01:55 在华北平原上，一座"未来之城"正拔节生长。这里不只有宏伟的蓝图，更有无数建设者奋进的脚步、滚烫的汗水，和正在发芽的梦想。 新年到来，我们走近雄安新区的建设者，听他们分享——那些被太阳晒亮的汗水，被时间见证的奉献，以及那些朴实的新年心愿。这些新年期盼，正与新区 跳动的发展脉搏，同频共振。 目前，400余家央企分支机构、超4000家北京来源企业在新区落地发展。空天信息、绿色能源、金融科技等多类央企二、三级子公司在雄安呈聚集态势。 雄安商务服务中心夜景（2025年3月15日摄，无人机照片）。雄安商务服务中心是雄安新区首个标志性城市建筑群，其朱红墙体、灰色飞檐的建筑彰显中式 特色。新华社记者 牟宇 摄用双手筑城，把期盼寄给远方。在一线工地奋战近9年的邵健民，话语朴实，字字厚重。这位来自河南的中铁十二局工人，先后参 与了雄安站等重点工程。谈起新年心愿，他没有豪言壮语——"就想多挣点钱。"他说得最多的是孩子："就盼着他能用心读书，有个好前程。"看着自己亲手 参与建设的校园拔地而起，他说："愿雄安越来越好。城市发展好，我们工人就更有奔头——靠这双手，为家，也为这座城，挣来更实在的日子。" 雄安新区总开发面积覆盖 ...

证券代码：002062 证券简称：宏润建设 宏润建设集团股份有限公司投资者关系活动记录表 编号：2026-02 2 | 投资者关系 | ■特定对象调研 □分析师会议 □媒体采访 □业绩说明会 | | --- | --- | | 活动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | 参与单位名称 | 中金公司—张若熙、崔力丹，中信证券—孔维实 | | 及人员姓名 | | | 时间 | 2026-01-23 | | 地点 | 宏润大厦会议室 | | 上市公司接待 | 董事会秘书薛锋、科技业务总监毛正 | | 人员姓名 | | | | 1、建筑行业业绩普遍承压，面对可能出现的新签合同量 | | | 收缩，公司是否有应对方案？ | | | 公司主营基础设施建设，其中大部分是桥梁、隧道和轨道 | | | 交通等施工技术要求较高的市政类项目。借助麻泾港枢纽工程 | | | 的中标和施工，公司也将积极拓展水利类等项目。同时，新能 | | | 源业务营收增长并实现稳定盈利，从盈利结构上助力公司应对 | | | 建筑行业的周期波动。 | | 投资者关系 | 2、新 ...

棕榈股份公告，预计2025年度净利润亏损10亿元—12亿元，上年同期亏损15.79亿元。报告期内，公司 所处建筑施工行业市场化竞争加剧，项目毛利有所下滑；同时公司部分在建项目施工进度放缓，以及历 史项目结算周期延后等影响，导致2025年度公司营业收入规模和毛利均有所下降。另外，受公司自身债 务规模影响，公司财务费用一直维持较高水平；同时公司基于审慎性原则，对相关资产计提了减值准 备。报告期内公司主营业务毛利未能覆盖财务费用、减值计提，导致公司整体经营业绩仍然亏损。 ...

明天建设集团，成立于2013年10月，现有员工5180多人，集房建、市政、机电、电力、通信等施工一级资质，全过程工程咨询、施工图审查一类、招标、设 计、造价、监理、测绘、地灾评估勘查设计、地灾施工等甲级资质，绿色双碳、综合检测、房地产资产评估、教育科技、互联网科技、软件开发、智能建筑 等全产业链的综合性企业集团，集团捐资创办了河南省鼎盛国防动员研究院（民非），投资创办60多家企业，集团设立北京、郑州双总部，西安、成都、重 庆、海口、贵阳设有全资子公司，各省市均设有分公司。 明天建设集团大楼 根据住建部建筑杂志社数字城乡项目组组长李百姓的建议，建筑业数字化转型背景下，服务碎片化与协同效率低下问题制约行业发展。本文以明天建设集团 提出的建筑超市模式为研究对象，探索基于数字化思维的平台创新路径。通过整合产业链核心资源，构建轻量化与生态化的数字平台架构，旨在提升协同效 率、降低交易成本。 建筑超市数字化转型 当前数字经济背景下，建筑超市的落地与发展需依托互联网平台这一成熟载体，其定位具有三重战略合理性：从风险管控看，互联网平台商业模式已通过市 场验证，成熟经验借鉴可有效规避建筑业转型创新风险；从资源整合看，平台网络效 ...

"十五五"规划建议提出，坚持城市内涵式发展，大力实施城市更新，建设创新、宜居、美丽、韧性、文明、智慧的现代化人民城市。 今年是"十五五"开局之年，国家在推进城市更新工作方面将有哪些重点部署，来看总台央视记者对住房城乡建设部部长倪虹的专访。 倪虹介绍，2025年我国城市更新工作取得明显成效。全国开工改造城镇老旧小区2.6万个，加装电梯1.4万部，改善了居住条件，惠及470多万居民；打造"口 袋公园"4700多个、城市绿道5800多公里，提升了城市人居环境；建设改造地下管网15.6万公里，增强了城市韧性。 "十五五"规划建议提出，推动房地产高质量发展。今年，在房地产领域，住房城乡建设部将有哪些工作重点？ 下一步，高质量推进城市更新，关键是要找准问题、有效解决问题。国家将坚持先体检、后更新，以体检找出的问题作为城市更新的重点，统筹实施好一系 列民生工程、发展工程、安全工程。 住房城乡建设部部长 倪虹：民生工程重点是抓好三件事，持续推进城镇老旧小区改造，抓好"楼道革命""环境革命""管理革命"。全面推进完整社区建设，更 加呵护"一老一小"，着力补上公共服务设施短板。开展城市小微公共空间改造，增加群众身边的社区公园、口 ...

Macro Strategy - The report highlights the investment value of the Guangfa CSI Media ETF (512980.SH), which is closely tracking the CSI Media Index (399971.SZ) and has a management fee of 0.5% per year and a custody fee of 0.1% per year [10] - As of January 16, 2026, the ETF has a circulation scale of 10.759 billion yuan, leading in scale and liquidity, with an annualized return of 29.47% and a volatility ratio of 0.89, indicating reasonable risk control [10] - The underlying index focuses on AI applications, with a high weight of GEO concept stocks, including major companies like BlueFocus and Rock Mountain Technology, which account for 31.43% of the index [10] - The report notes that the media sector is experiencing a bull market driven by AI technology transformation and the assetization of data elements, contrasting with the previous bull market driven by mobile internet traffic [10] Company Analysis Kangning Jereh Pharmaceutical-B (09966.HK) - The company is expected to have total revenues of 414 million yuan and 471 million yuan in 2025 and 2026, respectively, with a new forecast for 2027 at 563 million yuan [6] - The net profit forecast for 2025 and 2026 has been adjusted down to -115 million yuan and -97 million yuan, respectively, due to increased R&D expenses [6] - The company maintains a "Buy" rating as it anticipates a gradual reduction in losses with the upcoming domestic launch of product KN026 and the submission of JSKN003 for listing [6] Fuan Energy (002911) - The company reported a net profit of 1 billion yuan for 2025, a year-on-year increase of 17.3%, driven by strong growth in its energy and chemical business [17] - The forecast for net profit for 2025-2027 has been raised to 1 billion, 1.07 billion, and 1.12 billion yuan, respectively, reflecting a growth of 17.3%, 7.0%, and 4.4% [17] - The company maintains a "Buy" rating, supported by a stable natural gas business and diversified growth strategies [17] Huace Testing (300012) - The company expects a net profit of 1.01-1.02 billion yuan for 2025, with a growth rate of 10%-11%, and a strong performance in Q4 with a net profit increase of 15%-20% [18] - The report emphasizes the company's strategic focus on traditional markets and emerging sectors, which is expected to drive growth [19] - The company maintains an "Overweight" rating, with adjusted net profit forecasts for 2025-2027 at 1.02 billion, 1.16 billion, and 1.29 billion yuan [19] Tianfu Communication (300394) - The company forecasts a net profit of 1.88-2.15 billion yuan for 2025, representing a year-on-year increase of 40%-60% [20] - The growth is attributed to the acceleration of the AI industry and global data center construction, which has driven demand for high-speed optical devices [20] - The company is positioned to benefit from the upcoming commercial launch of its 1.6T optical engine products [20]

Core Viewpoint - Chengdu Road and Bridge (002628) expects a net profit loss of between 65 million to 97.5 million yuan for the year 2025, indicating continued financial struggles despite a slight increase in revenue [1][3]. Financial Performance - The projected net profit attributable to shareholders is a loss of 65 million to 97.5 million yuan, compared to a loss of 92.17 million yuan in the same period last year [1][3]. - The expected net profit after deducting non-recurring gains and losses is a loss of 68 million to 100 million yuan, compared to a loss of 65.21 million yuan in the previous year [1][3]. - Basic earnings per share are projected to be between -0.09 yuan and -0.13 yuan, compared to -0.12 yuan per share last year [1][3]. Reasons for Performance Changes - The primary reason for the expected loss is the ongoing pressure on the company's construction business, despite a slight increase in revenue for 2025. Financial expenses and other period costs remain significant, and delays in project payments have led to the recognition of expected credit losses on receivables [3]. Order and Contract Status - In the fourth quarter, the company secured only 2 new contracts worth 2.94 million yuan, with a total of 20 signed but uncompleted contracts amounting to approximately 389.59 million yuan by the end of the quarter [4]. Historical Performance - Since 2021, the company's net profit has declined for four consecutive years, with the first annual net loss recorded in 2024. The net profits from 2021 to 2024 were 79.02 million yuan, 9.11 million yuan, 4.49 million yuan, and -92.17 million yuan, respectively [5]. Shareholder Actions - A planned public auction of approximately 53 million shares held by a significant shareholder was halted due to disputes regarding the judicial auction process. This auction involved shares representing 7% of the company's total equity, with a starting price of about 183 million yuan [7]. Market Performance - As of January 22, the company's stock price increased by 2.68% to 4.60 yuan per share, with a total market capitalization of approximately 3.483 billion yuan [8].

Group 1 - The company Chengdu Road and Bridge expects a net profit loss attributable to shareholders of 65 million to 97.5 million yuan for the year 2025 [1] - The primary reason for the expected loss is the ongoing pressure on the company's construction business, despite a slight increase in operating revenue year-on-year [1] - Financial expenses and other period costs remain at a significant level, and delays in project payment collections have led to the recognition of expected credit losses on receivables, contributing to the continued loss in 2025 [1] Group 2 - Local state-owned assets have begun to "bottom-fish" in the auction housing market, purchasing over 60 properties in the Nansha District of Guangzhou at prices around 6,000 to 7,000 yuan per unit [1] - The average listing price for second-hand houses in the same community exceeds 20,000 yuan, indicating a significant price disparity [1]

Core Viewpoint - Chengdu Road and Bridge announced an expected net loss attributable to shareholders of 65 million to 97.5 million yuan for 2025, compared to a loss of 92.17 million yuan in the same period last year [1] Financial Performance - The expected net profit after deducting non-recurring items is projected to be a loss of 68 million to 100 million yuan, compared to a loss of 65.21 million yuan in the previous year [1] - The basic earnings per share are anticipated to be a loss of 0.09 to 0.13 yuan per share, compared to a loss of 0.12 yuan per share in the same period last year [1] Business Challenges - The primary reason for the expected losses is the pressure on the construction business, despite a slight year-on-year increase in revenue [1] - The company faces significant period expenses and delayed payments for completed projects, leading to the provision for credit losses on receivables [1]

成都路桥1月22日公告，预计2025年归属于上市公司股东的净利润亏损6500万元–9750万元，上年同期亏 损9217.21万元。报告期归属于上市公司股东的净利润为亏损主要系公司建筑施工业务持续承压，虽 2025年营业收入同比略有增加，但财务费用等期间费用仍维持一定规模，同时由于已完工项目工程回款 滞后，按会计政策计提应收款项的预期信用损失，导致公司2025年度仍处于亏损状态。 ...