Group 1 - As of August 13, China Power Construction's stock price closed at 6.26 yuan, down 0.32% from the previous trading day [1] - The trading volume on that day reached 1.917 billion yuan, with a turnover rate of 2.34%, and the total market capitalization remained at 107.8 billion yuan [1] - The company’s main business includes hydropower engineering, electrical engineering, and infrastructure engineering [1] Group 2 - Recently, China Power Construction established a joint venture with Hubei Water Development Group to form an ecological environment construction engineering company, with a registered capital of 100 million yuan [1] - The new company will engage in river dredging and supervision of water conservancy engineering [1] - On August 13, the net outflow of main funds was 111 million yuan, with a cumulative net outflow of 626 million yuan over the past five trading days [1]

证券代码：002723 证券简称：小崧股份 公告编号：2025-069 广东小崧科技股份有限公司 关于 2025 年第二季度工程施工业务经营情况的公告 第二季度新中标订单 截至第二季度末累计已签约 未完工订单 截至第二季度末累计已中 标未签约订单 数量（个） 金额（万 元） 数量（个） 金额（万 元） 数量 （个） 金额（万 元） 7 16,007 52 26,968 - - 一、2025 年第二季度订单情况 广东小崧科技股份有限公司董事会 2025 年 7 月 29 日 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 广东小崧科技股份有限公司（以下简称公司或本公司）控股子公司国海建设 有限公司（以下简称国海建设）主营业务为市政公用工程、房屋建筑工程、公路 工程、水利水电工程、环保工程为主的工程施工，且国海建设营业收入占公司最 近一个会计年度经审计营业总收入 30%以上。根据《深圳证券交易所上市公司自 律监管指引第 3 号—行业信息披露》的相关规定，现将国海建设 2025 年第二季 度经营情况公告如下： 二、特别提示 1、上述数据仅为公司财务部门统计的阶段性数 ...

Core Viewpoint - The company, Chongqing Construction Engineering, focuses on construction projects including building engineering, municipal engineering, and highway engineering, while also expanding its operations into external markets such as Tibet [1] Group 1: Business Operations - The company's main business areas include construction engineering, municipal engineering, and highway engineering [1] - It has several subsidiaries that possess qualifications for various construction contracts, including hydropower, municipal public works, and demolition operations [1] Group 2: Market Expansion - In recent years, the company has actively expanded its market presence outside its home region [1] - Projects in Tibet involve both building engineering and infrastructure engineering [1]

Core Viewpoint - The company reported a stable revenue growth in Q1 2025, but faced a decline in net profit and gross margin, indicating potential challenges ahead in maintaining profitability and managing costs [1][2][3] Financial Performance - In Q1 2025, the company achieved operating revenue of 142.736 billion yuan, a year-on-year increase of 1.6%, while the net profit attributable to shareholders was 2.636 billion yuan, down 12.0% year-on-year [1] - The comprehensive gross margin for Q1 2025 was 10.8%, a decrease of 1.0 percentage points year-on-year, reflecting pressure on profitability [1] - The company maintained stable expense control, with selling, administrative, R&D, and financial expense ratios at 0.2%, 3.1%, 2.3%, and 1.6% respectively, showing minimal year-on-year changes [1] Cash Flow and Investment - The net cash flow from operating activities in Q1 2025 was -40.519 billion yuan, an increase in outflow by 1.516 billion yuan year-on-year, indicating a slight deterioration in cash flow management [2] - Cash outflow for the acquisition of fixed and intangible long-term assets was 10.856 billion yuan, down 5.848 billion yuan year-on-year, suggesting a slowdown in capital expenditure under strengthened investment control [2] - As of the end of Q1, the company had interest-bearing debt of 538.3 billion yuan, an increase of 59.9 billion yuan year-on-year, with a debt-to-asset ratio of 79.6%, up 1.4 percentage points year-on-year [2] Order Intake and Market Performance - New contract signing in Q1 2025 totaled 299.3 billion yuan, a year-on-year decrease of 9.6%, with notable declines in several business segments [3] - The energy and water resources sectors showed strong performance, with new contracts in hydropower and wind power increasing by 20.2% and 67.3% respectively [3] - Domestic new contracts decreased by 15.4%, while international contracts increased by 20.9%, indicating a shift towards more opportunities abroad [3] Profit Forecast and Investment Rating - The company is expected to benefit from increased domestic investment in water conservancy and hydropower infrastructure, as well as continued expansion in renewable energy operations [3] - Revised profit forecasts for 2025-2026 are 12.5 billion yuan and 13.2 billion yuan respectively, with a new forecast for 2027 at 14.2 billion yuan, reflecting a decrease from previous estimates [3] - The company maintains a "buy" rating based on the potential growth from its renewable energy investment and operational business [3]

广东小崧科技股份有限公司 关于 2025 年第一季度工程施工业务经营情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 广东小崧科技股份有限公司（以下简称公司或本公司）控股子公司国海建设 有限公司（以下简称国海建设）主营业务为市政公用工程、房屋建筑工程、公路 工程、水利水电工程、环保工程为主的工程施工，且国海建设营业收入占公司最 近一个会计年度经审计营业总收入 30%以上。根据《深圳证券交易所上市公司自 律监管指引第 3 号—行业信息披露》的相关规定，现将国海建设 2025 年第一季 度经营情况公告如下： 二、特别提示 1、上述数据仅为公司财务部门统计的阶段性数据，未经审计，与后续定期报 告披露的数据有可能存在差异，仅供投资者参考，最终以定期报告披露数据为准， 敬请注意投资风险。 证券代码：002723 证券简称：小崧股份 公告编号：2025-047 2、项目施工进展可能受天气或其他自然灾害影响，造成完成工期、质量要求 不能如约达成带来不能及时验收的风险，敬请注意投资风险。 特此公告。 第一季度新中标订单 截至第一季度末累计已签约 未完工订单 截至第一 ...