Report Summary 1. Report Industry Investment Rating - No information regarding the industry investment rating is provided in the report. 2. Core View of the Report - The company's current business strategy is "real estate for stability, transformation for development." It aims to maintain stability in the real - estate sector while actively promoting industrial transformation to address sustainable development issues [25]. 3. Summary by Relevant Catalogs 3.1调研基本情况 - The research object is Hualian Holdings, belonging to the real - estate development industry. The reception time was July 4, 2025. The company's reception staff included Deputy General Manager and Board Secretary Kong Qingfu, Securities Business Department Manager and Securities Affairs Representative Lai Zena, and Securities Business Department Business Manager and Securities Affairs Representative Chen Zehua [17]. 3.2详细调研机构 - The research institution is Hunan Aiying Securities Investment Consultant, an investment consulting company. The relevant personnel are Yao Zexing, Zeng Fei, Li Bin, and Zeng Guoqing [20]. 3.3主要内容资料 - **Share Repurchase Plan**: From 2024 to 2025, the company implemented two phases of share repurchase plans. From January 2024 to January 2025, it repurchased 97.2153 million shares, accounting for 6.55% of the current total share capital, with a total transaction amount of RMB 299.969 million. It plans to cancel 80.1153 million shares, accounting for 5.40% of the current total share capital, and the remaining 17.1 million shares in the repurchase account are intended for equity incentives or employee stock ownership plans. From April to June 2025, it repurchased 6.508 million shares, accounting for 0.44% of the current total share capital, with a total transaction amount of RMB 22.9294 million, for the purpose of maintaining the company's value and shareholders' rights [24]. - **Projects Under Construction and Planned**: The project under construction is the "Yupin Luanshan" project, a pure residential urban renewal project on top of a subway station, with a floor - area ratio of 79,600 square meters and a total construction area of about 120,000 square meters. It started construction in October 2024 and is planned to start pre - sales by the end of 2025. The planned project is the "Hualian Nanshan A Area" project, with a "industrial - to - affordable - housing" renewal direction and a demolition area of 77,800 square meters. In April 2025, the draft of the renewal unit plan passed the special meeting of the Nanshan District Urban Renewal and Land Reclamation Work, and the relevant application and preliminary work are in progress [25]. - **Future Real - Estate Business and Transformation**: The company plans not to add new land reserves or real - estate development projects except for the "Yupin Luanshan" and "Hualian Nanshan A Area" projects. It is actively promoting the industrial transformation strategy. It participated in the establishment of the "Zhongbao Qingyuan Huihai Industrial Fund," investing 430 million yuan and holding 24% equity in Shenzhen Jueneng and 36% equity in Zhuhai Jueneng. It is also looking for investment opportunities in the new energy industry chain [25][26].

Core Insights - Chinese banks have shown remarkable performance in the 2025 Global Bank 1000 ranking, with four banks in the top five and six in the top ten, indicating a strong presence in the global banking sector [1][3] Group 1: Rankings and Performance - The top four banks globally are all Chinese: Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China, maintaining their positions for eight consecutive years [3] - China Merchants Bank improved its ranking from 10th to 8th, surpassing Wells Fargo, showcasing significant progress [3] - Chinese banks occupy half of the top 20 positions and 15 out of the top 50 banks, with no declines in rankings for the latter [4] Group 2: Individual Bank Strategies - Industrial and Commercial Bank of China achieved a 9.2% increase in total assets, focusing on loans to manufacturing, strategic emerging industries, and green development [6] - China Merchants Bank's success is attributed to its strong retail banking position and growth in non-interest income, which reached 126.2 billion yuan, accounting for 37.4% of its revenue [6] - Beijing Bank's growth strategy emphasizes regional development, with significant increases in technology and green loans, leading to a 43.69% rise in stock price [7] Group 3: Industry Trends - The global banking sector is experiencing increased concentration, with the top 20 banks accounting for 37.2% of total tier-one capital, up 0.2 percentage points from the previous year [8] - Chinese banks are expected to enhance their global competitiveness by solidifying capital structures and improving risk management capabilities [8] - There is a focus on supporting the real economy and adapting to global market conditions, particularly in the Asia-Pacific region [8]

Group 1: Share Buyback Plans - The company has implemented two phases of share buyback plans from 2024 to date, repurchasing a total of 9,721.53 million shares, which accounts for 6.55% of the current total share capital, with a total transaction amount of RMB 299,969,000 [1] - Out of the repurchased shares, 8,011.53 million shares are planned to be canceled, representing 5.40% of the current total share capital, while 1,710.00 million shares will be used for employee stock ownership plans [1] - From April to June 2025, the company repurchased an additional 650.80 million shares, accounting for 0.44% of the current total share capital, with a transaction amount of RMB 22,929,400 [1] Group 2: Current and Planned Projects - The company is currently constructing the "Yupin Luanshan" project, a residential project above a subway station, with a planned construction area of 79,600 m² and a total building area of approximately 120,000 m², which commenced in October 2024 and is expected to start pre-sales by the end of 2025 [2] - The planned project "Hualian Nanshan A District" focuses on urban renewal, with a demolition area of 77,800 m², and the planning proposal was approved in April 2025 [2] Group 3: Future Development and Industry Transformation - The company's strategic focus is on "stabilizing real estate while promoting transformation," with no new land reserves or real estate development projects planned beyond the two mentioned [2] - The company is actively pursuing an industrial transformation strategy, having invested RMB 430 million in establishing the "Zhongbao Qingyuan Huihai Industrial Fund," holding 24% and 36% stakes in Shenzhen Juneng and Zhuhai Juneng, respectively [2] - The company is also exploring investment opportunities in the new energy industry chain, leveraging the technical and management platforms of its invested companies [2]

证券代码：000036 证券简称：华联控股 公告编号：2025-048 华联控股股份有限公司 关于股份回购进展情况的公告 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），回购股份的实施期限为自董事会审议通过回 购 股 份 方 案 之 日 起 3 个 月 内 。 具 体 内 容 详 见 公 司 刊 登 在 巨 潮 资 讯 网 （www.cninfo.com.cn）的《华联控股第十一届董事会第二十二次会议决议公告》 《华联控股关于回购公司股份方案的公告》《华联控股回购股份报告书》（公告 编号：2025-003、2025-004、2025-006）。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 ...

Group 1 - The launch of the Cross-Border Payment System marks a significant development in the cross-border payment market, with multiple banks including Bank of China, Agricultural Bank of China, and China Construction Bank actively participating [1][2] - The first cross-border remittance transaction took place in Shenzhen, enabling real-time cross-border remittances between residents of mainland China and Hong Kong [1] - The initial participating banks from mainland China include Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank, while Hong Kong banks include Bank of China (Hong Kong), East Asia Bank, China Construction Bank (Asia), Hang Seng Bank, HSBC, and ICBC (Asia) [1] Group 2 - Bank of China has introduced the Cross-Border Payment System, allowing Hong Kong residents to register their mainland mobile numbers and initiate remittance transactions without needing to fill in additional account information, enhancing convenience [1][2] - Agricultural Bank of China has also launched its cross-border payment services, with a focus on real-time remittance for various scenarios such as tuition and medical payments, initially piloting in Shenzhen before expanding to other regions [2][3] - China Construction Bank has begun offering cross-border payment services in Guangdong, Shenzhen, and Hainan, with plans for nationwide rollout, and is currently waiving service fees for these transactions [3]

长江电力 中国核电 东方财富 7399.19亿市值 1945.73亿市值 3353.62亿市值 10.77亿成交额 2.55亿成交额 27.70亿成交额 9.46 30.24 21.22 +0.26(+0.87%) 0.00(0.00%) -0.24(-1.12%) 食品饮料 证券 中信证券 国泰海通 海天味业 期天 2338.79亿市值 3894.84亿市值 3305.57亿市值 7.31亿成交额 10.19亿成交额 2.81亿成交额 18.75 26.28 42.06 -0.15(-0.57%) +0.20(+1.08%) -0.06(-0.14%) 消费电子 化学制药 恒瑞医药 立讯精密 工业富联 4027.38亿市值 3674.20亿市值 2328.34亿市值 5.77亿成交额 18.90亿成交额 16.09亿成交额 55.64 32.12 20.28 -0.15(-0.73%) +1.28(+2.35%) +0.19(+0.60%) 家电行业 农牧饲渔 格力电器 牧原股份 海尔智家 出台名字 2516.15亿市值 2343.85亿市值 2318.95亿市值 7.83亿成交额 4.93亿成交额 6.4 ...

Core Viewpoint - The company has approved a share repurchase plan to maintain its value and protect shareholder interests, with a total repurchase fund ranging from RMB 30 million to RMB 60 million [1] Group 1: Share Repurchase Plan - The company plans to repurchase its issued A-shares using its own funds, with a total amount not less than RMB 30 million and not exceeding RMB 60 million [1] - The implementation period for the share repurchase is within three months from the date of the board's approval [1] Group 2: Progress of Share Repurchase - As of May 30, 2025, the company has repurchased 1,046,650 shares, accounting for 0.07% of the total share capital, with a total transaction amount of RMB 3,699,197.50 [1] - The highest transaction price was RMB 3.56 per share, and the lowest was RMB 3.50 per share [1] Group 3: Compliance with Regulations - The share repurchase complies with relevant regulations, including the timing and trading methods, ensuring no repurchase occurred during significant events that could affect stock prices [2] - The company adhered to the rules regarding the price limits and trading periods for share repurchase [2] Group 4: Future Arrangements - The company will continue to implement the repurchase plan based on market conditions and will fulfill its information disclosure obligations during the repurchase period [2]

Core Viewpoint - Hualian Holdings Co., Ltd. plans to change the purpose of repurchased shares from employee stock ownership plans to cancellation and reduction of registered capital, impacting the total number of shares outstanding [1][5]. Group 1: Share Repurchase and Capital Reduction - The company will change the use of 80,115,300 shares from "for employee stock ownership plans" to "for cancellation and reduction of registered capital" [1]. - After the cancellation of repurchased shares, the total number of shares will decrease from 1,483,934,025 to 1,403,818,725 [1]. Group 2: Creditor Notification - Creditors have the right to request debt repayment or guarantees within 30 days of receiving the notice, or 45 days from the announcement date if no notice is received [1]. - If creditors do not declare their claims within the specified period, the capital reduction will proceed as per legal procedures [1]. Group 3: Claim Submission Process - Creditors must provide original and copies of contracts or agreements proving the existence of the debt relationship when declaring claims [2]. - For corporate creditors, additional documents such as business licenses and identification of legal representatives are required [2]. - Claims can be submitted in person or by mail, with specific submission times and contact details provided [3][4].

证券代码：000036 证券简称：华联控股 公告编号：2025-047 华联控股股份有限公司 关于股份回购进展情况的公告 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），回购股份的实施期限为自董事会审议通过回 购 股 份 方 案 之 日 起 3 个 月 内 。 具 体 内 容 详 见 公 司 刊 登 在 巨 潮 资 讯 网 （www.cninfo.com.cn）的《华联控股第十一届董事会第二十二次会议决议公告》 《华联控股关于回购公司股份方案的公告》《华联控股回购股份报告书》（公告 编号：2025-003、2025-004、2025-006）。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 ...

华联控股于2025年4月25日召开第十一届董事会第二十三次会议，并于5月29日召开2024年度股东会，审 议通过变更部分回购股份用途并注销暨减少公司注册资本的议案。 变更回购股份用途，注销8011.53万股 华联控股拟对回购专用证券账户中，2024年回购方案回购且尚未使用的80,115,300股公司股份用途进行 变更，由"用于实施股权激励或员工持股计划"变更为"用于注销并相应减少公司注册资本"。同时，董事 会提请股东大会授权公司管理层办理本次股份注销及减少公司注册资本的相关手续。 上述回购股份注销完成后，公司注册资本将减少，股份总数将由1,483,934,025股变更为1,403,818,725 股。 债权人申报相关事项 根据《中华人民共和国公司法》等相关法律法规规定，债权人自接到公司通知之日起30日内、未接到通 知的自本公告披露之日起45日内，有权要求公司清偿债务或者提供相应的担保。 若债权人逾期未向公司申报债权，其债权有效性不受影响，相关债务（义务）将由公司按原债权文件约 定继续履行。债权人若要求公司清偿债务或提供相应担保，应按相关法律法规规定，向公司提出书面请 求，并随附相关证明文件。 声明：市场有风险 ...