厦门建发股份有限公司 2024 年年度股东大会 会议资料 1 厦门建发股份有限公司 2024 年年度股东大会会议资料目录 | 序号 | 内容 | 页码 | | --- | --- | --- | | 1 | 《公司 2024 年度董事会工作报告》 | 6 | | 2 | 《公司 2024 年度监事会工作报告》 | 16 | | 3 | 《公司 2024 年年度报告》及其摘要 | 19 | | 4 | 《公司 2024 年度财务决算报告及 2025 年度预算案》 | 20 | | 5 | 《公司 2024 年度利润分配方案》 | 23 | | 6 | 《关于申请注册 DFI 债务融资工具的议案》 | 25 | | 7 | 《关于修订<公司章程>并取消监事会的议案》 | 26 | | 8 | 《关于修订<董事会议事规则>的议案》 | 27 | | 9 | 《关于修订<股东大会议事规则>的议案》 | 28 | | 10 | 《关于聘任公司 2025 年度审计机构的议案》 | 29 | | 11 | 《关于董事、监事 2024 年度及 2025 年度薪酬的议案》 | 32 | | 12 | 《关于提名公司第十届董事会 ...

建发股份（600153）公告，2024年营业收入7012.96亿元，同比下降8.17%。归属于上市公司股东的净利 润29.46亿元，同比下降77.52%。公司2024年度利润分配方案为每10股派发现金红利3元(含税)，合计拟 派发现金红利8.84亿元(含税)。2024年度现金分红(包括中期分红)总方案为每10股派发现金红利7元(含 税)，现金红利总额为20.63亿元，剩余未分配利润结转至2025年度。 ...

Investment Rating - The report does not explicitly state an investment rating for the real estate industry Core Insights - The real estate sector in A-shares and Hong Kong has experienced declines, with A-share real estate down by 1.5% and Hong Kong real estate down by 4.6% during the week of April 5-11 [2] - The average premium rate for land transactions remains high at 11%, despite a significant week-on-week decline in land transaction volume by 51% [2][29] - New housing transactions have decreased due to holiday effects and the pace of new launches, with a week-on-week decline of 35% across 47 cities [3][34] - The second-hand housing market shows resilience with a week-on-week increase of 9% in transactions across 22 cities [3][42] - The necessity for real estate stimulus has increased due to tariff impacts, with the potential for policy measures to be introduced in late April [4][13] Summary by Sections Market Overview - The A-share real estate sector ranked 6th among all sectors with a decline of 1.5%, while the Hong Kong real estate sector ranked 5th with a decline of 4.6% [2][18] - The property service index in Hong Kong fell by 2.5%, outperforming the Hang Seng China Enterprises Index and the CSI 300 Index by 4.9% and 0.4%, respectively [23] Land Transactions - In the week of April 5-11, the total area of residential land sold in 300 cities was 276 million square meters, reflecting a 51% decrease week-on-week and a 43% decrease year-on-year [2][29] - Cumulatively, from the beginning of 2025, the total area of residential land sold reached 9,554 million square meters, with a year-on-year increase of 1% [29] New Housing Transactions - New housing sales across 47 cities totaled 283 million square meters, with a week-on-week decline of 35% and a year-on-year decline of 6% [3][34] - First-tier cities saw a week-on-week decline of 39% in new housing transactions [34] Second-hand Housing Transactions - Second-hand housing transactions across 22 cities totaled 272 million square meters, with a week-on-week increase of 9% and a year-on-year increase of 23% [42] - First-tier cities experienced a year-on-year increase of 30% in second-hand housing transactions [42] Policy and Stimulus - The report highlights the need for stimulus measures in the real estate sector due to increased tariffs, with potential policy implementations expected following the political bureau meeting at the end of April [4][13] - Various cities are conducting research and preparing policies to stabilize the real estate market [14] Market Dynamics - The average absorption rate for new projects in March reached 45%, with significant increases in cities like Beijing, Shanghai, and Chengdu [5][15] - Strong product quality is identified as a key factor driving market interest, particularly in core urban areas [5][15] Investment Recommendations - The report suggests focusing on companies with strong product offerings and land acquisition capabilities, particularly in first-tier and core second-tier cities [6] - Recommended companies include Binjiang Group, China Overseas Development, and Jianfa International Group, along with their respective property management firms [6]

智通财经APP获悉，中信建投证券发布研报称，3月重点城市新房成交同比增长3.5%，二手房成交同比 增长37%，二手房成交占比继续提升。核心城市表现亮眼。北上广深成杭二手房成交套数同比增速均在 30%以上。百强房企3月销售金额降幅扩大，主要系二手房替代和新开盘项目减少，但核心城市项目首 开去化率明显提升。土地市场延续火热，核心城市单价"地王"频现，推高土拍溢价率。3月全国宅地成 交溢价率为17.15%，环比提升4.4个百分点。贸易战背景下针对内需的宏观政策积极有为、靠前发力， 看好房地产行业板块整体表现。 中信建投证券主要观点如下： 新房成交延续止跌，二手房成交处于历史高位 一季度重点40城新房成交面积2580万方，同比增长4.5%。其中3月新房成交面积为1124万平，同比增长 3.5%。在新开盘项目收缩背景下，3月重点城市新房成交面积仍实现正增长，且一线城市新房成交面积 同比增速达到两位数。二手房成交景气度好于新房，一季度重点13城二手房成交面积为1960万方，同比 增长33%，成交量处于历史高位。其中3月二手房成交面积为850万方，同比增长37%，北上广深成杭六 个核心城市一季度二手房成交套数增速均在30% ...

国家版"好房子"规范将于下月起施行，房企如何应对？ 根据住房和城乡建设部发布的国家标准《住宅项目规范》，住宅项目建设应以安全、舒适、绿色、智慧 为目标，遵循"经济合理、安全耐久，以人为本、健康舒适，因地制宜、绿色低碳，科技赋能、智慧便 利"的原则。 此次规范出台不仅是住宅项目的底线要求、强制性规范，也为"好房子"建设提供了指导。而自2023年6 月，住建部部长倪虹首次提出"好房子"概念后，各地"好房子"的推进工作持续开展。据新京报贝壳财经 记者统计，截至目前，已有北京、广州、天津、深圳及江苏省、江西省、湖北省、河南省、浙江省、贵 州省等多个省市出台"好房子"导则。从共性来看，增加层高、降低噪音、智能配置、适老化成为各 地"好房子"导则的调整方向。 "好房子"国标即将落地，作为建造主角，部分房企也率先发布了自己的"好房子"战略。那么，目前，房 企如何落地"好房子"规范，新房产品有哪些创新？ 龙湖、绿地等率先试水 国家版"好房子"规范在层高、噪音、电梯等多方面有新的要求。比如，根据最新规范，住宅层高由现行 版本规定的"宜为2.8米"提升至不低于3.0米，卧室/起居室净高由不低于2.4米提升至不低于2.6米；同 时 ...

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors [2][3]. Core Insights - The report highlights the importance of stabilizing the real estate market in response to the ongoing trade war, emphasizing the need for domestic demand expansion [2][3]. - It notes a significant decline in both new and second-hand housing transactions, with new home sales in 34 key cities dropping by 23% week-on-week and 26% year-on-year in April [4][7]. - The report indicates that the government is implementing policies to stabilize the market, including the cancellation of housing transfer restrictions in Nanjing and the expansion of housing fund withdrawal policies [32][33]. Industry Data Summary New Housing Transaction Volume - New housing sales in 34 key cities totaled 3.093 million square meters last week, a week-on-week decrease of 23.4% [4]. - Year-on-year, new housing sales in April are down 26%, with first and second-tier cities seeing a 21% decline and third and fourth-tier cities experiencing a 49% drop [7][8]. Second-Hand Housing Transaction Volume - Second-hand housing sales in 13 key cities fell by 26.2% week-on-week, with April sales down 15% year-on-year [13]. - Cumulative sales for the year to date show a 26.5% increase compared to the previous year [13]. New Housing Inventory - In 15 key cities, 710,000 square meters of new housing were launched last week, with a sales-to-launch ratio of 2.08, indicating a continued trend of inventory reduction [21]. - The total available residential area in these cities is 88.71 million square meters, reflecting a 0.9% decrease week-on-week [21]. Policy and News Tracking - The report discusses macroeconomic policies, including the imposition of tariffs on U.S. imports and the rise in manufacturing PMI to 50.5%, indicating a recovery in manufacturing activity [32][33]. - It highlights local government initiatives, such as Nanjing's cancellation of housing transfer restrictions and the expansion of housing fund policies in various cities [32][33]. - The report also notes the active land market in core cities, with significant land sales and project launches reported in the first quarter of 2025 [32][33].

导 读 3月土地市场成交量跌价升，呈现点状火热的态势；预计重点城市土地热度将继续维持，投资持 续筑底， 央国企保持在核心城市拿地积极性。 ☉ 文／克而瑞研究中心 | | | | 2025年1-3月 ·中国房地产企业 | | | | --- | --- | --- | --- | --- | --- | | 排名 | 企业名称 | 新增土地价值 (亿元) | 排名 | 企业名称 | 新增土地建面 (万平方米) | | 1 | 未润黑瓶 | 329 4 | 1 | 绿城中国 | 118.0 | | 2 | 中海地产 | 298.0 | 2 | 华润置地 | 104. 1 | | 3 | 绿城中国 | 287.0 | 3 | 中海地产 | 98. 4 | | 4 | 招商蛇口 | 217.7 | 4 | 招商蛇口 | 98.2 | | 5 | 中国金茂 | 199.3 | 5 | 保利发展 | 88.9 | | 6 | 滨江集团 | 195.8 | 6 | 海泰置业 | 86.9 | | 7 | 建发房产 | 193.9 | 7 | 印象置业 | 71.9 | | 8 | 保利发展 | 173.9 | 8 | 邦泰 ...

转至北美，连续三年参展Intersolar北美国际太阳能展的建发清洁能源，已成为展会常客与行业"熟面 孔"。全系列清洁能源解决方案与创新光伏产品的展示，是建发集团旗下建发股份对北美市场深耕的成 果汇报。通过与合作伙伴深入交流市场发展机遇与策略，建发集团旗下建发股份正精准把握北美光伏市 场脉搏，以全球资源链接与渠道运营能力为"钥匙"，开启北美市场的广阔大门。 当下，建发集团核心企业建发股份在海外重点市场布局本地化营销团队，不断探索国际供应链运营业务 新合作。这一系列举措，彰显建发集团立足全球、服务全球的决心，提供优质产品与多元解决方案，为 全球新能源发展添砖加瓦。未来，建发集团还将在新能源领域持续发力，携手行业伙伴，在全球绿色能 源转型升级浪潮中，书写属于自己的辉煌篇章。 近日，建发集团核心企业建发股份（600153）（600153.SH）积极亮相国际新能源展会，旗下建发新兴 能源与建发清洁能源在巴基斯坦国际太阳能光伏展（Solar Pakistan）和Intersolar北美国际太阳能展上大 放异彩，成为全球新能源产业关注焦点，展现出建发集团在绿色能源赛道的强劲实力与战略眼光。 在巴基斯坦国际太阳能光伏展上， ...

Core Insights - In 2022, Jianfa Co., a major state-owned developer in Xiamen, achieved a historical sales high of approximately 210 billion, ranking among the top ten in the industry, but its profits began to decline significantly [2] - The real estate segment contributed over 60% to the company's profits, with net profits dropping to 7 billion due to asset impairment losses exceeding 5.1 billion [2] - Jianfa's subsidiary, Xiamen Hengrongchen Real Estate Development Co., reported revenues of over 16.6 billion and net profits of 2.2 billion, accounting for 12% of Jianfa's real estate revenue and 31% of its profits [2] - Jianfa's strategy of acquiring high-priced land has paid off, as seen in the two major projects in Xiamen, which significantly contributed to its revenue and profits [2] Financial Performance - Jianfa's overall revenue from real estate was 136.5 billion, with a net profit of 7 billion, indicating a low overall gross margin of less than 15% [3] - The company anticipates a significant profit drop to around 3 billion due to weak commodity trading, necessitating reliance on real estate for profit generation [3] Land Acquisition Strategy - Jianfa has aggressively pursued land acquisitions across major cities, including Beijing, Chengdu, and Hangzhou, achieving record land prices [3] - In Hangzhou, Jianfa acquired a plot for 3.4 billion, with a premium rate exceeding 115%, setting a new record for land prices in the city at an average floor price of 88,000 per square meter [3] - The company also secured a land parcel in Chengdu for 3.3 billion, with a floor price of over 41,000 per square meter, marking it as the highest in the area [3] - Jianfa's strategy of acquiring "land kings" has become a straightforward approach to generating profits, with the belief that high land prices equate to higher profits [3] Market Impact - Jianfa's aggressive land purchases have raised concerns among other developers, leading to competitive pressures in the market [4] - The company's actions have significantly influenced land price levels across major cities, pushing them to new heights [3][4]

"太疯狂了！"一位成都本土开发商在看到今天的土拍成交价后，如此惊呼。 3月27日上午，成都土地市场再掀波澜。锦江区金融城三期一宗48.74亩纯住宅用地，经过213轮激烈竞 价，最终被建发地产以41200元/平方米的楼面价收入囊中，溢价率高达106%，总价约33.47亿元，这一 成交价刷新了成都土拍楼面单价纪录。 一位建发地产员工告诉《中国经营报》记者，在这次土拍前，公司就已经对林家坝、白鹭湾等豪宅区的 业主做过调研，确认了地块的认可度，对本次土拍有很多准备。 半个月内两"破万" 在成都市3月27日土拍开始前，就有很多对该地块成交价的猜测。有业内人士预测，该地块可能会达到 超4万元/平方米的纪录。 这宗"地王级"地块有何特殊之处？ 该地块位于锦江区柳江街道包江桥社区，东侧紧邻锦江，西侧一街之隔便是成都市七中育才学校金融城 校区，计划今年9月正式招生。此外，地块距离地铁6号线、9号线交会的金融城东站仅约200米，周边还 规划有交子公园特色金融街、滨江商业步行街等城市级配套。 值得注意的是，2024年9月，与本地块仅一路之隔的23.6亩宅地，由贝好家（贝壳旗下公司）以27300 元/平方米的楼面价竞得，溢价率42. ...