] - The financing balance of 招标股份 reached 121 million yuan, accounting for 3.10% of its market capitalization, which is above the 90th percentile of the past year [1] Group 2 - As of September 30, the number of shareholders for 招标股份 decreased by 8.62% to 14,200, while the average circulating shares per person increased by 9.44% to 19,362 shares [2] - For the period from January to September 2025, 招标股份 reported a revenue of 314 million yuan, a year-on-year decrease of 4.03%, while the net profit attributable to shareholders increased by 476.01% to 7.18 million yuan [2] Group 3 - Since its A-share listing, 招标股份 has distributed a total of 57.24 million yuan in dividends, with 29.72 million yuan distributed over the past three years [3]

Summary of Key Points Core Viewpoint The Beijing Stock Exchange (BSE) has seen a decrease in trading volume and value over the past week, with a total of 282 listed companies as of November 9, 2025. The market is also witnessing new listings and ongoing IPO activities, indicating a dynamic but challenging environment for investors. Trading Activity - As of November 9, 2025, the BSE has 282 listed companies with a total share capital of 39.225 billion shares and a circulating share capital of 25.056 billion shares [2] - For the week of November 3 to November 9, the trading volume was 4.925 billion shares, a decrease of 17.24% week-on-week, while the trading value was 1136.16 billion yuan, down 21.40% from the previous week [3] - The average trading price during this period was 23.07 yuan, reflecting a decrease of 5.03% [3] - The BSE 50 Index fell by 3.79% to 1522.73 points, with 9 stocks rising and 41 stocks declining [3] New Listings and IPOs - Two companies successfully listed on the BSE during the week of November 3 to November 9, 2025 [7] - The newly listed companies include: - **Danna (Tianjin) Biotechnology Co., Ltd.**: Listed on November 3, 2025, with a first-day trading surge of 497.08% and a closing price of 102.10 yuan [8][10] - **Zhongcheng Consulting Group Co., Ltd.**: Listed on November 7, 2025, with a first-day increase of 170.08% and a closing price of 35.60 yuan [13][30] - Both companies aim to raise approximately 1.37 billion yuan for various projects, including R&D and infrastructure [10][30] Financial Performance of Newly Listed Companies - **Danna Biotechnology**: - Revenue for 2022-2024: 295 million yuan, 237 million yuan, 240 million yuan; Net profit: 44.62 million yuan, 77.60 million yuan, 87.19 million yuan [10] - 2025 H1 revenue decreased by 1.38% to 116 million yuan, while net profit increased by 29.55% to 49.96 million yuan [11] - **Zhongcheng Consulting**: - Revenue for 2022-2024: 303 million yuan, 368 million yuan, 396 million yuan; Net profit: 64.36 million yuan, 81.06 million yuan, 105 million yuan [13] - 2025 H1 revenue decreased by 4.08% to 191 million yuan, and net profit decreased by 2.66% to 53.29 million yuan [14] Ongoing IPO Activities - As of November 9, 2025, there are 104 companies awaiting approval for listing on the BSE, with various stages of the IPO process [6] - Two companies submitted registration during the week, while three companies passed the listing committee meetings [25][26] - Notable companies that passed the listing committee include: - **Qilong Ocean**: Engaged in oil drilling equipment manufacturing, aiming to raise 382 million yuan [27] - **Haiseng Medical**: Focused on medical device manufacturing, seeking to raise 370 million yuan [30] - **Guoliang New Materials**: Specializing in refractory materials, aiming to raise 175 million yuan [33] Market Dynamics - The BSE is experiencing fluctuations in trading activity and new listings, reflecting both opportunities and challenges in the current market environment [3][6][25]