Core Insights - Two plots of land in Beijing's Fengtai and Chaoyang districts were sold for a total of 3.346 billion yuan, marking a significant transaction in the real estate market [1] - The Chaoyang plot is the first residential land released in the CBD core area in nearly a decade, with a limited supply of approximately 50 high-end residential units [2][3] - The Fengtai plot is part of a slum redevelopment project, with a larger scale and potential for significant residential development [4][5] Summary by Sections Chaoyang Plot - The Chaoyang plot, located in the CBD core area, covers 5,300 square meters with a building area of 7,588 square meters and a starting price of 446 million yuan [2] - The plot consists of two parts: R2 residential land and A8 community service facilities, with specific height and area regulations [2] - The project is part of a larger urban renewal initiative, aiming to transform old residential areas into modern living spaces [2][3] - The unique location near high-end commercial complexes and medical facilities enhances its attractiveness, despite the limited number of units [3] Fengtai Plot - The Fengtai plot spans approximately 2.18 hectares with a planned building area of 58,000 square meters and a starting price of 2.9 billion yuan [4] - It is strategically located between the third and fourth ring roads, with access to nearby amenities and educational institutions [5] - The project aims to improve living conditions in the area, having started its redevelopment process in 2016 [5][6] - The joint venture of three companies won the bid at a floor price of 5.03 million yuan per square meter, indicating cautious market sentiment [5][6] Market Implications - The limited supply of high-end residential units in the Chaoyang plot is expected to set a price benchmark for the high-end residential market in Beijing [3] - The Fengtai project is anticipated to attract buyers from neighboring districts due to its educational resources and potential transportation improvements [5][6] - The overall market environment remains competitive, with a high inventory of new homes in Fengtai, leading to a cautious approach from developers [5][6]

新京报贝壳财经讯 9月5日，城建发展+北京建工+住总金第联合体以底价29亿元摘得北京丰台区岳各庄 村A区棚改地块，成交楼面价50000元/平方米。 对此，中指研究院土地市场研究负责人张凯表示，长远来看，岳各庄地块凭借核心区位与教育资源，仍 有望吸引西城、海淀等区域的改善型需求。若规划中的地铁11号线青塔站（距地块约800米）顺利落 地，将显著提升交通便捷度。该地块的开发有望为丰台核心区发展注入新动力，但其实际市场表现仍需 取决于产品定位、定价策略及周边环境改善进度。 编辑 寇德娜 校对 柳宝庆 上述地块为北京市丰台区岳各庄村A区棚户区改造土地开发项目DC-L01地块R2二类居住用地，编号京 土储挂（丰）[2025]026号，土地面积21772.59平方米，总建筑规模58000平方米，容积率2.66，建筑控 高60米（局部80米），起始价29亿元，起始楼面价50000元/平方米。 ...

Core Viewpoint - The recent land auction in Beijing saw state-owned enterprises acquire two plots, indicating a cautious market environment for real estate development in the city [1][5]. Group 1: Land Auction Details - On September 5, two plots in Fengtai and Chaoyang were sold for a total of 3.346 billion yuan, with the Fengtai plot acquired at the base price of 2.9 billion yuan and the Chaoyang plot at a floor price of approximately 8.1 million yuan per square meter [1][3]. - The Chaoyang plot, known as the Hujialou site, is strategically located near key commercial and transportation hubs, making it an attractive investment despite its small size [2][3]. Group 2: Market Conditions and Implications - The Hujialou plot is the first residential land released in the CBD core area in nearly a decade, but its small scale (total area of 0.53 hectares and residential area of 0.55 hectares) limits its appeal to major developers [3][4]. - The plot's limited development potential may deter large-scale real estate firms, as it does not significantly contribute to their growth or product optimization [4][5]. - The successful acquisition of the Hujialou plot by Shoukai marks its return to the Beijing land market after a two-year hiatus, reflecting a strategic move to rebuild its land reserves [5][6]. Group 3: Future Market Outlook - The upcoming supply of luxury residential projects in Chaoyang, including the Hujialou and Sun Palace plots, is expected to intensify competition in the market [6][7]. - The Fengtai plot, acquired by a consortium of state-owned enterprises, is positioned near educational resources and established commercial areas, which may attract buyers from neighboring districts [7][8]. - Long-term prospects for the Fengtai plot could improve with the planned construction of the subway line 11, enhancing transportation accessibility [8].

证券代码：600266 证券简称：城建发展 公告编号：2025-47 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进展情况的公告 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"）、北京建邦憬瑞房地产开发有限公司（以下简称"建 邦公司"）组成联合体，以 29 亿元的价格竞得北京市丰 台区岳各庄村 A 区棚户区改造土地开发项目 DC-L01 地块国有 建设用地使用权（以下简称"岳各庄项目"），公司与金第 公司、建邦公司的投资比例为 48%：10%：42%。 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 本次交易已经 2025 年第二次临时股东会批准 截至本公告披露日 ...

Group 1 - Beijing sold two residential land parcels in Fengtai and Chaoyang districts on September 5, with a total transaction amount of 3.346 billion yuan [1] - The Chaoyang district land parcel is the first residential land offered in the CBD core area in nearly a decade, providing significant price reference for the high-end residential market in Beijing [1][2] - The Chaoyang land has a total area of 5,300 square meters, with a residential area of 2,700 square meters and a starting price of 446 million yuan, ultimately sold at the starting price [1][2] Group 2 - The Fengtai district land parcel covers an area of 21,772.59 square meters, with a total building scale of 58,000 square meters and a starting price of 2.9 billion yuan, also sold at the starting price [1][3] - The Fengtai land's transaction price of approximately 50,000 yuan per square meter is competitive compared to surrounding new homes, with future price expectations reaching 90,000 to 100,000 yuan per square meter [3] - The current new home inventory in Fengtai is high, with a de-stocking cycle of about 36 months, indicating a competitive market environment [3]

人民财讯9月5日电，9月5日，北京出让2宗涉宅用地，分别位于丰台区和朝阳区，总成交金额33.46亿 元。 其中，丰台区地块由城建发展（600266）、北京建工、住总金第联合体以底价29亿元竞得，成交楼面价 50000元/平方米；朝阳区地块由首开以底价4.46亿元竞得，综合楼面价58777元/平方米，去除社区综合 服务设施建面后，住宅楼面价80973元/平方米。 ...

出让文件显示，该宗地块土地面积约为2.18万平方米，建筑控制规模5.8万平方米，均为R2二类居住用 地，容积率约2.66，限高60局部80米。 北京商报讯（记者 王寅浩 李晗）9月5日，城建发展+北京建工+住总金第联合体以底价29亿元摘得北京 市丰台区岳各庄村A区棚户区改造土地开发项目DC—L01地块，楼面价约5万元/平方米。 ...

Core Viewpoint - Beijing Urban Construction's entry into Shanghai is a significant strategic move, but initial performance in the local market has not met expectations [2][4]. Group 1: Company Strategy and Performance - Beijing Urban Construction successfully acquired two prime plots in Yangpu District, Shanghai, in 2024, marking its first foray into the city [2][4]. - The company reported substantial improvements in revenue and net profit for the first half of 2025, but the performance in Shanghai has been disappointing [2]. - The first project, Guoyu Mansion, was launched with a sales price of 107,000 yuan per square meter, but the initial sales results were underwhelming, with a net signing rate of less than 50% shortly after launch [5][6]. Group 2: Market Conditions and Competition - The competitive landscape in Yangpu District is intensifying, with other developers like Poly Developments and China Overseas Land & Investment also acquiring land and launching projects [10]. - The project Guoyu Mansion faced delays in development, allowing competitors to capture market demand first, leading to a challenging sales environment for Beijing Urban Construction [4][10]. - The second project, Lingcui Riverside, also struggled with low customer engagement, with a net signing rate of only about 9.16% as of early September [12][13]. Group 3: Sales and Customer Engagement - Guoyu Mansion initially reported a sales rate of 82.58% after its launch, but subsequent reports indicated that only 24 units had sold after six months, highlighting a significant drop in momentum [7][8]. - Lingcui Riverside's first batch of 26 units had a low customer participation rate, with only 28 interested buyers, indicating weak market interest [12]. - Discounts were offered on Lingcui Riverside to stimulate sales, which is unusual for new developments in the inner ring of Shanghai, reflecting the pressure on the company to improve sales performance [12][13].

Core Viewpoint - Beijing Urban Construction Development Co., Ltd. has shown significant growth in revenue and net profit for the first half of 2025, indicating strong operational performance in the real estate sector [2]. Group 1: Stock Performance - On September 2, the stock price of Beijing Urban Construction Development rose by 2.19%, reaching 5.13 CNY per share, with a trading volume of 283 million CNY and a turnover rate of 2.69%, resulting in a total market capitalization of 10.649 billion CNY [1]. - Year-to-date, the stock price has increased by 1.58%, with a 0.59% rise over the last five trading days, a 12.01% increase over the last 20 days, and a 19.30% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to June 2025, the company achieved a revenue of 12.760 billion CNY, representing a year-on-year growth of 95.70%, while the net profit attributable to shareholders was 608 million CNY, reflecting a remarkable increase of 541.85% [2]. - Cumulatively, since its A-share listing, the company has distributed a total of 5.243 billion CNY in dividends, with 519 million CNY distributed over the past three years [3]. Group 3: Shareholder Structure - As of June 30, 2025, the number of shareholders increased to 48,500, up by 3.26% from the previous period, while the average number of circulating shares per shareholder decreased by 3.15% to 42,826 shares [2]. - The top ten circulating shareholders include notable entities such as the Southern CSI Real Estate ETF, which increased its holdings by 528,800 shares, and new entrants like Hong Kong Central Clearing Limited and Southern CSI 1000 ETF [3].

Group 1 - The company announced that its second extraordinary general meeting of shareholders for 2025 was held on September 1, 2025 [2] - The meeting approved a proposal regarding cooperation with related parties to invest in real estate projects [2]