Core Viewpoint - The new residential project "Tianjing Yunxi Jiayuan" is set to be launched in the Guangming Central District, with a successful land auction at a base price of 1.994 billion yuan, indicating strong demand for residential properties in the area [1][2]. Land Auction Details - The land parcel A509-0074 was sold for 1.994 billion yuan, with a floor price of 18,380.08 yuan per square meter [1]. - The winning bidders include Shenzhen Zhenye Group, Shenzhen Qianhai Tianjian Real Estate Development Co., and Shenzhen Jianchen Investment Development Co. [1]. - The total land area is approximately 35,000 square meters, with a planned construction area of 108,500 square meters and a plot ratio of 3.1 [2]. Land Use and Planning Adjustments - The land was previously designated for industrial use and public green space, but has been reclassified to residential use following a planning adjustment by the Shenzhen Planning and Natural Resources Bureau [2][4]. - The residential area will require the construction of a 3,800 square meter kindergarten, a 600 square meter childcare facility, and community sports activity areas, with the kindergarten's ownership remaining with the government [4]. Location and Accessibility - The project is located in a core residential area of Guangming, directly opposite Huaxia Middle School and near other notable residential developments [8]. - Although not directly at a subway station, it is approximately 1 kilometer from the Guangming Avenue Station on Line 6, with future connectivity to the under-construction Line 13 expected by 2025 [8]. Surrounding Amenities - Within a 3-kilometer radius, the area boasts significant commercial centers such as Blue Whale World and Wanda Plaza, as well as cultural and recreational facilities like the Guangming Cultural and Art Center and the new Shenzhen Science Museum [10]. - The ecological resources are enhanced by proximity to Cuihu Park and Guangming Town, with an average green space per capita of 54.18 square meters, indicating a high living quality compared to the average in Guangming District [10].

深振业A今日涨停，全天换手率7.09%，成交额12.08亿元，振幅12.70%。龙虎榜数据显示，机构净卖出 1072.51万元，深股通净买入6109.50万元，营业部席位合计净买入4233.58万元。 深交所公开信息显示，当日该股因日涨幅偏离值达8.24%上榜，机构专用席位净卖出1072.51万元，深股 通净买入6109.50万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交3.46亿元，其中，买入成交额为2.20亿 元，卖出成交额为1.27亿元，合计净买入9270.58万元。 融资融券数据显示，该股最新（10月20日）两融余额为8.09亿元，其中，融资余额为8.08亿元，融券余 额为110.82万元。近5日融资余额合计增加5725.05万元，增幅为7.62%，融券余额合计减少55.80万元， 降幅33.49%。（数据宝） 深振业A10月21日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 深股通专用 | 11566.01 | 5456.50 | | 买二 | ...

Core Insights - The real estate development sector experienced a significant increase of 2.12% on October 21, with Shanghai Shanshui Development leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Group 1: Stock Performance - Shanghai Shanshui Development (600748) saw a closing price of 7.34, with a rise of 10.04% and a trading volume of 1.6369 million shares, totaling a transaction value of 1.13 billion [1] - Guangming Real Estate (600708) closed at 4.07, up 10.00%, with a trading volume of 879,600 shares and a transaction value of 349 million [1] - Yingxin Development (000620) closed at 1.98, also up 10.00%, with a trading volume of 2.9013 million shares and a transaction value of 564 million [1] - Hefei Urban Construction (002208) closed at 14.31, up 9.99%, with a trading volume of 1.1404 million shares and a transaction value of 1.578 billion [1] - Other notable performers include Shenzhen Zhenye A (000006) with a closing price of 13.22, up 9.98%, and a transaction value of 1.208 billion [1] Group 2: Capital Flow - The real estate development sector saw a net inflow of 854 million from main funds, while speculative funds experienced a net outflow of 907 million [3] - Retail investors contributed a net inflow of 53.01 million [3]

Summary of Key Points Core Viewpoint - Shen Zhen Ye A experienced a significant decline of 7.74% in its stock price, with a trading volume of 1.642 billion yuan and a turnover rate of 10.56% on the day of reporting [2]. Trading Activity - The stock was listed on the Shenzhen Stock Exchange for a deviation of -7.17% due to its daily drop, with institutional investors net buying 15.92 million yuan and the Shenzhen Stock Connect net buying 44.52 million yuan [2]. - The top five trading departments accounted for a total transaction of 356 million yuan, with a net buying amount of 52.88 million yuan [2]. - Among the trading departments, four institutional special seats were involved, with a total net buying of 15.92 million yuan [2]. Fund Flow - The stock saw a net outflow of 44.93 million yuan in principal funds, with large orders showing a net inflow of 5.18 million yuan and large orders showing a net outflow of 50.11 million yuan [2]. - Over the past five days, the stock has experienced a net outflow of 588 million yuan in principal funds [2]. Margin Trading Data - As of October 15, the margin trading balance for the stock was 743 million yuan, with a financing balance of 742 million yuan and a securities lending balance of 1.29 million yuan [3]. - In the last five days, the financing balance increased by 42.79 million yuan, representing a growth of 6.12%, while the securities lending balance increased by 0.28 million yuan, with a growth rate of 27.60% [3]. Detailed Trading Information - The top buying and selling departments included the Shenzhen Stock Connect, which had the highest buying amount of 91.39 million yuan and selling amount of 46.88 million yuan [3][4]. - Other notable buying departments included China Galaxy Securities and several institutional special seats, with varying amounts of buying and selling activity [3][4].

股票代码：000006.SZ 债券简称：深振业A 债券代码：148280.SZ 债券简称：23振业01 债券代码：148395.SZ 债券简称：23振业02 招商证券股份有限公司 关于深圳市振业（集团）股份有限公司 2025年第三次临时受托管理事务报告 债券受托管理人：招商证券股份有限公司 住所：深圳市福田区福田街道福华一路 111 号 二〇二五年十月 重要声明 本报告依据《公司债券发行与交易管理办法》、《公司债券受托管理人执业行 为准则》、本次债券《募集说明书》、《受托管理协议》等相关规定、重大事项相 关公开信息、深圳市振业（集团）股份有限公司（以下简称"公司"、"发行人"）信 息披露文件及发行人出具的相关说明和提供的相关资料等，由本次公司债券的受托 管理人招商证券股份有限公司（以下简称"招商证券"、"受托管理人"）编制。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关事 宜做出独立判断，而不应将本报告中的任何内容据以作为招商证券所做承诺或声明。 请投资者独立征询专业机构意见，在任何情况下，投资者不能将本报告作为投资行 为依据。 2 招商证券股份有限公司作为深圳市振业（集团）股份有限公司 ...

Market Overview - On October 16, the real estate development sector declined by 0.69% compared to the previous trading day, with Shen Zhen Ye A leading the decline [1] - The Shanghai Composite Index closed at 3916.23, up 0.1%, while the Shenzhen Component Index closed at 13086.41, down 0.25% [1] Stock Performance - Notable gainers in the real estate sector included: - Shangshi Development (600748) with a closing price of 5.78, up 10.10% and a trading volume of 325,100 shares [1] - Shahe Co. (000014) with a closing price of 22.33, up 10.00% and a trading volume of 176,200 shares [1] - Hefei Urban Construction (002208) with a closing price of 11.81, up 9.96% and a trading volume of 1,312,300 shares [1] - Major decliners included: - Shen Zhen Ye A (000006) with a closing price of 11.45, down 7.74% and a trading volume of 1,426,100 shares [2] - Quzhou Development (600208) with a closing price of 4.60, down 3.97% and a trading volume of 1,481,300 shares [2] Capital Flow - The real estate development sector experienced a net outflow of 627 million yuan from institutional investors, while retail investors saw a net inflow of 655 million yuan [2] - The capital flow for specific stocks showed: - Hefei Urban Construction (002208) had a net inflow of 25 million yuan from institutional investors [3] - Shahe Co. (000014) had a net inflow of 72.77 million yuan from institutional investors [3] - Shen Zhen Ye A (000011) had a net outflow of 83.16 million yuan from retail investors [3]

Group 1 - The Shenzhen state-owned enterprise reform concept index declined by 0.78%, ranking among the top declines in concept sectors, with stocks like Shen Zhen Yi A and Shen Fang Zhi A hitting the daily limit down [1][2] - Among the stocks in the Shenzhen state-owned enterprise reform sector, 12 stocks saw price increases, with Tian Yin Holdings, Te Fa Information, and Shen Shui Gui Yuan leading the gains at 2.39%, 1.92%, and 1.79% respectively [1][2] - The sector experienced a net outflow of 156 million yuan from major funds, with 14 stocks seeing net outflows, and Shen Zhen Yi A leading with a net outflow of 61.05 million yuan [2][3] Group 2 - The top gainers in today's concept sectors included Tong Hua Shun Guo Index at 3.40%, Cell Immunotherapy at 3.18%, and PEEK Materials at 3.06%, while the military equipment restructuring concept fell by 1.88% [2] - Major fund inflows were observed in Tian Yin Holdings, Shenzhen Energy, and Agricultural Products, with net inflows of 31.32 million yuan, 8.29 million yuan, and 6.23 million yuan respectively [2][3] - The stocks with the highest net outflows included Sha He Shares, Shen Sai Ge, and Shen Wu Yi A, with net outflows of 32.55 million yuan, 22.21 million yuan, and 18.35 million yuan respectively [2][3]

Group 1 - The stock of Shen Zhen Yie A experienced a limit down, with a turnover rate of 6.57% and a trading volume of 1.114 billion yuan, showing a fluctuation of 6.45% [1] - Institutional investors net sold 26.62 million yuan, while the Shenzhen Stock Connect saw a net sell of 39.68 million yuan [2] - The stock was listed on the exchange due to a daily decline deviation of -11.57% [2] Group 2 - The top five trading departments had a total transaction of 259 million yuan, with a net sell of 10.03 million yuan [2] - The main funds saw a net outflow of 61.05 million yuan, with large orders contributing to a net outflow of 31.59 million yuan [2] - The latest margin trading data shows a total margin balance of 721 million yuan, with a financing balance of 719 million yuan and a securities lending balance of 1.6 million yuan [2]

Group 1 - A-shares saw a total of 82 stocks hitting the daily limit up and 7 stocks hitting the limit down on October 15 [1] - The automotive sector was active, with Zhongtong Bus and Haima Automobile reaching the limit up [1] - The electric grid equipment sector strengthened, with Heshun Electric and Jinpan Technology also hitting the limit up [1] Group 2 - *ST Yuancheng experienced three consecutive limit downs [2] - *ST Yatai and *ST Mubang faced two consecutive limit downs [2] - Other companies such as Shen Zhenye A, Ruyi Group, and Aopu Optoelectronics also hit the limit down [2]

New Stock Issuance - He Yuan Bio (787765) issued shares at a price of 29.06 on October 14, 2025[1] - The offer period for the acquisition of Shangwei New Materials (688585) is from September 29, 2025, to October 28, 2025[1] Market Alerts - Significant abnormal fluctuations reported for Nanjing New Pharmaceutical (688189) on October 10, 2025[1] - Multiple companies including Hefei Urban Construction (002208) and ST Jianyi (002789) have recent announcements regarding their stock performance[1] Trading Notifications - A total of 30 companies have trading notifications on October 14, 2025, indicating various market activities[1] - Companies such as ST Er Ya (600107) and Guangdong Mingzhu (600382) are among those with recent trading alerts[1]