Core Viewpoint - Sichuan Road and Bridge Construction Group is accelerating the construction progress of multiple highway and railway projects in the province, with significant advancements expected in the completion of key projects by the end of the year [1] Group 1: Project Updates - The Xichang to Ningnan Expressway and the Zhenba to Guang'an Expressway are among the projects expected to be completed and opened to traffic within the year [1] - The Xining Expressway, which started construction in July 2023, has completed over 70% of its investment by the end of last year, with major construction works such as earthworks, bridges, and tunnels exceeding 80% completion [1] - The travel time from Xichang City to Ningnan County will be reduced from 2.5 hours to 1 hour upon the completion of the Xining Expressway, integrating with other expressways to form a comprehensive transportation hub [1] Group 2: Construction Efficiency - The construction team has optimized management processes and adopted intelligent equipment and technology, significantly enhancing construction efficiency [1] - In the construction of long tunnels, the project has implemented a "large machine matching" initiative, utilizing intelligent machinery that has doubled construction efficiency [1] - For the Chengyu Middle Line High-Speed Railway, the main works of the Jianyang to Lezhi section have been completed, transitioning to the ballastless track laying phase, with a 20% efficiency improvement and a 30% reduction in labor costs achieved through the use of intelligent tunnel excavation support machines [1] Group 3: Future Initiatives - In 2023, Sichuan Road and Bridge will continue to accelerate its digital and low-carbon transformation, promoting the application of intelligent systems and equipment such as "tunnel inspection robots" [2] - The company aims to establish 1 to 2 industry-leading benchmark achievements through these initiatives [2]

Group 1 - The company announced its major operating data for the fourth quarter of 2025, which includes infrastructure construction projects such as roads, railways, and municipal works [1] - The company currently has no signed but unexecuted major projects, indicating a focus on existing operations [2] - The operating indicators provided are preliminary statistics and may differ from those disclosed in regular reports due to various uncertainties [2] Group 2 - The company held its first extraordinary general meeting of 2026 on January 15, 2026, with no resolutions being rejected [5] - The meeting was conducted in compliance with relevant laws and regulations, with a combination of on-site and online voting [6] - Legal counsel confirmed that the procedures for convening and conducting the meeting were in accordance with legal and company regulations [7]

Group 1 - The company held its first extraordinary general meeting of shareholders on January 15, 2026, in Chengdu, with no resolutions being rejected [2][4] - The meeting was convened by the board of directors and chaired by Chairman Sun Licheng, utilizing both on-site and online voting methods, in compliance with relevant laws and regulations [2][3] - A total of 10 directors were in office, with 9 attending the meeting; independent director Zhou Yousu participated via telecommunication, while director Li Qian was absent due to other commitments [3] Group 2 - The meeting included the election of company directors as part of the cumulative voting agenda [4] - There were no significant matters requiring the voting of shareholders holding less than 5% of shares [4] - The legal proceedings of the meeting were witnessed by Beijing Kangda (Chengdu) Law Firm, confirming that all procedures and voting results complied with legal and regulatory standards [5] Group 3 - The company announced its major operating data for the fourth quarter of 2025, which is unaudited and includes various infrastructure projects [6][7] - The company currently has no signed but unexecuted major projects, indicating a focus on completed contracts [7]

Group 1 - The core point of the article is that Sichuan Road and Bridge announced the election of Mr. Zhang Jian as a director of the company's eighth board of directors during the first temporary shareholders' meeting of 2026 [2]

证券代码：600039 证券简称：四川路桥 公告编号：2026-002 四川路桥建设集团股份有限公司 2025 年第四季度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 四川路桥建设集团股份有限公司（以下简称公司）根据《上海证券交易所上 市公司行业信息披露指引第八号——建筑》的相关规定，现将 2025 年第四季度 主要经营数据（未经审计）公告如下： 二、已签订尚未执行的重大项目进展情况 公司目前无已签订尚未执行的重大项目。 1 | | | | 第四季度 | | 本年累计 | 上年同期累 | | 本年累 | 本年累计 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 分行 | 第四季 度中标 | 中标项目 | 本年累 计中标 | 中标项目 | 计中标项目 | 同比 | 计中标 已签合 | 中标已签 合同项目 | | 序号 | | | 金额 | | 合计金额 | 合计金额 | | | | | | 业 | 项目数 量（个） | （ ...

证券代码：600039 证券简称：四川路桥 公告编号：2026-003 四川路桥建设集团股份有限公司 2026年第一次临时股东会决议公告 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 159 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 7,295,372,085 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 83.8974 | (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 会议由公司董事会召集，董事长孙立成主持本次股东会。会议采取现场投票 及网络投票方式召开并表决，会议的召集和召开符合《公司法》《上市公司股东 会规则》及《公司章程》等有关规定。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2026 年 1 月 15 日 (二)股东会召开的地点：成都 ...

四川省成都市锦江区东御街 18 号百扬大厦 11 楼 邮编：610000 11F,Square One,No.18 Dongyu St. ,Jinjiang District,Chengdu,PRC 电话/TEL：（028）87747485 传真/FAX：（028）86512848 网址/WEBSITE：www.kangdacdlawyers.com/ 北京康达（成都）律师事务所 关于四川路桥建设集团股份有限公司 2026 年 第一次临时股东会的 法律意见书 康达（成都）股会字【2026】第 0002 号 致：四川路桥建设集团股份有限公司 北京康达（成都）律师事务所（以下简称"本所"）接受四川路桥建设集团股份 有限公司（以下简称"四川路桥"）的委托，指派龚星铭、李丹玮律师（以下简称"本 所律师"或者"经办律师"）列席了四川路桥在 2026 年 1 月 15 日召开的 2026 年第 一次临时股东会（以下简称"本次股东会"）。本所律师依据《中华人民共和国公司 法》《中华人民共和国证券法》《上市公司股东会规则》等法律法规以及《四川路桥 建设集团股份有限公司章程》（以下简称"《公司章程》"）的有关规定，并按照律 师 ...

Group 1 - The core point of the article is that Sichuan Road and Bridge has reported significant growth in its bidding projects for the fourth quarter of 2025, with a total of 116 infrastructure projects, 28 housing projects, and 92 other projects, amounting to a total bid value of 1,013.34 billion yuan, 46.59 billion yuan, and 2.95 billion yuan respectively [1] - The cumulative number of bidding projects for the year is 616, with a total bid amount of 2,034.61 billion yuan, representing a 47.15% increase compared to the same period last year, which was 1,382.66 billion yuan [1] - The bid amounts for the infrastructure and other sectors have increased by 59% and 145% year-on-year, while the housing sector has seen a decline of 14% [1] Group 2 - The company has signed contracts for a total of 533 projects this year, with a total contract value of 1,807.94 billion yuan [1] - Currently, the company has no major projects that have been signed but are yet to be executed [1]

Investment Rating - The report maintains an "Overweight" rating for the construction and engineering sector and the building materials sector [9] Core Insights - The construction activity indicators have shown significant improvement at the beginning of 2026, with increased operating rates for cement mills and concrete mixing stations, alongside a rise in building steel sales [12][20] - The commercial aerospace sector is expected to see a surge in demand for high-temperature materials and perovskite materials due to the acceleration of satellite launches [12][13] - The report suggests a balanced investment strategy between emerging industries and traditional sectors in Q1 2026, with a focus on companies like Jinggong Steel Structure, Sichuan Road and Bridge, and China Nuclear Engineering [12][10] Summary by Sections Construction and Engineering - The construction sector is benefiting from improved PMI indicators and government policies aimed at boosting domestic demand, with a focus on steel structures and fiberglass [12][13] - Key metrics include a national cement mill operating rate of 36.6%, up 6.6 percentage points month-on-month and 14.1 percentage points year-on-year [12] Building Materials - The report highlights a slight decrease in national cement prices by 0.1% to 358 CNY per ton, with a 38.7% shipment rate [20] - The average price of float glass is reported at 60 CNY per weight box, showing a week-on-week increase of 0.2% [21] Recommended Companies - The report recommends several companies for investment, including: - China National Materials (600970 CH) with a target price of 14.23 CNY and a "Buy" rating [10] - Sichuan Road and Bridge (600039 CH) with a target price of 13.48 CNY and a "Buy" rating [10] - Jinggong Steel Structure (600496 CH) with a target price of 5.75 CNY and a "Buy" rating [10] - Other recommended companies include China Glass (600176 CH), Oriental Yuhong (002271 CH), and Huaneng Renewables (600552 CH) [10][31]

2026 年第一次临时股东会 四川路桥建设集团股份有限公司 一、股东会期间，全体参会人员应以维护股东的合法权益、 确保会议的正常秩序和议事效率为原则，自觉履行法定义务。 四川路桥建设集团股份有限公司 2026 年第一次临时股东会 会议资料 2026 年 1 月 15 日 1 2026 年第一次临时股东会 四川路桥建设集团股份有限公司 四川路桥建设集团股份有限公司 股东会会议须知 各位股东及股东代表： 为维护投资者的合法权益，确保四川路桥建设集团股份有限 公司（以下简称公司）股东会的正常秩序和议事效率，根据《中 华人民共和国公司法》《上市公司股东会规则》等法律法规、规 范性文件和《四川路桥建设集团股份有限公司章程》《四川路桥 建设集团股份有限公司股东会议事规则》的规定，现就会议须知 通知如下，请参加本次会议的全体人员自觉遵守。 二、在会议主持人宣布现场出席会议的股东和代理人人数 及其所持有表决权的股份总数之前，会议登记终止。 三、为保证股东会的正常秩序，除出席会议的股东及股东代 理人，公司董事、高级管理人员、见证律师及公司董事会邀请的 人员以外，公司有权拒绝其他人员入场，对于干扰会议秩序、寻 衅滋事和侵犯股东合 ...