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 公司名稱： 綠城服務集團有限公司 呈交日期： 2026年1月5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 | | | | | 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（不包括庫存股 ...

Investment Rating - The report maintains an "Outperform" rating for the real estate industry [8] Core Insights - The report emphasizes the financial attributes of real estate, highlighting its significant impact on the macro economy and the necessity for strong policy support from the central government [16][18] - It suggests that policies should be implemented in a decisive manner to stabilize market expectations, avoiding gradual measures that have proven ineffective [17] - The report anticipates a shift towards a new model of "affordable housing + quality housing + services," with an acceleration in the acquisition of existing properties to alleviate inventory pressure [18] Summary by Sections 1. Market Trends - The real estate market is expected to stabilize with policies that support both demand and supply, particularly in major cities where restrictions may be eased [16][18] - The report notes a significant decline in new and second-hand housing transaction volumes, with year-on-year decreases of 22.39% and 28.04% respectively [72] 2. Stock Market and Credit Bonds - The A-share real estate sector underperformed the market, with a weekly decline of 0.69%, trailing the broader market by 0.10 percentage points [21][22] - The issuance of real estate credit bonds totaled 1.514 billion yuan, with a net financing amount of -2.527 billion yuan [21] 3. REITs Market - The REITs index experienced a decline of 0.36%, with the property REITs index down 0.39% and the operating rights REITs index down 0.33% [41][54] - The total transaction volume for REITs was 0.551 billion yuan, reflecting a significant decrease of 59.30% compared to the previous period [56] 4. Land Market - The report indicates a decrease in land supply across major cities, with a 66.43% drop in supply and a 132.09% increase in transaction area, alongside a rise in premium rates [5] 5. Policy Outlook - The report outlines expectations for more robust housing policies in 2026, including the removal of restrictive measures and a focus on meeting diverse housing needs [18][19]

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: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 綠城服務集團有限公司 呈交日期: 2026年1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) | 02869 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 38,000,000,000 | HKD | | 0.00001 | HKD | | 380,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 38,000,000,000 | HKD | | 0.00001 | HKD | | 380,000 | ...

Investment Rating - The report maintains an "Overweight" rating for the real estate industry [4][6] Core Views - The real estate market in 2025 is expected to remain sluggish, with new home transactions down by 15.8% year-on-year, while second-hand home transactions show a slight increase of 3.9% [11][22] - The report emphasizes that the policy environment is expected to become more stringent, similar to the conditions seen in 2008 and 2014, indicating that the current policy adjustments are still in progress [4] - The report suggests that the real estate sector serves as an early economic indicator, making it a valuable asset class for investment [4] - The competitive landscape in the industry is improving, with leading state-owned enterprises and select mixed-ownership and private companies expected to perform better in land acquisition and sales [4] - The report highlights a focus on first-tier and select second-tier cities for investment, as these areas are likely to see better performance during market rebounds [4] Summary by Sections New Home Transactions - In 2025, the cumulative new home transaction volume in 30 sample cities reached 98.217 million square meters, a decrease of 15.8% year-on-year [11] - First-tier cities accounted for 26.191 million square meters, down 12.0%, while second-tier cities saw a decline of 15.6% to 49.040 million square meters [11] - December 2025 saw a significant drop in new home transactions, with a total of 9.679 million square meters, reflecting a year-on-year decrease of 40.0% [2][11] Second-Hand Home Transactions - The total area of second-hand home transactions in 2025 was 103.989 million square meters, marking a year-on-year increase of 3.9% [22] - First-tier cities recorded a total of 43.287 million square meters in second-hand home transactions, up 4.4% year-on-year [22] Market Performance - The report notes that the real estate index decreased by 0.7% this week, lagging behind the CSI 300 index by 0.10 percentage points, ranking 19th among 31 sectors [34] - The report identifies a total of 28 stocks that increased in value this week, while 82 stocks experienced declines [34] Credit Bond Issuance - In the week of December 29 to January 4, only one credit bond was issued by real estate companies, totaling 250 million yuan, a decrease of 44.82 million yuan from the previous week [45]

Core Viewpoint - The property management industry is increasingly adopting robots to reduce costs and improve efficiency, with a focus on both internal use and commercialization of robotic solutions [4][13][62]. Group 1: Adoption of Robots in Property Management - Property companies are replacing human workers with robots for repetitive and labor-intensive tasks, as labor costs typically account for over 70% of their expenses [7][13]. - Companies like Greentown Service and Country Garden are collaborating with leading robotics firms to enhance their operational efficiency through robotic solutions [8][17]. - The introduction of robots is seen as a way to shift from labor-intensive to technology-intensive operations, which is crucial for maintaining competitive advantage in a saturated real estate market [13][14]. Group 2: Commercialization and Development of Robotics - The industry consensus indicates that while property robots are moving towards commercialization, significant challenges remain, including the need for diverse application scenarios and effective human-robot collaboration [9][10]. - As per research, a significant drop in hardware costs is expected as the annual shipment of certain robots increases from 1,000 to 10,000 units, potentially leading to a pivotal moment for property robots by 2025 [10]. - Companies are exploring two main pathways: applying robots in their own operations to enhance efficiency and customer satisfaction, and commercializing their developed robotic solutions to other property firms [15][16]. Group 3: Technological Advancements and Integration - The development of advanced algorithms and AI capabilities is enhancing the functionality of property robots, allowing for better task execution and interaction with users [32][44]. - Companies like Wanwu Cloud are focusing on creating a comprehensive AI system that integrates various robotic functions, aiming to improve operational efficiency and reduce costs [27][66]. - The introduction of the Lingstone 3.0 system by Wanwu Cloud is a significant step towards creating a unified platform for robotic operations, which can adapt to various property management needs [44][66]. Group 4: Challenges and Future Directions - The path to large-scale commercialization of property robots is fraught with challenges, including the need for standardized operating procedures (SOPs) and effective integration with existing systems [50][62]. - Companies are recognizing the importance of training personnel to work alongside robots, which is essential for achieving effective human-robot collaboration [52][53]. - Future business models may shift towards "robot as a service" (RaaS) and data value-added services, emphasizing the need for a robust platform that can manage various robotic systems and their interactions [70][71].

智通财经APP讯，绿城服务(02869)发布公告，于2026年1月2日斥资93.96万港元回购20.8万股。 ...

| 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（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 (註4) | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2025年12月31日 | 3,138,010,968 | | 14,776,000 | | 3,152,786,968 | | 1). 購回股份 (股份被持作庫存股份) | | | -208,000 0.0066 % | 208,000 HKD | 4.5078 | | | 變動日期 2026年1月2日 | | | | | | | | ...

| 2025.01.08 | 252.40 | 3.800 | 3.660 | 941.11 | | --- | --- | --- | --- | --- | | 2025.01.07 | 200.00 | 3.760 | 3.640 | 743.73 | | 2025.01.06 | 163.80 | 3.890 | 3.650 | 612.74 | | 2025.01.03 | 165.60 | 3.880 | 3.780 | 637.38 | | 2025.01.02 | 155.80 | 3.890 | 3.790 | 600.49 | （文章来源：证券时报网） 证券时报·数据宝统计，绿城服务在港交所公告显示，12月31日以每股4.510港元至4.690港元的价格回购 125.40万股，回购金额达576.40万港元。该股当日收盘价4.690港元，上涨4.45%，全天成交额1559.12万 港元。 自11月13日以来公司已连续33日进行回购，合计回购1208.00万股，累计回购金额5486.44万港元。 其间 该股累计下跌4.09%。 今年以来该股累计进行59次回购，合计回购3194.60万股，累计回 ...

智通财经APP讯，绿城服务(02869)公布，2025年12月31日耗资约576.4万港元回购125.4万股股份。 ...

绿城服务(02869)公布，2025年12月31日耗资约576.4万港元回购125.4万股股份。 ...