JINKE PROPERTY(SZ:000656) Hua Xia Shi Bao·2025-11-26 08:01Group 1: Urban Development Conference - The 9th Huaxia Urban Industry Chain Development Conference and 2025 Urban Construction High-Quality Development Forum was successfully held in Beijing, focusing on high-quality urban development, urban renewal, barrier-free construction, and elderly-friendly renovations [1] - Leaders from the Ministry of Housing and Urban-Rural Development and various city construction systems shared innovative practices and systematic solutions for barrier-free environment construction, showcasing replicable and promotable advanced cases [1] - The conference highlighted the "2025 Annual Urban Industry Chain Cases," presenting new achievements, technologies, and breakthroughs in China's urban development transformation [1] Group 2: Kinko Co., Ltd. Restructuring Case - Kinko Co., Ltd. has emerged as the first publicly listed large real estate company to achieve rebirth through judicial restructuring, providing a replicable model for resolving systemic risks in the real estate industry [2] - The company implemented an innovative restructuring plan "1+1+N," balancing creditor interests with the need for sustainable operations, and offering an "AMC-led" solution for large real estate companies [2][5] - Kinko's restructuring strategy involves a combination of quality capital, central enterprise AMC, and local state-owned enterprises, transforming individual company risks into regional resource integration and industry model innovation [2][5] Group 3: Delivery and Business Growth - Kinko Co., Ltd. prioritizes "ensuring housing delivery" as its primary operational task, achieving a cumulative delivery of approximately 314,000 units and 48.4 million square meters since the start of its housing delivery efforts in 2022, with an overall progress rate of about 98% [3][6] - The company has signed new construction contracts for 7.23 million square meters in the first nine months of 2025, marking a significant year-on-year growth of 71.3%, ranking seventh nationwide [3] Group 4: Business Structure and Future Growth - Post-restructuring, Kinko will establish four major business segments: investment management, development services, operational management, and special assets, focusing on improving business structure and operational performance [4] - The company aims to transition into a comprehensive real estate operator with a focus on efficient operations, lean management, and technological innovation, enhancing profitability, asset value, and liquidity [4][6] Group 5: Green and Low-Carbon Development Case - The Dongguan Chashan Yujingtai project emphasizes green and low-carbon practices, starting from the design phase to enhance living quality while maximizing landscape resources [6][7] - The project incorporates prefabricated construction and BIM design to ensure quality and sustainability, with community amenities including public kindergartens and schools, and a focus on accessibility for disabled individuals and the elderly [7] Group 6: Industry Trends and ESG Practices - The project exemplifies a shift from scale competition to quality competition in the real estate industry, highlighting the importance of practical, reusable solutions over mere technical showcases [8] - As financing increasingly emphasizes ESG performance, projects like this enhance product competitiveness and serve as proof of a company's sustainable development capabilities [8]