住建部副部长秦海翔：加强既有建筑的改造利用，努力把老房子、旧房子改造成好房子 金十数据5月20日讯，5月20日，住房城乡建设部副部长秦海翔在国新办发布会上表示，近日发布的《关 于持续推进城市更新行动的意见》是指导实施城市更新行动的纲领性文件。在任务安排上，《意见》部 署推进"好房子、好小区，好社区，好城区"四好建设，具有很强的系统性。"好房子"建设，主要是大力 建设安全、舒适、绿色、智慧的好房子。同时加强既有建筑的改造利用，努力把老房子、旧房子改造成 好房子，稳妥推进危险住房改造，加强老旧厂房、低效楼宇、传统商业设施等存量房屋改造利用。 （e 公司） ...

住建部副部长秦海翔：我国城市发展转向存量提质改造和增量结构调整并重 进入城市更新的重要时期 智通财经5月20日电，住房城乡建设部副部长秦海翔5月20日在国新办发布会上表示，2021年以来，每年 的政府工作报告都会对城市更新行动作出部署，提出明确要求。当前我国城市发展从大规模增量建设， 转向存量提质改造和增量结构调整并重，进入城市更新的重要时期，人民群众的需要从"有没有"转 向"好不好"。秦海翔表示，实施城市更新行动，就是要推进城市结构优化、功能完善、品质提升，推动 城市高质量发展。同时能够有效拉动投资和消费，扩大内需，不断满足人民群众美好生活需要。对于促 进经济增长、进一步保障和改善民生都具有十分重要的意义。 ...

证券研究报告·行业跟踪周报·房地产 房地产行业跟踪周报 新房二手房成交面积环比改善，持续推进城市 更新 增持（维持） 2025 年 05 月 19 日 证券分析师 房诚琦 执业证书：S0600522100002 fangcq@dwzq.com.cn 行业走势 -26% -21% -16% -11% -6% -1% 4% 9% 14% 19% 2024/5/20 2024/9/18 2025/1/17 2025/5/18 房地产 沪深300 相关研究 [Table_Tag] [Table_Summary] ◼ 投资要点 ◼ 上周（2025.5.12-2025.5.16）：上周房地产板块（中信）涨跌幅-0.5%,同期 沪深 300、万得全 A 指数涨跌幅分别为 1.1%、0.7%，超额收益分别为- 1.6%、-1.2%。29 个中信行业板块中房地产位列第 25。 ◼ （1）新房市场：上周 36 城新房成交面积 205.1 万方，环比+29.6%，同 比-12.5%。2025 年 5 月 1 日至 5 月 16 日累计成交 381.4 万方，同比- 2.4%。今年截至 5 月 16 日累计成交 3684.7 万方， ...

改造的方式，不是简单的管网更新、外立面整治或公共区域修缮，而是把原来的老楼拆掉，建设新的住 宅。居民只花了重新翻修的钱，就把原本设施老化严重的非成套住宅拆除重建，变成了可重新计算70年房 龄的新房。不仅如此，在不牺牲原有面积的基础上，厨房、卫生间也搬进了自家屋内，再也不用和别人共 用了。 5月15日，我国城市更新工作的顶层意见印发，关键词之一就是建立可持续的城市更新模式。 党的二十届三中全会提出，"建立可持续的城市更新模式和政策法规"。 央视新闻客户端消息，北京石景山区八角路小区22号楼正在进行更新改造。 今年全国两会上，住房城乡建设部提出，"鼓励地方探索居民自主更新改造老旧住宅"。 "自主更新"能否蹚出新路？ 0:00 / 4:10 北京石景山八角街道八角路小区西侧的22号楼，正在紧锣密鼓地推进拆除重建工作。眼下地基已打好，再 过一年多的时间，这片区域"最年轻"的新房——新22号楼就将拔地而起。 什么时候能交付、能不能早点交房、装修的一些细节会是什么样……虽然去年底就已经腾房搬离，但毕竟 是住了几十年的老宅，几个月来，依然住在附近的22号楼原住户，时不时就来工地看一看。最初的担心、 顾虑，已经逐步变为对未来 ...

Core Viewpoint - The central government emphasizes the continuous promotion of urban renewal as a strategic deployment to enhance urban high-quality development, modernize in a Chinese context, and meet the people's needs for a better life [1] Group 1: Urban Renewal Objectives - Urban renewal aims to optimize urban structure, improve functions, preserve cultural heritage, and enhance living quality, covering economic, social, and environmental aspects [1] - Urban health checks are essential for identifying issues in urban living environments and planning effective urban renewal strategies [1] Group 2: Implementation Strategies - The urban health check and urban renewal should be viewed as an integrated process, requiring coordination in resource allocation and work cycles [2] - The Ministry of Housing and Urban-Rural Development has outlined a framework for urban health checks across four dimensions: housing, community, street, and city, with 60 specific indicators to guide the process [2] Group 3: Adaptive Approaches - Urban health checks and renewal must be tailored to local conditions and adjusted dynamically based on regional differences and development stages [2] - The urban health check framework is designed to be flexible, allowing for the addition or modification of indicators as needed [2] Group 4: Technological Integration - The use of advanced information technology and big data analysis is crucial for identifying potential urban issues and supporting governance decisions [3] - Establishing an urban health check information platform will facilitate ongoing analysis, monitoring, and evaluation of urban renewal efforts [3]

1-4 月地产链数据联合解读 20250519 摘要 • 4 月房地产销售面积和金额同比小幅增长，优于预期，主要受益于低基数、 宏观流动性以及政策支持。淡季降幅在正常范围内，预示全年数据可能不 会太差。 • 房地产投资端仍处于去库存状态，但去年和今年一季度拿地面积增加，预 示下半年新开工数据有望修复，明年或将企稳，竣工数据预计保持平稳并 逐步向上。 • 房地产行业总体库存水平明显回落，尤其是一二线城市去化能力较强。房 价降幅收窄，环比下降城市减少，预计未来几个月环比大概率正增长，同 比与去年基本持平。 • 政府财政发力城中村改造和城市更新，资金投入超预期，推动市场修复。 龙头公司拿地积极，预计四季度周期底部加杠杆逻辑将增强市场稳定性。 • 建筑行业出口数据超预期，但投资、社融及基建投资增速有所减弱，电力 领域投资增速表现突出。4 月新增社融和中长期贷款下滑，与地产环比减 弱相对应。 Q&A 请简要概述 2025 年第一季度房地产行业的销售情况及其背后的原因。 2025 年第一季度房地产行业的销售情况总体表现良好，尤其是重点城市的销 售面积和销售金额均同比正增长。具体来看，40 个大中型重点城市的销售面积 同比 ...

Group 1: Core Insights - The report highlights four major industry opportunities at Computex 2025: smart computing & robotics, next-generation technology, future mobility, and B5G & space technology [4][11][25] - The solid-state battery industry is accelerating in China, with Guoxuan High-Tech leading the market by launching multiple new battery products, including the G-Guang solid-state battery [4][40][51] Group 2: Industry Trends - Computex 2025 will take place from May 20 to May 23 in Taipei, Taiwan, focusing on advanced communications, e-sports, consumer electronics, and industrial IoT [11][12] - Guoxuan High-Tech's G-Guang solid-state battery has an annual production capacity of approximately 12 GWh, with successful testing completed for over five clients [4][40][51] - The solid-state battery's energy density exceeds 300 Wh/kg and volume energy density exceeds 720 Wh/L, with a lifespan of 10 years or 500,000 kilometers [40][47] Group 3: Policy Tracking - The report emphasizes the importance of urban renewal policies, with a focus on improving living environments and urban development mechanisms by 2030 [4][6] - Recent policies support the solid-state battery industry, aiming to establish a complete industrial chain by 2030 through tax incentives and research subsidies [50][51] Group 4: Market Dynamics - The global stock market showed mixed performance, with technology, consumer discretionary, and financial sectors performing well [4] - The report identifies five key sectors for short-term focus: robotics, self-control, domestic demand, precious metals, and innovative pharmaceuticals [4]

2025 年 05 月 19 日 证券分析师 房诚琦 执业证书：S0600522100002 fangcq@dwzq.com.cn 证券研究报告·行业跟踪周报·房地产 房地产行业跟踪周报 新房二手房成交面积环比改善，持续推进城市 更新 增持（维持） 行业走势 《公积金贷款利率下调，市场有望逐 步企稳》 2025-05-13 《三部委发布会点评：公积金贷款利 率下调，货币政策支持行业止跌回 稳 》 2025-05-07 东吴证券研究所 1 / 17 请务必阅读正文之后的免责声明部分 [Table_Tag] [Table_Summary] ◼ 投资要点 ◼ 上周（2025.5.12-2025.5.16）：上周房地产板块（中信）涨跌幅-0.5%,同期 沪深 300、万得全 A 指数涨跌幅分别为 1.1%、0.7%，超额收益分别为- 1.6%、-1.2%。29 个中信行业板块中房地产位列第 25。 ◼ （1）新房市场：上周 36 城新房成交面积 205.1 万方，环比+29.6%，同 比-12.5%。2025 年 5 月 1 日至 5 月 16 日累计成交 381.4 万方，同比- 2.4%。今年截至 5 月 16 ...

Investment Rating - The industry rating is "Outperform the Market" [8] Core Viewpoints - The report highlights the importance of urban renewal actions initiated by the government, emphasizing the need for existing building renovations and infrastructure improvements, with significant progress expected by 2030 [3][13] - Short-term factors include the pressure for stable growth, the emphasis on stabilizing the real estate market, and the gradual alleviation of risks associated with major real estate companies, which is beneficial for the building materials sector [3][13] - Long-term perspectives suggest that the opening of the interest rate reduction channel in Europe and the U.S. will provide more room for monetary and fiscal policies in China, with expectations for policies to stabilize the real estate market and improve housing loan conditions [3][13] Summary by Sections Recent Developments - The report discusses various local government initiatives aimed at improving housing quality and supporting home purchases, including policies in Shenzhen, Nanjing, Wuhan, and other cities [3][13] - The report notes a 28.7% year-on-year increase in residential transactions in Shenzhen in April, indicating a potential recovery in the housing market [3][13] High-Frequency Data - As of May 16, 2025, the average price of bulk P.O 42.5 cement in China is 386.2 CNY/ton, showing a 0.8% decrease from the previous week but a 10.2% increase year-on-year [4][14] - The average price of glass (5.00mm) is 1260.0 CNY/ton, reflecting a 0.8% decrease from the previous week and a 25.6% decrease year-on-year [4][21] Sector Review - The report indicates that the Shanghai Composite Index rose by 0.76%, while the building materials sector index fell by 0.24% [5][53] - Among sub-sectors, fiberglass manufacturing saw a 3.07% increase, while cement manufacturing experienced a 1.21% decline [5][53] Investment Recommendations - The report suggests focusing on three main investment lines: high-quality companies benefiting from stock renovations, undervalued stocks with long-term potential, and leading cyclical building material companies showing signs of bottoming out [6][68]

21世纪经济报道记者李莎 北京报道 "总的来看，在各项促进房地产市场止跌回稳政策作用下，4月份房地产市场基本稳定。"5月 19日，在国新办新闻发布会上，国家统计局新闻发言人、国民经济综合统计司司长付凌晖在回应21世纪经济报道记者提问时表 示。 5月19日，国家统计局发布4月房地产数据。当月70个大中城市中，一、二线城市新建商品住宅销售价格环比持平，三线城市略 有下降。各线城市二手住宅销售价格环比均有不同程度回调。但同比来看，一、二、三线城市商品住宅销售价格降幅均持续收 窄。 4月受季节性因素等影响，市场销售有所转淡，但前4月新房市场整体基本平稳。1—4月新建商品房销售面积同比下降2.8%，降 幅比1—3月收窄0.2个百分点，销售额同比下降3.2%。截止到4月末，商品房待售面积已连续两个月减少。 付凌晖表示，未来居民对绿色、智能、安全的好房子需求不断扩大，老旧小区改造升级、房地产建设提质增效前景广阔。但也 要看到，当前房地产市场总体仍在调整转型过程中，刚性和改善性需求仍待进一步释放，部分地区房地产去化压力较大，促进 房地产回稳仍需要继续努力。 市场热度有所回落 国家统计局数据显示，4月70个大中城市中，各线城市 ...