前言： 存量运营时代，"好服务"已成为行业突破困境、实现高质量发展的核心议题，为深入探讨物业服务质量提升行动的落地路径， 中指研究院围绕"行业困境—价值重构—标准建设—科技赋能—资产运营"开展系列专题研究，并于2026年1月29日举办了"品质 物管'好服务'系列主题分享会——如何落实物业服务质量提升行动？"，点击链接可以观看分享会精彩观点与直播回放。 "好服务"系列专题文章： 当下，伴随着宏观经济与房地产市场的下行，新房市场持续调整，根据国家统计局的公开信息，2025年房屋新开工面积同比下 降20.4%。在此背景下，物业管理行业已经从关注新房项目的增量市场，逐渐转变为重视存量项目管理、存量资产运营的存量市 场。同时，物业企业的增长动力也出现转变，从抢占新增项目的市场空间，转向深挖现有的客户与项目价值，开展存量资产运 营的重要性正在持续提升。 那么，对于物业企业而言，开展存量资产运营的意义是什么？存量资产运营应当通过哪些途径落地实施？增值服务之于存量资 产运营有着什么样的价值，又应当基于什么样的原则去执行？当前政策多次提及的"物业服务+生活服务"模式又该如何落地？本 文将从以上问题出发，探究当下物业管理行业通过 ...

致：香港交易及結算所有限公司 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 公司名稱: 融創服務控股有限公司 呈交日期: 2026年2月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01516 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/ ...

融创服务(01516)发布公告，于2026年2月4日，本公司全资附属公司东台融嘉认购中信证券资管发行的 固定收益类理财产品，认购金额为人民币2亿元。认购资金以本集团自有资金拨付。 ...

智通财经APP讯，融创服务(01516)发布公告，于2026年2月4日，本公司全资附属公司东台融嘉认购中信 证券资管发行的固定收益类理财产品，认购金额为人民币2亿元。认购资金以本集团自有资金拨付。 ...

格隆汇2月4日丨融创服务(01516.HK)公告，于2026年2月4日，公司全资附属公司东台融嘉认购中信证券 资管发行的固定收益类理财产品，认购金额为人民币2亿元。认购资金以集团自有资金拨付。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 SUNAC SERVICES HOLDINGS LIMITED 融創服務控股有限公司 – 1 – 認購理財產品 | 認購事項1的主要條款 | | | | --- | --- | --- | | 投資日期 | ： | 2025年1月13日 | | 訂約方 | ： | (i)東台融嘉；(ii)中信證券資管；及(iii)中信銀 | | | | 行天津分行，作為託管人 | | 產品名稱 | ： | 中信證券資管信信向榮尊享11號FOF單一資產 | | | | 管理計劃 | | 產品類型 | ： | 固定收益類 | | 投資範圍 | ： | 銀行存款、 同業存單、 國債、 中央銀行票據、 | | | | 金融債券等 | | 金額 | ： | 於本公告日期，尚持有約人民幣1.967億元 | | 預計投資期限 | ： | 可在管理人設置的開放日申請退出（每周開放不 | | | | 超過三個工作日，具體以管理人提前通知 ...

Group 1 - Lee & Man Paper Manufacturing (02314) rose nearly 6% after Nine Dragons Paper announced a profit forecast of approximately 2.15 billion to 2.25 billion yuan for the six months ending December 31, 2025, representing a year-on-year increase of 216.0% to 230.7% [1] - New Oriental Education (09901) increased nearly 4% following the release of its financial results for the second quarter of fiscal year 2026, showing a 14.7% year-on-year increase in net revenue and a 244.4% rise in operating profit [1] - Jolywood (06680) surged nearly 7% as rare earth prices continued to rise, with neodymium and praseodymium oxide prices increasing by over 120,000 yuan per ton [1] Group 2 - Chinese property management stocks saw a significant rise, with Sunac Services (01516) up 5.67% and Greentown Services (02869) up 5.81%, as a report predicted an average revenue growth of 6% for property management companies by 2025 [2] - Valiant Pharmaceuticals (09887) gained nearly 4% after receiving FDA fast track designation for its dual-specific antibody LBL-034 for treating relapsed/refractory multiple myeloma [2] - The commercial aerospace sector showed signs of recovery, with Junda Co. (02865) rising 12.1% as the China Aerospace Science and Technology Corporation emphasized the importance of the next decade for developing a strong aerospace industry [2] Group 3 - Aigo Group (00328) experienced a dramatic drop, falling over 88% at one point, with a total market value dropping below 35 million HKD [3] - China Overseas Development (00688) rose over 4.2% as Citigroup's report indicated that the Chinese real estate sector would face significant impairment and margin decline challenges in fiscal year 2025 [3] - Yuegangwan Holdings (01396) increased by 8% after announcing a share placement to raise 108 million yuan, with about 70% allocated for AI computing power cloud service projects [3] Group 4 - Junda Co. (02865) saw a rise of 11.99% as the China Aerospace Science and Technology Corporation held a meeting emphasizing the need to overcome challenges in commercial rocket launches and reusable technology [4] Group 5 - In the US market, New Oriental (EDU.US) rose 5.32% after reporting a net revenue of 1.191 billion USD for the second quarter of fiscal year 2026, a 14.7% year-on-year increase [5][6] - Semiconductor equipment and materials sector saw gains, with Texas Instruments (TXN.US) up 9.94% as it projected first-quarter revenue between 4.32 billion and 4.68 billion USD, slightly above analyst expectations [5] - Storage sector stocks surged, with Seagate Technology (STX.US) up 19.14% as it projected third-quarter revenue of 2.9 billion USD, significantly higher than analyst estimates [5]

Group 1 - Hong Kong property management stocks experienced a significant surge in early trading, indicating a positive market sentiment [1] - Sunac Services (01516.HK) rose by 5.67%, reaching HKD 1.49 [1] - Jinmao Services (00816.HK) increased by 4.67%, trading at HKD 2.69 [1] - Greentown Services (02869.HK) saw a rise of 4.88%, with a price of HKD 4.51 [1] - Wanwu Cloud (02602.HK) gained 4.01%, priced at HKD 19.44 [1]

Group 1 - The core viewpoint of the article highlights a significant surge in the stock prices of property management companies, driven by positive market sentiment and forecasts for revenue growth [1] - According to CICC, the average revenue growth for major property management companies is expected to be 6% year-on-year by 2025, with overall profit margins remaining stable and core net profit projected to grow by 4% year-on-year [1] - Morgan Stanley anticipates that the performance of covered mainland property management companies for the previous year will generally meet expectations, with profit growth in the low single digits, indicating increasing differentiation among companies [1] Group 2 - The article notes that the expected annual dividend payout ratio for various companies is between 30% and 75%, corresponding to an average dividend yield of 5.5% [1] - According to Morgan Stanley, while profit margins for property management and service companies remain under pressure in the short term, leading project management firms are expected to exit low-quality and non-core projects to optimize their business portfolios [1] - The overall operating cash flow for the year is projected to maintain around one times the profit, reflecting a cautious but stable outlook for the sector [1]

Core Viewpoint - The property management stocks in China experienced a significant surge, with major companies showing notable increases in their stock prices, indicating a positive market sentiment towards the sector [1] Group 1: Stock Performance - Sunac Services (01516) rose by 5.67%, trading at HKD 1.49 [1] - Jinmao Services (00816) increased by 4.67%, trading at HKD 2.69 [1] - Greentown Services (02869) saw a rise of 4.88%, trading at HKD 4.51 [1] - Wanwu Cloud (02602) grew by 4.01%, trading at HKD 19.44 [1] Group 2: Financial Projections - CICC forecasts an average revenue growth of 6% year-on-year for major property management companies by 2025, with overall profit margins remaining stable [1] - The average core net profit is expected to grow by 4% year-on-year [1] - The anticipated annual dividend payout ratio for these companies is between 30% to 75%, corresponding to an average dividend yield of 5.5% [1] Group 3: Market Analysis - Morgan Stanley predicts that the performance of covered mainland property management companies for the previous year should meet expectations, with profit growth in the low single digits, but increasing differentiation among companies [1] - According to Morgan Stanley, short-term profit margins for property management and service companies remain under pressure, but leading project management firms are expected to exit low-quality and non-core projects to optimize their business portfolios [1] - It is anticipated that the operating cash flow for the year will maintain around one times the profit [1]