证券简称：中新集团 证券代码：601512 中新苏州工业园区开发集团股份有限公司 2025年第二次临时股东大会 $\begin{array}{c}\includegraphics[height=56.905512pt]{Fig1}\end{array}$ | 会议须知 | 2 | | --- | --- | | 2025 年第二次临时股东大会议程 | 4 | 中新苏州工业园区开发集团股份有限公司 2025 年第二次临时股东大会会议资料 会议须知 为确保中新苏州工业园区开发集团股份有限公司（以下简称"公 司"）股东在公司股东大会（以下简称"本次会议"）期间依法行使 权利，保证本次会议的会议秩序和议事效率，公司特将本次会议相关 事项通知如下： 2025 年 11 月 17 日 一、公司根据《公司法》《证券法》《中新苏州工业园区开发集 团股份有限公司章程》（以下简称"《公司章程》"）及《中新苏州 工业园区开发集团股份有限公司股东大会议事规则》的规定，认真做 好召开本次会议的各项工作。 二、本次大会由证券部负责会务事宜，出席现场会议的股东（或 其代理人）应准时到达会场，在会场办理签到手续并参加会议。参会 股东及股东代 ...

第六届董事会第三十次会议决议公告 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。 一、董事会会议召开情况 证券代码：601512 证券简称：中新集团 公告编号：2025-031 中新苏州工业园区开发集团股份有限公司 中新苏州工业园区开发集团股份有限公司（以下简称"公司"或"中新集 团"）第六届董事会第三十次会议（以下简称"本次会议"）于 2025 年 10 月 31 日在公司会议室以通讯表决方式召开，本次会议通知和会议材料已于 2025 年 10 月 28 日以电子邮件方式通知全体董事。本次会议应出席会议的董事 9 名， 实际出席会议的董事 9 名。本次会议由公司董事长赵志松先生主持。本次会议 的召开符合《中华人民共和国公司法》等法律、法规及《公司章程》的规定， 会议形成的决议合法有效。 二、董事会会议审议情况 （一）审议通过《关于取消监事会并修订<公司章程>及相关制度的议案》 根据《公司法》《上市公司章程指引》等有关法律法规的规定，结合公司 实际情况，公司将不再设置监事会和监事，由董事会审计委员会行使《公司法》 规定的监事会 ...

中新苏州工业园区开发集团股份有限公司 公司召开股东会，应当聘请律师对以下问题出具法律意见并公告： （一）会议的召集、召开程序是否符合法律、行政法规、《股东会规则》和公司 章程的规定； （二）出席会议人员的资格、召集人资格是否合法有效； （三）会议的表决程序、表决结果是否合法有效； （四）应公司要求对其他有关问题出具的法律意见。 第三条 股东会通知由公司证券部负责起草拟定，并在起草完毕后将通知草稿 交与公司法律顾问审核，在公司法律顾问审核确认后方始发出。 第四条 股东会通知和补充通知应当在公司指定报纸上及指定网站上公告。 股东会议事规则 第一条 为规范中新苏州工业园区开发集团股份有限公司（以下简称"公司"） 的组织和行为，保证股东依法行使职权，根据《中华人民共和国公司法》、《中华人民 共和国证券法》、《上市公司股东会规则》（以下简称"《股东会规则》"）、《中新苏州 工业园区开发集团股份有限公司章程》（以下简称"公司章程"）和其他有关规定，制 订本议事规则。 第二条 年度股东会及临时股东会的召开采取现场方式召开。公司在保证股东 会合法、有效的前提下，通过各种方式和途径，优先提供网络形式的投票平台等现代 信息技术手 ...

中新苏州工业园区开发集团股份有限公司 董事会议事规则 第一条 宗旨 为了进一步规范中新苏州工业园区开发集团股份有限公司（以下简称"公司"） 董事会的议事方式和决策程序，促使董事和董事会有效地履行其职责，提高董事会规 范运作和科学决策水平，根据《中华人民共和国公司法》、《中华人民共和国证券法》、 《上市公司治理准则》及《中新苏州工业园区开发集团股份有限公司章程》等有关规 定，制订本规则。 第二条 证券部 公司设证券部，处理董事会日常事务。 董事会秘书负责管理证券部，保管董事会印章。董事会秘书指定证券事务代表等 有关人员协助其处理日常事务。 第三条 定期会议 董事会会议分为定期会议和临时会议。 第五条 临时会议 有下列情形之一的，董事会应当召开临时会议： 4、董事长认为必要时； 5、二分之一以上独立董事联名提议时； 6、总裁提议时； 1 1、代表十分之一以上表决权的股东提议时； 2、三分之一以上董事联名提议时； 3、审计委员会提议时； 董事会每年应当至少在上下两个半年度各召开一次定期会议。 第四条 定期会议的提案 公司管理层应根据公司的实际情况制订有关提案的管理办法。在发出召开董事会 定期会议的通知前，相关部门及 ...

第一条 为了规范中新苏州工业园区开发集团股份有限公司（以下简称"公 司"）股东会网络投票行为，保护投资者合法权益，根据《中华人民共和国公司 法》《上市公司股东会规则》《上海证券交易所股票上市规则》及《上海证券交易 所上市公司自律监管指南第2号——业务办理》等相关法律、法规、规章、规范性文 件和《中新苏州工业园区开发集团股份有限公司章程》（以下简称"公司章程"） 的规定，制定本细则。 第二条 本细则所称公司股东会网络投票系统（以下简称网络投票系统）是 指上海证券交易所（以下简称上交所）利用网络与通信技术，为公司股东非现场 行使股东会表决权提供服务的信息技术系统。 第三条 上交所网络投票系统包括下列投票平台： （一）交易系统投票平台； 中新苏州工业园区开发集团股份有限公司 股东会网络投票实施细则 第一章 总则 第四条 公司召开股东会，应当按照相关规定向股东提供网络投票方式，履 行股东会相关的通知和公告义务，做好股东会网络投票的相关组织和准备工作。 第五条 公司为股东提供网络投票方式的，应当按照上交所相关临时公告格 式指引的要求，使用上交所公告编制软件编制股东会相关公告，并按规定披露。 第六条 公司召开股东会向股东 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 11.72 [7][5]. Core Insights - The company reported Q3 revenue of RMB 497 million, a year-over-year increase of 4.81%, but a quarter-over-quarter decrease of 60.11%. The net profit attributable to shareholders was RMB 239 million, up 115.46% year-over-year, but down 28.33% quarter-over-quarter. For the first three quarters of 2025, the company achieved revenue of RMB 2.601 billion, a year-over-year increase of 30.98%, and a net profit of RMB 830 million, up 23.46% year-over-year [1][2]. - The growth in revenue and profit is attributed to the recovery in the land development business and the valuation increase in the technology sector, which significantly boosted the company's investment income [2][3]. - The company has a strong cash flow, with net cash flow from operating activities reaching RMB 911 million, a year-over-year increase of 42.83%, primarily due to reduced development and tax payments compared to the previous year [4]. Summary by Sections Financial Performance - For Q3, the company achieved a revenue of RMB 497 million, with a year-over-year growth of 4.81% and a quarter-over-quarter decline of 60.11%. The net profit attributable to shareholders was RMB 239 million, reflecting a year-over-year increase of 115.46% [1]. - For the first three quarters of 2025, total revenue reached RMB 2.601 billion, up 30.98% year-over-year, and net profit was RMB 830 million, an increase of 23.46% year-over-year [2]. Investment Strategy - The company has focused on industrial investment as a key growth driver, contributing RMB 480 million in fair value changes and investment income during the reporting period. The company has committed to 52 investment funds totaling approximately RMB 4.4 billion, with over 300 projects in national-level technology innovation [3][4]. Cash Flow and Financing - The company reported a robust operating cash flow of RMB 911 million, a 42.83% increase year-over-year, supported by the stable development of its industrial parks and successful issuance of a RMB 1 billion technology innovation bond at a low interest rate of 1.75% [4][5]. Profit Forecast and Valuation - The profit forecast for 2025-2027 has been revised upwards, with net profit estimates of RMB 890 million, RMB 996 million, and RMB 1.079 billion, reflecting increases of 29.05%, 32.65%, and 31.74% respectively. The target price is set at RMB 11.72, based on a PE ratio of 19.9 for 2025 [5][22].

Core Viewpoint - 中新集团 (601512.SH) reported a significant increase in revenue and net profit for the first three quarters of 2025, indicating strong financial performance and growth potential [1] Financial Performance - The total operating revenue for the first three quarters reached 2.601 billion yuan, representing a year-on-year growth of 30.98% [1] - The net profit attributable to shareholders of the parent company was 830 million yuan, showing a year-on-year increase of 23.46% [1] - The basic earnings per share stood at 0.55 yuan [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥496,972,538.44, representing a year-on-year increase of 4.81%[4] - The total profit for the period reached ¥370,822,963.15, showing a significant increase of 99.90% compared to the same period last year[4] - Net profit attributable to shareholders was ¥238,546,348.52, marking a substantial growth of 115.46% year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥227,343,315.74, reflecting a 119.92% increase compared to the previous year[4] - The basic earnings per share for the period was ¥0.16, up by 116.51% from the same quarter last year[6] - The company reported a significant increase in non-operating income, which rose by 72.35% year-to-date, primarily due to increased donations received[11] - Operating profit for the first three quarters of 2025 was ¥1,225,961,860.59, up 27% from ¥965,389,882.19 in the first three quarters of 2024[21] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥830,062,599.94, representing a 23.5% increase from ¥672,356,325.80 in the same period of 2024[22] - The company achieved a comprehensive income total of ¥992,994,787.93 for the first three quarters of 2025, compared to ¥770,469,248.26 in the same period of 2024, marking an increase of 28.8%[22] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.55, up from ¥0.45 in the same period of 2024, reflecting a growth of 22.2%[22] - Net profit for the first three quarters of 2025 was ¥600,379,922.24, representing a year-on-year increase of 7.6% from ¥558,013,235.53 in 2024[31] - The total profit for the first three quarters of 2025 was ¥764,816,814.00, up 5.4% from ¥725,341,900.84 in 2024[31] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥35,593,017,494.02, a slight increase of 0.65% from the end of the previous year[6] - The equity attributable to shareholders increased to ¥15,080,591,558.05, which is a 4.41% rise compared to the previous year[6] - Total current assets as of September 30, 2025, amount to ¥16,696,569,834.53, a slight decrease from ¥16,897,840,203.85 at the end of 2024[17] - Total non-current assets as of September 30, 2025, are ¥18,896,447,659.49, up from ¥18,465,442,134.87[18] - Total assets increased to ¥35,593,017,494.02 from ¥35,363,282,338.72[18] - Current liabilities decreased to ¥7,906,706,118.88 from ¥9,369,957,746.92[18] - Long-term borrowings increased to ¥6,197,396,164.69 from ¥5,128,188,854.49, indicating a rise of approximately 20.9%[18] - Total liabilities decreased to ¥15,593,340,111.50 in 2025 from ¥16,159,522,921.08 in 2024, reflecting a reduction of approximately 3.5%[19] - Total equity increased to ¥19,999,677,382.52 in 2025, up from ¥19,203,759,417.64 in 2024, indicating a growth of about 4.1%[19] Cash Flow - Cash flow from operating activities for the year-to-date was ¥911,207,975.30, representing a 42.83% increase[6] - Operating cash flow generated from operating activities was RMB 911,207,975.30, an increase from RMB 637,988,619.51 year-over-year[25] - Cash inflow from investment activities totaled RMB 582,135,487.01, compared to RMB 283,517,126.42 in the previous period[26] - Net cash flow from financing activities was negative at RMB -876,755,254.12, worsening from RMB -542,417,956.92 year-over-year[26] - Cash flow from operating activities for the first three quarters of 2025 was ¥610,254,118.34, compared to ¥574,217,549.37 in 2024, indicating a 6.3% increase[33] - Cash flow from investing activities showed a net inflow of ¥50,014,374.23 in 2025, a recovery from a net outflow of ¥370,404,189.72 in 2024[34] - Cash flow from financing activities resulted in a net outflow of ¥1,134,621,711.50 in 2025, worsening from a net outflow of ¥600,776,976.85 in 2024[34] Shareholder Information - Total number of common shareholders at the end of the reporting period is 22,162[14] - The largest shareholder, Suzhou Zhongfang Holdings, holds 701,480,000 shares, representing 46.80% of total shares[15] - The second largest shareholder, Singapore-Suzhou Township Development PTE, holds 377,720,000 shares, accounting for 25.20%[15] - The company has not disclosed any significant changes in shareholder relationships or actions[16] Operational Efficiency - The company reported a gross profit margin improvement, with total operating costs rising to ¥1,916,804,352.15, compared to ¥1,327,589,388.23 in the previous year[20] - Research and development expenses decreased to ¥7,838,229.71 in 2025 from ¥9,255,435.28 in 2024, showing a reduction of approximately 15.3%[21] - The company reported a decrease in operating costs to ¥692,489,689.41 in 2025 from ¥186,184,329.85 in 2024, reflecting a significant increase in operational efficiency[30] - The company’s investment income rose to ¥141,911,325.80 in 2025, compared to ¥76,472,415.17 in 2024, marking an increase of 85.7%[31] Inventory and Cash Management - The company reported a decrease in inventory to RMB 1,279,748,238.24 from RMB 1,755,883,038.94[27] - The company's cash and cash equivalents at the end of the period were RMB 2,788,522,466.31, slightly up from RMB 2,725,479,780.02[26] - The company’s cash and cash equivalents at the end of September 2025 were ¥1,120,588,233.64, down from ¥1,465,661,181.67 at the end of September 2024[34]

Core Insights - The real estate development sector experienced a decline of 1.34% on October 9, with Shen Shen Fang A leading the drop [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Stock Performance - Notable gainers in the real estate sector included: - Daming City (600094) with a closing price of 4.86, up 8.48% on a trading volume of 757,500 shares and a turnover of 368 million [1] - Hefei Urban Construction (002208) closed at 8.37, up 7.31% with a trading volume of 1,394,600 shares and a turnover of 1.173 billion [1] - Wolong New Energy (600173) closed at 9.45, up 5.94% with a trading volume of 897,200 shares and a turnover of 828 million [1] - Major decliners included: - Shen Shen Fang A (000029) with a closing price of 30.22, down 10.01% on a trading volume of 112,700 shares and a turnover of 348 million [2] - Zhangjiang Changke (600895) closed at 49.46, down 9.99% with a trading volume of 1,475,800 shares and a turnover of 741.5 million [2] - New Town Holdings (601155) closed at 15.32, down 5.72% with a trading volume of 357,200 shares and a turnover of 54.9 million [2] Capital Flow - The real estate development sector saw a net outflow of 882 million from institutional investors, while retail investors contributed a net inflow of 49.1 million [2] - Key stocks with significant capital flow included: - Wolong New Energy (600173) with a net inflow of 1.19 billion from institutional investors, but a net outflow of 1.05 billion from retail investors [3] - Wanfang Development (600246) had a net inflow of 89.19 million from institutional investors, but a net outflow of 75.61 million from retail investors [3] - Hefei Urban Construction (002208) saw a net inflow of 82.03 million from institutional investors, with a net outflow of 16.89 million from retail investors [3]

Group 1 - The core viewpoint of the article highlights that China-Singapore Group has cumulatively committed to investing in 52 external market-oriented funds, with a total investment amount of approximately 4.4 billion yuan [1] - As of the end of June this year, the company has directly invested in 42 technology projects, with a total investment amount of 598 million yuan [1] - Representative projects include Silicon-based Flow (AI infrastructure), Cloud Deep (quadruped), Qianxun Intelligent (brain), Bridge Interface (cerebellum), and Muxi (GPU), which currently have a low indirect shareholding ratio, resulting in a minimal impact on the company's performance [1]