瑞安房地产(00272)发布公告，2025年年度，累计合约物业销售额达到人民币79.16亿元，其中包括住宅 物业合约销售额人民币72.46亿元和商业物业合约销售额人民币6.70亿元。合约物业销售累计已出售总建 筑面积为130,466平方米，平均售价为每平方米人民币6.07万元。另外，有4,003个车位于2025年年度售 出。 另外，除以上报告的合约物业销售额，截至2025年12月31日止，本集团取得认购销售总额为人民币6.39 亿元，预计将陆续于未来月份转成正式合约物业销售。 2025年下半年，合约物业销售额达到人民币44.43亿元，其中包括住宅物业合约销售额人民币39.56亿元 和商业物业合约销售额人民币4.87亿元。已出售建筑面积为67,932平方米，平均售价为每平方米人民币 6.54万元。另外，有2,929个车位于2025年下半年售出。 ...

2025年下半年，合约物业销售额达到人民币44.43亿元，其中包括住宅物业合约销售额人民币39.56亿元 和商业物业合约销售额人民币4.87亿元。已出售建筑面积为6.79万平方米，平均售价为每平方米人民币 65,400元。另外，有2,929个车位于2025年下半年售出。另外，除以上报告的合约物业销售额，截至2025 年12月31日止，集团录得认购销售总额为人民币6.39亿元，预计将陆续于未来月份转成正式合约物业销 售。 格隆汇1月9日丨瑞安房地产(00272.HK)发布公告，2025年年度，累计合约物业销售额达到人民币79.16 亿元，其中包括住宅物业合约销售额人民币72.46亿元和商业物业合约销售额人民币6.70亿元。合约物业 销售累计已出售总建筑面积为13.05万平方米，平均售价为每平方米人民币60,700元。另外，有4,003个 车位于2025年年度售出。 ...

2025年下半年，合约物业销售额达到人民币44.43亿元，其中包括住宅物业合约销售额人民币39.56亿元 和商业物业合约销售额人民币4.87亿元。已出售建筑面积为67,932平方米，平均售价为每平方米人民币 6.54万元。另外，有2,929个车位于2025年下半年售出。 另外，除以上报告的合约物业销售额，截至2025年12月31日止，本集团取得认购销售总额为人民币6.39 亿元，预计将陆续于未来月份转成正式合约物业销售。 智通财经APP讯，瑞安房地产(00272)发布公告，2025年年度，累计合约物业销售额达到人民币79.16亿 元，其中包括住宅物业合约销售额人民币72.46亿元和商业物业合约销售额人民币6.70亿元。合约物业销 售累计已出售总建筑面积为130,466平方米，平均售价为每平方米人民币6.07万元。另外，有4,003个车 位于2025年年度售出。 ...

田田曾于2022年5月至2025年6月担任某新能源物流公司的首席财务官；于2020年10月至2022年2月担任水滴公司财务副总裁；于2016年7月至2020年9月在 Zebra Global Capital担任执行董事；于2015年3月至2016年7月担任去哪儿网财务总监；于2011年10月至2015年3月担任世纪互联宽带数据中心有限公司财务 高级经理。 并于2006年8月至2010年7月担任毕马威华振会计师事务所的审计师，其后晋升为高级审计师，并开始其职业生涯。田田于2004年7月获得清华大学电气工 程及其自动化专业的工学学士学位，亦于2006年7月获得清华大学管理科学与工程专业的管理学硕士学位。 公开资料显示，碧桂园服务控股有限公司创立于1992年，2018年6月19日在香港交易所主板上市，2020年全面升级品牌。碧桂园服务为住宅、商业物业、 写字楼、产业园、政府大楼医院、学校及其他公共设施等多种业态提供服务。 业绩方面，今年上半年碧桂园服务实现营收231.9亿元，同比增长10.16%；归母净利润9.966亿元，同比减少30.81%。 编辑吴怡漪责编朱峰校审宋华 12月7日，碧桂园服务(06098)发布公 ...

Core Insights - National Electric Holdings (00213) reported a revenue of HKD 285 million for the six months ending September 30, 2025, representing a year-on-year increase of 13.4% [1] - The net profit for the same period was HKD 23.562 million, reflecting a year-on-year growth of 10.4% [1] - Basic earnings per share were recorded at HKD 0.0257 [1] Business Performance - The watch manufacturing and watch accessory trading segment showed slight improvement compared to the same period last year [1] - The group's premium commercial property investments performed well, with satisfactory results [1]

Core Viewpoint - NATIONAL ELEC H (00213) reported a revenue of HKD 285 million for the six months ending September 30, 2025, reflecting a year-on-year growth of 13.4% [1] - The net profit for the same period was HKD 23.562 million, showing a year-on-year increase of 10.4% [1] - Basic earnings per share were reported at HKD 0.0257 [1] Revenue Performance - The revenue of HKD 285 million represents a 13.4% increase compared to the previous year [1] Profitability - The net profit of HKD 23.562 million indicates a 10.4% growth year-on-year [1] - Basic earnings per share stood at HKD 0.0257 [1] Segment Performance - The watch manufacturing and watch accessories trading segment showed slight improvement compared to the same period last year [1] - The performance of the premium commercial property investment segment was satisfactory, contributing positively to overall results [1]

Core Viewpoint - The report from CMB International highlights the asymmetric recovery opportunities in the Hong Kong real estate market, indicating that the recovery will be a gradual process encompassing various asset sub-sectors [1] Group 1: Market Recovery Insights - The recovery of the Hong Kong real estate market is expected to be a multi-faceted process rather than a singular event [1] - Key catalysts for the market recovery include improvements in macroeconomic uncertainty, significant policy easing, and the return of fundamental demand drivers such as demographic trends [1] Group 2: Investment Recommendations - CMB International recommends New World Development (00016) and Link REIT (00823) as preferred picks for residential and commercial properties, respectively, with target prices set at HKD 111.7 and HKD 45.7 [1] - The firm anticipates that investors will prioritize the recovery of the residential sector, followed by high-quality retail assets and core office spaces [1] Group 3: Rental and Price Projections - Continuous population inflow in Hong Kong is expected to drive housing demand, particularly in the rental market [2] - Rental levels are projected to increase by approximately 3-5% in 2025, with annual growth of about 3% in 2026 and 2027 [2] - Residential prices are forecasted to rise by 3-5% in 2025, 5% in 2026, and 5% in 2027, driven by positive net rental returns and interest rate cuts [2]

Core Insights - Guangzhou's horse racing track land is entering the compensation phase, with a total compensation amount of approximately 10 billion yuan, indicating significant progress in the land's redevelopment [1][2] - The land, located in the prime area of Zhujiang New Town, is considered a "rare piece" and is expected to invigorate the Guangzhou land market, with potential listing for sale in the first half of next year [1][2] - The land's redevelopment plan includes a total construction area of 730,000 square meters, comprising 220,000 square meters for high-end residential, 500,000 square meters for commercial, educational facilities, and public spaces [2][3] Company Involvement - Yuexiu Group is the largest shareholder in the horse racing track project, holding a 49.85% stake, and is actively involved in the development and infrastructure enhancement of the area [3] - The total investment for the urban space improvement project in Zhujiang New Town, where the horse racing track is located, is approximately 15.12 billion yuan [3] Market Trends - Guangzhou's land market has seen a significant increase in supply, with 12 plots listed this month, primarily in core areas, indicating a potential stabilization in the market [1][5] - The overall land supply in Guangzhou has been low in the first three quarters of the year, with a 39.51% year-on-year decrease in planned residential land area [5] - Analysts predict that the introduction of high-quality land will stimulate market demand and lead to a recovery in the real estate sector, particularly through the development of high-end residential projects [5]

Core Insights - Future Bright (00703) reported an unaudited profit attributable to owners of approximately HKD 8 million for Q3 2025, representing a year-on-year increase of about 17.6% compared to HKD 6.8 million in Q3 2024 [1] - For the nine months ending September 30, 2025, the company achieved an unaudited profit attributable to owners of approximately HKD 16.6 million, a significant increase of about 127.4% from HKD 7.3 million in the same period of 2024 [1] - The increase in revenue during this period was driven by a rise in visitor numbers to Macau and Hong Kong, resulting in a revenue growth of approximately 1.1% [1] Financial Performance - The profit for the nine-month period was primarily attributed to the food and beverage business, which generated a profit of approximately HKD 8 million; the food souvenir business, which contributed about HKD 10.1 million; and the property investment business, which yielded a profit of around HKD 3.8 million [1] - The increase in profit attributable to owners was mainly due to the rise in revenue [1] Property Valuation - During this period, the company recorded a net fair value loss of approximately HKD 3.5 million on its commercial property located near tourist hotspots at the Rua da Igreja de São Paulo in Macau, compared to no such loss in 2024 [1]

Core Viewpoint - FUTURE BRIGHT (00703) reported a significant increase in profit for the third quarter of 2025, with an unaudited profit attributable to the company's owners of approximately HKD 8 million, up 17.6% from HKD 6.8 million in the same quarter of 2024 [1] Financial Performance - For the nine months ending September 30, 2025, the company achieved an unaudited profit attributable to the owners of approximately HKD 16.6 million, compared to HKD 7.3 million in the same period of 2024, representing a growth of approximately 127.4% [1] - The increase in profit during this period was primarily driven by the food and beverage business, which generated a profit of approximately HKD 8 million, the food souvenir business with a profit of approximately HKD 10.1 million, and the property investment business with a profit of approximately HKD 3.8 million [1] Revenue Growth - The company's revenue experienced a growth of approximately 1.1% during the period, attributed to an increase in visitor numbers in Macau and Hong Kong [1] Property Valuation - During this period, the company recorded a fair value loss of approximately HKD 3.5 million on its main investment property located near tourist hotspots in Macau, compared to no such loss in 2024 [1]