公告显示，佑驾创新计划不时在香港联合交易所有限公司的公开市场购回公司H股股份，回购金额不超 过2亿港元。 董事会认为，购回股份将显示出本公司对其自有业务预期及前景的信心，及最终令本公司受益并且为其 股东创造价值。董事会相信，本公司目前的财务资源将让其能够实行购回股份并同时维持稳健的财务状 况。 与公司回购形成呼应的是，董事长同步加码增持。 继2026年1月5日增持5万股后，公司董事长刘国清1月6日再度在公开市场购入5万股本公司H股，每股平 均价格约13.94港元。两日累计增持10万股，以实际行动与公司发展深度绑定。 作为核心决策者，董事长的连续增持，无疑向市场传递了对公司当前发展状态的认可，以及对未来成长 潜力的充足信心。 此外，2026年1月5日，佑驾创新大股东、执行董事刘国清、杨广、周翔、王启程，以及个人股东闫胜 业、吴建鑫自愿延长所持股份限售期，承诺不会以任何方式直接或间接减持公司该等股份。 业内分析指出，佑驾创新近期一系列"真金白银"的动作，将基于扎实的业绩韧性与清晰的发展前景，加 速形成"信心修复—价值回归—资金流入"的良性循环，也可以视为公司兑现长期价值的决心。 2026年1月6日，佑驾创新(24 ...

Core Viewpoint - The real estate industry in China is transitioning from a high-debt, high-leverage model to a new phase focused on "survival quality" and "new model exploration," indicating a shift from mere scale expansion to quality and service enhancement [1] Group 1: Market Consensus and Divergence - There is a consensus that the market has largely bottomed out, with limited room for further decline due to supportive policies like "guaranteeing delivery" and reduced down payments [2] - Divergence is evident among cities, with first-tier and strong second-tier cities showing resilient demand, while third and fourth-tier cities face high inventory and weak demand [2] - Financially stable state-owned and quality private enterprises are gaining market share, while heavily indebted firms struggle for survival, leading to increased industry consolidation [2] Group 2: Challenges and Solutions - The execution of supportive policies faces delays, with local fiscal pressures hindering timely implementation of incentives, and buyer confidence remains low, complicating inventory reduction efforts [3] - Inventory clearance is a significant challenge, especially in third and fourth-tier cities where the clearance cycle exceeds 24 months, necessitating innovative approaches from local governments [3] Group 3: Strategic Transformation - Real estate companies are restructuring strategies around reducing debt, ensuring cash flow, improving efficiency, and enhancing product quality, transitioning from developers to operators and service providers [4] - Companies like Longfor and China Jinmao are focusing on financial stability and optimizing land reserves in core cities to mitigate market risks [4] - Enhancing operational efficiency through asset divestment, light asset operations, and digital optimization is a priority for firms aiming to improve overall effectiveness [4] Group 4: Product Quality as a Competitive Focus - The industry is entering a phase where product quality becomes the ultimate competitive focus, with various companies establishing robust product systems to enhance living quality and sustainability [5] - The collaboration between policy and market dynamics is expected to strengthen, leading to a healthier and more sustainable real estate model that prioritizes quality over rapid growth [5]

转瞬2024年已临近尾声，回顾就不过多赘述 下周一（11月25日）安排了一场线上会议 来跟大家聊聊，对于2025年的展望 比如2025年度会是怎样的状态？ 新的年度，信心修复又会有怎样效果？ 具体思路应该是防御还是积极主动？ 债市 、 楼市 、 汇率 应该怎么判断？ 海外市场 会有哪些变化？ 贵金属 、 能源 又是怎样的看法？ 名额有限，欲报从速！ VIP 专享,非专享客户请联系服务人员获取 VIP 名额 P 言扫码即刻了解详 具体参与方式请扫描海报二维码，联系官方工作人员。 东北证券诚邀您共同 "拨云见日" 线上实时互动 第四季度 · 特邀会议 00 全球投资决策风向标 11/25 周一 19:00 ...