中证上海国企ETF（510810）成立日期2016年7月28日，最新规模67.47亿。今年以来收益2.77%，同类 排名4114/5549；近一年收益18.29%，同类排名3483/4285；成立以来收益8.23%。 中证上海国企ETF（510810）基金经理为吴振翔。 截至发稿，吴振翔累计任职时间15年361天，现任基金资产总规模185.98亿元，任职期间最佳基金回报 209.21%， 任职期间最差基金回报-31.53%。 1月28日，上海建工涨5.54%，截至发稿，报3.05元/股，成交5.72亿元，换手率2.20%，总市值271.02亿 元。 资料显示，上海建工集团股份有限公司位于上海市虹口区东大名路666号，成立日期1998年6月15日，上 市日期1998年6月23日，公司主营业务涉及以建筑和土木工程业务为基础,房地产开发业务和基础设施投 资经营业务为两翼,工程设计咨询业务和建筑材料业务为支撑。主营业务收入构成为：建筑、承包、设 计、施工89.37%，建筑工业5.84%，工程项目管理咨询与劳务派遣及其他业务2.63%，成套设备及其他 商品贸易0.72%，房地产开发业0.53%，城市基础设施投资建设0. ...

Market Overview - The housing construction sector declined by 1.36% compared to the previous trading day, with Shanghai Construction leading the decline [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] Stock Performance - Notable stock performances in the housing construction sector included: - Gaoxin Development (000628) rose by 3.65% with a closing price of 52.52 and a trading volume of 149,700 shares, totaling 777 million yuan [1] - Longyuan Construction (600491) increased by 0.34% to 66.7, with a trading volume of 222,600 shares, amounting to 66.76 million yuan [1] - Chongqing Construction (600939) fell by 0.62% to 3.19, with a trading volume of 139,900 shares, totaling 44.30 million yuan [1] - China State Construction (601668) decreased by 1.38% to 5.02, with a trading volume of 3,020,300 shares, amounting to 1.526 billion yuan [1] Capital Flow - The housing construction sector experienced a net outflow of 179 million yuan from institutional investors, while retail investors saw a net inflow of 18.27 million yuan [1] - Detailed capital flow for selected stocks showed: - Gaoxin Development had a net inflow of 84.11 million yuan from institutional investors, but a net outflow of 61.29 million yuan from retail investors [2] - Longyuan Construction saw a net inflow of 8.56 million yuan from institutional investors, with a net outflow of 4.07 million yuan from retail investors [2] - China State Construction experienced a net outflow of 141 million yuan from institutional investors, while retail investors had a net outflow of 26.73 million yuan [2]

1月26日，上海建工（SH600170，股价2.98元，市值265亿元）发布《2025年年度业绩预减公 告》，预计全年归属于母公司所有者的净利润为10亿元至12亿元，同比减少44.6%至53.9%。公司称， 受固定资产投资规模收缩、结构调整等因素影响，新签合同额及在建工程规模不及预期，产值转化效率 下降，导致营收与利润双下滑。 重大项目方面，公司全年中标5亿元以上项目66项，合计608.54亿元，其中10亿元以上项目18项， 合计263.80亿元，主要集中于上海东方枢纽、南北通道、金桥南区等城市核心工程。 行业整体承压，龙头企业分化加剧 华源证券研报显示，2025年建筑行业新签订单整体呈现"央企稳、地方分化、海外偏强、细分制造 相对稳健"的特征。建筑央企新签订单金额依旧保持高位，中国建筑、中国中铁、中国电建、中国能建 分别实现新签4.15万亿元、2.75万亿元、1.33万亿元和1.45万亿元，同比增速在1%~5%区间，整体表现 以稳为主。地方国企分化更为明显，上海建工、陕建股份、浦东建设新签合同金额同比分别下降35%、 25%、23%，反映区域工程需求与项目释放节奏仍承压。隧道股份新中标订单同比基本持平，而四 ...

● 上海建工集团股份有限公司（简称"公司"）预计2025年度实现归属于母公司所有者的净利润10亿元到 12亿元，与上年同期相比，将下降44.6%到53.9%。公司预计2025年度实现归属于母公司所有者的扣除 非经常性损益后的净利润0.4亿元到0.6亿元。 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： ● 本期业绩预告适用实现盈利，且净利润与上年同期相比下降50%以上的情形。 一、本期业绩预告情况 （一）业绩预告期间 2025年1月1日至2025年12月31日。 （二）业绩预告情况 经财务部门初步测算，预计2025年年度实现归属于母公司所有者的净利润10亿元到12亿元，与上年同期 21.68亿元相比，将减少9.68亿元到11.68亿元，同比减少44.6%到53.9%。 预计2025年年度实现归属于母公司所有者的扣除非经常性损益的净利润0.4亿元到0.6亿元，与上年同期 6.13亿元相比，将减少5.53亿元到5.73亿元，同比减少90.2%到93.5%。 二、上年同期经营业绩和财务状况 （一）利润总额：31.17 ...

证券日报网讯 1月26日，上海建工发布公告称，公司预计2025年度实现归属于母公司所有者的净利润10 亿元到12亿元，与上年同期21.68亿元相比，将减少9.68亿元到11.68亿元，同比减少44.6%到53.9%。 （文章来源：证券日报） ...

Core Viewpoint - Shanghai Construction Group (SH600170) expects a significant decline in net profit for 2025, projecting a decrease of 44.6% to 53.9% compared to the previous year, primarily due to reduced fixed asset investment and structural adjustments impacting new contract amounts and ongoing projects [1][2]. Financial Performance - The company anticipates a net profit attributable to shareholders of 1 billion to 1.2 billion yuan for 2025, down from 2.168 billion yuan in the previous year, representing a reduction of 9.68 billion to 11.68 billion yuan [1][2]. - The expected net profit excluding non-recurring gains and losses is projected to be 40 million to 60 million yuan, a decrease of 90.2% to 93.5% from 613 million yuan in the previous year [2]. Contract Performance - In 2025, Shanghai Construction Group and its subsidiaries signed new contracts totaling 252.942 billion yuan, a year-on-year decline of 34.98% [3]. - The construction business saw a significant drop in contract amounts, totaling 194.346 billion yuan, down 40.19% year-on-year [3]. - The real estate development contracts amounted to 11.006 billion yuan, showing a year-on-year increase of 17.96% [3]. - The "urban construction investment" sector experienced explosive growth, with new contracts reaching 1.309 billion yuan, a staggering increase of 1883.33% [3]. Industry Context - The overall construction industry in 2025 is characterized by stability among central enterprises, regional differentiation, strong overseas performance, and relative stability in niche manufacturing [3]. - Major state-owned enterprises like China State Construction, China Railway, and others maintained high levels of new contracts, while local state-owned enterprises like Shanghai Construction Group faced significant declines [3][4]. - The report indicates that regional engineering demand and project release schedules remain under pressure, contributing to the performance disparities among local enterprises [3].

Investment Rating - The investment rating for the construction and decoration industry is "Positive" (maintained) [4] Core Views - Infrastructure investment is experiencing a short-term bottoming out, with cumulative year-on-year growth turning negative for the first time since 2004. In 2025, narrow infrastructure (excluding electricity) completed 18.08 trillion yuan, down 2.20% year-on-year, while broad infrastructure totaled 24.50 trillion yuan, down 1.48% year-on-year. December saw significant declines, with narrow and broad infrastructure down 12.22% and 15.95% year-on-year, respectively. Despite this, major strategic projects are expected to continue, and infrastructure investment is anticipated to stabilize and recover gradually [5][12][22]. Summary by Sections Infrastructure Investment - In 2025, narrow infrastructure investment completed 18.08 trillion yuan, down 2.20% year-on-year, while broad infrastructure totaled 24.50 trillion yuan, down 1.48% year-on-year. December saw a year-on-year decline of 12.22% for narrow infrastructure and 15.95% for broad infrastructure, with significant drops in water conservancy and public facilities management [5][12]. New Orders - New orders in 2025 showed a pattern of stability among central enterprises, with China State Construction, China Railway, China Electric Power, and China Energy achieving new orders of 4.15 trillion yuan, 2.75 trillion yuan, 1.33 trillion yuan, and 1.45 trillion yuan, respectively. Local state-owned enterprises exhibited more significant differentiation, with Shanghai Construction, Shaanxi Construction, and Pudong Construction seeing declines of 35%, 25%, and 23% year-on-year, while Sichuan Road and Bridge saw a substantial increase of 47% year-on-year [6][17]. Market Performance - The construction and decoration index rose by 1.88% during the week, with chemical engineering, steel structure, and international engineering leading the gains at 10.70%, 7.71%, and 4.49%, respectively. A total of 123 stocks in the construction sector rose, with the top five performers being Huawi Design (+51.92%), Zhite New Materials (+49.21%), and others [8][28]. Company Dynamics - Several companies reported significant changes in their financial performance for 2025. For instance, China Metallurgical Group expects a net profit decline of 76.28% to 80.73% due to ongoing losses in the real estate sector and substantial asset impairment provisions. In contrast, companies like Xinjiang Jiaojian anticipate a net profit increase of 50.14% to 125.22% [24][25].

2025年，受固定资产投资规模、结构调整等因素影响，公司新签合同额及在建工程规模不及预期，合同 实施节奏放缓，产值转化效率下降，导致营业收入、利润总额同比下滑。因房地产市场深度调整，公司 房地产开发、运营业务持续承压。公司上年度非流动资产处置收益7.71亿元，本年度同比显著下降。 智通财经APP讯，上海建工(600170.SH)发布2025年年度业绩预减公告，预计2025年度实现归属于母公 司所有者的净利润10亿元到12亿元，与上年同期相比，将下降44.6%到53.9%。公司预计2025年度实现 归属于母公司所有者的扣除非经常性损益后的净利润0.4亿元到0.6亿元。 ...

（记者 曾健辉） 每经头条（nbdtoutiao）——国际金价冲破5000美元！7年涨了280%，什么时候才见顶？专家：关键还 看美元，重点关注国际货币体系、降息和科技革命 每经AI快讯，上海建工1月26日晚间发布业绩预告，预计2025年年度实现归属于母公司所有者的净利润 10亿元到12亿元，与上年同期21.68亿元相比，将减少9.68亿元到11.68亿元，同比减少44.6%~53.9%。业 绩变动主要原因是，主营业务影响。2025年，受固定资产投资规模、结构调整等因素影响，公司新签合 同额及在建工程规模不及预期，合同实施节奏放缓，产值转化效率下降，导致营业收入、利润总额同比 下滑。因房地产市场深度调整，公司房地产开发、运营业务持续承压。非经营性损益影响。公司上年度 非流动资产处置收益7.71亿元，本年度同比显著下降。 ...

格隆汇1月26日丨上海建工(600170.SH)公布，公司预计2025年度实现归属于母公司所有者的净利润10亿 元到12亿元，与上年同期相比，将下降44.6%到53.9%。公司预计2025年度实现归属于母公司所有者的 扣除非经常性损益后的净利润0.4亿元到0.6亿元。 （二）非经营性损益影响 公司上年度非流动资产处置收益7.71亿元，本年度同比显著下降。 （一）主营业务影响 2025年，受固定资产投资规模、结构调整等因素影响，公司新签合同额及在建工程规模不及预期，合同 实施节奏放缓，产值转化效率下降，导致营业收入、利润总额同比下滑。因房地产市场深度调整，公司 房地产开发、运营业务持续承压。 本期业绩预减的主要原因： ...