Core Viewpoint - The A-share real estate sector has seen significant gains, particularly driven by the launch of a program in Shanghai to acquire second-hand housing for affordable rental housing projects, targeting new citizens, young people, and graduates [1] Group 1: Market Performance - Real estate stocks in the A-share market experienced substantial afternoon gains, with notable performers including I Love My Home and Huafa Co., which hit the daily limit [1] - Other companies such as Rong'an Real Estate, Jingtou Development, and Caixin Development also reached their daily limit previously, while China Merchants Shekou and City Investment Holdings rose over 7% [1] - The following companies showed significant increases: Jindi Group and Tefa Service over 6%, and Zhongzhou Holdings, Jingneng Real Estate, Binjiang Group, and Shilianhang over 5% [1] Group 2: Company Data - Rong'an Real Estate: 10.27% increase, market cap of 6.495 billion [2] - Jingtou Development: 10.09% increase, market cap of 4.445 billion [2] - I Love My Home: 10.06% increase, market cap of 8.503 billion [2] - Huafa Co.: 9.95% increase, market cap of 12.2 billion [2] - Caixin Development: 9.92% increase, market cap of 2.927 billion [2] - China Merchants Shekou: 7.50% increase, market cap of 98.2 billion [2] - City Investment Holdings: 7.13% increase, market cap of 1.39 billion [2] - Jindi Group: 6.69% increase, market cap of 15.1 billion [2] - Tefa Service: 6.52% increase, market cap of 7.183 billion [2] - New Town Holdings: 6.19% increase, market cap of 40.2 billion [2] - Zhongzhou Holdings: 5.88% increase, market cap of 5.87 billion [2] - Jingneng Real Estate: 5.79% increase, market cap of 2.898 billion [2] - Binjiang Group: 5.74% increase, market cap of 37.8 billion [2] - Shilianhang: 5.54% increase, market cap of 5.699 billion [2]

Market Overview - The real estate development sector experienced a decline of 2.03% on January 26, with Hualian Holdings leading the drop [1] - The Shanghai Composite Index closed at 4132.61, down 0.09%, while the Shenzhen Component Index closed at 14316.64, down 0.85% [1] Stock Performance - Notable gainers included Suzhou Gaoxin, which rose by 10.06% to a closing price of 7.88, and Wolong New Energy, which increased by 9.97% to 8.71 [1] - Hualian Holdings saw a significant drop of 10.01%, closing at 6.29, with a trading volume of 156.48 million shares [2] Trading Volume and Capital Flow - The real estate development sector saw a net outflow of 1.837 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.08 billion yuan [2] - The trading volume for Suzhou Gaoxin was 528,200 shares, with a transaction value of 414 million yuan [1] Individual Stock Capital Flow - Suzhou Gaoxin had a net inflow of 1.18 billion yuan from institutional investors, representing 28.48% of its total trading volume [3] - Hualian Holdings faced a net outflow of 614.58 million yuan from retail investors, indicating a negative sentiment towards the stock [3]

证券代码：600791 证券简称：京能置业 公告编号：临 2026-003 号 特此公告。 京能置业股份有限公司董事会 2026 年 1 月 27 日 京能置业股份有限公司（以下简称"公司"）于 2025 年 5 月 20 日召开 2024 年年度股东大会，审议通过了《公司关于 2025 年度融资 及担保计划的议案》，同意公司 2025 年新增注册发行总额不超过 20 亿元中期票据。公司已收到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】MTN1194 号）。详细内容见 2025 年 5 月 21 日、12 月 16 日的中国证券报、上海证券报和上海证券交 易所网站（www.sse.com.cn）披露的相关公告。 本次中期票据发行规模为人民币10亿元，2026年1月23日，募集 资金已全部到账。现将发行结果公告如下： | 中期票据名称 | 京能置业股份有限 公司2026年度第一 | 中期票据简称 | 26京能置业MTN001 | | --- | --- | --- | --- | | | 期中期票据 | | | | 中期票据代码 | 102680285.IB | 中期票据期限 | 3 ...

| 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 000036 | 华联控股 | 4 | 9.98 | 86.62 乙 | -6.52 | | 600649 | 城投控股 | 1 | 9.96 | 141亿 | 26.52 | | 600173 | 卧龙新能 | 中 | 9.94 | 54.99 Z | 10.10 | | 600246 | 万通发展 | | 5.86 | 249亿 | 7.24 | | 600791 | 京能置业 | 1 | 5.33 | 24.18亿 | 14.10 | | 000668 | *ST荣控 | 1 | 4.98 | 20.41亿 | 41.55 | | 000006 | 深振业A | * | 4.82 | 132亿 | -1.61 | | 600773 | 西藏城投 | | 3.61 | 136亿 | 15.74 | | 000608 | *STMH% | | 3.34 | 25.50亿 | 29.28 | | 000002 | 万 科A | 1 | 3.34 | 59 ...

Core Viewpoint - The real estate sector continues to face widespread losses, with most listed companies in the A-share market reporting varying degrees of deficit for 2025, except for the leading company, Poly Developments [2][3]. Group 1: Company Performance - Among the 27 listed real estate companies that have released performance forecasts, only Poly Developments reported a positive net profit of approximately 1.03 billion yuan, while the total losses of the other companies ranged from 47.546 billion to 62.464 billion yuan [3]. - Poly Developments experienced a revenue decline of 1.09% year-on-year, with a net profit drop of 79.49% due to decreased gross profit margins and anticipated asset impairment losses of about 6.9 billion yuan [3]. - Other companies, such as China Fortune Land Development, are projected to incur losses of 16 billion to 24 billion yuan for 2025, with net assets expected to decline by 10 billion to 15 billion yuan [4]. Group 2: Industry Challenges - The real estate sector has been struggling with significant losses since 2022, attributed to factors such as low-profit project settlements, increased impairment provisions, and rising interest expenses [6]. - The sales volume of commercial housing is expected to decline by 12.6% year-on-year in 2025, indicating ongoing market challenges [7]. - The real estate development prosperity index has been on a downward trend, reaching 91.45 by December 2025, reflecting a sluggish economic activity in the sector [7]. Group 3: Future Outlook - Analysts suggest that the adjustment cycle in the real estate market may be nearing its end by 2026, with potential growth in the high-quality residential market driven by policy support and demand structure upgrades [8]. - Companies facing significant losses must manage their market value and ensure compliance with financial reporting to avoid delisting risks, which could arise from continuous losses or failure to meet revenue thresholds [9].

智通财经APP讯，京能置业(600791.SH)发布2025年年度业绩预亏公告，预计2025年将出现亏损，实现 归属于母公司所有者的净利润为-9.86亿元到-13.15亿元。整体预亏主要原因为：公司为适应市场环境， 对部分房地产项目采取灵活的销售策略，毛利下行并计提存货跌价准备，导致本期亏损。 ...

格隆汇1月16日丨京能置业(600791.SH)公布，经财务部门初步测算，预计2025年将出现亏损，实现归属 于母公司所有者的净利润为-9.86亿元到-13.15亿元。公司预计2025年归属于母公司所有者的扣除非经常 性损益后的净利润-9.79亿元到-13.08亿元。 ...

证券代码：600791 证券简称：京能置业 公告编号：临 2026-001 号 京能置业股份有限公司 2025 年第四季度房地产项目经营情况简报 由于销售过程中存在各种不确定性，且房地产开发产品采用预售 制，同期的签约金额和营业收入相关度不高，具体数据请以 2025 年 度报告为准，相关阶段性数据仅供投资者参考。 1 特此公告。 单位：亿元；万平方米 公司参股公司经营情况如下： 单位：亿元；万平方米 | 项目 | 新增房地产储备 | | 开复工 | 其中：新开工 | 竣工面积 | 签约面积 | 签约金 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 面积 | 面积 | 面积 | | | 额 | | 权益口 径 | | 0 | 1.29 | 0 | 0 | 0.29 | 0.04 | 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。 2025 年第四季度（10 月 1 日至 12 月 31 日），京能置业股份有限 公司（以下简称"公司"）及控股子公司经营情况如下： ...

Financial Performance Forecast - The company expects a net loss attributable to shareholders of the parent company for 2025 to be between -986 million and -1,315 million RMB, representing an increase in loss of 877 million to 1,206 million RMB compared to the previous year [2][3]. - The net profit attributable to shareholders of the parent company, after deducting non-recurring gains and losses, is expected to be between -979 million and -1,308 million RMB for 2025 [2][3]. - The net profit for the same period last year was -109 million RMB, and the net profit after deducting non-recurring gains and losses was -116 million RMB [4]. - The company reported an earnings per share of -0.24 RMB for the previous year [4]. Reasons for Expected Loss - The primary reason for the expected loss in 2025 is the implementation of flexible sales strategies for certain real estate projects, leading to a decline in gross profit and inventory impairment provisions [5]. Audit and Accuracy - The performance forecast has not been audited by registered accountants [3]. - There are no significant uncertainties affecting the accuracy of this performance forecast [6]. - The financial data provided is based on preliminary calculations and professional judgment by the company's finance department [7].

Group 1 - The real estate development sector increased by 0.53% on January 15, with Bright Real Estate leading the gains [1] - The Shanghai Composite Index closed at 4112.6, down 0.33%, while the Shenzhen Component Index closed at 14306.73, up 0.41% [1] - Bright Real Estate's stock price rose by 10.09% to 3.82, with a trading volume of 410,100 shares and a transaction value of 152 million yuan [1] Group 2 - The real estate development sector experienced a net inflow of 395 million yuan from institutional investors, while retail investors saw a net outflow of 275 million yuan [2] - Major stocks in the sector showed varied performance, with Vanke A experiencing a net inflow of 235 million yuan from institutional investors, but a net outflow of 151 million yuan from retail investors [3] - Poly Development had a net inflow of 128 million yuan from institutional investors, while retail investors had a net outflow of 104 million yuan [3]