Group 1 - The A-share real estate sector is active, with New Dazheng hitting the daily limit, indicating strong investor interest [1] - Nandu Property and Debi Group both increased by over 5%, reflecting positive market sentiment towards these companies [1] - Guangyu Group and Huayuan Real Estate saw gains of over 3%, contributing to the overall upward trend in the real estate sector [1]

Core Viewpoint - The company, Xinda Zheng Property Group Co., Ltd., has announced its 2024 annual dividend distribution plan, which includes a cash dividend of 1.85 RMB per 10 shares for shareholders, excluding shares held in the repurchase account [2][19]. Summary by Sections Dividend Distribution Announcement - The company plans to distribute a total cash dividend of approximately 41.59 million RMB, calculated based on 224,827,783 shares eligible for distribution at a rate of 0.185 RMB per share [2][20]. - The dividend distribution plan was approved at the annual shareholders' meeting held on May 20, 2025 [2][19]. Shareholder Rights and Exclusions - Shares held in the company's repurchase account (1,450,000 shares) will not participate in the dividend distribution [2][7]. - The cash dividend per share after accounting for the repurchased shares will be approximately 0.1838145 RMB [2][20]. Key Dates - The record date for shareholders to receive the dividend is set for June 5, 2025, and the ex-dividend date is June 6, 2025 [9][19]. Dividend Payment Method - Cash dividends will be directly credited to shareholders' accounts through the designated securities companies on the ex-dividend date [11][12]. Adjustments to Share Repurchase Price - Following the dividend distribution, the maximum repurchase price will be adjusted from 13.96 RMB per share to 13.78 RMB per share, effective from June 6, 2025 [17][21].

证券代码：002968 证券简称：新大正 公告编号：2025-020 新大正物业集团股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 规定，新大正物业集团股份有限公司（以下简称"公司"）通过回购专用证券账 户持有的公司股份 145 万股不享有参与本次利润分配的权利。 红的总金额=实际参与分配的总股本*分配比例，即 224,827,783 股*0.185 元/股 =41,593,139.86 元人民币；本次分红派息实施后除息价格计算时，每股现金红 利 应 以 0.1838145 元 / 股 计 算 ( 每 股 现 金 红 利 = 现 金 分 红 总 额 / 总 股 本 ， 即 保留小数点后七位)。在保证本次分红派息实施方案不变的前提下，2024 年年度 分红派息实施后的除权除息参考价=股权登记日收盘价-0.1838145 元/股。 【注：根据先进先出的原则，以投资者证券账户为单位计算持股期限，持股 原则调整分配总额。 三、分红派息日期 四、分红派息对象 本次分派对象为：截止 2025 年 6 月 5 日下午深圳证券交易所收市后，在中 国证 ...

Group 1 - The company has adjusted the maximum repurchase price for its shares from RMB 13.96 per share to RMB 13.78 per share, effective from June 6, 2025 [1][2] - The company plans to use its own funds to repurchase shares for employee stock ownership plans or equity incentives, with a total repurchase fund amounting to no less than RMB 10 million and no more than RMB 20 million [1] - The repurchase period is set for up to 12 months from the date of the board's approval [1] Group 2 - The profit distribution plan for 2024 includes a cash dividend of RMB 1.85 per 10 shares (tax included), with no stock dividends or capital reserve transfers [2] - The record date for the dividend distribution is June 5, 2025, and the ex-dividend date is June 6, 2025 [2] - The total cash dividend amount is calculated based on the total share capital participating in the distribution, resulting in approximately RMB 41.59 million [2] Group 3 - Other aspects of the share repurchase remain unchanged, and the company will fulfill its information disclosure obligations based on the progress of the repurchase [3]

证券代码：002968 证券简称：新大正 公告编号：2025-020 新大正物业集团股份有限公司 2024 年年度分红派息实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 1、根据《深圳证券交易所上市公司自律监管指引第 9 号-回购股份》等相关 规定，新大正物业集团股份有限公司（以下简称"公司"）通过回购专用证券账 户持有的公司股份 145 万股不享有参与本次利润分配的权利。 2、鉴于公司回购专户的股份不参与 2024 年年度分红派息，本次实际现金分 红的总金额=实际参与分配的总股本*分配比例，即 224,827,783 股*0.185 元/股 =41,593,139.86 元人民币；本次分红派息实施后除息价格计算时，每股现金红 利应以 0.1838145 元/股计算(每股现金红利=现金分红总额/总股本，即 41,593,139.86 元÷226,277,783 股=0.1838145 元/股，计算结果不四舍五入， 保留小数点后七位)。在保证本次分红派息实施方案不变的前提下，2024 年年度 分红派息实施后的除权除息参考价=股权登记日收盘价 ...

证券代码：002968 证券简称：新大正 公告编号：2025-021 新大正物业集团股份有限公司 二、2024 年分红派息实施情况 公司于 2025 年 5 月 20 日召开的 2024 年年度股东大会审议通过《2024 年度 利润分配预案及 2025 年度中期分红规划的议案》,2024 年度利润分配方案为： 以利润分配实施时股权登记日总股本（扣除回购专户持有股份数）为基数，向全 体股东每 10 股派发现金红利 1.85 元（含税），不送红股，不以公积金转增股本。 公司与 2025 年 5 月 28 日披露了《2024 年年度分红派息实施公告》（公告编 号：2025-020），确定股权登记日为 2025 年 6 月 5 日，除权除息日为 2025 年 6 月 6 日，截至本公告披露日上述事项尚未实施完毕。具体内容详见公司披露于巨 潮资讯网（http://www.cninfo.com.cn）的相关公告。 三、本次回购股份价格上限调整 关于分红派息实施后调整回购股份价格上限的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 自 2025 年 6 月 ...

Group 1: Real Estate Development Sector - As of May 23, 2025, the real estate (Shenwan) price-to-earnings ratio (PE TTM) is 39.04, with a historical percentile of 84.38% (2024-present) [2] - The real estate (Shenwan) price-to-book ratio (PB LF) is 0.71, with a historical percentile of 67.12% (2024-present) [2] - From May 1 to May 23, 2025, the real estate (Shenwan) index decreased by 1.4%, underperforming the CSI 300 index by 4.3 percentage points [2] - Key A-share real estate companies with the largest declines include China Vanke (-2.64%) and Shanghai Lingang (-1.87%) [2] Group 2: Property Services Sector - As of May 23, 2025, the real estate services (Shenwan) PE TTM is 42.46, with a historical percentile of 56.76% (2024-present) [3] - The real estate services (Shenwan) PB LF is 1.53, with a historical percentile of 63.66% (2024-present) [3] - From May 1 to May 23, 2025, the real estate services (Shenwan) index fell by 2.5%, underperforming the CSI 300 index by 5.4 percentage points [3] - Key A-share property service companies with the largest gains include Nandu Property (+5.17%) and Xinda Zheng (+2.30%) [3] Group 3: Public Fund Holdings in Real Estate - As of the end of Q1 2025, the total market value of public funds holding real estate stocks is approximately 54.84 billion, accounting for about 0.17% of net asset value [4] - The proportion of real estate stocks in the public fund's investment portfolio is approximately 0.79%, which is underweight by about 0.49 percentage points compared to the standard industry allocation [4]

Investment Rating - The report maintains an "Accumulate" rating for the real estate service industry [1] Core Viewpoints - The long-term growth of property companies relies on high-quality third-party expansion, stable gross margins, and community value-added services [60] - The industry is experiencing a shift towards focusing on core property service revenue, with a notable increase in its share of total income [10][13] - The report emphasizes the importance of managing accounts receivable and cash flow to mitigate operational risks [61] Summary by Sections 1. Sources of Long-term Growth for Property Companies - High-quality third-party expansion is essential for sustainable growth, with a significant increase in the share of core property service revenue among sample companies [10][16] - Profitability stabilization is more critical than mere scale growth, with some companies showing signs of gross margin recovery after years of decline [20][25] - Community value-added services, while not a second growth engine, can contribute to stable revenue and profit growth during low-growth phases [57] 2. Operational Risks Facing Property Companies - The accumulation of accounts receivable and the aging of these receivables pose significant risks to cash flow, with many companies experiencing faster growth in receivables than in revenue [61][63] - The report highlights the need for property companies to control the rapid growth of receivables to maintain financial health [61] 3. Valuation Recovery Potential in the Industry - The valuation of property companies is influenced by growth potential, profitability quality, and shareholder return policies, with a focus on maintaining a dividend payout [3][24] - Companies that can achieve stable mid-term growth and manage operational risks effectively are likely to see improved valuations [4][19] 4. Investment Recommendations - The report recommends companies that demonstrate stable growth, effective risk management, and a commitment to high dividends, highlighting specific companies such as China Resources Vientiane Life, Greentown Service, and China Merchants Jinling [4][19]

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1. 本次股东大会无增加、否决提案的情形。 2. 本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开情况 1．会议召开时间： 证券代码：002968 证券简称：新大正 公告编号：2025-019 新大正物业集团股份有限公司 2024年年度股东大会决议公告 现场会议时间：2025年5月20日 （周二）下午15:30 网络投票时间：2025年5月20日 其中：通过深交所交易系统进行网络投票的具体时间为2025年5月20日 9:15-9:25、9:30-11:30、13:00-15:00；通过互联网投票系统投票的具体时 间为2025年5月20日 9:15-15:00。 2. 会议召开地点：重庆市渝中区重庆总部城A区10号楼一楼会议室。 3. 会议召开方式：本次会议采用现场表决与网络投票相结合的方式。 4. 会议召集人：公司董事会。 5. 会议主持人：董事长李茂顺先生。 6. 公司于2025年4月29日在《证券时报》《上海证券报》及巨潮资讯网 （http://www.cninfo.com.cn）上 ...

国浩律师（重庆）事务所 关于 新大正物业集团股份有限公司 2024 年年度股东大会 的法律意见书 中国重庆市江北区江北城西大街 25 号平安财富中心 8 楼 邮编：400023 8th Floor, Pingan Fortune Centre, No.25 West Avenue, Jiangbei Town, Jiangbei District, Chongqing, P.R.China 电话/Tel: +8623 8679 8588 6775 8383 传真/Fax: +8623 8679 8722 网址/Website: http://www.grandall.com.cn 二〇二五年五月 法律意见书! 国浩律师（重庆）事务所 关于新大正物业集团股份有限公司 2024 年年度股东大会 的法律意见书 2025 意字第 0232025CQY02623 号 致：新大正物业集团股份有限公司 国浩律师（重庆）事务所（以下简称"本所"）系经重庆市司法局批准成立的法 律服务执业机构，持有重庆市司法局颁发的《律师事务所执业许可证》。现根据贵公 司的委托，指派本所律师列席贵公司于 2025 年 5 月 20 日召开的 2 ...