Core Viewpoint - The stock of Xinda Zheng has shown a mixed performance in recent trading, with a year-to-date increase of 34.98% but a slight decline in the last five and twenty trading days [1][2]. Group 1: Stock Performance - On November 27, Xinda Zheng's stock rose by 2.03%, reaching a price of 12.05 yuan per share, with a trading volume of 17.87 million yuan and a turnover rate of 0.71% [1]. - Year-to-date, Xinda Zheng's stock has increased by 34.98%, while it has decreased by 1.23% over the last five trading days and by 0.33% over the last twenty trading days [1]. - The company has appeared on the "龙虎榜" (a stock trading leaderboard) twice this year, with the most recent appearance on September 29, where it recorded a net buy of 11.26 million yuan [1]. Group 2: Financial Performance - For the period from January to September 2025, Xinda Zheng reported a revenue of 2.272 billion yuan, reflecting a year-on-year decrease of 11.82%, and a net profit attributable to shareholders of 104 million yuan, down 2.97% year-on-year [2]. - The company has distributed a total of 381 million yuan in dividends since its A-share listing, with 197 million yuan distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, Xinda Zheng had 15,200 shareholders, an increase of 6.68% from the previous period, with an average of 14,059 circulating shares per shareholder, a decrease of 6.26% [2]. - Among the top ten circulating shareholders, Dongfanghong Yuanjian Value Mixed A (010714) is the seventh largest, holding 2.8237 million shares, an increase of 90,100 shares from the previous period [3].

Core Viewpoint - Country Garden Services has been actively repurchasing its shares, indicating a strategy to support its stock price amid market fluctuations [2][3]. Share Buyback Summary - On November 26, the company repurchased 690,000 shares at a price range of HKD 6.480 to HKD 6.550, totaling HKD 4.5022 million [2]. - The stock closed at HKD 6.500 on the same day, reflecting a decline of 1.22% with a total trading volume of HKD 51.3616 million [2]. - Since November 18, the company has conducted buybacks for seven consecutive days, accumulating a total of 6.452 million shares and a total expenditure of HKD 40.5769 million, during which the stock price increased by 2.04% [2]. Year-to-Date Buyback Activity - Year-to-date, the company has executed 48 buybacks, acquiring a total of 23.518 million shares for a cumulative amount of HKD 150 million [3]. - The detailed buyback activity includes various dates, share quantities, and price ranges, showcasing a consistent effort to stabilize the stock price [3][4].

证券日报网讯南都物业（603506）11月26日在互动平台回答投资者提问时表示，公司通过赛智助龙基金 间接持股云深处，公司持有赛智助龙基金33%股权，该基金持有云深处1.0638%股权。 ...

绿城服务(02869)发布公告，于2025年11月26日该公司斥资94.73万港元回购20.4万股，回购价格为每股 4.61-4.67港元。 ...

Core Viewpoint - The 23rd China International Urban Construction Expo is being held in Beijing, showcasing Shandong Province's experiences in enhancing property service quality [1][3] Group 1: Event Overview - The expo is hosted at the Shougang International Exhibition Center from November 6 to 9 [1] - The theme of the expo is "People's City, Happy Home - Building Innovative, Livable, Beautiful, Resilient, Civilized, and Smart Cities" [3] Group 2: Shandong Province Initiatives - Shandong Province presented various initiatives such as "Good Service Standards for Residential Communities" and "Exploring Flexible Pricing Models for Property Services" [3] - The province's efforts include activities like "Supporting Communities, Assisting Property Management, and Benefiting People's Livelihoods" [3] - The initiatives aim to enhance the "Qilu Red Property" construction and explore new coordination models among community party organizations, neighborhood committees, and property enterprises [3] Group 3: Broader Context - The expo aims to showcase innovative practices in building quality housing, urban renewal, urban governance, and empowering high-quality urban development through new productive forces [3]

作者 | 第一财经 马一凡 以40亿美元拿下星巴克中国控股权的博裕投资又一次站到了市场的聚光灯下。 除了收购星巴克中国股权，这家仅成立14年的另类资产管理公司，还是中国规模第一大物业企业万物云 的第二大股东，同时也是管理面积超2亿平方米的金科服务的控股股东，并且博裕正在寻求私有化金科 服务。 在房地产领域，博裕投资偏好运营型、服务型的资产，涉足高端商业、物业管理、物流仓储、数据中心 等多个板块，实践其"逆周期控股、顺周期退出"的PE打法。 一笔耗时四年的收购 不久前，金科服务（09666.HK）发布公告称，其控股股东及要约人博裕投资提出经修订的无条件强制 性现金要约，拟收购公司全部要约股份，并建议撤销上市地位。若相关退市决议获通过且条件达成，金 科服务将从香港联交所除牌，成为博裕投资旗下的私人公司，其5年港股上市历程或将宣告终止。 2025.11.26 本文字 数：2360，阅读时长大约4分钟 金科服务是一家物业管理服务公司，原本属于渝系房企金科股份旗下，自2021年引入博裕投资作为战略 投资者后，博裕一步步"吃下"金科服务，目前已经是其第一大股东。 截至目前，金科服务全国管理面积超过2亿平方米。2024年该 ...

2025.11. 26 本文字数：2360，阅读时长大约4分钟 作者 | 第一财经 马一凡 以40亿美元拿下星巴克中国控股权的博裕投资又一次站到了市场的聚光灯下。 除了收购星巴克中国股权，这家仅成立14年的另类资产管理公司，还是中国规模第一大物业企业万 物云的第二大股东，同时也是管理面积超2亿平方米的金科服务的控股股东，并且博裕正在寻求私有 化金科服务。 在房地产领域，博裕投资偏好运营型、服务型的资产，涉足高端商业、物业管理、物流仓储、数据中 心等多个板块，实践其"逆周期控股、顺周期退出"的PE打法。 一笔耗时四年的收购 不久前，金科服务（09666.HK）发布公告称，其控股股东及要约人博裕投资提出经修订的无条件强 制性现金要约，拟收购公司全部要约股份，并建议撤销上市地位。若相关退市决议获通过且条件达 成，金科服务将从香港联交所除牌，成为博裕投资旗下的私人公司，其5年港股上市历程或将宣告终 止。 金科服务是一家物业管理服务公司，原本属于渝系房企金科股份旗下，自2021年引入博裕投资作为 战略投资者后，博裕一步步"吃下"金科服务，目前已经是其第一大股东。 截至目前，金科服务全国管理面积超过2亿平方米。2024年 ...

Core Viewpoint - The stock price of Kinko Service (09666.HK) surged over 17% after a nearly month-long suspension, reflecting investor optimism towards the latest acquisition offer from Boyu Capital, which aims for privatization and delisting [1][2] Group 1: Acquisition Offer Details - Boyu Capital proposed a dual-tier pricing structure for the privatization of Kinko Service, with a base offer price of HKD 6.67 per share and an increased offer price of HKD 8.69 per share, representing a 30% price difference [2][3] - To receive the higher price, shareholders must approve the delisting resolution with at least 75% of independent shareholders voting in favor and no more than 10% opposing, while Boyu Capital needs to secure acceptance from at least 90% of unrelated shares [2] - Boyu Capital and its concerted parties currently hold approximately 378 million shares, accounting for about 63.29% of Kinko Service's total issued shares, indicating a need for an additional 32.3% of unrelated shares to meet delisting conditions [2] Group 2: Investment Logic and Strategy - Boyu Capital's investment in Kinko Service is a result of long-term strategic planning, having gradually increased its stake since becoming the largest shareholder in December 2021 [4] - The total investment by Boyu Capital and its concerted parties in Kinko Service has exceeded HKD 40 billion, with potential total expenditures reaching HKD 77 billion if the privatization is successful [4][6] - Boyu Capital's approach aligns with its long-term value investment strategy, focusing on acquiring quality assets during industry downturns and aiming for business restructuring and value enhancement [6] Group 3: Kinko Service's Financial Performance - Kinko Service, once the largest property management company in Southwest China, has seen its stock price decline over 90% from its peak of HKD 85 per share, reflecting significant market challenges [7] - The company reported revenues of approximately HKD 50 billion, HKD 49.8 billion, and HKD 45.9 billion from 2022 to 2024, with cumulative losses nearing HKD 34 billion [7] - However, in the first half of 2025, Kinko Service showed signs of recovery with revenues of about HKD 23.4 billion and a net profit of approximately HKD 65 million, indicating potential for future growth [7][8] Group 4: Industry Context and Trends - The privatization of Kinko Service is indicative of broader adjustments within the Hong Kong property management sector, which has faced significant valuation declines amid a challenging real estate market [9] - Boyu Capital's move to privatize aims to escape regulatory constraints and market pressures associated with being a public company, allowing for more efficient decision-making and reduced compliance costs [9] - The transaction highlights a potential trend of similar privatization efforts among undervalued property management firms in the current market environment [10][11]

除了收购星巴克中国股权，这家仅成立14年的另类资产管理公司，还是中国规模第一大物业企业万物云 的第二大股东，同时也是管理面积超2亿平方米的金科服务的控股股东，并且博裕正在寻求私有化金科 服务。 在房地产领域，博裕投资偏好运营型、服务型的资产，涉足高端商业、物业管理、物流仓储、数据中心 等多个板块，实践其"逆周期控股、顺周期退出"的PE打法。 一笔耗时四年的收购 不久前，金科服务（09666.HK）发布公告称，其控股股东及要约人博裕投资提出经修订的无条件强制 性现金要约，拟收购公司全部要约股份，并建议撤销上市地位。若相关退市决议获通过且条件达成，金 科服务将从香港联交所除牌，成为博裕投资旗下的私人公司，其5年港股上市历程或将宣告终止。 金科服务是一家物业管理服务公司，原本属于渝系房企金科股份旗下，自2021年引入博裕投资作为战略 投资者后，博裕一步步"吃下"金科服务，目前已经是其第一大股东。 截至目前，金科服务全国管理面积超过2亿平方米。2024年该公司营收超过45亿元，但是归母净利润亏 损接近6亿元。 根据房地产研究机构克而瑞发布的中国物业服务企业在管规模榜单，截至2024年末，金科服务的管理规 模在全国物企 ...

（文章来源：证券时报网） 碧桂园服务回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.11.25 | 50.00 | 6.570 | 6.560 | 328.20 | | 2025.11.24 | 47.00 | 6.400 | 6.400 | 300.80 | | 2025.11.21 | 179.20 | 6.250 | 6.230 | 1118.72 | | 2025.11.20 | 110.00 | 6.190 | 6.180 | 680.70 | | 2025.11.19 | 100.00 | 6.200 | 6.150 | 617.40 | | 2025.11.18 | 90.00 | 6.300 | 6.220 | 563.65 | | 2025.11.14 | 30.00 | 6.380 | 6.370 | 191.25 | | 2025.11.05 | 23.90 | 6.200 | 6.150 | 147.95 | | 2025.11.04 | ...