点击蓝字，关注我们 今日上午港股 1 . 加密货币概念股早盘再度下跌，截至发稿， 迷策略(02440)跌4.76%，雄岸科技(01647)跌1.37%，欧 科云链(01499)跌0.58% 。 消息面上，周二，比特币一度跌破7.3万美元，跌破了2025年4月7日特朗普 公布对等关税后所创的年内低点。"大空头"巴里警告称，若比特币价格进一步下跌可能会迅速加剧主 要持有者的资产负债表压力，迫使整个加密货币生态系统进行抛售，并引发大范围的价值崩盘。 2 . AI新技术冲击软件股， 聚水潭(06687)今早一度跌近13%，创上市以来新低，截至发稿跌9.27% 。 消息面上，周二，由AI初创巨头Anthropic推出的新型自动化工具引发了市场对软件股的恐慌性抛售， 创下去年4月以来跌幅最大的一天。分析师指出，AI进展的预期已发生质变：从最初认为AI能"助力增 长"，转向质疑AI是否会"彻底取代"传统订阅模式。 3 . 高地股份(01676)盘中跌近40% 。消息面上，香港联交所最新资料显示，1月15日，高地股份股东将 股票由凯基证券亚洲转入富途证券国际香港，转仓市值2095.26万港元，占比13.51%。高地股份发布 ...

Group 1 - The Hong Kong stock market saw a collective rise in property stocks, with Sunac China increasing by over 6%, Longfor Group and China Resources Land rising by over 5%, and Yuexiu Property increasing by over 4% [1] - Other notable increases include New City Development, China Overseas Development, Vanke, Greentown China, CIFI Holdings, and China Jinmao, all rising by over 3% [1] - The rise in property stocks is attributed to the substantial launch of a project in Shanghai aimed at acquiring second-hand housing for affordable rental housing, targeting new citizens, young people, university graduates, and various talent groups [1] Group 2 - Specific stock performance includes: - Sunac China (01918) up 6.14% to 1.210 with a market cap of 19.593 billion, down 7.63% year-to-date - Longfor Group (03380) up 5.93% to 1.430 with a market cap of 8.13 billion, down 20.11% year-to-date - China Resources Land (01109) up 5.21% to 31.880 with a market cap of 227.334 billion, up 17.21% year-to-date - Yuexiu Property (00123) up 4.68% to 4.700 with a market cap of 18.919 billion, up 18.69% year-to-date [2] - Other companies with notable performance include New City Development (up 3.92%), China Overseas Development (up 3.79%), and Vanke (up 3.37%) [2]

港股市场内房股集体上涨，其中，融创中国涨超6%，龙光集团、华润置地涨超5%，越秀地产涨超4%， 新城发展、中国海外发展、万科企业、绿城中国、旭辉控股集团、中国金茂涨超3%。 ...

Group 1 - The Hong Kong stock market saw a collective rise in property stocks on February 4, with notable increases including Sunac China up over 6%, Longfor Group and China Resources Land up over 5%, and Yuexiu Property up over 4% [1] - The Shanghai government has initiated a program to acquire second-hand housing for the purpose of providing affordable rental housing, targeting new citizens, young people, university graduates, and various talent groups [1] - The signing event for this initiative included cooperation agreements between the Shanghai branch of China Construction Bank and public rental housing companies in three districts, providing financial support for the acquisition work [1] Group 2 - Sunac China (01918) increased by 6.14% to a price of 1.210 with a total market value of 195.93 billion, showing a year-to-date decline of 7.63% [2] - Longfor Group (03380) rose by 5.93% to 1.430 with a market cap of 81.3 billion, reflecting a year-to-date drop of 20.11% [2] - China Resources Land (01109) saw a 5.21% increase to 31.880, with a market value of 2273.34 billion and a year-to-date gain of 17.21% [2] - Yuexiu Property (00123) increased by 4.68% to 4.700, with a market cap of 189.19 billion and a year-to-date rise of 18.69% [2] - New City Development (01030) rose by 3.92% to 2.650, with a market value of 187.24 billion and a year-to-date increase of 29.27% [2] - China Overseas Development (00688) increased by 3.79% to 14.520, with a market cap of 1589.2 billion and a year-to-date rise of 18.53% [2] - Vanke Enterprise (02202) saw a 3.37% increase to 3.680, with a market value of 439.05 billion and a year-to-date gain of 12.20% [2] - Greentown China (03900) rose by 3.27% to 11.370, with a market cap of 288.75 billion and a year-to-date increase of 34.24% [2] - CIFI Holdings (00884) increased by 3.19% to 0.097, with a market value of 16.61 billion and a year-to-date decline of 39.75% [2] - China Jinmao (00817) rose by 3.55% to 1.750, with a market cap of 236.47 billion and a year-to-date increase of 44.63% [2]

Group 1 - The core viewpoint of the article highlights a significant rise in Hong Kong property stocks, with Longfor Group (03380.HK) increasing by over 20% and Sunac China (01918.HK) rising by over 10% [1] - Other property stocks such as Country Garden (02007.HK), Yuexiu Property (00123.HK), China Resources Land (01109.HK), Agile Group (03383.HK), R&F Properties (02777.HK), and Vanke (02202.HK) also experienced upward movement [1]

本文源自：金融界AI电报 港股内房股持续走高，龙光集团(03380.HK)涨超20%，融创中国(01918.HK)涨超10%，碧桂园 (02007.HK)、越秀地产(00123.HK)、华润置地(01109.HK)、雅居乐集团(03383.HK)、富力地产 (02777.HK)、万科企业(02202.HK)等个股跟涨。 ...

消息面上，2月2日，中国建设银行支持上海市第一批收购二手住房用于保障性租赁住房项目签约活动举 办，以浦东新区、静安区、徐汇区为试点区，主要聚焦于业主有本区新房置换意愿的、房龄偏大的小户 型二手房源。中金认为，上海二手房挂牌量自2025年3季度已开始下降，带动其挂牌去化周期持续下 行；本次存量住房收储面向供给压力最为直接的二手房供给，也属对症下药的积极举措。 另据报道，在刚过去的1月份，北京二手房网签量超过1.5万套，已连续三个月稳定在1.4万套以上；上海 二手房连续三个月成交超2.2万套；深圳二手房共计录得6802套，创近10个月新高；广州二手住宅网签 8881套，市场韧性同样较强。业内专家认为，房地产市场的"小阳春"行情正提前显现，二手房市场率先 回暖，核心韧性凸显，春节后挂牌量的变化，将成为观察供需关系的关键窗口。 内房股早盘普涨，截至发稿，越秀地产(00123)涨4.01%，报4.67港元；中国海外宏洋集团(00081)涨4%， 报2.6港元；华润置地(01109)涨3.89%，报31.48港元；中国海外发展(00688)涨3.5%，报14.48港元；龙光 集团(03380)涨2.96%，报1.39港元 ...

Group 1 - The real estate stocks in China experienced a significant increase in early trading, with notable gains from companies such as Yuexiu Property (+4.01%), China Overseas Land & Investment (+4%), and China Resources Land (+3.89%) [1] - China Construction Bank is supporting the first batch of second-hand housing acquisitions in Shanghai for affordable rental housing projects, focusing on older small-sized second-hand homes in specific districts [1] - According to CICC, the listing volume of second-hand homes in Shanghai has been declining since Q3 2025, indicating a positive response to supply pressures in the housing market [1] Group 2 - In January, Beijing's second-hand housing transaction volume exceeded 15,000 units, remaining stable above 14,000 units for three consecutive months, while Shanghai's transactions surpassed 22,000 units [2] - Shenzhen recorded 6,802 second-hand homes sold, marking a nearly 10-month high, and Guangzhou saw 8,881 units, indicating strong market resilience [2] - Industry experts suggest that a "small spring" in the real estate market is emerging, with the second-hand market showing early signs of recovery, making post-Spring Festival listing changes a key observation point for supply-demand dynamics [2]

Core Insights - The report discusses the implementation of the "Tax Law Principle" and its implications for service industries such as internet and finance, indicating that current tax arrangements are unlikely to change significantly in the short term [2][3][12] - The real estate sector is experiencing a favorable shift in financing policies, with REITs and private placements opening new equity financing channels to alleviate financial pressures on real estate companies [3][13] Tax Law Implementation - The State Council approved the "Implementation Regulations of the Value-Added Tax Law of the People's Republic of China" on December 19, 2025, and subsequent announcements have clarified tax details, suggesting stability in tax arrangements for service industries [2][3][12] - The definition of "basic services" in telecommunications is evolving, with mobile data and internet broadband still classified as "value-added services" subject to a 6% VAT rate, while traditional voice services are recognized as "basic services" with a 9% VAT rate [2][3][12] Real Estate Sector Analysis - The financing environment for the real estate industry is improving, with a shift from debt financing to equity financing, including the introduction of REITs and private placements [3][13] - Recent regulatory changes, such as the gradual retreat from the "three red lines" policy, indicate a more supportive financing environment for real estate companies [13] - The report maintains a "positive" rating for the real estate sector, highlighting the potential for recovery in the industry as financing policies become more favorable [3][13] Investment Recommendations - The report recommends several quality real estate companies for investment, including China Jinmao, Poly Developments, and China Resources Land, among others, due to their potential for recovery and attractive valuations [13] - The report emphasizes the importance of monitoring the evolving financing landscape and the impact of government policies on the real estate market [3][13]

百强房企中业绩同比增长企业共有32家，其中同比增幅大于100%的企业数量有10家，其中6家是民营房企，部分企业业绩大幅回暖。销售增幅前十的房企 中中建壹品和邦泰集团都进入了操盘销售TOP20，尤其是民营房企中的邦泰集团，2026年业绩进一步增长，这主要是得益于企业自2021年以来的大规模错 峰投资，从而迎来了规模的跃进。 2026年1月临近春节，新房市场整体进入淡季。土地市场成交规模也迎来季节性回落，供求规模环比显著下降。 受制于供应规模、企业可售货值等因素，百强房企1月实现销售操盘金额1654.5亿元，同比继续下跌。值得注意的是，共有7家企业首次进入了TOP100榜 单。 2026年1月，在整体市场冷淡下，多数央企、国企企业尚未开始投资铺排，节后如果叠加政策支持，土拍热度有望回升。 2026年1月全国重点50城市新建商品住宅成交面积约810万平方米，表现较为清淡。但不少核心城市二手房市场迎来年底回暖，成交明显放量。 数据显示，重点13城市二手房成交面积约810万平方米，环比上升16%，同比增长33%，相比上年月均增18%。同时，二手房房价下跌幅度收窄，部分城市 挂牌量也有所下降，这都有助于稳定市场的预期。 ...