Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors [5][6]. Core Insights - The real estate market is still in a destocking trend, with new housing market dynamics showing signs of stabilization. The report emphasizes the importance of maintaining stable housing prices for both the real estate sector and consumer confidence [5][6]. - The report highlights that the central government is expected to increase policy support for the real estate sector, including measures such as mortgage rate cuts and promoting the sale of quality housing [5][6]. Industry Data Summary New Housing Transactions - In the week of May 24-30, 2025, new housing transactions in 34 key cities totaled 2.76 million square meters, a decrease of 3% week-on-week. First and second-tier cities saw a 5% decline, while third and fourth-tier cities experienced a 34% increase [5][6]. - In May, the total transaction volume for new homes in 34 cities was 10.03 million square meters, a year-on-year decrease of 7%. First and second-tier cities saw a 9% decline, while third and fourth-tier cities recorded a 7% increase [9][10]. Second-Hand Housing Transactions - In the week of May 24-30, 2025, second-hand housing transactions in 13 key cities totaled 1.27 million square meters, a decrease of 1% week-on-week. Cumulatively, transactions in May were down 5% year-on-year [14][5]. Inventory and Supply - In the week of May 24-30, 2025, 15 key cities launched 1.07 million square meters of new housing, with a corresponding transaction volume of 1.15 million square meters, resulting in a transaction-to-launch ratio of 1.07. The available residential area in these cities was 89.27 million square meters, a slight decrease of 0.1% [23][5]. Policy and News Tracking - The People's Bank of China reported that as of the end of Q1 2025, the balance of real estate loans was 53.54 trillion yuan, a year-on-year increase of 0.04%. The report also outlines various local government initiatives aimed at stabilizing the housing market, including adjustments to housing loan policies and tax rates [33][34].

Group 1 - The core event is the signing of a self-discipline convention by six industry associations and five platform companies in Guangxi, aimed at promoting a friendly environment for new employment groups such as couriers and delivery personnel [1][2] - The self-discipline convention includes 12 specific self-regulatory clauses focusing on service standards, property support, financial guarantees, and collaboration between delivery services and order maintenance [1] - The initiative is guided by various governmental departments and aims to enhance the management and service of couriers and delivery personnel through a comprehensive task list with 61 specific measures [2] Group 2 - The event emphasizes the importance of industry associations in fostering a supportive atmosphere for new employment groups and enhancing cooperation among different sectors [1] - The initiative includes practical measures such as optimizing access management in residential areas and commercial buildings, designating parking areas, and providing rest points for delivery personnel [2]

Core Viewpoint - New City Joy Service has faced significant issues regarding its financial reporting and auditing, leading to the resignation of its auditor, PwC Hong Kong, due to disagreements over additional audit fees and undisclosed transactions with related parties [1][4][6]. Group 1: Company Background - New City Joy Service is primarily engaged in property management and value-added services, with its actual controller being Wang Zhenhua, the former chairman of New City Holdings [2]. - PwC has served as the auditor for New City Joy Service since its listing in 2018, covering all six reporting periods from 2018 to 2023 [2]. Group 2: Financial Performance - The company announced a projected net loss for 2024 between approximately RMB 700 million and RMB 900 million, attributed to increased credit impairment losses and goodwill impairment due to intensified industry competition [2][3]. - As of December 31, 2024, the company had previously provided financial assistance to related parties, with a maximum outstanding balance of RMB 800 million, all of which has since been repaid [3]. Group 3: Audit Issues - During the audit of the 2024 financial results, PwC discovered several transactions with related parties that were not recorded in the company's financial statements, leading to discrepancies in bank reconciliation statements [2][4]. - Following the discovery, an independent investigation committee was formed by the company's board to address the issues raised by PwC [4]. Group 4: Auditor Resignation - PwC submitted a proposal for additional audit fees due to the extra time required for the investigation but was rejected by New City Joy Service, which led to the recommendation for PwC's resignation [4][6]. - The resignation of PwC is notable as it is uncommon for auditors to be suggested for resignation by the companies they audit, particularly over fee disagreements [1][6]. Group 5: Market Context - The resignation of auditors in the Hong Kong market is relatively rare, with most cases arising from either the inability to complete audits on time or disagreements over audit fees [6][7]. - PwC has seen a decline in its audit engagements, with a significant drop in the number of annual report audits in both A-share and Hong Kong markets compared to the previous year [8].

Summary of the Conference Call for Xindazheng Industry Overview - Xindazheng has completed a nationwide layout, becoming the first private enterprise in the non-residential property service sector to achieve this goal, expanding its business focus from Chongqing to cover first and second-tier cities across China [2][3][5] Key Points and Arguments - Despite intensified industry competition and rising labor costs leading to a slowdown in profit growth, Xindazheng expects gross and net profits to remain relatively stable from 2025 onwards, with limited growth due to prior strategic planning and layout [2][5] - The company has significant advantages in the aviation sector, particularly in ramp services, having entered this field through the acquisition of Chongqing Hangcheng, making it one of the largest suppliers of airport services in China [2][6] - Xindazheng has successfully entered the cabin cleaning and special vehicle maintenance market at Jiangbei Airport by overcoming high entry barriers through acquisition, enhancing its market position in the aviation sector [2][7] - The company is actively exploring the application of unmanned technology in property management, particularly in external environment cleaning, having deployed nearly 100 automated devices that can replace 3-4 workers each, significantly improving efficiency and reducing costs [2][8][9] Additional Important Content - The automation equipment currently deployed is primarily used for external cleaning, accounting for 15-20% of total cleaning volume, with a depreciation period of three years, although the actual lifespan can reach around five years [4][9] - Xindazheng plans to implement a new equity incentive plan in 2025, following a share buyback in 2024 aimed at employee motivation, with specific details to be discussed with management and the board [4][10] - The company has made significant progress with its city partner strategy, achieving phase one goals in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen, and plans to strengthen vertical capabilities to support the next phase of development [5][6]

Investment Overview - The company has signed a partnership agreement with Jiang Sai Zhi Bo Le Equity Investment Management Co., Ltd., Zhejiang University Net New Technology Co., Ltd., and Hangzhou Jingye Intelligent Technology Co., Ltd. to jointly invest in Hangzhou Sai Zhi Zhu Long Venture Capital Partnership (Limited Partnership) [1] - The target total fundraising scale of the investment fund is RMB 100 million, with the company contributing RMB 33 million, accounting for 33% of the total fundraising scale [1] Fund Progress - The investment fund has completed the business registration process and obtained a business license from the market supervision and management department [2] - The fund has also completed the private investment fund registration procedures with the Asset Management Association of China, obtaining the Private Investment Fund Registration Certificate [2]

另据了解在加速老旧电梯更新的同时，西湖区稳步推进既有住宅电梯加装工作。转塘街道珊瑚沙社 区通过科学制定方案、规范审批流程、强化质量监管等举措，已完成7个单元电梯加装，惠及100余户居 民，另有2个单元正在施工。针对加梯过程中的政策咨询和居民分歧，社区设立"电梯加装咨询专窗"， 并组织多方协商会，邀请律师、设计师参与协调，有效化解矛盾，确保加梯工作顺利推进。统计数据显 示，西湖区去年完成老旧小区电梯加装110台，今年将完成80台以上，持续提升居民生活品质。 从"忧居"到"优居"，西湖区以"绣花功夫"推进电梯焕新与加装，通过政策精准滴灌、基层创新治 理、居民共建共享的组合拳，破解"资金难""协调难"问题，真正把民生实事办到群众心坎上，让小小电 梯成为直通民心的幸福载体。 据了解，去年9月《杭州市老旧住宅电梯更新行动方案》出台，将15年以上住宅电梯纳入超长期特 别国债支持范围，西湖区迅速推进相关工作，率先将419台"高龄"电梯纳入首批国债支持计划，目前已 完成415台电梯换新。其中留下街道翰墨香林苑50台电梯仅用7个月完成整体换新，翠苑街道文萃苑24台 电梯刷新"三个月竣工"的民生工程速度纪录。据西湖区住建局相关负 ...

"取消每月的抽粪。" 位于上海市长宁区的安阳小区，始建于上世纪80年代中后期，即将迎来一次精品化改造。小区居民提出 了51条关于改造的诉求，其中"抽粪"问题被特别强调。 安阳小区由12栋住宅组成，呈"L"型排布，包括一梯8户和一梯6户，小区西侧、北侧和东侧一墙之隔的 分别是德必易园、科研单位和高层住宅楼。 5月27日，居民张老先生在小区现场告诉《每日经济新闻》记者："1988年，我通过住房调剂来到了安阳 小区（'房屋调剂'是上海特定历史时期的产物，职工可以根据工作单位所在地相互置换房屋），刚搬来 时环境甚至不如现在。听说小区即将改造成为'精品小区'，我们居民也希望能够实现这个目标，这样大 家才能有满满的幸福感。" "我们是典型的老旧小区，您可以看到，这里并没有扩面（扩大居住面积）的条件。"在实地考察中，管 理安阳小区的华阳物业裘经理告诉记者，在这样的条件下进行改造，确实是一项挑战，可谓是"螺蛳壳 里做道场"。 改造之初就面临一堆难题 万事开头难，安阳小区的改造更是如此。 小区业委会的构成比较复杂，物业服务亦是如此。据华阳物业透露，由于历史遗留问题，安阳小区长期 以来由华阳物业和都佳物业共同管理。具体来说，7号 ...

Core Viewpoint - The company, Xinda Zheng Property Group Co., Ltd., has announced its 2024 annual dividend distribution plan, which includes a cash dividend of 1.85 RMB per 10 shares for shareholders, excluding shares held in the repurchase account [2][19]. Summary by Sections Dividend Distribution Announcement - The company plans to distribute a total cash dividend of approximately 41.59 million RMB, calculated based on 224,827,783 shares eligible for distribution at a rate of 0.185 RMB per share [2][20]. - The dividend distribution plan was approved at the annual shareholders' meeting held on May 20, 2025 [2][19]. Shareholder Rights and Exclusions - Shares held in the company's repurchase account (1,450,000 shares) will not participate in the dividend distribution [2][7]. - The cash dividend per share after accounting for the repurchased shares will be approximately 0.1838145 RMB [2][20]. Key Dates - The record date for shareholders to receive the dividend is set for June 5, 2025, and the ex-dividend date is June 6, 2025 [9][19]. Dividend Payment Method - Cash dividends will be directly credited to shareholders' accounts through the designated securities companies on the ex-dividend date [11][12]. Adjustments to Share Repurchase Price - Following the dividend distribution, the maximum repurchase price will be adjusted from 13.96 RMB per share to 13.78 RMB per share, effective from June 6, 2025 [17][21].

Core Viewpoint - The Chongqing Nankai District government has allowed homeowners at Vanke Jinyu Xuefu Hanlin community to determine their own property service fees through a new "flexible pricing" model, marking a significant shift in property management practices in the region [1][4]. Group 1: Flexible Pricing Model - The new property service contract introduces a flexible pricing model where homeowners can choose from various service options and corresponding prices, aiming for a balance between quality and cost [4][5]. - The specific pricing under the new contract is set at 2.28 yuan per square meter per month for high-rise buildings, 2.58 yuan for villas, 2.62 yuan for apartments, 5.2 yuan for commercial spaces, 1 yuan for kindergartens, and 80 yuan per month for parking spaces, with a contract duration of five years [4][5]. - Previously, the fees were higher, with high-rise buildings charged at 3 yuan per square meter per month, villas at 3.8 yuan, apartments at 4 yuan, and commercial spaces at 9 yuan [4]. Group 2: Community Engagement and Oversight - The initiative is facilitated by the Nankai Street Office, which is helping to build a communication platform for property companies and homeowner representatives to negotiate the new terms [4][7]. - The new contract stipulates that 80% of the income from public area revenues will be distributed among homeowners after deducting 20% for operational costs, with all expenditures for public area repairs needing prior public notice and homeowner oversight [5][6]. Group 3: Industry Context and Future Implications - The flexible pricing model is part of a broader trend in the property management industry, with over 100 communities in various cities, including Chongqing, requesting reductions in property fees by 20% to 35% since the beginning of 2024 [10]. - Vanke's implementation of this model is notable as it is the first instance with government involvement, potentially setting a precedent for future property management practices in the region [9][10]. - Other property management companies, such as Country Garden Services, are also exploring similar flexible service options, indicating a shift towards more customizable property management solutions [10][11].

证券代码：002968 证券简称：新大正 公告编号：2025-020 新大正物业集团股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 规定，新大正物业集团股份有限公司（以下简称"公司"）通过回购专用证券账 户持有的公司股份 145 万股不享有参与本次利润分配的权利。 红的总金额=实际参与分配的总股本*分配比例，即 224,827,783 股*0.185 元/股 =41,593,139.86 元人民币；本次分红派息实施后除息价格计算时，每股现金红 利 应 以 0.1838145 元 / 股 计 算 ( 每 股 现 金 红 利 = 现 金 分 红 总 额 / 总 股 本 ， 即 保留小数点后七位)。在保证本次分红派息实施方案不变的前提下，2024 年年度 分红派息实施后的除权除息参考价=股权登记日收盘价-0.1838145 元/股。 【注：根据先进先出的原则，以投资者证券账户为单位计算持股期限，持股 原则调整分配总额。 三、分红派息日期 四、分红派息对象 本次分派对象为：截止 2025 年 6 月 5 日下午深圳证券交易所收市后，在中 国证 ...