Investment Rating - The report rates the real estate industry as "Outperform" [1] Core Insights - New home transaction area increased on a month-on-month basis but decreased year-on-year, with a significant drop in the year-on-year rate of decline [1] - The inventory of new homes and the de-stocking cycle both decreased on a month-on-month and year-on-year basis [1] - The land market saw both volume and price increases, with a notable rise in the premium rate [1] - Domestic bond issuance by real estate companies decreased significantly, indicating tighter financing conditions [1] - The absolute return of the real estate sector increased, while the relative return compared to the CSI 300 also improved [1] Summary by Sections 1. Key City New Home Market, Second-hand Home Market, and Inventory Tracking - New home transaction area for 40 cities was 3.366 million square meters, up 37.0% month-on-month but down 25.7% year-on-year [1][18] - Second-hand home transaction area decreased by 2.7% month-on-month but saw a smaller year-on-year decline of 0.9% [1][18] - New home inventory area for 12 cities was 87.42 million square meters, down 0.3% month-on-month and down 16.3% year-on-year [1][45] 2. Land Market Tracking - Total land transaction area for 100 cities was 15.761 million square meters, up 47.9% month-on-month and up 25.6% year-on-year [1][14] - Total land transaction price reached 57.35 billion yuan, up 186.7% month-on-month and up 155.3% year-on-year [1][14] - The average floor price of land was 3,639 yuan per square meter, up 93.9% month-on-month and up 103.2% year-on-year [1][14] 3. Industry Policy Review - The report highlights ongoing government efforts to stabilize the real estate market through various supportive measures [1][6] 4. Sector Performance Review - The absolute return of the real estate sector was 3.1%, an increase of 4.8 percentage points from the previous week [1][15] - The sector's price-to-earnings ratio (PE) was 23.85X, up 0.68X from the previous week [1][15] 5. Company Announcements - The report includes a summary of key company announcements within the real estate sector for the week [1][15] 6. Bond Issuance Situation - The total bond issuance in the real estate sector was 4.79 billion yuan, down 43.0% month-on-month and down 37.1% year-on-year [1][15]

Meeting Overview - The annual general meeting of the company was held on June 30, 2025, at the company's headquarters in Shenzhen [2] - The meeting was convened by the board of directors and chaired by Chairman Xu Jiajun, utilizing a combination of on-site and online voting methods [2][3] Attendance - All 11 current directors and 5 current supervisors attended the meeting, along with the board secretary and other senior management [3] Resolutions Passed - The following resolutions were approved during the meeting: - 2024 Annual Board Work Report [4] - 2024 Annual Supervisory Work Report [5] - 2024 Annual Financial Report [5] - 2024 Profit Distribution Plan [5] - Reappointment of Deloitte Huayong as the auditing firm for 2025 [5] - 2024 Annual Report [5] - Authorization for external guarantees for 2025 [6] - Authorization for external financial assistance for 2025 [8] - Amendments to the company's articles of association [8] - Amendments to the rules of procedure for the general meeting [8] - Amendments to the rules of procedure for the board meeting [8] - Amendments to the related party transaction management system [8] - Amendments to the selection system for accounting firms [8] Voting Results - Resolutions 9, 10, and 11 required a special resolution and were passed with more than two-thirds of the voting rights held by attending shareholders [9] - All other resolutions were passed with a simple majority of the voting rights held by attending shareholders [9] Legal Verification - The meeting was witnessed by Beijing Zhonglun (Shenzhen) Law Firm, confirming that the convening and proceedings of the meeting complied with relevant laws and regulations [10] Documentation - The resolutions from the annual general meeting and the legal opinion from the law firm are available for review [11]

Meeting Overview - The shareholders' meeting was held on June 30, 2025, at the company's headquarters in Shenzhen [1] - The meeting was convened by the board of directors and chaired by Chairman Xu Jiajun, with voting conducted both in-person and online [1] Voting Results - All proposed resolutions were approved with significant majority votes, including: - Resolution A: 1,819,236,184 votes in favor (99.6242%), 5,748,230 votes against (0.3147%), and 1,112,600 abstentions (0.0611%) [1] - Resolution B: 1,818,821,483 votes in favor (99.6015%), 6,074,930 votes against (0.3326%), and 1,200,601 abstentions (0.0659%) [1] - Resolution C: 1,819,484,783 votes in favor (99.6379%), 5,515,830 votes against (0.3020%), and 1,096,401 abstentions (0.0601%) [1] Special Resolutions - Special resolutions (items 9, 10, 11) required a two-thirds majority and were successfully passed [4] - Other ordinary resolutions were passed with more than half of the voting rights present [4] Legal Compliance - The meeting was witnessed by Beijing Zhonglun (Shenzhen) Law Firm, confirming that the meeting's procedures complied with relevant laws and regulations [4] - The legal opinion stated that the meeting was convened and conducted in accordance with the Company Law and the company's articles of association [4] Documentation - The resolutions from the 2024 annual shareholders' meeting and the legal opinion from the law firm are available for review [4]

北京市中伦（深圳）律师事务所 关于金地（集团）股份有限公司 法律意见书 二〇二五年六月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金 山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 北京市中伦（深圳）律师事务所 关于金地（集团）股份有限公司 法律意见书 致：金地（集团）股份有限公司 北京市中伦（深圳）律师事务所（下称"本所"）接受金地（集团）股份有限 公司（下称"公司"）的委托，指派律师出席公司2024年年度股东大会（下称"本 次股东大会"），并根据《中华人民共和国公司法》 （下称"《公司法》"）、 《上市公 司股东会规则》 （下称"《股东会规 ...

Core Viewpoint - The company experienced significant financial challenges in 2024, with a reported revenue of approximately 75.34 billion and a net loss of 6.12 billion, reflecting a year-on-year decline of about 788.54% [1] Financial Performance - In 2024, the company recorded a contract amount of 68.51 billion, down 55.39% year-on-year, and a signed area of 4.714 million square meters, a decrease of 46.25% [1] - The company successfully navigated its debt peak in the previous year, repaying approximately 20 billion in public market debts without any defaults [3] - As of the end of 2024, the company had a total interest-bearing debt of 73.5 billion, with only about 5.6 billion in public debts remaining to be repaid [3] Market Conditions - The overall market remains in a state of oversupply, and the industry adjustment is not yet complete, presenting ongoing challenges for the company [1] - The company’s sales continued to decline into 2025, with a signed area of 238,000 square meters in May, down 51.92% year-on-year, and a contract amount of 3.12 billion, down 52.07% [4] Strategic Adjustments - The company is focusing on prudent operational adjustments, optimizing resource allocation, and enhancing organizational resilience to survive the current cycle and achieve sustainable development in the recovery phase [1][9] - The management emphasizes the importance of financial safety and a cautious investment strategy, particularly in light of the current market conditions [8] Future Outlook - The management believes that the Chinese real estate market will continue to exist long-term, with a projected annual sales scale of 4 to 5 trillion in 10 to 15 years [9] - The company is committed to adapting to market changes and policy directions to find new opportunities for survival and growth during the structural adjustments in the industry [9]

Core Viewpoint - The company, despite experiencing significant losses in 2024, remains confident in its ability to navigate the challenging real estate market and is focused on sustainable development and strategic adjustments [1][6]. Financial Performance - In 2024, the company reported a revenue of approximately 753.44 billion yuan, with a net loss attributable to shareholders of 61.15 billion yuan, marking a year-on-year decline of about 788.54% [1]. - The company's contracted sales amounted to 685.1 billion yuan, down 55.39% year-on-year, with a contracted area of 4.714 million square meters, a decrease of 46.25% [1]. - By the end of 2024, the company had a total interest-bearing debt of 735 billion yuan, with only about 5.6 billion yuan of public debt remaining to be repaid, indicating that the peak of debt repayment has passed [2]. Market Conditions - The overall market remains in a downturn, with the national market heat reaching a low of 15% in September 2023, recovering to around 50% in October but still below previous highs [3]. - The company has seen a significant drop in sales, with a monthly average sales scale decreasing from approximately 60 billion yuan in 2023 to about 30 billion yuan in 2024 [3]. Strategic Focus - The company plans to continue a cautious approach to investment, focusing on core business areas and optimizing resource allocation while ensuring financial safety [4][5]. - The management emphasizes the importance of adapting to market changes and policy directions to find new opportunities for survival and growth during the ongoing structural adjustments in the industry [5][6]. Future Outlook - The company believes that the real estate market in China will continue to exist long-term, with projected annual sales remaining between 4 trillion to 5 trillion yuan in the next 10 to 15 years [5]. - The management is confident that despite the challenges, there will be opportunities for resilient companies to thrive in the evolving market landscape [6].

证券代码：600383 证券简称：金地集团 公告编号：2025-025 金地（集团）股份有限公司 2024年年度股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 6 月 30 日 （二） 股东大会召开的地点：深圳市福田区福田街道岗厦社区深南大道 2007 号金地中心 32 层 （三） 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 753 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,826,097,014 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 40.4488 | | 份总数的比例（%） | | （四） 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，董事长徐家俊先生主持会议；本次会议以现场 投票与网络投票相结合的方式进行表决；本 ...

北京市中伦（深圳）律师事务所 关于金地（集团）股份有限公司 2024 年年度股东大会的 法律意见书 2024 年年度股东大会的 法律意见书 二〇二五年六月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 北京市中伦（深圳）律师事务所 关于金地（集团）股份有限公司 本次会议采用现场会议和网络投票相结合的方式进行。本次会议的现场会议 于 2025 年 6 月 30 日上午 9:30 在深圳市福田区福田街道岗厦社区深南大道 2007 2 法律意见书 号金地中心 32 层如期召开。公司股东通过上海证券交易所股 ...

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors [4][31]. Core Insights - The real estate market is showing signs of recovery with a week-on-week increase in both new and second-hand property transactions, indicating a potential stabilization in the market [4][31]. - The report emphasizes the need for continued policy support to enhance market conditions, particularly in light of the ongoing inventory reduction trends [4][31]. Industry Data Summary New Housing Transactions - In the week of June 21-27, 2025, 34 key cities recorded a total new housing transaction volume of 3.792 million square meters, representing a week-on-week increase of 51.1% [5][8]. - Year-on-year, new housing transactions in June decreased by 13%, with first and second-tier cities seeing a decline of 11% and third and fourth-tier cities experiencing a 26% drop [8][9]. Second-Hand Housing Transactions - For the same week, second-hand housing transactions in 13 cities remained stable with a slight increase of 0.5%, while the cumulative transaction volume for June showed a year-on-year decrease of 5% [13][22]. Inventory and Supply - In the week of June 21-27, 2025, 15 cities launched 1.82 million square meters of new housing, with a sales-to-launch ratio of 0.85, indicating ongoing inventory management challenges [22][31]. - The total available housing inventory in these cities was 89.79 million square meters, reflecting a week-on-week increase of 0.3% [22][31]. Policy and News Tracking - The report highlights key policy developments aimed at stabilizing the real estate market, including measures to support first-time homebuyers and families with multiple children [31][34]. - Recent statements from government officials indicate a commitment to expanding domestic demand and enhancing consumer confidence in the real estate sector [31][34].

股票代码：600383 股票简称：金地集团 公告编号：2025-024 金地（集团）股份有限公司 科 学 筑 家 关于为南京项目公司融资提供担保的公告 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个别及连带责任。 重要内容提示： 一、 担保情况概述 作出批准，授权担保范围包括公司向公司及控股子公司的信贷业务以及其他业务 提供担保，新增担保总额度不超过人民币 250 亿元，该授权尚在有效期内。本次 担保事项在上述授权范围内，无需另行召开董事会及股东大会审议。 二、 被担保人基本情况 项目公司名称：南京威磐房地产开发有限公司 成立日期：2020 年 5 月 8 日 注册地：南京市 经营范围：许可项目：房地产开发经营（依法须经批准的项目，经相关部门 批准后方可开展经营活动，具体经营项目以审批结果为准）。一般项目：物业管 理；住房租赁；商业综合体管理服务；企业管理（除依法须经批准的项目外，凭 营业执照依法自主开展经营活动）。 金地（集团）股份有限公司（以下简称"公司"）之子公司深圳威新软件科 技有限公司（下称"深圳威新"）通过间接的方式持有南 ...