Core Insights - The company reported a decline in video revenue by 12.3% to EUR 260 million, attributed to sanctions on Russia, with an expected impact of EUR 16 million for the full year 2025-2026 [1] - Total revenue for the first half was EUR 592 million, stable on a like-for-like basis but down 2.4% on a reported basis, with LEO revenues increasing nearly 60% [3][4] - The company has made significant progress in its OneWeb satellite procurement and refinancing efforts, which are crucial for its strategic continuity [5][16] Financial Performance - "Other revenues" amounted to EUR 18 million, including EUR 8 million from hedging operations related to the IRIS² project [2] - Adjusted EBITDA for the half year was EUR 308 million, down 6.1% like-for-like, with a margin of 52.1% [13] - The net loss narrowed to EUR 236 million from EUR 873 million a year earlier, with lower depreciation and amortization contributing to this improvement [6][14] Connectivity Revenue Breakdown - Total connectivity revenues reached EUR 307 million, up 11.8%, with LEO revenues rising to EUR 110.5 million, offsetting a decline in GEO revenues [7][8] - Fixed connectivity revenue was EUR 132 million, up 17.2%, driven by growth in connectivity solutions [9] - Government services revenues increased by 7.7% to EUR 99 million, reflecting growth in LEO-enabled solutions [10] Strategic Developments - The company procured an additional 341 OneWeb satellites, bringing the total to 440, and signed a multi-launch agreement with MaiaSpace [19] - Management is advancing the IRIS² consortium work and is in a key phase with the European Commission [20] - The halted ground-segment sale is expected to positively impact EBITDA margins by up to 5 points [18] Refinancing and Capital Expenditure - A EUR 1.5 billion capital raise was completed, followed by rating upgrades from Moody's and Fitch [16] - Full-year gross CapEx guidance was revised to around EUR 900 million, down from a previous range of EUR 1.0 billion to EUR 1.1 billion [15] - Net debt was reported at EUR 1.3 billion, with a net debt to adjusted EBITDA ratio of 2.0x [17]

A joint venture (JV) of Helical and Places for London, the property arm of the UK's Transport for London, has secured a £220m ($300m) loan for Paddington Over Station Development (OSD) in London. The financing agreement was signed with PIMCO Prime Real Estate, acting on behalf of institutional investors. The JV secured the loan before completing the site purchase, scheduled for 25 February 2026 at £55m, with Helical’s share amounting to £28.1m. The Paddington OSD represents the second of three initial ...

具体来看，1月份，一线城市新建商品住宅销售价格环比下降0.3%，降幅与上月（2025年12 月）相同。其中，上海持平，北京、广州和深圳分别下降0.3%、0.6%和0.4%。 2月13日，统计局发布数据显示，2026年1月 ，70个大中城市商品住宅销售价格环比降幅总体 收窄、同比下降。 记者丨 张敏 编辑丨张伟贤 二手房方面，该机构指出，核心城市房东心态转变，导致挂牌量理性收缩，房源在架时长缩 短、流通效率提升，其中青岛、南昌等城市行业景气度超50荣枯线，成交端也基本延续2025年 10月以来的回升势头。 二线城市新房销售价格环比下降0.3%，降幅收窄0.1个百分点。三线城市新房销售价格环比下 降0.4%，降幅与上月相同。 二手房方面，一线城市二手住宅销售价格环比下降0.5%，降幅比上月收窄0.4个百分点。其 中，北京、上海、广州和深圳分别下降0.2%、0.4%、0.7%和0.6%。 二、三线城市二手住宅销售价格环比分别下降0.5%和0.6%，降幅分别收窄0.2个和0.1个百分 点。 广东省住房政策研究中心首席研究员李宇嘉表示，1月份二手房价指数环比跌幅收窄，主要源 于市场交易继去年四季度和年底的翘尾行情后，1 ...

*ST金科公告称，因2024年末净资产为负，2022 - 2024年连续三年扣非前后净利润均为负，公司股票被 实施退市风险警示并叠加其他风险警示。若2025年年报披露后出现特定情形，股票将面临终止上市风 险。公司预计2025年净利润300亿 - 350亿元，扣非后净利润 -350亿 - -290亿元，营收60亿 - 75亿元，年 末净资产50亿 - 70亿元。该数据未经审计，最终以年报为准。撤销风险警示仍存不确定性，提醒投资者 注意风险。 ...

在存量风险化解方面，宁夏将坚持市场化、法治化原则，持续推进停工房屋和闲置资产化解处置三年攻 坚行动，对相关资产分类施策处置，督促企业信守合同约定、履行交房责任，通过资产处置、股权合作 等方式筹措资金，以"一项目一方案一专班"的精准机制，切实维护购房者合法权益。 针对防范房地产新项目逾期交付风险、推动市场平稳健康发展的热点问题，宁夏住房和城乡建设厅党组 成员、副厅长张钊2月12日在银川表示，保交房是保障民生、维护购房人合法权益的关键，更是稳定市 场预期、防范化解房地产领域风险的核心抓手，宁夏将以此为根本出发点和落脚点，围绕构建房地产发 展新模式、推动行业高质量发展，通过"化存量、遏增量、防变量"综合举措，筑牢房地产市场健康发展 根基。 为从源头防范新增风险，宁夏将深化房地产基础性制度改革，支持有条件的城市先行先试，重点推行房 地产开发项目公司制、主办银行制和现房销售制——即"一项目一开发公司、一主办银行融资支持"，通 过现房销售实现"交房即交证""所见即所得"。对继续执行预售制的项目，宁夏将严格预售资金监管，严 防资金挪用，坚决查处违法违规行为，从制度层面遏制逾期交付风险。 在诉求响应与风险防控方面，宁夏将进一 ...

Core Viewpoint - Jericho Energy Ventures Inc. has entered into a letter of intent with Comstock Holding Companies to establish a strategic partnership focused on land acquisition and development around Jericho's energy assets in Oklahoma [1] Company Overview - Jericho Energy Ventures Inc. is an energy innovation company that integrates energy and AI infrastructure [1] - Comstock Holding Companies, Inc. is a diversified real estate organization with over 40 years of experience in various types of real estate investments and operations [1] Strategic Partnership - The partnership aims to create a Joint Venture (JV) for the acquisition and development of land [1] - The collaboration will leverage Comstock's expertise in real estate to enhance Jericho's existing energy assets [1]

Core Viewpoint - The "Spring Action" initiative, including the "New Spring Housing: Returning Home for Property" event, aims to attract returning residents to invest in real estate in their hometowns, showcasing a one-stop service for housing, home decoration, and appliances [1][2]. Group 1: Event Overview - The "Dream High-speed Rail: Bringing You Home" special train for returning residents was launched on February 7, attracting over a thousand returning individuals to explore housing options [1]. - The event featured 50 quality real estate projects alongside home decoration, furniture, and appliance companies, promoting a comprehensive service package [1]. Group 2: Government and Industry Involvement - Chen Yiming, President of the China Real Estate Association, visited the event, focusing on housing products aimed at returning residents and young talents [2]. - The integration of "joint exhibitions and sales" with the "New Spring Housing: Returning Home for Property" initiative was highlighted as a successful model for other cities to replicate [2]. Group 3: Participation and Impact - The "Returning Home: Helping You Settle Down" property season has been ongoing, with multiple housing fairs held at key locations, attracting tens of thousands of participants [2]. - The initiative collaborates with various local organizations to facilitate job opportunities and housing information for returning residents [2].

Company Overview - Hepsor AS is a developer of residential and commercial real estate operating in Estonia, Latvia, and Canada [3] - The company has created a total of 2,003 homes and nearly 44,787 square meters of commercial space over fourteen years [3] - Hepsor is recognized as the first developer in the Baltic states to implement innovative engineering solutions for energy-efficient and environmentally friendly buildings [3] Project Details - Hepsor E18 SIA signed a loan agreement for 5.25 million euros to finance the construction of the Ķiršu Kalna Mājas residential project [1] - The project includes the construction of two apartment buildings with a total of 54 apartments, with a total development cost of 8.5 million euros [2] - Construction and sales have already commenced, with a planned completion date in the first quarter of 2027 [2] - At the time of the loan agreement signing, 41% of the apartments had been reserved or pre-sold [2] Future Developments - Hepsor has completed a total of 404 homes in Latvia, with 98% sold [2] - The company expects to complete more than 500 new homes in the coming years [2] - The company's portfolio includes 25 development projects with a total area of 178,200 square meters [3]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The macroeconomic environment in Chengdu shows a GDP of 4,148.9 billion CNY, with a third industry growth rate of 6.0% and a retail sales growth rate of 6.5% [4][6][8] - The average disposable income for urban residents in Chengdu is 44,507 CNY [10] - The real estate development investment growth rate in Chengdu is -0.2%, indicating a challenging market [14] - The office market in Chengdu has a total stock of 3,473,265 square meters, with an average rent of 84.00 CNY per square meter per month, and a vacancy rate of 31.8% [19][35] - The retail market has a total stock of 8,498,923 square meters, with an average rent of 585.00 CNY per square meter per month, and a vacancy rate of 8.68% [40][54] Summary by Sections Macroeconomic Overview - Chengdu's GDP is 4,148.9 billion CNY, with a third industry growth rate of 6.0% and retail sales growth of 6.5% [4][6][8] - The average disposable income for urban residents is 44,507 CNY [10] Real Estate Market - Real estate development investment growth rate in Chengdu is -0.2% [14] - Major land transactions in 2025 include residential land in various districts, with prices ranging from 16,500 to 21,500 CNY per square meter [17] Office Market Overview - The office market has a total stock of 3,473,265 square meters, with an average rent of 84.00 CNY per square meter per month and a vacancy rate of 31.8% [19][35] - The market has not recorded any new supply in the last quarter, and the net absorption has turned negative for the first time [35] - The financial district is expected to see significant new projects entering the market, which may create pressure on supply and demand balance [35] Retail Market Overview - The retail market has a total stock of 8,498,923 square meters, with an average rent of 585.00 CNY per square meter per month and a vacancy rate of 8.68% [40][54] - The market is expected to see a slowdown in new supply due to some projects being stalled [54] - International brands are expanding their presence in Chengdu, indicating strong consumer potential [54]

Group 1: New Supermarket Opening - A new supermarket named "Wanfuxian Life Supermarket" opened in Tiexi District, Shenyang, on February 10, covering an area of 4,000 square meters, providing a new option for residents' New Year shopping [1][3] - The supermarket is not part of a well-known chain but is the first store developed locally in Shenyang, entering the competitive market of the Xinghua Street business district [3][6] - The store offers a wide range of daily necessities, including fresh produce, snacks, household goods, beverages, and staple foods, and has introduced a membership benefit for free parking for three hours to attract customers [3][5] Group 2: Market Competition - Tiexi District is densely populated and has a rich commercial landscape, with intense competition from various supermarkets and convenience stores within a one-kilometer radius of the new supermarket [6][7] - The new supermarket faces significant challenges in establishing itself in a highly competitive retail environment, requiring a clear market positioning and potentially unique product offerings or differentiated service experiences to stand out [6][9] Group 3: Ongoing Commercial Upgrades - The opening of "Wanfuxian Life Supermarket" is part of a broader upgrade of the Tiexi New Mart, which is undergoing renovations to rejuvenate the shopping center and attract more visitors [9] - The renovation includes the introduction of well-known restaurant brands, aiming to revitalize the shopping center and enhance its appeal in a rapidly evolving commercial landscape [9]