登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002968 证券简称：新大正 公告编号：2025-031 公司后续将根据市场情况继续实施本次回购计划，并在回购期间根据相关法律、法规和规范性文件的规 定及时履行信息披露义务。敬请广大投资者注意投资风险。 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 新大正物业集团股份有限公司（以下简称"公司"）于2025年4月27日召开第三届董事会第十三次会议和 第三届监事会第十一次会议，审议通过了《关于公司回购股份方案的议案》，同意公司使用自有资金以 集中竞价交易方式回购部分公司已在境内发行的人民币普通股（A 股）股票，用于后续实施员工持股计 划或股权激励。拟用于回购资金总额不低于人民币1,000万元、不超过人民币2,000万元，回购价格不超 过人民币13.96元/股，2024年度权益分派实施后相应调整为不超过13.78元/股。具体回购股份数量以回 购期限届满时实际回购股份数量为准。具体内容详见公司在《证券时报》《上海证券报》和巨潮资讯网 （www.cninfo.com.cn）披露的相关公告。 根据《上市公司股 ...

Summary of the Conference Call for Binjiang Service Company Overview - **Company**: Binjiang Service - **Industry**: Property Management Key Financial Metrics - **Gross Margin**: 22.5%, down 3.1 percentage points year-on-year, primarily due to a decline in non-owner value-added services [2][3] - **Net Profit Margin**: 15.1%, maintaining an industry-leading position [2][3] - **Revenue**: 20.25 billion, a year-on-year increase of 22.7%, leading the industry in growth [3] - **Operating Cash Flow**: Net inflow of 4 billion, with cash covering net profit at 1.3 times [4] - **Total Cash and Deposits**: 36.3 billion, up 23.5% year-on-year [4] - **Dividend Payout Ratio**: Increased to 70%, indicating a stable and sustainable dividend income trend [5] Cost Control and Efficiency - **Management Expense Ratio**: Decreased by 0.7 percentage points to 2.3% [6] - **Sales Expense Ratio**: Remained stable at 0.6% [6] - **Property Management Revenue**: 16 billion, up 23.5%, accounting for 46.2% of total revenue with a gross margin of 18.2% [7] Business Segment Performance - **5S Value-Added Services Revenue**: 6.5 billion, up 32%, accounting for 37% of total revenue with a gross margin of 26.1% [7] - **Third-Party Expansion**: Contributed to 55% of revenue with a growth rate of 26.8% [7] - **Property Fee Collection Rate**: Increased by 0.55 percentage points, with an average property fee of 4.2 yuan per month per square meter [7] Strategic Focus and Future Plans - **Regional Strategy**: Focus on deepening presence in Hangzhou and other high-potential areas [8] - **Digital Transformation**: Optimization of business processes, pilot projects for AI energy management, and seamless access technologies [9][10] - **Market Expansion**: Plans to increase the proportion of second-hand housing market involvement and aim for a 60% share of third-party projects by 2027 [11] Risk Management - **Property Fee Decline**: Company plans to enhance transparency regarding property fees and communicate openly with homeowners to mitigate risks [12] - **Impact of Social Security Policies**: Limited impact due to low outsourcing ratio; most employees are in-house [12] Market Position and Growth Outlook - **Mother Company's Land Acquisition Strategy**: Expected to support Binjiang Service's growth and maintain double-digit growth in the coming years [13] - **Market Risks**: Cautious approach in cities with high pressure; overall risk in Hangzhou remains low [14][16] Additional Insights - **Value-Added Services**: Focus on first-hand and second-hand housing collaboration, with significant growth expected in second-hand sales [18] - **Soft and Hard Decoration Services**: Targeting high-margin services, with plans to expand into the ToC market [18] - **Entry into Hong Kong Stock Connect**: A key goal for 2025, with preparations underway to enhance company visibility and value in the capital market [17]

Core Viewpoint - The article highlights the ongoing special rectification actions in the property service sector across Jiangsu province, focusing on addressing prominent issues in property management and ensuring compliance with service contracts [1][2][3][4]. Group 1: Issues Identified in Property Management - Multiple residential communities in Jiangsu have reported inadequate property service performance, including failure to disclose public revenue and poor maintenance of common areas [1][2][3][4]. - Specific complaints include unregulated public revenue management, lack of transparency in service fees, and insufficient maintenance of community facilities [1][2][3][4]. Group 2: Regulatory Actions Taken - Local housing and urban-rural development bureaus have conducted interviews with property service company leaders and issued rectification notices, mandating compliance with service contracts and timely public disclosures [1][2][3][4]. - In cases of severe misconduct, such as unauthorized access to vacant units, property management companies have been classified as seriously untrustworthy and reported to higher authorities [2][3]. Group 3: Ongoing Improvements and Compliance - Property service companies are required to rectify identified issues within specified deadlines, including cleaning up community areas and improving the management of public facilities [2][3][4]. - The article emphasizes the need for property service companies to learn from these cases and enhance service quality to protect homeowners' rights [4].

Group 1 - The Hang Seng Index opened lower and is currently down 0.3%, with significant declines in the Hang Seng Utilities, Technology, ESG Enhanced, and Real Estate sectors [1] - The Hang Seng Technology sector has seen a slight recovery, currently down 0.36%, with notable declines in stocks such as Hua Hong Semiconductor down 4.11%, and Tongcheng Travel down 1.8% [3] - The Hang Seng Real Estate sector is also down 0.44%, with stocks like Wharf Real Estate down 0.78% and China Resources Land down 0.82% [3] Group 2 - The domestic banking sector has experienced a sharp increase, currently up 0.82%, with Chongqing Rural Commercial Bank rising by 2.25% and Agricultural Bank up 2.12% [3] - Other banks such as Postal Savings Bank, China Construction Bank, and Bank of China have also shown slight increases [3]

公司表示后续将依据市场情况推进回购计划，并按规定及时履行信息披露义务，提醒投资者注意投资风 险。 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 拟用于回购资金总额不低于1000万元、不超过2000万元，回购价格不超过13.78元/股（2024年度权益分 派实施后调整后价格）。 根据相关规定，公司需在回购期间每月前三个交易日内公告截至上月末的回购进展。截至2025年8月31 日，公司尚未实施本次回购。 点击查看公告原文>> 登录新浪财经APP 搜索【信披】查看更多考评等级 责任编辑：小浪快报 新大正物业集团股份有限公司于2025年4月27日召开相关会议，审议通过回购股份方案，拟使用自有资 金以集中竞价交易方式回购部分A股股票，用于后续实施员工持股 ...

苏新服务(02152)发布公告，(i)崔晓冬先生因其工作安排，辞任执行董事兼董事长，自2025年9月2日起 生效;(ii)董事会推举公司执行董事兼总经理陈明栋先生主持自2025年9月2日起至新任董事长任职生效之 日止期间内举行的所有股东大会;及(iii)建议委任王华先生为执行董事。 ...

Core Viewpoint - UBS has downgraded the rating of Poly Property (06049) to "Neutral" as the stock price has reached the target price set by the bank, indicating that the current risk-reward level has become average [1] Group 1: Financial Performance - The latest target price for Poly Property has been slightly raised from HKD 36 to HKD 36.5 [1] - UBS has observed an increase in the area under management (GFA) contract cancellations in the first half of the year, suggesting that the company may need to terminate some projects with declining cash recovery rates or low profitability quality [1] Group 2: Industry Dynamics - The increase in contract cancellations is attributed to intensified competition in the property management industry and a general decline in property management fees [1] - If the trend of cancellations continues, it will exert pressure on revenue growth [1] Group 3: Revenue Forecast - UBS has revised down its revenue forecasts for 2025 to 2027 by 2% to 5% [1] - However, it is believed that reductions in sales and administrative expenses will offset the impact of the revenue decline [1]

Group 1 - Goldman Sachs has downgraded Sunac Services (01516) average profit forecasts for 2025 to 2027 by 55% and core earnings estimates by 11% [1] - The target price has been reduced from HKD 1.78 to HKD 1.48, and the rating has been lowered from "Neutral" to "Sell" [1] - The group's net profit performance in the first half of the year was weak, with a 4 percentage point decline in gross profit margin for property management services compared to the same period last year [1] Group 2 - Management has become more cautious regarding revenue recognition from services provided to residential owners, leading to increased provisions for impairment [1] - Rising maintenance and repair costs due to the expiration of warranty periods for projects delivered in recent years have contributed to an increase in third-party receivables impairment [1] - The outlook suggests that due to a significant number of low-quality projects delivered by its affiliated developer, Sunac China (01918), profit margins may take another year to stabilize, and impairment risks will take time to ease [1]

Group 1 - UBS downgraded the rating of Poly Property (06049) to "Neutral" as the stock price has reached the target price set by the bank, indicating that the current risk-reward level has become average [1] - The new target price has been slightly raised from HKD 36 to HKD 36.5 [1] - The bank observed an increase in the termination of managed area (GFA) contracts in the first half of the year, suggesting that the company may have to terminate some projects with declining cash recovery rates or low profitability quality due to intensified competition in the property management industry and a general decline in management fees [1] Group 2 - If the termination situation continues to increase, it will exert pressure on revenue growth [1] - The bank has revised down its revenue forecasts for 2025 to 2027 by 2% to 5%, but believes that a reduction in selling and administrative expenses will offset the impact [1]

Summary of Key Points Core Viewpoints - The IPO market on the Beijing Stock Exchange is accelerating, with increased participation in new stock offerings, while the Shanghai and Shenzhen markets are experiencing a contraction in new stock issuance [2] - The performance of various industries is diverging significantly, with improvements in profitability for the float glass sector, while coal and livestock industries are expected to maintain negative profit growth [3] - Market sentiment is optimistic, with a notable increase in the number of rising stocks in the Shanghai and Shenzhen markets, indicating a sustained increase in risk appetite among investors [4] Company Research - **Changsha Bank**: The bank reported a revenue of 13.2 billion yuan for the first half of 2025, a year-on-year increase of 1.6%, and a net profit of 4.3 billion yuan, up 5.1% year-on-year. The annualized return on equity was 12.6%, slightly down by 0.6 percentage points [8] - **Suzhou Bank**: The bank achieved a revenue of 6.5 billion yuan, a 1.8% increase year-on-year, with a net profit of 3.13 billion yuan, up 6.2% year-on-year. The annualized return on equity was 12.34%, down by 1 percentage point [9] - **China Energy Construction**: The company reported a revenue of 292.76 billion yuan for the first half of 2025, a 2.7% increase year-on-year, but a net profit decline of 13.8% to 5.43 billion yuan [22] - **China Chemical**: The company achieved a revenue of 90.72 billion yuan, a slight decrease of 0.3% year-on-year, but a net profit increase of 9.3% to 3.1 billion yuan [23] Industry Research - **Magnesium Oxide**: The application potential of magnesium oxide in rare earth metallurgy is promising, with various grades affecting production efficiency and cost [7] - **Phosphate Fertilizers**: The company reported stable revenue growth in the phosphate fertilizer sector, driven by an improved product mix and favorable industry conditions [11] - **Carbon Fiber**: The company anticipates an increase in net profit due to rising sales volumes in the carbon fiber sector, with projections for 2025-2027 showing significant growth [12] - **Specialty Gases**: Despite a decline in profitability due to increased competition, the demand for specialty gases remains strong, supported by new capacity releases [13]