Core Viewpoint - The stock price of China Merchants Shekou Industrial Zone Holdings Co., Ltd. has shown fluctuations, with a recent increase of 2.01% to 9.64 CNY per share, while the company has experienced a year-to-date decline of 4.05% [1] Financial Performance - For the period from January to September 2025, the company reported a revenue of 89.766 billion CNY, representing a year-on-year growth of 15.07%, while the net profit attributable to shareholders decreased by 3.99% to 2.497 billion CNY [2] - Cumulatively, the company has distributed dividends amounting to 38.997 billion CNY since its A-share listing, with 6.429 billion CNY distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 26.89% to 102,600, while the average number of circulating shares per person increased by 36.78% to 82,431 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 131 million shares, a decrease of 13.0182 million shares from the previous period [3]

Core Viewpoint - The stock of Bubugao has shown volatility with a year-to-date increase of 34.68%, but has recently experienced a decline of 10.29% over the last five trading days and 6.83% over the last twenty days [1] Group 1: Stock Performance - As of November 24, Bubugao's stock price rose by 2.11% to 5.32 CNY per share, with a trading volume of 2.91 billion CNY and a turnover rate of 2.58% [1] - The total market capitalization of Bubugao is 14.304 billion CNY [1] - The stock has appeared on the "龙虎榜" (a trading list) ten times this year, with the most recent appearance on September 9, where it recorded a net buy of -51.528 million CNY [1] Group 2: Financial Performance - For the period from January to September 2025, Bubugao achieved a revenue of 3.201 billion CNY, representing a year-on-year growth of 26.45%, while the net profit attributable to shareholders decreased by 88.83% to 226 million CNY [2] - The company has distributed a total of 1.677 billion CNY in dividends since its A-share listing, with no dividends paid in the last three years [3] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders of Bubugao increased by 95% to 172,500, while the average circulating shares per person decreased by 27.06% to 12,476 shares [2] - The Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3] Group 4: Business Overview - Bubugao operates in the retail sector, specifically in general retail and supermarkets, with its main business revenue composition being 64.34% from supermarkets, 27.44% from other businesses, 6.01% from department stores, and 2.21% from logistics and advertising [1][2]

Core Viewpoint - Hang Seng Electronics has experienced fluctuations in stock price and trading volume, with a recent increase of 2.01% to 28.92 CNY per share, while facing a year-to-date price increase of 3.69% but a significant decline over the past 60 days of 24.80% [1] Financial Performance - For the period of January to September 2025, Hang Seng Electronics reported a revenue of 3.49 billion CNY, a year-on-year decrease of 16.66%, while the net profit attributable to shareholders was 455 million CNY, reflecting a growth of 2.16% [2] - Cumulative cash dividends since the A-share listing amount to 2.44 billion CNY, with 682 million CNY distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders increased to 213,800, with an average of 8,863 shares held per shareholder, a decrease of 5.59% from the previous period [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder with 92.13 million shares, a decrease of 40.78 million shares from the previous period [3]

资金流向方面，主力资金净流出1412.94万元，特大单买入1077.78万元，占比3.22%，卖出1463.57万 元，占比4.37%；大单买入5903.05万元，占比17.62%，卖出6930.20万元，占比20.69%。 11月21日，步步高（维权）盘中下跌2.03%，截至10:14，报5.30元/股，成交3.35亿元，换手率2.87%， 总市值142.50亿元。 步步高今年以来股价涨34.18%，近5个交易日跌9.71%，近20日跌7.34%，近60日涨9.05%。 分红方面，步步高A股上市后累计派现16.77亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年9月30日，步步高十大流通股东中，香港中央结算有限公司退出十大流通股 东之列。 责任编辑：小浪快报 步步高所属申万行业为：商贸零售-一般零售-超市。所属概念板块包括：新零售、REITs概念、社区团 购、统一大市场、冷链物流等。 截至9月30日，步步高股东户数17.25万，较上期增加95.00%；人均流通股12476股，较上期减少 27.06%。2025年1月-9月，步步高实现营业收入32.01亿元，同比增长26.45%；归母净利润2. ...

Core Viewpoint - Poly Developments' stock price has experienced a decline of 18.43% year-to-date, with significant drops in recent trading periods, indicating potential challenges in the real estate market [1][2]. Financial Performance - For the period from January to September 2025, Poly Developments reported a revenue of 173.72 billion yuan, a year-on-year decrease of 4.95%, and a net profit attributable to shareholders of 1.93 billion yuan, down 75.31% year-on-year [2]. - Cumulative cash dividends since the A-share listing amount to 64.98 billion yuan, with 12.27 billion yuan distributed over the last three years [3]. Stock Market Activity - As of November 20, Poly Developments' stock price was 7.09 yuan per share, with a market capitalization of 84.87 billion yuan. The stock saw a trading volume of 9.27 billion yuan and a turnover rate of 1.11% [1]. - The stock has seen a net outflow of 48.91 million yuan in principal funds, with significant buying and selling activity from large orders [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased to 247,700, with an average of 48,319 shares held per shareholder, a decrease of 12.25% from the previous period [2][3]. - Major shareholders include China Securities Finance Corporation and Hong Kong Central Clearing Limited, with notable changes in their holdings [3].

Core Viewpoint - Zhangjiang Hi-Tech's stock price has shown volatility, with a year-to-date increase of 47.78% but a recent decline of 11.31% over the past 20 days, indicating potential market fluctuations and investor sentiment shifts [1]. Group 1: Stock Performance - As of November 20, Zhangjiang Hi-Tech's stock price was 39.28 CNY per share, with a market capitalization of 60.83 billion CNY [1]. - The stock experienced a net outflow of 37.06 million CNY in principal funds, with significant selling pressure observed [1]. - Year-to-date, the stock has been on the龙虎榜 (top trading list) twice, with the most recent occurrence on September 23 [1]. Group 2: Financial Performance - For the period from January to September 2025, Zhangjiang Hi-Tech reported a revenue of 2.004 billion CNY, reflecting a year-on-year growth of 19.09% [2]. - The net profit attributable to shareholders for the same period was 617 million CNY, marking a year-on-year increase of 20.66% [2]. Group 3: Shareholder and Dividend Information - Since its A-share listing, Zhangjiang Hi-Tech has distributed a total of 4.818 billion CNY in dividends, with 963 million CNY distributed over the past three years [3]. - As of September 30, 2025, the number of shareholders increased to 262,400, while the average circulating shares per person decreased to 5,901 shares [2][3]. - Major shareholders have seen reductions in their holdings, with significant decreases noted among the top ten circulating shareholders [3].

Core Viewpoint - Zhangjiang Hi-Tech's stock price has shown significant volatility, with a year-to-date increase of 52.48% and a recent 6.10% rise over the last five trading days, indicating strong market interest and potential growth opportunities [1][2]. Financial Performance - For the period from January to September 2025, Zhangjiang Hi-Tech reported a revenue of 2.004 billion yuan, reflecting a year-on-year growth of 19.09%, and a net profit attributable to shareholders of 617 million yuan, which is a 20.66% increase compared to the previous year [2]. - Cumulatively, the company has distributed 4.818 billion yuan in dividends since its A-share listing, with 963 million yuan distributed over the last three years [3]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased to 262,400, a rise of 50.84%, while the average number of circulating shares per person decreased by 33.71% to 5,901 shares [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 28.2693 million shares, a decrease of 19.2669 million shares from the previous period [3].

Core Viewpoint - Vanke A's stock price has experienced a significant decline, with a year-to-date drop of 15.56% and a recent decrease of 2.08% on November 18, reflecting broader challenges in the real estate sector [1][2]. Financial Performance - For the period from January to September 2025, Vanke A reported a revenue of 161.39 billion yuan, a year-on-year decrease of 26.61%, and a net profit attributable to shareholders of -28.02 billion yuan, down 56.14% compared to the previous year [2]. - Cumulative cash dividends since the listing amount to 103.03 billion yuan, with 8.06 billion yuan distributed over the past three years [3]. Shareholder Structure - As of September 30, 2025, Vanke A had 493,200 shareholders, a decrease of 5.53% from the previous period, with an average of 19,704 circulating shares per shareholder, an increase of 5.85% [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 17.09 million shares to 172 million shares, while other major shareholders like Huatai-PB CSI 300 ETF and Southern CSI Real Estate ETF saw reductions in their holdings [3]. Market Activity - On November 18, Vanke A's stock traded at 6.13 yuan per share, with a total market capitalization of 73.135 billion yuan. The trading volume reached 5.92 billion yuan, with a turnover rate of 0.98% [1]. - The net outflow of main funds was 87.63 million yuan, with significant selling pressure observed, as large orders sold 1.41 billion yuan worth of shares [1]. Business Overview - Vanke A, established on May 30, 1984, and listed on January 29, 1991, primarily engages in real estate development and property services, with 80.17% of its revenue derived from real estate development and related asset management [1]. - The company operates within the real estate development sector, focusing on residential development, and is associated with various concepts including housing rental and REITs [1].

Core Viewpoint - New City Holdings has experienced a decline in stock price and revenue, indicating potential challenges in the real estate market [1][2]. Group 1: Stock Performance - On November 18, New City Holdings' stock price fell by 2.02%, reaching 14.58 CNY per share, with a total market capitalization of 32.887 billion CNY [1]. - The stock has increased by 21.91% year-to-date but has seen a decline of 2.61% over the last five trading days, 3.06% over the last twenty days, and 10.61% over the last sixty days [1]. Group 2: Financial Performance - For the period from January to September 2025, New City Holdings reported a revenue of 34.371 billion CNY, a year-on-year decrease of 33.34%, and a net profit attributable to shareholders of 0.974 billion CNY, also down by 33.05% [2]. - Cumulatively, the company has distributed 14.595 billion CNY in dividends since its A-share listing, with no dividends paid in the last three years [3]. Group 3: Shareholder Structure - As of September 30, 2025, the number of shareholders decreased by 12.34% to 43,200, while the average number of tradable shares per person increased by 14.07% to 52,155 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which reduced its holdings by 701,400 shares, and ICBC Value Selection Mixed A, which is a new shareholder with 15.7412 million shares [3].

Core Viewpoint - Guanghuan New Network's stock price has shown a decline of 9.50% year-to-date, with a recent increase of 2.02% on November 17, 2023, indicating potential volatility in the market [1] Financial Performance - For the period from January to September 2025, Guanghuan New Network reported a revenue of 5.479 billion yuan, a year-on-year decrease of 5.96%, and a net profit attributable to shareholders of 144 million yuan, down 60.23% year-on-year [2] - The company has distributed a total of 601 million yuan in dividends since its A-share listing, with 288 million yuan distributed in the last three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders for Guanghuan New Network increased to 145,000, up 6.84% from the previous period, while the average circulating shares per person decreased by 6.41% to 12,366 shares [2] - The top ten circulating shareholders include notable ETFs, with significant reductions in holdings for several of them, indicating potential shifts in investor sentiment [3] Market Activity - On November 17, 2023, Guanghuan New Network's stock traded at 13.15 yuan per share, with a total market capitalization of 23.638 billion yuan and a trading volume of 166 million yuan [1] - The stock has appeared on the "Dragon and Tiger List" twice this year, with the most recent occurrence on February 25 [1]