证券代码：600649 证券简称：城投控股 公告编号：2025-007 上海城投控股股份有限公司 第十一届监事会第八次会议决议公告 重要内容提示： 本次监事会所有议案均获通过。 一、监事会会议召开情况 上海城投控股股份有限公司（以下简称"公司"）监事会 于 2025 年 3 月 17 日以书面方式向各位监事发出了召开第十 一届监事会第八次会议的通知。会议于 2025 年 3 月 27 日下 午 15 时在上海市虹口区吴淞路 130 号 21 楼会议室以现场方 式召开。本次会议应出席监事 3 人，现场出席监事 2 人，监 事吴晓颖女士以通讯表决方式参会。本次会议的召开符合有 关法律法规和《公司章程》的规定。 二、监事会会议审议情况 （一）监事会以 3 票同意、0 票反对、0 票弃权审议通 过了《公司 2024 年度监事会工作报告》 （二）监事会以 3 票同意、0 票反对、0 票弃权审议通 过了《关于 2024 年度内部控制评价报告的议案》 （三）监事会以 3 票同意、0 票反对、0 票弃权审议通 过了《公司 2024 年年度报告》及摘要 （四）监事会以 3 票同意、0 票反对、0 票弃权审议通 1 本公司监事会 ...

Financial Performance - The company reported a net profit of -49,293,004.91 CNY for the fiscal year 2024, with a total distributable profit of 7,989,942,511.21 CNY after accounting for previous undistributed profits and dividend distributions [6]. - Total revenue for 2024 reached 9,432,295,856.58 CNY, representing a 268.60% increase compared to 2,558,963,969.95 CNY in 2023 [20]. - The net profit attributable to shareholders decreased by 41.58% to 242,712,915.85 CNY from 415,465,384.94 CNY in the previous year [20]. - The basic earnings per share for 2024 was 0.10 CNY, down 41.58% from 0.17 CNY in 2023 [21]. - The company's total assets increased by 8.62% to 84,669,442,670.21 CNY at the end of 2024, compared to 77,947,559,196.55 CNY at the end of 2023 [20]. - Cash flow from operating activities for 2024 was 2,656,461,453.77 CNY, a 26.75% increase from 2,095,748,225.61 CNY in 2023 [20]. - The weighted average return on net assets decreased to 1.16% in 2024 from 2.00% in 2023, a decline of 0.84 percentage points [21]. - The company's operating revenue increased by 268.60% compared to the same period last year, primarily due to the completion and delivery of real estate projects [24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 18.66% year-on-year, primarily due to a decline in net profit from real estate operations [24]. Dividend Policy - The company plans to distribute a cash dividend of 0.40 CNY per share (including tax) to all shareholders [6]. - The cash dividend amount for the most recent fiscal year was 100,180,030.72 RMB, representing 41.28% of the net profit attributable to ordinary shareholders [144]. - Over the last three fiscal years, the cumulative cash dividend amount was 525,945,161.28 RMB, with a cash dividend ratio of 109.51% based on the average annual net profit [147]. - For the 2024 fiscal year, the company plans to distribute a cash dividend of 0.40 RMB per 10 shares, with a total distributable profit of 7,989,942,511.21 RMB [141]. Real Estate Development - The company completed approximately 240,000 square meters of construction and started about 100,000 square meters during the year [34]. - The company secured land reserves of 75,000 square meters through participation in urban renewal and village reconstruction projects [35]. - The company achieved a rental rate of over 92% in key communities, with the newly opened community reaching nearly 95% occupancy by year-end [36]. - The company is focusing on urban renewal, mid-to-high-end residential, and affordable rental housing projects in key investment areas [53]. - The company has ongoing projects with a total planned construction area of 1,000,000 square meters across various districts in Shanghai [78]. Financial Investments - The financial segment received approximately 56 million yuan in dividends from listed securities during the reporting period [38]. - The company held listed securities valued at approximately 4.674 billion yuan at the end of the reporting period, with a project exit generating a cash return of 430 million yuan and an investment income of 91 million yuan [39]. - The company sold 27 million shares of Haitong Securities, generating a pre-tax investment gain of 27 million RMB [86]. - The investment in Haitong Securities had an initial cost of 450 million RMB, with a fair value change of 90.08 million RMB during the period [86]. Market Trends - In 2024, the national key 65 cities saw a 19% year-on-year decline in the transaction scale of operating land, with residential land transactions down 28% [43]. - New residential property sales area in 2024 decreased by 12.9% year-on-year, with sales revenue down 17.1% [44]. - The total investment in real estate development in 2024 was 10.028 trillion yuan, a decrease of 10.6% compared to the previous year [44]. - The rental housing market in Shanghai saw a 287% increase in market-oriented projects, providing approximately 161,000 housing units, a 140% increase from the end of 2023 [47]. Corporate Governance - The board of directors consists of 3 independent directors, meeting the legal requirement of at least one-third of the total board members [109]. - The company held 3 independent director meetings during the reporting period to review related party transactions and appoint additional directors [109]. - The supervisory board is composed of 3 members, including 1 employee supervisor, complying with legal regulations [110]. - The company maintains independence from its controlling shareholder in business, personnel, assets, and financial matters, with no instances of fund occupation by the controlling shareholder [111]. - A total of 43 temporary announcements were disclosed during the reporting period, adhering to principles of fairness and transparency [112]. Employee Development - The company employed a total of 491 staff members, with 151 in the parent company and 340 in major subsidiaries [131]. - The company conducted over 170 training sessions in 2024, with approximately 2,000 employee participations, achieving a coverage rate of 100% [134]. - The company has implemented a salary distribution policy that emphasizes efficiency while ensuring fairness, aligning compensation with responsibilities, capabilities, and performance [132]. - The company aims to deepen employee understanding of ESG concepts through specialized training sessions [135]. Environmental and Social Responsibility - The company invested 22 million RMB in environmental protection during the reporting period [153]. - The company successfully reduced carbon emissions by 120 tons through the installation of a rooftop distributed photovoltaic power station, generating 290,000 kWh annually [155]. - The company donated 1.5 million RMB to the local Red Cross, responding to a disaster in Zhaotong City [157][158]. - A total of 1.4424 million RMB was invested in poverty alleviation and rural revitalization projects, benefiting 2,000 people [159]. Strategic Initiatives - The company is actively pursuing technological innovation and sustainable development, emphasizing low-carbon and smart construction technologies [57]. - The company is focusing on creating a comprehensive real estate industry chain to drive sustainable growth and value creation [96]. - The company is enhancing its governance structure to align with the "15th Five-Year" strategic planning, focusing on value management and market-oriented operational improvements [101]. - The company is exploring a "basic + value-added" service model to enhance operational revenue through diversified leasing services [99].

证券代码：600649 证券简称：城投控股 公告编号：2025-006 上海城投控股股份有限公司 第十一届董事会第二十次会议决议公告 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。 （二）董事会以 9 票同意、0 票反对、0 票弃权审议通 过了《关于计提资产减值准备的议案》 董事会同意公司 2024 年度计提资产减值准备 1,936.42 1 重要内容提示： 本次董事会所有议案均获通过。 一、董事会会议召开情况 上海城投控股股份有限公司（以下简称"公司"）董事会 于 2025 年 3 月 17 日以书面方式向各位董事发出了召开第十 一届董事会第二十次会议的通知。会议于 2025 年 3 月 27 日 上午 10 时 30 分在上海市虹口区吴淞路 130 号 21 楼会议室 以现场方式召开。本次会议应出席董事 9 人，现场出席董事 9 人。本次会议的召开符合有关法律法规和《公司章程》的 规定。 二、董事会会议审议情况 （一）董事会以 9 票同意、0 票反对、0 票弃权审议通 过了《公司 2024 年度董事会工作报告》 万元，本次 ...

证券代码：600649 证券简称：城投控股 公告编号：2025-009 上海城投控股股份有限公司 2024 年度利润分配预案公告 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： 利润分配比例：每10股派发现金股利0.40元（含税）。 本次利润分配拟以实施权益分派股权登记日总股本扣减当日 公司回购专用证券账户中的股份数为基数，具体日期将在权益分派实 施公告中明确。 在实施权益分派的股权登记日前公司总股本发生变动的，拟维 持每股分配金额不变，相应调整分配总额，并将在相关公告中披露。 本次利润分配预案不触及《上海证券交易所股票上市规则》中 规定的可能被实施其他风险警示的情形。 一、2024 年度利润分配预案内容 （一）利润分配预案的具体内容 截至 2024 年 12 月 31 日，上海城投控股股份有限公司 （以下简称"公司"）母公司财务报表中未分配利润为 7,989,942,511.21 元。经董事会决议，公司 2024 年年度利 润分配预案如下： 公司拟以实施权益分派股权登记日总股本扣减公司回 购专用证券账户中的股 ...

证券代码：600649 证券简称：城投控股 公告编号：2025-014 上海城投控股股份有限公司 关于将已回购股份用途变更为注销并减少 注册资本的公告 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。 上海城投控股股份有限公司（以下简称"公司"）于 2025 年 3 月 27 日召开第十一届董事会第二十次会议，审议通过 了《关于将已回购股份用途变更为注销并减少注册资本的议 案》。公司拟将股份回购专用证券账户中的 25,074,866 股回 购股份的用途进行变更，由"出售"变更为"用于注销并减 少注册资本"，具体内容如下： 一、回购股份基本情况 公司于 2022 年 9 月 23 日召开第十届董事会第二十六次 会议，审议通过了《关于以集中竞价交易方式回购公司股份 方案的议案》，并于 2022 年 9 月 29 日披露了公司《关于以 集中竞价交易方式回购股份的回购报告书》，具体内容详见 公司临时公告（公告编号：2022-033）。 2 1 截至目前，公司暂未使用该次回购的股份，前述已回购 的股份 25,074,866 股存放于公司回 ...

证券代码：600649 证券简称：城投控股 公告编号：2025-010 上海城投控股股份有限公司 关于公司 2025 年度直接融资计划的公告 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。 为满足公司生产经营、项目建设、未来投资发展及还本 付息等需求，上海城投控股股份有限公司（以下简称"公司"） 及所属子公司拟通过发行债券、中期票据等多种渠道进行直 接融资。具体内容如下： 一、融资方式 包括但不限于信托融资、售后回租业务、发行公司债券、 企业债券、中期票据、北京金融资产交易所债权融资计划、 非金融企业债务融资工具、保险资金债权投资计划、资产证 券化（包括但不限于 CMBS、REITs、类 REITs、ABS 等）及其 他私募金融工具等方式。 二、融资额度 根据公司经营情况及未来投资发展需要，预计新增发行 总规模不超过 240 亿元。 三、担保方式 若融资方案涉及担保，主要提供以下方式： 1.由公司及所属控股子公司实物资产和股权资产提供 抵押担保； 1 2.由公司或全资子公司置地集团为所属控股子公司提 供信用担保； 3.法律、法 ...

一、主要会计数据和财务指标 前十大流通股东累计持有： 145976.8万股，累计占流通股比： 57.7%，较上期变化： -1568.96万股。 | 名称 持有数量(万股) | | 占总股本比例 (%) | 增减情况(万 股) | | --- | --- | --- | --- | | 上海城投(集团)有限公司 | 117531.86 | 46.46 | 不变 | | 弘毅(上海)股权投资基金中心(有限合伙) | 15035.29 | 5.94 | -1026.19 | | 全国社保基金六零二组合 | 3772.46 | 1.49 | 新进 | | 香港中央结算有限公司 | 2483.97 | 0.98 | 1108.77 | | 张国情 | 1521.12 | 0.60 | 189.07 | | 全国社保基金一一六组合 | 1406.83 | 0.56 | 新进 | | 海富通价值精选股票型养老金产品-中国民生银行股份 有限公司 | 1157.74 | 0.46 | 新进 | | 南方中证1000ETF | 1045.03 | 0.41 | -338.85 | | 华安景气领航混合A | 1020.91 | ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Views - The company is backed by Shanghai Urban Investment Group and has a strong foundation in Shanghai, with ample land reserves for urban renewal projects, which is expected to enhance its profitability [5]. - The company anticipates significant growth in net profit from 2024 to 2026, with projected figures of 720 million, 1.842 billion, and 2.077 billion yuan respectively, alongside an increase in earnings per share (EPS) [5]. Summary by Sections 1. Company Overview - Shanghai Urban Investment Holdings Co., Ltd. focuses on real estate development, operation, and finance, with a diversified product system including residential, affordable housing, rental housing, and commercial properties [16]. - The company has a history of over 30 years in the Shanghai real estate market, accumulating extensive project development experience [16]. 2. Development Business - The company achieved a record high in signed sales amounting to 17.53 billion yuan in 2024, a 113% increase year-on-year, driven by successful project launches [34]. - The average sales price exceeded 150,000 yuan per square meter, reflecting strong demand in key areas of Shanghai [34]. - The company has a robust pipeline with expected revenue from unsold properties projected to exceed 15 billion yuan in 2025 [49]. 3. Asset Management and Investment - The company’s asset management business includes office, commercial, and rental housing, with a total rental area of 325,700 square meters as of the end of 2024, showing a 5% year-on-year increase [7]. - The company successfully launched the largest public REIT for affordable housing in the Yangtze River Delta region, raising 3.05 billion yuan [59]. - Investment operations are stable, with a market value of listed securities held by the company reaching approximately 3.818 billion yuan as of mid-2024 [61]. 4. Financial Health - As of the first half of 2024, the company reported interest-bearing liabilities of 40.53 billion yuan, a decrease of 3.6% year-on-year, indicating improved debt structure [63]. - The company’s cash on hand reached 9.09 billion yuan, a 101% increase year-on-year, supporting future project developments [70]. - The average financing cost has decreased to 4.05% as of mid-2024, reflecting favorable market conditions for financing [64].

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [5]. Core Views - The company is backed by Shanghai Urban Investment Group and has a strong foundation in Shanghai, with ample land reserves for urban renewal projects. The report anticipates significant profit growth driven by its experience in affordable housing operations and clear investment exit strategies [5][6]. Summary by Sections 1. Company Overview - Shanghai Urban Investment Holdings Co., Ltd. focuses on real estate development, operations, and finance, leveraging over 30 years of experience in the Shanghai real estate market [16][17]. 2. Sales Performance - The company achieved a record sales amount of 175.3 billion yuan in 2024, a 113% year-on-year increase, with an average selling price exceeding 150,000 yuan per square meter [6][34]. - The company has a robust pipeline with significant projects in Huangpu, Changning, and Yangpu districts, contributing to its sales growth [34][38]. 3. Financial Performance - The company expects net profits of 720 million yuan, 1.84 billion yuan, and 2.08 billion yuan for 2024, 2025, and 2026, respectively, with earnings per share (EPS) projected at 0.28, 0.73, and 0.82 yuan [5][9]. - The company reported a total revenue of 8.4 billion yuan in 2022, which is expected to rise to 15.99 billion yuan in 2025 [9]. 4. Asset Management and Investment - The company has a total leased area of 325,700 square meters, with rental income of 298 million yuan, reflecting a 1% year-on-year increase [7][54]. - The company successfully launched the largest public REIT for affordable housing in the Yangtze River Delta, raising 3.05 billion yuan [59][60]. 5. Debt and Cash Flow - As of the first half of 2024, the company had interest-bearing liabilities of 40.53 billion yuan, a 3.6% decrease year-on-year, with an asset-liability ratio of 73.7% [63][64]. - The company reported cash on hand of 9.09 billion yuan, a 101% increase year-on-year, and a net operating cash flow of 5.77 billion yuan [69][70]. 6. Future Outlook - The company anticipates a significant increase in revenue from project completions, with expected turnover exceeding 15 billion yuan in 2025 [49][51]. - The company is actively expanding its land reserves through urban renewal projects, with planned investments exceeding 18.3 billion yuan [50][53].

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [5]. Core Views - The company is backed by Shanghai Urban Investment Group and has a strong foundation in Shanghai, with ample land reserves for urban renewal projects, which are expected to enhance its profitability [5]. - The projected net profits for the company from 2024 to 2026 are estimated to be 720 million, 1.842 billion, and 2.077 billion yuan respectively, with corresponding EPS of 0.28, 0.73, and 0.82 yuan [5]. Summary by Sections 1. Company Overview - Shanghai Urban Investment Holdings Co., Ltd. focuses on real estate development, operation, and finance, with a diversified product system including commercial and residential properties [16]. - The company has been operating in the Shanghai real estate market for over 30 years, accumulating significant development experience [16]. 2. Development Business - The company achieved a record high in signed sales amounting to 17.53 billion yuan in 2024, a year-on-year increase of 113%, with an average selling price exceeding 150,000 yuan per square meter [34]. - New land acquisitions in 2024 totaled nearly 10 billion yuan, enhancing the company's land reserve for future projects [46]. 3. Asset Management and Investment - The company’s asset management business includes office, commercial, and rental housing, with a total rental area of 325,700 square meters as of the end of 2024, reflecting a 5% year-on-year increase [53]. - The company successfully issued the largest public REIT for affordable rental housing in the Yangtze River Delta region, raising 3.05 billion yuan [59]. 4. Financial Health - As of the first half of 2024, the company had interest-bearing liabilities of 40.53 billion yuan, a decrease of 3.6% year-on-year, with an asset-liability ratio of 73.7% [63]. - The company reported cash on hand of 9.09 billion yuan as of the third quarter of 2024, a 101% increase year-on-year, indicating strong cash flow [70].