Core Viewpoint - The establishment of a Hong Kong subsidiary by the company is not related to the acquisition of Evergrande Property [1][2] Group 1 - The company has clarified that the formation of the Hong Kong subsidiary is unrelated to any plans to acquire Evergrande Property [1][2]

Investment Rating - The investment rating for the real estate industry is "Positive" (maintained) [4] Core Insights - The report highlights three major trends expected in 2026: 1) The adjustment in the real estate market is likely nearing its end, with current price adjustments being relatively sufficient compared to global averages [4] 2) There are structural opportunities for "good housing" as the market enters a phase of differentiation, with a focus on high-quality residential developments [4] 3) The recovery of the Hong Kong property market is anticipated to continue, driven by multiple favorable factors [4] Market Performance - The Shanghai Composite Index decreased by 0.7%, while the Shenzhen Component Index increased by 0.8%, and the ChiNext Index rose by 2.5% [5] - The real estate sector (Shenwan) saw a decline of 0.5% [5] - Notable stock performances included: - Top gainers: Jingtou Development (+25.0%), Tibet City Investment (+13.4%), *ST Sunshine (+9.3%) [5] - Top losers: Caixin Development (-8.6%), *ST Rong Control (-8.2%), Tefa Service (-6.5%) [5] Data Tracking New Housing Transactions - For the week of March 7-13, 2026, 42 key cities recorded a total new housing transaction of 1.89 million square meters, a 28.6% increase from the previous week [14] - Year-to-date, new housing transactions have decreased by 32.2% compared to the same period last year [19] Second-Hand Housing Transactions - For the same week, 21 key cities recorded a total second-hand housing transaction of 2.20 million square meters, a 19.2% increase from the previous week [30] - Year-to-date, second-hand housing transactions have decreased by 8.7% compared to the same period last year [34] Industry News - The Ministry of Natural Resources and the National Forestry and Grassland Administration issued a notice requiring the establishment of a mechanism linking new land use with the revitalization of existing land [45] - In Shanghai, the personal housing property tax threshold was adjusted to 92,536 yuan per square meter, marking the first decrease since 2018 [45] - Various cities are implementing policies to optimize housing conditions for talent and adjust housing fund policies [45] Company Announcements - Zhangjiang Hi-Tech reported a revenue of 4.19 billion yuan for 2025, a year-on-year increase of 111.2% [49] - China Resources Land achieved a sales amount of 10.05 billion yuan in February 2026, a year-on-year decrease of 25.6% [49] - New City Holdings issued bonds totaling 355 million USD with an interest rate of 11.8%, maturing in 2029 [49]

证券代码：300917 证券简称：特发服务 公告编号：2026-010 深圳市特发服务股份有限公司 股东减持股份预披露公告 公司股东龙信建设集团有限公司保证向本公司提供的信息内容真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 特别提示： 1.持有深圳市特发服务股份有限公司（以下简称"特发服务""公司"或"本 公司"）股份 6,249,000 股的股东龙信建设集团有限公司（以下简称"龙信建设"） 计划以集中竞价方式和大宗交易方式减持股份数量合计不超过 5,070,000 股（占 公司总股本的 3%）。 2.本次减持计划拟通过集中竞价方式和大宗交易方式减持，自公告披露之日 起 15 个交易日后的 3 个月内实施，符合首次卖出预先披露减持计划的要求。 3.截至本公告披露日，龙信建设持有公司股份 6,249,000 股，占本公司总股 本比例 3.70%。 公司于近日收到股东龙信建设出具的《关于股份减持计划的告知函》，现将 相关情况公告如下： 一、股东的基本情况 | 股东名称 | 持股数量（股） | 占公司总股本比例（%） | | --- ...

Group 1 - The core point of the article is that TeFa Service (300917) announced the completion of a share reduction plan by its shareholder, Jiaxing Chuangze Investment Partnership (Limited Partnership) [1] - The shareholder reduced its holdings by 690,263 shares, which represents 0.41% of the total share capital [1] - After the reduction, the shareholder holds 4,362,880 shares, accounting for 2.58% of the total share capital [1]

Core Viewpoint - Shenzhen TeFa Service Co., Ltd. disclosed the results of a shareholder reduction announcement, indicating a planned reduction of shares by a significant shareholder [1] Group 1: Shareholder Reduction Details - The shareholder, Jiaxing Chuangze Investment Partnership (Limited Partnership), had previously announced a reduction plan on October 21, 2025, intending to reduce up to 1,690,000 shares (1% of total share capital) between November 12, 2025, and February 11, 2026 [1] - The actual reduction period occurred from June 13 to July 4, 2025, during which 690,263 shares were sold through centralized bidding, representing 0.41% of the company's total share capital [1] - The average selling price was 43.23 yuan per share, with a price range between 42.00 yuan and 46.15 yuan per share [1] Group 2: Shareholding Changes - Following the reduction, the shareholder's ownership percentage decreased from 2.99% to 2.58% [1]

Group 1 - The core point of the article is that the shareholder, Jiaxing Chuangze Investment Partnership (Limited Partnership), has reduced its stake in the company by selling 690,263 shares, which represents 0.41% of the total share capital [1] - After the reduction, the shareholder now holds 4,362,880 shares, accounting for 2.58% of the total share capital [1]

证券代码：300917 证券简称：特发服务 公告编号：2026-009 深圳市特发服务股份有限公司 关于公司股东减持计划时间届满暨减持结果的公告 注：上表若出现合计数与各分项数据之和尾数不符的，均为四舍五入原因所致，特此告知。 公司股东嘉兴创泽投资合伙企业（有限合伙）保证向本公司提供的信息内 容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 深圳市特发服务股份有限公司（以下简称"公司"）于 2025 年 10 月 21 日 披露了《股东减持股份预披露公告》（公告编号：2025-046），股东嘉兴创泽投 资合伙企业（有限合伙）计划以集中竞价方式减持公司股份不超过 1,690,000 股（占公司总股本的 1%），实施期限为自减持公告披露之日起 15 个交易日后的 三个月内（2025 年 11 月 12 日至 2026 年 2 月 11 日）。 公司于近日收到该股东出具的《关于股份减持计划时间届满的告知函》，现 将有关情况公告如下： 上述减持股份的来源:执行法院裁定（含因资本公积金转增股本而相应增加 的股份） 股东名称 减持方式 减持期间 ...

Summary of Key Points Core Viewpoint - The major shareholder of Economic Observation Network, Xinyu Yinkun Enterprise Management Co., Ltd., plans to reduce its stake by up to 5.07 million shares, representing 3% of the company's total share capital, between February 13, 2026, and May 12, 2026 [1]. Group 1: Share Reduction Details - The planned reduction includes a maximum of 1.69 million shares through centralized bidding, which accounts for 1% of the total share capital [2]. - Additionally, up to 3.38 million shares will be reduced through block trading, representing 2% of the total share capital [2].

Core Insights - The real estate service sector experienced a significant increase of 3.94% on February 4, with "I Love My Home" leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] Group 1: Stock Performance - "I Love My Home" (code: 000560) closed at 3.61, with a rise of 10.06% and a trading volume of 4.1629 million shares [1] - "Te Fa Service" (code: 300917) saw a closing price of 42.50, increasing by 6.52% with a trading volume of 166,900 shares [1] - "World Union" (code: 002285) closed at 2.87, up 5.90%, with a trading volume of 984,700 shares [1] - "Huangting International" (code: 000056) closed at 1.88, increasing by 5.03% with a trading volume of 944,200 shares [1] - "Zhongshan Service" (code: 002188) closed at 7.24, up 1.69%, with a trading volume of 250,600 shares [1] Group 2: Capital Flow - The real estate service sector saw a net inflow of 335 million yuan from institutional investors, while retail investors experienced a net outflow of 155 million yuan [2] - "I Love My Home" had a net inflow of 254 million yuan from institutional investors, but a net outflow of 168 million yuan from retail investors [3] - "Te Fa Service" recorded a net inflow of 46.64 million yuan from institutional investors, with a net outflow of 23.48 million yuan from retail investors [3]

Core Viewpoint - The A-share real estate sector has seen significant gains, particularly driven by the launch of a program in Shanghai to acquire second-hand housing for affordable rental housing projects, targeting new citizens, young people, and graduates [1] Group 1: Market Performance - Real estate stocks in the A-share market experienced substantial afternoon gains, with notable performers including I Love My Home and Huafa Co., which hit the daily limit [1] - Other companies such as Rong'an Real Estate, Jingtou Development, and Caixin Development also reached their daily limit previously, while China Merchants Shekou and City Investment Holdings rose over 7% [1] - The following companies showed significant increases: Jindi Group and Tefa Service over 6%, and Zhongzhou Holdings, Jingneng Real Estate, Binjiang Group, and Shilianhang over 5% [1] Group 2: Company Data - Rong'an Real Estate: 10.27% increase, market cap of 6.495 billion [2] - Jingtou Development: 10.09% increase, market cap of 4.445 billion [2] - I Love My Home: 10.06% increase, market cap of 8.503 billion [2] - Huafa Co.: 9.95% increase, market cap of 12.2 billion [2] - Caixin Development: 9.92% increase, market cap of 2.927 billion [2] - China Merchants Shekou: 7.50% increase, market cap of 98.2 billion [2] - City Investment Holdings: 7.13% increase, market cap of 1.39 billion [2] - Jindi Group: 6.69% increase, market cap of 15.1 billion [2] - Tefa Service: 6.52% increase, market cap of 7.183 billion [2] - New Town Holdings: 6.19% increase, market cap of 40.2 billion [2] - Zhongzhou Holdings: 5.88% increase, market cap of 5.87 billion [2] - Jingneng Real Estate: 5.79% increase, market cap of 2.898 billion [2] - Binjiang Group: 5.74% increase, market cap of 37.8 billion [2] - Shilianhang: 5.54% increase, market cap of 5.699 billion [2]