融创服务(01516)发布公告，于2026年1月8日，该公司斥资28.34万港元回购20万股股份，每股回购价格 为1.39-1.42港元。 ...

永升服务(01995)发布公告，于2026年1月8日，该公司斥资36.29万港元回购20万股。 ...

物业服务虽常被称为"关键小事"，却直接关系到千家万户的幸福感。如何破解物业管理中的信息不对称、服务不透明、监督不到位等难题？常州市住房和 城乡建设局以一场场别开生面的"物业项目经理直播述职"活动，给出了创新性的答案。这一创新举措，以"直播"为镜，以"述职"为笔，有效"制约"项目经 理人的履职行为，严格"约束"物业企业的管理服务标准，全面"促进"物业服务过程的公开化、透明化，重建业主信任。截至目前，十期直播活动不仅吸引 了线下数百名业主踊跃参与，更累计收获近五万人次的线上"云端"围观，将物业服务的"述职台"变成了凝聚民心、共商共建的"议事厅"。 小区活动 第五期直播中，来自上海永升物业的都珀花园项目经理高洁，生动诠释了如何用精细化、人性化的服务标准自我约束。她提出了构建"37℃温度社区"的理 念，但这并非空谈。在直播镜头前，她列举了一份涵盖10余项的"无偿增值服务清单"：为出差业主照料宠物、为双职工家庭临时接送孩子、甚至为学子打 印作业……这些服务深深嵌入日常生活场景。更关键的是，高洁展示了如何通过"设备开放日"、长期信息公示、永升活APP服务流程可视化等手段，将服 务标准从内部条款转化为业主可感知、可监督的公 ...

Investment Rating - The report recommends a positive investment outlook for the real estate sector, highlighting specific stocks in various categories such as development, commercial residential, property management, and cultural tourism [1]. Core Insights - The report emphasizes the shift in the real estate industry from a focus on quantity to a focus on quality, driven by the new requirements set forth during the "15th Five-Year Plan" period, which aims for high-quality development [1][13]. - It identifies six key tasks to achieve high-quality development, including optimizing affordable housing supply and enhancing property service quality [1][61]. Summary by Sections 1. High-Quality Development as a New Requirement - The report discusses the significant changes in the real estate market, transitioning from a supply-demand imbalance to a potential oversupply situation, necessitating a focus on high-quality development [3][6]. - It outlines the central government's shift in policy from reducing leverage and total volume to stabilizing the real estate market and promoting quality [6][7]. 2. Understanding High-Quality Development - The report defines high-quality development as essential for meeting the people's aspirations for a better life, advancing modernization, and facilitating the transformation of the real estate industry [22][24]. - It presents three major significances, four key requirements, and six essential tasks for high-quality development [21][28]. 3. Policy Expectations for the 15th Five-Year Plan - The report anticipates that future policies will focus on risk prevention, quality improvement, and transformation in the development sector [62]. - It emphasizes the need for a balanced approach between short-term market stabilization and long-term structural reforms [36][60]. 4. Six Key Tasks for High-Quality Development - The report outlines six tasks: optimizing affordable housing supply, promoting sustainable market development, reforming development and financing systems, enhancing housing quality, improving property service quality, and establishing a safety management system for the entire lifecycle of housing [61][62].

本报讯 （记者 张文奎） 日前，福州市关于使用住宅专项维修资金（以下简称"维修资金"）购买电梯专 项保险的新政落地，明确已交存维修资金的住宅小区，可按规定申请使用维修资金购买电梯专项保险， 保障范围为电梯保修期满后的维修、更新和改造。 电梯专项保险的保险周期为1年，到期后双方可视情况选择是否续保。电梯专项保险生效期间，申请人 不得再为已购买同类型维修项目保险的电梯申请使用维修资金（因自然灾害等因素导致保险不予赔付的 除外）。投保单元（楼栋）的维修资金应足够支付该电梯专项保险的1年费用。对于电梯保修期未满需 投保的，申请人可提前准备相关材料，在保修期届满前1个月提交保险合同、保费发票等材料至福州市 各区住建（房管）局申请审核，审核通过后由福州市住宅专项维修资金管理中心予以拨付。 据了解，电梯专项保险仅对电梯保修期满后的维修、更新和改造进行保障。电梯日常维护及电梯第三者 责任险仍由物业服务企业或其他管理单位按照合同约定承担。按照"谁受益、谁投保"原则，电梯专项保 险由福州市已建立维修资金账户的住宅小区相关业主、业主委员会、物业服务企业或者村（居）民委员 会（以下统称"申请人"）提出申请。经专有部分面积占比三分之二 ...

永升服务(01995)发布公告，于2026年1月7日，该公司斥资35.64万港元回购20万股股份，每股回购价格 为1.77-1.8港元。 ...

Core Viewpoint - The shares of Qifu Life Services (03686.HK) have been temporarily suspended from trading as of January 7, 2026, at 2:28 PM [1] Company Summary - Qifu Life Services announced the temporary suspension of its shares trading [1]

Group 1 - Property management fees have significantly decreased in various regions, with examples including Wuhan where fees dropped from 2.5 yuan per square meter to 1.1 yuan, and Chengdu where fees fell from 4.8 yuan to 3.5 yuan, a reduction of 27% [1] - The average collection rate for property management fees nationwide is approximately 70%, but it has been declining in recent years, impacting the financial stability of property management companies [1] - Major property management companies are experiencing layoffs, with Country Garden reducing its workforce by over 20,000 in the past two years, and other companies like China Overseas Property and Poly Property also making significant cuts [1] Group 2 - The reduction in workforce is primarily due to financial constraints, with 17 listed property management companies reporting related party fund occupation issues, averaging 18% of their revenue [2] - A notable incident involved Henan Jianye Property, where employees went on strike due to long-standing unpaid wages, despite a high collection rate of 99% for property fees [2] - Financial mismanagement is evident, with reports indicating that at least 120 million yuan in property fees have been redirected to group headquarters for real estate project payments, leading to severe cash flow issues for property management companies [3]

Group 1 - The demand for diverse living services is increasing due to an aging society, faster life pace, and growing needs for childcare and cleaning services [1] - Property service companies are entering communities to provide services, leveraging their proximity to residents and potential for continuous service development [1] - The "Quality Improvement Action for Property Services" is highlighted in the 15th Five-Year Plan, emphasizing the need for property service quality enhancement [1] Group 2 - Key areas for improving property service quality include maintenance of shared facilities, environmental upkeep, order maintenance, greening, and customer service response [2] - Digital and intelligent transformation is essential for property service enhancement, utilizing IoT and AI technologies to create smart property platforms for various services [2] - There are ongoing issues in property services, such as failure to fulfill contracts and encroachment on public benefits, necessitating concentrated rectification efforts [2] Group 3 - Property service companies are encouraged to extend their services into areas like elderly care, childcare, housekeeping, culture, and health, promoting a "Property Service + Life Service" model [3] - The property service sector is expected to experience significant growth, with opportunities for integrating traditional management with daily resident needs through resource consolidation and technology [3] - There is a call for optimizing the development environment for property services, increasing policy support, and enhancing regulatory frameworks to improve service quality [3]

证券研究报告 晨会 hyzqdatemark 2026 年 01 月 06 日 投资要点： 资料来源：聚源，华源证券研究所，截至2026年01月06日 华源晨会精粹 20260106 北交所 2025 年新股首日涨幅均值 368%，千万级账户 2025 年收益率预计 3.4%-- 北交所新股月度巡礼（2025 年 12 月）：2025 年共计 26 家公司完成上市，募资 75 亿元，全年募资显著超越 2024 年；12 月有 3 家公司上市，募资额 7.8 亿元，2025Q4 则整体上市 11 家（募资 24 亿元），北交所 IPO 节奏维持加速态势。首日涨幅：2025 年北交所 IPO 首日平均涨幅达到 368%，较 2024 年显著提升。12 月 3 家新上市公 司，首日平均涨幅达 463%；2025Q4 涨幅均值达到 413%，主要是大鹏工业首日上 涨超 12 倍、蘅东光首日上涨 878%带动。申购热度：从网上申购资金来看，2025 年平均达 6624 亿元，12 月平均达 7812 亿元、再创历史新高。网上中签率持续下探， 2025 年均值为 0.037%。打新竞争日益激烈，北交所新股稀缺性进一步凸显 ...