厦门建发股份有限公司 2025 年第一次临时股东会会议资料目录 | 序号 | 内容 | 页码 | | --- | --- | --- | | 1 | 《关于提名公司第十届董事会董事候选人的议案》 | 4 | 2 厦门建发股份有限公司 2025 年第一次临时股东会现场会议议程 厦门建发股份有限公司 2025 年第一次临时股东会 会议资料 1 会议地点：厦门市思明区环岛东路 1699 号建发国际大厦附楼 6 层 2 号会 议室 主 持 人：董事长林茂先生 见证律师所：福建天衡联合律师事务所 会议议程： 一、董事长主持会议，介绍会议有关情况，宣布会议开始。 二、提请股东会审议《关于提名公司第十届董事会董事候选人的议案》。 三、股东发言。 会议时间：2025 年 6 月 3 日下午 14:40 八、休会，工作人员统计现场表决票，将现场表决结果报送上证所信息网 络有限公司；上证所信息网络有限公司汇总统计现场及网络投票的表决结果。 九、复会，监票人代表宣布表决结果。 十、见证律师宣读现场会议见证意见。 十一、主持人宣读股东会决议。 十二、主持人宣布会议结束。 3 四、公司董秘宣读现场表决办法，介绍现场计票人和现场监票人。 ...

Investment Rating - The report maintains a "Buy" rating for the real estate development and service sectors [6]. Core Insights - The current evolution of the housing sales system in China is expected to progress gradually, with a focus on pilot programs starting in lower-tier cities. The emphasis is on stabilizing the market through incremental policies rather than abrupt changes [4][5]. - The discussions surrounding the housing sales system have shifted from short-term measures aimed at cooling the market to long-term reforms aimed at establishing a new development model for the real estate sector [3][4]. - The report highlights the importance of supportive policies to ensure the successful implementation of the housing sales system, particularly in the context of stabilizing the market [5]. Summary by Sections Housing Sales System Evolution - The housing sales system is being pushed forward with pilot programs, particularly in lower-tier cities, to minimize market disruption [4]. - The focus is on new land sales being tied to immediate housing sales, with existing projects facing stricter pre-sale regulations [2][3]. Market Stability and Policy Support - The report emphasizes the need for additional policies to stabilize the market and support the "stop the decline and stabilize" goal [5]. - It suggests that the real estate sector is currently in a phase where more incremental and supportive measures are necessary to ensure a smooth transition to the new sales system [4][5]. Recommended Companies - The report recommends several companies for investment, including: - A-share developers: Chengdu Investment Holdings, Chengjian Development, Binjiang Group, New Town Holdings, China Merchants Shekou, and Jianfa Co [9][11]. - Hong Kong-listed developers: China Resources Land, China Overseas Development, Greentown China, Jianfa International Group, and Yuexiu Property [9][11]. - Property management companies: China Resources Mixc Life, Greentown Service, China Overseas Property, China Merchants Jinling, Poly Property, and Binjiang Service [9][11]. Financial Performance and Projections - The report provides financial forecasts for the recommended companies, indicating expected earnings per share (EPS) growth and target prices for each [12][13][14]. - For instance, Chengdu Investment Holdings is projected to have an EPS of 0.23 in 2025, with a target price of 6.34 [12]. Conclusion - The report concludes that while the housing sales system is evolving, the focus should remain on stabilizing the market through supportive policies and careful implementation of new regulations [5].

【1】信阳：新出让土地开发商品房一律现房销售 5月13日，河南信阳市住房和城乡建设局发布《关于加强商品房预售管理工作的若干措施（试行）的批 前公示》。其中提到，严控预售许可条件。按照"新老有别"的原则，对已取得施工许可证的项目，按照 有关规定，"投入开发建设的资金达到工程建设总投资的25％以上"时可申报商品房预售许可；或按照 《河南省城市房地产开发经营管理条例》第二十七条第四款规定"工程进度达到设计形象进度的二分之 一以上"时，申报商品房预售许可。 5月13日，华润置地披露4月未经审核经营简报。简报显示，4月华润置地及其附属公司实现总合同销售 金额约173亿元，总合同销售建筑面积约59.5万平方米，分别同比减少18.7%及30.4%。 北京商报记者 王寅浩 李晗 【5】新城控股4月销售额17.61亿元，同比减少52.46% 【3】建发股份2024年度派发现金红利8.84亿元 5月13日，建发股份发布2024年年度权益分派实施公告显示，建发股份本次每股分配比例为A股每股现 金红利0.3元，2024年度现金分红总方案为每股派发现金红利0.7元（含税）。股权登记日为2025年5月20 日，现金红利发放日为2025年 ...

| 股票代码：600153 | 股票简称：建发股份 | 公告编号：临2025-024 | | --- | --- | --- | | 债券代码：185929 | 债券简称：22建发Y3 | | | 债券代码：137601 | 债券简称：22建发Y4 | | | 债券代码：115755 | 债券简称：23建发Y1 | | | 债券代码：240217 | 债券简称：23建发Y2 | | | 债券代码：240650 | 债券简称：24建发Y1 | | | 债券代码：241016 | 债券简称：24建发Y2 | | | 债券代码：241137 | 债券简称：24建发Y3 | | | 债券代码：241265 | 债券简称：24建发Y4 | | | 债券代码：241266 | 债券简称：24建发Y5 | | 二、 分配方案 厦门建发股份有限公司2024年年度权益分派实施公告 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： ? 本次每股分配比例 A 股每股现金红利0.3元 现金红利发放 | | | | | 日 | | --- ...

Core Viewpoint - Company provides guarantees for its subsidiaries' customs guarantee insurance projects, with a total guarantee limit of 3.42 billion RMB [2][3][4]. Group 1: Guarantee Details - The total guarantee limit for the customs guarantee insurance project is 3.42 billion RMB, distributed among four insurance companies: China Pacific Insurance (1.17 billion RMB), Bank of China Insurance (1.15 billion RMB), Sunshine Insurance (600 million RMB), and China People's Insurance (500 million RMB) [2][3][4]. - As of April 2025, the company has provided a cumulative guarantee balance of approximately 1.39 billion RMB for the aforementioned customs guarantee insurance projects [4][10]. - The company has no counter-guarantees for these guarantees and has not experienced any overdue guarantees [4][10]. Group 2: Subsidiary Information - Major subsidiaries under guarantee include Jianfa (Shanghai) Co., Ltd., Jianfa (Tianjin) Co., Ltd., and others, all engaged in supply chain operations [6][8]. - The registered capital of these subsidiaries ranges from 10 million RMB to 30 million RMB, with 100% ownership by the company [6][8]. - The financial data of the major subsidiaries indicates varying levels of total assets and liabilities, with debt ratios generally above 60% [8][10].

| 股票代码：600153 | 股票简称：建发股份 | 公告编号：临2025—023 | | --- | --- | --- | | 债券代码：185929 | 债券简称：22建发Y3 | | | 债券代码：137601 | 债券简称：22建发Y4 | | | 债券代码：115755 | 债券简称：23建发Y1 | | | 债券代码：240217 | 债券简称：23建发Y2 | | | 债券代码：240650 | 债券简称：24建发Y1 | | | 债券代码：241016 | 债券简称：24建发Y2 | | | 债券代码：241137 | 债券简称：24建发Y3 | | | 债券代码：241265 | 债券简称：24建发Y4 | | | 债券代码：241266 | 债券简称：24建发Y5 | | 厦门建发股份有限公司 关于为子公司提供担保的公告 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： 一、担保情况概述 被担保人由于业务开展的需要，于货物报关通关时向中国太平洋财产保险股 份有限公司厦门分公司（以下简称"中 ...

| 股票代码：600153 | 股票简称：建发股份 | 公告编号：临2025-024 | | --- | --- | --- | | 债券代码：185929 | 债券简称：22建发Y3 | | | 债券代码：137601 | 债券简称：22建发Y4 | | | 债券代码：115755 | 债券简称：23建发Y1 | | | 债券代码：240217 | 债券简称：23建发Y2 | | | 债券代码：240650 | 债券简称：24建发Y1 | | | 债券代码：241016 | 债券简称：24建发Y2 | | | 债券代码：241137 | 债券简称：24建发Y3 | | | 债券代码：241265 | 债券简称：24建发Y4 | | | 债券代码：241266 | 债券简称：24建发Y5 | | 厦门建发股份有限公司2024年年度权益分派实施公告 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： 本次每股分配比例 A 股每股现金红利0.3元 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股 ...

Core Viewpoint - The article discusses the competitive dynamics between two luxury residential projects in Haidian, Beijing: Zhenluan and Jianfa Haiyan, highlighting their recent developments and challenges in obtaining construction permits [2][4][29]. Group 1: Project Developments - Zhenluan obtained two permits on May 7, 2025: a construction permit and a planning permit, indicating progress in its development [3]. - Jianfa Haiyan also secured a new construction permit on the same day, following its planning permit obtained on May 1, 2025 [3][4]. - Both projects are now at a similar stage in terms of permit acquisition, suggesting a competitive race between them [4]. Group 2: Permit Issues - Jianfa Haiyan's first construction permit was issued on May 6, 2025, but was later found to be canceled on May 7, 2025, raising questions about the validity of the permit [10][11]. - A new construction permit was issued to Jianfa Haiyan on May 8, 2025, with only a minor change in the permit number, indicating a possible attempt to rectify the previous cancellation [14]. - The cancellation of the initial permit suggests potential regulatory challenges that Jianfa Haiyan may face in its development process [12][29]. Group 3: Financial Strength and Strategy - Jianfa's financial position is robust, with reported revenue of 149.6 billion yuan and a net profit of 7.1 billion yuan for the year ending 2024, alongside a cash reserve of 56.6 billion yuan [23]. - The company has demonstrated a willingness to invest heavily in competitive bidding, as evidenced by its acquisition of land in Haidian for 9.51 million yuan per square meter, reflecting a 25% premium [5][22]. - The strategic approach of Jianfa's Beijing General Manager, who is adept at navigating policy and regulatory frameworks, is highlighted as a key factor in the company's operations [25][28].

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors, emphasizing the importance of stabilizing housing prices for both the real estate market and consumer confidence [4][27]. Core Insights - The report highlights a mixed performance in the real estate market, with new home sales in 34 key cities dropping by 29% week-on-week, while second-hand home sales showed a year-on-year increase of 12% [3][12]. - The report indicates that the government is implementing a series of monetary policy measures to support market stability, including a reduction in the Loan Prime Rate (LPR) and housing provident fund rates [4][27]. - The report suggests that the competitive landscape in the real estate sector is expected to improve, particularly for companies with strong product capabilities, as the market transitions to a new development model [4][27]. Summary by Sections Industry Data - New home sales in 34 cities totaled 181.9 million square meters last week, a decrease of 29.2% compared to the previous week [5]. - In May, new home sales in 34 cities increased by 9% year-on-year, with first and second-tier cities seeing a 10.6% increase [7][8]. - The inventory of new homes in 15 cities decreased by 0.3% week-on-week, with a current available area of 89.27 million square meters [22]. Policy and News Tracking - The People's Bank of China announced a series of monetary policy measures, including a 10 basis point reduction in the LPR and a 25 basis point reduction in housing provident fund rates [4][27]. - The report notes that the government is focusing on stabilizing the real estate market and promoting domestic demand in response to external trade tensions [4][27]. Company Announcements - In April, major real estate companies reported varied sales performance, with China Overseas Development achieving sales of 202 billion yuan, down 8% year-on-year, while China Jinmao saw a 7% increase [34]. - As of April 30, 2025, China Vanke and China Merchants Shekou have initiated share buybacks, indicating confidence in their long-term prospects [34].

Core Viewpoint - The performance of listed companies in Xiamen demonstrates strong profitability and growth potential, contributing significantly to the stability of the regional economy, with 68 companies achieving a combined net profit of 3.816 billion yuan in Q1 2025 [2]. Group 1: Financial Performance - 68 listed companies in Xiamen reported a total net profit of 3.816 billion yuan in Q1 2025, with 62 companies profitable, representing over 90% [2]. - 38 companies experienced year-on-year profit growth, accounting for nearly 60% of the total [2]. - 17 companies reported profits exceeding 100 million yuan, highlighting the strong financial performance of the Xiamen market [2]. Group 2: Top Performing Companies - Xiamen Bank led with a net profit of 645 million yuan, with management expecting a gradual increase in return on investment (ROI) throughout the year [9]. - Jianfa Co. achieved a net profit of 584 million yuan, with total revenue reaching 143.773 billion yuan, a year-on-year increase of 9.47% [9]. - Yilian Network reported a net profit of 562 million yuan, with total revenue of 1.205 billion yuan, reflecting a year-on-year growth of 3.57% [9]. Group 3: Emerging Industries - Weike Technology's revenue reached 539 million yuan, a year-on-year increase of 64.37%, with net profit doubling to 77.3928 million yuan [11]. - Tebao Bio's revenue was 673 million yuan, up 23.48%, with a net profit of 182 million yuan, reflecting a 41.40% increase [12]. - Huamao Technology reported revenue of 537 million yuan, a 14.37% increase, with net profit rising by 60.34% to 86.4219 million yuan [12]. Group 4: Strategic Developments - Xiamen Xiangyu's net profit was 509 million yuan, a year-on-year increase of 24.88%, supported by improved risk management and financial structure [10]. - Companies are enhancing profitability through upstream and downstream integration and optimizing product structures, with Weike Technology focusing on high-performance precision molds for emerging industries [12].