接下来是董事长致辞有请公司董事长张正高先生致辞尊敬的各位股东2024年是华侨城发展史上极不寻常的一年行业超预期调整风险挑战接踵而至华侨城面临转型升级与稳定经营的双重考验 回顾2024年在习近平新时代中国特色社会主义思想科学指引下在党中央坚强领导和国务院国资委大力支持下全年实现经营性现金流54亿元代息负债规模有效控制公司上下团结拼搏苦干实干 稳住了生产经营基本盘在行业深度调整中展现了扬起担当过去的一年我们以战略定力应对非常之变全面完成发展战略重构坚决守住安全稳定运行防线纵深推进企业专业化改革 我们系统优化华侨城及各二级企业战略规划引领企业聚焦主业稳经营守底线增强核心功能提升核心竞争力我们统筹开展干在实处走在前列十大专项行动围绕营销去化资产盘活 市场拓展等重难点任务聚力攻坚领导干部率先垂发全体员工努力同心经营管理理念落实到经营管理各环节我们持续强化现金流管控公司经营性净现金流连续两年保持为正我们完善公司治理 深化专业化改革专业公司积极适应市场新趋势优化存量项目经营策略打造标准化特色产品加大新资产拓展力度酒店公司连续6年入榜中国饭店集团60强商馆公司首次请进行业前30强华福公司获评 2024中国物业服务百强企业子公 ...

Group 1 - Hefei City Housing Provident Fund Management Committee has announced a policy to support the use of housing provident funds for purchasing affordable housing, reducing the down payment ratio to 15% and adjusting the repayment capacity coefficient from 0.5 to 0.6 [1] - Chengdu has implemented interim measures for the management of affordable housing, establishing a closed management system to prevent the conversion of affordable housing into commercial housing, which may shift some demand from the commercial housing market [2] - China Resources Land has issued 2 billion yuan of medium-term notes with a low interest rate of 2.20%, indicating a relative advantage in financing for state-owned enterprises compared to private firms [3] Group 2 - The meeting for the bondholders of Zhengrong Real Estate has been postponed, reflecting ongoing disagreements regarding repayment conditions and potentially increasing market concerns about the efficiency of debt restructuring for real estate companies [4] - Poly Property has completed the conversion of 194 million domestic shares to H-shares, significantly increasing the liquidity in the secondary market and enhancing the company's capital structure, which may attract international capital [5][6]

Core Insights - The real estate industry is undergoing a transformation driven by AI and technological innovations, moving away from traditional growth models towards more precise decision-making and efficient operations [2][3] - The concept of "good houses" has gained prominence, with government reports emphasizing the need for safe, comfortable, green, and smart housing, highlighting the integration of AI technology in this development [3][4] Group 1: AI and Industry Transformation - AI is leveling the playing field among companies, allowing them to compete on a more equal footing, which is crucial in the current historical context [3][6] - The integration of AI can reshape enterprise management through operational innovation, business model innovation, and management innovation [3][6] - The real estate market is shifting from a focus on scale to quality, indicating a transition into a "stock era" for the property industry [6] Group 2: Key Dimensions for "Good Houses" - Achieving "good houses" involves three critical dimensions: digitalization of space, Internet of Things (IoT), and artificial intelligence [3][4] - Digital houses will not only provide physical space but also a digital representation of home devices, enhancing problem-solving efficiency for users [4] - Future homes will feature comprehensive connectivity of devices and appliances, allowing remote control via smartphones [5] Group 3: AI's Role in Property Management - AI is expected to drive the digital transformation of property management, moving from manual processes to a more data-driven approach [6][8] - The property sector is experiencing a shift towards smart management, with AI facilitating predictive maintenance and enhancing service quality [8] - AI tools are being utilized to streamline property information management, although their immediate impact on business operations is still developing [7][8]

皇岗口岸和深圳湾口岸智能清洁机器人闪亮登场，在凌晨4点至6点开展高强度集中清洁，既填补夜间运维空白， 又避免日间大范围清洁作业对通关效率的影响，以高效、精准的清洁能力，为口岸环境带来了焕然一新的变化。 皇岗口岸行李机器人投入使用，口岸旅客携带大件行李通关常面临排队久、搬运难等问题。智能行李机器人可实 现"无感化"行李运输， 增加口岸暖心服务的同时极大地提升了行李处理效率，为旅客提供了更加便捷、舒适的出 行体验。 福田口岸落马洲通道桥成功应用水下检测机器人开展桥梁安全监测。作为重要交通枢纽，该桥水下结构尤其是桥 墩部位长期面临检测难题——受潮汐作用影响，桥体周边水流湍急形成检测盲区。新型水下机器人有效替代传统 蛙人作业模式，在规避潜水作业风险的同时，可高效完成桥墩外观检测及河床冲刷状况评估，显著提升了口岸基 础设施的安全监测水平。 特信物业事业部／深国交项目：智慧物业平台打造高效服务 转自：新华财经 科技的飞速发展推动着智能化应用深入融入我们的生活，为企业服务领域带来巨大变革。深圳市特发服务股份有 限公司作为行业先锋，始终坚持创新引领、科技赋能的理念，致力于智能化技术在服务领域的探索与实践。 从特发口岸公司的智 ...

Core Viewpoint - The company, formerly known as Yin Yi Co., has been gradually divesting its real estate-related businesses and is now planning to sell its last remaining property management segment to focus entirely on the automotive sector [1][2]. Group 1: Company Strategy and Transactions - The company announced the sale of 100% equity in Zhejiang Shanzi Smart Service Co., Ltd. for 473.5 million yuan to Hezhong Changqing Smart Service Co., Ltd. [1][4] - The purpose of this sale is to optimize the company's automotive industry chain and clarify its strategic positioning [2]. - The funds from this transaction will be used for key project investments and to supplement the company's working capital, positively impacting cash flow [2]. Group 2: Financial Performance of the Sold Entity - As of December 31, 2024, Shanzi Smart Service reported total assets of 526 million yuan and a net asset of 30.6 million yuan, showing improvement from the previous year when it had negative net assets [2]. - The revenue for Shanzi Smart Service reached 817 million yuan in 2024, with a net profit of 16.08 million yuan, slightly down from the previous year's profit [2][3]. Group 3: Company Financial Outlook - The company is projected to incur a loss of between 980 million yuan and 1.49 billion yuan in 2024, although this represents a narrowing of losses compared to the previous year [6]. - The losses are attributed to rising costs in the hybrid dual-clutch transmission project, historical debt interest expenses, and initial production costs in the new energy vehicle segment [6].

点评： 业务结构调整，增长韧性较强，外拓合同金额创新高，分红比例提升 1)业务结构调整，组织结构变革，经营效率有所提升。2024年公司物业管理/非业主增值/社区增值业务分 别实现收入116.7/19.6/27.1亿元，同比增速为+15.0%/-6.4%/-3.9%，非业主增值业务、社区增值服务（含家 装美居、车位销售及房屋经纪租赁等地产后周期业务）由于房地产行业持续收缩，发展速度有所减缓，而 基础物管业务则由于在管规模持续扩张，收入保持稳健增长。伴随市场竞争加剧，公司从组织模式、管理 体系与管理工具等维度，对成本结构进行优化调整，实现成本集约、产出高效，物管业务毛利率基本保持 稳定，同时管理费用同比下降8.5%，管理费用率同比下降1.2pct。 点击注册小程序 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告 ...

Investment Rating - The report maintains an "Accumulate" rating for the real estate industry [1] Core Views - The real estate market is showing signs of improvement with sales continuing to recover and various policy relaxations being introduced across multiple regions [1] - The report highlights a significant increase in year-on-year sales for both new and second-hand homes, indicating a positive trend in the market [1][2] Summary by Sections 1. Market Overview - The real estate sector saw a decline of 1.3% last week, outperforming the Shanghai Composite Index and the Wind All A Index, which fell by 1.8% and 2.0%, respectively [62] - In the new housing market, 36 cities recorded a total transaction area of 2.355 million square meters, a month-on-month decrease of 28.4% but a year-on-year increase of 17.0% [13] - The second-hand housing market in 15 cities saw a transaction area of 1.619 million square meters, down 21.7% month-on-month but up 56.9% year-on-year [21] 2. Inventory and Absorption - The cumulative inventory of new homes in 13 cities is 76.621 million square meters, with a month-on-month decrease of 0.7% and a year-on-year decrease of 12.6% [35] - The absorption cycle for new homes in these cities is 15.8 months, showing a slight improvement compared to previous periods [35] 3. Land Market - From March 31 to April 6, 2025, the land transaction area across 100 cities was 1.974 million square meters, reflecting a month-on-month decrease of 15.5% but a year-on-year increase of 103.0% [50] - The average land price was 825 RMB per square meter, down 69.0% month-on-month and 12.4% year-on-year [50] 4. Investment Recommendations - For real estate development, the report recommends companies such as China Resources Land, Poly Developments, and Binjiang Group, with a focus on companies with strong shareholder backing [8] - In property management, recommended companies include China Resources Vientiane Life, Greentown Service, and Poly Property [8] - For real estate brokerage, the report suggests focusing on leading platforms like Beike and regional leaders like I Love My Home [9]

每经AI快讯，济高发展（SH 600807，收盘价：2.44元）4月7日晚间发布公告称，近日，公司董事会收 到樊黎明先生的辞职报告，因个人工作原因，申请辞去公司董事及提名委员会委员、董事会秘书职务， 其辞职报告自送达董事会之日起生效，辞职后其不再担任公司其他职务，不存在应当履行而未履行的承 诺事项。樊黎明先生已按照规定平稳完成工作交接事宜，不会影响公司正常运作。 公司于2025年4月7日召开第十一届董事会第二十一次临时会议，审议通过《关于审议选举第十一届董事 会非独立董事候选人的议案》、《关于审议聘任董事会秘书的议案》，同意选举赵建国先生为第十一届 董事会非独立董事候选人，若赵建国先生经股东大会选举成为公司非独立董事，则由其接替离任董事樊 黎明先生担任公司董事会提名委员会委员职务，任期自股东大会审议通过之日起至第十一届董事会届满 之日止，该事项需提交公司股东大会审议；同意聘任杨继华先生为公司董事会秘书，任期自本次董事会 审议通过之日起至公司第十一届董事会届满之日止。 2024年1至6月份，济高发展的营业收入构成为：体外诊断占比57.33%，物业管理占比19.87%，贸易行 业占比18.36%，房地产及租赁占比 ...

本文来自微信公众号： 投中网 （ID：China-Venture） ，作者：张雪，题图来自：视觉中国 高端百货商场天花板的SKP，也要被卖了。 据悉，北京华联集团投资控股有限公司正在洽谈将其运营和开发的SKP出售给博裕资本。知情人士称，双方 已就SKP的管理和运营业务接近达成协议，该业务整体价值在40亿至50亿美元之间。不过，就相关商场物业 的归属还在讨论中。 对此，投中网向博裕资本进行求证，相关人员表示不予置评。 以下文章来源于投中网 ，作者张雪 投中网 . 投中网是领先的创新经济信息服务平台，拥有立体化传播矩阵，为创新经济人群提供深入、独到的智识 和洞见，在私募股权投资行业和创新商业领域拥有权威影响力。官网：www.chinaventure.com.cn 某种程度上，SKP的出售也成为了中国奢侈品市场日渐衰落的一个缩影。 数据显示，2024年中国内地高端消费市场规模同比下滑2%至1.63万亿元，其中个人奢侈品市场销售额预计 下降18%-20%。 SKP，中国高端商场的代名词 坐落在大望路的华贸中心综合体中的SKP，被全球各大企业总部、金融机构所包围，在这样的财富浓度下， SKP也不负众望，曾创下单日销售额 ...

地产开发业务剥离，持续经营业务营收37.26亿，同比增长33%。 ◎ 作者 / 沈晓玲、易天宇 核 心 观 点 【地产开发业务剥离上市平台，前9月地产合约销售下滑47%】 美的置业已于2024年10月22日从上市主体剥 离房地产开发及销售业务。2024年前9月，美的置业共实现合约销售金额约284亿元，较同期下降47%。据 2024年年报披露，美的置业的非持续经营业务税后溢利为亏损28亿。在此影响下，美的置业整体净利润为亏 损23.5亿。虽然年报中未有披露亏损原因，但结合当前大多数房企均有计提减值的因素来看，可能是由于拨备 存货跌价准备，或信用减值损失等等。 【保留业务营收增长33%，物业管理营收占比49%】 2024年美的置业持续经营业务的营业收入为37.26亿， 同比增长33%。从各业务占比来看，物业管理占比较大，达49%。其次是资产运营占比27%。在业绩会中管理 层表示，"未来三年内，物管服务及开发服务两者在上市平台中规模占比基本会保持在70%左右的水平。"毛利 率为35.7%；净利率为13%。管理层表示，预计2025年营收复合增长不低于25%，归母净利润复合增长不低于 20%。 【物管及开发服务依赖母公 ...