本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、本次无偿划转基本情况 近日，保利发展控股集团股份有限公司（以下简称"公司"）收到保利集团 发来《关于国有股份无偿划转的告知函》，经保利集团作为国家出资企业审批通 过，保利集团与保利南方于2025年10月9日签订了《国有股权无偿划转协议》（以 下简称"《无偿划转协议》"），保利集团拟将其全资子公司保利南方持有的本 公司4,511,874,673股股份（占本公司总股本的37.69%）无偿划转至保利集团。 本次无偿划转前，保利集团直接持有本公司股份363,067,789股（占本公司 总股本的3.03%），通过其全资子公司保利南方持有本公司股份4,511,874,673 本公司控股股东保利南方集团有限公司（以下简称"保利南方"）拟将其持 有的本公司4,511,874,673股股份全部无偿划转至中国保利集团有限公司 （以下简称"保利集团"）； 保利南方为保利集团的全资子公司，属于《上市公司收购管理办法》规定的 一致行动人，本次股份划转为在同一实际控制人控制的主体之间进行 ...

免于发出要约事宜 北京德恒律师事务所 关于中国保利集团有限公司 关于中国保利集团有限公司免于发出要约事宜 的法律意见 德恒 01F20251116-01 号 致：中国保利集团有限公司 根据本所与中国保利集团有限公司（以下简称"保利集团"或"收购人"） 签订的《专项法律咨询服务合同》，本所为保利南方集团有限公司（以下简称"保 利南方"）将其所持有的保利发展控股集团股份有限公司（以下简称"保利发展" 或"上市公司"）37.6918%股份无偿划转给保利集团事宜（以下简称"本次收购"） 提供专项法律服务。根据《中华人民共和国证券法》（以下简称"《证券法》"）、 的法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于中国保利集团有限公司 免于发出要约事宜的法律意见 北京德恒律师事务所 《上市公司收购管理办法》（以下简称"《收购管理办法》"）等有关法律、法 规和规范性文件的规定，本所对本次收购的相关事宜进行核查验证并出具本法律 意见。 对本所出具的本法律意见，特作如下声明： 1. 在保利集团保证其为本 ...

北京德恒律师事务所 关于保利发展控股集团股份有限公司 2025 年第四次临时股东大会的 法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于保利发展控股集团股份有限公司 2025 年第四次临时股东大会的法律意见 北京德恒律师事务所 关于保利发展控股集团股份有限公司 2025 年第四次临时股东大会的 法律意见 德恒 01G20240039-12 号 致：保利发展控股集团股份有限公司 保利发展控股集团股份有限公司（以下简称"公司"）2025 年第四次临时 股东大会（以下简称"本次会议"）于 2025 年 10 月 9 日（星期四）召开。北京 德恒律师事务所（以下简称"德恒"）受公司委托，指派本所律师（以下简称"德 恒律师"），根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华 人民共和国公司法》（以下简称"《公司法》"）、中国证券监督管理委员会《上 市公司股东会规则》（以下简称"《股东会规则》"）、《保利发展控股集团股份 有限公司章程》（以下简称"《公司章程》"）的规定，就本次会议 ...

证券代码：600048 证券简称：保利发展 公告编号：2025-085 保利发展控股集团股份有限公司 2025年第四次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2025 年 10 月 9 日 (二)股东大会召开的地点：广州市海珠区阅江中路 832 号保利发展广场会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 2,340 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 5,277,124,416 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份总数的比例（%） | 44.4749 | 注：上表中公司有表决权股份总数不含公司回购账户所持 105,031,578 股。 (四)表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况等。 本次股东大会由董事会召集，公司董事长刘平先生因工作 ...

Group 1 - The rental and sales rights concept declined by 1.52%, ranking among the top declines in the concept sector, with stocks like Zhangjiang Hi-Tech and Huangting International hitting the limit down [1] - Among the stocks in the rental and sales rights concept, Hefei Urban Construction, Shoukai Co., and Shibei High-tech saw increases of 7.31%, 5.75%, and 3.52% respectively [1] - The rental and sales rights concept experienced a net outflow of 955 million yuan, with 20 stocks seeing net outflows, and 10 stocks with outflows exceeding 10 million yuan [2] Group 2 - The top net outflow stock was Zhangjiang Hi-Tech, with a net outflow of 507 million yuan, followed by Vanke A, Shoukai Co., and Poly Development with net outflows of 212 million yuan, 120 million yuan, and 110 million yuan respectively [2] - The stocks with the highest net inflow in the rental and sales rights concept included Hefei Urban Construction, Shibei High-tech, and China Merchants Shekou, with net inflows of 107 million yuan, 38.63 million yuan, and 18.48 million yuan respectively [2][3] - The rental and sales rights concept saw significant declines in several stocks, with Zhangjiang Hi-Tech down by 9.99%, Huangting International down by 9.92%, and Tianfu Cultural Tourism down by 6.55% [2][3]

Core Insights - The Guangzhou South Avenue Phase II land plot was publicly auctioned on October 9, with China Overseas Land & Investment winning the bid at a total price of 920 million yuan, reflecting a premium rate of 6.98% and a floor price of approximately 15,285 yuan/m² [1] - The land plot is strategically located near major roads and commercial areas, with a total area of 34,177.93 m², including residential, commercial, and service facilities [1] - The floor price of the Phase II plot is significantly lower than the Phase I plot sold three years ago, which was priced at 48,395 yuan/m², indicating a notable change in market conditions [1] Market Analysis - According to industry analyst Xiao Wenxiao from CRIC, the floor price of the Phase II plot aligns with the current market conditions in the Haizhu District, where the average transaction price for new residential properties has decreased from 87,601 yuan/m² in 2022 to 67,414 yuan/m² in the first three quarters of this year, a drop of nearly 20,000 yuan/m² [2] - In the first nine months of this year, Guangzhou has completed 22 residential land transactions, totaling a construction area of 1.1663 million m² and a total transaction value of approximately 21.2 billion yuan, indicating a significant increase in the number of land transactions compared to 15 transactions in the same period last year [2]

Group 1 - China Overseas Land & Investment (中海) acquired the Guangzhou Avenue South Phase II land parcel for 920 million yuan, with a nominal floor price of approximately 15,285 yuan per square meter and a premium rate of 7% [1] - The total land area is about 34,200 square meters, with a total construction area of approximately 60,000 square meters and a plot ratio of 2.9 [1] - This is the first land acquisition by China Overseas in the public market of Guangzhou for 2025 [1] Group 2 - The land parcel requires the construction of 33,079 square meters of commercial space, 2,700 square meters of service facilities, and a 9-class kindergarten, resulting in an effective residential floor price exceeding 40,000 yuan per square meter [3] - The location is strategically positioned near major roads and metro lines, making it a prime area within the Kecun business district [3] - The surrounding area has challenges, including urban villages and traffic congestion during peak hours [5] Group 3 - The land auction attracted attention due to the competition between China Overseas and Poly Real Estate, with only these two state-owned enterprises participating [5] - The previous land auction in 2022 saw Poly win against China Overseas, making this acquisition a significant comeback for China Overseas [5] - The starting price of the land appeared lower, but the high requirements for additional construction and low residential proportion will test the developers' comprehensive development capabilities and financial strength [5]

克而瑞数据显示，2025年9月，TOP100房企单月实现操盘口径销售金额2528亿元，同比增长0.4%，环比 增长22.2%。 从企业表现来看，9月百强房企中有72家房企单月业绩环比增长，其中45家企业单月业绩环比增幅大于 30%，包括华润置地、建发房产、中国铁建、电建地产、邦泰集团、中建东孚等。即使是头部阵营， TOP10房企中也有7家销售操盘金额环比上升。 "9月百强房企销售额环比正增长，主要受季节性因素、核心城市限购政策放松以及房企新规产品加推等 因素的带动，由于上年同期基数较低，同比也实现了正增长。"国盛证券分析师金晶表示。 累计业绩方面，据中指院统计，2025年1-9月，TOP100房企销售总额为26065.9亿元，同比下降12.2%， 降幅较1-8月收窄1.1个百分点，回暖态势初显。 不过，头部房企规模分化仍较明显，销售额突破千亿的房企仅6家，与去年同期持平；销售额突破两千 亿的房企仅1家。 具体排名上，保利发展以2017亿元销售额稳居行业第一，绿城中国、中海地产紧随其后，销售额分别为 1785亿元和1705亿元，华润置地、招商蛇口、万科分别以1544亿元、1406.6亿元、1002.9亿元位列第 ...

9 月销售降幅收窄,优质房企逆势增长 顾铮 A0230125070004 quzheng@swsresearch.com 联系人 顾铮 (8621)23297818× quzheng@swsresearch.com 申万宏源研究微信服务号 2025 年 9 月房企销售数据点评 事件: 9 月 30 日，克而瑞发布 2025 年 9 月房地产公司销售排行，保利单月销售排名第一，实现销售金 额 205 亿元，中海、华润单月销售额分别为 202、176 亿元，排名第二、三位，前三门槛从去年同 期 169 亿元提升至 176 亿元。9 月单月销售过百亿房企为 6 家，较 2024 年同期持平。 点评: 若研究院 证券分析师 袁豪 A0230520120001 yuanhao@swsresearch.com 研究支持 请务必仔细阅读正文之后的各项信息披露与声明 2025 年 10 月 08 日 9 月房企销售额单月同比-10%/累计同比-17%，分别较前值+3.4pct/+0.8pct，降幅收窄。根据 克而瑞数据，2025年９月，50 家房企单月销售金额 1,802 亿元，同比-10%，较前值+3.4pct; 销 售面 ...

Investment Rating - The report does not explicitly state an investment rating for the real estate industry in Shanghai for the period of January to August 2025 Core Insights - The Shanghai real estate market experienced a sales downturn in August 2025, attributed to insufficient new supply and significant pressure on inventory in outer districts. However, recent policy adjustments aimed at optimizing housing purchase restrictions and increasing support for housing loans are expected to stabilize market expectations and promote recovery [3][24] - The top 20 real estate companies in Shanghai achieved a total sales performance of 277.79 billion yuan, with 12 companies surpassing 10 billion yuan in sales [5][6] - The leading companies by sales amount were Poly Developments (31.07 billion yuan), China Merchants Shekou (29.87 billion yuan), and China Resources Land (26.17 billion yuan) [4][7] Summary by Sections Sales Performance - In the first eight months of 2025, the top 20 real estate companies in Shanghai collectively recorded sales of 277.79 billion yuan and a sales area of 3.879 million square meters [5][6] - The top three companies by sales amount were Poly Developments (31.07 billion yuan), China Merchants Shekou (29.87 billion yuan), and China Resources Land (26.17 billion yuan) [4][7] - The top three companies by sales area were China Merchants Shekou (511,000 square meters), Poly Developments (421,000 square meters), and China Resources Land (309,000 square meters) [4][7] Residential Market - The total sales amount for the top 10 residential projects in Shanghai reached 82.36 billion yuan, with the threshold for inclusion set at 4.77 billion yuan [9] - The leading residential project was Shanghai One No. 1, with sales amounting to 18.42 billion yuan [9][10] - The total sales area for the top 10 residential projects was 726,000 square meters, with Shanghai One No. 1 again leading with 100,000 square meters [11] Market Outlook - The recent policy adjustments in Shanghai are expected to significantly alleviate the sales pressure in outer districts, benefiting companies operating in these areas. Real estate firms are encouraged to leverage this policy window to enhance marketing efforts [24]