Core Viewpoint - Zhangjiang Hi-Tech (600895.SH) is focusing on industrial investment, participating in the Yuanhe Puhua Integrated Circuit Industry Fund with a commitment of 100 million yuan, which has a target size of approximately 2 billion yuan [1][2] Investment Activities - The Yuanhe Puhua Integrated Circuit Industry Fund aims to invest in the semiconductor core sectors and hard technology fields, particularly in developed regions like the Yangtze River Delta and the Pearl River Delta [2] - Zhangjiang Hi-Tech has been actively investing in various sectors, including a 200 million yuan investment in the high-end electric vehicle brand Zhiji Auto and participation in the EDA Innovation Center [3] Financial Performance - In Q1 2025, Zhangjiang Hi-Tech reported a revenue of 1.219 billion yuan, a year-on-year increase of 24.41%, and a net profit of 294 million yuan, up 147.38% year-on-year [8] - The company achieved an investment income of 236 million yuan in Q1 2025, a significant increase of 333.74% year-on-year, accounting for 80% of the net profit for the period [5][8] Investment Scale and Focus - As of the end of 2024, Zhangjiang Hi-Tech's cumulative investment scale exceeded 9.5 billion yuan, with 56 direct investment projects and 30 fund participations [4] - The company primarily invests in integrated circuits (28% of total investments), biomedicine and medical devices (20%), and new energy vehicles (35%) [4] Operational Efficiency - Zhangjiang Hi-Tech has demonstrated effective cost control, with total operating expenses in Q1 2025 amounting to 155 million yuan, representing 12.69% of revenue, a decrease of 2.54 percentage points compared to the previous year [8] - The company maintains a stable dividend policy, having distributed cash dividends 25 times, totaling 4.706 billion yuan [8]

股票代码：600895 股票简称：张江高科 编号：临2025-013 上海张江高科技园区开发股份有限公司 关于全资子公司----上海张江浩成创业投资有限公司参与投资 元禾璞华集成电路产业基金（有限合伙）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： 投资标的名称：元禾璞华集成电路产业基金（有限合伙）（暂定名，最 终以市场监督管理局登记名称为准） 投资金额：上海张江高科技园区开发股份有限公司全资子公司----上海 张江浩成创业投资有限公司参与投资元禾璞华集成电路产业基金（有限合伙）， 该基金募集资金目标规模约为人民币20亿元，上海张江浩成创业投资有限公司 作为有限合伙人认缴出资额为人民币1亿元。 交易风险：基金投资业务开展存在一定的市场风险、经营风险和管理风 险。宏观经济的影响、投资标的选择、行业环境以及经营管理带来的不确定性 将可能导致项目无法实现顺利退出，从而存在基金投资无法达到预期收益水平 的风险。公司将充分关注可能存在的风险，密切持续关注基金经营管理状况及 其投资的实施过程，切实降低公司投资风险。 ...

张江高科（600895）公告，全资子公司上海张江浩成创业投资有限公司参与投资元禾璞华集成电路产业 基金(有限合伙)，该基金募集资金目标规模约为人民币20亿元，上海张江浩成创业投资有限公司作为有 限合伙人认缴出资额为人民币1亿元。基金首关规模7.75亿元，投资期4年+管理退出期4年+延长期2年。 ...

Core Viewpoint - The real estate sector has emerged as a new focus for market speculation, with significant gains in real estate ETFs, indicating a shift in investor interest towards this industry [1][3]. Group 1: ETF Performance - The real estate ETF fund (515060) and real estate ETF (512200) both saw half-day increases of 1.72% and 1.7% respectively, leading the market [1][3]. - The real estate ETF (512200) has a large scale of 4.739 billion units, with a half-day trading volume of 161 million yuan, tracking the CSI All Share Real Estate Index [3]. - The real estate ETF (159768) recorded a half-day increase of 0.76%, with a scale of 1.265 billion units and a trading volume of 17.1127 million yuan, tracking the CSI Mainland Real Estate Theme Index [6]. - The real estate ETF (159707) experienced a half-day increase of 0.68%, with a scale of 859 million units and a trading volume of 14.8376 million yuan, tracking the CSI 800 Real Estate Index [9]. Group 2: Market Dynamics - The "de-inventory" strategy in the real estate sector is primarily driven by a reversal in supply-demand dynamics and declining sales data, leading to an oversupply of commercial housing and an extended inventory clearance cycle [3]. - Anticipation of more proactive fiscal and monetary policies, along with new policies aimed at improving housing quality, is expected to further stimulate and release demand for improved housing, supporting stable industry development [3]. Group 3: Major Constituents of Indices - The top five constituents of the CSI All Share Real Estate Index include leading companies such as Poly Developments (10.13% weight), Vanke A (9.17% weight), and China Merchants Shekou (6.43% weight) [4]. - The CSI Mainland Real Estate Theme Index also features major companies like Poly Developments (14.80% weight), Vanke A (14.20% weight), and China Merchants Shekou (14.16% weight) [7][10].

Group 1 - The rental and sales rights concept declined by 4.65%, ranking among the top declines in concept sectors, with major stocks like I Love My Home and Shilianhang hitting the limit down [1] - The main funds in the rental and sales rights concept experienced a net outflow of 687 million yuan, with I Love My Home seeing the largest outflow of 237 million yuan [1] - Among the stocks in the rental and sales rights concept, only two stocks saw an increase, with Huangting International and Zhangjiang Gaoke rising by 0.98% and 0.27% respectively [1] Group 2 - The top stocks with net outflows in the rental and sales rights concept included Poly Development, China Merchants Shekou, and Nanguo Real Estate, with outflows of 153 million yuan, 95 million yuan, and 36 million yuan respectively [1] - The trading volume for I Love My Home was 19.05%, with a price drop of 10.05%, indicating significant trading activity despite the decline [2] - Other notable declines included Debi Group and Sanxiang Impression, which fell by 15.13% and 7.59% respectively, reflecting broader market challenges in the sector [1][2]

股票代码：600895 股票简称：张江高科 编号：临2025-012 上海张江高科技园区开发股份有限公司 2025年第一季度房地产业务主要经营数据公告 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。 4、 2025年3月末，公司出租房地产总面积161.45万平方米；2025年1--3月， 公司房地产业务取得租金总收入2.77亿元，同比增加11.43%。 根据上海证券交易所《上海证券交易所上市公司自律监管指引第3号——行 业信息披露》要求，特此公告上海张江高科技园区开发股份有限公司（以下简 称"公司"）2025年第一季度房地产业务相关经营数据。 1、 2025年1--3月，公司无新增房地产项目储备。 2、 2025年1--3月，公司房地产业务无新开工和竣工项目。 3、 2025年1--3月，公司房地产业务合同销售面积3万平方米，实现合同销 售金额9.39亿元，同比增加29.33%。 特此公告 上海张江高科技园区开发股份有限公司董事会 2025年 4 月 26 日 ...

股票代码：600895 股票简称：张江高科 编号：临 2025-011 上海张江高科技园区开发股份有限公司第九届董事会第九次会议于 2025 年 4 月 25 日以通讯方式召开。本次会议应参加董事 5 名，实际参加董事 5 名。会 议召开符合《公司法》和《公司章程》的有关规定。经董事会全体董事审议， 会议审议通过了以下议案: 一、 2025 年度第一季度报告 该议案已经公司第九届董事会审计委员会第六次会议审议通过。 同意：5 票，反对：0 票，弃权：0 票 二、 关于制定《内部审计制度》的议案 该议案已经公司第九届董事会审计委员会第六次会议审议通过。 同意：5 票，反对：0 票，弃权：0 票 特此公告 上海张江高科技园区开发股份有限公司董事会 2025 年 4 月 26 日 上海张江高科技园区开发股份有限公司 第九届董事会第九次会议决议公告 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。 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,219,411,240.45, representing a 24.41% increase compared to CNY 980,182,506.88 in the same period last year[3]. - Net profit attributable to shareholders increased by 147.38% to CNY 294,461,057.73 from CNY 119,033,432.68 year-on-year[3]. - The basic and diluted earnings per share rose to CNY 0.18, a 125.00% increase from CNY 0.08 in the previous year[3]. - Operating profit for Q1 2025 was ¥388,530,529.72, up from ¥150,950,859.91 in Q1 2024, reflecting a growth of 157.5%[21]. - Net profit attributable to shareholders of the parent company for Q1 2025 was ¥294,461,057.73, compared to ¥119,033,432.68 in Q1 2024, marking an increase of 147.0%[22]. - Earnings per share for Q1 2025 was ¥0.18, compared to ¥0.08 in Q1 2024, indicating a 125% increase[22]. Cash Flow - The net cash flow from operating activities improved by 56.19%, reaching CNY -795,847,623.87, compared to CNY -1,816,570,317.91 in the same period last year[3]. - In Q1 2025, the cash inflow from operating activities was CNY 1,130,770,280.80, a significant increase from CNY 320,558,785.33 in Q1 2024, representing a growth of approximately 253%[24]. - The net cash flow from operating activities for Q1 2025 was -CNY 795,847,623.87, an improvement compared to -CNY 1,816,570,317.91 in Q1 2024[24]. - The cash inflow from investment activities in Q1 2025 was CNY 1,109,220,314.18, compared to CNY 136,835,757.90 in Q1 2024, marking an increase of about 711%[25]. - The net cash flow from investment activities for Q1 2025 was CNY 221,900,006.00, a recovery from -CNY 506,456,269.36 in Q1 2024[25]. - The cash inflow from financing activities in Q1 2025 totaled CNY 4,198,524,974.24, up from CNY 3,210,415,807.73 in Q1 2024, indicating a growth of approximately 31%[25]. - The net cash flow from financing activities for Q1 2025 was CNY 1,101,320,450.45, a decrease from CNY 2,176,212,722.95 in Q1 2024[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 58,834,100,366.87, a decrease of 0.96% from CNY 59,402,514,993.98 at the end of the previous year[4]. - Total current assets as of March 31, 2025, amount to RMB 23,212,696,374.73, a decrease from RMB 23,800,541,233.37 as of December 31, 2024[15]. - Total liabilities decreased to RMB 29,339,610,785.87 from RMB 30,895,932,344.81, reflecting a reduction of approximately 5.0%[16]. - Total liabilities decreased to ¥39,469,953,539.77 from ¥41,008,919,238.36 year-over-year, a reduction of 3.8%[21]. - The company maintained a stable financial position with non-current liabilities totaling ¥22,916,021,822.62, down from ¥23,889,277,417.62[21]. - The company's total equity as of March 31, 2025, was CNY 8,710,779,268.29, up from CNY 8,069,667,585.22 at the end of 2024, indicating a growth of about 7.9%[29]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 183,932[11]. - The largest shareholder, Shanghai Zhangjiang (Group) Co., Ltd., holds 786,036,600 shares, accounting for 50.75% of total shares[12]. - The company has no significant changes in the top 10 shareholders or their shareholding status compared to the previous period[12]. Investment Income - The company reported a significant increase in investment income by 333.74%, attributed to the rise in fair value of financial assets measured at fair value[8]. - The company reported an investment income of ¥235,539,338.07 in Q1 2025, a recovery from a loss of ¥100,769,686.71 in Q1 2024[21]. - Investment income for Q1 2025 was ¥10,979,635.65, slightly lower than ¥11,736,418.30 in Q1 2024[31]. Other Financial Metrics - The weighted average return on equity improved to 2.15%, an increase of 1.2 percentage points compared to 0.95% last year[3]. - Cash and cash equivalents increased to RMB 3,000,946,973.48 from RMB 2,478,082,355.90, representing a growth of approximately 21.1%[15]. - Accounts receivable rose to RMB 168,415,647.36 from RMB 107,394,164.00, indicating a growth of about 56.8%[15]. - Short-term borrowings increased significantly to RMB 3,691,400,000.00 from RMB 2,427,400,000.00, marking an increase of about 52.0%[16]. - The company incurred financial expenses of ¥108,898,355.08 in Q1 2025, down from ¥119,940,793.35 in Q1 2024[31]. - Other comprehensive income after tax for Q1 2025 was a loss of ¥13,545,592.92, contrasting with a gain of ¥3,840,331.35 in Q1 2024[22].

张江高科（600895）公告，2025年第一季度营收为12.19亿元，同比增长24.41%；净利润为2.94亿元， 同比增长147.38%。 ...

关于 2025 年度第一期超短期融资券发行结果公告 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。 上海张江高科技园区开发股份有限公司（以下简称"公司"）于 2023 年 6 月 27 日召开的公司 2022 年度股东大会审议通过了《关于申请发行直接债务融资工 具的议案》，该事项已获得中国银行间市场交易商协会中市协注[2023]SCP264 号 《接受注册通知书》，决定接受公司超短期融资券注册金额为 20 亿元，注册额 度自通知书落款之日起 2 年内有效。公司在注册有效期内可分期发行超短期融资 券，发行完成后，应通过交易商协会认可的途径披露发行结果。 股票代码：600895 股票简称：张江高科 编号：临 2025-010 上海张江高科技园区开发股份有限公司 上海张江高科技园区开发股份有限公司 2025 年 4 月 17 日 公司于近日完成了"上海张江高科技园区开发股份有限公司 2025 年度第一 期超短期融资券"的发行，现将发行结果公告如下： | 债券名称 | 上海张江高科技园区开发股份有限 债券简称 | 25 | 张江高科 ...