2025年度，公司实现中标额1040.41亿元。其中第四季度订单情况如下： ■ 注1数据为截至报告期末公司累计已签约但尚未完工订单合同总额中未完工部分的金额。 登录新浪财经APP 搜索【信披】查看更多考评等级 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。 山东高速路桥集团股份有限公司（以下简称"公司"、"本公司"）根据《深圳证券交易所上市公司自律监 管指引第3号一一行业信息披露》等规定，为方便投资者了解公司生产经营情况，现将2025年第四季度 主要经营情况披露如下： 一、2025年第四季度订单情况 注2该项合同金额为联合体承担的总金额，项目模式为入股施工一体化，根据《联合体协议书》,子公司 山东东方路桥建设有限公司承担本标段总工程量的96%,折合预期中标价约为2,585,182,494.59元，最终 承担的工程量及金额尚未最终确定。 上述重大项目合同对手方履约能力及结算回款情况正常，不存在重大风险。表中的收款金额含预收工程 款和预收材料款。公司将根据项目进展情况持续履行信息披露义务。 三、风险提示 上述数据为阶段统计数据，未经审计，可能与公司定期报告披露的相 ...

成都路桥（002628）(002628.SZ)公告，公司第四季度新中标及新签约订单金额294万元，截至第四季度 末累计已签约未完工订单金额38.96亿元。 ...

Group 1 - The company plans to repurchase and cancel 335,700 restricted stocks from 7 incentive targets who have not yet lifted their sales restrictions, which accounts for 0.03% of the total share capital before the repurchase [2][9] - After the repurchase, the total share capital will decrease from 1,014,031,746 shares to 1,013,696,046 shares [2][11] - The repurchase price is set at 1.325 yuan per share, funded entirely by the company's own funds, totaling approximately 444,802.5 yuan plus interest [3][11] Group 2 - The repurchase is due to 4 incentive targets leaving the company and 3 retiring, thus no longer qualifying for the incentive program [9][13] - The decision to adjust the repurchase price was made during the board meeting on December 9, 2025, following the completion of the company's 2024 annual profit distribution [42][53] - The adjusted repurchase price reflects a decrease from 1.365 yuan to 1.325 yuan per share due to the distribution of a cash dividend of 0.04 yuan per share [43][53] Group 3 - The company has fulfilled necessary decision-making procedures for the repurchase and cancellation of restricted stocks, complying with relevant laws and regulations [15][31] - The independent financial advisor confirmed that the repurchase does not harm the interests of the company and its shareholders [16][32] - The board of directors has approved the repurchase and will submit the matter for shareholder meeting approval [60][62]

Group 1 - The company did not participate in the construction of the West Mando iron ore project [1] - The company expressed gratitude for the investor's interest in the project [1]

Core Viewpoint - Shandong Road and Bridge has successfully won the bid for the G50 Huyu Expressway upgrade project, reinforcing its market position in Anhui and promoting regional business expansion [1] Group 1: Project Details - The G50 Huyu Expressway upgrade project is a key part of Anhui's highway network, specifically the "Hefei to Jiujiang" connection [1] - The section being upgraded is 15.361 kilometers long, with a contract value of 640 million yuan, and will be expanded to a dual eight-lane highway with a design speed of 120 km/h [1] Group 2: Business Strategy - The company adheres to a market preservation strategy focused on existing projects, leveraging their market potential to maintain a strong credit rating in Anhui for four consecutive years [1] - Since 2021, Shandong Road and Bridge has won multiple bids in Anhui, with a cumulative contract value exceeding 3.66 billion yuan [1]

Summary of Shandong Road and Bridge's Conference Call Company Overview - **Company**: Shandong Road and Bridge - **Industry**: Infrastructure and Construction Key Points 1. Business Performance and Outlook - The company reported good operational development in Q4 2025, with optimistic bidding results for external market projects and active internal highway projects, expecting stable growth in Q4 despite weather-related impacts on project progress in North China and northern regions [2][3][4] - The revenue and net profit targets for 2025 remain unchanged, with the final results dependent on the opening and revenue contributions in the last three months of the year [2][5] 2. Market Conditions and Strategic Focus - The infrastructure market in Shandong province is expected to maintain stable growth from the end of the 14th Five-Year Plan to the 15th Five-Year Plan, with increased funding and policy support anticipated in 2026 [2][6] - The company is actively expanding into the northwest, southwest, and Southeast Asian markets [2][6] 3. Overseas Market Performance - The overseas market orders performed excellently, reaching over 9 billion yuan in the first half of 2025, with expectations to reach around 10 billion yuan for the entire year [2][7][8] - The major shareholder's orders are expected to enter the bidding phase in the next two months, contributing to growth [8] 4. Dividend Strategy - The company plans to gradually increase the total dividend amount over the next few years, continuing a strategy of multiple dividends per year and annual increases to provide fixed expectations for investors [2][9] 5. Profit Margin Management - The company has implemented cost control measures through the "cost reduction and efficiency enhancement" initiative and the "two 1%" project, which focuses on strict cost management before and during project execution [3][10] - Profit margins vary significantly based on project content and location, but the company aims to continue improving overall profit margins [10] 6. Cash Flow Management - The goal for 2025 is to achieve positive operating cash flow, with measures in place to improve cash flow, including a lifetime responsibility system for project managers and shared collection targets for the leadership team [3][11] - The company has diverse financing channels and low costs, enabling it to support daily operations and expand market share [11] 7. Market Value Management - The Shandong Provincial State-owned Assets Supervision and Administration Commission is seeking opinions on market value management guidelines, which are expected to be published by the end of 2025 or early 2026 [12] - The management of market value will impact leadership compensation and employee salary assessments, emphasizing the importance of performance in this area [12] 8. Emerging Markets and New Opportunities - The company has made significant progress in overseas markets, achieving a 100% year-on-year growth, with a short-term goal of overseas revenue accounting for over 10% of total income [13][14] - The company is also exploring opportunities in urban renewal and municipal engineering, as well as in low-altitude economy sectors [14][16] 9. Participation in Low-Altitude Economy - Currently, the company has limited participation in the low-altitude economy in Shandong, but it recognizes the potential for future involvement, leveraging existing infrastructure [16] This summary encapsulates the key insights from the conference call, highlighting the company's performance, strategic direction, and market conditions.

Group 1 - The company Beixin Road and Bridge (SZ 002307) announced on October 22 that it has received a bid notification for the G687 Tiemenguan - Alar Highway (third contract section) construction project, in partnership with Tiemenguan Zhuoda Construction Engineering Co., Ltd. The bid amount is approximately RMB 398.72 million [1][1][1] - As of January to June 2025, the company's revenue composition is as follows: engineering revenue accounts for 91.35%, highway service industry for 5.8%, other industries for 1.47%, equipment leasing for 0.56%, and real estate sales for 0.5% [1][1][1] - The current market capitalization of Beixin Road and Bridge is RMB 7.1 billion [1][1][1]

Group 1 - The company is exploring potential collaboration opportunities in the New Tibet Railway project [1] - The company expressed gratitude for investor interest in its business activities [1]

Core Points - The company Shandong Road and Bridge announced that in the second quarter of 2025, it signed 413 new contracts with a total value of 26.901 billion yuan [1] - As of the end of the second quarter, the company had a total of 548 signed but uncompleted contracts, amounting to 108.268 billion yuan [1] - The company also reported 127 contracts that have been won but not yet signed, with a total value of 26.197 billion yuan [1]

Group 1 - The company Chengdu Road and Bridge (002628.SZ) announced that the new contracts and orders signed in the second quarter amounted to 26.4973 million yuan [1] - As of the end of the second quarter, the total amount of signed but uncompleted orders reached 4.221 billion yuan [1]