格隆汇9月16日｜首开股份（维权）发布异动公告，自2025年9月3日至9月12日期间，北京首都开发股份 有限公司股票收盘价格涨幅偏离值累计达到100%，触及股票交易严重异常波动情形。9月15日和9月16 日公司股票连续两个交易日内日收盘价格涨幅偏离值累计达到20%，近期公司股票交易呈现出交易量明 显增长、换手率大幅提升、股东人数显著增长、个别机构股东出现减持清仓等情况，股价存在短期上涨 过快可能出现的下跌风险。经公司自查并向控股股东及实际控制人发函查证，截至本公告披露日，确认 不存在应披露而未披露的重大事项或重要信息。 ...

首开股份晚间公告，自2025年9月3日至9月12日期间，北京首都开发股份有限公司股票收盘价格涨幅偏 离值累计达到100%，触及股票交易严重异常波动情形。9月15日和9月16日公司股票连续两个交易日内 日收盘价格涨幅偏离值累计达到20%，近期公司股票交易呈现出交易量明显增长、换手率大幅提升、股 东人数显著增长、个别机构股东出现减持清仓等情况，股价存在短期上涨过快可能出现的下跌风险。经 公司自查并向控股股东及实际控制人发函查证，截至本公告披露日，确认不存在应披露而未披露的重大 事项或重要信息。 ...

Core Viewpoint - The article discusses the rising trend of "high usable area" in the real estate market, highlighting that developers are increasingly using this as a selling point rather than competing on price. However, this has led to questionable practices where developers manipulate measurements to inflate usable area figures [3][4][5]. Summary by Sections Regulation of Residential Area Calculation - Recent regulations from various cities, including Chengdu, have sparked discussions on "high usable area." Chengdu's new guidelines state that the horizontal projection area of balconies and other auxiliary spaces should not exceed 30% of the residential area, compared to the previous 20% limit [4][5]. - The new regulations aim to standardize the calculation of usable area and curb the excessive expansion of certain spaces like entrance halls, which were previously not included in area calculations [5][6]. Addressing Grey Areas - The article emphasizes that the goal of these regulations is to eliminate grey areas where developers might "steal area" by manipulating designs to increase the reported usable area. Common tactics include designing balconies as semi-enclosed spaces or mislabeling equipment platforms [8][9]. - The push for high usable area has led to inflated marketing claims, with some projects advertising usable areas exceeding 100%, which can mislead consumers [10]. Market Dynamics and Competition - The article notes that while high usable area projects have seen initial success, the market is becoming saturated, making it difficult for such projects to maintain sales momentum. For instance, a project in Wuhan with a 97-98% usable area only achieved an 18% sales rate [12][13]. - The competition among similar projects is intensifying, and developers are encouraged to focus on overall quality and sustainability rather than just maximizing usable area [14]. Future Directions - Experts suggest that the focus should shift from merely increasing usable area to enhancing overall living quality, including better community facilities and building standards. This approach aims to improve the long-term value of properties and the overall living experience [13][14].

格隆汇9月16日丨中国文旅农业(00542.HK)公告，谨此向公司股东及潜在投资者提供本集团的最新业务 发展资料。集团有四个发展中项目，即分别位于横琴的德国城项目、位于成都的富元君庭项目、位于斗 门的富元广场项目及位于台山市的台山项目。董事会欣然知会股东及潜在投资者，继2019年第四季度展 开预售后，集团其中一个旗舰项目德国城的销售程序预期将于2025年年底前大致完成，惟有待完成该项 目的建设工程。集团近期已就批量出售德国城的12栋楼宇与一名独立第三方订立买卖协议，合同总价约 为人民币5.5亿元。此项交易预计于2025年年底前完成。 ...

Core Viewpoint - The real estate market in China is experiencing a divergence between new and second-hand housing prices, with first-tier cities showing more resilience in new home prices compared to second-hand homes, which continue to decline [1][4][10]. Group 1: Price Trends - In August, new home prices in first-tier cities decreased by 0.1% month-on-month, while second-hand home prices fell by 1.0% [1]. - Second-tier cities experienced a more significant decline, with new home prices down 0.3% and second-hand prices down 0.6% month-on-month [1]. - Guangzhou saw the largest year-on-year drop in second-hand home prices, down 6.2% compared to last year [1]. Group 2: Market Dynamics - The second-hand housing market is more reflective of market sentiment, while new homes benefit from quicker supply adjustments and stronger demand in core areas [1][4]. - The divergence between new and second-hand home prices is expected to intensify, leading to the emergence of two distinct markets [4]. Group 3: Supply and Demand Factors - Key factors influencing the new home market include land supply, developer funding, and transaction volume [5]. - The concentration of land supply is increasing, with the top 10 developers accounting for 70% of the new value added in the real estate sector [5][6]. - In Beijing, major developers are acquiring a significant portion of land, leading to a potential regional supply monopoly and a shift towards high-end product development [6]. Group 4: Financial Conditions - Real estate developers' funding reached 64,318 billion yuan in the first eight months of 2025, a year-on-year decrease of 8%, but the decline rate has slowed [8]. - The new housing starts have decreased by 19.5% year-on-year, indicating a potential easing of financial pressures for major developers [8]. - The land market is showing signs of recovery, with the top 100 developers increasing their land acquisition by 31% year-on-year [8][9]. Group 5: Consumer Behavior - The second-hand housing market is characterized by intense competition among individual sellers, leading to a downward price pressure [11][12]. - The decline in personal housing loans indicates a weakened willingness to buy among consumers, despite a potential increase in leverage capacity [13][16]. - Rental prices in cities like Beijing have also decreased, which may further delay potential buyers' plans to enter the market [14].

Core Viewpoint - China Cultural Tourism Agriculture (00542) announced the development of four ongoing projects, including the German City project in Hengqin, the Fuyuan Junting project in Chengdu, the Fuyuan Plaza project in Doumen, and the Taishan project in Taishan [1] Group 1 - The flagship project, German City, is expected to complete its sales process by the end of 2025, pending the completion of construction [1] - The company has signed a sales agreement with an independent third party for the bulk sale of 12 buildings in the German City project, with a total contract value of approximately RMB 550 million [1] - This transaction marks a significant sales milestone for the company, which is expected to substantially improve cash flow, strengthen the balance sheet, and positively impact overall financial performance [1]

集团近期已就批量出售德国城的12栋楼宇与一名独立第三方订立买卖协议，合同总价约为人民币5.5亿 元。此项交易预计于2025年年底前完成。 此次交易标志着集团实现重大销售里程碑。预期销售所得款项将显著改善集团现金流、强化资产负债 表，并对整体财务表现产生积极影响。这亦充分证明集团具备发展及变现大型综合项目的能力。 智通财经APP讯，中国文旅农业(00542)发布公告，集团有四个发展中项目，即分别位于横琴的德国城项 目、位于成都的富元君庭项目、位于斗门的富元广场项目及位于台山市的台山项目。 董事会欣然知会股东及潜在投资者，继2019年第四季度展开预售后，集团其中一个旗舰项目德国城的销 售程序预期将于2025年年底前大致完成，惟有待完成该项目的建设工程。 ...

成立于1968年，美的是一家覆盖智能家居、新能源及工业技术、智能建筑科技、机器人与自动化、健康 医疗、智慧物流等业务的全球化科技集团，过去五年研发资金超600亿元，形成美的、小天鹅，华凌、 COLMO，库卡，威灵、合康、科陆、高创、万东和菱王等多个品牌组合，每年为全球超过5亿用户， 各领域的重要客户与战略合作伙伴提供满意的产品和服务。迄今，美的在全球拥有超400家子公司、38 个研发中心和63个制造基地，业务覆盖200多个国家和地区。 | 101 | 广东省广新控股集团有限公司 | 27012650 | | --- | --- | --- | | 102 | 立讯精密工业股份有限公司 | 26879474 | | 103 | 新希望控股集团有限公司 | 26826512 | | 104 | 中国电子信息产业集团有限公司 | 26643826 | | 105 | 鞍钢集团有限公司 | 26097240 | | 100 | 海亮集团有限公司 | 26022392 | | 107 | 中国大唐集团有限公司 | 25831627 | | 108 | 中国中车集团有限公司 | 25813384 | | 109 | 铜陵 ...

Group 1 - China Shenhua reported coal sales of 37.5 million tons in August, a year-on-year decrease of 3.1%, with total sales for the first eight months at 280 million tons, down 9.2% year-on-year [1] - China Shenhua, established in November 2004, focuses on coal and electricity production and sales, as well as transportation and coal-to-olefins [1] - Huaren Shuanghe's subsidiary received a drug registration certificate for a new injection used in treating non-ST elevation acute coronary syndrome [1] - Huaren Shuanghe, founded in May 1997, operates in chronic disease management, specialty business, and infusion business [1] Group 2 - New Wufeng's subsidiary signed a property transaction contract for a 60% equity transfer at a price of 9.7 million yuan [1] - New Wufeng, established in June 2001, specializes in pig farming, meat sales, and feed processing [2] - Yaoshi Technology announced that its convertible bonds will stop conversion after September 17, with remaining bonds to be redeemed at 100.62 yuan per bond [3] - Yaoshi Technology, founded in December 2006, focuses on drug molecular building blocks and related services [3] Group 3 - Newhua Co. announced a board member's plan to reduce holdings by up to 75,200 shares, representing 0.039% of total shares [4] - Newhua Co., established in September 1997, specializes in fine chemical products [4] - Hefei Construction's subsidiary signed a land use rights transfer contract for residential land with a total price of 12.24 billion yuan [6] - Hefei Construction, founded in September 1999, is involved in real estate development and property management [6] Group 4 - Guoyao Modern's subsidiary received a drug registration certificate for an injection used in anesthesia and emergency treatment [7] - Guoyao Modern, established in November 1996, focuses on pharmaceutical product development and sales [7] - Maohua Shihua announced the resignation of its deputy general manager [8] - Maohua Shihua, founded in October 1988, specializes in petrochemical products [9] Group 5 - Zhejiang Xineng applied for enforcement of a civil mediation agreement, seeking 170 million yuan from a group for breach of contract [10] - Zhejiang Xineng, established in December 1991, focuses on renewable energy projects [10] - Zejing Pharmaceutical announced the initiation of key clinical trials for a new drug targeting DLL3 [11] - Zejing Pharmaceutical, founded in March 2009, specializes in the development and production of new chemical and biological drugs [12] Group 6 - Huayi Technology's deputy general manager resigned due to personal work arrangements [13] - Huayi Technology, established in December 1998, focuses on high polymer materials and equipment manufacturing [13] - Luxiao Technology's subsidiary signed a strategic cooperation agreement with a leading cross-border e-commerce company [14] - Luxiao Technology, founded in May 1989, operates in various sectors including photovoltaic power generation [14] Group 7 - Aoxiang Pharmaceutical's subsidiary received a drug registration certificate for a new cancer treatment [15] - Aoxiang Pharmaceutical, established in April 2010, focuses on the development and production of pharmaceutical products [15] - Baiyunshan's pharmaceutical factory received approval for five drug supplement applications [16] - Baiyunshan, founded in September 1997, specializes in the research and production of various pharmaceutical products [16] Group 8 - Renfu Pharmaceutical's subsidiaries received drug registration certificates for two new products [17] - Renfu Pharmaceutical, established in March 1993, focuses on drug research and production [18] - China Shipbuilding Technology signed a significant contract for green methanol sales, potentially worth up to 1.2 billion dollars [19] - China Shipbuilding Technology, founded in May 1997, specializes in wind and solar resource development [19] Group 9 - Haohua Technology received a project designation from a global automotive brand for its ADAS system [20] - Haohua Technology, established in January 2010, focuses on intelligent driving perception systems [20] - Hendi Pharmaceutical received approval for a new raw material drug [21] - Hendi Pharmaceutical, founded in December 1995, specializes in chemical raw materials and formulations [22] Group 10 - JX Communication's subsidiary received a temporary use permit for an air traffic communication system [23] - JX Communication, established in January 1995, focuses on communication technology applications [23] - Longyuan Technology's deputy general manager resigned due to work reasons [24] - Longyuan Technology, founded in December 1998, specializes in energy-saving and environmental protection [25] Group 11 - Jiuqiang Bio received a medical device registration for a gastrin-17 assay kit [26] - Jiuqiang Bio, established in January 2001, focuses on in vitro diagnostic testing platforms [26] - Rifei Co. received approval for a stock issuance to specific investors [27] - Rifei Co., founded in December 2009, specializes in special equipment cables and other electrical devices [27] Group 12 - Huayi Media received a subsidy for a micro-short drama project [28] - Huayi Media, established in August 1998, focuses on film and game content investment [28] - Huilong Pharmaceutical's subsidiary received overseas marketing approvals for multiple products [29] - Huilong Pharmaceutical, founded in October 2010, specializes in innovative and high-quality generic drugs [29] Group 13 - Junsheng Electronics' subsidiary received project designations from two major automotive brands [30] - Junsheng Electronics, established in August 1992, focuses on automotive parts [30] - Silek signed an investment cooperation agreement for a new energy project [31] - Silek, founded in January 2004, specializes in metal packaging equipment [31] Group 14 - ST Huhuwa received drug registration certificates for two new products [32] - ST Huhuwa, established in June 2005, focuses on drug research and production [32] - Canray Technology announced a share buyback plan of 20 to 40 million yuan [33] - Canray Technology, founded in September 2005, specializes in integrated circuits [33] Group 15 - Qilu Bank's directors plan to collectively increase their holdings by at least 3.5 million yuan [34] - Qilu Bank, established in June 1996, focuses on corporate and personal banking services [34] - China Overseas Land reported a significant decrease in contract sales in August [35] - China Overseas Land, founded in September 1997, specializes in tourism and real estate [35] Group 16 - Longjian Co. plans to acquire 100% of Guangdong Zhimao's equity for 40,000 yuan [36] - Longjian Co., established in January 1993, focuses on infrastructure construction [36] - Lichong Group's subsidiary received project designations from a luxury car brand [37] - Lichong Group, founded in July 1998, specializes in aluminum alloy products [37] Group 17 - Kanglong Huacheng's subsidiary passed an FDA inspection [38] - Kanglong Huacheng, established in July 2004, focuses on integrated drug research and development services [38] - Kangtai Bio received a drug registration certificate for a new polio vaccine [39] - Kangtai Bio, founded in September 1992, specializes in vaccine development and production [39] Group 18 - Baiyunshan's pharmaceutical factory's drug entered a key clinical trial phase [40] - Baiyunshan, established in September 1997, focuses on various pharmaceutical products [40] - Zhongyuan Home's chairman plans to reduce holdings by up to 3% [41] - Zhongyuan Home, founded in November 2001, specializes in furniture production [41] Group 19 - Shangluo Electronics plans to acquire 88.79% of Ligon Technology's equity for 709 million yuan [42] - Shangluo Electronics, established in August 1999, focuses on electronic components [42] - Shangluo Electronics also plans to issue convertible bonds to raise 1 billion yuan [43] - Shangluo Electronics, founded in August 1999, specializes in electronic products for various applications [43] Group 20 - HNA Holdings reported a 3.38% increase in passenger capacity in August [44] - HNA Holdings, established in December 1995, focuses on air transportation services [44] - Yipin Hong's subsidiary received a drug registration certificate for a new product [45] - Yipin Hong, founded in February 2002, specializes in pharmaceutical production [45] Group 21 - Haishi Ke's innovative drug received approval for a new indication [46] - Haishi Ke, established in August 2005, focuses on new drug development [46] - Huaxia Airlines plans to repurchase shares worth 80 to 160 million yuan [47] - Huaxia Airlines, founded in April 2006, specializes in air transportation services [47] Group 22 - Jingchen Co. plans to acquire 100% of Xinchip Microelectronics for 316 million yuan [48] - Jingchen Co., established in July 2003, focuses on semiconductor design [48] - Zhongxin Heavy Industry was recognized as an excellent smart factory by the Ministry of Industry and Information Technology [49] - Zhongxin Heavy Industry, founded in January 2008, specializes in large equipment and technology solutions [49]

China Cultural Tourism and Agriculture Group Limited 香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 之 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 中 國 文 旅 農 業 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：542） 自願公告 業務進展資料 中國文旅農業集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董 事」）會（「董事會」）謹此向本公司股東及潛在投資者提供本集團的最新業務發展資 料。 本集團有四個發展中項目，即分別位於橫琴之德國城項目、位於成都之富元君庭 項目、位於斗門之富元廣場項目及位於台山市的台山項目。 董事會欣然知會股東及潛在投資者，繼二零一九年第四季度展開預售後，本集團 其中一個旗艦項目德國城的銷售程序預期將於二零二五年年底前大致完成，惟有 待完成該項目的建設工程。 本集團近期已就批量出售德國城的12棟樓宇與一名獨立第三 ...