Core Viewpoint - Beijing Urban Construction Investment Development Co., Ltd. has shown a net financing inflow of 17.69 million yuan in the last week, ranking 462nd in the market, indicating a moderate interest from investors [1] Financing Data - The total financing amount for the last week was 153 million yuan, while the repayment amount was 136 million yuan [1] - Over the past 5 days, the main capital outflow was 504.89 thousand yuan, with a decline of 0.39% [1] - Over the past 10 days, the main capital outflow was 583.19 thousand yuan, with a decline of 0.3% [1] Company Overview - Beijing Urban Construction Investment Development Co., Ltd. was established in 1998 and is primarily engaged in the real estate industry [1] - The company has a registered capital of 20,757.43507 million yuan and the same amount in paid-in capital [1] - The legal representative of the company is Qi Zhanfeng [1] Investment Activities - The company has made investments in 74 enterprises and participated in 94 bidding projects [1] - It holds 10 trademark registrations and has 77 administrative licenses [1]

Investment Rating - The report maintains an "Overweight" rating for the real estate development and service sectors [9] Core Insights - The report highlights a slight recovery in transaction volumes for both new and second-hand homes, with a focus on inventory reduction progress [1] - New home sales in 44 cities decreased by 7% year-on-year, while second-hand home sales increased by 13% year-on-year [1] - The inventory of new homes in 21 key cities showed a rolling week-on-week increase of 0.2%, while second-hand home listings rose by 0.2% compared to August 10 [1][31] Summary by Sections Market Overview - The Shanghai Composite Index rose by 2.37%, with the real estate development sector increasing by 3.94% [2] - The report notes a positive trend in the stock performance of major real estate companies [2] Key Companies and Dynamics - The report recommends several companies for investment, including: - Chengjian Development (600266 CH) with a target price of 7.32 - Chengtou Holdings (600649 CH) with a target price of 6.34 - Xincheng Holdings (601155 CH) with a target price of 17.50 - Binjiang Group (002244 CH) with a target price of 12.08 - China Overseas Development (688 HK) with a target price of 17.07 - Lingshan Property Fund (823 HK) with a target price of 50.59 [3][38] Sales and Inventory Data - New home sales in 44 cities from August 1 to 15 saw a year-on-year decline of 17%, with first-tier cities down by 29% [11] - The inventory of new homes in 21 cities decreased by 14% year-on-year, with a current de-stocking speed of 86 weeks [28] - As of August 17, the number of second-hand homes listed in 21 cities was approximately 2.745 million, a 7.3% increase from the end of last year [31] Recommendations - The report emphasizes the potential for valuation recovery in companies with strong performance and cash flow, particularly in key urban markets [3][37] - The report maintains a "Buy" rating for all recommended companies, indicating confidence in their future performance [9][38]

Group 1 - The company held its 22nd meeting of the 9th Board of Directors on August 15, 2025, with all 7 directors present [2][3] - The board approved a proposal for the company to collaborate with Beijing Jindi Real Estate Development Co., Ltd. to invest in real estate projects in Beijing, with a total investment not exceeding 5.5 billion yuan [3][10] - The collaboration constitutes a related party transaction as Jindi Company is a subsidiary of the company's controlling shareholder [10][11] Group 2 - The project will involve forming a joint venture with independent legal status to manage the development, with the company holding the controlling stake [4][14] - The company plans to finance the project through bank loans, with a total borrowing limit of 3 billion yuan, which is 14.49% of the company's latest audited net assets [4][19] - The board agreed to submit the related party transaction for shareholder approval and authorized the board to finalize specific project cooperation plans within the approved investment scope [4][17] Group 3 - The company has not engaged in any related party transactions with Jindi Company in the past 12 months [18] - The second extraordinary general meeting of shareholders is scheduled for September 1, 2025, to discuss the approved proposals [22][25] - The meeting will utilize both on-site and online voting methods for shareholder participation [23][26]

Group 1 - The company announced that its ninth board of directors held the 22nd meeting, where it approved the proposal for cooperation with related parties to invest in real estate projects [2] - The company also approved the proposal to convene the second interim shareholders' meeting for 2025 [2]

Group 1 - The company, Chengjian Development, announced the convening of its 22nd meeting of the 9th Board of Directors on August 15, 2025, to discuss investment cooperation in real estate projects with related parties [1] - For the year 2024, the revenue composition of Chengjian Development is as follows: 73.5% from real estate development (housing sales), 23.68% from real estate development (land primary development), 2.22% from leasing income, 0.31% from other businesses, and 0.19% from property management [1] - As of the report date, the market capitalization of Chengjian Development is 10.2 billion yuan [1]

证券代码：600266 证券简称：城建发展 公告编号：2025-41 北京城建投资发展股份有限公司 第九届董事会第二十二次会议决议公告 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。 一、董事会会议召开情况 "公司"）第九届董事会第二十二次会议在公司六楼会议室召开，会 议通知和材料已于 2025 年 8 月 12 日通过书面及电子通讯方式送达全 体董事。本次会议应参会董事 7 人，实际参会董事 7 人，董事长齐占 峰主持了会议，公司部分高级管理人员列席了会议。本次会议的召开 符合《公司法》等有关法律法规和《公司章程》规定。 二、董事会会议审议情况 联合参与土地竞买活动时，合作各方将以现金形式支付竞买保证 金和后续地价款。竞得土地后，合作各方共同申请设立具有独立法人 资格的项目公司，负责项目具体开发运作，项目公司由公司控股。项 目公司名称以市场监督管理部门最终核定为准，注册资本金按照地价 款 100%实缴（以土地实际成交价格为准），以合作各方实际投入资金 比例确定股权比例。各方股东根据实际需要向项目公司增资或减资时， 必须按照同 ...

关于召开2025年第二次临时股东会的通知 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： ? 股东会召开日期：2025年9月1日 ? 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 一、 召开会议的基本情况 (一)股东会类型和届次 证券代码：600266 证券简称：城建发展 公告编号：2025-43 北京城建投资发展股份有限公司 (二)股东会召集人：董事会 (三)投票方式：本次股东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 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 9 月 1 日 至2025 年 9 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 东会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互 联网投票平台的投票时间为股东会召开当日的 9:15-15:00。 (六)融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业 ...

证券代码：600266 证券简称：城建发展 公告编号：2025-42 北京城建投资发展股份有限公司 关于公司与关联人合作投资房地产项目的公告 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： 1 北京城建投资发展股份有限公司（以下简称"公司"）与 北京金第房地产开发有限责任公司（以下简称"金第公司"） 组成联合体独立或联合外部企业合作投资北京市内房地 产项目，项目整体支付的地价款及后续开发建设资金总额 度不超过 55 亿元。 金第公司系北京住总集团有限责任公司（以下简称"住总 集团"）控股子公司，住总集团持有其 90.91%股权，住 总集团为公司控股股东北京城建集团有限责任公司（以下 简称"城建集团"）全资子公司，金第公司为公司关联人， 本次交易构成关联交易 本次交易未构成重大资产重组 本次交易尚需提交股东会批准 截至本公告披露日，过去 12 个月内公司未与金第公司发 生过关联交易，也未与不同关联人发生与本次交易类别相 关的交易。 一、关联交易概述 （一）基本情况 公司拟与金第公司组成联合体独立或联合外部企业合 ...

证券代码：600266 证券简称：城建发展 公告编号：2025-43 北京城建投资发展股份有限公司 关于召开2025年第二次临时股东会的通知 2025年第二次临时股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东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 9 月 1 日 14 点 30 分 召开地点：北京市朝阳区北土城西路 11 号城建开发大厦九楼会议室 (五)网络投票的系统、起止日期和投票时间。 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、 召开会议的基本情况 (一)股东会类型和届次 二、 会议审议事项 股东会召开日期：2025年9月1日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 9 月 1 日 至2025 年 9 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 东会召开当日的交易 ...

证券代码：600266 证券简称：城建发展 公告编号：2025-41 北京城建投资发展股份有限公司 第九届董事会第二十二次会议决议公告 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。 一、董事会会议召开情况 2025 年 8 月 15 日，北京城建投资发展股份有限公司（以下简称 "公司"）第九届董事会第二十二次会议在公司六楼会议室召开，会 议通知和材料已于 2025 年 8 月 12 日通过书面及电子通讯方式送达全 体董事。本次会议应参会董事 7 人，实际参会董事 7 人，董事长齐占 峰主持了会议，公司部分高级管理人员列席了会议。本次会议的召开 符合《公司法》等有关法律法规和《公司章程》规定。 二、董事会会议审议情况 本次会议审议通过了以下议案： （一）关于公司与关联人合作投资房地产项目的议案 公司拟与北京金第房地产开发有限责任公司（以下简称"金第公 司"）组成联合体独立或联合外部企业合作投资北京市内房地产项目， 项目整体支付的地价款及后续开发建设资金总额度不超过 55 亿元。 金第公司系北京住总集团有限责任公司（以下简称"住 ...