(本文来自第一财经) 万科企业涨超12%，远洋集团、融创中国涨超8%，新城发展控股、龙湖集团均涨超6%，越秀地产等跟 涨。 ...

Group 1 - The core point of the article highlights the significant stock price increase of Ocean Group, which rose by 10.17% to 0.13 CNY per share, with a trading volume of 13.25 million CNY on August 25 [1] - Ocean Group's main business includes residential development, real estate operation, property services, and full-chain construction services, with additional ventures in elder care, data real estate, logistics real estate, and real estate funds [1] - The company has developed and operated over 600 projects in more than 80 cities, and its property service subsidiary, Ocean Service, was listed on the Hong Kong Stock Exchange at the end of 2020, ranking among the top 20 property service companies in China [1] Group 2 - As of the 2024 annual report, Ocean Group reported total revenue of 23.641 billion CNY and a net loss of 18.624 billion CNY [2] - Ocean Group is set to disclose its mid-year report for the fiscal year 2025 on August 28 [3]

格隆汇8月25日｜港股内房股震荡上升，万科企业涨超12%，远洋集团、融创中国涨超8%，新城发展控 股、龙湖集团均涨超6%，越秀地产等跟涨。 消息面上，央行第二季度中国货币政策执行报告指出，下一阶段要持续巩固房地产市场稳定态势，完善 房地产金融基础性制度，助力构建房地产发展新模式。 ...

而在这两个项目，涅槃重生的故事背后，其实就埋藏好伏笔。这些年，行业出险房企只增不减，而遗留下来的，是那些停工楼盘、烂尾项目、以及未开工 的土地。 去年，国家不遗余力推进保交楼、推进房企融资白名单，全面建立了机制。于是，这个全新的赛道，现在许多房企现在正扎堆进入：不良资产代建。 如果说，在上海最命运多舛的楼盘，你会想到谁？ 我想，我会提名这两个知名的滨江豪宅，一个经历二十多年，开发商数次暴雷，归来仍是热销盘的融创外滩壹号院，另一个是屹立在东外滩多年烂尾的八 埭头。 回顾它诞生的来龙去脉，这个盘几乎没错过关于房地产的所有周期，期间更是经历了数次股权变更。 2002年泛海国际董家渡拿地→ 2015年才完成第一块地拆迁→ 泛海受困于资金→ 2019年融创收购项目100%股权→ 2022年融创债务危机→2022 年中信信托、华融资产成大股东→ 2024年项目热销超200亿，位居上海单盘第二 这是一个上海核心旧改地块涅槃重生的故事，其精彩程度堪比爽文，这次男主依旧还是融创和孙宏斌。 而另一个楼盘八埭头滨江园，2024年项目仍处于停工状态，如今也迎来白衣骑士，业主们在杂草丛生的社区生活了好几年之后，AMC机构终于为这个接 ...

Group 1 - The core viewpoint of the article highlights a significant increase in the stock prices of Chinese real estate companies following a government meeting that emphasized measures to stabilize the real estate market [1] - Vanke Enterprises (02202) saw an increase of 8.9%, Oceanwide Holdings (03377) rose by 7.63%, Sunac China (01918) increased by 5.92%, and Longfor Group (00960) grew by 5.88% [1] - The State Council's ninth plenary meeting on August 18 indicated that there is still potential policy space for the real estate sector, suggesting a positive outlook for the market [1] Group 2 - Ping An Securities noted that the second-hand housing market is more focused on meeting basic needs, leading to a price-volume trade-off, while "good houses" cater to improvement demands, resulting in a focus on quality-price ratio [1] - The supply of "good houses" remains relatively limited, which is expected to sustain short-term market enthusiasm [1] - Some real estate companies have shown signs of improvement in their financial reports, with companies like Binjiang and Jianfa reporting year-on-year growth [1] Group 3 - CITIC Securities indicated a clear divergence in the performance of real estate companies in the first half of the year, with developers and property companies in core cities performing exceptionally well [1] - Companies such as Binjiang Group, Jianfa International, Greentown Service, and Binjiang Service achieved double-digit profit growth [1] - Conversely, previously loss-making real estate companies continue to face significant losses in the first half of the year [1]

Core Viewpoint - Ocean Group (03377) has announced a profit warning, expecting a significant turnaround from a loss in the previous year to a profit in the upcoming period, primarily due to non-cash gains from debt restructuring [1] Financial Performance - The company anticipates a profit attributable to shareholders of approximately RMB 9.5 billion to RMB 11 billion for the six months ending June 30, 2025, compared to a loss of approximately RMB 5.382 billion in the same period of 2024 [1] - The expected profit is mainly attributed to non-cash gains from the completion of overseas debt restructuring [1] Market Conditions - Excluding the one-time gains from the debt restructuring, the company expects to report a loss attributable to shareholders during the period, primarily due to the ongoing adjustment in China's overall real estate market [1] - The decline in revenue and gross margin, along with increased impairment provisions for property projects, has negatively impacted the company's performance [1] - The performance of joint ventures and associates has also seen a decline, contributing to the expected losses [1]

消息面上，远洋集团发盈喜，预期集团于截至2025年6月30日止六个月将取得公司拥有人应占溢利约人 民币95.00亿元至人民币110.00亿元，而2024年同期则取得公司拥有人应占亏损约人民币53.82亿元。公 告指，预期溢利主要由于集团完成境外债务重组取得的非现金收益所致。撇除前述一次性境外债务重组 收益的影响后，集团预期将于本期间取得公司拥有人应占亏损，其主要归因于中国整体房地产市场近几 年的持续调整，导致营业额及毛利率下降，以及对物业项目计提的减值拨备增加；及分占合营企业和联 营公司的业绩下降。 远洋集团(03377)高开逾14%，截至发稿，涨14.16%，报0.129港元，成交额129.29万港元。 ...

Group 1: Hong Kong Stock Exchange Developments - Hong Kong Stock Exchange (HKEX) CEO Charles Li stated that HKEX will research a 24-hour trading mechanism, taking into account international experiences and local market conditions [1] - HKEX plans to enhance its competitiveness through strategic investments in data platform optimization and trading settlement system upgrades [1] - The exchange is also exploring shortening the settlement cycle for the cash market, with a potential T+1 settlement system supported by its technology by the end of this year [1] Group 2: Market Overview - The S&P 500 index fell for four consecutive days, with the index closing down 0.24% at 6395.78 points [2] - Major technology stocks mostly declined, with Intel dropping approximately 7% [2] - The Nasdaq China Golden Dragon Index rose by 0.33%, with notable gains from Tiger Brokers and JinkoSolar [2] Group 3: Financial Regulatory Updates - The National Financial Regulatory Administration is seeking public opinion on the draft of the "Commercial Bank M&A Loan Management Measures," which includes provisions for equity acquisition loans [3] Group 4: Federal Reserve Insights - The Federal Reserve's July meeting minutes indicated a moderate GDP growth in the first half of the year, with a focus on inflation risks over labor market concerns [4] - There was a notable dissent among Fed officials regarding interest rate decisions, marking a significant moment since 1993 [4] Group 5: Corporate Earnings Reports - Alibaba Group announced plans to spin off its subsidiary, Zhaima, for an independent listing on the Hong Kong Stock Exchange [5] - Baidu Group reported a total revenue of RMB 327.13 billion for Q2 2025, a year-on-year decrease of 4%, while net profit increased by 33% to RMB 73.22 billion [8] - Huazhu Group's total revenue for Q2 2025 was RMB 64.26 billion, with a net profit of RMB 15.44 billion, reflecting a 44.7% year-on-year increase [9] - China Oriental Group expects a net profit increase of no less than 70% for the first half of 2025, projecting at least RMB 2.20 billion [10] - Lijun Pharmaceutical reported a net profit of RMB 12.81 billion for the first half of 2025, a 9.4% increase year-on-year [11] - BOSS Zhipin reported a net profit of RMB 7.16 billion for Q2 2025, a 69.87% increase year-on-year [12] - New World Development reported a significant increase in net profit to HKD 887 million, a 1076% rise year-on-year [13] - Yimuyou Group expects a net profit of no less than RMB 2.6 billion for the first half of 2025, representing a growth of over 90% [14] - Yongsheng Medical reported a net profit of HKD 51.63 million, a 55.1% increase year-on-year [15] - Lepu Biopharma achieved a revenue increase of 249.59% for the first half of 2025, marking its first profit [16] - Huya Technology expects a net profit of USD 30 million to 38 million for the first half of 2025, a significant increase from the previous year [17] - Kingsoft reported a net profit of RMB 816 million for the first half of 2025, a 20.41% increase year-on-year [18] - Zhong An Online reported a net profit of RMB 668 million, a 1103.54% increase year-on-year [19] - Yaoshi Bang reported a net profit of RMB 78.12 million, a 258% increase year-on-year [20] - Crystal International reported a net profit of USD 98.27 million, a 17% increase year-on-year [21] - Ocean Group expects a turnaround with a projected net profit of RMB 9.5 billion to 11 billion for the first half of 2025 [22] - Kingsoft Cloud reported an adjusted EBITDA of approximately RMB 725 million, a 672.62% increase year-on-year [23] Group 6: Pharmaceutical Developments - Heyou Pharmaceutical's IND application for a combination therapy for NSCLC has been approved by the CDE [24] - Shengbela reported a net profit of RMB 327 million, marking a turnaround from a previous loss, with significant growth in various business segments [25]

Core Viewpoint - The company, Ocean Group (03377), anticipates a profit attributable to shareholders of approximately RMB 9.5 billion to RMB 11 billion for the six months ending June 30, 2025, compared to a loss of approximately RMB 5.382 billion in the same period of 2024 [1] Financial Performance - The expected profit is primarily due to non-cash gains from the completion of overseas debt restructuring [1] - Excluding the one-time gain from the debt restructuring, the company anticipates a loss attributable to shareholders for the period [1] Market Conditions - The overall real estate market in China has been undergoing continuous adjustments in recent years, leading to a decline in revenue and gross margin [1] - There has been an increase in impairment provisions for property projects due to the challenging market conditions [1] Joint Ventures Performance - The performance of joint ventures and associates has declined, contributing to the anticipated losses [1]

根据目前可获得的资料，本期间预期溢利主要由于集团完成境外债务重组取得的非现金收益所致。撇除 前述一次性境外债务重组收益的影响后，集团预期将于本期间取得公司拥有人应占亏损，其主要归因于 (i)中国整体房地产市场近几年的持续调整，导致营业额及毛利率下降，以及对物业项目计提的减值拨备 增加;及(ii)分占合营企业和联营公司的业绩下降。 智通财经APP讯，远洋集团(03377)发布公告，预期集团于截至2025年6月30日止六个月将取得公司拥有 人应占溢利约人民币95.00亿元至人民币110.00亿元，而2024年同期则取得公司拥有人应占亏损约人民币 53.82亿元。 ...