南财智讯1月30日电，世联行发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润 为-48,000万元—-72,000万元，即净亏损4.80亿元—7.20亿元；预计2025年全年归属于上市公司股东的扣 除非经常性损益的净利润为-64,000万元—-43,000万元。报告期内，公司预计归属于上市公司股东的净 利润亏损约48,000万元-72,000万元。对公司净利润亏损产生较大影响的事项主要包括：（1）公司主营 业务收入下降，业务毛利随之减少，影响当期利润。（2）公司积极采取各项措施回收应收款项，但根 据《企业会计准则》和公司会计政策的有关规定，基于谨慎性原则，公司对减值迹象明显的应收款项进 行减值测试，预计计提预期信用损失约11,000万元-18,000万元。（3）根据《企业会计准则》和公司会 计政策的有关规定，基于谨慎性原则，公司对商誉、房产及金融资产进行减值测试，预计计提相关的资 产减值损失约19,000万元-32,000万元，其中金融资产预计减值损失约9,000万元-16,000万元，此项为非 经常性损益项目。 ...

Market Overview - On January 29, the real estate service sector rose by 4.56% compared to the previous trading day, with TeFa Service leading the gains [1] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] Stock Performance - TeFa Service (300917) closed at 42.60, up 10.13% with a trading volume of 220,900 shares [1] - Zhujiang Shares (600684) closed at 4.92, up 10.07% with a trading volume of 824,500 shares [1] - Wo Ai Wo Jia (000560) closed at 3.33, up 9.90% with a trading volume of 3,395,100 shares [1] - Other notable performers include Shilianhang (002285) up 5.13% and Zhaoshang Jiyu (001914) up 3.50% [1] Capital Flow - The real estate service sector saw a net inflow of 461 million yuan from institutional investors, while retail investors experienced a net outflow of 179 million yuan [2] - The main capital flow data indicates that Wo Ai Wo Jia had a net inflow of 257 million yuan from institutional investors, but a net outflow of 121 million yuan from retail investors [3] - Zhujiang Shares also had a significant net inflow of 121 million yuan from institutional investors, with a net outflow of 70 million yuan from retail investors [3]

投顾分析 我爱我家01月29日主力（dde大单净额）净流入2.54亿元，涨跌幅为9.90%，主力净量(dde大单净额/流通股) 为3.41%，两市排名14/5185。 投顾分析 我爱我家今日主力净量为正，且值较大，表明主力大幅流入，主动买入明显多于主动卖出。我爱我家今日 大涨9.90%，主力拉升明显。 我爱我家今日主力净量为正，且值较大，表明主力大幅流入，主动买入明显多于主动卖出。我爱我家今日 大涨9.90%，主力拉升明显。 我爱我家01月29日主力（dde大单净额）净流入2.54亿元，涨跌幅为9.90%，主力净量(dde大单净额/流通股) 为3.41%，两市排名14/5185。 ...

Group 1 - Beike-W (02423.HK) saw an afternoon increase of over 8%, specifically rising by 8.49% to reach HKD 52.4 [1] - The trading volume for Beike-W amounted to HKD 803 million [1]

Core Viewpoint - Beike-W (02423) has seen a significant increase in stock price, rising over 8% to HKD 52.4, with a trading volume of HKD 803 million, indicating positive market sentiment towards the company [1] Group 1: Market Performance - The second-hand market is showing stability in both volume and price, which is expected to positively impact Beike's performance [1] - In the first 18 days of January 2026, Beike recorded a 33% year-on-year increase in second-hand property transactions across 79 cities, suggesting a rebound in market activity [1] - Excluding market share growth, the current transaction volume corresponds to an annualized second-hand transaction volume of 860 million square meters, a 24% increase compared to 2025, aligning with the annualized figure of 840 million square meters from Q4 2024 [1] Group 2: Share Buyback Activity - Beike has been actively repurchasing its shares, spending approximately USD 300,000 to buy back around 497,700 shares on January 26, 23, and 22, and USD 350,000 for 58,910 shares on January 20 [1] - This consistent buyback activity indicates the company's confidence in its stock value and future prospects [1]

Group 1 - The core viewpoint of the article highlights that Beike-W (02423) has seen a significant increase in stock price, rising over 8% to HKD 52.4, with a trading volume of HKD 803 million [1] - GF Securities reports that the stability in the second-hand market positively impacts Beike's performance, noting a significant rebound in second-hand transaction volume in early 2026, with a 33% year-on-year increase in the first 18 days of January across 79 cities [1] - The annualized second-hand transaction volume is projected to reach 860 million square meters in 2026, reflecting a 24% increase compared to 2025, indicating a potential "small spring" in the market for 2026 [1] Group 2 - Beike has been actively repurchasing its shares, spending approximately USD 3 million on January 26 to buy back about 497,700 shares, and similar amounts on previous days for additional share repurchases [1] - The company has consistently engaged in share buybacks, with multiple transactions recorded in January, indicating a strategic move to enhance shareholder value [1]

Market Overview - The Shanghai Composite Index decreased by 4.09 points, a decline of 0.1%, closing at 4147.15 points with a trading volume of 904.204 billion [1] - The Shenzhen Component Index increased by 2.07 points, a rise of 0.01%, closing at 14344.96 points with a trading volume of 1112.338 billion [1] - The ChiNext Index fell by 1.56 points, a decrease of 0.05%, closing at 3322.0 points with a trading volume of 512.53 billion [1] - The CSI 300 Index dropped by 4.49 points, a decline of 0.1%, closing at 4713.5 points with a trading volume of 531.63 billion [1] Industry Performance - The top five performing industries were: - Precious Metals with a rise of 7.29% - Cultural Media with an increase of 4.19% - Mining Industry up by 3.23% - Real Estate Services up by 2.92% - Real Estate Development up by 2.15% [1] - The industries with the largest declines included: - Electronic Chemicals down by 1.69% - Power Equipment down by 1.28% - Grid Equipment down by 1.19% - Wind Power Equipment down by 1.14% [1]

Group 1 - The Nanjing municipal government held a spring symposium for key foreign-funded enterprises, focusing on sharing new opportunities for open cooperation and expanding mutually beneficial spaces [1] - Notable multinational companies and industry leaders participated, including Dassault Systems, GE Healthcare, Siemens Healthineers, BMW Group, and others, who shared their development status and industry trends [1] - The atmosphere at the event was lively, with participants expressing confidence in Nanjing's solid industrial foundation, rich educational resources, and significant innovation advantages, positioning it as a fertile ground for investment [1] Group 2 - Mayor Li Zhongjun highlighted Nanjing's positive development trends and vibrant business environment, emphasizing the city's commitment to advancing industrial strength and building a modern industrial system centered on advanced manufacturing [2] - The city aims to create numerous investment opportunities and cooperation spaces, encouraging foreign enterprises to invest and deepen their engagement in Nanjing [2] - Nanjing is focused on optimizing its market-oriented, legal, and international business environment, aiming to enhance service mechanisms for enterprises and boost foreign investment confidence [2]

Investment Rating - The industry rating is "Positive," indicating that the overall return of the industry is expected to exceed the CSI 300 Index by more than 5% in the next six months [9]. Core Insights - The real estate sector is experiencing a mixed performance, with the Shanghai Composite Index and Shenzhen Component Index rising by 0.18% and 0.09% respectively, while the Shenwan Real Estate Index fell by 0.93% [3]. - The first land auction of 2026 in Ningbo includes four plots in the Yinzhou District, with a total starting price of over 2.916 billion yuan and a total area of 109,200 square meters [5]. - The individual stock performance within the real estate sector shows significant gains for companies like Shunfa Hengye (7.59%) and Jingneng Real Estate (4.52%), while companies like Shangshi Development (-4.83%) and Rongfeng Holdings (-4.76%) faced declines [4]. Market News - Ningbo has officially launched the auction for four plots in the Baihe Future Community, with a total construction area of approximately 300,000 square meters and a starting floor price of 9,723 yuan per square meter [5]. - Financial Street Holdings completed the issuance of its first medium-term notes for 2026, with a total planned and actual issuance amount of 1.4 billion yuan, at an interest rate of 3.05% [6]. - China Overseas Macro Group announced the issuance of corporate bonds not exceeding 5 billion yuan, with the current issuance scale capped at 1 billion yuan [7].

Core Viewpoint - Matrix Co., Ltd. (301365.SZ) expects a net profit attributable to shareholders of 58 million to 80 million yuan for the year 2025, representing an increase of 72.12% to 137.40% compared to the previous year. The net profit after deducting non-recurring gains and losses is projected to be 48 million to 70 million yuan, reflecting a significant increase of 358.71% to 568.95% year-on-year [1]. Group 1: Performance Expectations - The company anticipates a substantial increase in net profit for 2025, with projections indicating a rise of up to 137.40% compared to the previous year [1]. - The expected net profit after excluding non-recurring items shows an even more dramatic increase, suggesting strong operational performance [1]. Group 2: Reasons for Performance Changes - The transition of China's real estate market from rapid growth to stable development continues to support the importance of residential real estate in driving economic growth and improving living standards [1]. - The company has focused on brand building and market expansion, which has led to increased business revenue and optimized team configuration [1]. - Strict cost control measures have been implemented, contributing to the increase in net profit compared to the previous year [1]. - Enhanced management of accounts receivable has accelerated collection speeds and effectively controlled bad debt losses [1]. - Non-recurring gains for 2025 include income from cash management, reversals of impairment provisions for receivables, and one-time share-based payment expenses [1].