Group 1 - The Tianjin Free Trade Zone concept declined by 2.70%, ranking among the top declines in the concept sector, with companies like Saixiang Technology hitting the limit down [1] - Major stocks within the Tianjin Free Trade Zone concept that experienced significant declines include HNA Technology, Jintou City Development, and Bohai Chemical [1] - The net outflow of main funds from the Tianjin Free Trade Zone concept reached 276 million yuan, with 11 stocks experiencing net outflows, and 5 stocks seeing outflows exceeding 10 million yuan [2] Group 2 - HNA Technology had the largest net outflow of main funds at 113 million yuan, followed by Saixiang Technology and Jiuan Medical with net outflows of 107 million yuan and 2.52 million yuan respectively [2] - The stocks with the highest net inflows included Youfa Group, Tianjin Port, and Haitai Development, with inflows of 19.56 million yuan, 11.50 million yuan, and 5.79 million yuan respectively [3] - The trading performance of key stocks in the Tianjin Free Trade Zone concept showed significant volatility, with Saixiang Technology down by 10% and HNA Technology down by 5.92% [2][3]

Core Viewpoint - The company reported a significant decline in revenue and an increased net loss for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company achieved an operating revenue of 841 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 17.72% [1] - The net profit attributable to shareholders of the parent company was -789 million yuan, which is a deterioration of 574 million yuan compared to the same period last year [1] - The basic earnings per share stood at -0.7133 yuan [1]

Core Viewpoint - The company reported a significant decline in revenue and an increased net loss for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company achieved an operating revenue of 841 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 17.72% [1] - The net profit attributable to shareholders of the parent company was -789 million yuan, which is a deterioration of 574 million yuan compared to the same period last year [1] - The basic earnings per share were -0.7133 yuan [1]

证券代码：600322 证券简称：津投城开 公告编号：2025—097 天津津投城市开发股份有限公司 关于 2025 年第三季度计提资产减值准备的公告 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。 一、本次计提资产减值准备概述 2025 年 7-9 月，根据《企业会计准则》及天津津投城市开发股份有限公司（以 下简称"公司"）会计政策相关规定，公司对合并报表范围内截至 2025 年 9 月 30 日的各类资产进行了全面检查和减值测试，基于谨慎性原则，公司需对可能 发生减值损失的相关资产计提相应的减值准备。公司本次计提减值准备的资产主 要为子公司的存货，本次计提资产减值准备 21,241,494.62 元。 二、计提资产减值准备的确认标准、计提方法 1 （一）计提存货跌价准备的确认标准、计提方法 1、资产负债表日，存货应当按照成本与可变现净值孰低计量。存货成本高 于其可变现净值的，应当计提存货跌价准备，计入当期损益。 2、原材料和低值易耗品按照存货类别计提存货跌价准备，对开发产品按存 货单项计提存货跌价准备。 3、资产负债表日， ...

证券代码：600322 证券简称：津投城开 公告编号：2025—096 天津津投城市开发股份有限公司 关于 2025 年前三季度经营数据的公告 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。 根据《上海证券交易所上市公司自律监管指引第 3 号行业信息披露：第一号 ——房地产》等要求，天津津投城市开发股份有限公司（以下简称"公司"）现 将本报告期（2025 年 1 月至 2025 年 9 月）主要经营数据披露如下： 一、新增储备情况 截至 2025 年第三季度末，公司出租房地产的建筑面积为 5.88 万平方米；2025 年前三季度公司租金收入为 884.67 万元。 本报告期，公司新增土地储备 3.128 万平方米。 二、项目建设进展情况 截至 2025 年第三季度末： 公司施工面积 93.65 万平方米，比上年同期增加 5.49%。 本报告期公司无新开工面积，上年同期无新开工面积。 公司竣工面积 4.96 万平方米，比上年同期减少 85.31%。 三、项目销售情况 本报告期，公司（含全资、控股子公司、参股公司按权益计算）实现合 ...

Financial Performance - The company's operating revenue for the third quarter was CNY 323,649,155.78, representing a year-on-year increase of 144.84%[4] - The total profit for the period was a loss of CNY 280,718,803.29, with a year-to-date loss of CNY 822,024,611.71[4] - The net profit attributable to shareholders was a loss of CNY 269,643,041.83 for the quarter, and a loss of CNY 788,723,789.98 year-to-date[4] - The basic earnings per share for the quarter was -CNY 0.2438, and -CNY 0.7133 year-to-date[5] - The net profit for the first three quarters of 2025 was -823,307,789.14, compared to -218,579,891.51 in the same period of 2024, indicating a significant increase in losses[24] - The total comprehensive income for the current period was -822,359,087.48, compared to -218,579,891.51 in the previous period, reflecting a worsening overall financial performance[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,685,694,348.87, a decrease of 5.78% compared to the end of the previous year[5] - The company's total assets decreased from 13,463,648,252.18 to 12,685,694,348.87, a reduction of approximately 5.8%[20] - Total liabilities increased from 12,967,697,123.45 to 13,012,402,307.61, reflecting a slight increase of about 0.3%[20] - The equity attributable to shareholders was -CNY 770,861,342.76, reflecting a significant decrease of 4,657.60% compared to the previous year[5] - The company's equity attributable to shareholders decreased from 16,913,745.56 to -770,861,342.76, indicating a significant decline in shareholder equity[20] Cash Flow - The net cash flow from operating activities year-to-date was -CNY 25,488,867.18[4] - Operating cash inflow for the first three quarters of 2025 was CNY 1,531,366,910.59, an increase of 36% compared to CNY 1,126,018,807.61 in the same period of 2024[26] - Cash outflow from operating activities totaled CNY 1,556,855,777.77, slightly down from CNY 1,575,111,662.81 year-over-year[27] - Net cash flow from operating activities improved to -CNY 25,488,867.18, compared to -CNY 449,092,855.20 in the previous year, indicating a significant reduction in losses[27] - Cash inflow from investment activities was CNY 2,927,667.67, a substantial increase from CNY 200,404.80 in the same period last year[27] - Cash outflow from investment activities decreased to CNY 73,744.93 from CNY 16,719,624.39, reflecting a strategic reduction in capital expenditures[27] - Net cash flow from financing activities was -CNY 158,077,604.60, a decline from a positive CNY 401,971,997.06 in the previous year, indicating increased cash outflows for debt repayment and dividends[27] - Total cash and cash equivalents at the end of the period stood at CNY 51,027,431.92, down from CNY 85,644,023.69 year-over-year[27] Shareholder Information - The total number of common shareholders at the end of the reporting period was 64,286[13] - The largest shareholder, Tianjin State-owned Capital Investment Operation Co., Ltd., holds 190,186,440 shares, representing 17.20% of the total shares[13] Operational Challenges - The company continues to face challenges in covering its expenses due to insufficient profits, leading to ongoing losses[9] - The company has made significant adjustments to its major asset restructuring plan as of September 19, 2025[15] - The adjusted restructuring plan's implementation remains uncertain, pending negotiations and approvals[16] Other Financial Metrics - Non-recurring gains and losses for the period totaled CNY 575,677.51, with year-to-date non-recurring gains and losses amounting to CNY 7,480,931.07[8] - The company's cash and cash equivalents decreased from 407,919,045.07 RMB to 184,245,021.49 RMB, a decline of approximately 54.8%[18] - Accounts receivable increased from 1,555,545,467.61 RMB to 1,565,271,780.26 RMB, reflecting a growth of about 0.99%[18] - Inventory decreased from 9,252,079,891.58 RMB to 8,759,533,951.85 RMB, a reduction of approximately 5.3%[18] - The total current assets decreased from 11,970,403,105.64 RMB to 11,242,749,724.23 RMB, a decline of about 6.1%[18] - Long-term equity investments slightly decreased from 420,123,861.79 RMB to 412,567,253.15 RMB, a decrease of approximately 1.8%[18] - The company signed a change agreement regarding major asset replacement and fundraising on September 26, 2025[15] - Total operating revenue for the first three quarters of 2025 was 840,812,742.39, down from 1,021,910,983.36 in the same period of 2024, representing a decrease of approximately 17.7%[23] - Total operating costs increased to 1,567,005,828.08 from 1,387,299,645.79, marking an increase of about 12.9%[23] - The financial expenses for the first three quarters were 421,257,304.45, slightly down from 432,190,173.68, indicating a reduction in financial costs[24] - The company reported an investment loss of -7,329,480.98, a significant decline from the investment income of 64,049,298.22 in the previous year[24] - The basic and diluted earnings per share for the current period were both -0.7133, compared to -0.1944 in the previous period, showing a worsening in earnings performance[25] - Cash paid for employee compensation increased to CNY 76,873,113.62 from CNY 70,045,574.39, reflecting a rise in workforce costs[27] - Cash received from tax refunds was CNY 8,624,432.02, significantly lower than CNY 107,300,407.83 in the previous year, indicating changes in tax recovery dynamics[27]

Group 1 - The company Tianjin Jintou Urban Development Co., Ltd. is providing a guarantee for its subsidiary Tianjin Haijing Industrial Co., Ltd. for a loan agreement with Beijing Capital Development Co., Ltd. [2][4] - The registered capital of Tianjin Haijing Industrial Co., Ltd. is 500 million yuan, and it is a joint venture with a 50% shareholding from both Tianjin Jintou Urban Development and Beijing Capital Development [2] - A loan of 590 million yuan was agreed upon, with the company guaranteeing 50% of the loan amount and pledging its 50% equity in the subsidiary as collateral [2][4] Group 2 - The loan principal of 435 million yuan and interest of approximately 86.31 million yuan is due on October 28, 2025, with ongoing communication between the company and its partners regarding repayment solutions [4] - As of the announcement date, the company has provided a total of 6.514 billion yuan in guarantees for its subsidiaries, which is 38,317.65% of its audited net assets for the last fiscal year [5] - The company has not provided guarantees for any external third parties, except for those based on its own debts [5]

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、担保及子公司情况概述 天津海景实业有限公司（以下简称"海景公司"）注册资本50,000万元， 系天津津投城市开发股份有限公司（以下简称"津投城开"或"公司"）的控 股子公司，合资方为北京首都开发股份有限公司（以下简称"首开股份"）， 双方持股比例均为50%，主要负责天津河西区天津湾项目的开发建设。 证券代码：600322 证券简称：津投城开 公告编号：2025—095 天津津投城市开发股份有限公司 关于为子公司天津海景实业有限公司融资提供担保的进展公告 的补充协议，首开股份向海景公司提供的借款本金4.35亿元和利息8,631.125万 元于2025年10月28日到期。截至本公告披露日，公司与首开股份及海景公司保 持密切沟通并就借款偿还初步形成解决方案，公司与首开股份积极推动该事项 完成，维护公司及股东的合法权益。公司将持续关注进展情况，并依据监管要 求及时履行信息披露义务。 三、累计对外担保情况 截至本公告披露日，公司为控股股东、全资、控股、参股子公司的担保金 额为65.14 ...

Market Overview - On October 29, the Tianjin state-owned enterprise reform sector fell by 0.13% compared to the previous trading day, with Gui Faxiang leading the decline [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Key stocks in the Tianjin state-owned enterprise reform sector showed mixed performance, with Jin Kai New Energy (600821) rising by 1.93% to close at 5.81, and Gui Faxiang (002820) falling by 3.39% to close at 12.55 [1][2] - The trading volume and turnover for notable stocks included: - Jin Kai New Energy: 455,800 shares traded, turnover of 263 million yuan - Tianjin Port (600717): 253,400 shares traded, turnover of 122 million yuan - Gui Faxiang: 141,400 shares traded, turnover of 178 million yuan [1][2] Capital Flow - The Tianjin state-owned enterprise reform sector experienced a net outflow of 85.1 million yuan from institutional investors, while retail investors saw a net inflow of 108 million yuan [2][3] - Notable capital flows for specific stocks included: - Tianjin Investment City Development (600322): Net inflow of 24.4 million yuan from institutional investors - Jin Kai New Energy (600821): Net inflow of 13.05 million yuan from institutional investors - Gui Faxiang (002820): Net outflow of 9.5 million yuan from institutional investors [2][3]

Core Viewpoint - Tianjin Jintou Urban Development Co., Ltd. plans to divest its real estate development business by transferring related assets and liabilities to Tianjin Urban Operation Development Co., Ltd. for a nominal price of 1 yuan, with the assessed value of the assets at approximately -239 million yuan as of December 31, 2024 [1][4][5]. Group 1: Company Overview - Tianjin Jintou Urban Development Co., Ltd. is a state-controlled listed company with a history dating back to 1981, primarily engaged in real estate development and sales [4]. - The company has accumulated significant experience in land assessment, product design, and operational delivery over the years [4]. - The divestiture aims to allow the company to focus on lighter assets and more stable operations, particularly in property management [4][5]. Group 2: Financial Implications - Following the transaction, the company expects a significant reduction in total assets and liabilities, while net assets and net profits are projected to increase substantially, improving asset quality and capital structure [8]. - The company reported a net profit of -54,255.02 million yuan for the first half of 2025, indicating a 100.29% increase compared to the previous period, while total revenue dropped by 92.62% [8]. Group 3: Industry Context - The real estate sector is undergoing significant adjustments, with several companies divesting from real estate development due to operational pressures [9][10]. - The market is experiencing a decline in new housing sales and investment, leading to increased financial strain on developers [10]. - Analysts suggest that the role of real estate in driving economic growth is shifting, with the industry transitioning from a primary growth driver to a supportive role in urban development and housing stability [10].