2025.09.19 （一）在本市新购住房，且该住房属于家庭第一套住房的，暂免征收房产税。 （二）在本市新购且属于家庭第二套及以上住房的，合并计算的家庭全部住房面积（指住房建筑面积， 下同）人均不超过60平方米（即免税住房面积，含60平方米）的，新购的住房暂免征收房产税；人均超 过60平方米的，对属新购住房超出部分的面积，按暂行办法的规定计算征收房产税。 二、持有本市居住证但不满3年的购房人，其上述住房先按暂行办法的规定计算征收房产税，待持有本 市居住证满3年并在本市工作生活的，其符合第一条规定的免税住房和面积在本市居住证持证期间已征 收的房产税，可予退还。 本文字 数：782，阅读时长大约1分钟 据上海市人民政府官网，为更好满足居民刚性住房需求和多样化改善性住房需求，促进本市房地产市场 平稳健康发展，根据《上海市人民政府关于印发〈上海市开展对部分个人住房征收房产税试点的暂行办 法〉的通知》（沪府发〔2011〕3号，以下简称"暂行办法"）《关于优化调整本市房地产政策措施的通 知》（沪建房管联〔2025〕417号）的有关规定，现对本市个人住房房产税试点有关政策优化调整如 下： 一、持有本市居住证并在本市工作生活 ...

Core Insights - The Hong Kong stock market indices experienced a collective decline, with the Hang Seng Index falling by 1.35%, the Hang Seng China Enterprises Index down by 1.46%, and the Hang Seng Tech Index decreasing by 0.99% [2] - The report highlights a significant interest in the collaboration between Nvidia and Intel, which is expected to impact the semiconductor sector positively [6] Company Overview - Chery Automobile is a leading passenger car manufacturer in China, established in 1997, with five major brands catering to diverse customer needs [8] - The company is projected to achieve revenues of 926.2 billion, 1,632.1 billion, and 2,699.0 billion CNY from 2022 to 2024, with a compound annual growth rate (CAGR) of 70.7% [8] Industry Status and Outlook - The global passenger car industry is entering a mature phase, with total sales expected to reach 74.3 million units in 2024 and a CAGR of 3.5% from 2025 to 2030 [9] - The Chinese passenger car market is robust, with sales projected to reach 22.7 million units in 2024, growing at a CAGR of 1.9% from 2019 to 2024 [9] Advantages and Opportunities - Chery Automobile boasts a diverse brand matrix and strong R&D capabilities, positioning it well for future technological advancements [10] - The company is recognized as a leading Chinese passenger car enterprise with significant global expansion potential [10] Investment Recommendations - The IPO of Chery Automobile is supported by a strong lineup of cornerstone investors, with the offering price set between 27.75 and 30.75 HKD, leading to a post-IPO market capitalization of approximately 160.04 to 177.34 billion HKD [12] - The report suggests that Chery is comparable to other leading domestic brands like Great Wall Motors and Geely, with a lower valuation relative to Geely [12]

金融街控股股份有限公司发布2023年度第六期中期票据2025年付息公告。该票据简称"23金融街 MTN006"，代码102382622，发行总额10亿元，起息日为2023年9月26日，期限3+2年，本计息期债券利 率3.50%。付息日为2025年9月26日（遇节假日顺延），本期应偿付利息3500万元。托管在银行间市场 清算所的债券，付息资金由其划付。公告还公布了本次付息相关机构及联系人、联系电话等信息。 ...

Core Viewpoint - Shanghai has announced new real estate policies that optimize the property tax pilot program for personal housing, allowing eligible individuals to temporarily avoid property tax payments [1][2]. Group 1: Property Tax Policy Adjustments - The new policy allows individuals holding a Shanghai residence permit and working in the city, including high-level talents and urgently needed professionals, to temporarily avoid property tax on their first home purchase [4][5]. - For those purchasing a second home, property tax will be exempted if the average per capita housing area does not exceed 60 square meters, with tax applied only to the area exceeding this limit [4][5]. - Individuals who have held a residence permit for less than three years will initially pay property tax, but can apply for a refund once they meet the three-year requirement [5][11]. Group 2: Housing Purchase Regulations - The policy allows families to purchase an unlimited number of homes outside the outer ring road, while limiting purchases to two homes within the inner ring for local residents and single adults [7]. - Non-local residents can also purchase homes outside the outer ring without limits, provided they have paid social insurance or income tax in Shanghai for at least one year [7]. Group 3: Housing Fund and Loan Policies - The new regulations increase the maximum loan amount for housing provident funds, with first-time buyers eligible for higher loan limits based on property type and family size [8][9]. - The policy supports the withdrawal of housing provident funds for down payments, allowing individuals to extract funds without affecting their loan limits [9]. - The interest rate pricing mechanism for commercial housing loans will be optimized, removing distinctions between first and second home loans to ease the financial burden on residents [10].

Core Viewpoint - China Overseas Development (00688) has focused on high-energy cities and core areas for investment, enhancing its reputation for "good products" and increasing market share. The company's financing capabilities and cost control are industry-leading, providing a solid foundation for profit growth and long-term development. The forecasted core net profit for 2025 to 2027 is 16.1 billion, 17.1 billion, and 18.0 billion yuan respectively, with a target price of 19.35 HKD based on a 12x P/E ratio for 2025 [1] Sales Performance - In the first half of 2025, the company ranked second in sales with a contract sales amount of approximately 120.15 billion yuan, a year-on-year decrease of 19.0%. The contract sales area was about 5.12 million square meters, down 5.9% year-on-year, while the average sales price increased by 1% to 23,500 yuan per square meter. The overall market share stood at 2.72% [2] Land Reserve - The company acquired land worth 40.37 billion yuan in the first half of 2025, with a new land area of 2.58 million square meters, leading the industry in land acquisition scale. As of the end of July, 86% of the new land investments were in first-tier and strong second-tier cities, indicating high-quality land reserves. The total land reserve was approximately 40.47 million square meters, with 20.88 billion yuan in unsold but contracted amounts, ensuring stable future performance [3] Profitability and Financial Health - Revenue in the first half of 2025 decreased by 4.3% to 83.22 billion yuan, with an overall gross margin of 17.4%, down 4.7 percentage points year-on-year. The core net profit attributable to shareholders fell by 17.5% to 8.78 billion yuan, with a core net profit margin of 10.6%. The company maintained a leading position in the industry for value creation. The asset-liability ratio was approximately 53.7%, down 2.1 percentage points from the end of 2024, with an average financing cost of 2.9% [4] Commercial Operations - The company reported commercial operation income of 3.54 billion yuan, remaining stable year-on-year, with revenue from first-tier cities increasing to 47%. The occupancy rate for mature shopping center projects was 96.2%, with overall sales up 6.7% and same-store sales up 3.9%. The office business had a leasing rate of 78.3%, with a renewal rate increase of 16 percentage points to 77% and an operating profit margin of 59.7%. The company's first commercial REIT has been accepted by the China Securities Regulatory Commission and Shenzhen Stock Exchange, marking significant progress in asset management capabilities [5]

Core Viewpoint - China Overseas Development (00688) has focused on high-energy cities and core areas for investment, enhancing its market share and maintaining a strong reputation for "good products" [1] Sales Performance - In the first half of 2025, the company ranked second in sales with a contract sales amount of approximately 120.15 billion yuan, a year-on-year decrease of 19.0% [1] - The average selling price increased by 1% to 23,500 yuan per square meter, with a total sales area of approximately 5.12 million square meters, down 5.9% year-on-year [1] - The company's market share stood at 2.72%, with major cities like Beijing contributing over 30 billion yuan in sales, driven by a focus on quality housing [1] Land Reserve - The company acquired land worth 40.37 billion yuan in the first half of 2025, with a total land area of 2.58 million square meters, leading the industry in land acquisition [2] - As of the end of July, 86% of the newly acquired land was in first-tier and strong second-tier cities, indicating high-quality land reserves [2] - The total land reserve reached approximately 40.47 million square meters, with a high unrecognized sales amount of 208.8 billion yuan, ensuring stable future performance [2] Profitability and Financial Health - Revenue in the first half of 2025 decreased by 4.3% to 83.22 billion yuan, with a gross profit margin of 17.4%, down 4.7 percentage points [3] - Core net profit attributable to shareholders fell by 17.5% to 8.78 billion yuan, with a core net profit margin of 10.6%, still placing the company in the industry’s top tier [3] - The company’s debt ratio was approximately 53.7%, down 2.1 percentage points from the end of 2024, with an average financing cost of 2.9% [3] Commercial Operations - Commercial operation revenue remained stable at 3.54 billion yuan, with first-tier cities contributing 47% of this revenue [4] - The occupancy rate for mature shopping center projects was 96.2%, with overall sales increasing by 6.7% year-on-year [4] - The company’s first commercial REIT has been accepted by the China Securities Regulatory Commission and Shenzhen Stock Exchange, marking a significant advancement in asset management capabilities [4]

上海宣布优化调整个人住房房产税试点有关政策。 在上海市新购住房，且该住房属于家庭第一套住房的，暂免征收房产税。 在上海市新购且属于家庭第二套及以上住房的，合并计算的家庭全部住房面积（指住房建筑面积， 下同）人均不超过60平方米（即免税住房面积，含60平方米）的，新购的住房暂免征收房产税； 人均超过60平方米的，对属新购住房超出部分的面积，按暂行办法的规定计算征收房产税。 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 记者注意到，今年8月上海市住房城乡建设管理委等六部门发布的《关于优化调整本市房地产政策措施的通 知》也明确，对符合条件的非本市户籍居民家庭购买的第一套住房暂免征收房产税，购买的第二套 及以上住 房在合并计算家庭全部住房面积后，给予人均60平方米的免税面积扣除。 公开资料显示，上海市个人住房房产税试点政策至今已实施了10余年。上海市人民政府2011年1月发布的 《上海市开展对部分个人住房征收房产税试点的暂行办法》明确，征收对象是指本暂行办法施行之日起本 市居民家庭在本市新购且属于该居民家庭第二套及以上的住房（包括新购的二手存量住房 ...

| 3 问：公司是否考虑合作开发模式，尝试风险分担？ | | --- | | 答：公司会结合房地产的周期性、市场需求的变化、存量 | | 的去化情况、现金流情况等综合考虑合作开发事项。 | | 4 问：公司在银发康养主业里的人员构成是怎样的？ | | 答：根据公司银发康养业务的需求，除了招聘相应层次的 | | 康养方面的专业人才，公司还通过康养人才训练营的培训，加 | | 大了公司员工"银发康养"知识的体系化培训，使其成为康养+ | | 地产的复合型人才。 | | 5 问：公司目前的养老业务覆盖很广，未来的重点会放在 | | 哪方面？ | | 答：公司在银发康养领域，力争为长者打造无边界养老院， | | 在长者居家养老、社区养老和机构养老等维度提供完整的服务。 | | 未来还将以"安诺新程"为标杆，保持自身优势特色，利用差 | | 异化产品积极开拓银发康养市场，力争落地更多的"安诺新程"， | | 为长者提供无边界的养老服务。 | | 6 问：与公司业务类型较相似的公司有哪几家？ | | 答：公司自 2017 年进入银发康养领域，主要还是实业创业 | | 为主，立足杭州市、浙江省，为长者提供全方位的无边界养老 ...

Core Insights - The 2025 Chongqing Autumn Real Estate and Home Exhibition (referred to as "Autumn Fair") opened on September 19, 2023, with the theme "Gathering Good Housing for Autumn Home Buying" and focuses on "promoting consumption, stabilizing the market, and benefiting people's livelihoods" [1][3] Group 1: Event Overview - The Autumn Fair features 74 enterprises showcasing 99 real estate projects, with participating companies offering various discounts aimed at benefiting consumers throughout the home buying process [3] - The event employs a dual-mode approach, combining online and offline experiences, with the online exhibition running from September 1 to October 31, 2023, on the "Yufang Tong" app [3] Group 2: Promotional Activities - Various promotional measures include discounted prices from notable projects such as Longhu Beijiao, Poly Shiguangnian, and Huayu Chunjiang Mingyue, among others [3] - The event includes engaging activities like "smashing golden eggs" for transaction rewards, with some projects promising a "100% win" rate, offering prizes such as parking spaces and home appliances [3] Group 3: Consumer Engagement - The online platform allows users to search for properties, view policies, and access discounts, with features like VR house viewing and live video streaming for a more immersive experience [3] - The offline exhibition emphasizes an "immersive experience," enabling visitors to consult directly about property information and providing services like direct transportation to view properties [3] Group 4: Collaborative Initiatives - The Autumn Fair has organized housing consumption linkage activities involving 8 real estate developers and 7 home appliance brands, aiming to enhance consumer benefits and stimulate domestic demand [4]

格隆汇9月19日｜*ST南置(002305.SZ)今日低开2.83%，开盘后一分钟快速封死跌停，现报2.35元，封单 逾21万手；全天仍有1.4亿元成交额，换手率3.44%，最新市值40.75亿元。 消息面上，*ST南置昨日晚间连发40条公告，引发资本市场广泛关注。其《重大资产出售暨关联交易报 告书(草案)》显示，公司拟向控股股东电建地产的全资子公司上海泷临转让房地产开发、租赁业务相关 资产及负债，涵盖17项股权资产及115.79亿元其他应付款，涉及资产总额近200亿元，而交易价格仅1 元。(格隆汇) ...