建筑行业行业深度报告：建筑高股息投资机会有哪些？

银河证券2025-08-08

政策持续强化对上市公司分红的引导。监管层明确对股东回报的重视，推动企业建立更稳定、更透明的分红机制。同时，央企考核指标体系迎来调整，从企业内部治理层面形成约束，建筑板块央国企商业结构有望持续优化，分红比例、估值水平有望稳步提升。2024年至今涨幅超过50%的银行指数，其成分中42家银行的平均股息率为3.95%，2024年平均分红比例为26.2%。建筑行业超过上述水平分红的上市公司较多，未来或迎来较...

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601390.SH)、浙江交科(002061.SZ)等。中央政策推动房地产止跌回稳，房建与装饰龙头股息率分化较天。房建行业的中国建筑、陕建股份的股息率分别为4.80%、3.61%。装修装饰行业的江河集团、郑中设计的股息率分别为为7.00%、3.45%。股息率分化较大。推荐中国建筑（601668.SH）、陕建股份（600248.SH）、江河集团（601886.SH)等。工程咨询企业资金占用少，分红比例较高。地铁设计、设计总院的股息率分别为3.26%、3.24%。工程咨询板块企业积极布局低空经济、AI设计等新兴领域，想象空间大，推荐地铁设计（003013.SZ)、设计总院（603357.SH)等。洁净室、钢结构、国际工程、化学工程分红比例高。亚翔集成、中材国际三维化学、中钢国际的股息率分别为5.39%、4.96%、4.79%、4.73%。中国化学、东华科技的股息率分别为2.33%、1.50%。国际工程企业积极布局海外煤化工在能源转型中迎来发展良机，洁净室工程下游需求旺盛。推荐中材国际（600970.SH）、中钢国际（000928.SZ）、中国化学（601117.SH）、东华科技 002140.SZ)等，建议关注三维化学(002469.SZ)、亚翔集成（603929.SH)等。风险提示：固定资产投资下滑的风险：新签订单下滑的风险：应收账款回收不及预期的风险；政策与外部环境不确定性增加的风险。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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