报告期内，归属于上市公司股东的扣除非经常性损益的净利润同比增加219.52%，主要是：(1)本期房产 业务交付结转同比增加，净利润同比增加;(2)本期非经常性损益由正转负，由于证券市场价值波动，非 经常性损益中公允价值变动损益同比下降，同时其他非经常性损益同比下降。 智通财经APP讯，城投控股(600649.SH)披露2025年度业绩快报，2025年度营业总收入144.62亿元，同比 增长53.33%;归属于上市公司股东的净利润2.9亿元，同比增长19.67%。 ...

格隆汇2月9日丨城投控股(600649.SH)公布2025年度业绩快报，公司报告期实现营业总收入144.62亿元， 同比增长53.33%；归属于上市公司股东的净利润2.9亿元，同比增长19.67%；归属于上市公司股东的扣 除非经常性损益的净利润3.39亿元，同比增长219.52%。 报告期内，营业收入同比增加53.33%，营业利润同比增加36.11%，主要是公司房产项目竣工交付结转 较上年同期增加。报告期内，归属于上市公司股东的扣除非经常性损益的净利润同比增加219.52%，主 要是：（1）本期房产业务交付结转同比增加，净利润同比增加；（2）本期非经常性损益由正转负，由 于证券市场价值波动，非经常性损益中公允价值变动损益同比下降，同时其他非经常性损益同比下降。 ...

证券代码：600649 证券简称：城投控股 公告编号：2026-005 上海城投控股股份有限公司 关于选举职工董事的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担法律责任。 上海城投控股股份有限公司（以下简称"公司"）第十 一届董事会任期即将届满，根据《中华人民共和国公司法》 及《公司章程》等相关规定，公司于 2026 年 2 月 6 日召开 了第三届第三次职工代表大会，会议选举张舰先生（简历附 后）为公司第十二届董事会职工董事。张舰先生将与公司 2025 年年度股东会选举产生的非职工代表董事共同组成公 司第十二届董事会，任期与第十二届董事会一致。 为确保董事会的正常运作，在公司第十二届董事会成立 前，公司第十一届董事会仍将依照法律法规的要求及《公司 章程》的规定，认真履行相应职责。 特此公告。 附件：职工董事简历 上海城投控股股份有限公司董事会 2026 年 2 月 10 日 1 附件：职工董事简历 职工董事 张舰先生 张舰，1984 年 12 月生，汉族，吉林双辽籍，研究生学 历，硕士学位，政工师。2004 年 11 月加入中 ...

证券代码：600649 证券简称：城投控股 公告编号：2026-003 上海城投控股股份有限公司 关于子公司收到《税务处理决定书》的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担法律责任。 上海城投控股股份有限公司（以下简称"公司"）全资 子公司上海露香园置业有限公司（以下简称"露香园公司"） 于近日收到《税务处理决定书》（沪税稽五处[2026]40 号）， 现将相关情况公告如下： 一、主要内容 2023 年，露香园公司在对开发的房产项目进行土地增值 税清算申报时，归集计算扣除项目不准确，多计扣除项目金 额合计 302,970,052.66 元，已在土地增值税清算申报时税前 扣除。 根据《中华人民共和国土地增值税暂行条例》(国务院令 第 138 号)第二条、第三条、第四条、第六条，《中华人民共 和国土地增值税暂行条例实施细则》(财法字[1995]6 号)第七 条，《国家税务总局关于房地产开发企业土地增值税清算管 理有关问题的通知》(国税发[2006]187 号)第二条、第四条， 《国家税务总局关于印发<土地增值税清算管理规程>的通 ...

格隆汇2月9日丨城投控股(600649.SH)公布，公司于2026年2月6日召开了第三届第三次职工代表大会， 会议选举张舰先生为公司第十二届董事会职工董事。张舰先生将与公司2025年年度股东会选举产生的非 职工代表董事共同组成公司第十二届董事会，任期与第十二届董事会一致。 ...

| 项目 | 本报告期 | 上年同期 | 增减变动幅度（％） | | --- | --- | --- | --- | | 营业总收入 | 1,446,227.90 | 943,229.59 | 53.33 | | 营业利润 | 69,939.01 | 51,385.21 | 36.11 | | 利润总额 | 64,356.20 | 51,248.75 | 25.58 | | 归属于上市公司股东的净 利润 | 29,046.38 | 24,271.29 | 19.67 | | 归属于上市公司股东的扣 除非经常性损益的净利润 | 33,919.32 | 10,615.64 | 219.52 | | 基本每股收益（元/股） | 0.12 | 0.10 | 18.88 | | 加权平均净资产收益率 （%） | 1.39 | 1.16 | 增加 0.23 个百 分点 | | | 本报告期末 | 本报告期初 | 增减变动幅度（％） | | 总 资 产 | 8,246,232.75 | 8,466,944.27 | -2.61 | 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容 ...

Investment Rating - The report maintains an "Overweight" rating for the real estate industry [4] Core Insights - The report highlights the significance of Shanghai's new policy to acquire second-hand housing for affordable rental housing, indicating a strong signal in a declining market. The policy aims to link demand for affordable housing with improvement needs, potentially activating the market by directing purchasing power to higher-priced new and second-hand homes [11][12] - The report emphasizes that the real estate sector serves as an early economic indicator, suggesting that investing in real estate is akin to investing in economic trends. The competitive landscape is expected to improve, benefiting leading state-owned enterprises and quality developers [4] - The report suggests focusing on first-tier cities and select second- and third-tier cities, as this combination has shown better performance during market rebounds [4] Summary by Sections 1. Shanghai's Housing Acquisition Policy - Shanghai has initiated a program to acquire second-hand housing for affordable rental purposes, with pilot areas including Pudong, Jing'an, and Xuhui, each having distinct acquisition criteria and models [11] - The policy aims to match housing types with talent needs, focusing on low-priced, small-sized properties to stimulate market activity [12] 2. Market Review - The report notes that the real estate index has shown minimal change, outperforming the CSI 300 index by 1.34 percentage points. A total of 73 stocks in the real estate sector increased in value, while 40 stocks decreased [15] - The top-performing stocks included Jinglan Technology and Qianjing Garden, with significant weekly gains [21] 3. New and Second-Hand Housing Transactions - In the week leading up to February 6, new housing transactions in 30 cities totaled 131.2 million square meters, a 5.2% decrease from the previous week but a 138.2% increase year-on-year. First-tier cities saw a 4.0% increase week-on-week [26] - Second-hand housing transactions in 15 sample cities totaled 204.5 million square meters, reflecting a 3.5% decrease week-on-week but a 717.5% increase year-on-year [35]

Core Insights - The Chinese urban water supply industry is experiencing growth, with a total supply expected to reach 704.88 billion tons in 2024, marking a year-on-year increase of 2.52% [21][26] - The industry is entering a mature phase, with future demand growth expected to slow down despite ongoing urbanization [21][28] - Key listed companies in the sector include Beijing Enterprises Water Group, Beijing Capital Eco-Environment Protection Group, and others [21][26] Urban Water Supply Industry Overview - Urban water supply systems consist of water source extraction facilities, treatment plants, and distribution networks, adhering to principles of resource development and water conservation [21][23] - The process involves transporting water from sources to treatment facilities, followed by purification and distribution to households, including secondary supply measures for high-rise buildings [23][26] Industry Policies - The urban water supply sector is critical for public health and social stability, prompting the government to implement various policies aimed at enhancing water supply safety and promoting sustainable development [26][27] - Notable policies include the 2025 plan for comprehensive river protection and the 2025-2030 implementation plan for high-quality development of water-saving equipment [26][27] Development Background - The urban water supply industry's growth is closely linked to urbanization, with the urbanization rate in China rising from 58.52% in 2017 to 67% in 2024 [28] - Future developments will focus on water safety, efficiency, and smart management alongside meeting increasing demand [28] Industry Chain - The urban water supply industry chain includes upstream components such as water sources and treatment facilities, midstream construction and operation, and downstream markets comprising residential and commercial users [30][31] Current Industry Status - The urban water supply sector is a vital infrastructure component of the national economy, essential for urbanization and sustainable development [32][35] - The total length of urban water supply pipelines in China has increased from 710,200 kilometers in 2015 to 1,199,500 kilometers in 2024, with a compound annual growth rate of 6% [33][35]

Group 1 - The real estate and building materials sectors are experiencing repeated activity, with companies such as Jingtou Development and Hanjian Heshan achieving three consecutive trading limits [1] - Other companies including Tubao, Jianlang Hardware, Sankeshu, Chengtou Holdings, Jintou Chengkai, and China Wuyi are also seeing upward trends [1]

2026 年 02 月 05 日 开源晨会 0205 ——晨会纪要 -20% 0% 20% 40% 60% 80% 2025-02 2025-06 2025-10 沪深300 创业板指 数据来源：聚源 昨日涨跌幅前五行业 | 行业名称 | 涨跌幅(%) | | --- | --- | | 煤炭 | 7.583 | | 建筑材料 | 3.481 | | 房地产 | 2.966 | | 交通运输 | 2.818 | | 食品饮料 | 2.333 | | 数据来源：聚源 | | 昨日涨跌幅后五行业 | 行业名称 | 涨跌幅(%) | | --- | --- | | 传媒 | -3.122 | | 通信 | -2.735 | | 计算机 | -1.696 | | 电子 | -1.550 | | 商贸零售 | 0.140 | | 数据来源：聚源 | | 吴梦迪（分析师） wumengdi@kysec.cn 证书编号：S0790521070001 观点精粹 总量视角 【金融工程】港股量化：2026 开年恒指强劲，2 月组合维持低估值配置——金融 工程定期-20260204 港股 CCASS 优选 20 组合的绩效表现：组 ...