经济观察网 浦东金桥近期未宣布重大未来事件，公司近期已完成治理结构调整并披露了2025年第三季 度财务报告。 2025年第三季度报告显示，单季度营收同比下降22.00%，但净利润同比增长159.29%；2025年前三季度 累计营收同比下降30.46%，归母净利润同比下降13.36%。2025年第一季度营收和净利润同比分别下降 43.88%和54.87%。 股价与资金表现 截至2026年1月30日，股价报10.60元/股，总市值约118.98亿元；主力资金当日净流出517.97万元。 当前无公开信息提及浦东金桥的特定未来计划（如土地竞拍或项目启动）。 以上内容基于公开资料整理，不构成投资建议。 公司结构与治理 2025年12月30日，公司召开临时股东大会和董事会，选举郭嵘为新董事长，取消监事会，并修订公司章 程及议事规则，明确注册资本为11.22亿元，经营范围包括房地产开发经营等。这些变化可能影响未来 治理结构。 业绩经营情况 ...

Market Overview - The Shanghai State-Owned Enterprise Reform sector declined by 0.36% compared to the previous trading day, with Shanghai Film leading the decline [1] - The Shanghai Composite Index closed at 4131.98, up 0.09%, while the Shenzhen Component Index closed at 14160.93, down 0.35% [1] Stock Performance - Notable gainers in the Shanghai State-Owned Enterprise Reform sector included: - YunSai ZhiLian (600602) with a closing price of 22.03, up 3.43% and a trading volume of 847,100 shares, totaling 1.863 billion yuan [1] - FeiLe YinXiang (600651) closed at 8.46, up 2.30% with a trading volume of 638,800 shares, totaling 54.5 million yuan [1] - PuDong JinQiao (600639) closed at 11.00, up 2.04% with a trading volume of 96,700 shares, totaling 10.5 million yuan [1] Capital Flow - The Shanghai State-Owned Enterprise Reform sector experienced a net outflow of 833 million yuan from institutional investors, while retail investors saw a net inflow of 833 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment among different investor types [2] Individual Stock Capital Flow - YunSai ZhiLian (600602) had a net inflow of 1.19 billion yuan from institutional investors, while retail investors had a net outflow of 789.63 million yuan [3] - ChengTou KongGu (600649) saw a net inflow of 36.75 million yuan from institutional investors, with retail investors experiencing a net outflow of 221.13 million yuan [3] - The overall trend shows that while some stocks attracted institutional investment, others faced significant retail selling pressure [3]

履行的审议程序：本次财务资助事项已经公司第十届董事会第二十七次 会议审议通过，无需提交股东会审议。 特别风险提示：作为控股股东，能够对被资助对象实施有效的业务、资 金管理和风险控制，确保公司资金安全。本次财务资助事项整体风险可控，借款 利率公平合理，不存在损害公司及股东、特别是中小股东利益的情形。 一、财务资助事项概述 （一）财务资助的基本情况 上海金桥出口加工区开发股份有限公司（以下简称公司）实质上的全资子公 司——上海金桥出口加工区房地产发展有限公司（以下简称"金桥房产"）与公 司的控股股东——上海金桥（集团）有限公司（以下简称"金桥集团"）于 2021 年 12 月 1 日联合竞得自贸区临港新片区综合产业片区 ZH-02 单元的 3 幅国有建 设用地使用权（详见公司于 2021 年 12 月 2 日披露的编号为临 2021-029 号的《关 证券代码：600639、900911 证券简称：浦东金桥、金桥 B 股 公告编号：2026-002 上海金桥出口加工区开发股份有限公司 关于向控股子公司提供财务资助的公告 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 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The GDP growth in Q4 2025 was 4.5%, and the full - year growth target of 5% was achieved, meeting market expectations. The market will discuss the economic growth expectations for 2026 and the Two Sessions' target settings. For the bond market, the central bank's attitude is the key factor in 2026, and a total interest - rate cut is expected in Q2 [27]. - The central bank's resumption of bond - buying may be a long - term consideration, and the continuity of bond - buying is high. In 2026, the imbalance between supply and demand in the bond market needs attention, with the core being demand. The bond market still needs to consider the impacts of "imbalance between supply and demand, expectations of rising prices, and re - balancing of asset allocation due to capital diversion" [28]. 3. Summary by Directory 3.1 Macro Data Quick View - In December 2025, GDP at constant prices had a quarterly - on - quarterly growth of 4.5%, lower than the previous quarter's 4.8% and the same period last year's 5.4% [1]. - The manufacturing PMI in December 2025 was 50.1%, up from 49.8% in the previous month and the same as the same period last year [1]. - The non - manufacturing PMI for business activities in December 2025 was 50.2%, up from 50.0% in the previous month but lower than 52.2% in the same period last year [1]. - The monthly value of social financing scale in December 2025 was 2207.5 billion yuan, down from 3529.9 billion yuan in the previous month and 2853.7 billion yuan in the same period last year [1]. - Various monetary indicators such as M0, M1, M2, and new RMB loans also showed different trends in December 2025 compared with the previous month and the same period last year [1]. - CPI in December 2025 had a year - on - year growth of 0.8%, up from - 0.3% in the previous month and 0.1% in the same period last year; PPI was - 1.9%, up from - 2.3% in the previous month and the same period last year [1]. - The cumulative year - on - year growth of fixed - asset investment completion in December 2025 was - 3.8%, down from - 0.5% in the previous month and 3.2% in the same period last year [1]. - The cumulative year - on - year growth of total retail sales of consumer goods in December 2025 was 3.7%, down from 4.5% in the previous month but up from 3.5% in the same period last year [1]. - The year - on - year growth of export and import amounts in December 2025 was 6.60% and 5.70% respectively, down from 8.20% and 7.40% in the previous month and 10.67% and 0.84% in the same period last year [1]. 3.2 Commodity Investment Reference 3.2.1 Comprehensive - The National Development and Reform Commission is planning major high - tech projects for the 15th Five - Year Plan period, formulating an implementation plan for the strategy of expanding domestic demand from 2026 - 2030, and considering setting up a national - level merger and acquisition fund. It will also promote the expansion and quality improvement of the service industry [2]. - The LPR in January 2026 remained unchanged for the 8th consecutive month, with the 1 - year LPR at 3.0% and the 5 - year - plus LPR at 3.5% [2]. - Shanghai introduced 18 measures to enhance the influence of non - ferrous metal commodities and global pricing, including supporting settlement through the Commodity Clearing Link and opening up futures and options varieties [3]. - The Shanghai Futures Exchange adjusted the trading margin ratios and price limit ranges for copper, aluminum, gold, and silver futures contracts [3]. - The Shanghai International Energy Exchange Center adjusted the trading margin ratios and price limit ranges for international copper futures contracts [4]. - On January 20, 37 domestic commodity varieties had positive basis, and 32 had negative basis, with significant differences in basis among different varieties [4]. 3.2.2 Metals - On the morning of January 21, New York gold futures exceeded $4780 per ounce, and domestic gold jewelry prices also increased, with some brands' pure gold prices exceeding 1450 yuan per gram [5]. - "Investment copper bars" have become popular recently, with a 1000 - gram copper bar costing 180 - 288 yuan in Shenzhen Shuibei Market [5]. - The Polish central bank approved a plan to buy up to 150 tons of gold, increasing its gold reserves to 700 tons [5]. - On January 19, the inventories of lead, tin, zinc, and copper in the London Metal Exchange reached new highs, while the inventories of cobalt and aluminum reached new lows [6]. - As of January 20, the holdings of the world's largest gold ETF, SPDR Gold Trust, decreased by 0.37%, or 4.01 tons, to 1081.66 tons [6]. 3.2.3 Coal, Coke, Steel, and Minerals - During the 14th Five - Year Plan period, Shanxi produced 65 billion tons of coal, with an output of over 13 billion tons in 2025, an increase of 19 billion tons compared with the 13th Five - Year Plan [8]. - The first shipment of nearly 200,000 tons of Simandou iron ore arrived in China on January 17, enhancing global iron ore supply [8]. 3.2.4 Energy and Chemicals - Domestic gasoline and diesel prices increased by 85 yuan per ton from January 20, 24:00, due to rising international oil prices [9]. - The US government obtained 50 million barrels of oil from Venezuela and sold part of it on the open market [9]. - Venezuela officially launched the export of liquefied petroleum gas [9]. 3.2.5 Agricultural Products - Brazil's corn and soybean exports in January 2026 are expected to be 3.45 million tons and 3.79 million tons respectively, higher than the previous week's forecasts, while soybean meal exports are expected to be 1.82 million tons, the same as the previous week [10]. - As of January 15, the EU's soft wheat exports in the 2025/26 season were 11.8 million tons, slightly lower than the same period last year [10]. - The US export inspection volumes of soybeans, wheat, and corn were 1,336,684 tons, 392,611 tons, and 1,483,622 tons respectively [11]. 3.3 Financial News Compilation 3.3.1 Open Market - On January 20, the central bank conducted 324 billion yuan of 7 - day reverse repurchase operations, with a net withdrawal of 34.6 billion yuan due to 358.6 billion yuan of reverse repurchase maturities [12]. 3.3.2 Key News - A package of policies to promote domestic demand through fiscal - financial coordination was introduced, including a 500 - billion - yuan special guarantee plan for private investment and loan interest - subsidy policies for small and medium - sized enterprises [13]. - The National Development and Reform Commission stated that in 2026, macro - policies will focus on strengthening the domestic cycle, expanding domestic demand, and promoting high - tech projects [13]. - The Ministry of Finance said that in 2026, the fiscal deficit, debt scale, and expenditure will remain at necessary levels, and ultra - long - term special treasury bonds will continue to be issued [14]. - The Ministry of Natural Resources and the Ministry of Housing and Urban - Rural Development introduced measures to support urban renewal [15]. - The preferential tax policies for community - based family services such as elderly care, childcare, and housekeeping were extended from January 1, 2026, to December 31, 2027 [16]. - The latest LPR remained unchanged for the 8th consecutive month since May 2025, and experts believe that the stable macro - economy is the main reason [17]. - Beijing's 2026 construction land supply plan was announced, with specific land allocations for commercial and affordable housing and a focus on urban renewal [18]. - Guangzhou is promoting legislation for the renewal of state - owned land housing, with a planned fixed - asset investment of 120 billion yuan for urban village renovation in 2026 [18]. - The Greenland crisis and fiscal pressure concerns led to a global bond market sell - off, with significant fluctuations in Japanese and US bond yields [18]. - The Japanese Finance Minister tried to calm the bond market, emphasizing the responsibility and sustainability of fiscal policies [18]. - All Japanese central bank observers predict that the benchmark interest rate will remain unchanged on Friday, and the government may intervene in the foreign exchange market if the yen depreciates [19]. - There were several bond - related events, including payment due dates and corporate management changes [19]. 3.3.3 Bond Market Summary - China's bond market showed positive trends, with falling yields on spot bonds and rising prices of bond futures. The money market was generally stable, but the DR001 rate increased due to the tax period [20]. - The exchange - traded bond market had different performances among different bond types, with some bonds rising and some falling [21]. - The CSI Convertible Bond Index and the Wind Convertible Bond Equal - Weighted Index both declined, with significant differences in individual bond performances [22]. - Most money market interest rates and Shibor short - term rates increased [22]. - Bank - to - bank repurchase fixed - rate and silver - bank repurchase fixed - rate also showed upward trends [23]. - The winning bid yields and multiples of financial bonds issued by the Agricultural Development Bank and the National Development and Reform Commission were announced [23][24]. - European and US bond yields generally increased [24][25]. 3.3.4 Foreign Exchange Market - The on - shore RMB against the US dollar rose 33 basis points to 6.9603 at 16:30, and the central parity rate rose 45 basis points to 7.0006 [26]. - At the New York close, the US dollar index fell 0.50% to 98.55, and most non - US currencies rose [26]. 3.3.5 Research Report Highlights - CITIC Securities believes that the central bank's attitude is crucial for the 2026 bond market, and a total interest - rate cut is expected in Q2 [27]. - Shenwan Hongyuan Fixed - Income believes that the central bank's bond - buying is likely to be continuous, and in 2026, attention should be paid to the imbalance between supply and demand in the bond market, with the interest rate level expected to be lower in the first half and higher in the second half [28]. 3.4 Stock Market Key News - On Tuesday, the A - share market adjusted, with a style shift from high - valuation growth sectors to value sectors. The Shanghai Composite Index fell 0.01%, and the trading volume increased [30]. - The Hong Kong stock market continued to adjust, with technology stocks leading the decline and real - estate stocks rising. Southbound funds had a net purchase of nearly HK$3.7 billion [31]. - As of January 20, over 500 A - share companies had disclosed 2025 performance forecasts, with about 200 expecting growth and over 100 expecting a net profit increase of over 100%. However, some sectors such as photovoltaic, liquor, and pig farming faced performance pressure [31]. 3.5 Today's Reminders - On January 21, 230 bonds will be listed, 122 bonds will be issued, 82 bonds will be settled, and 207 bonds will pay principal and interest [29].

Core Viewpoint - Pudong Jinqiao announced significant corporate governance changes, including the cancellation of the supervisory board and the appointment of a new chairman [1] Group 1: Corporate Governance Changes - The company will hold its first extraordinary shareholders' meeting and the 26th meeting of the 10th board of directors on December 30, 2025 [1] - Amendments to the company's articles of association and its attachments will be made during these meetings [1] - Guo Rong has been elected as the chairman of the current board of directors [1] Group 2: Regulatory Compliance - On January 7, 2026, the company completed the necessary business registration changes and obtained a new business license from the Shanghai Municipal Market Supervision Administration [1]

证券代码：600639、900911 证券简称：浦东金桥、金桥 B 股 公告编号：2026-001 法定代表人：郭嵘 住所：中国（上海）自由贸易试验区新金桥路 27 号 10 幢 107 室 上海金桥出口加工区开发股份有限公司 关于完成工商变更登记的公告 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。 上海金桥出口加工区开发股份有限公司（以下简称"公司"）于 2025 年 12 月 30 日分别召开 2025 年第一次临时股东会、第十届董事会第二十六次会议，修 改公司章程及其附件并取消监事会、增补董事及独立董事，并选举郭嵘董事为本 届董事会董事长，详见公司于 2025 年 12 月 31 日披露的《2025 年第一次临时股 东大会决议公告》（编号：2025-029）、《第十届董事会第二十六次会议决议公告》 （公告编号：临 2025-030）。 2026 年 1 月 7 日，相关工商变更登记手续已办理完毕，并取得上海市市场 监督管理局换发的《营业执照》，相关公司登记事项如下： 统一社会信用代码：91310000132209359 ...

Core Viewpoint - The stock of Pudong Jinqiao has shown a slight increase of 2.04% as of January 5, with a market capitalization of 11.763 billion yuan, indicating a stable performance in the real estate sector despite recent fluctuations in stock price [1]. Group 1: Stock Performance - As of January 5, Pudong Jinqiao's stock price reached 10.48 yuan per share, with a trading volume of 61.7058 million yuan and a turnover rate of 0.70% [1]. - Year-to-date, the stock has increased by 2.04%, with a 5-day increase of 2.44%, a 20-day increase of 0.96%, and a 60-day decrease of 3.14% [1]. Group 2: Financial Performance - For the period from January to September 2025, Pudong Jinqiao reported a revenue of 1.415 billion yuan, a year-on-year decrease of 30.46%, and a net profit attributable to shareholders of 338 million yuan, down 13.36% year-on-year [2]. - Cumulative cash dividends since the A-share listing amount to 5.393 billion yuan, with 1.556 billion yuan distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, Pudong Jinqiao had 60,500 shareholders, a decrease of 4.97% from the previous period [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the fourth largest shareholder with 5.929 million shares, and Southern CSI Real Estate ETF as the tenth largest with 4.2584 million shares, which saw a reduction of 82,600 shares compared to the previous period [3]. Group 4: Business Overview - Pudong Jinqiao, established on October 7, 1993, primarily engages in the development, operation, and management of the Shanghai Jinqiao Industrial Park and Biyun International Community, focusing on various real estate projects [1]. - The company's revenue composition includes 87.58% from real estate leasing, 7.30% from hotel apartments, 4.35% from real estate sales, 0.50% from property management, and 0.27% from other sources [1].

Core Viewpoint - Pudong Jinqiao announced the approval of the proposal to supplement members of the board's specialized committees during the 26th meeting of its 10th board of directors [2] Group 1 - The announcement was made on December 30 [2] - The decision was made during a board meeting [2] - The proposal specifically pertains to the addition of members to the board's specialized committees [2]

证券代码：600639 、900911 证券简称：浦东金桥、金桥 B 股 公告编号：2025-029 上海金桥出口加工区开发股份有限公司 2025年第一次临时股东大会决议公告 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 | 1、出席会议的股东和代理人人数 | 255 | | --- | --- | | 其中：A 股股东人数 | 192 | | 境内上市外资股股东人数（B 股） | 63 | | 2、出席会议的股东所持有表决权的股份总数（股） | 611,904,666 | | 其中：A 股股东持有股份总数 | 586,073,564 | | 境内上市外资股股东持有股份总数(B 股) | 25,831,102 | | 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 | 55.6384 | (一) 股东大会召开的时间：2025 年 12 月 30 日 (二) 股东大会召开的地点：OfficePark 金科园会议中心 B1 多功能厅，地址： 上海市浦东新 ...

证券代码：600639、900911 证券简称：浦东金桥、金桥 B 股 公告编号：临 2025-030 上海金桥出口加工区开发股份有限公司 第十届董事会第二十六次会议决议公告 本次会议的召开符合有关法律、行政法规、部门规章、规范性文件和公司章 程的规定。 二、董事会会议审议、表决情况 （一）选举郭嵘董事为公司本届董事会董事长。 表决结果：同意 7 票、反对 0 票、弃权 0 票。 （二）审议通过公司《关于增补董事会专门委员会委员的议案》，增补郭嵘 董事为战略委员会主任委员、提名委员会委员，增补王俭保董事为审计委员会、 薪酬与考核委员会委员，增补张军董事为审计委员会委员，增补季诺董事为提名 委员会主任委员、审计委员会、薪酬与考核委员会委员，增补邵丽丽董事为审计 委员会主任委员、提名委员会、薪酬与考核委员会委员。 表决结果：同意 7 票、反对 0 票、弃权 0 票。 各专门委员会成员名单如下： 1、战略委员会 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 本次董事会会议通知和材料于 2025 年 12 月 ...