Core Viewpoint - The real estate sector continues to face widespread losses, with most listed companies in the A-share market reporting varying degrees of deficit for 2025, except for the leading company, Poly Developments [2][3]. Group 1: Company Performance - Among the 27 listed real estate companies that have released performance forecasts, only Poly Developments reported a positive net profit of approximately 1.03 billion yuan, while the total losses of the other companies ranged from 47.546 billion to 62.464 billion yuan [3]. - Poly Developments experienced a revenue decline of 1.09% year-on-year, with a net profit drop of 79.49% due to decreased gross profit margins and anticipated asset impairment losses of about 6.9 billion yuan [3]. - Other companies, such as China Fortune Land Development, are projected to incur losses of 16 billion to 24 billion yuan for 2025, with net assets expected to decline by 10 billion to 15 billion yuan [4]. Group 2: Industry Challenges - The real estate sector has been struggling with significant losses since 2022, attributed to factors such as low-profit project settlements, increased impairment provisions, and rising interest expenses [6]. - The sales volume of commercial housing is expected to decline by 12.6% year-on-year in 2025, indicating ongoing market challenges [7]. - The real estate development prosperity index has been on a downward trend, reaching 91.45 by December 2025, reflecting a sluggish economic activity in the sector [7]. Group 3: Future Outlook - Analysts suggest that the adjustment cycle in the real estate market may be nearing its end by 2026, with potential growth in the high-quality residential market driven by policy support and demand structure upgrades [8]. - Companies facing significant losses must manage their market value and ensure compliance with financial reporting to avoid delisting risks, which could arise from continuous losses or failure to meet revenue thresholds [9].

Group 1 - The company held its 18th meeting of the 8th Board of Directors on January 19, 2026, with all 9 directors present, complying with legal and regulatory requirements [2][3] - The board approved a proposal regarding related party transactions, which had been reviewed and agreed upon by independent directors prior to the board meeting [3][4] - The related party transaction does not require shareholder approval as per the Shenzhen Stock Exchange regulations [5][10] Group 2 - The company’s subsidiary, Langfang Rongzhe, plans to acquire 100% equity of Yingde Jihong and Yingde Jiyue for a total consideration of 40 million yuan, with specific payment arrangements [9][29] - The transaction involves a cash payment of 15 million yuan and an asset transfer valued at 25 million yuan [9][22] - The related party transaction is deemed fair and reasonable, with no harm to the interests of the company or its shareholders [19][35] Group 3 - The financial data of the target companies, Yingde Jihong and Yingde Jiyue, indicate that they have net assets of approximately 5.7 million yuan and 4.1 million yuan respectively as of December 24, 2025 [14][17] - The independent directors unanimously agreed that the transaction is necessary for the company's operations and complies with relevant laws and regulations [36] - The transaction aims to resolve approximately 88 million yuan in debt through the acquisition of the target companies' properties [35]

格隆汇1月19日丨荣盛发展(002146.SZ)公布，公司子公司廊坊荣喆企业管理有限公司（简称"廊坊荣 喆"）和杭州荣耀盛灏置业有限公司（简称"杭州荣耀"）拟与中冀投资股份有限公司（简称"中冀投 资"）控股企业淄博中冀长益股权投资合伙企业（有限合伙）（简称"淄博中冀投资"）和子公司天津中 冀万泰投资管理有限公司（简称"天津中冀投资"）签订《股权转让协议》，由廊坊荣喆购买英德冀宏商 业管理有限公司（简称"英德冀宏"）100%股权和英德冀粤商业管理有限公司（简称"英德冀粤"）100% 股权，交易对价合计4,000万元，其中1,500万由廊坊荣喆指定的债权人向淄博中冀投资、天津中冀投资 直接支付，2,500万由廊坊荣喆指定杭州荣耀将其名下的资产过户至淄博中冀投资或淄博中冀投资指定 的主体名下作为支付对价。公司董事长耿建明先生在中冀投资担任董事长，中冀投资与公司存在关联关 系，根据《深圳证券交易所股票上市规则》等规定，本次交易构成关联交易。 ...

本报告依据中国资产评估准则编制 廊坊荣喆企业管理有限公司拟收购项目涉及的 英德冀宏商业管理有限公司净资产评估项目 资产评估报告 H B K L 真 Z 评报宇[2025] 第 34S053 号 I I I I I (共一册,第一册) 河北开 lip 二度 二月 73070120 I I L 廊坊荣喆企业管理有限公司拟收购项目涉及的英德挑宏商业管理有限公司冷货产评估项目获产评估报告 廊坊荣喆企业管理有限公司拟收购项目涉及的英德跳宏商业管理有限公司孙贷产评估项目资产评估报告 目 录 | 声明 | | --- | | 资产评估报告 摘要 | | 资产评估报告 正文 | | 一、委托方、产权持有人和其他资产评估报告使用人 | | 二、评估目的 6 | | 三、评估对象和评估范围 6 | | 四、价值类型及其定义 | | 五、评估基准日 | | 六、评估依据 | | 七、评估方法 . | | 八、评估程序实施过程和情况 | | 九、评估假设 . | | 十、评估结论 | | 十一、特别事项说明 | | 十二、资产评估报告使用限制说明 13 | | 十三、资产评估报告日 | | 十四、资产评估专业人员签名和资产评估机构印 ...

本报告依据中国资产评估准则编制 廊坊荣喆企业管理有限公司拟收购项目涉及的 英德冀粤商业管理有限公司净资产评估项目 资产评估报告 H B K L 宾 Z 评报宇[2025] 第 34S052 号 (共一册,第一册) 河北 s 六日 门 | | 门 门 | | || | | | | || 廊坊荣喆企业管理有限公司拟收购项目涉及的英德基粤商业管理有限公司净资产评估项目资产评估报告 | | 目 录 | 声明 . | | --- | | 资产评估报告 摘要 | | 资产评估报告 正文 | | 一、委托方、产权持有人和其他资产评估报告使用人 .. | | 二、评估目的 | | 三、评估对象和评估范围 | | 四、价值类型及其定义 7 | | 五、评估基准日 | | 六、评估依据 | | 七、评估方法 | | 八、评估程序实施过程和情况 . | | 九、评估假设. | | 十、评估结论 . | | 十一、特别事项说明 | | 十二、资产评估报告使用限制说明 | | 十三、资产评估报告日 . | | 十四、资产评估专业人员签名和资产评估机构印章 . | | 资产评估报告 附件 | 河北开利房地产评估有限公司 T -4 廊坊荣 ...

经审查，我们认为本次关联交易为公司生产经营活动所需，遵循 了公平、公开、公正的原则，不存在损害公司及公司股东的情形，符 合《公司法》、《深圳证券交易所股票上市规则》等法律、法规和规 范性文件及《公司章程》、《公司关联交易管理制度》的有关规定。 因此，我们一致同意该议案，并同意提交公司董事会审议。董事会 对该事项进行表决时，关联董事应按规定予以回避。 独立董事：程玉民、王力、金文辉 2026 年 1 月 4 日 关于关联交易的审查意见 荣盛房地产发展股份有限公司 2026 年第一次独立董事专门会议意见 根据《中华人民共和国证券法》、《上市公司独立董事管理办法》、 《深圳证券交易所上市公司自律监管指引第1号——主板上市公司规 范运作》及《公司章程》、《公司独立董事工作制度》等有关规定，荣 盛房地产发展股份有限公司（以下简称"公司"）于2026年1月4日以 通讯表决方式召开了2026年第一次独立董事专门会议，独立董事本着 对全体股东及投资者负责的态度，对第八届董事会第十八次会议相关 议案进行了会前审核并发表如下审查意见： ...

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。 一、关联交易概述 荣盛房地产发展股份有限公司（以下简称"公司"）子公司 廊坊荣喆企业管理有限公司（以下简称"廊坊荣喆"）和杭州荣 耀盛灏置业有限公司（以下简称"杭州荣耀"）拟与中冀投资股份 有限公司（以下简称"中冀投资"）控股企业淄博中冀长益股权 投资合伙企业（有限合伙）（以下简称"淄博中冀投资"）和子 公司天津中冀万泰投资管理有限公司（以下简称"天津中冀投 资"）签订《股权转让协议》，由廊坊荣喆购买英德冀宏商业管 理有限公司（以下简称"英德冀宏"）100%股权和英德冀粤商业 管理有限公司（以下简称"英德冀粤"）100%股权，交易对价合 计 4,000 万元，其中 1,500 万由廊坊荣喆指定的债权人向淄博中 冀投资、天津中冀投资直接支付，2,500 万由廊坊荣喆指定杭州 荣耀将其名下的资产过户至淄博中冀投资或淄博中冀投资指定的 主体名下作为支付对价。 公司董事长耿建明先生在中冀投资担任董事长，中冀投资与 公司存在关联关系，根据《深圳证券交易所股票上市规则》等规 定，本次交易构成关联交易。 根据《深圳证券交易所股 ...

证券代码：002146 证券简称：荣盛发展 公告编号：临 2026-003 号 荣盛房地产发展股份有限公司 第八届董事会第十八次会议决议公告 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。 一、董事会会议召开情况 荣盛房地产发展股份有限公司（以下简称"公司"）第八届董事 会第十八次会议通知于 2026 年 1 月 4 日以书面及电子邮件等方式送 达全体董事，2026 年 1 月 19 日以通讯表决方式召开。会议应出席董 事 9 人，实际出席董事 9 人，本次董事会会议的召开符合法律法规及 《公司章程》的有关规定。 1、2026年第一次独立董事专门会议意见； 2、公司第八届董事会第十八次会议决议。 二、董事会会议审议情况 本次会议审议并通过了以下议案： 《关于关联交易的议案》 本议案提交董事会审议前，已经独立董事专门会议审议通过，独 立董事全体同意将该议案提交公司董事会审议。本议案属于关联交易 事项，关联董事耿建明、邹家立、刘晓文回避对本议案的表决。 同意 6 票，反对 0 票，弃权 0 票。 根据《深交所股票上市规则》等相关规定，本次关联交易无需提 交公司股东 ...

Group 1 - The company, Rongsheng Development, announced that it expects a negative net profit attributable to shareholders for the year 2025, with the loss not exceeding the audited net assets from the previous period [2] - The estimated net assets at the end of 2025 are expected to remain positive [2]

Group 1 - Su Dawei Ge's wholly-owned subsidiary plans to invest in a fund focusing on semiconductor, new energy, AI, and aerospace sectors, contributing 20 million yuan for a 10.2302% stake [2] - Shimao Energy terminates plans for a change in control after failing to reach consensus on key terms, with stock resuming trading on January 19 [3] - Huatian Hotel's controlling shareholder is planning a merger and restructuring, potentially changing the actual controller to the Hunan Provincial State-owned Cultural Assets Supervision and Administration Commission [4] Group 2 - Jinpu Titanium's subsidiary Xuzhou Titanium will cease production due to intensified market competition, which is expected to significantly impact revenue in 2026 [5] - Dingxin Communications' deputy general manager is under investigation by the CSRC for suspected short-term trading of company stock, but it will not affect the company's operations [6] - Xinhang New Materials plans to acquire 51% of Hairete for 12.8826 million yuan to explore new growth points [7] Group 3 - Hualan Co.'s controlling shareholder raises the upper limit of its share buyback plan from 58.08 yuan to 86.66 yuan per share [8] - Wanhua Chemical's MDI Phase II facility has resumed normal production after maintenance [9] - Junsheng Electronics introduces a strategic investor, with a 1 billion yuan investment aimed at reducing overall debt [10] Group 4 - Jiangbolong announces five shareholders plan to transfer 3% of the company's shares through a pricing inquiry [11] - Haitai Technology expects a net profit increase of 226.86% to 323.97% in 2025, driven by high industry demand and increased orders [13] - Northern Rare Earth anticipates a net profit increase of 116.67% to 134.6% in 2025 due to successful market expansion [14] Group 5 - Lanke Technology forecasts a net profit increase of 52.29% to 66.46% in 2025, benefiting from the AI industry trend [15] - Keda expects a net profit increase of 52.21% to 67.43% in 2025, driven by growth in data center and new energy sectors [16] - Cambridge Technology predicts a net profit increase of 51% to 67% in 2025, supported by strong demand in core business areas [17] Group 6 - China Electric Research anticipates a net profit of 533 million yuan in 2025, a 14.04% increase year-on-year [18] - China Automotive Research expects a net profit of 1.06 billion yuan in 2025, a 17.85% increase year-on-year [19] - Zhongcheng Co. forecasts a net profit of 276 million to 414 million yuan in 2025, recovering from a previous loss [20] Group 7 - Junda Co. expects a net loss of 1.2 billion to 1.5 billion yuan in 2025, worsening from a previous loss of 591 million yuan [21] - Guangdian Network anticipates a net loss of 1.29 billion to 1.55 billion yuan in 2025, attributed to declining traditional business revenue [22] - Jiugang Hongxing predicts a net loss of approximately 1.879 billion yuan in 2025, an improvement from a previous loss of 2.617 billion yuan [23] Group 8 - Jinbo Co. expects a net loss of around 1.4 billion yuan in 2025, worsening from a previous loss of 815 million yuan [24] - Dongjiang Environmental anticipates a net loss of 1.05 billion to 1.35 billion yuan in 2025, due to ongoing industry adjustments [25] - Daqing Energy forecasts a net loss of 1 billion to 1.3 billion yuan in 2025, despite improvements in production costs [26] Group 9 - Dongzhu Ecology expects a net loss of 935 million to 1.135 billion yuan in 2025, impacted by macroeconomic factors [27] - Weiyuan Co. anticipates a net loss of 950 million to 1.05 billion yuan in 2025, turning from profit to loss [28] - Huanghe Xuanfeng predicts a net loss of 850 million yuan in 2025, an improvement from a previous loss of 983 million yuan [29] Group 10 - Fushun Special Steel expects a net loss of 770 million to 870 million yuan in 2025, turning from profit to loss [30] - China First Heavy Industries anticipates a net loss of 310 million to 460 million yuan in 2025, significantly reducing losses compared to the previous year [31] - Jishi Media forecasts a net loss of 364 million to 455 million yuan in 2025, with overall revenue expected to remain stable [33] Group 11 - Guangxi Energy expects a net loss of 170 million to 220 million yuan in 2025, turning from profit to loss [34] - Baike Bio anticipates a net loss of 220 million to 280 million yuan in 2025, turning from profit to loss due to declining vaccine sales [35] - Zhongtai Auto expects to remain in a loss position for 2025, with a projected positive net asset value by year-end [36] Group 12 - Nasda anticipates a loss for 2025 due to significant asset sales and industry policy adjustments [37] - Rongsheng Development expects to report a loss for 2025, with the amount not exceeding the previous year's audited net assets [38] Group 13 - China National Materials signs a contract worth 299 million Canadian dollars for engineering services in Canada [40] - Dayu Water-saving's subsidiary wins a project worth 133 million yuan for water source guarantee engineering [41] - Hailu Heavy Industry reports new orders totaling 1.941 billion yuan for 2025 [42]