Investment Rating - The industry investment rating is "Overweight" (maintained) [1] Core Insights - The report highlights a significant reduction in the minimum down payment ratio for commercial property loans to 30%, aimed at stimulating the commercial real estate market and facilitating inventory reduction [5][6] - The current inventory of commercial properties is high, with 141 million square meters of commercial space available for sale as of November 2025, including 52 million square meters of office space [6] - The report anticipates further policy easing to support the commercial real estate sector, as the current measures may have limited impact due to existing disadvantages in loan terms compared to residential mortgages [7][8] Summary by Sections Market Trends - The report indicates a downward trend in the commercial real estate market, with rising vacancy rates and declining rental prices [7] Policy Changes - The People's Bank of China has introduced measures to lower the down payment ratio for commercial property loans, which is expected to ease initial funding pressures for buyers [5][8] Investment Recommendations - Recommended stocks include: 1. Companies benefiting from both residential and commercial real estate recovery: China Resources Land, New World Development, Longfor Group [8] 2. Firms with strong credit profiles and good understanding of customer demand: Greentown China, China Merchants Shekou, China Overseas Land & Investment [8] 3. High-quality property management companies under the "Good House, Good Service" policy: China Resources Mixc Lifestyle, Greentown Service, Poly Property [8]

Group 1 - The company, Greentown Service (02869), announced a share buyback plan on January 15, 2026, involving an expenditure of HKD 2.9148 million [1] - The company will repurchase a total of 652,000 shares at a price range of HKD 4.41 to HKD 4.54 per share [1]

Core Viewpoint - Greentown Service (02869) announced a share buyback plan, indicating confidence in its stock value and potential for future growth [1] Group 1: Share Buyback Details - The company will repurchase 652,000 shares at a total cost of HKD 2.9148 million [1] - The buyback price per share ranges from HKD 4.41 to HKD 4.54 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 (i) 上市發行人已收取其在是次股份發行或庫存股份出售或轉讓應得的全部款項； 公司名稱： 綠城服務集團有限公司 呈交日期： 2026年1月15日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02869 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | ...

Core Viewpoint - Greentown Service (02869) announced a share buyback of 430,000 shares at a cost of HKD 1.9303 million, scheduled for January 14, 2026 [1] Group 1 - The company is engaging in a share repurchase program, indicating confidence in its own stock value [1] - The total expenditure for the buyback is approximately HKD 1.9303 million [1] - The number of shares being repurchased is 430,000 [1]

智通财经APP讯，绿城服务(02869)发布公告，于2026年1月14日，该公司斥资193.03万港元回购43万 股。 ...

格隆汇1月14日丨绿城服务(02869.HK)发布公告，2026年1月14日耗资193.03万港元回购43万股，回购价 格每股4.41-4.56港元。 ...

如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 FF305 公司名稱： 綠城服務集團有限公司 呈交日期： 2026年1月14日 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02869 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存 ...

绿城服务(02869)发布公告，于2026年1月12日，该公司斥资187.61万港元回购41.4万股。 绿城服务 分时图 日K线 周K线 月K线 4.49 -0.01 -0.22% 1.33% 0.89% 0.44% 0.00% 0.44% 0.89% 1.33% 4.44 4.46 4.48 4.50 4.52 4.54 4.56 09:30 10:30 12:00/13:00 14:00 16:10 0 14万 27万 41万 ...

Group 1 - The article discusses the share buybacks conducted by various companies on January 13, 2026, with Tencent Holdings (00700) having the largest buyback amount of 636 million yuan for 1.012 million shares [1][2] - Other notable companies involved in the buyback include Xiaomi Group (01810) with 4 million shares repurchased for 152 million yuan, and Sunny Optical Technology (02382) with 640,000 shares for approximately 41.79 million yuan [1][2] - The total number of shares repurchased by Tencent Holdings in the year reached 11 million, representing 1.199% of its total share capital [2] Group 2 - The buyback activities reflect a strategic move by companies to enhance shareholder value and signal confidence in their financial health [1][2] - Companies like Weigao Group (01066) and Xinli International (00732) also showed significant buyback activity, with Weigao repurchasing 27,440 shares for 1.4962 million yuan, representing 6.519% of its total share capital [2] - The data indicates a trend among companies to engage in share buybacks as a method to return capital to shareholders and potentially boost stock prices [1][2][3]