8月27日，中钢国际盘中下跌2.07%，截至14:19，报6.61元/股，成交1.97亿元，换手率2.05%，总市值 94.83亿元。 分红方面，中钢国际A股上市后累计派现23.61亿元。近三年，累计派现12.58亿元。 机构持仓方面，截止2025年6月30日，中钢国际十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股2115.35万股，相比上期增加1115.09万股。南方中证1000ETF（512100）位居第五大流通 股东，持股791.68万股，相比上期增加145.74万股。易方达新兴成长混合（000404）、工银物流产业股 票A（001718）、易方达科瑞混合（003293）退出十大流通股东之列。 责任编辑：小浪快报 中钢国际所属申万行业为：建筑装饰-专业工程-国际工程。所属概念板块包括：超超临界发电、节能环 保、东北振兴、一带一路、央企改革等。 资金流向方面，主力资金净流出729.56万元，特大单买入1130.17万元，占比5.74%，卖出1871.51万元， 占比9.51%；大单买入4619.51万元，占比23.48%，卖出4607.73万元，占比23.42%。 截至6月30日，中钢国际 ...

Industry Investment Rating - The investment rating for the construction materials industry is "Outperform the Market" and is maintained [1]. Core Insights - The report highlights the potential benefits from the reconstruction of Ukraine, with an estimated total cost of approximately $524 billion, which is nearly three times Ukraine's GDP for 2024. Key areas of investment include housing ($84 billion), transportation ($78 billion), energy ($68 billion), industrial and commercial sectors ($64 billion), and agriculture ($55 billion) [3]. - The report emphasizes the competitive advantages of domestic international engineering companies in Ukraine's post-war reconstruction, despite the U.S. leading the efforts. Companies such as China Communications Construction Company, China Chemical Engineering, China National Materials, and China Steel International are noted as potential beneficiaries [4]. - In the cement sector, a policy to limit overproduction is expected to enhance capacity utilization, with a forecasted recovery in demand and price increases starting in August [4]. - The glass industry is facing a downward trend in demand due to real estate impacts, with supply-demand imbalances persisting. However, the report anticipates that environmental regulations will accelerate the industry's cold repair processes [4]. - The fiberglass sector is experiencing growth driven by demand from the AI industry, with expectations for a significant increase in both volume and price [5]. - The consumer building materials sector is projected to see a recovery in profitability, with price increases across various categories such as waterproofing, coatings, and gypsum boards [5]. Summary by Sections Cement - The national cement market price is stabilizing, but demand remains low due to seasonal factors, with July's production down 5.6% year-on-year to 146 million tons [9]. Glass - Glass prices continue to decline, with regional prices dropping by 1-4% per weight box. The report predicts ongoing price fluctuations due to limited demand improvement [14]. Company Announcements - Three companies reported their mid-year results: - **Sanhe Building Materials**: Revenue of 5.816 billion yuan, up 0.97% year-on-year, with net profit increasing by 107.53% [17]. - **Puyang Refractories**: Revenue of 2.79 billion yuan, up 3.6% year-on-year, but net profit down 48.3% [18]. - **Tianan New Materials**: Revenue of 1.444 billion yuan, up 3.97% year-on-year, with net profit increasing by 16.59% [17].

Core Viewpoint - China Chemical's Tianchen Company has successfully registered its "Petrochemical Engineering Pipeline Component Coding Rule Management Data" for data intellectual property rights, marking its first achievement in this field [1] Group 1: Data Intellectual Property - Data intellectual property refers to exclusive rights over innovative and valuable data results generated, collected, stored, processed, used, and disseminated [1] - Tianchen Company has accumulated a significant amount of data resources over its 70 years of development as an international engineering company [1] Group 2: Digitalization and Standardization - The successful registration of data intellectual property is a crucial step for Tianchen Company towards digitalization and standardization [1] - The company plans to leverage this achievement to systematically organize and activate its data resources [1] Group 3: Strategic Development - Tianchen Company aims to enhance the value of its intellectual property and convert it into assets, thereby injecting strong momentum into its high-quality development [1] - The company will continue to promote data intellectual property registration as part of its "one core, multiple diversification" development strategy [1]

Investment Rating - The industry investment rating is "Overweight" [2][24]. Core Viewpoints - The construction and decoration sector has shown a weekly increase of 1.75%, outperforming the Shenzhen Component Index and the Small and Medium Enterprises Board [3][4]. - The establishment of the Xinjiang Tibet Railway Co., Ltd. with a registered capital of 95 billion RMB is expected to accelerate investment in the central and western regions [11][12]. - The Ministry of Housing and Urban-Rural Development has indicated a shift in the real estate sector towards a new development model focused on high-quality urban renewal [11][12]. Industry Performance - The construction sector's weekly performance was +1.75%, with the international engineering sub-sector leading at +3.77% [4][5]. - The top three sub-sectors for weekly growth were international engineering (+3.77%), professional engineering (+3.40%), and decorative curtain walls (+3.35%) [5][9]. - Year-to-date, the ecological landscaping sub-sector has seen the highest growth at +28.69% [5][9]. Key Company Developments - Tengda Construction won a bid for a new primary school project in Taizhou, Zhejiang, valued at 118 million RMB, representing 3.17% of its 2024 revenue [13][15]. - Chengdi Xiangjiang signed a contract for the "Hutai Smart Cloud Valley Digital Technology Industry Park Data Center" project, totaling 4.527 billion RMB, which is 279.27% of its 2024 revenue [13][15]. - The company Shenghui Integrated reported a 39.04% increase in H1 revenue to 1.295 billion RMB [15].

Group 1: Event Overview - The Fourth China-Africa Economic and Trade Expo was held from June 12 to 15 in Changsha, Hunan, with over 40 African countries and international organizations participating [1] - The theme of the expo was "China-Africa Common Action, Dreaming of Modernization," showcasing innovative achievements in engineering, manufacturing, and solar energy from Jiangsu enterprises [1] Group 2: Jiangsu's Economic Cooperation with Africa - Jiangsu's trade with Africa has been increasing, with Jiangsu enterprises aiming to enhance communication, cooperation, and sign agreements during the expo [1] - Jiangsu enterprises have invested a total of $1.06 billion in the Eastern Industrial Park in Ethiopia and the New Yangga Agricultural and Industrial Park in Tanzania, creating 14,400 jobs and contributing $260 million in taxes to host countries [2] Group 3: Key Projects and Developments - China Chemical Engineering's largest LNG storage tank project in Nigeria is progressing well, expected to complete its topping-out operation by November [2] - The Adwa Victory Memorial in Addis Ababa, built by Jiangsu's Zhongjiang International Group, has become a popular site for large events and public visits since its completion last year [3] Group 4: Industry Expansion and Collaboration - Jiangsu Suhao Foreign Economic and Trade Industry Co., Ltd. is establishing a local factory in Nigeria to enhance its supply chain and has developed its own brand, SKYRUN [4] - The OMVG power transmission project, crucial for electricity interconnection in West Africa, is being managed by Sumida, overcoming significant environmental and logistical challenges [5] Group 5: Trade and Investment Statistics - In 2024, Jiangsu's total import and export trade with Africa reached $27.05 billion, a year-on-year increase of 20.9% [7] - Jiangsu enterprises have completed 569 investment projects in Africa, with a total investment amount of $6.13 billion [7] Group 6: Future Prospects - Long光 Communication Technology Co., Ltd. plans to expand its sales network in Africa, aiming for a $200 million export value in 2024 [7] - Wuxi Jing'en Fan Co., Ltd. is targeting the African market with its energy-efficient ventilation equipment, seeking to contribute to local development while expanding its growth [8]

2025年6月8日，高登在线课堂"新国际形势下的海外工程人才实战特训营"第六讲——"国际工程项目HSE属地精细化管理实操案例分享"成功举办。本次课 程由国际注册高级项目管理师刘老师主讲，吸引了来自国内外工程企业的众多学员在线参与。课程围绕国际工程HSE属地管理的核心难点，结合日本、巴 西等典型案例，系统解析了HSE组织架构设计、执行标准落地及文化差异应对策略，为学员提供了可复制的属地化管理解决方案。 一、资深专家领衔， 剖析HSE属地管理核心逻辑 刘老师拥有27年工程管理经验，曾深度参与17个海外EPC项目，擅长从文化差异与制度冲突中提炼HSE管理方法论。课程以"体系融合、细节致胜、文化 适配"为主线，结合自身在海外市场的实战经历，揭示了国际工程HSE管理的底层逻辑。 （一）国际工程HSE管理典型问题解析 1.标准认知误区：力拓集团项目因未遵循当地法规，仅因劳工手指擦伤停工半月，暴露出中企对属地安全标准的认知盲区。 2.细节管理体系： 车辆安全检查：涵盖后视镜、刹车灯等20项细节，每日由属地安全员签字确认，避免"重制度、轻执行"。 2.组织架构陷阱：某EPC项目招聘20名中方安全人员，因管理架构"中式化"导致 ...

Core Viewpoint - The article highlights the increasing interest of Chinese companies in Guyana, driven by the country's rapid economic growth due to oil discoveries and the potential for infrastructure development and resource extraction opportunities [2][4][19]. Group 1: Guyana's Economic Landscape - Guyana has become one of the fastest-growing economies globally, with a projected GDP growth rate of 43.6% in 2024, largely due to its oil sector [4]. - The country has over 10 billion barrels of proven oil reserves, attracting significant foreign investment, particularly from Chinese enterprises [4][6]. - The presence of over 30 Chinese companies in various sectors, including engineering, mining, and oil and gas, indicates a robust interest in the region [3][19]. Group 2: Chinese Companies' Engagement - Companies like China National Offshore Oil Corporation (CNOOC) and Zijin Mining are actively expanding their operations in Guyana, with CNOOC mentioning "Guyana" 19 times in its 2024 annual report [6][4]. - The construction of hospitals and infrastructure projects by companies like China Communications Construction Company (CCCC) is aimed at improving local healthcare and services [10][20]. - The engagement of Chinese firms is seen as a way to enhance local capabilities and contribute to the development of Guyana's economy [19][30]. Group 3: Infrastructure and Resource Development - The article discusses various projects, including the construction of a hospital group by CCCC, which aims to elevate local healthcare standards significantly [20][22]. - The mining sector is also highlighted, with Zijin Mining expanding its operations in Guyana, focusing on gold production [7][9]. - The logistics and transportation sectors are adapting to the increased demand for oil transportation, with companies like COSCO Shipping expanding their fleet to meet new challenges [8][6]. Group 4: Challenges and Opportunities - Despite the opportunities, challenges such as local competition, infrastructure deficits, and the need for skilled labor remain significant hurdles for Chinese companies [3][18]. - The article emphasizes the importance of establishing long-term relationships and adapting to local conditions to ensure sustainable success in Guyana [19][30]. - The potential for creating a "bridgehead" for further expansion into South America is noted, with Guyana's unique position as an English-speaking country enhancing its attractiveness for Chinese investments [14][19].

1. Report Industry Investment Rating - Most of the covered companies have investment ratings such as "Buy" and "Add", including China National Building Material Co., Ltd., China National Steel & Machinery Corporation, etc. [21][24] 2. Core Viewpoints - Suggest paying attention to investment opportunities related to the Belt and Road Initiative, including four major international engineering companies and companies like Shanghai Harbor and Keda Manufacturing. [3][18] - Although the real - estate market is on the path of stabilizing after a series of policies since the December 2024 Politburo meeting, it still needs to be consolidated in April, and continuous policy support is expected. [3] - Currently, it is recommended to focus on companies such as Honglu Steel Structure, China Jushi, etc., due to factors like improved foreign trade environment, expected increase in downstream demand, and product price increases. [3] 3. Summary by Directory 3.1 Week - Special Topic: Focus on Belt and Road - Related Investment Opportunities - The Belt and Road Initiative aims to achieve infrastructure connectivity and sustainable development among countries along the routes. After more than a decade of construction, the infrastructure connectivity among countries along the routes has taken shape, with significant growth in railway transportation and an increase in the proportion of trade with BRI countries in China's total foreign trade. [3][5][8] - Investment opportunities related to the Belt and Road Initiative are suggested, including four major international engineering companies (Northern International, Sinomach, Sinoma International, and Sino - steel International) and companies like Shanghai Harbor and Keda Manufacturing. [3][18] 3.2 Profit Forecasts and Valuations of Main Covered Companies - The report provides profit forecasts and valuations for multiple companies from 2024 to 2027, including EPS, PE, PB, etc., and gives investment ratings such as "Buy" and "Add". [21][24] 3.3 Weekly Market Review - In the weekly market, the building and building materials industries showed different degrees of decline. Among them, the building index and building materials index both decreased, and different sub - sectors also had varying performance. [28][30][32] - Infrastructure public REITs also had different price fluctuations, with an average weekly increase of 1.73%, a monthly increase of 4.23%, and significant increases in the year - to - date and since IPO. [36][37] 3.4 Aggregate Data Tracking - In the real - estate market, data on new construction, construction, completion, and sales areas showed different trends. In addition, data on land transactions, real - estate transactions, social financing, and infrastructure investment are also provided. [39][48][58] - The new - signed contract data of eight major construction central enterprises from 2022Q1 to 2025Q1 are presented, showing different growth rates in different quarters. [87] 3.5 High - Frequency Data Tracking - High - frequency data on various building materials such as cement, glass, photovoltaic glass, fiberglass, carbon fiber, and magnesium sand are provided, including price, production, inventory, etc. [99][102][110] - Data on upstream raw material prices and physical workloads are also included, such as waste paper, PVC, HDPE prices, and high - altitude machine rental rates, excavator working hours, etc. [148][156]

Group 1 - The 16th International Infrastructure Investment and Construction Summit Forum will be held in Macau from June 10 to 12, with a concurrent 11th China-Latin America and Caribbean Infrastructure Cooperation Forum organized by the Ministry of Commerce [1] - The forum will focus on the theme "Better Connectivity, More Win-Win Cooperation," featuring over 50 specialized activities and inviting more than 220 industry elites to discuss the latest applications and practices of green, digital, and intelligent technologies in infrastructure connectivity [2] - More than 3,500 guests from 67 countries and regions have registered for the forum, including over 60 ministerial-level guests and executives from more than 20 financial institutions [3] Group 2 - The forum will highlight elements related to Macau, showcasing the construction of the China-Portuguese-speaking Countries Trade and Economic Service Platform and the Guangdong-Hong Kong-Macau Greater Bay Area [4] - The event will continue to release the "Belt and Road" Infrastructure Development Index (2025) and the report on Infrastructure Development Index of Portuguese-speaking Countries, providing data reference and support for expanding and deepening infrastructure cooperation along the Belt and Road [3]

中国经济网北京5月8日讯（记者彭金美）第16届国际基础设施投资与建设高峰论坛暨展览（简称第16届国 际基建论坛）组委会今日在北京召开新闻发布会，宣布16届国际基建论坛将于6月10日至12日在澳门举办， 由商务部主办的第11届中国-拉美和加勒比国家基础设施合作论坛（简称中拉基础设施合作论坛）同期举 行。 第16届国际基建论坛以"更好互联互通，更多合作共赢"为主题，将通过举办包括主旨演讲、主题论坛、平行 论坛、圆桌会议、项目推介、路演对接、成果发布、合作签约、新闻发布会等在内的50余场专题活动，并 邀请220余位业界精英，深入探讨绿色化、数字化、智能化技术在基础设施互联互通中的最新应用和实践， 为持续推进全球基础设施互联互通提质增效提供新的解决方案，促进国际基础设施合作新发展。 中国对外承包工程商会会长房秋晨在发布会上介绍，作为全球基础设施合作领域规格最高、规模最大、最 具影响力的年度行业盛会和"一带一路"重要合作平台，本届国际基建论坛将聚焦互联互通发展趋势，共绘全 球基建合作同心圆。目前已有来自67个国家和地区的3500余名嘉宾报名参会，其中包括60余位部长级嘉 宾、20余家金融机构高管、10余家国际组织官员、 ...