中经记者 陈婷 赵毅 深圳报道 近日，物业管理行业头部企业碧桂园服务（6098.HK）宣布更换公司首席财务官（CFO），"老将"黄鹏 因为需要投入更多精力和时间管理集团孵化业务，已辞任公司CFO一职，自2025年12月5日起生效。 与此同时，曾担任新能源物流公司CFO并在水滴公司、去哪儿网等多家纳斯达克上市公司担任主要财务 负责人的田田获委任为碧桂园服务CFO，全面负责公司财务管理及资本市场工作。 《中国经营报》记者获悉，上述人事变动伴随碧桂园服务业务板块调整。该公司一份内部文件显示，集 团决定对组织架构进行系统性调整，基础物业管理板块、新业务成长板块及职能服务板块统一整合 为"大物业板块"；原战略孵化业务板块更名为"孵化业务板块"。其中，黄鹏将继续负责孵化业务板块的 日常管理工作。 碧桂园服务相关负责人对记者表示，此次组织架构调整不涉及人员裁撤，主要目的是强化公司核心能 力、激发组织活力、明确权责分工，为公司的长期稳健发展与市场竞争力提升奠定坚实基础。 "孵化业务板块"定位为多元增量成长曲线，包括赋能、提效、规范化管理宝石花、商管集团、碧然环境 等现有独立经营业务，以及研究并孵化创新业务。 有业内分析人士认 ...

"十四五"中国物业管理行业市场总结 （一）发展环境：融入国家战略，强化市场规范，回归服务本源 1. 行业定位校准：明确"质量提升"核心主线，参与城市治理和民生保障 2025年是"十四五"的收官之年，也是"十五五"的谋篇之年。站在承前启后的关键节点，我们需系统复盘过去五年的发展成果， 精准把握国家"十五五"战略方向与行业脉络，聚焦核心，明确路径，为打赢"十五五"转型升级攻坚战奠定坚实基础。 经历"十四五"前期的多元探索和高速发展，行业逐步转向注重服务品质、理性务实的发展阶段。"十四五"期间，行业从"其他服 务业"被调整为"鼓励类-商业服务业"，产业地位提升，标志着国家层面对物业管理行业认知的深化和战略定位的精准化。步 入"十五五"，行业将明确"质量提升"发展主线，同时成为城市治理和民生保障的参与者，兼顾经济属性和社会属性。 图："十四五"以来物业管理行业定位变化 "十四五"期间，物业企业持续探索多元服务，由"物业服务保障者"逐步向"生活服务提供商"转变。2020年10月，《中共中央关于 制定国民经济和社会发展第十四个五年规划和二〇三五年远景目标的建议》提到：推动生活性服务业向高品质和多样化升级， 加快发展健康、 ...

Group 1 - The core business of the company is urban services and cultural sports operations, and it has not yet entered the elderly care industry [1]

截至发稿，招商蛇口市值为833亿元。 每经头条（nbdtoutiao）——秒光、售罄！银行大额存单成稀缺资源，2%以上产品很难抢，有的门槛高 达1000万元！专家：存款利率或长期下行 （记者 曾健辉） 每经AI快讯，招商蛇口（SZ 001979，收盘价：9.24元）12月5日晚间发布公告称，公司第四届2025年第 八次董事会临时会议于2025年12月5日以通讯方式召开。会议审议了《关于提名第四届董事会非独立董 事候选人的议案》等文件。 2025年1至6月份，招商蛇口的营业收入构成为：开发业务占比77.54%，城市服务占比15.75%，资产运 营占比6.71%。 ...

Core Viewpoint - Tianjian Group's stock price has shown volatility, with a recent decline of 2.13% and a total market capitalization of 7.717 billion yuan, reflecting mixed investor sentiment and market conditions [1]. Financial Performance - For the period from January to September 2025, Tianjian Group reported a revenue of 9.959 billion yuan, representing a year-on-year growth of 7.79%. However, the net profit attributable to shareholders was 20.129 million yuan, a significant decrease of 93.87% compared to the previous year [2]. Stock Market Activity - As of November 21, Tianjian Group's stock price was 4.13 yuan per share, with a trading volume of 1.01 billion yuan and a turnover rate of 1.29%. The stock has increased by 2.99% year-to-date but has seen a decline of 6.98% over the last five trading days [1]. - The net outflow of main funds was 5.6256 million yuan, with large orders showing a buy of 18.65% and a sell of 23.02% [1]. Shareholder Information - As of September 30, 2025, the number of shareholders for Tianjian Group was 41,400, a decrease of 0.98% from the previous period. The average circulating shares per person increased by 0.99% to 45,081 shares [2]. - The company has cumulatively distributed 4.909 billion yuan in dividends since its A-share listing, with 1.252 billion yuan distributed over the last three years [3]. Institutional Holdings - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 15.4975 million shares, a decrease of 5.9438 million shares from the previous period. Other notable changes include an increase in holdings by E Fund CSI Dividend ETF and a new entry by Fortune CSI Dividend Index Enhanced A/B [3].

Core Viewpoint - Yuhua Tian (300815) has established a dual-driven development model of "urban services + professional property management," with a business network covering over 80 key cities nationwide [1] Group 1 - The company has a solid business foundation in the Guangdong-Hong Kong-Macao Greater Bay Area and is continuously expanding its market [1] - Key service projects include Guangzhou Baiyun Airport (600004), the Guangzhou-Shenzhen Metro system, and the integrated sanitation project in Xixiang Street, Bao'an District, Shenzhen [1]

Core Viewpoint - Yuhua Tian has established a dual-driven development model of "urban services + professional property management," with a business network covering over 80 key cities nationwide [1] Group 1: Business Development - The company has built a solid business foundation in the Guangdong-Hong Kong-Macao Greater Bay Area and is continuously expanding its market [1] - Key service projects include Guangzhou Baiyun Airport, the Guangzhou-Shenzhen Metro system, and the integrated sanitation project in Xixiang Street, Bao'an District, Shenzhen [1]

Core Viewpoint - Tianjian Group's stock price has shown significant growth recently, with a notable increase of 8.25% on November 12, reaching 4.20 CNY per share, and a total market capitalization of 7.848 billion CNY [1] Financial Performance - For the period from January to September 2025, Tianjian Group reported a revenue of 9.959 billion CNY, reflecting a year-on-year growth of 7.79%. However, the net profit attributable to shareholders decreased by 93.87% to 20.129 million CNY [2] - Cumulative cash dividends paid by Tianjian Group since its A-share listing amount to 4.909 billion CNY, with 1.252 billion CNY distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders for Tianjian Group was 41,400, a decrease of 0.98% from the previous period. The average number of circulating shares per person increased by 0.99% to 45,081 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 15.4975 million shares (a decrease of 5.9438 million shares), and several ETFs with varying changes in holdings [3] Stock Performance - Tianjian Group's stock has increased by 4.74% year-to-date, with a 9.38% rise over the last five trading days, 12.60% over the last twenty days, and 14.44% over the last sixty days [1] Business Overview - Tianjian Group, established on December 6, 1993, and listed on July 21, 1999, operates primarily in real estate development and management, construction, and urban services. The revenue composition includes 60.73% from construction, 37.52% from real estate sales, and smaller contributions from other services [1] - The company is categorized under the real estate sector, specifically in residential development, and is associated with concepts such as Shenzhen state-owned assets and low-priced stocks [1]

Core Viewpoint - Tianjian Group, established in 1993 and listed in 1999, operates in real estate development, construction, and urban services, holding a significant position in the Shenzhen market [1] Group 1: Business Performance - In Q3 2025, Tianjian Group reported revenue of 9.959 billion yuan, ranking 12th in the industry, below the top competitors Poly Developments (173.722 billion yuan) and Vanke A (161.388 billion yuan) [2] - The net profit for the same period was -18.725 million yuan, ranking 37th in the industry, significantly lower than the leaders but better than the industry average of -707 million yuan [2] - Revenue for the first three quarters of 2025 grew by 7.8% year-on-year, while net profit dropped by 93.9% due to declining gross margins [6] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio was 76.50%, down from 78.35% year-on-year but still above the industry average of 60.51% [3] - The gross margin for Q3 2025 was 10.68%, a significant decrease from 16.23% in the previous year and below the industry average of 19.19% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 0.98% to 41,400, while the average number of shares held per shareholder increased by 0.99% to 45,100 [5] - Major shareholders include Hong Kong Central Clearing Limited and various ETFs, with some holdings decreasing while others increased [5] Group 4: Leadership - The chairman, Zheng Xiaosheng, born in April 1975, has been in office since December 2022, overseeing the company's strategic direction [4]

Group 1 - The total external guarantees provided by the company and its subsidiaries amount to 36.356 billion yuan, which represents 32.75% of the latest audited net assets attributable to the parent company's shareholders [1] - The balance of guarantees provided to entities outside the consolidated financial statements is 4.969 billion yuan, accounting for 4.48% of the latest audited net assets attributable to the parent company's shareholders [1] - There have been no overdue guarantees, litigation-related guarantees, or losses incurred due to guarantees resulting in adverse judgments [1] Group 2 - For the first half of 2025, the company's revenue composition is as follows: development business accounts for 77.54%, urban services for 15.75%, and asset operations for 6.71% [1] - The current market capitalization of the company is 92.2 billion yuan [1]