Core Viewpoint - The investigation into the financial transactions between New城控股 and its subsidiary New城悦服务 has revealed significant amounts of related party transactions that were concealed from regulatory oversight and financial statements [1][3]. Group 1: Financial Transactions - New城控股 reported a total of 6.97 billion RMB in related party transactions, with 5.17 billion RMB occurring in the current period and 1.8 billion RMB in the previous period [1][6]. - The highest daily balance of related party transactions reached 700 million RMB in 2023 and 800 million RMB in 2024, with all transactions being repaid within the same month, except for one transaction in 2023 [2][6]. Group 2: Investigation Findings - An independent forensic investigation revealed discrepancies in the bank records and financial statements related to the transactions, indicating that they were not recorded properly [3][5]. - The investigation identified that a management employee, Yang Bo, orchestrated the related party transactions, bypassing internal approval processes by using custom paper approval forms [4][5]. Group 3: Management and Governance - Yang Bo was removed from his position as an executive director following the investigation, and a new member was appointed to the Environmental, Social, and Governance Committee to fill the vacancy [6][7]. - There is no evidence that Wang Zhenhua, the controlling shareholder, was involved in the related party transactions or aware of them during the investigation period [7][8].

Core Insights - New City Holdings reported a contract sales amount of approximately 1.484 billion yuan in September [1] - The total sales area for the same month was about 211,300 square meters [1] Summary by Category Financial Performance - The contract sales amount for September reached approximately 1.484 billion yuan [1] - The sales area recorded was around 211,300 square meters [1]

Core Insights - The company reported a total commercial operating revenue of approximately 1.173 billion yuan in September, representing a year-on-year increase of 10.13% [1] - For the first nine months, the cumulative commercial operating revenue reached approximately 10.511 billion yuan, reflecting a year-on-year growth of 10.82% [1] Revenue Performance - In September, the company achieved a contract sales amount of approximately 1.484 billion yuan, with a sales area of about 211,300 square meters [1] - From January to September, the cumulative contract sales amount was approximately 15.050 billion yuan, with a total contract sales area of around 1,959,100 square meters [1]

Core Viewpoint - New城控股 reported a year-on-year increase in commercial operating revenue for September and the first nine months of 2023, indicating positive growth trends in the company's financial performance [1] Financial Performance - In September, the company achieved total commercial operating revenue of approximately 1.173 billion yuan, representing a year-on-year growth of 10.13% [1] - For the first nine months of 2023, the cumulative total commercial operating revenue reached approximately 10.511 billion yuan, reflecting a year-on-year increase of 10.82% [1] Sales Performance - In September, the company recorded a contract sales amount of approximately 1.484 billion yuan, with a sales area of about 211,300 square meters [1] - From January to September, the cumulative contract sales amount was approximately 15.050 billion yuan, with a total contract sales area of around 1,959,100 square meters [1]

9月份公司实现合同销售金额约14.84亿元，销售面积约21.13万平方米。1-9月公司累计实现合同销售金 额约150.50亿元，累计合同销售面积约195.91万平方米。 智通财经APP讯，新城控股(601155.SH)发布公告，9月份公司实现商业运营总收入约11.73亿元，比上年 同期增长10.13%;1-9月公司累计实现商业运营总收入约105.11亿元，比上年同期增长10.82%。 ...

Core Insights - The company reported a total commercial operating revenue of approximately 1.173 billion yuan in September, representing a year-on-year increase of 10.13% [1] - For the first nine months of 2025, the cumulative commercial operating revenue reached approximately 10.511 billion yuan, reflecting a year-on-year growth of 10.82% [1] Revenue Performance - In September, the company achieved a contract sales amount of approximately 1.484 billion yuan, with a sales area of about 211,300 square meters [1] - From January to September, the cumulative contract sales amount was approximately 15.050 billion yuan, with a total contract sales area of around 1,959,100 square meters [1] Debt Management - In the third quarter of 2025, the company repaid 1 billion yuan of bonds in the domestic and overseas public markets [1] - As of September 30, 2025, the company's equity interest in joint ventures had interest-bearing liabilities totaling 2.513 billion yuan [1]

Core Insights - New City Holdings (601155) reported a contract sales amount of approximately 1.484 billion yuan in September, with a sales area of about 211,300 square meters [1] - The total commercial operating revenue for September was approximately 1.173 billion yuan, reflecting a year-on-year growth of 10.13% [1] - For the first nine months of the year, the cumulative contract sales amount reached approximately 15.050 billion yuan, with a cumulative sales area of about 1.9591 million square meters [1] - The cumulative commercial operating revenue for the first nine months was approximately 10.511 billion yuan, showing a year-on-year increase of 10.82% [1] - By the third quarter of 2025, the company had repaid 1 billion yuan of public market bonds [1] - As of September 30, the company's equity interest in joint ventures had interest-bearing liabilities totaling 2.513 billion yuan [1]

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。 本公司董事会提醒，披露信息所有经营数据未经审计，月度及季度经营数据与 定期报告数据可能存在差异，仅供投资者了解公司现时经营状况作参考。 一、公司2025年1-9月房地产出租情况 9月份公司实现商业运营总收入约11.73亿元，比上年同期增长10.13%；1-9月 公司累计实现商业运营总收入约105.11亿元，比上年同期增长10.82%。 证券代码：601155 证券简称：新城控股 编号：2025-047 新城控股集团股份有限公司 2025 年 9 月份及第三季度经营简报 4、出租率为2025年9月30日当日商业物业出租情况。 二、公司 2025 年 9 月份经营情况 9月份公司实现合同销售金额约14.84亿元，销售面积约21.13万平方米。1-9月 公司累计实现合同销售金额约150.50亿元，累计合同销售面积约195.91万平方米。 | 省份 | 9 月份销售金额（万元） | 9 | 月份销售面积（平方米） | | --- | --- | --- | --- | | 江苏 | | ...

新城控股公告，2025年9月实现商业运营总收入约11.73亿元，同比增长10.13%；1-9月累计约105.11亿 元，同比增长10.82%。9月合同销售金额约14.84亿元，销售面积约21.13万平方米；1-9月合同销售金额 约150.5亿元，合同销售面积约195.91万平方米。第三季度销售面积62.41万平方米，竣工面积72.05万平 方米。期内已偿还境内外公开市场债券10亿元，截至9月30日合联营公司权益有息负债合计25.13亿元。 ...

Core Insights - The report from CICC indicates that the second-hand housing market in September shows a mixed performance, with transaction volume declining month-on-month but increasing year-on-year, suggesting ongoing market weakness [1][2]. Transaction Volume and Price Trends - In September, the transaction volume index for second-hand residential properties in 80 cities decreased by 10% month-on-month but increased by 19% year-on-year (Q3 +19%, Q2 +17%) [1]. - The registered transaction area in 15 cities rose by 6% month-on-month and grew by 9% year-on-year (Q3 +3%, Q2 +11%) [1]. - The price index for homogeneous second-hand residential properties fell by 1.7% month-on-month (Q3 average -1.7%, Q2 average -1.4%) [1]. - The negotiation space for transactions increased by 25 basis points to 8.91% [1]. Listing Trends - The number of second-hand residential listings in 130 cities increased by 0.4% month-on-month, continuing a slight upward trend [2]. - The price index for homogeneous listings in key cities decreased by 1.5% month-on-month (Q3 average -1.3%, Q2 average -1.2%) [2]. - The average adjustment for listed properties was -5.24%, indicating a conservative price expectation among sellers [2]. Rental Market Insights - The rental index for homogeneous listings decreased by 0.8% month-on-month (August -0.5%) [3]. - The average rental period remained stable at 2.12 months [3]. - The rental-to-sale ratio increased by 2 basis points to 2.33% due to declining listing prices [3]. Investment Recommendations - The company suggests focusing on investment opportunities in the real estate and property management sectors, particularly in companies with solid fundamentals and profit quality such as China Resources Land, Jianfa International, and others [4]. - It also recommends considering undervalued stocks like Greentown China and New Town Holdings, given potential liquidity improvements [4]. - The report highlights the importance of identifying stocks with strong growth prospects or attractive dividend yields across various sectors [4].