Market Performance - On February 25, 2026, the equity market saw most sectors rise, with the Shanghai Composite Index and Shenzhen Composite Index increasing by 0.72% and 1.21% respectively, while the CSI 300 and CSI 500 rose by 0.60% and 1.60% respectively [1] Individual Stock Performance - The top five gainers in the real estate sector were Huangting International, I Love My Home, Hualian Holdings, City Investment Holdings, and Zhujiang Shares, with increases of 10.05%, 10.03%, 9.96%, 9.96%, and 6.77% respectively [2] - The largest decliners included Hefei Urban Construction, Sanxiang Impression, Ningbo Fuda, Jinqiao B Share, and Haitai Development, with declines of -5.33%, -1.52%, -1.13%, -0.53%, and -0.45% respectively [2] Industry News - On February 25, 2026, five departments in Shanghai announced a reduction in housing purchase restrictions, effective February 26, 2026. Non-Shanghai residents can now purchase homes in the outer ring with a social security or tax payment history of just 1 year, and those with 3 years can buy an additional property [3] - The maximum housing provident fund loan for first-time homebuyers has been increased from 1.6 million yuan to 2.4 million yuan. Additionally, families with multiple children can receive a 20% increase in the maximum loan amount for purchasing a second home [3] - From January 1, 2026, adult children of local residents purchasing their only home will be exempt from personal housing property tax [4] Company Announcements - China Overseas Macro Real Estate Group announced that the buyback registration period for "23 Hongyang 02" bonds is from March 2 to March 9, 2026, with the repayment date set for April 3, 2026 [6] - Poly Real Estate Group announced the early delisting of "23 Baozhi 01" bonds, with a total buyback amount of 1 billion yuan. The bonds will be canceled due to this buyback [6]

格隆汇2月25日丨合肥城建(002208.SZ)在投资者互动平台表示，公司实际控制人合肥市国有资产监督管 理委员会未直接持有长鑫科技股份。 ...

资料显示，合肥城建发展股份有限公司位于安徽省合肥市蜀山区潜山路100号琥珀五环国际A座9-14 层，成立日期1999年9月7日，上市日期2008年1月28日，公司主营业务涉及房地产开发、经营、销售、 出租及物业管理,经营业态涵盖住宅地产以及工业地产。主营业务收入构成为：房地产销售及租赁 99.87%，其他(补充)0.13%。 从合肥城建十大流通股东角度 数据显示，南方基金旗下1只基金位居合肥城建十大流通股东。南方中证房地产ETF发起联接A （004642）三季度减持3.73万股，持有股数508.25万股，占流通股的比例为0.63%。根据测算，今日浮 亏损失约421.85万元。 南方中证房地产ETF发起联接A（004642）成立日期2017年8月24日，最新规模1.79亿。今年以来收益 2.62%，同类排名3830/5570；近一年收益6.19%，同类排名3769/4305；成立以来亏损41.69%。 2月25日，合肥城建跌5.02%，截至发稿，报15.69元/股，成交4.62亿元，换手率3.61%，总市值126.04亿 元。 南方中证房地产ETF发起联接A（004642）基金经理为罗文杰。 截至发稿，罗文杰累 ...

Investment Rating - The industry rating is optimistic, expecting overall returns to exceed the CSI 300 Index by more than 5% in the next six months [10]. Core Insights - The real estate sector is experiencing a positive market trend, with the Shanghai Composite Index and Shenzhen Composite Index rising by 0.87% and 1.23% respectively on February 24, 2026. The Shenwan Real Estate Index also increased by 0.28% [3]. - A recent land auction in Yiwu saw a small residential plot sold at a total price of 116 million yuan, with a premium rate of 22.14%. The plot covers an area of 4,120.58 square meters and has a planned construction area of 10,301.45 square meters [5]. - The top five performing stocks in the real estate sector included Phoenix Holdings, Jingneng Real Estate, Ningbo Fuda, Hefei Urban Construction, and Beijing Investment Development, with respective increases of 9.63%, 8.37%, 6.44%, 6.17%, and 5.96% [4]. Market Trends - The Guangzhou Housing and Urban-Rural Development Bureau, along with six other departments, is conducting a two-month campaign to regulate real estate media, aiming to reduce false advertising and malicious speculation [6][7]. - Shenzhen Overseas Chinese Town Holdings has initiated a non-public offering of corporate bonds, with a scale of 2.5 billion yuan, which has been accepted for review [8].

每经AI快讯，有投资者在投资者互动平台提问：公司母公司是否持有长鑫储存股份？ 合肥城建（002208.SZ）2月24日在投资者互动平台表示，公司母公司合肥兴泰金融控股（集团）有限公 司未直接持有长鑫科技股份。 （文章来源：每日经济新闻） ...

经济观察网 合肥城建（002208）（002208.SZ）在2026年2月12日出现股价异动，截至收盘报14.67元， 单日上涨3.60%，成交额4.42亿元，换手率3.81%，振幅达4.94%。该股年初至今累计上涨18.50%，近20 日涨幅14.16%，显著跑赢房地产板块及大盘指数。 资金面与技术面 2月12日主力资金净流入5942.82万元，主力买入占比20%，推动股价突破5日均线（14.38元）。KDJ指 标中J线升至75.902，显示短期动能增强；股价触及布林带上轨（15.82元）压力位，技术面呈突破态 势。此前1月16日至20日，公司股票因连续三日涨幅偏离值超20%触发交易异常波动，当时公告称无未 披露重大事项，但资金活跃度延续。 品牌市场活动 股价异动原因 异动主要受以下因素驱动：政策面与行业预期提振，华源证券指出，2026年房地产调整有望进入尾声， 高品质住宅或迎来发展浪潮。合肥市将购房补贴政策延长至2026年5月14日，并优化兑现方式，刺激本 地市场需求。公司作为安徽省国资控股房企（国资持股比例超60%），在获取核心地块和政策资源上具 备优势，市场预期其受益于区域政策托底。 业绩经营情况 2 ...

Core Viewpoint - Hefei Urban Construction's stock price has shown a significant increase this year, with a notable rise in trading volume and market capitalization, indicating positive investor sentiment and potential growth in the real estate sector [1][2]. Group 1: Stock Performance - As of February 11, Hefei Urban Construction's stock price increased by 2.14% to 14.33 CNY per share, with a trading volume of 1.42 billion CNY and a turnover rate of 1.25%, resulting in a total market capitalization of 11.511 billion CNY [1]. - Year-to-date, the stock price has risen by 15.75%, with a 4.45% increase over the last five trading days, a 13.64% increase over the last 20 days, and a 9.14% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Hefei Urban Construction reported a revenue of 6.357 billion CNY, reflecting a year-on-year growth of 17.00%. However, the net profit attributable to shareholders was -39.2541 million CNY, a decrease of 144.55% compared to the previous period [2]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Hefei Urban Construction increased to 48,300, marking an 11.01% rise from the previous period. The average number of circulating shares per shareholder decreased by 9.91% to 16,618 shares [2]. - The company has distributed a total of 603 million CNY in dividends since its A-share listing, with 108 million CNY distributed over the last three years [3].

南方中证房地产ETF发起联接A（004642）成立日期2017年8月24日，最新规模1.79亿。今年以来收益 3.57%，同类排名3616/5569；近一年收益7.82%，同类排名3900/4295；成立以来亏损41.15%。 2月11日，合肥城建涨6.06%，截至发稿，报14.88元/股，成交2.44亿元，换手率2.12%，总市值119.53亿 元。 资料显示，合肥城建发展股份有限公司位于安徽省合肥市蜀山区潜山路100号琥珀五环国际A座9-14 层，成立日期1999年9月7日，上市日期2008年1月28日，公司主营业务涉及房地产开发、经营、销售、 出租及物业管理,经营业态涵盖住宅地产以及工业地产。主营业务收入构成为：房地产销售及租赁 99.87%，其他(补充)0.13%。 从合肥城建十大流通股东角度 数据显示，南方基金旗下1只基金位居合肥城建十大流通股东。南方中证房地产ETF发起联接A （004642）三季度减持3.73万股，持有股数508.25万股，占流通股的比例为0.63%。根据测算，今日浮 盈赚取约432.01万元。 南方中证房地产ETF发起联接A（004642）基金经理为罗文杰。 截至发稿，罗文杰累 ...

南方中证房地产ETF发起联接A（004642）成立日期2017年8月24日，最新规模1.79亿。今年以来收益 4.52%，同类排名2206/5564；近一年收益13.53%，同类排名3665/4288；成立以来亏损40.61%。 2月6日，合肥城建涨5.4%，截至发稿，报14.84元/股，成交5.08亿元，换手率4.47%，总市值119.21亿 元。合肥城建股价已经连续3天上涨，区间累计涨幅6.59%。 资料显示，合肥城建发展股份有限公司位于安徽省合肥市蜀山区潜山路100号琥珀五环国际A座9-14 层，成立日期1999年9月7日，上市日期2008年1月28日，公司主营业务涉及房地产开发、经营、销售、 出租及物业管理,经营业态涵盖住宅地产以及工业地产。主营业务收入构成为：房地产销售及租赁 99.87%，其他(补充)0.13%。 从合肥城建十大流通股东角度 数据显示，南方基金旗下1只基金位居合肥城建十大流通股东。南方中证房地产ETF发起联接A （004642）三季度减持3.73万股，持有股数508.25万股，占流通股的比例为0.63%。根据测算，今日浮 盈赚取约386.27万元。连续3天上涨期间浮盈赚取442.1 ...

Group 1 - Iwojia (000560) is a leading real estate agency in China, established in 2000, focusing on property leasing, second-hand housing transactions, new house agency, and home services, benefiting from the rental and sales rights policy [1][33] - The company has over 3,000 offline stores and has served more than 10 million families, with its "Xiangyu" brand managing over 400,000 rental units [1][33] - Future prospects include market share expansion due to the deepening of rental and sales rights policies and enhanced service experience through digital tools [1][33] Group 2 - Huafa Group (600325) is a well-established real estate company under the Zhuhai State-owned Assets Supervision and Administration Commission, focusing on real estate development and property services, primarily in the Guangdong-Hong Kong-Macao Greater Bay Area [2][34] - The company actively participates in the rental and sales rights sector with its "Huafa Youjia" rental brand and is involved in urban renewal and industrial support projects [2][34] - Future outlook includes value reassessment of land reserves and profit growth from the expansion of rental business [2][34] Group 3 - Caixin Development (000838) is a listed platform under Chongqing Caixin Group, focusing on real estate development and urban renewal, primarily in the Chengdu-Chongqing economic circle [3][35] - The company integrates into the regional housing rental system through self-owned apartment projects and affordable housing cooperation [3][35] - Future prospects include long-term value release from land reserves and urban renewal projects, with rental business expansion opening new growth opportunities [3][35] Group 4 - China Merchants Shekou (001979) is a flagship real estate platform under China Merchants Group, focusing on real estate development and commercial operations, primarily in key urban clusters [4][36] - The company has over 20,000 rental units under its "Yijian" brand and is deeply involved in the construction of affordable rental housing [4][36] - Future outlook includes profit growth from the expansion of rental business and asset revitalization through REITs pilot projects [4][36] Group 5 - Chengdu Investment Holdings (600649) is a city construction and operation platform under the Shanghai State-owned Assets Supervision and Administration Commission, focusing on real estate development and water operations [5][37] - The company actively responds to policy directions through affordable housing projects and long-term rental operations [5][37] - Future prospects include expansion of rental business scale and long-term value release from urban renewal projects [5][37] Group 6 - Binjiang Group (002244) is a leading real estate company in Hangzhou, focusing on high-quality residential development and commercial operations [6][39] - The company actively participates in the housing rental market through self-owned commercial properties and long-term rental projects [6][39] - Future outlook includes value reassessment of land reserves and profit growth from rental business expansion [6][39] Group 7 - Sealand (002285) is a leading comprehensive real estate service provider in China, focusing on property agency, rental services, and asset operation [7][40] - The company has served over one million families and manages over 100,000 rental units under its "Hongpu Apartment" brand [7][40] - Future prospects include market share expansion and service experience enhancement through digital tools [7][40] Group 8 - Poly Developments (600048) is a flagship real estate platform under Poly Group, focusing on real estate development and property services [8][41] - The company has over 50,000 rental units under its "Poly Apartment" brand and is involved in affordable rental housing construction [8][41] - Future outlook includes profit growth from rental business expansion and financing advantages under state-owned enterprise background [8][41] Group 9 - Huangting International (000056) is a commercial real estate operator based in Shenzhen, focusing on commercial property operations and financial services [9][42] - The company actively participates in the housing rental market through self-owned commercial property transformation and long-term rental operations [9][42] - Future prospects include further opening of rental space through commercial property transformation and value release from urban renewal projects [9][42] Group 10 - Jinhe Commercial Management (603682) is a leading cultural and creative park operator, focusing on urban renewal and cultural park operations [10][43] - The company integrates into the regional housing rental system through park-affiliated apartment operations and affordable housing cooperation [10][43] - Future outlook includes growth in park-affiliated rental business and consolidation of industry position through ongoing urban renewal projects [10][43] Group 11 - Vanke A (000002) is a leading real estate company in China, focusing on real estate development and rental operations [11][44] - The company has over 200,000 rental units under its "Boyu" brand, making it one of the largest long-term rental apartment operators in China [11][44] - Future prospects include profit growth from rental business expansion and asset revitalization through REITs pilot projects [11][44] Group 12 - Tianjian Group (000090) is a city construction and operation platform under the Shenzhen State-owned Assets Supervision and Administration Commission, focusing on real estate development and urban construction [12][45] - The company actively responds to policy directions through affordable housing projects and long-term rental operations [12][45] - Future outlook includes expansion of rental business scale and long-term value release from urban renewal projects [12][45] Group 13 - ST Sunshine (000608) is an established glass manufacturing company transitioning into the new energy and real estate sectors [13][46] - The company attempts to enter the housing rental market through self-owned property transformation and affordable housing cooperation [13][46] - Future prospects include growth in rental business and recovery of overall performance through the expansion of photovoltaic glass business [13][46] Group 14 - 365 Network (300295) is a leading real estate internet service platform, focusing on property information and transaction services [14][47] - The company integrates rental housing information through its online platform, benefiting from the rental and sales rights policy [14][47] - Future outlook includes growth in online rental platform traffic and improved profitability through financial technology business expansion [14][47] Group 15 - Debi Group (300947) is a leading cultural and creative park operator, focusing on urban renewal and cultural park operations [15][48] - The company integrates into the regional housing rental system through park-affiliated apartment operations and affordable housing cooperation [15][48] - Future prospects include growth in park-affiliated rental business and consolidation of industry position through ongoing urban renewal projects [15][48] Group 16 - Changjiang Investment (600119) is a logistics and real estate platform under the Shanghai State-owned Assets Supervision and Administration Commission, focusing on logistics operations and real estate development [16][49] - The company attempts to enter the housing rental market through self-owned property transformation and affordable housing cooperation [16][49] - Future outlook includes growth in rental business and performance improvement through logistics real estate appreciation [16][49] Group 17 - New Huangpu (600638) is a real estate platform under the Shanghai State-owned Assets Supervision and Administration Commission, focusing on real estate development and financial services [17][50] - The company actively participates in the housing rental market through affordable housing projects and long-term rental operations [17][50] - Future prospects include expansion of rental business scale and long-term value release from urban renewal projects [17][50] Group 18 - Yueshin Health (002162) is a health real estate and elderly care service provider, focusing on health real estate development and elderly care services [18][51] - The company integrates into the regional housing rental system through health community-affiliated apartment operations and affordable housing cooperation [18][51] - Future outlook includes growth in health rental business and improved profitability through the expansion of elderly care services [18][51]