证券代码：600339 证券简称：中油工程 公告编号：临 2025-041 中国石油集团工程股份有限公司 中国石油集团工程股份有限公司（简称"公司"）于 2025 年 8 月 28 日召开 第九届董事会第八次临时会议，审议通过了公司向特定对象发行 A 股股票的相关 议案。《中国石油集团工程股份有限公司向特定对象发行 A 股股票预案》及相关 公告具体内容详见上海证券交易所网站（www.sse.com.cn），敬请广大投资者注 意查阅。 上述预案披露事项不代表审批机关对公司本次向特定对象发行 A 股股票相 关事项的实质性判断、确认或者批准，预案所述本次向特定对象发行 A 股股票事 项尚需有权国资监管单位或有权的国家出资企业批准、公司股东会审议通过、上 海证券交易所审核通过及中国证券监督管理委员会同意注册后方可实施，敬请广 大投资者注意投资风险。 特此公告。 中国石油集团工程股份有限公司董事会 关于向特定对象发行 A 股股票预案披露的提示性公告 本公司董事会及全体董事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，并对其内容的真实性、准确性和完整性承担法律责任。 ...

Core Viewpoint - Wenke Co., Ltd. has shown a positive financial performance with a significant increase in net profit for the first half of 2025, indicating growth potential in the engineering construction sector [1] Financial Performance - As of August 29, 2025, Wenke Co., Ltd. reported a closing price of 4.43 yuan, reflecting a 0.45% increase from the previous trading day [1] - The company achieved a net profit attributable to shareholders of 11.197 million yuan in the first half of 2025, representing a year-on-year growth of 24.94% [1] Trading Activity - On August 29, 2025, the trading volume was 181,068 hands, with a total transaction amount of 79 million yuan [1] - The net outflow of main funds on August 29 was 7.4803 million yuan, with a cumulative net outflow of 75.6347 million yuan over the past five trading days [1] Business Focus - Wenke Co., Ltd. operates primarily in the engineering construction sector, focusing on new urbanization and sponge city initiatives [1]

Core Viewpoint - The report highlights the financial performance and strategic initiatives of China Energy Engineering Corporation Limited for the first half of 2025, showcasing growth in revenue and profit while emphasizing the company's commitment to high-quality development and innovation in the energy sector [1][3]. Financial Performance - The company reported a revenue of RMB 212.09 billion for the first half of 2025, representing a 9.18% increase compared to the same period last year [7]. - The total profit amounted to RMB 6.56 billion, reflecting a 5.49% year-on-year growth [7]. - The net profit attributable to shareholders was RMB 2.80 billion, a slight increase of 0.72% from the previous year [7]. - The company's total assets reached RMB 938.74 billion, up 8.02% from the end of the previous year [7]. Industry Overview - The energy sector in China is experiencing significant growth, with a focus on renewable energy sources. As of June 2025, installed capacity for wind power reached 573 million kW, and solar power reached 1.1 billion kW, marking increases of 22.7% and 54.2% respectively [6][8]. - The traditional energy sector remains robust, with coal and hydropower continuing to play crucial roles in the energy mix. Hydropower capacity grew by 3% year-on-year [6][8]. - The government is investing heavily in infrastructure, with total investment in power engineering reaching RMB 363.5 billion, a 5.9% increase year-on-year [6][8]. Strategic Initiatives - The company is actively pursuing the "1466" strategy, focusing on innovation and high-quality development across its operations [15]. - It aims to enhance its core competencies in energy and infrastructure, participating in major national projects such as the Yarlung Tsangpo River hydropower project and the development of new energy bases [15]. - The company is also expanding its international presence and engaging in high-level forums to promote its integrated energy solutions [15]. Business Segments - The company operates across various sectors, including energy, water conservancy, green transportation, and ecological protection, demonstrating a comprehensive service capability [10][12]. - In the first half of 2025, the company secured new contracts worth RMB 775.36 billion, with significant contributions from its core energy and infrastructure projects [15]. - The industrial manufacturing segment, which includes construction materials and equipment manufacturing, is also a key focus area, with ongoing efforts to enhance sustainability and innovation [12][13].

Group 1 - The board of directors of Ningbo Construction Co., Ltd. held its 22nd meeting of the 6th session on August 28, 2025, via telecommunication, with all 9 directors participating and voting [1] - All proposals presented during the board meeting were approved unanimously, with no dissenting or abstaining votes [1][2] - The meeting included the review of the revised draft of the asset purchase and related transaction report, necessitated by an extension of the asset evaluation report [1][2] Group 2 - The company engaged Zhejiang Yinxin Asset Appraisal Co., Ltd. to conduct an asset evaluation of Ningbo Traffic Engineering Construction Group Co., Ltd. as part of the transaction process, with the evaluation date set for December 31, 2024 [2] - The updated asset evaluation report confirmed that the asset values had not decreased, and the results will be used for information disclosure and regulatory submissions, but will not affect the transaction pricing [2][3]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The company's operating performance in the first half of 2025 remained stable with a slight increase, and the growth trend of the maintenance business revenue and new orders was good. The company will continue to promote business development around multiple business segments and strive to achieve high - quality development [25][27]. 3. Summary by Directory 3.1. Research Basic Situation - The research object is Zhejiang Jiaoke, belonging to the engineering construction industry. The reception time was on August 29, 2025. The listed company's reception personnel included the board secretary, the financial director Zhao Junwei, Lin Nanfang from the board office (Strategic Development Department), and Du Guohai from the market operation department (International Department) [16]. 3.2. Detailed Research Institutions - The research institutions included securities companies such as Tianfeng Securities, GF Securities, and Changjiang Securities; asset management companies like Shanghai Jiuxiang Asset and Hangzhou Zhongbai Asset; investment companies such as Shanghai Xishirun Investment and Guangdong Zhengyuan Investment; other institutions including Fidelity International and Jmen Finance; fund management companies like Tongtai Fund and Huaxia Fund; and insurance asset management companies such as Great Wall Wealth Insurance [17][18]. 3.3. Research Institution Proportion - Securities companies accounted for 26%, asset management companies 17%, investment companies 17%, other institutions 13%, fund management companies 22%, and insurance asset management companies 4% [20]. 3.4. Main Content Data - **Zhejiang's 2025 Comprehensive Transportation Investment Plan**: In 2025, Zhejiang plans to complete 350 billion yuan of comprehensive transportation investment, aiming for 360 billion yuan. It will build 160 kilometers of expressways, 280 kilometers of ordinary national and provincial roads, add 5 coastal berths of over 10,000 tons and 50 kilometers of inland waterways for 1,000 - ton vessels. It will promote the preliminary work of key projects and ensure the start of 30 major projects, aiming for 40. It will also accelerate the construction of key projects and promote the "Four - Good Rural Roads" 2.0 version [24]. - **Controlling Shareholder's Transportation Infrastructure Investment Plan**: In 2024, Zhejiang Transportation Group completed 74.7 billion yuan of transportation investment, accounting for about 18% of the province. In 2025, it plans to complete over 73.9 billion yuan of transportation investment, promoting the start of multiple projects and accelerating the construction of ongoing projects [25]. - **Company's 2025 First - Half Operating Conditions**: The company achieved an operating income of 18.647 billion yuan, a year - on - year increase of 1.12%. The net profit attributable to the parent company was 545 million yuan, a year - on - year increase of 6.43% [25]. - **Company's Gross Margin Situation**: In the first half of 2025, the gross margin of the construction business was 9.15%, a year - on - year increase of 1.04%. The gross margin of the maintenance business decreased, but it is expected to improve later [26]. - **Company's Order Situation**: From January to June 2025, the company received 567 new orders worth 32.157 billion yuan, a decrease compared to the same period in 2024. As of the end of the first half of 2025, the total contract value of ongoing projects was 224.087 billion yuan, with 90.873 billion yuan of cumulative recognized revenue and 133.214 billion yuan of remaining unfinished work [27]. - **Company's Maintenance Business Development**: The company's maintenance business has formed professional and scale advantages. It will extend the investment - construction - maintenance integrated business, expand the market, and promote green maintenance [27]. - **Company's Investment - Type Projects**: The company's ongoing investment - type projects include various models such as equity cooperation, PPP, and area development. There are multiple ongoing PPP projects [28]. - **Yitong Special Foundation Situation**: Zhejiang Yitong Special Foundation Engineering Co., Ltd. and its subsidiary Zhejiang Zhongrui Heavy Industry Technology Co., Ltd. have strong technical strength and business scope, and Zhejiang Jiaotong has completed the equity acquisition and capital increase [28][29]. - **Company's Low - Altitude and Water Conservancy Business Layout**: The company's subsidiaries won bids for relevant projects, which are beneficial attempts for business diversification [29]. - **Company's New Equipment and New Material Business Development**: The company's new equipment and new material business is mainly carried out by subsidiaries. The new equipment business will be upgraded, and the new material business will be industrialized [29][30]. - **Company's Cash Dividend Plan**: The company's profit distribution considers multiple factors. In 2024, it distributed 334 million yuan in cash dividends, and it will optimize the dividend plan in the future [31]. - **Company's Future Development Plan**: The company is planning the "14th Five - Year" development plan, aiming to become a leading enterprise in new infrastructure and promote high - quality development around five major business segments [31].

Group 1: Banking Sector Performance - Bank of China reported a net profit of 117.59 billion yuan for the first half of the year, a year-on-year decrease of 0.85% [1] - Industrial and Commercial Bank of China achieved a net profit of 168.1 billion yuan, down 1.4% year-on-year, with total assets exceeding 52 trillion yuan [2] - Agricultural Bank of China saw a net profit increase of 2.7% year-on-year, reaching 139.5 billion yuan [3] - China Construction Bank reported a net profit of 162.64 billion yuan, a decline of 1.45% year-on-year [4] Group 2: Corporate Developments - SMIC announced plans to issue A-shares to acquire minority stakes in its subsidiary, leading to a temporary suspension of its stock [5] - Changfei Fiber reported a net profit of 296 million yuan, down 21.71% year-on-year, despite a revenue increase of 19.38% [6] - China Rare Earth achieved a turnaround with a net profit of 162 million yuan, compared to a loss of 244 million yuan in the previous year [7] - CNOOC Engineering won a bid for two segments of the "BH" project from Qatar Energy, with a contract value of approximately 4 billion USD [8] - Aerospace Hongtu signed a procurement contract for satellite and ground systems with a total value of 990 million yuan [9] - Tailin Micro plans to acquire 100% of Panqi Micro's equity, with its stock set to resume trading [10][11] Group 3: Performance Highlights - Shanshan Co. reported a net profit of 207 million yuan, a significant increase of 1079.59% year-on-year [12] - Wanfu Co. achieved a net profit of 25.14 million yuan, up 91.69% year-on-year [12] - Various companies reported substantial profit increases, including Youyan New Materials with a 218.47% rise and Pacific with a 76.65% increase [12][14]

Core Viewpoint - The stock of Zhonggong International (002051) has shown a decline in both price and financial performance, with significant net outflows from major funds, indicating potential challenges ahead for the company [1][3][4]. Financial Performance - As of August 29, 2025, Zhonggong International's stock closed at 8.65 yuan, down 0.57% with a trading volume of 131,800 shares and a turnover of 114 million yuan [1]. - The company's mid-year report for 2025 revealed a main revenue of 4.788 billion yuan, a year-on-year decrease of 12.95%, and a net profit attributable to shareholders of 177 million yuan, down 34.86% year-on-year [3]. - In Q2 2025, the company reported a single-quarter main revenue of 2.605 billion yuan, a decline of 16.96%, and a net profit of 45.83 million yuan, down 70.39% year-on-year [3]. Fund Flow Analysis - On August 29, 2025, the net outflow of major funds was 10.0615 million yuan, accounting for 8.79% of the total turnover, while retail investors saw a net inflow of 2.8599 million yuan, representing 2.5% of the total turnover [1][2]. - Over the past five days, the trend shows a consistent net outflow from major funds, with the highest outflow recorded on August 27 at 22.9661 million yuan [2]. Company Metrics and Industry Comparison - Zhonggong International's total market value is 10.704 billion yuan, with a net asset value of 11.801 billion yuan, ranking 23rd and 19th respectively in the engineering construction industry [3]. - The company's price-to-earnings ratio (P/E) stands at 30.23, significantly higher than the industry average of 12.01, indicating a potential overvaluation [3]. - The gross profit margin is reported at 18.6%, which is above the industry average of 13.85%, while the net profit margin is 3.67%, compared to the industry's negative margin of -5.37% [3]. Analyst Ratings - In the last 90 days, four institutions have provided ratings for Zhonggong International, with three giving a "buy" rating and one an "accumulate" rating, while the average target price set by analysts is 10.15 yuan [4].

Group 1 - The stock of Beifang International (000065) closed at 11.46 yuan on August 29, 2025, down 0.61% with a turnover rate of 1.65% and a trading volume of 160,400 hands, resulting in a transaction amount of 185 million yuan [1] - The net outflow of main funds on August 29 was 5.81 million yuan, accounting for 3.15% of the total transaction amount, while the net inflow of speculative funds was 9.37 million yuan, accounting for 5.08% [1][2] - Over the past five days, the stock has experienced a decline in main funds, with the largest net outflow recorded on August 25 at 51.24 million yuan, while speculative funds showed a net inflow on August 29 [2] Group 2 - Beifang International's total market value is 12.278 billion yuan, with a net asset of 10.858 billion yuan and a net profit of 309 million yuan, ranking 19th, 21st, and 20th respectively in the engineering construction industry [3] - The company's mid-year report for 2025 indicates a significant decline in revenue, with a main income of 6.735 billion yuan, down 35.34% year-on-year, and a net profit of 309 million yuan, down 42.71% year-on-year [3] - The company's gross profit margin is 13.09%, while the net profit margin is 4.48%, indicating a relatively low profitability compared to the industry average [3] Group 3 - In the last 90 days, six institutions have rated the stock, with five giving a buy rating and one an increase rating, while the average target price set by institutions is 13.94 yuan [4]

Core Viewpoint - China Metallurgical Group Corporation (China MCC) reported a significant decline in revenue and net profit for the first half of 2025, indicating challenges in the current market environment [1][2]. Financial Performance - Revenue for the first half of 2025 was CNY 237.53 billion, a decrease of 20.52% year-on-year [1]. - Total profit amounted to CNY 5.28 billion, down 7.08% compared to the previous year [1]. - Net profit attributable to shareholders was CNY 3.10 billion, reflecting a 25.31% decline year-on-year [1]. - Basic earnings per share were CNY 0.09 [1]. Contract and Asset Overview - New contract value reached CNY 548.20 billion, a decrease of 19.12% from CNY 677.80 billion in the first half of 2024 [1]. - Total assets as of June 30, 2025, were CNY 857.41 billion, an increase of 6.11% from CNY 808.02 billion at the end of 2024 [1]. - Shareholder equity was CNY 180.60 billion, down 0.95% from CNY 182.34 billion at the end of 2024 [1]. Business Development and Market Strategy - The company has strengthened its core business by focusing on metallurgical engineering and mining, achieving a new contract value of CNY 120.20 billion, which accounted for 21% of total contracts [2]. - Significant progress was made in low-carbon iron-making technology with the signing of the Tecnored project in Brazil [2]. - The company reported a 32.6% year-on-year increase in new contracts from overseas markets, totaling CNY 57.75 billion [2]. - Domestic market efforts included a strong presence in key regions, with notable achievements in the Xiong'an New Area [2].

8月29日，山东高速集团宣布获得两个百亿级海外项目——中标马来西亚智慧仓储总承包项目，签署尼 莱智慧城市建设EPC总承包项目框架合同。马来西亚智慧仓储项目拟在雪兰莪、柔佛、彭亨、登嘉楼等 地为行业客户定制化建设智慧仓库，托盘位总数共计200万个，合同额60亿林吉特（102亿元人民币）。 尼莱智慧城市建设项目计划在未来十年内投资70亿美元（501亿元人民币），建设内容包括年产10万台 新能源汽车及零部件的汽车制造中心、高科技智能制造中心，医疗城及商业中心等配套设施。框架协议 签署后，集团将分七期推进项目实施；其中首期承包合同额约16亿美元（114.5亿元人民币）。 ...