2025年9月24日，宏润建设集团股份有限公司在宏润大厦召开现场会议，接受了华泰证券研究所、泉果 基金管理有限公司两家机构的特定对象调研。宏润建设财务总监黄全跃、董事会秘书薛锋参与接待，就 公司业务近况、发展规划等多个方面与机构进行了深入交流。 业务近况与利润水平 宏润建设城市基建业务主要集中在长三角区域，凭借装备、技术积累和良好口碑，订单持续获取，营收 规模稳定。公司注重基建业务回款稳定性带来的正现金流，而非追求高毛利率。房产业务处于存量去化 阶段，利润受项目土地增值税清算影响，今年上半年净利润较2024年有所下降。 "建筑 + 新能源 + 科技"战略布局 宏润建设发展战略规划为"建筑 + 新能源 + 科技"。在科技业务布局方面，公司作为浙江民营企业，有 着深厚实业情怀，积极践行新质生产力发展。机器人行业处于量产前期投入阶段，合作方需要资金、应 用场景和生产落地能力。宏润建设不仅拥有盾构换刀机器人联合研发经验和技术储备，还具备工程应用 场景和产业基地资源，与合作方契合度较高。 定增优化资产结构 2022年涉房企业融资政策放开，宏润建设抓住机遇筹划定增，在货币资金充足情况下，于去年成功向特 定对象发行5亿元。 ...

证券代码：002062 证券简称：宏润建设 5、公司发展战略规划为"建筑+新能源+科技"，请介绍 科技业务的布局和发展情况。 公司作为浙江民营企业，有着深厚的实业情怀，同时积极 践行新质生产力发展，助力企业产业转型升级。机器人行业作 为新质生产力的代表正处于量产前期投入阶段，合作方需要资 金、应用场景和生产落地能力。作为高新技术上市企业，公司 不仅拥有盾构换刀机器人联合研发经验和技术储备，更有工程 应用场景和产业基地资源，合作契合度较高。 6、公司去年出于哪些考量在货币资金充足的情况下定增 5 亿元？ 公司经营管理扎实，重视现金流管控。2022 年随着涉房企 业融资政策的放开，公司抓住机遇筹划定增事宜，成功完成向 特定对象发行 5 亿元。公司借助本次定增完成资本市场亮相， 打通融资路径，优化资产结构。 宏润建设集团股份有限公司投资者关系活动记录表 编号：2025-04 | 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 ...

Core Viewpoint - China State Construction Engineering Corporation's Second Engineering Bureau (CSCEC II) is experiencing order growth in the shield tunneling machine sector despite a saturated domestic infrastructure market, primarily due to its focus on remanufacturing idle shield machines and technological innovation [1][2]. Group 1: Market Context - The construction market in China is transitioning from an incremental to a stock-based era, leading to a decrease in demand for new shield machines, with over 4,000 machines already in operation and an annual demand of about 700 new machines [2]. - There are over 1,500 idle or outdated shield machines in China that could be upgraded and reused, presenting a significant opportunity for remanufacturing [2][3]. Group 2: Technological Innovation - CSCEC II has implemented advanced engineering redesign and remanufacturing technologies to revitalize old or inefficient shield machines, effectively completing over 20 remanufacturing projects within three years [5]. - The remanufacturing process includes significant technical upgrades, such as converting control systems and enhancing automation, exemplified by the introduction of an industrial-grade shield cutter change robot that improves efficiency and reduces labor dependency [6][7]. Group 3: Operational Efficiency - The shield base in Changzhou, Jiangsu, is designed to handle 8-10 remanufacturing and maintenance tasks simultaneously, optimizing resource utilization and cost control [2][3]. - The strategic location of the base allows for reduced transportation costs, facilitating operations across a 200-kilometer radius, which includes major cities like Nanjing and Ningbo [3]. Group 4: Customization and Adaptability - The remanufacturing capabilities of CSCEC II allow for significant customization of shield machines, enabling modifications within a one-meter range to meet specific geological requirements [4]. - The company has successfully upgraded a large shield machine, increasing its diameter by 0.85 meters while reusing many original components, demonstrating a commitment to sustainability and cost-effectiveness [5]. Group 5: Future Prospects - CSCEC II is collaborating with Shanghai University to establish a research base focused on shield tunneling technology, aiming to integrate smart technologies and expand applications into mining, energy, and water conservancy sectors [7].