Core Viewpoint - The company has completed the cancellation of repurchased shares, which will positively impact its capital structure and shareholder returns [2][7][8]. Group 1: Share Repurchase and Cancellation Details - The company repurchased a total of 97,215,300 shares in 2024, with 80,115,300 shares being canceled, representing 82.41% of the repurchased shares and 5.4% of the total shares before cancellation [2][7]. - The total amount for the canceled shares was RMB 246,695,724.11, and after the cancellation, the total share capital decreased from 1,483,934,025 shares to 1,403,818,725 shares [2][7][8]. - The repurchase was approved by the board on January 10, 2024, and the total funds allocated for the repurchase were increased from RMB 5 million to a range of RMB 15 million to RMB 30 million [2][3]. Group 2: Impact on Shareholder Structure - Following the cancellation, the controlling shareholder, Hualian Group, saw its ownership percentage increase from 28.21% to 29.82% without changing the number of shares held [7][8]. - This change in ownership percentage does not trigger a mandatory tender offer and does not affect the company's governance structure or ongoing operations [8]. Group 3: Financial Implications - The cancellation of shares is treated as a cash dividend, with the amount equivalent to the repurchase value of RMB 246,695,724.11, enhancing earnings per share and net asset value [8][9]. - The company asserts that this action will not significantly impact its financial condition, debt repayment ability, or shareholder equity [8].

证券代码：000036 证券简称：华联控股 公告编号：2025-050 华联控股股份有限公司 关于回购股份注销完成暨股份变动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 特别提示： 1.公司2024年度回购股份97,215,300股，本次注销的回购股份数量为80,115,300股， 占 回 购 股 份 的 82.41% ， 占 注 销 前 公 司 总 股 本 的 5.4% ， 回 购 注 销 金 额 为 人 民 币 246,695,724.11 元 。本次注销完成后，公司总股本由 1,483,934,025 股变更为 1,403,818,725 股。 1.公司于 2024 年 1 月 10 日召开第十一届董事会第十二次（临时）会议，审 议通过了《关于回购公司股份方案的议案》，同意公司使用自有资金以集中竞价 交易方式回购公司部分人民币普通股 A 股股份。2024 年 2 月 1 日，公司召开第 十一届董事会第十四次（临时）会议，审议通过了《关于增加回购股份资金总额 的议案》，同意公司将拟用于回购股份的资金总额由原来的"不低于人民币 5,000 万元（含 ...

Group 1 - The core viewpoint of the article highlights the performance of the China Securities Hong Kong 300 Value Index, which has shown significant increases over various time frames, including a 4.88% rise in the past month, a 17.58% rise in the past three months, and a 19.70% rise year-to-date [1] - The China Securities Hong Kong 300 Value Index consists of four indices: the China Securities Hong Kong 300 Growth Index, the China Securities Hong Kong 300 Value Index, the China Securities Hong Kong 300 Relative Growth Index, and the China Securities Hong Kong 300 Relative Value Index, reflecting the overall performance of different style securities based on the China Securities Hong Kong 300 Index sample [1] - The top ten holdings of the China Securities Hong Kong 300 Value Index include major financial institutions and corporations, with the largest weight being China Construction Bank at 10.49%, followed by HSBC Holdings at 9.78% and China Mobile at 7.34% [1] Group 2 - The industry composition of the China Securities Hong Kong 300 Value Index shows that the financial sector dominates with a 59.13% share, followed by communication services at 11.02% and energy at 10.44% [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December each year, ensuring that the sample ratio does not exceed 20% during each adjustment [2] - The weight factors of the index holdings are generally fixed until the next scheduled adjustment, with provisions for temporary adjustments in case of sample changes due to delistings or corporate actions such as mergers and acquisitions [2]

Core Viewpoint - Recently, nearly 20 banks in Shenzhen issued statements warning against a loan intermediary, Xin Xin Hui Lin (Shenzhen) Consulting Service Co., Ltd, which falsely claimed to be affiliated with these banks [2][5][10]. Group 1: Bank Responses - Multiple banks, including major institutions like China Construction Bank and Industrial and Commercial Bank of China, explicitly named Xin Xin Hui Lin in their statements, clarifying that they have no partnership with the intermediary [2][5]. - The banks urged consumers to be cautious of misleading claims such as "internal interest rate reductions" and "credit score improvement" [3][5]. Group 2: Xin Xin Hui Lin's Operations - Xin Xin Hui Lin has been promoting itself through advertisements claiming partnerships with various banks, offering services like interest rate reductions and charging high service fees [6][8]. - The company was established only six months ago, with a registered capital of 10 million yuan, and has rapidly expanded by being a shareholder in nine other consulting firms [7]. Group 3: Regulatory Context - The collective action by banks to issue warnings is unprecedented in recent years, reflecting a strong commitment to compliance and consumer protection amid ongoing regulatory crackdowns on financial misconduct [9][10]. - Regulatory bodies have intensified efforts to combat illegal financial practices, particularly in the loan, insurance, and credit card sectors [10][11]. Group 4: Consumer Awareness - Experts highlight the issue of information asymmetry in the financial sector, which leaves consumers vulnerable to scams by loan intermediaries [12][13]. - It is recommended that consumers apply for loans directly through legitimate financial institutions or their official online channels to avoid potential fraud [14].

Core Viewpoint - The six major state-owned banks in China have all established financial asset investment companies (AIC), with Postal Savings Bank announcing a capital investment of 10 billion RMB to set up a new AIC [1] Group 1: Company Developments - Postal Savings Bank plans to invest 10 billion RMB to establish Zhongyou Financial Asset Investment Co., Ltd [1] - Other major banks, including China Merchants Bank, CITIC Bank, and Industrial Bank, have also been approved to set up their AICs with registered capital of 15 billion RMB, 10 billion RMB, and 10 billion RMB respectively [1] Group 2: Industry Trends - The expansion of AICs among joint-stock banks is expected to intensify market competition in the short term [1] - In the long term, the business scope of AICs may further broaden, indicating potential growth opportunities in the financial sector [1]

Group 1 - Multiple banks in Shenzhen have issued statements regarding a loan intermediary, Xin Xin Hui Lin (Shenzhen) Consulting Service Co., Ltd., which is accused of impersonating banks to attract customers [1][3] - The involved banks include major institutions such as China Construction Bank, Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, and others, totaling 19 banks that have released related statements [1] - Xin Xin Hui Lin claims to provide services for lowering interest rates and has been promoting itself as a "lower interest station," despite banks denying any partnership with the intermediary [3][4] Group 2 - Regulatory authorities have intervened in the investigation of the loan intermediary's practices, which included misleading advertisements claiming partnerships with various banks [2][4] - Recent regulatory actions have intensified scrutiny on loan assistance platforms, with the Ningxia local financial management bureau revoking the operating qualifications of seven loan intermediaries [4] - A notice was issued by regulatory bodies in April to strengthen the management of internet loan assistance services, set to take effect on October 1 [5]

Core Viewpoint - The company has successfully completed its share repurchase plan, acquiring a total of 8,414,980 shares, which represents 0.57% of its total share capital, within the specified time frame and budget [1][2]. Summary by Sections Share Repurchase Implementation - The company repurchased shares at a total cost of RMB 30,050,066.10, with a maximum price of RMB 3.77 per share and a minimum price of RMB 3.38 per share [2]. - The repurchase was conducted from May 22, 2025, to July 9, 2025, and adhered to the approved repurchase plan and relevant regulations [2]. Compliance and Impact - The repurchase did not significantly affect the company's financial, operational, or debt servicing capabilities, and there were no changes in control or listing status [2][3]. - The company confirmed that all aspects of the repurchase, including price and quantity, complied with the initial plan and regulatory requirements [4]. Share Structure Changes - The total share capital before and after the repurchase remains at 1,483,934,025 shares, with no change in the proportion of restricted and unrestricted shares [3]. - The repurchased shares will be held in a special securities account and will not have voting rights or profit distribution rights during the holding period [4]. Future Arrangements - The company plans to sell the repurchased shares through centralized bidding within twelve months after the announcement of the repurchase results, with a three-year deadline for completion [4].

证券代码：000036 证券简称：华联控股 公告编号：2025-049 4.截至 2025 年 7 月 9 日，公司本次回购股份期限届满。公司通过深圳证券 交易所股票交易系统以集中竞价交易方式回购公司股份 8,414,980 股，占公司当 前总股本的 0.57%，最高成交价为 3.77 元/股，最低成交价为 3.38 元/股，成交 总金额为人民币 30,050,066.10 元（不含交易费用）。公司本次回购金额已达到 回购方案中的回购资金总额下限，且不超过回购资金总额上限，本次回购方案实 华联控股股份有限公司 关于回购期限届满暨股份回购实施结果的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 华联控股股份有限公司(以下简称"公司") 于 2025 年 4 月 9 日召开第十一 届董事会第二十二次会议，审议通过了《关于回购公司股份方案的议案》，同意 公司以自有资金回购公司已发行的人民币普通股（A 股）股票，用于维护公司价 值及股东权益所必需。本次拟用于回购的资金总额不低于人民币 3,000 万元（含） 且不超过人民币 6,000 万元（含），回购股份的实施 ...

Core Viewpoint - The "Hualian Luanshanfu" project, which has faced numerous delays since its planning in 2006, is finally set to enter the market after nearly two decades of development challenges, with a recent announcement of its resumption of construction in 2024 [1][13]. Project Overview - The project is located in the Bao'an District, specifically at the intersection of Guangshen Highway and Hangcheng Avenue, and is a collaboration between Hualian Holdings and Hengyu Group, with a construction planning permit expected to be issued in January 2025 [4]. - The total construction area is approximately 124,300 square meters, with a land area of about 21,900 square meters, a floor area ratio of 4.19, and a green space ratio of 25% [6]. - The development consists of seven buildings, including five residential towers ranging from 28 to 38 stories, totaling 504 units, along with a six-story commercial building and a 21-story office building [7]. Design and Amenities - The project features a high-end residential configuration, including a heated swimming pool and optimized design elements such as the shape and location of the rooftop landscape pavilion and swimming pool [3][8]. - The residential units will range from approximately 96 to 119 square meters for flats and 133 to 170 square meters for duplexes, with sales expected to begin in October [10]. Market Context - The project is positioned in a highly sought-after area where residential land is scarce, which is anticipated to alleviate the demand for new housing in the region [11]. - The surrounding infrastructure includes access to the Metro Line 12 and the upcoming Line 20, as well as educational institutions and shopping centers, enhancing the project's attractiveness [10]. Company Background - The development is managed by Shenzhen Jinghengtai Real Estate Development Co., Ltd., which has undergone several name changes and is fully owned by Hualian Holdings [15][17]. - Hualian Holdings' involvement in the project reflects its strategic commitment to resolving historical issues and strengthening its presence in the Shenzhen real estate market [22].

Core Viewpoint - The real estate market is experiencing further differentiation in sales performance, with certain hot regions, particularly first-tier and some new first-tier cities, maintaining a level of transaction activity [1][4]. Sales Data Disclosure - Poly Developments reported a signed area of 1.5233 million square meters and a signed amount of 29.011 billion yuan in June 2025. For the first half of 2025, the company achieved a signed area of 7.1354 million square meters and a signed amount of 145.171 billion yuan [2]. - Country Garden achieved a sales amount of 2.81 billion yuan and a sales area of 350,000 square meters in June. From January to June, the sales amount was 16.75 billion yuan with a sales area of 2.049 million square meters [2]. - Zhengrong Real Estate reported a cumulative contract sales amount of approximately 402 million yuan and a sales area of about 23,400 square meters in June. For the first half of 2025, the cumulative contract sales amount was approximately 2.365 billion yuan with a sales area of about 142,600 square meters [2]. Market Activity in Hot Regions - In Shenzhen, 5,546 second-hand homes were recorded in June 2025, a month-on-month decrease of 3.2% but a year-on-year increase of 4.5%. The average monthly recorded volume for the first half of 2025 was 5,851 units, indicating a sustained active market driven by policy support and demand release [4]. - The Shenzhen Beike Research Institute anticipates that the market activity in the second half of the year will improve due to continued loose policies and the traditional sales peak season [4]. Industry Analysis - The real estate market is stabilizing amid policy guidance, demand adjustments, and industry transformation. The market is transitioning from "incremental decline" to "quality improvement," with core high-end projects in first-tier cities supporting price increases [5]. - New first-tier and second-tier cities are expected to see price stabilization and recovery as quality housing supply increases, while third and fourth-tier cities may continue to adopt "price for volume" strategies [5]. Policy Support - Cities like Xi'an and Qingdao have recently introduced favorable policies to support the real estate market, including expanding the scope of housing provident fund payment for down payments [6]. - Beijing is working on regulations to better protect consumer rights in the housing rental market, which includes oversight of personal subletting activities [7]. Future Outlook - The year 2025 is viewed as a transitional period for the real estate market, with ongoing adjustments leading to new dynamics. There is potential for further reductions in mortgage rates and possible easing of purchase restrictions in certain cities [7].