Group 1 - Poly Development has accelerated its land acquisition pace, with significant investments in cities like Xiamen and Hangzhou since April, surpassing its total land acquisition amount for the first quarter [2][3] - In a competitive bidding process, Poly Development won a key residential land parcel in Hangzhou for 4.537 billion yuan, with a premium rate of 58.8% and a floor price of 51,611 yuan per square meter, setting a new record for the area [2] - The company also acquired land in Xiamen for 3.414 billion yuan with a premium rate of 12.34%, and another parcel in Hangzhou for 4.25 billion yuan with a premium rate of 17.73% [2] Group 2 - In the first quarter of 2025, Poly Development's equity land acquisition amount was 12.1 billion yuan, indicating that the investment in the three parcels in April (12.201 billion yuan) exceeded the total for the quarter [3] - Alongside land acquisitions, Poly Development is also engaging in financing activities, having received approval for a convertible bond issuance of up to 8.5 billion yuan to fund 15 real estate projects in cities like Beijing and Shanghai [3] - The recent actions of Poly Development reflect a strategy to strengthen its project reserves in core cities and capitalize on market opportunities amid improving policy support and market confidence [3]

4月23日晚间，保利发展（600048）公告，公司向特定对象发行可转换公司债券的申请已获得中国证券 监督管理委员会同意注册批复，成为资本市场首单成功获批的现金类定向可转债项目。 保利发展本次定向可转债的拟发行总额不超过85亿元(含本数)，募集资金拟用于北京、上海、佛山等城 市的15个"保交楼、保民生"相关的房地产开发项目。本次定向可转债将有效满足募集资金投资项目的资 金需求，为公司补充经营发展所需资金。同时，本次融资也将有助于保利发展优化资本结构和债务结 构，更好匹配发展新模式的要求，为行业树立标杆，有效增强市场信心。 保利发展表示，本次定向可转债的成功注册，不仅对公司发展有着积极作用，在推动资本市场改革创 新、促进房地产行业平稳发展、保障与改善社会民生等方面同样具有重要意义。 据了解，保利发展本次定向可转债为资本市场首单注册的现金类定向可转债项目，是定向可转债在并购 重组运用之后，在再融资领域的一次新的尝试，为房企上市公司融资提供了新的融资渠道选择，也为投 资人提供了更多元的投资选择。 在行业发展层面，保利发展本次定向可转债是中国证监会2022年"资本市场支持房地产市场平稳健康发 展"政策精神的延续，表明监 ...