Core Viewpoint - The Chinese government is intensifying efforts to combat bid-rigging activities, leading to significant legal actions against individuals involved in such crimes across various sectors, including construction and medical equipment procurement [1][2][3][4][5][6]. Group 1: Recent Cases of Bid-Rigging - In December 2024, a case in Anhui involved suspects colluding to win a cultural cemetery design project, resulting in illegal gains of 132 million yuan [2]. - A case in Jiangxi revealed that suspects manipulated the bidding process for a school nutrition program, leading to a winning bid of approximately 120 million yuan and illicit profits of over 8 million yuan [3]. - In Jiangsu, suspects engaged in collusion for a high-standard farmland construction project, resulting in two successful bids totaling over 34 million yuan [4]. - A case in Hunan involved a gang that manipulated bids across 191 projects in various sectors, with a total project value exceeding 3 billion yuan [5]. - In Xinjiang, suspects were found guilty of colluding in 12 medical equipment procurement bids, with a total amount involved exceeding 38 million yuan [6]. Group 2: Government Actions and Impact - The Ministry of Public Security is collaborating with various agencies to enforce stricter regulations and punishments for bid-rigging, aiming to foster a healthier bidding environment [1]. - The crackdown on bid-rigging is expected to deter future illegal activities and promote fair competition in the bidding market [1].

证券代码：300021 证券简称：大禹节水 公告编号：2025-085 债券代码：123063 债券简称：大禹转债 大禹节水集团股份有限公司 本公司及其董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 大禹节水集团股份有限公司（以下简称"公司"）第七届董事会第三次（临 时）会议，于 2025 年 6 月 9 日上午 9：00 在公司会议室以现场和通讯会议相结 合的方式召开，会议通知于 2025 年 6 月 4 日以邮件、传真或专人送达的方式送 达。应参加表决的董事 9 人，实际参与表决的董事 9 人。会议符合《中华人民共 和国公司法》（以下简称"《公司法》"）等有关法律、行政法规、部门规章、 规范性文件及《公司章程》和公司《董事会议事规则》的规定，会议合法、有效。 与会董事经认真审议，形成如下决议： 一、 审议通过《关于使用部分闲置募集资金暂时补充流动资金的议案》 董事会同意公司在不影响募投项目建设资金需求和募投项目正常进行的前 提下，使用部分闲置募集资金不超过 8,000 万元暂时补充流动资金，使用期限自 董事会审议通过之日起不超过 12 个月，到期后将归还至募集资金 ...

证券代码：300021 证券简称：大禹节水 公告编号：2025－087 债券代码：123063 债券简称：大禹转债 大禹节水集团股份有限公司 本公司及其董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 大禹节水集团股份有限公司（以下简称"大禹节水"或"公司"）于 2025 年 闲置自有资金购买理财产品的议案》，同意在确保不影响公司生产经营和业务发 展需要，并有效控制风险的前提下，公司拟使用不超过 30,000 万元闲置的自有 资金购买理财产品，使用期限自董事会审议通过之日起 12 个月内。在上述额度 及期限内，资金可循环滚动使用。具体情况如下： 一、 本次使用闲置自有资金进行现金管理的基本情况 （一）投资目的 在控制风险和不影响公司主营业务正常开展的前提下，公司通过对闲置自有 资金购买理财产品，可以提高自有资金使用效率，获得一定的投资收益，为公司 股东谋取更多的投资回报，不会影响公司主营业务发展，也不存在损害股东利益 的情形，符合公司和全体股东的利益。 （二）投资额度 公司拟使用不超过 30,000 万元闲置自有资金购买理财产品，在上述额度内， 可循环滚动使用。 （三）投资期 ...

证券研究报告 唐志玮 tangzhiwei@huayuanstock.com 林高凡 lingaofan@huayuanstock.com 建筑装饰 行业定期报告 hyzqdatemark 2025 年 06 月 09 日 证券分析师 王彬鹏 SAC：S1350524090001 wangbinpeng@huayuanstock.com 戴铭余 SAC：S1350524060003 daimingyu@huayuanstock.com 郦悦轩 SAC：S1350524080001 liyuexuan@huayuanstock.com 三峡水运新航道开启招标，再次验证水利景气度 投资评级： 看好（维持） ——建筑装饰行业周报（20250602-20250608） 投资要点： 本周观点： 联系人 三峡水运新通道项目正式启动勘察设计招标，标志着工程建设即将进入实质性推进阶段。项 目总投资约 766 亿元，由中国三峡建工负责实施，位于湖北宜昌，建设周期约 100 个月（不 含筹建期 12 个月），整体由三峡枢纽新通道工程与葛洲坝航运扩能工程两部分组成。其中， 1）新通道工程拟建于现有三峡船闸北侧，采用双线五级船闸方案 ...

一、开启搜渠模式 一般印象中，用地图描绘一片年均降水量不足50毫米的内陆干旱区域，代表荒漠的焦黄似应是其理所当然的主色调。2009年1月笔者在清华大学水 利系观看《甘肃省疏勒河流域灌区图》的经历颠覆了这样的刻板认识：两米多长、一米多宽的巨大图幅中，密如蛛网的渠系、星罗棋布的水库塘 坝以巨大的压迫感扑面而来，蓝色的线条与色块牢牢占据画面中心，这片河西走廊西端的广袤大地在此完全变成陌生的样子。图中贯穿左右的最 醒目连续线条不再是标记兰新铁路、连霍高速公路或312国道等交通线，疏勒河水系渠线构成的坐标体系定义了一种前所未见的空间关系。文献 中"华戎所交一都会"的敦煌在此具象为由党河灌区大小渠网编织成的绿洲，诗篇中被反复吟唱的阳关则是库姆塔格沙漠边缘一块被渠道与水塘簇 拥的高地。甚至图中的等级秩序也自成一体，依据区划中心级别而被赋予不同符号字号的大小城镇显然居于次要地位，位于总干渠与河流的交汇 处而被醒目标记的水利枢纽、以逐渐细微的字体依次标注出的各级分水闸门才是绝对主角，它们以陌生的名字与远离聚落的姿态与熟悉的河西走 廊保持着距离。 自此而后，历代"以渠为纲"的灌区地图引发了笔者的浓厚兴趣。凝视代表各种天然或人工水 ...

省交口抽渭灌区渠首枢纽改造工程进水闸试运行（6月5日摄）。本报通讯员 李林轩摄 西延高铁建成通车后，将大幅提升陕西高铁网的整体效能，实现西安至延安1小时快速直达，对促进关 中平原城市群与陕北地区协同发展、带动革命老区振兴发展具有重要意义。（通讯员 陈瑞康 赵安） 省交口抽渭灌区渠首枢纽改造工程进水闸试运行 西延高铁西安枢纽工程全线开始铺轨 6月5日，由中国铁路西安局集团有限公司第二工程指挥部管理、中铁一局承建的西延高铁西安枢纽工程 实现重大节点突破：原定6月8日实现的首列长轨运输任务提前3天完成，500米长轨安全运抵工程线后，6月5 日立即启动铺轨作业。 西延高铁西安枢纽工程位于西安市，全线52公里。中铁一局负责正线长轨铺设49.22公里，站线长轨铺设 2.8公里，道岔铺设18组，道砟铺设14.05万立方米。 面对枢纽路径复杂、安全风险高的严峻挑战，项目部团队创新采用"三机联挂+分段牵引"编组方案，攻 克茂陵至西安北运输问题，提前完成上下行线各1.5公里的新线预铺，确保长轨"到站即铺"。同时联动10余家 单位实施动态防护，利用"天窗点"高效施工。 中国铁路西安局集团有限公司第二工程指挥部副指挥长刘伟表示："此 ...

Group 1 - The core objective of Ningbo's water conservancy department is to enhance river and lake management efficiency by implementing a comprehensive monitoring and evaluation system, aiming for safe, livable, and happy water bodies [1] - The "AI River Chief" system has been developed to improve the efficiency of river inspections, reducing response time from hours to minutes, and utilizing advanced technologies such as AI, Beidou, and drones [1] - A digital health evaluation system for rivers and lakes has been established, incorporating 14 indicators, 49 database tables, and over 15,000 data entries to support precise governance [1] Group 2 - The integration with the "Zhejiang Beautiful (River Chief Online)" platform has created a closed-loop process for problem identification and resolution, enhancing the efficiency of water issue management [2] - A total of 10,137 water-related issues have been identified, with 10,041 successfully resolved, showcasing the effectiveness of the new management approach [2]

青海引大济湟北干渠二期和西干渠工程通过竣工验收 智通财经6月7日电，据青海省水利厅消息，青海省引大济湟北干渠二期和西干渠工程已通过竣工验收， 标志着这两项工程全部建成并投入运行。 ...

Core Viewpoint - Dayu Water-saving Group plans to acquire 70% stake in Huai'an Design Institute from Beikong Water Development, aiming to enhance its core competitiveness in water conservancy design and expand its market presence [1][3]. Group 1: Acquisition Details - The acquisition will significantly strengthen the company's capabilities in water conservancy design, leading to an upgrade in qualifications, talent reserves, and market expansion [1]. - Huai'an Design Institute is a well-established entity in China's water conservancy design sector, holding five national first-class qualifications and multiple second-class qualifications in various engineering fields [1][2]. Group 2: Financial Performance - Huai'an Design Institute reported revenues of 999.2 million yuan in 2024 and 183 million yuan in the first four months of the year, with net profits of 65.05 million yuan and 8.36 million yuan respectively [2]. - As of April 2024, the total assets of Huai'an Design Institute stood at 1.061 billion yuan, with net assets of 420 million yuan [2]. Group 3: Strategic Importance - The acquisition aligns with Dayu Water-saving's strategy to enhance its comprehensive strength in the water conservancy sector and support major projects in irrigation and water resource management [2][4]. - The move is part of a broader strategy to improve the company's full industry chain layout, which is crucial for increasing competitiveness and optimizing profit margins [4][5]. Group 4: Market Context - The transfer of Huai'an Design Institute's stake indicates Beikong Water Development's intention to divest non-core assets, presenting an opportunity for Dayu Water-saving to acquire valuable resources [3]. - Successful acquisition would not only provide high-quality assets but also leverage state-owned capital mixed reform policies to enhance resource integration capabilities in the water conservancy field [3][5]. Group 5: Future Outlook - Dayu Water-saving's robust financial performance, with a revenue increase of 26.83% to 4.379 billion yuan in 2024 and a net profit growth of 61.81% to 811.28 million yuan, supports its acquisition strategy [5]. - The company plans to explore high-tech fields such as agricultural drones and smart irrigation equipment, while also considering strategic investors to optimize its capital structure [5].

Group 1 - The Ministry of Finance, in collaboration with the Ministry of Water Resources, has allocated 580 million yuan for disaster relief in water conservancy, supporting 29 provinces including Henan and Hubei, as well as the Xinjiang Production and Construction Corps [1] - The funding aims to expedite the inspection of potential hazards in water conservancy infrastructure such as rivers, lakes, embankments, reservoirs, and important sea dikes, which are critical for flood safety [1] - The initiative focuses on repairing water conservancy projects damaged by disasters and ensuring preparedness for the main flood season [1]