Core Viewpoint - The company reported significant growth in revenue and net profit for the first three quarters of 2025, driven by an increase in the scale of property project completions and deliveries [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 9.515 billion, a year-on-year increase of 938.80% - The net profit attributable to shareholders reached 287 million, a year-on-year increase of 232.59% from a loss of 216 million in the same period last year [1][2]. Project Development - The company accelerated project development cycles, with a total newly completed area of 191,900 square meters, a year-on-year increase of 95.12% - The newly started construction area totaled 139,200 square meters, a year-on-year increase of 34.25% - The gross profit margin for the first three quarters was 17.14%, and the net profit margin was 2.82% [2][3]. Sales and Contract Liabilities - The company recorded a sales area of 36,900 square meters and sales revenue of 4.460 billion, a year-on-year decrease of 54% - In the third quarter, the sales area was 10,100 square meters, a year-on-year increase of 19.55%, with sales revenue of 1.384 billion, a year-on-year increase of 2.90% - As of the end of the third quarter, the company had contract liabilities of 11.026 billion, indicating a rich resource for settlement [3]. Rental Income - The company’s rental projects include the Chengtou Kuan Ting leasing community and Chengtou Holdings Building, with a total leased area of approximately 579,800 square meters and an operating area of about 385,800 square meters - Rental cash inflow totaled 279 million, a year-on-year increase of 33.94% [3]. Investment Outlook - As a local state-owned enterprise in Shanghai, the company possesses unique resource advantages and a diverse product line in its operational sector - Projected net profits attributable to shareholders for 2025, 2026, and 2027 are estimated at 543 million, 865 million, and 1.057 billion respectively, with corresponding PE ratios of 22.05X, 13.84X, and 11.32X, leading to a "buy" rating [4].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has turned a profit in the first three quarters of 2025, primarily due to a significant increase in project transfers, with a projected net profit of 613 million yuan in 2025 [5][6] - The company has a strong land reserve and a clear investment and financing path, which is expected to continuously enhance profitability [5] - The company has implemented its first share buyback, which is expected to boost market confidence [8] Financial Performance - In the first three quarters of 2025, the company achieved revenue of 9.515 billion yuan, a year-on-year increase of 939%, and a net profit attributable to shareholders of 287 million yuan, compared to a loss of 216 million yuan in the same period of 2024 [6] - The gross margin for the company was 17.14%, and the net margin was 2.82% [6] - The company’s operating cash flow was 1.306 billion yuan, a decrease of 77.4% year-on-year [6] Sales and Land Reserves - The company reported a sales area of 37,000 square meters in the first three quarters of 2025, a decrease of 37% year-on-year, with sales revenue of 4.46 billion yuan, down 53% year-on-year [7] - As of mid-2025, the company had approximately 735,000 square meters of land available for development, with 88% located in Shanghai [7] Rental Income and Share Buyback - The company’s rental income reached 280 million yuan in the first three quarters of 2025, representing a year-on-year growth of 28% [8] - The company has initiated a share buyback plan of 50 to 100 million yuan, with a maximum repurchase price of 6.87 yuan per share, accounting for 0.29% to 0.58% of the total share capital [8] Financial Projections - The projected net profits for 2025, 2026, and 2027 are 613 million yuan, 836 million yuan, and 991 million yuan, respectively, with corresponding EPS of 0.24 yuan, 0.33 yuan, and 0.40 yuan [5][9] - The company’s P/E ratios for 2025, 2026, and 2027 are projected to be 19.1, 14.0, and 11.8, respectively [9]

Core Insights - The company reported an increase in signed sales area and sales amount for Q3 2025, indicating a positive trend in its real estate operations [2] Group 1: Construction and Sales Performance - In Q3 2025, the company completed an additional construction area of 81,099 square meters, with no new construction starts [2] - The total signed sales area for major projects reached 10,061 square meters, representing a year-on-year increase of 19.55% [2] - The signed sales amount was approximately 138,421 million yuan, reflecting a year-on-year increase of 2.90% [2] Group 2: Rental Operations - The company has major rental projects including the Chengtou Kuan Ting leasing community and Chengtou Holdings Building, with a total rental property area of about 579,800 square meters [2] - The area under operation that has been rented out is approximately 385,800 square meters [2] - The rental cash inflow for the quarter was around 10,684 million yuan [2]

Core Viewpoint - The company reported an increase in both signed sales area and sales amount for its main projects in Q3 2025, indicating positive growth in its real estate business [1] Sales Performance - The total signed sales area reached 10,061 square meters, representing a year-on-year increase of 19.55% [1] - The total signed sales amount was 1.384 billion yuan, reflecting a year-on-year increase of 2.90% [1] - The sales area does not include parking spaces, while the sales amount includes parking spaces [1]

证券代码：600649 证券简称：城投控股 公告编号：2025-042 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担法律责任。 根据《上海证券交易所上市公司自律监管指引第 3 号— —行业信息披露》的相关要求，现将公司 2025 年第三季度 主要房产项目经营情况进行公告，具体如下： 1.公司主要项目建设情况： 2025 年第三季度，公司主要在租项目包含城投宽庭租赁 社区、城投控股大厦等项目，出租房地产的建筑面积约 57.98 万平方米，已出租经营面积约 38.58 万平方米，实现租赁现 金流入约 10,684 万元。 上海城投控股股份有限公司 2025 年 第三季度主要房产项目经营数据简报 2025 年第三季度，公司新增竣工面积 81,099 平方米， 无新增开工面积。 2.公司主要项目销售情况 2025 年第三季度，公司主要在售项目包括露香园二期、 璟雲里二期、馥公馆、虹盛里等，实现签约销售面积 10,061 平方米，同比增加 19.55%；实现签约销售金额 138,421 万元， 同比增加 2.90%。其中，销售面积不包含车位，销 ...

Core Viewpoint - The company reported an increase in both signed sales area and sales amount for the third quarter of 2025, indicating positive performance in its ongoing projects [1] Sales Performance - The total signed sales area reached 10,061 square meters, representing a year-on-year increase of 19.55% [1] - The total signed sales amount was 1.384 billion yuan, reflecting a year-on-year increase of 2.90% [1] - The sales area does not include parking spaces, while the sales amount includes parking spaces [1]

Core Viewpoint - The company reported an increase in both sales area and sales amount for the third quarter of 2025, indicating positive growth in its real estate projects [1] Sales Performance - The company achieved a signed sales area of 10,061 square meters in Q3 2025, representing a year-on-year increase of 19.55% [1] - The signed sales amount reached 138,421 thousand yuan in Q3 2025, reflecting a year-on-year increase of 2.90% [1] - It is noted that the sales area does not include parking spaces, while the sales amount does include parking spaces [1] Rental Performance - The company’s main rental projects include the Chengtou Kuan Ting leasing community and Chengtou Holdings Building [1] - The total building area of the rented properties is approximately 579,800 square meters, with an operational area of about 385,800 square meters [1] - The rental cash inflow for the company amounted to approximately 10,684 thousand yuan [1]

证券代码：600649 证券简称：城投控股 公告编号：2025-028 上海城投控股股份有限公司 2025 年 第二季度主要房产项目经营数据简报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担法律责任。 1.公司主要项目建设情况： 2025 年第二季度，公司新增开工面积 139,226 平方米， 新增竣工面积 60,345 平方米。 2.公司主要项目销售情况 2025 年第二季度，公司主要在售项目包括露香园二期、 璟雲里二期、馥公馆、虹盛里等，实现签约销售面积 11,836 平方米，同比减少 45.47%；实现签约销售金额 118,820 万元， 同比减少 63.87%。其中，销售面积不包含车位，销售金额包 含车位。 3.公司主要项目出租情况 2025 年第二季度，公司主要在租项目包含城投宽庭租赁 社区、城投控股大厦等项目，出租房地产的建筑面积约 57.98 万平方米，已出租经营面积约 35.98 万平方米，实现租赁现 金流入约 9712.85 万元。 1 "城投宽庭"社区租金收入本季度新增统计"徐汇社区"。 徐汇社区共有 1283 套 ...

Group 1 - The company reported a new completion area of 60,345 square meters for the second quarter of 2025 [1] - The signed sales area for projects such as Jingyunli Phase II, Fugongguan, and Hongshengli was 11,836 square meters, representing a year-on-year decrease of 45.47% [1] - The signed sales amount was 118,820 million yuan, showing a year-on-year decrease of 63.87%, with the sales area excluding parking spaces and the sales amount including parking spaces [1] Group 2 - The company has approximately 579,800 square meters of rental real estate, with about 359,800 square meters already leased, generating rental cash inflow of approximately 97.13 million yuan [1] - The "Chengtou Kuan Ting" community reported new rental income statistics for the "Xuhui Community," which has 1,283 housing units and opened in May 2025 [2] - Currently, "Chengtou Kuan Ting" operates 10 communities, managing over 14,000 housing units [2]

上海城投控股股份有限公司 2025 年 第一季度主要房产项目经营数据简报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担法律责任。 根据《上海证券交易所上市公司自律监管指引第 3 号— —行业信息披露》的相关要求，现将公司 2025 年第一季度 主要房产项目经营情况进行公告，具体如下： 证券代码：600649 证券简称：城投控股 公告编号：2025-018 3.公司主要项目出租情况 2025 年第一季度，公司主要在租项目包含城投宽庭租赁 社区、城投控股大厦等项目，出租房地产的建筑面积约 50.93 万平方米，已出租经营面积约 32.89 万平方米，实现租赁现 金流入约 7,494.37 万元。 1 "城投宽庭"社区租金收入本季度新增统计"尚云里公 寓"。"尚云里公寓"为公司开发的洞泾尚云里商品房配套 租赁房项目，共 285 套，已于 2024 年 10 月开业。截至目前， "城投宽庭"在营社区 9 个，现有管理规模超 13,000 套。 以上数据为阶段统计数据，相关项目经营数据请以公司 定期报告为准。 特此公告。 1.公司主要项目建设情 ...