证券日报网讯2月24日，保利发展（600048）在互动平台回答投资者提问时表示，目前，公司的发展战 略仍聚焦于不动产投资开发、运营与服务，努力在行业调整期进一步夯实核心能力、保障经营安全。对 于主业之外的战略性投资，公司持审慎研究的态度，如有相关进展将按规定披露。 ...

证券日报网讯 2月24日，保利发展在互动平台回答投资者提问时表示，2025年公司业绩快报披露实现盈 利，但每股净资产有所下降，主要原因是公司于2025年主动偿还了公司永续债。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯 2月24日，保利发展在互动平台回答投资者提问时表示，当前行业仍处于波动调整期，公 司利润表现受到阶段性影响。为此，公司正全力推进销售去化与资产结构优化，并严格把控新增投资质 量，以期未来结转业绩得到改善。关于高管薪酬，公司实行严格的绩效评价体系，薪酬详细情况请参阅 公司年度报告。 ...

2026年的兰州新房市场，将会卷到天际。 这绝不是危言耸听，而是实话实说，因为兰州已经进入了四代宅的全面爆发期。 据不完全统计，目前兰州在售、在建、待建的四代宅项目，加上储备用地，已经逼近30个。 这也就意味着，2026年四代宅将彻底统治兰州新房市场，成为兰州楼市的绝对主角。 而兰州四代宅，也将会从最初的代际战，到产品力、场景力、服务力等全维度的竞争。 关于四代宅，大家的态度始终褒贬不一、莫衷一是。 但不可否认的是，2025年的四代宅是兰州新房市场上，最具吸引力、最能拉动销量的产品之一。 政策的东风下，市场反馈比较友善，四代宅的产品力也让市场的改善需求得以释放。 再加上兰州的土地供应已向主城核心区域聚焦，小体量地块已成为土拍市场的主流。 盈利效应的驱动，以及兰州土拍市场的结构性变化，让更多房企扎堆涌入四代宅赛道，只为抢占这波人居升级的风口红利。 但热潮之下，是难以规避的残酷内卷。 现在的兰州楼市属于是僧多粥少，大批的项目涌入市场，必然会加剧竞争。 目前，兰州主城四区的四代宅项目也已不在少数，大多区域都已被四代宅开发潮席卷。 其中，最具有代表性的就是城关区。 雁滩、东岗、黄河北三大区域，直接成为了城关四代宅的集 ...

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors [3][4][60] Core Insights - The report indicates that new home sales during the Spring Festival period saw a year-on-year increase of 5.4%, with a total of 9.3 million square meters sold across 16 major cities [3][14] - The report highlights a significant recovery in the real estate market, with February sales in 34 cities showing an 88.5% year-on-year increase compared to January [9][10] - The report emphasizes the importance of government policies aimed at stabilizing the real estate market, including measures to address local government debt risks and promote housing supply [3][4] Summary by Sections Industry Data - New home sales in 34 key cities decreased by 1.1% week-on-week before the Spring Festival, with a total of 192.3 million square meters sold [4][5] - In February, new home sales in 34 cities increased by 88.5% year-on-year, with first and second-tier cities showing a 96.8% increase [9][10] - The report notes that the inventory of unsold residential properties in 15 cities was 88.7 million square meters, with a slight decrease of 0.1% week-on-week [60] Policy News - The report mentions that the publication "Qiushi" reiterated the need to stabilize the real estate market, with 12 commercial real estate REITs submitted for approval [3][4] - Various local governments have introduced new policies to stabilize the real estate market, including measures to optimize housing supply and activate existing stock [3][4] Company Dynamics - The report tracks sales data from major real estate companies, noting that China Jinmao and China Resources Land reported strong sales figures in January [3][4] - The report highlights the performance of the real estate sector, with the SW Real Estate Index declining by 0.69% compared to a 0.36% increase in the CSI 300 Index [3][4] Investment Analysis - The report recommends investing in high-quality real estate companies and commercial properties, citing an expected recovery in profitability for quality firms as the market stabilizes [3][4] - Specific recommendations include companies such as Jianfa International, Binhai Group, and China Jinmao for quality real estate, and New City Holdings and China Resources Land for commercial real estate [3][4]

Investment Rating - The report maintains a "Positive" rating for the real estate and property management sectors, highlighting the potential for recovery in quality real estate companies and commercial properties [3]. Core Insights - The report indicates that new home sales during the Spring Festival period saw a year-on-year increase of 5.4%, with a total of 9.3 million square meters sold across 16 major cities [3][13]. - The overall sentiment in the real estate market is improving, driven by recent government policies aimed at stabilizing the market and addressing local government debt risks [3]. - The report emphasizes that the fundamental bottom of the real estate sector is approaching, with expectations for quality companies to recover profits more quickly and flexibly [3]. Summary by Sections 1. Industry Data - New home sales in 34 key cities during the week before the Spring Festival totaled 192.3 million square meters, a decrease of 1.1% week-on-week, but an increase of 56.6% compared to the average weekly sales this year [4]. - In February, new home sales in 34 cities increased by 88.5% year-on-year, with first and second-tier cities showing a 96.8% increase [9]. - The inventory of new homes in 15 cities was reported at 8,870.4 million square meters, with a slight decrease of 0.1% week-on-week [54]. 2. Policy News - The report notes that the government has reiterated its commitment to stabilizing the real estate market, with various local policies being introduced to optimize housing supply and manage existing stock [3]. - Specific measures include the promotion of REITs in commercial real estate, with 12 applications submitted recently [3]. 3. Company Dynamics - Sales data for major real estate companies in January showed mixed results, with China Jinmao reporting a 13.6% increase in sales, while other companies like Poly Developments saw a 13.3% decrease [3]. - The report highlights the performance of the property management sector, which has shown resilience compared to the broader market [3]. 4. Market Performance - The SW Real Estate Index fell by 0.69%, underperforming the Shanghai and Shenzhen 300 Index, which rose by 0.36% [3]. - The report suggests that the current valuation levels for quality real estate companies are at historical lows, making them attractive for investment [3].

Core Viewpoint - China Poly Group Corporation has issued a statement warning the public about fraudulent activities conducted under its name, urging caution in investment collaborations and reporting any illegal actions to the police [1][5][6]. Group 1 - China Poly Group emphasizes that Poly Yong'an Museum Co., Ltd. (registered in Macau), China Food Fermentation Industry Research Institute (registered in Hong Kong), and Hubei Zhongqing Wushe Environmental Engineering Co., Ltd. have no affiliation or equity relationship with the group [4][7]. - The company clarifies that its previously invested entity, Zhongshi Kecai (Beijing) Enterprise Management Development Co., Ltd., has completed its exit from the shareholding, and its actions are not authorized by Poly Group [4][7].

14日，中国保利集团有限公司在其官方公众号发布严正声明： 近日，中国保利集团有限公司（以下简称"保利集团"）关注到，部分市场主体以保利集团及下属企业名义开展经营、宣传活动，涉及假冒注 册及市场混淆行为，为保障社会公众合法权益，保利集团现声明如下： 保利集团提醒社会各界提高警惕，注意甄别，谨慎开展投资合作，如发现违法犯罪行为，请尽快到公安机关报案。 1. 保利永安博物館有限公司 （注册地澳门）、 中國食品發酵工業研究院(香港)有限公司 （注册地香港，商业登记号码73217163）、 湖北 中轻武设环境工程有限公司 （统一社会信用代码为91420106594530366L）与保利集团及所属公司无任何隶属与股权关系，也不存在任 何投资、合作、业务等关系，其一切行为均与保利集团无关。 2. 我司下属公司曾参股的 中食科创（北京）企业管理发展有限公司 （统一社会信用代码91110302686902884C）股权已经上海联合产权交 易所公开挂牌转让完成退出，该公司及其下属 华祯控股集团有限公司 （统一社会信用代码91110109MACGDWDJXH）等未获得保利集 团及下属公司任何有关业务、投资、合作等授权、授意，其一切 ...

Core Viewpoint - Poly Developments plans to issue 5 billion yuan in convertible bonds to fund nine ongoing real estate projects, aligning with the "guarantee housing delivery, ensure people's livelihood" policy [1][3]. Group 1: Company Performance - As of February 13, 2026, Poly Developments' stock closed at 6.74 yuan, down 3.44% from the previous week's 6.98 yuan [1]. - The company's total market capitalization is 80.681 billion yuan, ranking 2nd out of 89 in the real estate development sector and 235th out of 5,189 in the A-share market [1]. Group 2: Bond Issuance Details - The company received an inquiry letter from the Shanghai Stock Exchange regarding its application for issuing convertible bonds on January 19, 2026, and has completed the necessary responses and document revisions [1][2]. - The bond issuance aims to raise a total of no more than 500 million yuan, with a term of six years and no collateral provided [1][2]. - The funds will be allocated to projects in Shanghai, Hangzhou, Guangzhou, Foshan, and Shijiazhuang, all of which have obtained necessary approvals and pre-sale licenses [1][3]. Group 3: Legal and Financial Assurance - Beijing Deheng Law Firm confirmed that the project implementation entities possess the necessary qualifications and that there are no significant delivery risks [2]. - China International Capital Corporation, as the sponsor, issued a sponsorship letter affirming that the bond issuance complies with legal requirements and is eligible for listing on the Shanghai Stock Exchange [2]. - Lixin Accounting Firm verified the accuracy of financial disclosures and confirmed that the use of raised funds complies with regulations, ensuring dedicated management of the funds [2].

Group 1 - Pei Mingshan appointed as Deputy Secretary and Director of China Railway Construction Group Co., Ltd., nominated as General Manager candidate, relieved of his position as Standing Committee member of China Communications Construction Group Co., Ltd., and no longer serves as Deputy General Manager of China Communications Construction Group Co., Ltd. [1] - Hou Xiao appointed as Deputy Secretary and Director of China Guoxin Holdings Co., Ltd., nominated as General Manager candidate. [2] - Dong Baoliang appointed as Deputy Secretary and Director of China Railway Communication Signal Group Co., Ltd., nominated as General Manager candidate, and no longer serves as External Director of China Automotive Technology Research Center Co., Ltd. [3] Group 2 - Zheng Weili appointed as Standing Committee member of China Coal Technology and Engineering Group Co., Ltd., nominated as Chief Accountant candidate. [4] - Zhang Deyong appointed as Standing Committee member of China Electrical Equipment Group Co., Ltd., nominated as Chief Accountant candidate. [5] - Qu Xiaoli appointed as Standing Committee member of China CNR Corporation Limited, relieved of his position as Standing Committee member of China National Building Material Group Corporation, and no longer serves as Deputy General Manager of China National Building Material Group Corporation. [6] Group 3 - Hu Naimin relieved of his position as Standing Committee member of China Energy Conservation and Environmental Protection Group Co., Ltd., no longer serves as Deputy General Manager, and is retiring. [7] - Ma Shizhi relieved of his position as Standing Committee member of China Coal Energy Group Co., Ltd., no longer serves as Deputy General Manager, and is retiring. [8] - Wu Xiangong relieved of his position as Standing Committee member of China Chemical Engineering Group Co., Ltd. and is retiring. [9] - Wang Shiqi relieved of his positions as Deputy Secretary and Standing Committee member of China Railway Engineering Group Co., Ltd. and is retiring. [10] - Sun Lixia relieved of her positions as Standing Committee member and Discipline Inspection Secretary of China Poly Group Co., Ltd. and is retiring. [11]