南京高科股份有限公司（以下简称"公司"）于 2023 年 5 月 25 日召开公司 2022 年年度股东大会，审议通过了《关于公司发行短期 融资券的议案》，同意公司向中国银行间市场交易商协会申请注册发 行不超过人民币 20 亿元（含 20 亿元）的短期融资券。2024 年 1 月 31 日，中国银行间市场交易商协会接受公司短期融资券注册。根据 中市协注[2024]CP26 号《接受注册通知书》，公司短期融资券注册金 额为 19 亿元，注册额度自通知书落款之日（2024 年 2 月 7 日）起 2 年内有效，公司在注册有效期内可分期发行短期融资券。 根据自身资金计划安排和银行间市场情况，公司于 2025 年 9 月 10 日-11 日在全国银行间市场发行了 2025 年度第一期短期融资券， 募集资金于 2025 年 9 月 12 日全额到账。发行结果如下： | 名称 | | 南京高科股份有限公司 | 2025 | 年度第一期短期融资券 | | --- | --- | --- | --- | --- | | 简称 | 25 | 南京高科 CP001 | 代码 | 042580479 | | 期限 | 364 | ...

Summary of Key Points Core Viewpoint - Nanjing Qixia Construction Co., Ltd. did not execute the previously announced share reduction plan during the specified period, resulting in no change in shareholding from Nanjing High-Tech [1] Group 1: Shareholding Information - As of the announcement date, Nanjing High-Tech holds 92.59308 million shares of Nanjing Qixia Construction, accounting for 8.818% of the total share capital [1] - The shares held by Nanjing High-Tech were acquired through various means, including 7.27924 million shares obtained before the IPO, 8.21076 million shares from a private placement, and 77.10308 million shares from other methods [1] Group 2: Reduction Plan Details - On May 22, 2025, Nanjing Qixia Construction disclosed a share reduction plan, stating that the maximum reduction would not exceed 3% [1] - The actual reduction during the period from June 13, 2025, to September 12, 2025, was 0 shares, with a reduction price range of 0 - 0 CNY per share, resulting in a total reduction amount of 0 CNY and a reduction ratio of 0% [1] - The completion status of the reduction plan indicates that while the plan period has ended, no shares were reduced, and the minimum reduction quantity or ratio was not set in the plan [1]

Core Points - Nanjing Gaoke Co., Ltd., a shareholder holding more than 5%, planned to reduce its stake in Qixia Construction by up to 3% between June 13, 2025, and September 12, 2025 [1] - As of September 12, 2025, the planned reduction has not been executed, with a reduction quantity of 0 shares and a reduction ratio of 0% [1] - The current holding of Nanjing Gaoke Co., Ltd. stands at 92.5931 million shares, representing 8.818% of the total shares [1]

Core Viewpoint - The recent announcement from Xinyuan Fund Management regarding the resignation of Vice President Wang Hui has attracted significant market attention, indicating potential shifts in the company's management and strategy [1][5]. Company Overview - Xinyuan Fund Management is a bank-affiliated public fund company, with Nanjing Bank holding an 80% stake and Nanjing Gaoke holding 20% [5]. - The company currently manages 89 public fund products with a total management scale of 213.56 billion yuan, ranking 36th in the market [5]. Management Changes - Wang Hui, who joined Xinyuan Fund in August 2013 and has served as Vice President since 2016, will transition to a senior specialist role due to nearing retirement [3][4]. - The executive team will consist of six members post-adjustment, with three having backgrounds in Nanjing Bank and the other three possessing extensive experience in banking, public funds, and accounting firms [4]. Financial Performance - In the first half of 2025, Xinyuan Fund reported revenue of 356 million yuan, a year-on-year increase of 17.47%, and a net profit of 107 million yuan, up 18.99%, placing these figures in the top 25 among public funds [5]. - The fund's asset allocation is heavily weighted towards money market and bond funds, which together account for 97% of its total scale, amounting to 208.5 billion yuan [5]. Market Position and Strategy - Xinyuan Fund's strategy involves enhancing its equity product offerings, as the current market trend shows a lower proportion of equity products compared to competitors [6][7]. - The company aims to optimize its investment research team and improve asset allocation capabilities, focusing on aligning with national strategies and customer needs [6][7]. Product Development - Xinyuan Fund has seen significant growth in several actively managed equity funds, with some achieving returns exceeding 20% year-to-date [7]. - The company is also expanding its index product line, which includes various types of funds, and is preparing to launch its first ETF product [7].

Core Viewpoint - Nanjing Gaoke achieved a net profit attributable to shareholders of 1.381 billion yuan in the first half of the year, representing a year-on-year increase of 35.04% [1] - The company reported a non-recurring net profit of 1.352 billion yuan, up 22.52% year-on-year [1] Financial Performance - In 2025, the real estate business achieved a contracted sales area of 68,500 square meters, which includes 42,100 square meters from commercial housing projects and 26,400 square meters from affordable housing projects, marking a year-on-year increase of 2,437.04% [1] - The contracted sales amount reached 1.021 billion yuan, with 921 million yuan from residential and parking space projects and 100 million yuan from affordable housing projects, reflecting a year-on-year increase of 729.83% [1] - The company's operating revenue and net profit attributable to shareholders both grew year-on-year, maintaining profit forecasts [1] Investment Outlook - The company is recognized as a deeply rooted enterprise in the Nanjing region, with smooth financing channels, indicating a potential for continued performance improvement [1] - The report maintains a "buy" rating for the company's stock [1]

Investment Rating - The investment rating for Nanjing Gaoke is maintained at "Buy" [10][15] Core Insights - The company has achieved a significant increase in total operating revenue and net profit attributable to the parent company, with a year-on-year revenue growth of 87.39% and a net profit growth of 35.04% for the first half of 2025 [6][8] - The company is expected to maintain its profit forecast, with projected net profits of 2.21 billion, 2.44 billion, and 2.56 billion yuan for 2025 to 2027, respectively [5][6] - The company has successfully advanced its equity investment projects, with investment income reaching 1.258 billion yuan, a year-on-year increase of 19.01% [8] Financial Performance Summary - In the first half of 2025, the company reported total operating revenue of 1.96 billion yuan, with a net profit of 1.381 billion yuan and a non-recurring net profit of 1.352 billion yuan [6] - The gross profit margin and net profit margin were recorded at 22.53% and 71.30%, respectively, with the gross profit margin increasing by 5.61 percentage points [6] - The company's asset-liability ratio stood at 47.92%, with a current ratio of 1.26 and a quick ratio of 0.48 [6] Real Estate Business Performance - The real estate business achieved a contract sales area of 68,500 square meters, a year-on-year increase of 2437.04%, and a contract sales amount of 1.021 billion yuan, up 729.83% [7] - The revenue from real estate development and sales reached 1.38 billion yuan, reflecting a year-on-year increase of 211.32% [7] Equity Investment Progress - The company has made new investments in two projects and additional investments in another, with the average financing cost decreasing to 2.53%, down by 0.28 percentage points from the previous year [8]

Core Viewpoint - Nanjing Gaoke (600064) reported significant growth in both revenue and net profit for the first half of 2025, indicating strong financial performance and operational efficiency [1] Financial Performance - Total revenue reached 1.96 billion yuan, a year-on-year increase of 87.39% [1] - Net profit attributable to shareholders was 1.381 billion yuan, up 35.04% year-on-year [1] - In Q2 2025, revenue was 899 million yuan, reflecting a 17.92% increase compared to the same quarter last year [1] - Q2 net profit was 689 million yuan, showing a 38.65% year-on-year growth [1] Profitability Metrics - Gross margin improved to 22.53%, an increase of 33.18% year-on-year [1] - Net margin decreased to 71.3%, down 27.71% year-on-year [1] - Total selling, administrative, and financial expenses amounted to 268 million yuan, accounting for 13.69% of revenue, a decrease of 18.94% year-on-year [1] Shareholder Value - Earnings per share (EPS) increased to 0.8 yuan, a rise of 35.03% year-on-year [1] - Book value per share was 10.89 yuan, up 3.43% year-on-year [1] - Operating cash flow per share reached 0.32 yuan, a significant increase of 192.15% year-on-year [1] Investment Insights - The company's return on invested capital (ROIC) was 6.74%, indicating average capital returns [3] - The net profit margin was reported at 83.09%, suggesting high value addition in products or services [3] - The company has a healthy cash position, with cash assets being robust [3] Fund Holdings - The largest fund holding Nanjing Gaoke shares is the Fortune CSI Dividend Index Enhanced A, with 10.7837 million shares [4] - Other funds have also entered the top ten holdings, indicating growing interest in the company [4]

Group 1 - The real estate sector showed strong performance at the beginning of the trading session, with *ST Nanzhi hitting the daily limit up [1] - Other companies such as Wantong Development, Zhangjiang Hi-Tech, Nanjing High-Tech, Tianbao Infrastructure, and Tongji Science and Technology also experienced gains [1]

Group 1 - The core viewpoint of the article highlights the significant growth in Nanjing Gaoke's financial performance for the first half of 2025, with a notable increase in both revenue and net profit [1] - Nanjing Gaoke reported an operating income of approximately 1.957 billion yuan, representing a year-on-year increase of 87.5% [1] - The net profit attributable to shareholders was around 1.381 billion yuan, showing a year-on-year growth of 35.04% [1] - The basic earnings per share reached 0.798 yuan, which is a 35.03% increase compared to the previous year [1] Group 2 - As of the report, Nanjing Gaoke's market capitalization stands at 13.7 billion yuan [2]

证券简称：南京高科 证券代码：600064 编号：临2025-023号 南京高科股份有限公司 关于召开2025年半年度业绩说明会的公告 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个别及连带责任。 重要内容提示： 投资者可于 2025 年 9 月 9 日（星期二）前通过"南京高科投资者关系" 小程序或者公司邮箱 600064@600064.com 联系公司进行提问。公司将在业绩说 明会上对投资者普遍关注的问题进行回答。 一、说明会类型 公司已于 2025 年 8 月 29 日在《中国证券报》《上海证券报》《证 券时报》及上海证券交易所网站（www.sse.com.cn）上披露了 2025 年半年度报告及摘要。为让广大投资者更全面深入地了解公司经营业 绩等具体情况，公司决定以网络互动方式举行 2025 年半年度业绩说 明会。 三、公司出席说明会的人员 公司董事长、党委书记徐益民先生，董事、总裁陆阳俊先生，独 二、说明会召开时间和形式 召开时间：2025 年 9 月 10 日（星期三）15:00-16:00 召开地址： "南京高科投资者关 ...