K u n w u J i u d i n g I n v e s t m e n t H o l d i n g s C O . , L t d 2025 年 第 四 季 度 房 地 产 业 务 经 营 情 况 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。 证券代码：600053 证券简称：九鼎投资 编号：临 2026-003 昆 吾 九 鼎 投 资 控 股 股 份 有 限 公 司 现将昆吾九鼎投资控股股份有限公司 2025 年第四季度房地产业务主要经营数据 公告如下，供投资者参阅。 特此公告。 昆吾九鼎投资控股股份有限公司 董 事 会 2026 年 1 月 31 日 二、2025 年第四季度房屋出租情况 | 类型 | 出租面积（m2） | 出租率（%） | 租金收入（万元） | | | --- | --- | --- | --- | --- | | 写字楼 | 7,712.14 | 40.04 | | 129.66 | | 其它 | | | | | 注：由于存在各种不确定性，上述经营指标和数据与定期报告披露的数据 ...

Group 1 - The core point of the article is that XuanYa International (300612) has announced plans to purchase real estate for its marketing technology project, with a total transaction amount of 59.5 million yuan [1] - As of January 26, 2026, XuanYa International's stock closed at 19.04 yuan, down 2.51% from the previous trading day, with a total market capitalization of 3.436 billion yuan [1] - The company plans to use 57.5 million yuan of raised funds to purchase office space in Beijing, along with an additional 2 million yuan from its own funds for parking spaces at the same location [1] Group 2 - The office space being purchased has a total area of 1,379.6 square meters and is located in Chaoyang District, Beijing [1] - The transaction has been approved by the board of directors and does not constitute a related party transaction or a major asset restructuring [1]

Core Insights - The article highlights the resilience and growth of small and medium-sized real estate companies in lower-tier cities, despite the general industry trend of larger firms focusing on high-tier cities [1][2] Group 1: Opportunities in Lower-Tier Cities - There are still opportunities in the improvement market of lower-tier cities, as some local small and medium-sized real estate companies are quietly growing while larger firms have lost interest [2][7] - Land acquisition conditions have become more favorable, with local governments showing a friendlier attitude towards real estate companies, allowing for pre-negotiation of conditions before land acquisition [3] - The supply chain has become more accessible, as the withdrawal of larger firms has led to a reduction in new real estate projects, allowing smaller firms to collaborate with previously unattainable top design institutes [5] Group 2: Product Differentiation Strategies - Real estate companies need to either create unique products or become market leaders to escape the saturated competition in lower-tier cities, where there is a structural imbalance in supply and demand [8][10] - By innovating products and addressing common pain points, such as parking space issues, companies can create unique offerings that meet customer needs, as demonstrated by a firm that enhanced parking space dimensions to improve usability [11][12] Group 3: Building Core Competitiveness - Leadership involvement in product development is crucial, with company heads taking direct responsibility for product quality to ensure alignment between design and market needs [14][15] - Establishing a strong supply chain is essential for operational success, with companies encouraged to internalize external capabilities by forming long-term partnerships with top suppliers [16][18] - Long-term commitment to local markets and building a strong reputation can serve as a competitive advantage, as evidenced by firms that have maintained high market shares through consistent performance and customer loyalty [19][20]

Summary of Key Points Core Viewpoint - The document outlines the loss of 26 receipts issued by Shandong Jinqing Senna Villa Real Estate Co., Ltd. by Shandong Kehui Construction Engineering Co., Ltd., declaring them void [2]. Group 1: Receipt Details - A total of 26 receipts were lost, with specific details including receipt numbers, amounts, and issuance dates provided [1]. - The total amount of the receipts is 14,002,058.00 [1]. - The receipts include various property prices and parking space fees, with individual amounts ranging from 75,000.00 to 2,928,189.00 [1]. Group 2: Company Declaration - Shandong Kehui Construction Engineering Co., Ltd. officially declares the lost receipts as void as of January 10, 2026 [2]. - The declaration serves as a formal notice to prevent any misuse of the lost receipts [2].

Group 1 - The company Yuyin Co., Ltd. announced the sale of assets by its wholly-owned subsidiary Beijing Yuxin Zhihuo Technology Co., Ltd. for a total price of 28.23 million RMB [1] - The assets being sold include specific properties located in Chaoyang District, Beijing, which consist of office space and parking spaces [1] - The decision was made during the 11th meeting of the 8th Board of Directors held on January 9, 2026 [1]

Core Viewpoint - Ruian Real Estate (00272) reported a total contract property sales of RMB 7.916 billion for the fiscal year 2025, indicating a strong performance in both residential and commercial property sectors [1] Group 1: Total Sales Performance - The cumulative contract property sales for 2025 reached RMB 7.916 billion, comprising RMB 7.246 billion from residential properties and RMB 670 million from commercial properties [1] - The total sold building area amounted to 130,466 square meters, with an average selling price of RMB 60,700 per square meter [1] - A total of 4,003 parking spaces were sold during the fiscal year 2025 [1] Group 2: Second Half Performance - In the second half of 2025, the contract property sales totaled RMB 4.443 billion, including RMB 3.956 billion from residential properties and RMB 487 million from commercial properties [1] - The sold building area in the second half was 67,932 square meters, with an average selling price of RMB 65,400 per square meter [1] - Additionally, 2,929 parking spaces were sold in the second half of 2025 [1] Group 3: Future Sales Expectations - As of December 31, 2025, the group has secured a total subscription sales amount of RMB 639 million, which is expected to be converted into formal contract property sales in the upcoming months [1]

Core Viewpoint - Ruian Real Estate (00272.HK) reported a total contract property sales of RMB 7.916 billion for the fiscal year 2025, indicating a strong performance in both residential and commercial property sectors [1] Group 1: Sales Performance - The cumulative contract property sales included RMB 7.246 billion from residential properties and RMB 0.670 billion from commercial properties [1] - The total sold building area reached 130,500 square meters, with an average selling price of RMB 60,700 per square meter [1] - In the second half of 2025, contract property sales amounted to RMB 4.443 billion, comprising RMB 3.956 billion from residential properties and RMB 0.487 billion from commercial properties [1] Group 2: Additional Sales Metrics - The sold building area in the second half of 2025 was 67,900 square meters, with an average selling price of RMB 65,400 per square meter [1] - A total of 4,003 parking spaces were sold during the fiscal year 2025 [1] - As of December 31, 2025, the group recorded a subscription sales total of RMB 639 million, which is expected to convert into formal contract property sales in the coming months [1]

Core Viewpoint - Ruian Real Estate (00272) reported a total contract property sales of RMB 7.916 billion for the fiscal year 2025, indicating a strong performance in both residential and commercial property sectors [1] Group 1: Total Sales Performance - The cumulative contract property sales for 2025 reached RMB 7.916 billion, comprising RMB 7.246 billion from residential properties and RMB 670 million from commercial properties [1] - The total sold gross floor area amounted to 130,466 square meters, with an average selling price of RMB 60,700 per square meter [1] - Additionally, 4,003 parking spaces were sold during the fiscal year 2025 [1] Group 2: Sales in the Second Half of 2025 - In the second half of 2025, the contract property sales totaled RMB 4.443 billion, including RMB 3.956 billion from residential properties and RMB 487 million from commercial properties [1] - The sold gross floor area in this period was 67,932 square meters, with an average selling price of RMB 65,400 per square meter [1] - A total of 2,929 parking spaces were sold in the second half of 2025 [1] Group 3: Future Sales Expectations - As of December 31, 2025, the group has secured a total subscription sales amount of RMB 639 million, which is expected to be converted into formal contract property sales in the upcoming months [1]

Group 1 - On January 6, 2026, Beijing recorded 141 new home registrations with a total area of 11,623.27 square meters, including 66 residential units covering 8,317.05 square meters [1] - The second-hand housing market saw 575 registrations, with 478 being residential units, totaling 43,132.82 square meters [1] - As of January 6, 2026, there are 92,920 available pre-sale units in Beijing, with a total area of approximately 7,507,263.69 square meters [2] Group 2 - The pre-sale permits approved in December 2025 amounted to 20, covering an area of 542,294.96 square meters [2] - The total number of unsold units stands at 209,975, with a total area of 11,527,120.74 square meters, including 28,690 residential units [2] - The online signing for existing homes in December 2025 reached 19,132 units, with a total area of 1,659,092.40 square meters, of which 17,200 units were residential [3]

Core Viewpoint - The company, JG Development, has received a debt waiver from its controlling shareholder and related parties amounting to nearly 378 million yuan, aimed at supporting the company's development and alleviating its debt pressure [1][2]. Debt Waiver Details - The debt waiver involves a total of 378 million yuan, with 280 million yuan and 97.47 million yuan waived by the controlling shareholder, Gaoxin Construction, and its related party, Shunzheng Investment, respectively [1]. - The waived loans are due on December 31, 2024, and May 31, 2025, with the principal amount of 263 million yuan having an interest rate of 5.9% per annum and a term of 12 months [1]. Impact on Financials - The debt waiver is expected to increase the company's capital reserve, thereby enhancing the net assets attributable to the shareholders of the listed company [2]. - As of the end of Q3 2025, the company's equity attributable to shareholders was 43.87 million yuan, showing a decline compared to the end of 2024 [2]. Business Overview - JG Development operates in diversified sectors, including in vitro diagnostics, trade, real estate, and property services, with only the Dongying Blue Jiayuan project currently under construction in real estate [2]. - The company acknowledges its weak profitability and low net asset scale, indicating a need to explore new business areas and regions while maintaining existing business operations [2]. Shareholder Support - The company emphasizes the advantages of its controlling shareholder's support as a core competitive strength, with JG Holdings being a state-owned enterprise with a registered capital of 4 billion yuan and high credit ratings [2].