Core Viewpoint - The company reported a significant decline in contract sales and rental income for the year 2025, indicating potential challenges in the real estate market [1] Group 1: Contract Sales - In November 2025, the company achieved a contract sales amount of approximately RMB 1.448 billion, with a contract sales area of about 200,900 square meters [1] - Cumulatively, from January to November 2025, the total contract sales amount was approximately RMB 17.917 billion, representing a year-on-year decrease of 51.53%, with a total sales area of about 2,351,600 square meters [1] Group 2: Rental Income - As of November 2025, the company had a total of 178 rental properties, with a total construction area of approximately 16,381,800 square meters [1] - The rental income for November 2025 was approximately RMB 1.078 billion, while the commercial operating income was about RMB 1.155 billion (including tax rental income) [1] - Cumulatively, from January to November 2025, the total rental income was approximately RMB 11.990 billion, and the total commercial operating income was about RMB 12.852 billion (including tax rental income) [1]
新城发展前11个月累计合同销售金额约179.17亿元 同比减少51.53%