证券代码：600675 证券简称：中华企业 公告编号：临 2025-034 中华企业股份有限公司 关于召开2025年第一次临时股东大会的通知 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： 一、 召开会议的基本情况 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 11 月 27 日 14 点 00 分 召开地点：上海市闵行区东川路 3050 号紫藤宾馆 股东大会召开日期：2025年11月27日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (一)股东大会类型和届次 2025年第一次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 11 月 27 日 至2025 年 11 月 27 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交 ...

Core Viewpoint - The company, China Enterprises Co., Ltd., is set to hold a Q3 2025 earnings presentation on November 25, 2025, to discuss its financial performance and address investor inquiries [2][3][4]. Group 1: Meeting Details - The earnings presentation will take place on November 25, 2025, from 15:00 to 16:00 [4]. - The venue for the meeting is the Shanghai Stock Exchange Roadshow Center, and it will be conducted in an interactive online format [2][4]. - Investors can submit questions from November 18 to November 24, 2025, through the Roadshow Center website or via the company's investor relations email [2][5]. Group 2: Participants - Key participants in the meeting will include the company's General Manager, Duan Shilei, the Chief Financial Officer and Board Secretary, Gu Xin, and Independent Director, Shi Jianmei [4]. Group 3: Contact Information - For inquiries, investors can contact the Board Office, specifically Li Pingting, at the phone number 021-20772222 or via email at zhqydm@cecl.com.cn [6][7].

证券代码：600675 证券简称：中华企业 公告编号：临 2025-033 中华企业股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第 三季度报告的经营成果及财务指标的具体情况与投资者进行互动交 流和沟通，在信息披露允许的范围内就投资者普遍关注的问题进行回 答。 二、 说明会召开的时间、地点 （一）会议召开时间：2025 年 11 月 25 日（星期二）15:00-16:00 会议召开时间：2025 年 11 月 25 日 （星期二） 15:00-16:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 18 日 （星期二） 至 11 月 24 日 （星 期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过公司投资者 ...

Core Insights - As of November 6, a total of 111 stocks in the Shanghai and Shenzhen markets have experienced net buying from major funds for five consecutive days or more [1] - The stock with the longest consecutive net buying days is ST Zhongdi, which has seen net buying for 16 trading days [1] - Other notable stocks with significant net buying days include CITIC Metal, Haitian Flavoring, Guorui Technology, Derma, Xiamen Airport, China Enterprise, Bailong Oriental, and Hangcha Group [1]

Investment Rating - The investment rating for the real estate industry is "Positive" (maintained) [3] Core Views - The real estate sector is a crucial asset allocation and investment direction for Chinese households, with stable housing prices being significant for facilitating economic circulation. The 20th Central Committee's Fourth Plenary Session emphasized promoting high-quality development in real estate, indicating potential policy support [4][48] - There is an anticipated wave of development for high-quality housing due to policy guidance and changes in supply-demand structure, with a focus on core cities and strong land acquisition capabilities [4][48] Market Performance - The Shanghai Composite Index rose by 0.1%, the Shenzhen Component Index rose by 0.7%, and the ChiNext Index rose by 0.5%. The real estate sector (Shenwan) fell by 0.7% during the week [4][7] - In the new housing market, 42 key cities recorded a total transaction of 2.43 million square meters, a week-on-week increase of 4.8%, but a year-on-year decrease of 41.1% [14][18] - For the month of October, new housing transactions in 42 key cities totaled 8.43 million square meters, a year-on-year decrease of 34.6% [18][19] Data Tracking New Housing Transactions - In the week of October 25-31, new housing transactions in 42 key cities totaled 2.43 million square meters, with a year-on-year decrease of 41.1% [14] - For October, new housing transactions totaled 8.43 million square meters, a year-on-year decrease of 34.6% [18] Second-Hand Housing Transactions - In the week of October 25-31, second-hand housing transactions in 21 key cities totaled 2.05 million square meters, a year-on-year decrease of 23.6% [30] - For October, second-hand housing transactions totaled 7.32 million square meters, a year-on-year decrease of 21.2% [33] Industry News - The Ministry of Housing and Urban-Rural Development is promoting a system of selling existing homes to mitigate delivery risks. Additionally, five departments issued a plan to support qualified commercial real estate projects in issuing Real Estate Investment Trusts (REITs) [45] - Guangzhou has released guidelines for constructing quality housing, emphasizing green construction and energy-efficient appliances [45] - Policy adjustments in housing provident funds have been made, including increasing the maximum ratio of monthly repayments to family income from 55% to 60% in Hainan [45] Company Announcements - In Q3 2025, several companies reported their net profits, with notable figures including China Vanke at -16.07 billion yuan (a year-on-year decrease of 98.6%) and China Merchants Shekou at 1.05 billion yuan (a year-on-year decrease of 11.4%) [48][50] - Financing activities include a loan agreement where Shenzhen Metro Group will provide up to 22 billion yuan to China Vanke [48][50]

Core Viewpoint - The company, Zhonghua Enterprises, has released its third-quarter operational data for 2025, indicating significant declines in both signed area and contract amounts compared to the previous year [7][8]. Financial Data - The third-quarter financial report has not been audited [3]. - The company has confirmed the accuracy and completeness of the financial information in the quarterly report [2]. Operational Performance - In the third quarter of 2025, the company had 4 major development projects, with 0 new projects started and 1 project completed, along with 1 new project added to the reserve [7]. - The total signed contract amount for the third quarter was 50,053.22 million yuan [7]. - The signed area in the third quarter decreased by 70.95% year-on-year, while the signed amount decreased by 72.52% year-on-year [8].

Core Viewpoint - China Enterprises (600675.SH) reported a year-on-year increase in operating revenue for Q3 2025, but faced significant net losses [1] Financial Performance - Operating revenue reached 637 million yuan, representing a year-on-year increase of 4.73% [1] - Net profit attributable to shareholders was -169 million yuan [1] - Net profit attributable to shareholders after deducting non-recurring gains and losses was -176 million yuan [1]

Core Insights - The company, China Enterprise Co., Ltd. (中华企业), reported a significant increase in revenue and profitability for the first three quarters of 2025, with a revenue of 7.316 billion yuan, representing a year-on-year growth of 336.81% [1] - The net profit attributable to shareholders was 352 million yuan, marking a turnaround from a loss to profitability compared to the previous year [1] Financial Performance - Revenue for the first nine months of 2025 reached 7.316 billion yuan, showing a substantial increase of 336.81% year-on-year [1] - The net profit attributable to shareholders was reported at 352 million yuan, indicating a successful recovery from previous losses [1] Project Development - In the third quarter of 2025, the company was involved in four major development projects located in Shanghai's Baoshan District, Songjiang District (two projects), and Minhang District [1] - The total planned construction area for these projects is 453,000 square meters, with two projects currently under construction and two projects completed [1] - The projects under construction include the Guangfulin 03-04 plot and the Minhang Xinzhuang 16A-05A plot, while the completed projects are the Gucun 0414-02/0415-01 plot and the Guangfulin 07-10 plot [1]

Core Viewpoint - China Enterprises, a state-controlled listed company under Shanghai Real Estate Group, has a strong foundation and rich experience in the real estate development sector, focusing on various real estate services and related businesses [1] Group 1: Business Performance - For Q3 2025, China Enterprises reported revenue of 7.316 billion yuan, ranking 14th in the industry, significantly lower than the top competitors Poly Developments (173.722 billion yuan) and Vanke A (161.388 billion yuan), but above the industry average of 11.727 billion yuan [2] - The main business composition includes real estate at 6.099 billion yuan (91.31%), property management at 412 million yuan (6.17%), and commercial operations at 151 million yuan (2.26%) [2] - The net profit for the same period was 742 million yuan, ranking 7th in the industry, again lower than the leaders Poly Developments (6.515 billion yuan) and *ST Zhongdi (4.586 billion yuan), but higher than the industry average of -707 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio for China Enterprises was 66.03%, down from 71.04% year-on-year, which is higher than the industry average of 60.51%, indicating a certain gap in debt repayment capability [3] - The gross profit margin for the same period was 31.64%, an increase from 24.00% year-on-year, surpassing the industry average of 19.19%, reflecting strong profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 4.45% to 59,400, with an average holding of 101,800 circulating A-shares, a decrease of 4.26% [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited ranked seventh with 26.431 million shares, down by 4.8579 million shares from the previous period [5] - The Southern CSI Real Estate ETF ranked eighth with 22.9375 million shares, down by 200,900 shares, while the Southern CSI 1000 ETF entered as the tenth largest shareholder with 16.5781 million shares [5]

Core Viewpoint - In the third quarter of 2025, China Enterprise Co., Ltd. reported significant growth in revenue and profit, indicating a strong recovery and expansion in its business operations [1][2]. Group 1: Financial Performance - For the first three quarters of the year, the company achieved operating revenue of 7.316 billion yuan, representing a year-on-year increase of over 300% [1]. - The net profit attributable to shareholders was 352 million yuan, marking a turnaround from losses in the previous year [1]. Group 2: Strategic Developments - The company's wholly-owned subsidiary, Shanghai Lanzuan Real Estate Co., Ltd., successfully acquired 100% equity of Shanghai Xin Feng An Enterprise Development Co., Ltd. for a total transaction price of 2.987 billion yuan, enhancing its project reserves and development capabilities [1]. - This acquisition allows the company to engage in the development of a project in the Xuhui District, further integrating its existing business with urban renewal initiatives [1]. Group 3: Quality Improvement and Market Position - The company is accelerating the upgrade of project quality, aiming to provide higher-quality residential products to the market, which is essential for promoting healthy industry development [1]. - The Yunqi Chunshen project successfully passed the "Baiyu Lan Quality Construction Project" evaluation, aligning with buyers' expectations for high-quality housing [1]. Group 4: Diversified Business Growth - While focusing on the residential market, the company's diversified businesses continue to contribute to growth, with its property management scale expanding [2]. - The subsidiary Shanghai Xin Hong Ecological Agriculture Co., Ltd. is enhancing its supply chain, with its "Chongming Rice" recognized as a national quality agricultural product [2].