| 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2024-058 | | --- | --- | --- | --- | --- | | 债券代码：240782 | 债券简称：24 | 沪建 | Y1 | | | 债券代码：240783 | 债券简称：24 | 沪建 | Y2 | | | 债券代码：241305 | 债券简称：24 | 沪建 | Y3 | | | 债券代码：241857 | 债券简称：24 | 沪建 | Y4 | | 上海建工集团股份有限公司 关于竞得土地使用权的公告 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。 2024 年 11 月 28 日，上海建工集团股份有限公司（简称"上海建工"或"公 司"）下属上海建工房产有限公司（简称"建工房产"）与上海保利城市发展有限 公司组建联合体，参加了上海市杨浦区规划和自然资源局组织的国有建设用地使 用权出让活动，竞得杨浦区 N090601 单元 I5-01 地块（简称"本地块"）的国有 建设用地使用权，并签订土地出让合同。建工房产在联合体的投 ...

| 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2024-057 | | --- | --- | --- | --- | --- | | 债券代码：240782 | 债券简称：24 | 沪建 | Y1 | | | 债券代码：240783 | 债券简称：24 | 沪建 | Y2 | | | 债券代码：241305 | 债券简称：24 | 沪建 | Y3 | | | 债券代码：241857 | 债券简称：24 | 沪建 | Y4 | | 上海建工集团股份有限公司 上海建工集团股份有限公司（简称"上海建工"或"公司"）2016 年度核心 员工持股计划（简称"员工持股计划"）所持公司股份已于近日通过集中竞价交 易方式减持完毕。根据中国证监会《关于上市公司实施员工持股计划试点的指导 意见》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》等相关规 定，现将相关情况公告如下： 根据《上海建工核心员工持股计划(修订稿)(认购非公开发行股票方式)》相 关规定，员工持股计划所持有最终标的股票一次性或分批次出售结束后，员工持 股计划终止并清算。 2020 年 2 月 28 日，本员工持股计划锁 ...

证券代码：600170 证券简称：上海建工 公告编号：2024-056 上海建工集团股份有限公司 2024 年第二次临时股东大会决议公告 二、 议案审议情况 (一) 非累积投票议案 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 | 1、出席会议的股东和代理人人数 | 2,007 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 4,235,377,165 | | 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 | 47.6638 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，会议由董事长杭迎伟先生主持。会议采用 现场投票和网络投票相结合的表决方式进行表决。会议的召开和表决程序符合 《公司法》和《公司章程》的规定，会议合法有效。 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。 (一) 股东大会召开的时间：2024 年 11 月 19 日 (二) 股东大会召开的地点：上海 ...

Jin Mao Partners 金 茂 凯 德 律 师 事 务 所 13F, HongKongNewWorld Tower, No.300 HuaihaiZhongRd, Shanghai, 200021,P.R.C. 中国上海淮海中路 300 号香港新世界大厦 13 层邮编：200021 Tel/电话:(8621)63872000 Fax/传真:(8621)63353272 上海金茂凯德律师事务所 关于上海建工集团股份有限公司 2024 年第二次临时股东大会的法律意见书 致：上海建工集团股份有限公司 上海建工集团股份有限公司（以下简称"公司"）2024 年第二次临时股东大 会（以下简称"本次股东大会"）于 2024 年 11 月 19 日在上海市虹口区东大名 路 666 号 B 楼 201 会议室召开。上海金茂凯德律师事务所（以下简称"本所"） 经公司聘请委派李志强律师、游广律师出席会议，并根据《中华人民共和国公司 法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证 券法》"）、中国证券监督管理委员会《上市公司股东大会规则》（以下简称"《股 东大会规则》"）、《上海证券交易所上市公司 ...

Investment Rating - The investment rating for Shanghai Construction (600170) is "Accumulate" with a target price of 4.20 CNY, up from the previous forecast of 3.05 CNY [5][10]. Core Views - Shanghai Construction is a leader in the construction industry in Shanghai and is expected to benefit from the market value management policies introduced by the China Securities Regulatory Commission (CSRC) and the ongoing state-owned enterprise reform in Shanghai [3][10]. Financial Summary - The total revenue for 2024 is projected to be 330.33 billion CNY, reflecting an 8.4% increase from 2023 [11]. - The net profit attributable to shareholders for 2024 is expected to be 1.73 billion CNY, representing an 11% increase from 2023 [11]. - Earnings per share (EPS) for 2024 is forecasted at 0.19 CNY, with subsequent increases to 0.21 CNY in 2025 and 0.23 CNY in 2026 [10][11]. - The net profit margin for 2024 is projected to be 0.63%, a slight increase from 0.58% in 2023 [10]. Market Data - The current market price is 2.83 CNY, with a 52-week price range of 1.89 to 2.83 CNY [6]. - The total market capitalization is approximately 25.15 billion CNY [6]. Order and Revenue Trends - New signed contracts for the first three quarters of 2024 totaled 277.8 billion CNY, a decrease of 9.2% year-on-year [10]. - The construction segment saw a decline in new contracts by 5.4%, totaling 231.4 billion CNY [10][17]. Regulatory Environment - The CSRC has issued guidelines aimed at enhancing the quality of listed companies, which is expected to positively impact the valuation of companies like Shanghai Construction [10].

Summary of Conference Call Company and Industry Overview - The conference call focused on Shanghai Construction Group (上海建工) and the construction industry, particularly in the context of debt resolution policies impacting the sector [1][2]. Key Points and Arguments 1. **Debt Resolution Impact**: The debt resolution policies are expected to significantly influence the construction sector's balance sheets and profit margins, becoming a major investment theme for the remainder of the year and into the next [1][2]. 2. **Market Conditions**: The construction market has faced challenges, particularly in the third quarter, but there are signs of improvement due to government policies aimed at stabilizing the industry [2][3]. 3. **Contract Performance**: In the first three quarters, Shanghai Construction Group signed new contracts worth 277.8 billion yuan, with 205.3 billion yuan (74%) coming from the Shanghai region. The company is focusing on major projects in this core market [3][4]. 4. **Revenue and Profit**: The company reported revenues of 214 billion yuan and a profit of 1.35 billion yuan for the first three quarters, indicating stable performance despite industry challenges [4][5]. 5. **Debt Recovery Efforts**: The company is actively working on debt recovery, with accounts receivable showing a decrease. Approximately 50% of the receivables are from government-related projects, indicating a strong reliance on public sector contracts [6][7]. 6. **Project Pipeline**: The company has a robust project pipeline, with significant ongoing projects in Shanghai, including major infrastructure developments. The focus remains on converting orders into revenue [5][6]. 7. **Emerging Business Areas**: The company is expanding into new business areas, with 70.2 billion yuan in new contracts from emerging sectors, representing 25% of total new contracts in the third quarter [5][6]. 8. **Government Collaboration**: The company has been in communication with local governments to expedite the recovery of receivables, particularly in Jiangsu and Sichuan, where progress has been noted [8][9]. 9. **Future Outlook**: The company anticipates that the implementation of debt resolution policies will improve cash flow and operational performance in the coming quarters [10][11]. 10. **Market Trends**: The construction industry is experiencing a shift towards government-funded projects, with an increasing proportion of contracts coming from public infrastructure initiatives [28][29]. Additional Important Content - **Technological Innovation**: The company is investing in construction robotics and automation to enhance efficiency and reduce costs, which is seen as a critical area for future growth [19][20]. - **Market Strategy**: The company plans to focus on economic efficiency rather than just growth in scale, reflecting a strategic shift in response to changing market conditions [30][31]. - **Performance Metrics**: The company is under pressure to meet new performance metrics set by government authorities, which include a focus on market capitalization and operational efficiency [20][21]. This summary encapsulates the key insights from the conference call, highlighting the company's strategic direction, market conditions, and future outlook within the construction industry.

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for the stock over the next six months [4][5][13]. Core Insights - The company experienced a temporary pressure on revenue and profit in Q3 2024, with total revenue for the first three quarters at 2140.13 billion, down 4.05% year-on-year. However, net profit attributable to shareholders increased by 4.30% to 13.51 billion [1]. - The gross margin improved significantly, with a Q3 gross margin of 9.41%, up 1.12 percentage points year-on-year, reflecting better cost management [3]. - New orders signed in the first three quarters of 2024 totaled 2778.03 billion, a decrease of 9.18% year-on-year, with a focus on core business areas and emerging sectors [2]. Summary by Sections Financial Performance - For Q3 2024, the company reported a revenue of 680.36 billion, down 13.52% year-on-year, with net profit attributable to shareholders at 5.25 billion, a decrease of 2.75% [1]. - The comprehensive gross margin for the first three quarters was 8.19%, with a net profit margin of 0.69%, reflecting a slight year-on-year increase [3]. Order and Business Development - The company signed new contracts worth 2778 billion in the first three quarters, with significant contributions from the Shanghai market, accounting for 74% of total new contracts [2]. - Emerging business sectors, including urban renewal and ecological projects, contributed 702 billion to new contracts, representing 25% of the total [2]. Future Outlook - The report anticipates improved cash flow due to the implementation of debt reduction policies and stabilization in the real estate market, supporting long-term growth potential [4]. - The profit forecast for 2024-2026 has been slightly adjusted, with expected net profits of 17 billion, 18.8 billion, and 21 billion respectively [4].

上海建工集团股份有限公司 关于提供担保的进展公告 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。 重要内容提示： 一、担保情况概述 （一）2024 年 10 月，因申请各类贷款、银行承兑汇票、预付款保函、履约保 函和农民工工资保函等，上海建工集团股份有限公司（以下简称"公司"）为资产 负债率高于 70%的 17 家子公司提供 26.56 亿元担保，为资产负债率低于 70%的 1 家子公司提供 15 亿元担保。合计提供担保总额 41.56 亿元。详情如下： | 担保人 | 被担保人 | 担保金额 （万元） | 担保到期日 | 债权人 | | --- | --- | --- | --- | --- | | 上海建工集团股份有限公司 | 上海建工集团投资有限公司 | 150,000 | 2031.10.21 | 中信信托有限责任公司 | | 上海建工集团股份有限公司 | 上海建工一建集团有限公司 | 17 | 2025.4.30 | 建设银行上海第二支行 | | 上海建工集团股份有限公司 | 上海建工一建集团有限公司 | 145 | ...

| 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2024-054 | | --- | --- | --- | --- | --- | | 债券代码：240782 | 债券简称：24 | 沪建 | Y1 | | | 债券代码：240783 | 债券简称：24 | 沪建 | Y2 | | | 债券代码：241305 | 债券简称：24 | 沪建 | Y3 | | | 债券代码：241857 | 债券简称：24 | 沪建 | Y4 | | 公司对尹克定先生在任职期间做出的贡献和努力表示衷心的感谢！ 为保证公司财务工作的正常开展，公司董事会决定在聘任新的总会计师之 前，由公司副总会计师沈广军先生代为履行总会计师职责。 特此公告。 上海建工集团股份有限公司董事会 2024年11月9日 关于高级管理人员辞职的公告 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。 近日，上海建工集团股份有限公司（简称"上海建工"或"公司"）董事会 收到公司总会计师尹克定先生的书面辞职报告。尹克定先生因到龄退休，辞去公 司总会计师职务 ...

上海建工集团股份有限公司 2024 年面向专业投资者公开发行可续期公司债券（第三期） 发行结果公告 | 证券代码：600170 | 证券简称：上海建工 | | | 公告编号：2024-053 | | --- | --- | --- | --- | --- | | 债券代码：240782 | 债券简称：24 | 沪建 | Y1 | | | 债券代码：240783 | 债券简称：24 | 沪建 | Y2 | | | 债券代码：241305 | 债券简称：24 | 沪建 | Y3 | | | 债券代码：241857 | 债券简称：24 | 沪建 | Y4 | | 上海建工集团股份有限公司董事会 2024年11月9日 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。 本期债券的基础期限为5年，以每5个计息年度为一个周期，在每个周期末， 发行人有权选择将本期债券的期限延长1个周期（即延长5年），或选择在该周期 末到期全额兑付本期债券。 本期债券（债券简称：24沪建Y4，代码：241857.SH）发行规模20.00亿元， 票面利率为2.68 ...