Group 1: Real Estate Market Trends - In September 2025, the new residential property prices in first-tier cities decreased by 0.7% year-on-year, with the decline narrowing by 0.2 percentage points compared to the previous month [1] - The second-hand residential property prices in first-tier cities fell by 3.2% year-on-year, with the decline narrowing by 0.3 percentage points compared to the previous month [2] - In second and third-tier cities, new residential property prices decreased by 2.1% and 3.4% year-on-year, respectively, with both declines narrowing by 0.3 percentage points [1] Group 2: Land Supply and Transactions - Shanghai has released the ninth batch of residential land for sale, including 9 plots across various districts, totaling an area of 29.58 hectares, with transactions expected to begin in late November [3] - Shenzhen recorded a weekly transaction of 1,696 second-hand homes, marking a 39.1% increase and setting a new six-month high, driven by policy support and seasonal demand [4] Group 3: Corporate Actions - The controlling shareholder of Shen Shen Real Estate A plans to reduce its stake by up to 1% of the total share capital, amounting to a maximum of 10.1166 million shares, within three months after 15 trading days [5]

Group 1: Real Estate Market Trends - In September 2025, the new residential property prices in first-tier cities decreased by 0.7% year-on-year, with the decline narrowing by 0.2 percentage points compared to the previous month [1] - The second-hand residential property prices in first-tier cities fell by 3.2% year-on-year, with the decline also narrowing by 0.3 percentage points from the previous month [2] - In September, Shanghai saw an increase of 5.6% in new residential property prices, while Beijing, Guangzhou, and Shenzhen experienced declines of 2.6%, 4.1%, and 1.8% respectively [1] Group 2: Land Supply and Transactions - Shanghai released its ninth batch of residential land for sale, including 9 plots across various districts, totaling an area of 29.58 hectares, with trading activities set to begin in late November [3] - Shenzhen recorded a significant increase in second-hand home transactions, with 1,696 units sold in the week of October 14-20, marking a 39.1% increase and the highest weekly total in six months [4] - The surge in transactions in Shenzhen is attributed to policy support and the release of pent-up demand during the traditional peak season [4] Group 3: Corporate Actions - The controlling shareholder of Shen Shen Real Estate A plans to reduce its stake by up to 1% of the company's total shares, amounting to a maximum of 10.12 million shares, within three months after a 15-day trading period [5]

9月份，一线城市二手住宅销售价格同比下降3.2%，降幅比8月份收窄0.3个百分点。二、三线城市二手 住宅销售价格同比分别下降5.0%和5.7%，降幅分别收窄0.2个百分点和0.3个百分点。 "9月份，新房市场表现相对较好，北京、上海新房价格环比分别上涨0.2%、0.3%，上海更是实现同比 5.6%的显著增长，核心区优质改善房源入市与外围区域限购放松成为关键支撑。"张波分析称，上海下 调存量房贷利率、北京优化公积金提取范围等相关政策，促进改善性需求释放。 10月20日，国家统计局发布数据显示，2025年9月份，70个大中城市中，各线城市商品住宅销售价格环 比下降，同比降幅继续呈收窄态势。 58安居客研究院院长张波对《证券日报》记者表示，2025年"金九"，二手市场成交量稳定，新房结构性 分化持续。房价同比降幅继续收窄，表明前期政策效果开始逐步显现，市场长期下行压力有所缓解。 从环比看，9月份，一线城市新建商品住宅销售价格环比下降0.3%，降幅比8月份扩大0.2个百分点，其 中，北京和上海分别上涨0.2%和0.3%，广州和深圳分别下降0.6%和1.0%。二线城市新建商品住宅销售 价格环比下降0.4%，降幅扩大0. ...

三线城市新建商品住宅销售价格环比下降0.4%，降幅扩大0.1个百分点。 8月份，一线城市二手住宅销 售价格环比下降1.0%，降幅与上月相同。其中，北京、上海、广州和深圳分别下降1.2%、1.0%、0.9% 和0.8%。二线城市二手住宅销售价格环比下降0.6%，降幅扩大0.1个百分点。 三线城市二手住宅销售价格环比下降0.5%，降幅与上月相同。 二、各线城市商品住宅销售价格同比降 幅总体继续收窄 8月份，一线城市新建商品住宅销售价格同比下降0.9%，降幅比上月收窄0.2个百分 点。其中，上海上涨5.9%，北京、广州和深圳分别下降3.5%、4.3%和1.7%。 2025年8月份，70个大中城市中，各线城市商品住宅销售价格环比下降，同比降幅总体继续收窄。 一、各线城市商品住宅销售价格环比下降 8月份，一线城市新建商品住宅销售价格环比下降0.1%，降幅 比上月收窄0.1个百分点。其中，上海上涨0.4%，北京、广州和深圳分别下降0.4%、0.2%和0.4%。 二线城市新建商品住宅销售价格环比下降0.3%，降幅收窄0.1个百分点。 二、三线城市新建商品住宅销售价格同比分别下降2.4%和3.7%，降幅分别收窄0.4个和0. ...