此番地产行情走强，得益于多重积极信号叠加催化。 政策层面，2月25日，上海市住房城乡建设管理委、市房屋管理局等五部门联合印发《关于进一步优化调整本市房地产政策 的通知》，自2026年2月26日起施行，主要包括三方面：进一步调减住房限购政策、优化住房公积金贷款政策和完善个人住 房房产税政策。 其中，限购方面，非沪籍外环内购房社保门槛降至1年；缴纳社保/个税满 3 年可增购1套；持居住证满5年可购1套住房，无 需提供社保或个税证明。公积金方面，首套贷款最高额度提至240万（多子女家庭贷款最高额度可达324万元），并放宽二 套贷款认定。税收方面，成年子女首套房暂免征收个人住房房产税。 上海易居房地产研究院副院长严跃进表示，上海发布楼市新政，充分体现上海综合施策、因城施策、发挥好存量和增量政 策集成效应的导向，亦符合2026年住房消费工作的相关要求。此次新政将在降低购房成本的同时，进一步促进住房消费需 求积极释放和供求关系平衡，亦进一步巩固当前楼市稳中向好的态势。 除政策利好外，春节期间，房企积极促销，多地项目"春节不打烊"，以特惠房源、购房折扣等促销活动，为市场"小阳 春"提前蓄力。 2月25日，港股、A股两市的地 ...

来源：第一财经 碧桂园涨超6%，建发国际集团涨超5%，龙湖集团、旭辉控股集团涨近5%，融创中国涨超4%，富力地 产、华润置地涨超3%。 (本文来自第一财经) ...

格隆汇2月25日｜港股市场内房股集体上涨，其中，碧桂园涨8%，建发国际集团涨超6%，绿城中国涨 5%，龙湖集团、金辉控股、旭辉控股集团、融信中国、中国海外宏洋集团、越秀地产、中国金茂、华 润置地、融创中国涨超4%。 | 代码 | 名称 | | 涨跌幅 V | 最新价 | 总市值 | 年初至今涨跌 | | --- | --- | --- | --- | --- | --- | --- | | 02007 | 碧桂园 | 0) | 8.06% | 0.335 | 139.99亿 | -19.28% | | 01908 | 建发国际集团 | | 6.54% | 15.810 | 354.17亿 | 1.02% | | 03900 | 绿城中国 | | 5.04% | 11.470 | 291.29 Z | 35.42% | | 00960 | 龙湖集团 | | 4.90% | 10.270 | 723.18亿 | 19.98% | | 09993 | 金辉控股 | | 4.85% | 1.730 | 69.98亿 | -5.98% | | 00884 | 旭辉控股集团 | | 4.82% | 0.087 | 14. ...

每经AI快讯，2月25日，港股内房股盘初走强，碧桂园涨超6%，龙湖集团、旭辉控股集团涨近5%，融 创中国涨超4%。 （文章来源：每日经济新闻） ...

截至发稿，龙湖集团(00960.HK)涨4.90%、融创中国(01918.HK)涨4.84%、绿城中国(03900.HK)涨 4.76%。 来源：滚动播报 ...

上周新增非标风险事件 5 条，其中涉及发债主体的有 3 条，分别为 1 月 30 日的"光大 永明-中信国安棉花片危改项目不动产债权投资计划"（更新消息）、2 月 2 日的"中建 投·安泉 593 号(青岛融创)集合资金信托计划"（更新消息）和 2 月 4 日的"陕国投·沣东 新城城市发展基金集合资金信托计划"，目前状态分别为已违约、已偿还、已违约，融资 方式分别为债权计划、信托计划和信托计划。 1. 光大永明-中信国安棉花片危改项目不动产债权投资计划 中信国安棉花片危改项目不动产债权投资计划（以下简称"债权投资计划"），2016 年 11 月，光大永明资产管理股份有限公司（以下简称"光大永明"）发行了债权投资计划， 募集资金规模 26.65 亿，用于棉花片危改项目 A7 地块的拆迁、开发、建设，偿债主体为北 京中融物产有限责任公司，中信国安集团有限公司（胜遇评级 10-，债券已违约，以下简 称"中信国安"）提供本息全额无条件不可撤销连带责任保证担保。2019 年 11 月 6 日， 光大永明公告确认，中信国安未能按约定支付利息，已构成实质性违约；2024年 7月 26日 消息，投资人长生人寿保险有限公司（以 ...

Group 1 - The core point of the article is that Sunac China Holdings Limited (01918) has transferred shares from Citibank to Deutsche Bank, with a market value of HKD 769 million, representing 3.63% of the total shares [1] - Sunac China announced that on January 27, 2026, it will issue approximately 899 million new shares as part of a zero-coupon mandatory convertible bond due in 2026, which was issued on December 23, 2025 [1]

Group 1 - The core point of the article is that Sunac China Holdings Limited (01918) has transferred shares from Citibank to Deutsche Bank, with a market value of HKD 769 million, representing 3.63% of the total shares [1] - Sunac China announced that on January 27, 2026, it will issue approximately 899 million new shares as part of a zero-coupon mandatory convertible bond due in 2026, which was issued on December 23, 2025 [1]

Group 1 - The core issue is that Sunac China Holdings Limited has recently added a new entry as a judgment debtor, with an execution amount exceeding 450 million yuan, as recorded by Tianyancha [1] - The company currently has over 240 entries as judgment debtors, with a total execution amount exceeding 38 billion yuan, alongside multiple consumption restrictions and cases of dishonesty [1][6] - In August 2025, the company added 12 new judgment debtor entries within two days, with a total execution amount of over 2.12 billion yuan [1][6] Group 2 - Despite the increase in judgment debtor entries, Sunac China has made significant progress in debt restructuring, with the Hong Kong High Court rejecting a winding-up petition against the company on January 5, 2026 [2][6] - The rejection of the winding-up petition was primarily due to the completion of a comprehensive offshore debt restructuring, with approximately 9.6 billion USD of existing debt being fully discharged [4][8] - The company has also completed domestic debt restructuring, canceling 10.6 billion yuan in bonds and extending the remaining 4.8 billion yuan until June 2034 [4][8] Group 3 - In the first half of 2025, Sunac China reported revenues of 19.99 billion yuan, a year-on-year decrease of 41.7%, with a loss attributable to shareholders of 12.81 billion yuan [4][8] - The company's property management and cultural tourism segments performed well, generating over 5.6 billion yuan in revenue, accounting for 28.3% of total revenue [5][9] - Sunac Services achieved revenue of 3.55 billion yuan in the first half of 2025, with a net profit of 120 million yuan, marking a turnaround to profitability [5][9]

Group 1 - The core viewpoint of the article highlights a significant rise in the stock prices of major Chinese real estate companies, including Vanke, Country Garden, Longfor Group, and Sunac China, indicating a positive market sentiment [1] - As of the latest update, Vanke's stock increased by 3.76% to HKD 3.86, Country Garden rose by 3.57% to HKD 0.29, Longfor Group gained 3.05% to HKD 1.35, and Sunac China went up by 1.6% to HKD 1.27 [1] - Vanke's dollar bonds maturing in November 2029 experienced their largest increase since January 27, 2025, with a 5.7 cents rise to 38.7 cents per dollar for the 3.5% bond, and a 3.3 cents rise to 37.5 cents per dollar for the 3.975% bond maturing in November 2027 [1] Group 2 - Shanghai is advancing the acquisition of second-hand homes, which is seen as a measure to stabilize price expectations in the real estate market [1] - According to a report by Dongfang Securities, the market-oriented acquisition of "old, broken, and small" properties provides an exit channel for specific assets and helps reshape the "price anchor," potentially improving market confidence [1] - The article suggests that if the scope of acquisition expands, it could form a credit support leverage, significantly enhancing market sentiment, with a focus on the timing and intensity of related policy announcements throughout the year [1]