Core Insights - Shenzhen Holdings (00604.HK) announced significant business progress for Q4 2025, highlighting achievements in both urban comprehensive operations and real estate development. Urban Comprehensive Operations - The company has received recognition for its operational capabilities, with its subsidiary, Deep Industry Operations, being awarded "2025 Leading Brand in Property Service Quality" and ranking 15th in the "2025 Guangdong-Hong Kong-Macao Greater Bay Area Property Service Power Top 100" list, the highest among state-owned enterprises in Shenzhen [2] - Deep Industry Operations has successfully introduced high-end retail brands and innovative concepts, such as the first "Shanghai Tang" in South China and a flagship store featuring humanoid robots, showcasing a dual breakthrough in luxury and technology [3] - The company has accelerated its asset-light expansion strategy, successfully securing commercial projects like the China Merchants Bank Global Headquarters and signing technical service agreements for serviced apartments, enhancing its project reserve and market recognition [4] Real Estate Development - The company has actively adjusted its marketing strategies to promote sales amid market fluctuations, achieving an unaudited contract sales amount of approximately 3.473 billion RMB and a sales area of about 189,663 square meters in Q4 2025 [5] - The company has maintained strict control over project timelines to ensure high-quality delivery, with several projects, including Shanghai Shen'an Shangju and Shenzhen Shenye Yinying Tower, successfully completed and delivered on schedule [5] - In 2025, the company completed 16 phased projects with a total construction area of approximately 1.545 million square meters, continuing to provide high-quality products to the market [5]

Sales Performance - In Q3 2025, the company reported an unaudited contract sales amount of approximately 3.025 billion RMB, with a contract sales area of about 128,700 square meters [1] - For the first three quarters of 2025, the total unaudited contract sales reached approximately 9.838 billion RMB, representing a 24.0% increase year-on-year, with a total sales area of about 428,200 square meters, up 36.3% year-on-year [1] - The average selling price per square meter was approximately 22,973 RMB [1] Property Upgrade and Innovation - The company is enhancing its commercial competitiveness and asset attractiveness through continuous property upgrades and business model innovation [2] - A cinema area asset upgrade is underway at Deep Industry Shangcheng Commercial, with plans to launch a new concept garden "The Gardens" that integrates global cuisine and high-end cinema functions by early next year [2] Urban Comprehensive Operation - The company received recognition for its operational strength, being awarded multiple honors including "2025 Leading Brand in Property Service Quality" and "2025 Excellent Brand in Industrial Property Service" [3] - Deep Industry Shangcheng has successfully attracted 13 Fortune 500 companies after upgrading its office space and has been designated as a "Foreign Business Service Point" [3] - The company is expanding its operational projects, with the first community commercial product line project "Deep Industry Shiji" set to launch in Huafu Village [3] Technology Industry Investment Services - The subsidiary Jinghua Company has made significant progress in expanding its client base and advancing cooperation projects, with a notable improvement in production management levels [4] - The agricultural business has seen a substantial increase in sales, with agricultural product sales growing over 160% year-on-year [4] - The company is accelerating the construction of a new development model, focusing on urban asset management, comprehensive operations, and technology industry investment services to ensure high-quality development [4]