以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 公司公告汇总 新大正物业集团股份有限公司发布关于分红派息实施后调整回购股份价格上限的公告。自2025年6月6日 起，公司回购股份价格上限由不超过人民币13.96元/股调整为不超过人民币13.78元/股。公司决定使用 自有资金以集中竞价交易方式回购部分公司发行的人民币普通股股票，用于后续实施员工持股计划或股 权激励，回购资金总额不低于人民币1000万元、不超过人民币2000万元，回购价格不超过人民币13.96 元/股，回购期限为自公司董事会审议通过本次回购股份方案之日起不超过12个月。此外，公司2024年 度利润分配预案已获2024年年度股东大会审议通过，向全体股东每10股派发现金红利1.85元（含税）， 股权登记日为2025年6月5日，除权除息日为2025年6月6日。根据相关规定，本次权益分派实施完毕后， 公司将按照相关规定对回购价格上限进行相应调整。自本次权益分派除权除息之日（即2025年6月6日） 起，调整后的回购股份价格上限为13.78元/股。公司将根据回购进展情况及时履行信息披 ...

Group 1: Report Summary - Report industry: Real estate services [2] - Report research company: Electronic City [16] - Research date: May 30, 2025 [1][16] - Company representatives: Vice Chairman and President Zhang Yuwei, Vice President and Board Secretary Zhang Yi, Financial Controller Zhu Weirong, Independent Director Song Jianbo [16] Group 2: Core Views - The company is transforming from heavy - asset development to light - asset operation, focusing on technology service strategic transformation [24][25][26] - In 2024, the company's new technology service revenue was 916 million yuan, accounting for 43.4% of the operating income, and the company will continue to promote the transformation [24] - The company's infrastructure public offering REITs application materials were officially accepted on May 20, 2025, which is expected to raise 1 - 1.5 billion yuan, helping to revitalize assets and innovate financing methods [25] Group 3: Summary by Directory 01. Research Basic Situation - Research object: Electronic City, belonging to the real estate service industry, with a reception time of May 30, 2025 [16] 02. Detailed Research Institutions - The reception object is investors participating in the company's online 2024 annual and Q1 2025 performance briefing [19] 03. Research Institution Proportion - No relevant content provided 04. Main Content Data - In 2024, the company's operating income was 2.112 billion yuan, and the net profit attributable to shareholders of the listed company was - 1.58 billion yuan [23] - The company broadened financing channels by carrying out infrastructure public offering REITs issuance and application work and issuing 2.05 billion yuan of ultra - short - term financing bills in five installments in 2024 [23] - New technology service revenue in 2024 mainly includes rent, property fees from park operation services, income from entrepreneurship incubation and enterprise growth acceleration services, and information service income [23] - Regarding the large - scale reduction of shares by major shareholders who participated in the private placement in 2016, it is a normal capital market transaction behavior based on their own asset allocation and capital needs [24] - The company did not participate in Yandong Micro's 4 - billion - yuan private placement project [24] - The company's infrastructure public offering REITs application materials were officially accepted on May 20, 2025, with an estimated fundraising scale of 1 - 1.5 billion yuan, which is beneficial for revitalizing assets and innovating financing methods [25] - The company plans to transform to a light - asset model. For projects outside Beijing, it focuses on full - scale sales to accelerate capital recovery, while for projects in Beijing, it tends to hold and operate in the long - term [26] - In 2025, the company will promote multiple tasks, including deepening technology service transformation, building three major business platforms, optimizing the market - oriented management system, and strengthening refined fund management [26]

Group 1 - The core viewpoint of the article highlights Beike's financial performance, showing a revenue increase but a decline in net profit [1] - As of December 31, 2024, Beike's total revenue is projected to be 93.457 billion RMB, representing a year-on-year growth of 20.16% [1] - The company's net profit attributable to shareholders is expected to be 4.065 billion RMB, reflecting a year-on-year decrease of 30.91% [1] Group 2 - Beike Holdings Limited is a leading integrated online and offline real estate transaction and service platform in China [2] - The company has established platform infrastructure and standards to enhance service efficiency for consumers in second-hand and new housing transactions, rentals, and home services [2] - Beike operates the well-known real estate brokerage brand, Lianjia, which plays a crucial role in the company's platform and has over 23 years of operational experience since its establishment in 2001 [2]

5月27日，克而瑞宣布：中国房地产首个AI智能体——CRIC深度智联正式上线。除PC端 www.dichanai.com外，"CRIC深度智联"微信小程序同步推出。在AI Agent正在步入爆发 发展的初期，作为中国首个垂直领域AI智能体，CRIC深度智联依托克而瑞20年房地产行业 经验和数据积累与多模态大模型技术，打通数据整合、智能分析到内容生成全链路。不仅 会用地产思维进行思考分析，更会提供文章、报告等专业工作成果，为房地产人提供了降 本增效的"第二大脑"。 CRIC深度智联由克而瑞自主研发，是在多个AI大模型能力基础上的一次面向房地产行业的应用创 新。不同于通用智能体，其运用地产思维应对垂类需求，整合工程创新力、行业认知力、数据沉淀 力，是国内实现AI智能体行业闭环应用的首例。 正式上线的CRIC深度智联普通版拥有搜索、文章、报告、知识库四大功能。用户可免费使用搜索功 能，文章和报告按生成服务次数收费，当前有很大力度优惠。 可生成土地/住宅/商业等各类市场报告，根据指令自动生成大纲，收集资料，匹配数据，结论分析， 酷炫排版……工作全程可视化。用户不仅可随时介入调整思路更可以运用AI工具在线编辑并按需求 ...

点击注册小程序 查看完整报告 特别申明： 您可点击今日推送内容的第2条查看 【联想集团（0992.HK）】FY2025净利润稳健增长，ISG业务连续2个季度实现税前盈利——FY2025业绩点评 报告 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。 今 日 聚 焦 【房地产】地产持仓低配明显，持续关注优质标的——光大地产板块及重点公司跟踪报告 截至2025年一季度末，公募基金持有房地产业股票组合（证监会行业）总市值约548.4亿元，占净值比例 约0.17%，占股票投资市值比例约0.79%，相对于标准行业配置比例低配约0.49个百分点。 （何缅南） 2025-05-27 您可点击今日推送内容的第1条查看 【贝壳-W（2423.HK）】从交易走向居住——投资价值分析报告 贝壳前身是2001年成立的北京链家，2008年链家开始打造行 ...

Group 1 - The core viewpoint of the article highlights the impact of Trump's threats to impose tariffs on the EU and Apple, which has led to a significant decline in the U.S. stock market, particularly affecting major tech stocks like Apple [1][2] - The S&P 500 index has experienced a four-day decline, with Apple leading the drop among the tech giants, marking an eight-day losing streak [1] - Bill Ackman, a prominent hedge fund manager, has taken advantage of the market dip by buying Amazon shares after a significant price drop due to tariff concerns, indicating a potential undervaluation of the company [1][2] Group 2 - Ackman's investment strategy is supported by two main reasons: the resilience of Amazon Web Services (AWS) as the core profit driver and the limited impact of tariffs on Amazon's retail business, as less than 15% of its self-operated products are imported [2] - Ackman is recognized for his legendary investment acumen, having predicted the subprime mortgage crisis in 2007 and profiting significantly during the COVID-19 pandemic [2] - The article notes Ackman's strategic timing in selling Nike shares before the tariff announcement, raising questions about his investment decisions and market timing [2][4] Group 3 - Yang Dong, another notable fund manager, has made significant adjustments to his investment portfolio in April, reducing exposure to convertible bonds while increasing investments in sectors like real estate, power, and chemicals [5] - Yang's focus on domestic demand growth and the stabilization of the real estate market is seen as a key strategy for future investments [5] - He emphasizes that stocks remain a favorable investment choice compared to fixed-income assets, citing the potential for structural opportunities in consumption, healthcare, and new infrastructure [5] Group 4 - The first batch of new floating-rate funds has been rapidly approved, reflecting regulatory attention to enhancing the public fund industry [6][10] - These funds will feature a performance-based fee structure, linking management fees to investment performance, which is expected to improve active management capabilities and align interests between fund managers and investors [10][14] - The floating-rate funds are designed to encourage long-term investment by requiring a minimum holding period of one year to benefit from fee adjustments, thereby reducing short-term speculation [14]

2025 年 05 月 21 日 行业日报 中性/维持 房地产 房地产 太平洋房地产日报（20250521）：天津 23.39 亿元成交两宗地 走势比较 40% (20%) (8%) 4% 16% 28% 24/3/11 24/5/22 24/8/2 24/10/13 24/12/24 25/3/6 房地产 沪深300 子行业评级 | 和运营 | | | --- | --- | | 房 地 产 开 发 房地产服务 | 无评级 无评级 | 市场行情： 2025 年 5 月 21 日，今日权益市场各版块多数上涨，上证综指和 深证成指分别上涨 0.21%和 0.44%，沪深 300 和中证 500 分别上涨 0.47%和 0.18%。申万房地产指数下跌 0.53%。 个股表现： 推荐公司及评级 相关研究报告 <<太平洋房地产日报（20250520）：杭 州土拍收金42.49亿元>>--2025-05- 20 <<太平洋房地产日报（20250519）：厦 门多家银行首套房贷利率下限上调 5bp>>--2025-05-19 <<太平洋房地产日报（20250516）：杭 州临平区崇贤新城推出首宗不限房 价地块>>--20 ...

2025 年 05 月 21 日 行业日报 中性/维持 房地产 房地产 太平洋房地产日报（20250521）：天津 23.39 亿元成交两宗地 走势比较 40% (20%) (8%) 4% 16% 28% 24/3/11 24/5/22 24/8/2 24/10/13 24/12/24 25/3/6 房地产 沪深300 子行业评级 | 和运营 | | | --- | --- | | 房 地 产 开 发 房地产服务 | 无评级 无评级 | 推荐公司及评级 相关研究报告 房地产板块个股涨幅较大的前五名为空港股份、粤宏远 A、南国 置 业 、 荣 丰 控 股 、 阳 光 股 份 ， 涨 幅 分 别 为 10.04%/10.00%/5.05%/5.03%/3.24%； 个股跌幅较大的为华夏幸福、京基智农、电子城、华丽家族、宁 波富达，跌幅分别为-10.14%/-9.83%/-6.13%/-3.24%/-2.49%。 <<太平洋房地产日报（20250520）：杭 州土拍收金42.49亿元>>--2025-05- 20 <<太平洋房地产日报（20250519）：厦 门多家银行首套房贷利率下限上调 5bp>>--2025- ...

证券研究报告 房地产 城市更新框架落地，关注落地进展 华泰研究 2025 年 5 月 21 日│中国内地 动态点评 5 月 15 日，中共中央办公厅、国务院办公厅发布《关于持续推进城市更新 行动的意见》；5 月 20 日，住建部、自然资源部、国家发改委、财政部、金 融监管总局相关领导在国新办发布会上介绍了《意见》的有关情况。我们认 为城市更新是我国长期推进的重点行动之一，在当前市场背景下具备巩固房 地产市场稳定的抓手意义，但更重要的是其在中长期范畴对于推动城市高质 量发展、不断满足人民美好生活需要的重要意义。后续需要关注城市更新的 具体规模、资金配套、项目商业可行性和落地节奏等情况。 《意见》明确新时期持续推进城市更新行动的主要目标、任务和支撑保障 自十九届五中全会提出"实施城市更新行动"以来，我国已出台多项文件推进 行动落地。本次《意见》是在前期实践经验累积和新的时代背景下，对于城 市更新行动做出的最新部署。《意见》明确当前持续推进城市更新行动的主 要目标、任务和支撑保障：1、主要目标：到 2030 年城市更新行动实施取 得重要进展、城市更新体制机制不断完善；2、主要任务：包括加强既有建 筑改造利用、推进城 ...

• 家居行业正经历从新房市场向存量房市场转变，头部企业通过与定制软体 公司合作，解决消费者装修痛点。贝壳凭借流量优势和与 B 端合作，有望 在存量房市场中获得更大份额。 Q&A 2025 年 4 月中国房地产市场的主要数据表现如何？ 从贝壳数据透视：家居家装变革与 α 机遇捕捉 20250520 摘要 • 房地产市场整体承压，4 月环比下降城市增至 64 个，1-4 月房地产开发投 资同比降幅扩大至 10.3%。但新建商品房销售面积降幅收窄，一线城市房 价环比持平，市场呈现分化态势。 • 政策逐步释放预计将推动市场平衡，新开工面积下降或将导致未来新房供 应减少，一线及核心二线城市先行回暖，三四线城市仍面临压力，行业集 中度将进一步提升。 • 贝壳找房 2025 年第一季度 GTV 同比增长 34%至约 8,440 亿元，总收入 同比增长 37%，核心业务增长 28%。存量房业务受益于链家市占率提升， 新房业务 GTV 增速达 53%，市占率显著提升。 • 贝壳找房家装业务收入增速达 22%，毛利率接近 33%，北京、广州、郑 州等城市表现突出。4 月首次实现家装业务在城市层面盈亏平衡，得益于 硬装销售占比提升 ...