Core Viewpoint - Tianjin Jinbin Development Co., Ltd. experienced a decline of 5.02% in stock price, closing at 2.46 CNY per share, with a total market capitalization of 3.978 billion CNY [1] Company Overview - Tianjin Jinbin Development was established on December 31, 1998, and listed on April 22, 1999. The company is primarily engaged in real estate development and trading [1] - The revenue composition of the company is as follows: 82.42% from real estate sales, 15.37% from property management, 1.65% from rental income, and 0.56% from other sources [1] Shareholder Information - Among the top circulating shareholders, a fund under Southern Fund holds a significant position. The Southern CSI Real Estate ETF Fund (004642) reduced its holdings by 148,500 shares in the third quarter, now holding 16.3382 million shares, which represents 1.01% of the circulating shares [2] - The estimated floating loss for the fund today is approximately 2.124 million CNY [2] Fund Performance - The Southern CSI Real Estate ETF Fund (004642) was established on August 24, 2017, with a current size of 202 million CNY. Year-to-date returns are 11.65%, ranking 3513 out of 4212 in its category, while the one-year return is 2.78%, ranking 3724 out of 3956. Since inception, the fund has incurred a loss of 37.78% [2]

Core Viewpoint - Tianjin Jinbin Development Co., Ltd. has experienced a stock price increase of 11.21% year-to-date, with significant recent gains, indicating positive market sentiment despite a substantial decline in revenue and profit [2]. Group 1: Stock Performance - As of November 13, the stock price rose by 2.02% to 2.53 CNY per share, with a trading volume of 79.1 million CNY and a turnover rate of 1.97%, resulting in a total market capitalization of 4.092 billion CNY [1]. - The stock has increased by 4.55% over the last five trading days, 10.48% over the last 20 days, and 2.43% over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, the company reported a revenue of 307 million CNY, a year-on-year decrease of 81.42%, and a net profit attributable to shareholders of 18.2 million CNY, down 95.10% year-on-year [2]. - Cumulative cash dividends since the company's A-share listing amount to 484 million CNY, with 154 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 4.60% to 82,000, with an average of 19,733 circulating shares per shareholder, an increase of 4.82% [2]. - The fourth largest circulating shareholder is the Southern CSI Real Estate ETF, holding 16.34 million shares, which is a decrease of 148,500 shares compared to the previous period [3].

Market Overview - On November 12, the Tianjin state-owned enterprise reform sector declined by 0.36% compared to the previous trading day, with Baili Electric leading the decline [1] - The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1] Stock Performance - Key stocks in the Tianjin state-owned enterprise reform sector showed mixed performance, with T-712 rising by 1.98% to close at 20.56, and Baili Electric falling by 3.54% to close at 7.08 [1][2] - The trading volume and turnover for T-712 were 302,000 shares and 636 million yuan, respectively [1] Capital Flow - The Tianjin state-owned enterprise reform sector experienced a net outflow of 102 million yuan from institutional investors, while retail investors saw a net inflow of 168 million yuan [2] - The capital flow data indicates that while institutional and speculative funds withdrew, retail investors were actively buying into the sector [2][3] Individual Stock Analysis - T-712 had a net inflow of 78.32 million yuan from institutional investors, while Baili Electric saw a significant outflow of 78.51 million yuan [3] - The stock of Tianjin Port closed at 4.89, down 0.41%, with a trading volume of 209,600 shares [2][3]

Group 1 - The real estate sector experienced a short-term surge on November 4, with China Wuyi hitting the daily limit up [1] - Guangda Jiabao previously reached the limit up, indicating strong market interest [1] - Other companies such as Hefei Urban Construction, Tianjin Binhai Development, and Zhujiang Co. also saw increases in their stock prices [1]

Core Insights - The Tianjin state-owned enterprise reform sector saw a slight increase of 0.2% on October 31, with Haitai Development leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance Summary - Haitai Development (600082) closed at 4.72, up 6.07% with a trading volume of 399,300 shares and a turnover of 185 million yuan [1] - Guifaxiang (002820) closed at 12.80, up 3.90% with a trading volume of 137,100 shares and a turnover of 174 million yuan [1] - Tianbao Infrastructure (000965) closed at 4.38, up 2.10% with a trading volume of 861,500 shares and a turnover of 380 million yuan [1] - Other notable stocks include Jinmeng Technology (300334) at 7.50 (+1.90%), Bohai Chemical (600800) at 3.83 (+1.86%), and Jintou City Development (600322) at 2.51 (+1.21%) [1] Capital Flow Analysis - The Tianjin state-owned enterprise reform sector experienced a net inflow of 67.98 million yuan from institutional investors, while retail investors saw a net outflow of 84.03 million yuan [2][3] - The main capital inflow was observed in Tianbao Infrastructure (000965) with a net inflow of 49.38 million yuan, while Jin Kai New Energy (600821) faced a significant net outflow of 66.21 million yuan [3]

Group 1 - The Tianjin Free Trade Zone concept declined by 2.70%, ranking among the top declines in the concept sector, with companies like Saixiang Technology hitting the limit down [1] - Major stocks within the Tianjin Free Trade Zone concept that experienced significant declines include HNA Technology, Jintou City Development, and Bohai Chemical [1] - The net outflow of main funds from the Tianjin Free Trade Zone concept reached 276 million yuan, with 11 stocks experiencing net outflows, and 5 stocks seeing outflows exceeding 10 million yuan [2] Group 2 - HNA Technology had the largest net outflow of main funds at 113 million yuan, followed by Saixiang Technology and Jiuan Medical with net outflows of 107 million yuan and 2.52 million yuan respectively [2] - The stocks with the highest net inflows included Youfa Group, Tianjin Port, and Haitai Development, with inflows of 19.56 million yuan, 11.50 million yuan, and 5.79 million yuan respectively [3] - The trading performance of key stocks in the Tianjin Free Trade Zone concept showed significant volatility, with Saixiang Technology down by 10% and HNA Technology down by 5.92% [2][3]

Market Overview - On October 29, the Tianjin state-owned enterprise reform sector fell by 0.13% compared to the previous trading day, with Gui Faxiang leading the decline [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Key stocks in the Tianjin state-owned enterprise reform sector showed mixed performance, with Jin Kai New Energy (600821) rising by 1.93% to close at 5.81, and Gui Faxiang (002820) falling by 3.39% to close at 12.55 [1][2] - The trading volume and turnover for notable stocks included: - Jin Kai New Energy: 455,800 shares traded, turnover of 263 million yuan - Tianjin Port (600717): 253,400 shares traded, turnover of 122 million yuan - Gui Faxiang: 141,400 shares traded, turnover of 178 million yuan [1][2] Capital Flow - The Tianjin state-owned enterprise reform sector experienced a net outflow of 85.1 million yuan from institutional investors, while retail investors saw a net inflow of 108 million yuan [2][3] - Notable capital flows for specific stocks included: - Tianjin Investment City Development (600322): Net inflow of 24.4 million yuan from institutional investors - Jin Kai New Energy (600821): Net inflow of 13.05 million yuan from institutional investors - Gui Faxiang (002820): Net outflow of 9.5 million yuan from institutional investors [2][3]

Core Viewpoint - Tianjin Bin Development (000897.SZ) reported a significant decline in revenue and net profit for the first three quarters of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved an operating revenue of 307 million yuan, representing a year-on-year decrease of 81.42% [1] - The net profit attributable to shareholders was 18.1964 million yuan, down 95.10% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 18.6283 million yuan, reflecting a 94.99% year-on-year decline [1]

Financial Performance - The company's operating revenue for the third quarter was ¥111,777,827.40, a decrease of 61.77% compared to the same period last year[5] - The net profit attributable to shareholders was ¥16,034,784.22, down 59.42% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥15,928,861.12, a decrease of 59.68%[5] - Total operating revenue for the current period is ¥307,466,404.40, a significant decrease from ¥1,654,851,312.07 in the previous period, representing a decline of approximately 81.5%[14] - Net profit for the current period is ¥14,515,919.34, compared to ¥368,514,961.65 in the previous period, reflecting a decrease of approximately 96.1%[15] - The company reported a basic earnings per share of ¥0.0099, down 59.43% year-on-year[5] - Basic and diluted earnings per share for the current period are both ¥0.0113, a significant drop from ¥0.2296 in the previous period[16] - The company incurred a total tax expense of ¥16,600,254.85, down from ¥80,714,769.24 in the previous period, a reduction of approximately 79.5%[15] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,487,118,686.13, representing a decline of 8.63% from the end of the previous year[5] - The total assets of Tianjin Jinbin Development Co., Ltd. decreased from CNY 4,911,070,937.17 to CNY 4,487,118,686.13, reflecting a decline of approximately 8.6%[11] - Current assets decreased from CNY 4,412,163,135.48 to CNY 4,188,486,042.19, a reduction of about 5.1%[11] - Total liabilities decreased from CNY 1,599,793,503.57 to CNY 1,314,966,195.42, a decline of about 17.8%[12] - The company's total liabilities to equity ratio improved from 0.48 to 0.41, indicating a stronger equity position[12] - The company's equity decreased from CNY 3,311,277,433.60 to CNY 3,172,152,490.71, reflecting a decrease of approximately 4.2%[13] Cash Flow - The cash flow from operating activities showed a net outflow of ¥662,574,147.04, a significant decrease of 548.19% compared to the same period last year[5] - The net cash flow from operating activities is -¥662,574,147.04, worsening from -¥102,218,759.40 in the previous period[17] - Cash and cash equivalents at the end of the period stand at ¥488,073,408.54, down from ¥1,327,442,640.36 at the end of the previous period, a decline of about 63.3%[18] - The company’s cash and cash equivalents showed a net decrease of ¥605,306,306.67, a decline of 679.42% year-on-year[8] - Total cash inflow from operating activities is ¥1,402,502,887.32, compared to ¥982,019,575.02 in the previous period, an increase of about 42.7%[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 81,953, with the largest shareholder holding 20.92% of the shares[9] Contract Liabilities and Inventory - The company experienced a significant increase in contract liabilities, which rose by 458.97% to ¥552,318,795.83, primarily due to the receipt of pre-sale housing payments[8] - The company reported a significant increase in contract liabilities from CNY 98,809,413.69 to CNY 552,318,795.83, an increase of approximately 459.5%[12] - Inventory rose from CNY 3,154,054,505.48 to CNY 3,352,177,663.40, indicating an increase of approximately 6.3%[11] Investment Income - The investment income for the year-to-date was ¥14,164,460.65, a decrease of 89.47% compared to the previous year[8] - The company reported an investment income of ¥14,164,460.65, down from ¥134,464,351.13 in the previous period, a decrease of approximately 89.5%[14] Other Information - The company has not reported any new product developments or market expansions during this period[19]

证券代码：000897 证券简称：津滨发展 公告编号：2025-19 为增加公司项目储备，公司全资子公司天津泰鸿房地产开发有限公司 （以下简称"泰鸿公司"），于 2025 年 10 月 27 日以联合竞买方式通过参 与公开挂牌获取了津北辰北（挂）2025-25 号地块项目。 2025 年 10 月 27 日 关于获取土地项目的自愿性信息披露公告 天津津滨发展股份有限公司 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。 董事会 该地块位于北辰区辰庆路与北辰道交口东南侧，四至范围为东至规划居 住用地，南至辰悦道，西至辰庆路，北至北辰道；该地块土地用途为城镇住 宅，国有建设用地使用权出让年限为 70 年；规划用地面积为 35206 平米， 容积率为≤1.4，计容建筑面积为 49288 平米。该地块出让成交价格为 36600 万元。本次竞拍的土地出让金总额在股东大会审议通过的土地储备额度授权 范围内。 本次联合竞买的合作方为天津城发置业有限公司，该公司不属于公司关 联人。后续泰鸿公司将通过与合作方共同成立由公司控股的项目子公司的方 式对该地块进行开发；公司或公司控股子 ...