房地产/房地产开发 投资评级：买入（维持） | 日期 | 2025/10/30 | | --- | --- | | 当前股价(元) | 11.10 | | 一年最高最低(元) | 12.80/8.06 | | 总市值(亿元) | 345.37 | | 流通市值(亿元) | 298.13 | | 总股本(亿股) | 31.11 | | 流通股本(亿股) | 26.86 | | 近 3 个月换手率(%) | 79.07 | 股价走势图 数据来源：聚源 -24% -12% 0% 12% 24% 36% 2024-10 2025-02 2025-06 滨江集团 沪深300 相关研究报告 《上半年收入利润高增，融资成本降 至央企水平—公司信息更新报告》 -2025.8.27 滨江集团（002244.SZ） 三季度业绩稳健增长，拿地聚焦杭州大本营 2025 年 10 月 31 日 《半年度业绩高增，投资强度维持高 位—公司信息更新报告》-2025.7.15 《归母净利润实现增长，销售冲入行 业 前 十 名 — 公 司 信 息 更 新 报 告 》 -2025.4.28 | 齐东（分析师） | 胡耀文（分析师） | 杜致远（ ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company reported a significant increase in performance, with a 60.6% year-on-year growth in revenue for Q3 2025, reaching 65.5 billion yuan, and a 46.6% increase in net profit attributable to shareholders, amounting to 2.39 billion yuan [6] - The company has a strong land acquisition strategy, with a total land acquisition amount of 36.6 billion yuan in Q3 2025, representing a 34.2% year-on-year increase, and a land acquisition intensity of 47% [6] - The company maintains a healthy financial position with a net debt ratio of 6.6% and a cash-to-short-term debt ratio of 4.3 times, indicating strong liquidity [6] Financial Data and Profit Forecast - Total revenue for 2024 is projected at 69.15 billion yuan, with an expected increase to 76.04 billion yuan in 2025, reflecting a 10% year-on-year growth [2] - The net profit attributable to shareholders is forecasted to be 2.94 billion yuan in 2025, with a growth rate of 15.4% [2] - The earnings per share (EPS) is expected to rise to 0.94 yuan in 2025, up from 0.77 yuan in 2024 [2] Market Data - As of October 30, 2025, the closing price of the company's stock is 11.10 yuan, with a market capitalization of 29.81 billion yuan [3] - The company has a price-to-earnings (P/E) ratio of 14 for 2024, which is expected to decrease to 12 in 2025 and further to 11 in 2026 [2][3] Sales Performance - The company achieved sales of 78.6 billion yuan in Q3 2025, with a slight year-on-year decrease of 1.9%, while maintaining a high average selling price of 39,000 yuan per square meter [6] - The company aims for a sales target of approximately 100 billion yuan in 2025, despite a projected decrease of 10% year-on-year [6] Land Acquisition Strategy - The company focuses on land acquisition in the Hangzhou area, with 97% of the total land acquisition in Q3 2025 occurring in this region [6] - The average land acquisition price was 30,000 yuan per square meter, reflecting a 15.8% year-on-year increase [6]

Core Insights - The company reported a total operating revenue of 65.514 billion yuan and a net profit attributable to shareholders of 2.395 billion yuan for Q3 2025 [1] - The net cash inflow from operating activities was -7.953 billion yuan, a decrease of 6.546 billion yuan compared to the same period last year, ranking 89th among disclosed peers [1] Financial Metrics - The latest debt-to-asset ratio is 76.43%, ranking 62nd among disclosed peers [3] - The latest gross profit margin is 12.44%, ranking 63rd among disclosed peers [3] - The latest return on equity (ROE) is 8.06% [3] - The diluted earnings per share (EPS) is 0.77 yuan [3] - The latest total asset turnover ratio is 0.27 times [3] - The latest inventory turnover ratio is 0.41 times [3] Shareholder Information - The number of shareholders is 27,500, with the top ten shareholders holding 2.201 billion shares, accounting for 70.73% of the total share capital [3] - The largest shareholder is Hangzhou Binjiang Investment Holding Co., Ltd., holding 4.54 billion shares [3] - Other notable shareholders include Xian Jin Xing with 1.19 billion shares and Xia Jian Sheng with 322 million shares [3]

Group 1 - The core point of the article is that Binhai Group (SZ 002244) held its third meeting of the seventh board of directors on October 30, 2025, via telecommunication, where it reviewed the proposal for reappointing the auditing firm for the fiscal year 2025 [1] - For the first half of 2025, Binhai Group's revenue composition was as follows: real estate accounted for 99.71%, hotel industry 0.27%, and other businesses 0.02% [1]

Core Viewpoint - Binjiang Group (002244.SZ) reported a significant increase in revenue and net profit for the first three quarters of 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue for the first three quarters reached 65.514 billion yuan, representing a year-on-year growth of 60.64% [1] - The net profit attributable to shareholders of the listed company was 2.395 billion yuan, showing a year-on-year increase of 46.60% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 2.392 billion yuan, with a year-on-year growth of 60.38% [1] - Basic earnings per share stood at 0.77 yuan [1]

Core Insights - Binhai Group reported a significant increase in revenue and net profit for Q3 and the first three quarters of the year, indicating strong operational performance [2][3] Financial Performance - In Q3, Binhai Group's revenue was approximately 20.065 billion yuan, a year-on-year increase of 21% [2] - The net profit attributable to shareholders was about 541 million yuan, up 15.97% year-on-year [2] - For the first three quarters, the total revenue reached approximately 65.513 billion yuan, reflecting a 60.64% increase year-on-year [2] - The net profit attributable to shareholders for the first three quarters was around 2.394 billion yuan, a 46.6% increase year-on-year [2] - The net profit excluding non-recurring gains was approximately 2.391 billion yuan, up 60.38% year-on-year [2] Strategic Development - Binhai Group plans to continue implementing its "1+5" development strategy by 2025, focusing on enhancing its core real estate business while expanding into five other sectors: services, leasing, hotels, elderly care, and industrial investment [2] - The sales target for 2025 is set at approximately 100 billion yuan, aiming for a national market share of over 1% [3] - The company emphasizes high-quality land reserves by prioritizing quality cities, locations, projects, products, and partners to ensure high returns on investments [3] Market Performance - As of October 30, Binhai Group's stock price was 11.1 yuan per share, reflecting a decline of 1.6% [3]

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。 特别风险提示 证券代码：002244 证券简称：滨江集团 公告编号：2025－048 杭州滨江房产集团股份有限公司关于 为参股房地产项目公司提供担保额度的公告 截止本公告日，公司及控股子公司对外担保总额为 742,155.04 万元，占公司最近一期经审计净资产的 26.96%。 一、担保事项概述 为满足杭州滨江房产集团股份有限公司（以下简称"公司"）参 股房地产项目公司项目开发建设的正常资金需求，切实提高项目融资 效率，保障合作项目的良好运作，根据《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》的相关规定，结合公 司房地产项目开发进度情况，公司对未来拟为参股房地产项目公司提 供担保的具体对象以及担保额度进行了合理预计，公司拟按出资比例 为部分参股房地产项目公司提供总额度不超过4亿元的新增担保，具 体情况如下： 1、本次被担保对象及担保额度预计情况如下表： 1 | 担保 | 被担保方 | 公司持 | 合作项目 | 被担保方最 近一期资产 | 截至目前担保 | 本次新增担保 | 担保额度占上市公 ...

证券代码：002244 证券简称：滨江集团 公告编号：2025—047 杭州滨江房产集团股份有限公司 关于拟续聘会计师事务所的公告 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： 本次续聘会计师事务所符合财政部、国务院国资委、证监会印发 的《国有企业、上市公司选聘会计师事务所管理办法》（财会〔2023〕 4 号）的规定。 杭州滨江房产集团股份有限公司（以下简称"公司"）于 2025 年 10 月 30 日召开第七届董事会第三次会议审议通过了《关于续聘 2025 年度审计机构的议案》，同意续聘天健会计师事务所（特殊普 通合伙）（以下简称"天健会计师事务所"）为公司 2025 年度的审 计机构，本事项尚需提交公司股东会审议通过，现将具体事宜公告如 下： 一、拟续聘会计师事务所的基本信息 （一）机构信息 1. 基本信息 | 事务所名称 | 天健会计师事务所（特殊普通合伙） | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 成立日期 | 201 ...

北京商报讯（记者 王寅浩 李晗）10月30日，滨江集团发布2025年第三季度报告显示，1—9月滨江集团 实现营业收入655.14亿元，同比增长60.64%；归母净利润23.95亿元，同比增长46.6%。 ...

南财智讯10月30日电，滨江集团发布三季度报告，第三季度公司实现营业收入200.65亿元，同比增长 21.00%；归属于上市公司股东的净利润5.42亿元，同比增长15.97%。前三季度公司实现营业收入655.14 亿元，同比增长60.64%；前三季度归属于上市公司股东的净利润23.95亿元，同比增长46.60%。 ...