证券代码：002244 证券简称：滨江集团 公告编号：2024－069 杭州滨江房产集团股份有限公司 关于拟注册发行中期票据和短期融资券的公告 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。 杭州滨江房产集团股份有限公司(以下简称"公司")为进一步拓 宽公司融资渠道、优化融资结构、降低公司融资成本，满足经营发展 的资金需求，拟向中国银行间市场交易商协会申请注册发行总额不超 过(含)人民币 40 亿元的中期票据和总额不超过（含）40 亿元的短期 融资券（含超短期融资券，下同），具体发行规模将以公司在中国银 行间市场交易商协会获准注册的金额为准，在注册有效期内可一次或 多次发行。本次注册发行短期融资券、中期票据事项尚需提交公司股 东大会批准，并经中国银行间市场交易商协会接受注册后方可实施。 现将主要情况公告如下： 一、发行方案主要内容 1、 注册总额：本次注册发行中期票据的规模不超过人民币 40 亿元（含人民币 40 亿元），短期融资券（含超短期融资券，下同） 规模不超过人民币 40 亿元（含人民币 40 亿元），将根据公司实际资 金需求分期发行； 2、 发行期限 ...

证券代码：002244 证券简称：滨江集团 公告编号：2024—067 杭州滨江房产集团股份有限公司 第六届董事会第四十一次会议决议公告 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。 杭州滨江房产集团股份有限公司(以下简称"公司")第六届董事会 第四十一次会议通知于 2024 年11 月30 日以专人送达、传真形式发出， 会议于 2024 年 12 月 5 日以通讯方式召开，应出席董事 5 人，实际出席 董事 5 人。本次会议召开程序符合《公司法》和《公司章程》的规定。 会议以通讯表决的方式，审议并表决了以下议案： 关联董事戚金兴先生、莫建华先生回避表决。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 1 详情请见公司 2024-068 号公告《关于预计 2025 年度、2026 年度 日常关联交易的公告》。 二、审议通过《关于拟注册发行中期票据和短期融资券（含超短期 融资券）的议案》 为进一步拓宽公司融资渠道、优化融资结构、降低公司融资成本， 满足经营发展的资金需求，公司拟向中国银行间市场交易商协会申请注 册发行总额不超过(含)人民币 40 亿元的 ...

证券代码：002244 证券简称：滨江集团 公告编号：2024—071 杭州滨江房产集团股份有限公司 因个人需求，张洪力先生、沈孝荣先生及配偶潘林香女士分别以 总价 212.7792 万元和 187.7447 万元购买公司全资子公司杭州滨江 集团天目山开发建设有限公司（以下简称"天目山公司"）开发的天 目山晓城商品房一套。根据《深圳证券交易所股票上市规则》的相关 规定，以上购房人为公司的关联自然人，本次购买商品房的交易构成 关联交易。 公司独立董事已就本次关联交易事项召开了专门会议并发表了 同意的独立意见。2024 年 12 月 5 日，公司召开第六届董事会第四十 一次会议，会议以 4 票同意、0 票反对，0 票弃权审议通过了《关于 关联交易的议案》，关联董事沈伟东先生回避表决。 根据《深圳证券交易所股票上市规则》等有关规定，本次关联交 易在董事会审批权限内，无需提交公司股东大会审批。 本次关联交易不构成《上市公司重大资产重组管理办法》规定的 重大资产重组或重组上市，无需经过有关部门批准。 二、关联方基本情况 张洪力先生系公司总裁，沈孝荣先生、潘林香女士系公司董事、 副总裁、财务总监兼董事会秘书沈伟东先生之父 ...

证券代码：002244 证券简称：滨江集团 公告编号：2024-066 公司在上述项目中所占权益比例可能发生变化，上述比例仅供投 资者作阶段性参考。 特此公告。 杭州滨江房产集团股份有限公司 董事会 二○二四年十一月二十九日 杭州滨江房产集团股份有限公司 关于竞得土地使用权的公告 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。 2024 年 11 月 28 日，公司控股子公司南京滨江房产开发有限公 司以 13.51 亿元竞得南京市江北新区凤滁路以东、天浦路以北 (NJJBd030-11-13)地块，地块用地性质为居住用地，规划面积 49066.61 ㎡，容积率≤1.6，目前公司在上述地块项目中所占权益比 例为 40.78%。 ...

证券代码：002244 证券简称：滨江集团 公告编号：2024-065 公司在上述项目中所占权益比例可能发生变化，上述比例仅供投 资者作阶段性参考。 特此公告。 杭州滨江房产集团股份有限公司 董事会 杭州滨江房产集团股份有限公司 关于竞得土地使用权的公告 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。 2024 年 11 月 20 日，公司竞得下述地块的国有建设用地使用权： | 序 | 地块编号 | 规划用途 | 建设用地面积 | 容积 | 土地总价 | 土地权益 | | --- | --- | --- | --- | --- | --- | --- | | 号 | | | (㎡) | 率 | (万元) | | | 1 | 杭政储出[2024]124 | 住宅 | 30394 | 2.7 | 395430 | 100% | | | 号 | | | | | | 二○二四年十一月二十一日 ...

杭州滨江房产集团股份有限公司 关于竞得土地使用权的公告 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。 2024 年 11 月 15 日，公司竞得下述地块的国有建设用地使用权： 证券代码：002244 证券简称：滨江集团 公告编号：2024-064 公司在上述项目中所占权益比例可能发生变化，上述比例仅供投 资者作阶段性参考。 特此公告。 杭州滨江房产集团股份有限公司 董事会 二○二四年十一月十六日 | 序 | 地块编号 | 规划用途 | 建设用地面积 | 容积 | 土地总价 | 土地权益 | | --- | --- | --- | --- | --- | --- | --- | | 号 | | | (㎡) | 率 | (万元) | | | 1 | 杭政储出[2024]121 | 住宅 | 15494 | 2.2 | 137981 | 100% | | | 号 | | | | | | ...

Investment Rating - The report maintains a "Buy" rating for Binjiang Group (002244 SZ) [1][5] Core Views - Binjiang Group's October sales performance was strong, with a significant improvement in sales margins [1] - The company's new land reserves in 2024 are of high quality, concentrated in core urban areas of Hangzhou [1] - Despite a slight pressure on full-year performance, the company's financial position remains stable [1] Financial Performance - Revenue for the first three quarters of 2024 was RMB 40 78 billion, down 12 1% YoY [1] - Gross profit margin for the first three quarters was 10 4%, a decrease of 4 6 percentage points YoY [1] - Net profit attributable to shareholders was RMB 1 63 billion, down 34 0% YoY [1] Sales Performance - Cumulative sales from January to October 2024 reached RMB 92 2 billion, down 30 3% YoY [1] - October sales alone were RMB 12 billion, up 18 9% YoY and 54 6% MoM [1] - In Hangzhou, the company achieved sales of RMB 60 37 billion, maintaining its leading position in the local market [1] Land Acquisition - In 2024, the company acquired 12 land parcels in Hangzhou with a total construction area of 963,000 square meters [1] - The total investment in land acquisition was RMB 26 9 billion, with an average floor price of RMB 27,900 per square meter [1] - 76 6% of the investment was concentrated in core urban areas of Hangzhou [1] Financial Health - As of the end of Q3 2024, the company's short-term debt decreased by RMB 1 5 billion compared to the end of H1 2024 [1] - Cash on hand was RMB 29 1 billion, an increase of RMB 2 7 billion from the end of H1 2024 [1] - The debt-to-asset ratio after deduction was 59 1%, indicating a stable financial position [1] Valuation and Forecast - The report revised the EPS forecast for 2024-2026 to RMB 0 74, RMB 0 95, and RMB 0 97, respectively [1] - The current stock price corresponds to a PE ratio of 13 8x, 10 8x, and 10 5x for 2024-2026 [1] Market Position - Binjiang Group ranked first in Hangzhou's real estate sales rankings for both flow and equity sales in 2024 [2] - The company's sales in Hangzhou accounted for 65 5% of its total sales, with a flow sales of RMB 38 billion and equity sales of RMB 30 6 billion [1]

Investment Rating - The report maintains a "Buy" rating for the company [4][5]. Core Views - The company has shown active land acquisition focused on Hangzhou, maintaining healthy financial indicators despite a decline in revenue and net profit [1][4]. - The decrease in performance is attributed to reduced delivery volume and declining gross margins, with expectations for improvement in the fourth quarter [2][3]. - The company has successfully reduced its interest-bearing debt, indicating a healthy balance sheet and strong short-term repayment capability [3][4]. Financial Performance Summary - For the first three quarters of 2024, the company reported revenue of 40.78 billion yuan, a year-on-year decrease of 12.1%, and a net profit attributable to shareholders of 1.63 billion yuan, down 33.9% [1][2]. - The gross margin for the first three quarters was 10.4%, a decline of 4.6 percentage points year-on-year, while the third quarter saw a slight improvement in gross margin to 11.7% [2][3]. - The company’s sales for the first three quarters amounted to 80.13 billion yuan, a decrease of 34.4% year-on-year, but the decline was less than that of the top 100 real estate companies [3][4]. Land Acquisition and Debt Management - The company acquired 11 plots of land in Hangzhou during the first three quarters, with a total investment of 25.1 billion yuan, representing a 54% decrease year-on-year [3][4]. - As of the end of the third quarter of 2024, total assets were 277.91 billion yuan, with total liabilities of 219.49 billion yuan, reflecting a 5.2% decrease from the previous year [3][4]. Future Projections - The company is projected to achieve revenues of 74 billion yuan in 2024, with net profits expected to reach 2.8 billion yuan [4][8]. - Earnings per share (EPS) are forecasted to be 0.90 yuan for 2024, with a price-to-earnings (P/E) ratio of 11.5 times based on the current stock price [4][8].

Investment Rating - The report maintains a "Recommended" rating for the company [2][5] Core Views - The company reported a revenue of 40.784 billion yuan for Q3 2024, a year-on-year decrease of 12.09%, and a net profit attributable to shareholders of 1.633 billion yuan, down 33.94% year-on-year [2] - The decline in net profit was greater than the revenue drop, primarily due to a decrease in gross margin from delivered projects, with a gross margin of 10.43% for the first three quarters of 2024, down 4.56 percentage points from the same period last year [2] - The company has maintained stable sales rankings, achieving a sales area of 1.7 million square meters in the first three quarters of 2024, a year-on-year decrease of 32.97%, and a sales amount of 80.13 billion yuan, down 34.39% year-on-year [2] - The company has continued to deepen its investment in Hangzhou, acquiring three new land parcels totaling 5.044 billion yuan, with a calculated land acquisition intensity of 23.03% based on a sales scale of 21.9 billion yuan for Q3 [2] - The company has effectively controlled its leverage, with a debt-to-asset ratio of 59.08% and a net debt ratio of 11.54% as of the end of Q3 2024 [2] Financial Summary - The company forecasts net profits attributable to shareholders of 2.777 billion yuan, 3.116 billion yuan, and 3.293 billion yuan for 2024, 2025, and 2026 respectively, with corresponding EPS of 0.89 yuan, 1.00 yuan, and 1.06 yuan [5][8] - The projected PE ratios for the same years are 11.10X, 9.90X, and 9.36X [5][8] - The company’s revenue for 2024 is estimated at 73.915 billion yuan, reflecting a growth rate of 4.93% [5][8]

Investment Rating - The report maintains a "Buy" rating for Binjiang Group, emphasizing its commitment to quality and proactive land acquisition while optimizing finances [6]. Core Insights - In Q3 2024, Binjiang Group's revenue was 40.8 billion yuan, down 12.1% year-on-year, with a net profit of 1.63 billion yuan, a decrease of 33.9% [6][7]. - The company ranked 8th in sales during Q3 2024, with sales amounting to 80.1 billion yuan, a 34% decline compared to the previous year [6]. - The land acquisition in Q3 2024 totaled 27.3 billion yuan, entirely in Hangzhou, with a land acquisition to sales ratio of 34% [6]. - Financially, the company is in a safe position with a net debt ratio of 11.4% and a cash to short-term debt ratio of 4.6 times [6]. Summary by Sections Market Data - Closing price: 9.68 yuan - Market capitalization: 25,965 million yuan - Price-to-book ratio: 1.1 - Dividend yield: 0.93% [3][4]. Financial Performance - Q3 2024 revenue: 40.8 billion yuan, down 12.1% year-on-year - Q3 2024 net profit: 1.63 billion yuan, down 33.9% year-on-year - Gross margin: 10.4%, down 4.6 percentage points year-on-year [6][7]. Sales and Land Acquisition - Q3 2024 sales: 80.1 billion yuan, down 34% year-on-year - Q3 2024 land acquisition: 27.3 billion yuan, with a focus on Hangzhou [6]. Financial Health - As of Q3 2024, the company maintained a net debt ratio of 11.4% and a cash to short-term debt ratio of 4.6 times, indicating improved financial safety [6].