证券代码：600649 证券简称：城投控股 公告编号：2025-041 上海城投控股股份有限公司 关于以集中竞价交易方式首次回购公司股份 暨股份回购进展公告 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： 回购方案首次披露日 2025/8/30，由董事会提议 回购方案实施期限 2025 年 8 月 28 日~2025 年 11 月 27 日 预计回购金额 0.5亿元~1亿元 回购用途 □减少注册资本 □用于员工持股计划或股权激励 □用于转换公司可转债 √为维护公司价值及股东权益 累计已回购股数 1,500,000股 累计已回购股数占总股本 比例 0.06% 累计已回购金额 7,045,937.99元 实际回购价格区间 4.64元/股~4.75元/股 一、回购股份的基本情况 上海城投控股股份有限公司（以下简称"公司"）董事会 于 2025 年 8 月 28 日召开第十一届董事会第二十七次会议，审 议通过了《关于以集中竞价交易方式回购公司股份的议案》， 同意公司使用不低于人民币 0.5 亿元且不超过人民币 1 亿元 ...

Core Viewpoint - Shanghai Urban Investment Holding Co., Ltd. has announced the progress of its first share repurchase through centralized bidding, aimed at maintaining company value and shareholder rights [1] Summary by Relevant Sections Share Repurchase Plan - The company's board approved the share repurchase plan on August 28, 2025, with an implementation period from August 28, 2025, to November 27, 2025 [1] - The expected repurchase amount is between 50 million to 100 million yuan [1] Repurchase Execution - As of the end of September, no repurchase had been executed [1] - On October 9, the company repurchased 1.5 million shares, accounting for 0.06% of the total share capital, with a transaction amount of 7,045,937.99 yuan [1] - The repurchase price ranged from 4.64 yuan to 4.75 yuan per share, in compliance with the plan and regulatory requirements [1] Future Actions - The company will repurchase shares as per regulations and disclose timely updates [1]

Investment Rating - The report maintains an "Overweight" rating for the real estate industry [4] Core Views - The current monetary policy stance in China is supportive, with measures to optimize down payment ratios and mortgage rates, potentially reducing interest expenses for over 50 million households by approximately 300 billion yuan annually [10][11] - The real estate sector is viewed as an early-cycle indicator, making it a key economic barometer [4] - The competitive landscape in the industry is improving, with leading state-owned enterprises and select mixed-ownership and private companies expected to benefit more in the future [4] - The report emphasizes a focus on first-tier and select second- and third-tier cities, which have shown better performance during sales rebounds [4] - Supply-side policies, including land storage and management of idle land, are critical areas to monitor for future developments [4] Summary by Sections Market Overview - The real estate index decreased by 0.2% this week, underperforming the CSI 300 index by 1.22 percentage points, ranking 11th among 31 sectors [12] - In the past week, 30 cities recorded new housing transaction areas of 186.1 million square meters, a 20.0% increase month-on-month but a 23.6% decrease year-on-year [23] New Housing Transactions - New housing transaction areas in first-tier cities reached 55.8 million square meters, up 11.6% month-on-month and up 12.5% year-on-year [23] - Second-tier cities saw transactions of 91.0 million square meters, a 41.9% increase month-on-month but a 20.5% decrease year-on-year [23] - Third-tier cities recorded 39.2 million square meters, down 4.1% month-on-month and down 50.6% year-on-year [23] Second-Hand Housing Transactions - The total transaction area for second-hand housing in 14 sample cities was 198.9 million square meters, a 1.4% increase month-on-month and a 13.9% increase year-on-year [31] - Year-to-date, the cumulative transaction area for second-hand housing is 7,815.4 million square meters, reflecting a 17.3% increase year-on-year [31] Credit Bond Issuance - This week, 14 credit bonds were issued by real estate companies, totaling 14.781 billion yuan, a 67.61 billion yuan increase from the previous week [41] - The net financing amount was 4.562 billion yuan, marking a significant increase of 111.56 billion yuan from the previous week [41]

根据中国银行间市场交易商协会出具的《接受注册通知 书》（中市协注[2025]MTN930 号），上海城投控股股份有限 公司（以下简称"公司"）获准注册中期票据，注册金额为 人民币 26 亿元，注册额度自《接受注册通知书》落款之日 起 2 年内有效。 公司近日成功发行 2025 年度第一期中期票据，具体发 行结果如下： 证券代码：600649 证券简称：城投控股 公告编号：2025-040 上海城投控股股份有限公司 2025 年度第一期中期票据发行结果公告 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。 公司本期中期票据发行相关文件详见北京金融资产交 易所（www.cfae.cn）、中国货币网（www.chinamoney.com.cn） 和上海清算所网站（www.shclearing.com）。 特此公告。 上海城投控股股份有限公司董事会 2025 年 9 月 27 日 2 | 名称 | 上海城投控股股份 有限公司 2025 年度 第一期中期票据 | 债券简称 | 25 沪 城 控 MTN001 | | --- | --- | ...

Core Viewpoint - The stock of Chengdu Investment Holdings has shown a mixed performance in recent trading sessions, with a year-to-date increase of 7.48% but a slight decline in the last five days [2]. Group 1: Stock Performance - On September 26, the stock price increased by 2.16%, reaching 4.74 CNY per share, with a trading volume of 30.61 million CNY and a turnover rate of 0.26% [1]. - Year-to-date, the stock has risen by 7.48%, with a 1.46% decline over the last five trading days, a 1.07% increase over the last 20 days, and a 12.86% increase over the last 60 days [2]. Group 2: Financial Performance - For the first half of 2025, the company reported a revenue of 5.93 billion CNY, representing a year-on-year growth of 807.72%, and a net profit attributable to shareholders of 153 million CNY, up 250.60% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 7.16 billion CNY in dividends, with 526 million CNY distributed over the last three years [3]. Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders increased to 68,400, with an average of 36,958 shares held per shareholder, a decrease of 0.24% from the previous period [2]. - The top ten circulating shareholders include Southern CSI Real Estate ETF, which increased its holdings by 398,400 shares, and Hong Kong Central Clearing Limited, which reduced its holdings by 6.78 million shares [3].

9月25日，城投控股盘中下跌2.11%，截至13:23，报4.63元/股，成交7746.11万元，换手率0.66%，总市 值115.96亿元。 截至6月30日，城投控股股东户数6.84万，较上期增加0.24%；人均流通股36958股，较上期减少0.24%。 2025年1月-6月，城投控股实现营业收入59.27亿元，同比增长807.72%；归母净利润1.53亿元，同比增长 250.60%。 分红方面，城投控股A股上市后累计派现71.63亿元。近三年，累计派现5.26亿元。 机构持仓方面，截止2025年6月30日，城投控股十大流通股东中，南方中证房地产ETF发起联接A （004642）位居第五大流通股东，持股1613.50万股，相比上期增加39.84万股。香港中央结算有限公司 位居第六大流通股东，持股1531.54万股，相比上期减少678.40万股。中证上海国企ETF（510810）位居 第八大流通股东，持股1510.55万股，相比上期增加429.33万股。南方中证1000ETF（512100）位居第九 大流通股东，持股1164.36万股，为新进股东。 责任编辑：小浪快报 资金流向方面，主力资金净流入596.70 ...

Investment Rating - The report rates the real estate sector as "Outperform the Market" [5] Core Insights - New home transaction area has turned positive on a month-on-month basis, with a year-on-year increase expanding. The transaction area for new homes reached 1.87 million square meters, up 11.8% month-on-month and 25.8% year-on-year, with a significant increase in year-on-year growth by 20.6 percentage points [5][15][24] - The Shanghai government has optimized the property tax policy for non-resident buyers, allowing for a tax exemption on 60 square meters per person for families purchasing second or more homes, effective from January 1, 2025 [1] Summary by Sections 1. Key City New Home Market, Second-Hand Home Market, and Inventory Tracking - In the week of September 13 to September 19, 2025, the new home transaction area increased month-on-month, while the second-hand home transaction area decreased month-on-month. The inventory area for new homes increased month-on-month, and the de-stocking cycle rose [15] - New home transaction volume in 40 cities was 19,000 units, up 12.8% month-on-month and 37.8% year-on-year. The new home transaction area was 1.87 million square meters, with similar increases [16][24] - The inventory of new homes in 12 cities was 1.404 million units, with a month-on-month increase of 0.5% and a year-on-year decrease of 15.0% [27][39] 2. Land Market Tracking - The total land transaction area across 100 cities was 1.115 million square meters, down 10.9% month-on-month and 39.5% year-on-year. The total land transaction price was 14.33 billion yuan, down 49.1% month-on-month and 73.1% year-on-year [60][64] - The average land price per square meter was 1,289.5 yuan, with a month-on-month decrease of 42.9% and a year-on-year decrease of 55.5% [61][66] 3. Company Announcements and Bond Issuance - The total bond issuance in the real estate sector was 8.71 billion yuan, up 18.9% month-on-month and 2.1% year-on-year. The total repayment amount was 15.8 billion yuan, up 43.5% month-on-month and 102.6% year-on-year [54][56] - The report highlights key companies such as Binjiang Group, China Resources Land, and Yuexiu Property as potential investment opportunities based on their market positioning and performance [5][13]

Core Viewpoint - The company, Chengtou Holdings (600649), announced that it has not provided guarantees for its controlling shareholder, actual controller, or their affiliates, and there are no overdue guarantee matters [1] Summary by Relevant Categories - **Company Announcement** - Chengtou Holdings confirmed in a statement that it has not extended any guarantees to its controlling shareholder and actual controller, nor to their related parties [1] - The company also stated that there are no overdue guarantee issues [1]

证券代码：600649 证券简称：城投控股 公告编号：2025-039 上海城投控股股份有限公司 担保对象及基本情况 关于为子公司提供担保的进展公告 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： | 被担保人名称 | | 上海城投置地（集团）有限公司 | | --- | --- | --- | | 本次担保金额 | 80,000.00 | 万元 | | 担保对象 实际为其提供的担保余额 | 185,800.00 | 万元 | | 是否在前期预计额度内 | 是 □否 | □不适用：_________ | | 本次担保是否有反担保 | □是 否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0.00 | | --- | --- | | 截至本公告日上市公司及其控股子 | 771,800.00 | | 公司对外担保总额（万元） | | | 对外担保总额占上市公司最近一期 | 36.93 | | 经审计净资产的比例（%） | | | | □对外担保总额（含本次）超过上 ...

Investment Rating - The report maintains a "Buy" rating for the real estate development and service sectors [9][42]. Core Insights - Recent data indicates a month-on-month increase in both new and second-hand housing transactions, with new housing transaction area in 44 cities rising by 14% week-on-week [1][12]. - The inventory of new homes in 21 key cities has slightly decreased by 0.1% week-on-week, while the second-hand housing listings have increased by 0.1% compared to the previous week [1][35]. - The report highlights a recovery in transaction volumes and prices in key urban markets, suggesting potential valuation recovery for companies with resources in these areas [3]. Summary by Sections Market Overview - The Shanghai Composite Index fell by 0.44%, while the real estate development sector rose by 0.71% [2]. - The report notes a year-to-date decline of 6% in new housing transaction area across 44 cities, contrasting with a 14% increase in second-hand housing transactions [1][12]. Key Companies and Dynamics - Recommended companies include: - Chengjian Development (600266 CH) with a target price of 7.42 - Greentown China (3900 HK) with a target price of 13.69 - China Overseas Development (688 HK) with a target price of 19.08 - Chengdu Investment Holdings (600649 CH) with a target price of 6.40 - Greentown Services (2869 HK) with a target price of 6.56 - Wanwu Cloud (2602 HK) with a target price of 32.29 - Link REIT (823 HK) with a target price of 50.59 - Jianfa International Group (1908 HK) with a target price of 21.60 - China Resources Land (1109 HK) with a target price of 36.45 - New Town Holdings (601155 CH) with a target price of 18.05 - China Resources Mixc Life (1209 HK) with a target price of 46.60 [3][42]. Inventory and Sales Trends - As of September 14, the inventory of new homes in 21 cities has decreased by 0.1% week-on-week, with a year-on-year decline of 13% [32]. - The second-hand housing listings in 20 sample cities have increased to approximately 2.484 million units, up 0.1% from the previous week and 8.7% from the end of last year [35][1]. Performance Metrics - The report indicates that the new housing sales area in 44 cities has shown a year-on-year increase of 8% from September 1 to 19, with first-tier cities seeing a 22% increase [12]. - The second-hand housing sales area in 22 cities has increased by 26% year-on-year, with first-tier cities up 35% [22].