Industry Overview - The Minhang District's Xinzhuang Business District has transformed from a manufacturing hub to a modern service industry cluster since its development began in 2007 [1] - The district faces challenges from rapid development of surrounding business areas and lagging building construction, leading some expanding companies to relocate [1] - Recent policies like "Xin Ten Articles 2.0" and new integrated circuit industry measures have improved industrial concentration and attracted returning companies [1] District Characteristics - Located in Minhang District with better transportation access in northern areas compared to southern regions [2] - Commercial facilities are concentrated around Qixin Road Station on Line 12, including Fortune 108 Plaza, Weijing Plaza, and Qixin Red Dot City [2] - Main industries include wholesale and retail, scientific research and technical services, leasing and business services, and information transmission [3] Development Strategy - Implements "1+2+N" industrial development strategy focusing on headquarters economy and integrated circuit/software information services [5] - Offers subsidies up to 3 million yuan (10% of R&D investment) for integrated circuit companies registering and operating in Xinzhuang for one year [5] - Attracted major companies like Aiwei Electronics, China Railway, and Zhongjianxin, creating strong industrial synergy [5] Market Analysis - High-end office rents decreased from 3.46 yuan/m²/day in 2022 to 3.36 yuan/m²/day in 2023, a 3% drop [6] - Rents continued declining to 3.26 yuan/m²/day in Q1 2024 due to market saturation and intense competition [6] - Overall high-end market vacancy rate exceeded 20% in 2024, exacerbated by new supply like the 90,000 m² Zhengfeng Plaza [7] SWOT Analysis - Strengths: High-quality transportation hub development and improved public transport network [8] - Weaknesses: Inadequate transportation and commercial facilities in southern areas, severe market competition from homogeneous new projects [8] - Opportunities: "Xin Ten Articles 2.0" policy driving industrial upgrading and attracting leading companies [8] - Challenges: Competition from nearby districts like Xuhui Caohejing and oversupply situation with extended absorption periods [8] Case Study: Xizi International Center - Located at 898 Xiuwen Road with 105,000 m² total area and 5 buildings [9] - Maintains stable rents at 3.5-4 yuan/m²/day with flexible negotiation terms [10] - Tenant mix: 30% wholesale/retail, 25% scientific research/technical services, 24% leasing/business services [11] - Achieved over 85% occupancy rate, attracting headquarters and integrated circuit companies [11] Market Outlook - Xinzhuang established as Shanghai's sub-center in 2017 city master plan [12] - "Xin Ten Articles" policy in 2020 and its 2.0 version in 2023 boosted integrated circuit industry development [12] - Current market faces weak demand and oversupply, with short-term downward trend expected [12]

2024 年 3 月上海住宅买卖市场 城市测量师行定期监测上海新建商品住宅和二手住宅市场，并发布《上海住宅买卖市场报告》。该报告旨在 帮助大家了解上海住宅交易市场行情，欢迎持续关注！ 01 01 新房市场供应回暖，成交量价同步回升 3 月，上海新房市场供 应量再度突破100万平方米， 成交量攀升至 76 万平方米， 供求两端基本回归正常水平。 从数据上看，本月开发 商积极推盘，尤其在黄浦、徐 ...

2024 年 3 月上海商办买卖市场 城市测量师行定期监测上海新增商办物业和二手商办物业，并发布《上海商办买卖市场报告》。该报告旨 在帮助大家了解上海商办交易行情，欢迎持续关注！ 01 商办物业新增供应面积提升，成交总量仍处低位 3 月，上海商办物业新 增供应总面积在经历两个月 的低迷后出现大幅反弹。 分类来看，商业物业共 ...

2024 年 1 季度上海办公租赁市场分析报告 2024年第一季度上海办公租赁需求疲弱，市场租赁情绪较低。小面积房源带看量上升，整体问询量稍 有增加。但由于当前经济市场处于待复苏阶段，较多租户选择观望，采取谨慎的租赁决策，实质性成交案 例较少。 01 第一季度办公物业平均租金延续下跌趋势，较上一季度下跌2.4%，降至 4.4元/㎡·日以内。 01 各环线租金持续普跌，外郊环跌幅扩大 上海办公租赁市场本季度各环线租金持续呈现普跌现象。 内环内区域平均租金 5.95 元/㎡·日，下跌 0.8%，为本季度各环线最低跌幅。环线内的八佰伴区块和 竹园区块的小业主房源在第一季度租赁情况良好，两者地理位置相近，办公楼栋同质程度较高，目前区块 ...

Investment Rating - The report indicates a stable investment rating for the real estate sector in Shanghai, particularly focusing on residential land supply and demand dynamics [1][5]. Core Insights - The first batch of concentrated land supply in Shanghai for 2024 concluded with a total transaction amount of 25.3 billion yuan, accounting for 7.7% of the annual planned supply of residential land [1][7]. - The average premium rate for the land sold in this batch was 7%, which is consistent with the previous year's first batch [10][11]. - There is a notable decrease in the supply of various land types compared to 2023, with residential land supply decreasing by 12.9% year-on-year [6][7]. Summary by Sections Land Supply Overview - The total planned supply of residential land in Shanghai for 2024 is approximately 856 hectares, with 440 hectares designated for commodity housing, reflecting a 12.9% decrease from 2023 [6][7]. - The supply of commodity housing land has shown a continuous decline over the past two years [5][6]. First Batch of Land Supply Characteristics - The first batch consisted of 11 plots, with a total area of 338,600 square meters and an average premium rate of 7% [1][10]. - The supply of smaller unit types has been adjusted, with the proportion of small units reduced to 50%-70% [8][9]. Regional Distribution and Market Dynamics - The land plots are distributed across various districts, with significant competition for prime locations, particularly in urban core areas [11][12]. - The report highlights a disparity in land plot popularity, with some areas attracting multiple bidders while others see limited interest [10][11].

Investment Rating - The report indicates a downward trend in the normalized land supply market, with total supply falling below 250,000 square meters, leading to a total transaction amount of 500 million yuan in March [2]. Core Insights - The first round of land sales in March 2024 in Shanghai saw all residential plots sold at a premium, with a total transaction value exceeding 13.4 billion yuan [3]. - The average transaction price for industrial land continued to decline, reaching 1,948 yuan per square meter in March [7]. - The supply of commercial land was absent for the second time in a year, while industrial land transactions dropped to a low level, with a total transaction price of approximately 500 million yuan [4]. Summary by Sections Overall Overview - The first round of residential land sales in March 2024 was completed, with the normalized supply market experiencing a further decline [1]. Transaction Volume and Price Trends - In March, the total transaction price in the Shanghai land auction market rose to 10 billion yuan, with a cumulative total of 23.267 billion yuan for the year [2]. Concentrated Supply - All plots in the first batch of residential land were sold at a premium, with three plots achieving a maximum premium of 10% [3]. Normalized Supply - The supply of commercial land was zero in March, marking the second occurrence in a year, while industrial land saw a total of eight transactions with a total price of about 500 million yuan [4]. Case Analysis - The MHP0-1403 unit 71-03 plot in Minhang District was acquired for 52.57 million yuan, with a planned construction area of approximately 30,000 square meters [9].

Summary of Key Points from Conference Call Records Industry Overview - **Low-altitude Economy**: The low-altitude economy is highlighted as a comprehensive economic form driven by eVTOL (electric Vertical Take-Off and Landing) aircraft, with drones and general aviation as core industries. The government is actively promoting the development of this sector, leading to rapid growth in low-altitude aircraft manufacturing, infrastructure, and support services [2][3][4]. Core Insights and Arguments - **Event Announcement**: Chongqing will host the first Low-altitude Flight Consumption Week from April 30 to May 5, 2024, featuring a total of 10 million yuan in consumption vouchers for low-altitude flight experiences. Various activities will include paragliding, skydiving, and low-altitude education services [2][3]. - **Urban Air Traffic**: The opening of the first urban air traffic route will significantly reduce travel time between Chongqing International Biological City and Chongqing Longxing General Airport from one hour to ten minutes [2][3]. - **Investment Opportunities**: Analysts suggest focusing on investment opportunities within the low-altitude economy supply chain, particularly in low-altitude intelligent manufacturing projects and flight organizations [2][3]. Company-Specific Insights - **Zongshen Power**: The company is responsible for organizing the low-altitude event and its subsidiary, Chongqing Zongshen Aviation Engine Manufacturing Co., Ltd., specializes in small and medium-sized aircraft engines, providing power solutions for general aviation and drones [2][3]. - **CITIC Offshore Helicopter**: The company is focusing on operational services related to low-altitude economy projects in Zhoushan and Shenzhen, developing systems for eVTOL operational scenarios [2][3]. - **BOE Technology Group**: The company maintains its position as the global leader in LCD product shipments and area, with a significant market share in flexible OLED mobile panels [3][4]. Additional Important Content - **Panel Industry Trends**: The panel industry is entering a traditional sales peak season, with demand increasing due to rising panel prices and promotional activities. Analysts predict that mainstream panel prices will continue to rise in April [3][4]. - **Market Performance**: The low-altitude economy sector is gaining traction, with several companies achieving significant stock price increases, indicating strong market interest and potential for growth [4][5]. - **Profit Growth**: Companies like Hu Guang Co. and Yutong Bus reported substantial profit increases, with net profits growing by 504.60% and 445% year-on-year, respectively, reflecting the positive economic environment [9][10]. Conclusion The low-altitude economy is poised for rapid growth, driven by government initiatives and increasing consumer interest. Companies involved in this sector, such as Zongshen Power and CITIC Offshore Helicopter, are well-positioned to capitalize on emerging opportunities. Additionally, the panel industry is also experiencing favorable conditions, suggesting a broader trend of recovery and growth across related sectors.

那么我们今天的这个宏观文献伴读资料又和大家见面了我们今天的这个探讨的话题是就业和城市规模那么熟悉我们主持前的这个报告你们可能知道就是虽然说我们今天是一个文献阅读的电话会议但是在互联网招聘数据方面我们平时也是在不断跟踪的去年年初的时候我们发了一篇报告是 从商场招聘等数据捕捉当下改变然后呢之后我们一直都在跟踪招聘的情况那么我们用那个来自通联的数据就是罗伯投资他的这个互联网招聘帖子数还有互联网招聘的公司数去跟踪就是疫情防控转断之后的这个修复的一个情况 而且我们发现虽然说这样的互联网数据它是属于比较新的比较另类的数据但是现在在学术研究当中互联网招聘数据也已经变得越来越常见大家对于这种数据的权威性还有这个数据的 今天我们想首先介绍的一篇文章是2002年发布在经济学节刊上的那么为什么我们要介绍这篇文章就是因为它用的数据跟我们非常的接近它也是用58同城这样的 网站上的这个招聘去衡量就是城市法动物医学场的这个稳健的程度是跟我们是有点相像的那么这篇文章它的题目叫做城市规模与就业冲击基于新冠疫情后的网络招聘数据分析 那么这篇文章它首先是基于很多人都探讨过这个话题那就是城市规模到底是否有利于当地就业市场的发展那么有些观点其实主流观 ...

下面首先播报合规提示该电话会内容仅代表已发布报告宏观半读系列10就业与城市规模的分析师观点东方证券不保证本电话会中的观点或陈述不会发生任何变更在不同时期东方证券可发出与本电话会内容观点推测不一致的证券研究报告 各位投资者大家中午好我是东方宏观研究员陈志立那么我们今天的这个宏观文献半读系列又和大家见面了我们今天的这个探讨的这个话题是就业和城市规模那么熟悉我们组之前的这个报告你们可能知道就是虽然说我们今天是一个文献阅读的电话会议但是在 互联网招聘数据方面我们平时也是在不断跟踪的去年年初的时候我们发了一篇报告是从商场招聘等数据捕捉当下改变然后呢之后我们一直都在跟踪招聘的情况那么我们用那个来自通联数据就是罗博投资它的这个互联网招聘帖子数还有互联网招聘的公司数去跟踪就是疫情防控转断之后的这个 修复的一个情况而且我们发现虽然说这样的这种互联网数据它是属于比较新的比较另类的数据但是现在在学术研究当中互联网招聘数据也已经变得越来越常见了大家对于这种数据的权威性还有这个数据的所揭示的这当中所呈现出来的一些启发就都非常的关注 那么今天我们想首先介绍的一篇文章是2022年发布在经济学期刊上的那么为什么我们要介绍这篇文章就是因为它用 ...

市场监测 | 上海租赁住房市场（2024 年 2 月） 城市测量师行定期监测上海集中式租赁住房市场，包括市场化运营的长租公寓以及政策性的保障性租赁 住房、公共租赁住房，帮助大家了解租赁住房市场行情，欢迎持续关注~ 01 租赁住房市场运行情况 据上海市房屋管理局网站公示信息（截至 2024 年3 月1 日）显示，2024 年1 月至2 月全市 共有 2 个纯租赁住房项目获发交付许可证，涉及浦东和普陀 2 个行政区。 ...