楼市涨跌格局初显：跌多涨少 9月的深圳楼市，犹如一场复杂的多幕剧，在房价的舞台上，各片区呈现出截然不同的走势。中原地产业主报价监测数据新鲜出炉，为我们揭开这层神秘 的面纱。 图表来源：大咖深房团 从整体数据来看，在本次监测的86个片区中，业主报价下跌的片区数量占据主导，共有66个，不变的仅有1个，而上涨的片区则有19个。这一数据直观地 反映出当下深圳楼市的下行压力。跌幅片区总量较多，其中跌幅在1%以内的片区有28个，这些片区房价虽有下滑，但幅度相对温和，或许是市场正常波 动的体现；1 - 2%的片区共24个，下跌趋势稍显明显；2 - 3%的片区有8个，市场观望情绪在这些区域可能更浓；3%以上的片区也有6个，这类片区房价下 滑较为显著，值得关注。盐田的梅沙片区成为9月跌幅最高的片区，目前均价5.1万元/㎡，跌幅达8.9%，着实令人咋舌。龙岗区的横岗、坂田片区也未能 幸免，分别以5.5%、4.9%的跌幅位列第二、三位，这或许与区域内的房源供应、市场供需关系等因素有关。 逆势上涨片区：三大区中心成焦点 然而，楼市从来都不是一潭死水，在一片跌声之中，仍有部分片区展现出顽强的活力，逆势上扬。从地图分布来看，涨幅片区主要 ...

Group 1: US Employment and Economic Outlook - Economists predict a moderate employment growth in the US for August, with an expected increase of 75,000 non-farm jobs, up from 73,000 in July, while the unemployment rate is projected to rise to 4.3% [1] - The softening labor market is attributed to President Trump's import tariffs and immigration policies, which have reduced the labor supply [1] - Reports indicate that in July, the number of unemployed individuals exceeded job vacancies for the first time since the pandemic began in 2019, signaling a stagnation in job growth [1] Group 2: Currency and Housing Market Insights - Bart Wakabayashi from State Street Securities expresses concerns over Trump's intervention in Federal Reserve policies, suggesting that investors are currently reluctant to hold dollar assets, but anticipates a potential rebound in dollar buying [2] - Despite uncertainties in France, the UK, and Japan, the likelihood of a September rate cut is almost fully priced in, and a weak non-farm employment report could put further pressure on the dollar [2] - Halifax reports that UK house prices rose by 0.3% in August, with a year-on-year increase of 2.2%, although the growth rate has been slower than consumer price inflation in recent months [2] Group 3: UK Political and Economic Developments - Monex Europe analysts note that the political uncertainty surrounding UK Deputy Prime Minister Rishi Sunak, due to a tax issue, may lead to long-term weakness in the pound, despite limited short-term impact [3] - The average minimum wage in Japan is set to increase to 1,121 yen, a rise of 66 yen from the previous fiscal year, which is expected to positively influence consumer spending towards the end of the year [3] - Despite the wage increase, ongoing inflation is dampening consumer spending willingness in Japan, with private consumption in July likely remaining flat compared to the previous month [3]

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core View of the Report - Short - term macro uncertainties are rising, and the stock index may shift from smooth upward movement to volatile upward movement. The market style temporarily maintains an overweight on the technology growth sector, while also paying attention to opportunities in the consumer and cyclical style leading sectors [4]. 3) Summary by Related Content Domestic Macroeconomic Situation - Financially, credit factors are steadily recovering, and the growth rate of securities net investment - type assets has been rising since hitting the bottom in July last year, which supports the equity market in the medium term. The implementation of the long - cycle assessment mechanism for insurance funds in July helps improve the investment enthusiasm of insurance funds and the stability of the capital market. Since August, the capital side has been positive, and the return of various types of funds may continue [2]. - The current inventory cycle in China is at a low level but lacks driving factors. The real - estate short - cycle indicators are still weak, and the inventory cycle is expected to oscillate at a low level waiting for drivers. The implementation of anti - involution and domestic demand expansion policies is a key point [2]. Overseas Macroeconomic Situation - The game between Trump and the Federal Reserve has intensified, increasing the uncertainty of the Fed's interest - rate cut path. Although it is currently in a stable period for Sino - US risk management, most positive factors have been priced in, so more attention should be paid to risks. The US may need to refund billions of dollars in tariffs, which will worsen its fiscal situation. Trump will appeal the ruling, and the follow - up development is worth watching [3]. - After the global financial conditions reached a high, there have been small fluctuations in US dollar liquidity in recent days, and the long - term bond yields in developed markets have risen significantly [3]. Market Structure and Allocation - In terms of valuation, there is a structural differentiation in the market. The trading congestion of technology stocks is relatively high in the short term, while the valuation of the consumer sector is relatively low. Macro - liquidity is concentrated in the financial market and has not effectively reached the real economy. Attention should be paid to policy support for the real economy and the matching of valuation and corporate earnings [4]. - With the entry of incremental funds and the position - adjustment behavior of on - market funds, the previous dominant style may be further exaggerated. The market style temporarily maintains an overweight on the technology growth sector and also focuses on opportunities in the consumer and cyclical style leading sectors [4]. Market Performance on a Specific Date - On September 4, the market weakened unilaterally throughout the day. The ChiNext Index fell more than 5% during the session, and the STAR 50 Index closed down more than 6%. The large - consumer sector strengthened against the trend, while the new - energy industry chain rose and then fell, and sectors such as the semiconductor industry chain, AI hardware, and GPU concepts回调 significantly [1].

Group 1 - Guizhou Moutai's controlling shareholder, Moutai Group, has received a loan commitment letter from Agricultural Bank of China for a maximum of 2.7 billion yuan to support stock repurchase plans, with the repurchase amount expected to be between 3 billion and 3.3 billion yuan within six months from the announcement [1] Group 2 - Kuangda Technology announced that Zhuzhou State-owned Assets Supervision and Administration Commission will become the actual controller of the company after the transfer of 412 million shares, representing 28% of the total share capital, at a price of 5.39 yuan per share, totaling 2.2 billion yuan [2] Group 3 - Baili Tianheng's self-developed drug, iza-bren, has been included in the priority review list by the National Medical Products Administration, marking it as the world's first EGFR×HER3 dual-target ADC drug to enter phase III clinical trials [3] Group 4 - Guangqi Technology's subsidiary, Shenzhen Guangqi Advanced Technology, has signed batch production contracts totaling 1.278 billion yuan for metamaterials products with five clients, with deliveries expected to be completed by June 30, 2026 [4] Group 5 - Chengda Pharmaceutical announced that a shareholder plans to reduce its stake by up to 7.27%, equating to approximately 11.0069 million shares, within three months following the announcement [5] Group 6 - Jiejia Weichuang disclosed that specific shareholders and executives plan to reduce their holdings, with one shareholder intending to sell up to 3 million shares (0.8649% of total shares) and executives planning to sell minor amounts [6] Group 7 - Digital Certification announced a change in its controlling shareholder to Beijing Data Group after the transfer of 70.8558 million shares from Beijing State-owned Assets Company, with no change in the actual controller [7] Group 8 - ST Lingnan is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws, involving the company and its former controlling shareholder [8] Group 9 - Huada Jiutian announced that a major shareholder plans to transfer 2.64% of the company's shares, totaling 14.35 million shares, through an inquiry-based transfer due to funding needs [9]

Major Events - Kweichow Moutai's controlling shareholder obtained a loan of 2.7 billion yuan to increase holdings [1] - SMIC is actively promoting the purchase of 49% equity in SMIC North, but the transaction plan is still under discussion [1] - Guokai Microelectronics is advancing the issuance of shares and cash payment for asset acquisition and fundraising [1] - Aerospace Hongtu signed a strategic cooperation agreement with Pakistan, but the formal contract signing remains uncertain [1] - Sinopec announced a cash dividend of 0.088 yuan per share (before tax) for A-shares [1] - Hikvision's chairman proposed a mid-2025 dividend plan of 4 yuan for every 10 shares [1] - Anzheng Fashion reported no undisclosed major events [1] - China State Construction is acquiring equity in a Shanghai real estate project for approximately 15.478 billion yuan [1] - Guokai Co., Ltd. changed its stock name to Guokai Electronics [1] - Kailuan Co. completed the change in the equity structure of China Cinda [1] - Unification Co. completed the change in the equity structure of its controlling shareholder [1] - ST Xin Dongli's stock may face delisting risk warning [1] - Jinlang Technology reported normal recent operations with no significant changes in the internal and external environment [1] - Sungrow Power Supply confirmed normal operations with no undisclosed major events [1] - Tiantong Co. reported normal production and operations with no significant changes [1] - Keyuan Pharmaceutical received a decision letter on the anti-monopoly review without further examination [1] - Zhizheng Co. was approved to issue shares for asset acquisition and fundraising [1] - Amlogic plans to issue H-shares and list on the Hong Kong Stock Exchange [1] - Digital Certification's controlling shareholder changed to Beijing Data Group [1] - ST Songfa signed a contract for two 30.6 million-ton ultra-large crude oil tankers with Hengli Shipbuilding [1] - Guangqi Technology signed a contract worth 1.278 billion yuan for the mass production of metamaterials [1] - Hongrun Construction won a bid for the Ningbo Ring City South Road East Extension Phase I project with a bid price of 388 million yuan [1] Performance - Muyuan Foods reported sales revenue of 11.85 billion yuan from live pigs in August, a year-on-year decrease of 12.30% [1] - Ankai Bus's cumulative production increased by 68.06% this year [1] - Shuguang Co. reported a 45.58% increase in axle sales in August [1] - Jinxinnong reported sales revenue of 121 million yuan from live pigs in August [1] Buyback - Yingke Medical adjusted the upper limit of its share repurchase price from 26.51 yuan per share to 41.88 yuan per share [2]

Core Viewpoint - Zhongliang Holdings (02772.HK) reported a contract sales amount of approximately 960 million yuan for August 2025, with a contract sales area of about 96,000 square meters and an average contract sales price of approximately 9,900 yuan per square meter [1] Summary by Relevant Categories Contract Sales Performance - For the period from January to August, the cumulative contract sales amount reached approximately 8.29 billion yuan, with a cumulative contract sales area of about 790,000 square meters and an average contract sales price of approximately 10,500 yuan per square meter [1]

Investment Rating - The report assigns a rating of "Accumulate" to the company with a target price of 3.35 CNY, while the current price is 3.19 CNY [7]. Core Views - The company is experiencing profit pressure with a reported loss in performance for the first half of 2025. Revenue has declined year-on-year, and land acquisition remains cautious. However, operational and innovative businesses are progressing steadily, with a focus on synergistic development across diverse business lines [3][14]. Financial Summary - Total revenue for 2023 is reported at 47,763 million CNY, with a projected decline of 49.3% in 2024 to 24,213 million CNY, followed by a recovery to 26,710 million CNY in 2025, representing a 10.3% increase [5]. - The net profit attributable to the parent company shows a significant loss of -6,339 million CNY in 2023, worsening to -8,141 million CNY in 2024, but is expected to improve to -2,053 million CNY in 2025, marking a 74.8% increase [5]. - The earnings per share (EPS) is projected to be -0.80 CNY in 2025, improving from -3.16 CNY in 2024 [5]. Business Operations - The company’s sales area decreased by 1.7% year-on-year in the first half of 2025, with sales amounting to 114.1 billion CNY, down 25.1% from the previous year. The average selling price was 15,827 CNY per square meter [14]. - As of June 2025, the company has 148 major projects for sale or under construction, with a total construction area of 43 million square meters, of which 36.3% is located in Beijing [14]. - The company has only added one new land reserve in the first half of 2025, covering an area of 27,000 square meters in Daxing, Beijing [14]. Innovative Business Development - The company has made progress in its operational efficiency and innovation, with a property leasing area of 1.73 million square meters and hotel room sales reaching 157,000 room-days. The overall occupancy rate of six core landmark shopping malls is 95% [14]. - The "首开乐尚" long-term rental apartment brand has opened 11 locations in Beijing, Hangzhou, and Fuzhou, with nearly 7,000 listings and a rental rate of 93% in the first half of 2025 [14]. - The "首开寸草" elderly care brand is gradually establishing its influence, with nine nursing homes set up across various districts in Beijing [14].

Group 1 - Huayuan Holdings (SH 600743) announced on September 5 that its 34th meeting of the 8th Board of Directors was held via communication voting, discussing the proposal to add members to the Board Audit Committee [1] - For the year 2024, Huayuan Holdings' revenue composition is as follows: Real estate accounts for 93.06%, hotel industry for 4.71%, other businesses for 1.26%, and property management for 0.97% [1] - As of the report date, Huayuan Holdings has a market capitalization of 4.9 billion yuan [1] Group 2 - Haidilao is diversifying its business with initiatives such as opening a bakery by West Lake and entering the high-end hotel sector, but the survival rate of its sub-brands is below 50% [1]

Group 1: Core Policy Initiatives - Shandong Province has introduced the third batch of policy measures aimed at promoting economic stability and quality improvement, focusing on service industry development, project construction support, and assistance for enterprises [1][2] - The policy list includes 16 measures that provide direct financial support, including 200 million yuan for service industry development and an additional 100 million yuan for high-growth enterprises [1][2] Group 2: Service Industry Support - The province will enhance the support for the service industry by implementing a 200 million yuan fund to assist newly registered enterprises and key projects in high-end and quality service sectors [1] - There will be a focus on boosting consumer demand through initiatives like the old-for-new consumer goods program and housing market incentives for cities that effectively promote healthy real estate development [1] Group 3: Project Construction Assurance - Shandong aims to expedite the construction of key projects at provincial, municipal, and county levels, ensuring that policy-driven funding reaches enterprises and projects directly [2] - The province plans to issue all local government special bonds by the end of October and will provide additional land use support for cities facing shortages [2] Group 4: Enterprise Assistance and Financing - The province is expanding the coverage of technology achievement transformation loan interest subsidies to all 16 cities, with a maximum subsidy of 500,000 yuan available for qualifying enterprises [3] - Measures to reduce logistics costs include extending the subsidy period for the Xiaoqing River shipping route and providing support for the construction and operation of new energy vessels [3] - The government will address operational difficulties for enterprises by coordinating solutions for raw material supply, financial credit, and market expansion [3]

于2025年8月，集团合约销售(连合营企业及联营公司的合约销售)金额约人民币9.6亿元，合约销售面积 约96,000平方米。本集团2025年8月合约销售均价约人民币9,900元╱平方米。 格隆汇9月5日丨中梁控股(02772.HK)公告，于2025年1月至8月，集团累计合约销售(连合营企业及联营 公司的合约销售)金额约人民币82.9亿元，累计合约销售面积约790,000平方米。2025年1月至8月合约销 售均价约人民币10,500元╱平方米。. ...