If you thought our angle on this company was interesting, you may want to check out our idea room, The Value Lab . We focus on long-only value ideas of interest to us, where we try to find international mispriced equities and target a portfolio yield of about 4% . We've done really well for ourselves over the last 5 years, but it took getting our hands dirty in international markets. If you are a value-investor, serious about protecting your wealth, our gang could help broaden your horizons and give some in ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 SEAZEN GROUP LIMITED 新城發展控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 責 任 公 司） （股 份 代 號：1030） 2026年1月未經審核營運統計數據 新城發展控股有限公司 房地產出租情況 於2026年1月，本 集 團 房 地 產 出 租 物 業 共179個，總 建 築 面 積 約1,652.40萬 平 方 米； 2026年1月份租金收入*約人民幣11.20億 元，商 業 運 營 收 入**約人民幣12.01億 元 （即 含 稅 租 金 收 入）。 *： 租 金 收 入 包 含 租 金、管 理 費、停 車 場、多 種 經 營 及 其 他 零 星 管 理 費 收 入。 **： 商 業 運 營 收 入 即 含 稅 租 金 收 入。 – 1 – 上 ...

十年未供应住宅用地的成都攀成钢板块，终于"上新"了！ 2月10日，成都春节前最后一场土拍落槌，锦江区攀成钢板块一宗纯住宅用地成功出让。 地块位于二环路东四段以东、绿地·锦天府南侧，面积约17.9亩，容积率2.5，起拍楼面价16500元/㎡。现场吸引4家房企竞拍，多轮竞价后，由锦江统建以 20300元/㎡竞得，溢价率约23%。值得一提的是，该地块为攀成钢板块自2015年以来的首宗住宅用地。 配套方面，宗地距地铁8、13号线净居寺站约600米；1公里范围内有锦华万达、文华广场、光环购物中心等商业体；教育归属锦江三区，区域内有龙舟路 小学、盐道街中学、七中育才汇源校区等优质学校（具体以教育局划分为准）。地块西侧毗邻加油站，北靠带底商住宅，东、南两侧为老旧小区，生活氛 围浓厚，但城市界面尚有提升空间。 图据寻圭云图 攀成钢板块上一次出让的住宅用地成交于2015年5月8日，距今日地块约500米，面积约22.57亩，由蓝润地产以楼面价7900元/㎡竞得，即现蓝润·泷门项 目。 板块内二手房供应充足，均价约3万元/㎡，不同项目价格分化显著：仁恒滨河湾三期、伊泰天骄等项目均价可超4万元/㎡，而刚需老旧小区均价约1万元/ ㎡左 ...

Core Insights - The opening of the Huawei Smart Living Museum in Suzhou aims to enhance consumer experience and stimulate local economic activity through technological innovation and consumption upgrades [1][3] Group 1: Event Overview - The Huawei Smart Living Museum, located in Suzhou's Vientiane World, spans over 3,000 square meters and features immersive experiences across various themes such as smart living, smart office, audio-visual entertainment, sports health, and smart travel [1][3] - The design of the store integrates Eastern aesthetics with modern technology, featuring a panoramic glass facade and a prominent staircase that symbolizes a dragon, enhancing its visual appeal [3] Group 2: Economic Impact - The museum's opening is part of a broader strategy to invigorate consumer spending in the region, particularly with the upcoming Lunar New Year, contributing to the creation of a new urban technology and leisure landmark [3][5] - Suzhou Vientiane World, developed by Huamao Group in collaboration with China Resources Land, encompasses approximately 140,000 square meters and hosts nearly 350 high-quality brands, with over 50% being flagship or concept stores [5] Group 3: Local Government Initiatives - The Gusu District is actively promoting a "first-store economy," attracting new brands to the area, with a significant number of first-store brands recognized at the municipal level [5][7] - To further stimulate holiday consumption, Gusu District plans various promotional activities for the 2026 Spring Festival, focusing on cultural and commercial synergies, including events like the "Su Yi New Year Goods Festival" [7]

CMBI Credit Commentary Fixed Income Daily Market Update 固定收益部市场日报 Trading desk comments 交易台市场观点 Yesterday, in the FRN space, we saw buying interests from real-money and PB accounts seeking to lock in yields before the upcoming Chinese New Year holiday on Australian, Chinese, European, Japanese and Korean bank/corporate FRNs. In the Middle East, BSFR 6.375 Perp and BSFR 35 edged 0.1pt higher; we maintain buy on these two issues. See our comments on BSFR yesterday. FABUH 34-35s were unchanged to 0.2pt higher. ...

9 February 2026 | 3:57PM CST Equity Research China Property: Housing trade-in program refined in Shanghai, more effectively supporting upgrade demand On February 2nd, Shanghai launched a new pilot secondary housing units trade-in program. Similar trade-in programs were launched in over 150 municipalities, including Shanghai since 2024. But we note there are several key differences of this new one vs. the others and believe the current one is more practical which could potentially speed up the scale and beco ...

Stress testing valuation downside, risk rewards remain attractive; reiterate Buy After hitting an all-time low (HK$19.12 on Sept 10, 2024) since this downturn that began in 2021, the share price of CRL has gained 51% after the Sept 24 policy stimulus, outperforming our developers coverage average by 20pt and MSCI China index by 5pt. While most investors agree with us on the strong outlook of the two major share price drivers, i.e. improving profitability/ROE of its new acquisitions and continuous market sha ...

10 February 2026 | 7:37AM CST Equity Research CHINA PROPERTY WEEKLY WRAP Week 6 Wrap - Slower turnover ahead of CNY but sentiment held steady Key highlights for the week: In line with the deceleration in leading indicators in recent weeks and seasonal effects ahead of CNY, market activities slowed broadly with primary volume falling 4% wow (22% below the average level recorded in the 2 weeks before CNY-2025), and secondary volume declining 3% wow (4% below the same pre-CNY 2025 level). Leading indicators al ...

The managed office facility, located at Tech Park One on Airport Road, spans about 165,290 sq ft and is designed to house around 1,520 seats. The lease covers the ground floor to the seventh floor of the building and commenced on January 15.Under the enterprise office services agreement, the Zurich-headquartered group’s subsidiary UBS The company has also paid a security deposit equivalent to six months’ rent, amounting to around Rs 23.8 crore. As part of the sub-lease agreement, UBS will also get external ...

2月9日，重庆发布22条稳楼市新政，从优化住房供给、降低购房成本、鼓励"卖旧买新"、盘活存量 等方面提出22条措施。 其中，在需求端从给予购房补贴、加大公积金及商业贷款支持力度、税收优惠等方面降低购房和换房成本，促 进住房消费，支持刚性和改善性购房需求。 另据报道，江苏省政府近日召开房地产从业人员座谈会，研究稳定提振房地产市场政策举措。江苏省省长刘小 涛表示，要动态完善支持政策，持续优化服务保障，进一步稳信心、稳市场、稳预期，着力稳定房地产市场， 加快构建房地产发展新模式。 重庆发布22条稳楼市新政 税收方面，新政落实住房"卖旧买新"个人所得税优惠政策。自2026年1月1日至2027年12月31日，对在全市范围 内出售自有住房并在现住房出售后1年内在市场重新购买住房的纳税人，对其出售现住房已缴纳的个人所得税 予以退税优惠。 2月9日，重庆市住建委联合相关部门印发了《关于发挥政策集成效应稳定房地产市场的通知》，从优化住房供 给、降低购房成本、鼓励"卖旧买新"等方面提出22条措施。 在需求端，新政从给予购房补贴、加大公积金及商业贷款支持力度、税收优惠等方面降低购房和换房成本，促 进住房消费，支持刚性和改善性购房需 ...