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。 证券代码：600048 证券简称：保利发展 公告编号：2025-060 保利发展控股集团股份有限公司 关于召开2025年第三次临时股东大会的通知 重要内容提示： 股东大会召开日期：2025年7月1日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票系统 一、召开会议的基本情况 (一)股东大会类型和届次 2025年第三次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 7 月 1 日 14 点 30 分 召开地点：广州市海珠区阅江中路 832 号保利发展广场 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 7 月 1 日 至2025 年 7 月 1 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 ...

证券代码：600048 证券简称：保利发展 公告编号：2025-058 第七届监事会第十二次会议决议公告 本公司监事会及全体监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。 保利发展控股集团股份有限公司（以下简称"公司"）第七届监事会第十二 次会议于 2025 年 6 月 13 日以通讯表决方式召开，会议召集人为公司监事会主席 孔峻峰先生，会议应参加表决监事三名，实际参加表决监事三名。会议的召集和 召开符合《中华人民共和国公司法》《中华人民共和国证券法》及《公司章程》 的有关规定，会议审议通过了以下议案： 一、监事会以 3 票同意、0 票反对、0 票弃权通过《关于 2024 年度利润分 配预案的议案》。 同意公司以实施权益分派股权登记日的总股本扣减公司回购专用证券账户 的股数为基数，每 10 股派发现金红利 1.70 元（含税），且不进行资本公积金转 增股本。如在本议案审议通过之日至实施权益分派股权登记日期间，公司总股本 或公司回购专用证券账户的股数发生变动的，拟维持每股分配金额不变，相应调 整分配总额。 上述利润分配方案符合《公司章程》《分红管 ...

证券代码：600048 证券简称：保利发展 公告编号：2025-057 2025 年第 7 次临时董事会决议公告 一、董事会以 9 票同意、0 票反对、0 票弃权通过《关于 2024 年度利润分 配预案的议案》。 同意公司以实施权益分派股权登记日的总股本扣减公司回购专用证券账户 的股数为基数，每 10 股派发现金红利 1.70 元（含税），且不进行资本公积金转 增股本。如在本议案审议通过之日至实施权益分派股权登记日期间，公司总股本 或公司回购专用证券账户的股数发生变动的，拟维持每股分配金额不变，相应调 整分配总额。 具体内容详见同日披露的《保利发展控股集团股份有限公司关于 2024 年度 利润分配方案的公告》（公告编号 2025-059）。 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。 保利发展控股集团股份有限公司（以下简称"公司"）2025 年第 7 次临时 董事会于 2025 年 6 月 13 日以通讯表决方式召开，会议召集人为公司董事长刘平 先生，会议应参加表决董事九名，实际参加表决董事九名。会议的召集和召开符 合《中 ...

证券代码：600048 证券简称：保利发展 公告编号：2025-059 关于 2024 年度利润分配方案的公告 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： 每股分配比例：每股派发现金红利 0.17 元（含税）。 本次利润分配拟以实施权益分派股权登记日的总股本扣减公司回购专用证券 账户的股数为基数，股权登记日具体日期将在权益分派实施公告中明确。 如在董事会审议通过该利润分配方案之日起至实施权益分派股权登记日期间， 公司总股本或公司回购专用证券账户的股数发生变动的，拟维持每股分配金额不变， 相应调整分配总额，并将另行公告具体调整情况。 本次利润分配方案尚需提交公司股东大会审议。 二、公司履行的决策程序 （一）董事会会议的召开、审议和表决情况 公司不触及《上海证券交易所股票上市规则》第 9.8.1 条第一款第（八）项规 定的可能被实施其他风险警示的情形。 一、利润分配方案内容 （一）利润分配方案的具体内容 经立信会计师事务所（特殊普通合伙）审计，截至 2024 年 12 月 31 日，保利发展 控股集团股份有限公 ...

Market Overview - The real estate market experienced a "red May" with noticeable differentiation in performance across cities, particularly in hotspots like Shanghai, Beijing, and Guangzhou [1][2] - In May, the new housing transaction area in 30 key cities was 10.58 million square meters, a month-on-month decrease of 2% and a year-on-year decrease of 9% [1][4] - The sales revenue of the top 100 real estate companies fell by 17.3% year-on-year in May, with a slight increase in the rate of decline compared to April [1][7] City-Specific Performance - Shanghai saw a significant increase in new housing transactions, with 620,000 square meters sold in May, representing a 20% month-on-month increase and a 24% year-on-year increase [2] - Guangzhou's new housing sales reached 6,572 units in May, marking a 32% month-on-month increase and a 26% year-on-year increase [2] - In Beijing, new housing transactions totaled 3,917 units in May, reflecting a 14% month-on-month increase and a 38% year-on-year increase [2] Differentiation in Sales - The market showed clear differentiation, with some core areas in Shenzhen achieving a project sell-through rate exceeding 80%, while non-core areas struggled with rates below 50% [3][4] - The average sell-through rate for new projects in 30 key cities was 39% in May, up 1% month-on-month and 12% year-on-year, indicating a stable market trend [4] Company Performance - Major real estate companies are under pressure, with many launching new products to boost sales amid declining overall performance [1][8] - Poly Developments achieved a sales revenue of 28.512 billion yuan in May, a 15.8% month-on-month increase but a 19.3% year-on-year decrease [7] - Greentown China reported a sales revenue of 25.5 billion yuan in May, with a 37.1% month-on-month increase and a 9.4% year-on-year increase [7] Strategic Adjustments - Companies are focusing on high-quality products that meet the "good housing" standards, with a shift towards fourth-generation residential projects [6][8] - Developers are utilizing strategies such as significant discounts and enhanced marketing efforts to drive sales in weaker second and third-tier cities [6][8] - The supply structure in June is expected to focus more on improvement-type housing, with a balanced approach to meeting both demand and performance targets [9]

Group 1: Core Views - The real estate market is showing signs of stabilization, with policies aimed at maintaining a steady market expected to continue throughout the year [2][9] - The central government has set a tone for real estate policies to stabilize the market through urban renewal and the release of rigid and improvement demands [11][12] - The demand side is seeing policy adjustments to stimulate housing demand, including optimizing housing fund loan policies and increasing purchase subsidies [15][16] Group 2: Property Sector Insights - The property service sector is stabilizing, with a slowdown in management scale growth and stable property fee changes [3][6] - The financial performance of property services shows a prominent increase in revenue without a corresponding increase in profit, indicating a trend towards reliance on the parent company [3][6] Group 3: REITs and Investment Opportunities - The REITs sector is expanding rapidly, with a stable performance in consumer and affordable housing categories [4][6] - The issuance of special bonds for land acquisition is accelerating, with significant planned investments in idle land across various provinces [18][19] - The city village renovation policies are being implemented successfully, with several cities exploring or launching housing voucher policies for urban renewal [21][22] Group 4: Supply Side Developments - The standards for "good housing" are becoming clearer, with over 30 provinces and cities introducing new construction standards aimed at improving housing quality [23][24] - The Ministry of Housing and Urban-Rural Development has released guidelines focusing on the construction of high-quality residential projects [23][24] Group 5: Sales Trends - New home sales are expected to see a narrowing year-on-year decline, while the enthusiasm for second-hand homes is likely to persist [27][28] - The sales performance of top developers shows a concentration of sales among leading companies, with a slight year-on-year decrease in core city sales [32][34] - The market is experiencing significant polarization, with varying de-stocking effects across major cities [37][41] Group 6: Land Market Dynamics - The concentration of land sales in core cities is increasing, indicating a sustained interest from developers in acquiring land [45][46] - The land transaction volumes and prices in major cities like Beijing, Shanghai, and Guangzhou reflect a competitive land market [49][52]

Core Insights - The real estate market in Guangzhou is showing signs of recovery, with strong product offerings and new regulations supporting market activity [1] - In May, the average transaction price for residential properties in Guangzhou reached 36,023 yuan/m², a month-on-month increase of 10.7%, marking the highest monthly price this year [1] - The Tianhe District recorded an average transaction price of 81,672 yuan/m², up 18% month-on-month, while Haizhu District followed closely with 72,630 yuan/m², up 16% [1] Group 1: Project Performance - Poly Tianyi achieved 176 units sold and a transaction value of 2.167 billion yuan in its first month, leading in both sales volume and value in Guangzhou's residential market for May [1] - The project features a 2,500 m² clubhouse that is already operational, differing from the common practice of selling properties before constructing amenities [2] Group 2: Design and Amenities - Poly Tianyi's design includes a full south-facing layout and a pure flat-panel structure, which is rare among luxury properties priced over 100,000 yuan/m² in Guangzhou [1] - The project incorporates high-end amenities such as a temperature-controlled swimming pool, a badminton court, and a basketball court, which are not typically found in most luxury developments [2] - The interior design emphasizes large windows and open spaces, utilizing soft curves in architecture and decor to create a warm living environment [2] Group 3: Market Impact and Infrastructure - The project has received attention for its commitment to enhancing surrounding infrastructure, including bridge and road construction, as well as the introduction of quality educational and commercial resources [2]

Core Viewpoint - The luxury real estate market in Shanghai is experiencing significant demand, with projects like Poly Shibo Tianyue becoming focal points due to their high prices and limited availability [1][2][3]. Group 1: Project Highlights - Poly Shibo Tianyue has launched its seventh batch of properties, with a record-breaking unit price of approximately 30.27 million yuan per square meter, totaling 72.9 million yuan for a top-floor unit [1][3]. - The project has achieved sales exceeding 20 billion yuan within a year of its opening, indicating strong market performance [1][6]. - The project features a limited number of dual-view riverfront units, all of which have been sold out, highlighting their scarcity and desirability [5][6]. Group 2: Market Trends - The luxury market in Shanghai has seen a surge in high-value transactions, with 915 new homes sold for over 30 million yuan in the first five months of 2025, nearing the total sales of 2021-2023 [7][9]. - In May, several high-end projects, including Greentown Chaoming Dongfang and Shanghai No. 1 Courtyard, achieved remarkable sales, with some units selling out on the first day [7][8]. - The overall new housing supply in Shanghai increased significantly in May, with a 44.31% rise in supply area and a 48.66% increase in transaction value compared to the previous month [9]. Group 3: Market Dynamics - Analysts attribute the robust performance of the luxury market to favorable policies such as interest rate cuts and the introduction of high-quality products that meet the demand for improved housing [2][9]. - The demand for large, high-quality units in prime locations is driving the market, with developers accelerating their sales strategies to capitalize on the current demand [2][7].

一场以"人生得奕须尽欢"为主题的盛会近日在上海保利天奕示范区开启。这不仅是一场产品发布会，更是保利发展对时代"好房子"命题的深度作 答，标志着天系全新力作——保利天奕携"新奢松弛生活体系"正式登临上海，开启人居新奢松弛主义的新篇章。 作为天系产品的全新迭代，保利天奕以"新派国际、新潮艺术、新睿智享、新感松弛"为核心基因，将"酒店式度假"理念具象化为可感可知的生活 场景，并携手gad、JTL、UHOUSE、PURE DESIGN四大全球顶尖设计力量共创。 天奕萃取希腊One&Only唯逸度假村、巴厘岛Alila Villas Soori 苏瑞阿丽拉酒店等国际顶奢度假酒店的"松弛、无界、舒适"灵感，构建了一个疗愈 身心、引领审美、且链接同频人群的理想生活容器，屹立一座时代灯塔的精神坐标。 在用地边界上，天奕进行红线内外一体化开发打造，在城市与社区之间营造一条半开放公园界面，消融了社区封闭和冰冷感，让城市在此温柔转 场。温暖的流光序厅、闪耀的光彩会客厅、沉静的下沉庭院，天奕设置了3大情绪转化点，打造融汇艺术的度假酒店式归家礼仪。 公区灵感源自于希腊One&Only唯逸度假村。"缪斯之舞美学大门"的弧形圆润门头设计， ...

Group 1: Overview of Market Trends - The performance of the Shanghai Composite Index and the ChiNext Index over the past year shows significant fluctuations, with the ChiNext Index experiencing a decline of 32% [2][3] - The top five performing industries recently include Beauty Care, Banking, and Pharmaceutical Biotechnology, while the bottom five include Defense, Computer, and Electronic sectors [3][4] Group 2: Company Insights - Meitu Inc. (01357.HK) - Meitu is positioned as a leader in the visual economy, leveraging AI to accelerate commercialization, with projected revenues of 4.14 billion, 4.99 billion, and 5.82 billion yuan for 2025-2027, reflecting growth rates of 23.8%, 20.6%, and 16.6% respectively [6][7] - The company has a large user base and is expanding its product offerings, with a monthly active user count of 266 million as of December 2024, showing a year-on-year growth of 6.7% [7][8] - Meitu's strategy focuses on enhancing AI capabilities, global expansion, and productivity, with a projected increase in paid user penetration rates [8] Group 3: Company Insights - Greentown China Holdings Limited (03900.HK) - Greentown China reported a growth in monthly sales, with a total sales amount of 186 billion yuan in May 2025, marking a year-on-year increase of 14.8% [9][11] - The company maintains a strong land acquisition strategy, with a total of 30 new land plots acquired in the first five months of 2025, reflecting a land acquisition intensity of 84% [11][12] - Profit forecasts for 2025-2027 are set at 3.33 billion, 4.54 billion, and 5.43 billion yuan, with corresponding EPS of 1.31, 1.79, and 2.14 yuan [9][11] Group 4: Company Insights - Poly Developments and Holdings Group Co., Ltd. (600048.SH) - Poly Developments remains the top-ranked company in the industry despite a decline in sales amount and area in May 2025, with a signed sales amount of 285.12 billion yuan, down 19.26% year-on-year [14][15] - The company has a strong focus on high-tier cities, with over 90% of land acquisitions occurring in first and second-tier cities [14][16] - Profit forecasts for 2025-2027 are estimated at 5.68 billion, 6.56 billion, and 7.51 billion yuan, with corresponding PE ratios of 17.2, 14.9, and 13.0 [14][15] Group 5: Company Insights - Fangsheng Pharmaceutical Co., Ltd. (603998.SH) - Fangsheng Pharmaceutical's newly approved product, a traditional Chinese medicine for tension-type headaches, is expected to enhance its performance in the cardiovascular sector, with profit forecasts of 308 million, 378 million, and 457 million yuan for 2025-2027 [18][19] - The prevalence of tension-type headaches presents a significant market opportunity, as they account for a large percentage of primary headache cases [19][20] Group 6: Company Insights - Zai Lab Limited (09688.HK) - Zai Lab is adopting a dual strategy of "License-in + Independent R&D" to build a differentiated product pipeline, with expected revenues of 567 million, 830 million, and 1.226 billion USD for 2025-2027 [22][23] - The company anticipates significant growth from its lead product, with multiple key products expected to submit NDA applications in 2025 [22][23]