2026年第一次临时股东会决议公告 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。 重要内容提示： 证券代码：600325 证券简称：华发股份 公告编号：2026-017 珠海华发实业股份有限公司 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东会召开的时间：2026年2月26日 (二)股东会召开的地点：广东省珠海市昌盛路155号公司9楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ 注：截至本次股东会股权登记日2026年2月12日，公司总股本为2,752,152,116股,由于公司存在股份回购 计划，公司回购专用证券账户股份不享有本次会议表决权的情况，无表决权股份总数为58,741,300股， 有表决权股份总数为2,693,410,816股。 (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次会议的召集人为公司董事会，董事长郭凌勇先生因工作原因不能主持本次股东会。根据《公司章 程》的相关规定，经董事长提议并经董事会半数以上董事同意，推举董事向宇先生主持 ...

[Table_Page] 投资策略月报|房地产 证券研究报告 [Table_Title] 房地产行业 26 年 1 月市场总结 市场信心逐步回升，主流标的表现优异 [Table_Summary] 核心观点： [Table_Grade] 行业评级 买入 前次评级 买入 报告日期 2026-02-26 [相对市场表现 Table_PicQuote] [分析师： Table_Author]郭镇 SAC 执证号：S0260514080003 SFC CE No. BNN906 021-38003639 guoz@gf.com.cn 分析师： 邢莘 SAC 执证号：S0260520070009 021-38003638 xingshen@gf.com.cn 分析师： 谢淼 SAC 执证号：S0260522070007 SFC CE No. BVB342 021-38003637 xiemiao@gf.com.cn 分析师： 李怡慧 SAC 执证号：S0260524040001 SFC CE No. BVI219 021-38003636 liyihui@gf.com.cn 分析师： 辛恬 SAC 执证号：S026052 ...

证券代码：600325 证券简称：华发股份 公告编号：2026-017 珠海华发实业股份有限公司 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 539 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,095,942,587 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 40.69 | | 份总数的比例（%） | | 注：截至本次股东会股权登记日 2026 年 2 月 12 日，公司总股本为 2,752,152,116 股,由 于公司存在股份回购计划，公司回购专用证券账户股份不享有本次会议表决权的情况，无表 决权股份总数为 58,741,300 股，有表决权股份总数为 2,693,410,816 股。 2026年第一次临时股东会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2026 年 2 月 26 ...

北京德恒(珠海)律师事务所 关于珠海华发实业股份有限公司 2026年第一次临时股东会的 法律意见书 北京德恒(珠海)律师事务所 广东省珠海市香洲区凤凰北路2099号安广世纪大厦19楼 电话: 0756-3263939 传真: 0756-3293638 邮编: 519000 致:珠海华发实业股份有限公司 北京德恒(珠海)律师事务所(以下简称"本所")受珠海华发实业股份 有限公司(以下简称"华发股份"或"公司")委托,指派本所余家燕律师和 刘海伟律师出席华发股份2026年第一次临时股东会(以下简称"本次股东会"), 对本次股东会的合法性进行见证,并出具本法律意见。 本法律意见根据《中华人民共和国公司法》(以下简称"《公司法》")《中 华人民共和国证券法》（以下简称"《证券法》"）《珠海华发实业股份有限公司 章程》（以下简称"《公司章程》"）《珠海华发实业股份有限公司股东会议事 规则》(以下简称"《股东会议事规则》")等有关法律、法规和规范性文件 而出具。 为出具本法律意见,本所律师审查了华发股份本次股东会的有关文件和材 料。本所律师得到华发股份如下保证,即其已提供了本所律师认为作为出具本 法律意见所必需的材料,所 ...

Group 1 - The core point of the news is that Huafa Co., Ltd. experienced a stock price increase of 5.03%, reaching 4.59 CNY per share, with a trading volume of 136 million CNY and a turnover rate of 1.10%, resulting in a total market capitalization of 12.632 billion CNY [1] - Huafa Co., Ltd. is primarily engaged in real estate development and operation, with its revenue composition being 90.32% from real estate development, 7.23% from other sources, and 2.45% from property services [1] Group 2 - Among the top ten circulating shareholders of Huafa Co., Ltd., a fund under Southern Fund holds a significant position. The Southern CSI 500 ETF (510500) reduced its holdings by 748,700 shares in the third quarter, now holding 32.0745 million shares, which accounts for 1.17% of the circulating shares [2] - The Southern CSI 500 ETF (510500) has a current scale of 144.69 billion CNY and has achieved a year-to-date return of 12.45%, ranking 631 out of 5570 in its category, with a one-year return of 41.27%, ranking 1108 out of 4305 [2] - The fund manager of Southern CSI 500 ETF (510500) is Luo Wenjie, who has a cumulative tenure of 12 years and 313 days, with the fund's total asset scale at 171.358 billion CNY and a best return of 185.44% during his tenure [2]

Core Insights - The article highlights the growing popularity of skiing as a leisure activity in Guangdong during the Spring Festival, with indoor ski resorts attracting significant visitor numbers and transforming the ice and snow experience into a broader consumption scenario [1][3][4] Group 1: Visitor Trends and Statistics - Shenzhen Huafa Qianhai Ice and Snow World recorded an average of 6,000 visitors per day during the Spring Festival, indicating a strong interest in skiing among tourists from nearby cities [1][3] - The ice and snow industry in China is projected to grow from 3,647 billion yuan in 2016 to 9,800 billion yuan by 2024, with an annual growth rate of 21.09% [3] - The 2024-2025 ice and snow season is expected to see consumer participation and related spending exceed 1,875 billion yuan, representing a growth of over 25% compared to the previous season [3] Group 2: Economic Impact and Development - Guangdong has established over 30 ice and snow venues, positioning itself as a leader in the national ice and snow tourism market [4] - The "one-hour ice and snow economic circle" in the Guangdong-Hong Kong-Macao Greater Bay Area is emerging, linking local and international tourism resources [5][6] - The integration of ice and snow venues with surrounding tourism resources is enhancing regional economic development and attracting international brands and events [6] Group 3: Innovations and Consumer Experience - The ice and snow venues are exploring diverse business models, including high-end customized services and "ice and snow+" integrated experiences [7][8] - New consumer trends indicate a demand for social and engaging skiing experiences, leading to the introduction of AI ski helmets for team communication and simplified entry-level skiing experiences [8][9] - Partnerships with local hotels and travel agencies are creating bundled products, such as "snow tickets + accommodation" packages, catering to the growing interest in short-term vacations and family leisure [10][11]

Core Viewpoint - Zhuhai Huafa Group plans to acquire shares in Zhuhai Huafa Industrial Co., Ltd. through a cash subscription for A-shares issued to specific targets, which will increase its stake above 30% and trigger mandatory tender offer obligations unless exemptions are granted [1][3][32]. Group 1: Acquisition Details - The acquisition will be executed via a cash subscription for A-shares, with the total amount not exceeding RMB 3 billion [30]. - The subscription will increase Huafa Group's shareholding from 29.64% to approximately 41.49% post-issuance, with total shares rising from 2,752,152,116 to 3,464,741,189 [14][15]. - Huafa Group has committed to not transferring the newly acquired shares for 18 months if its stake remains below 30%, or for 36 months if it exceeds 30% [3][22]. Group 2: Regulatory Compliance - The acquisition requires approval from Huafa's shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission [2][13]. - Huafa Group has received necessary authorizations and approvals for the acquisition, ensuring compliance with internal rules and regulations [2][4]. Group 3: Financial and Operational Background - Huafa Group is a leading state-owned enterprise in Zhuhai, with a diversified business model encompassing technology, urban operations, real estate development, and financial services [10]. - The group has not faced any significant legal or regulatory penalties in the past five years, indicating a stable operational history [10]. Group 4: Future Plans and Commitments - There are currently no plans to change the main business operations of Huafa or to make significant adjustments to its management structure within the next 12 months [36][38]. - Huafa Group has committed to maintaining the independence of Zhuhai Huafa Industrial Co., Ltd. post-acquisition, ensuring that its operations remain unaffected [43].

股票代码：600325 股票简称：华发股份 公告编号：2026-016 珠海华发实业股份有限公司关于向特定对象发行A股股票事项获得珠海市国资委批复的公告 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。 珠海华发实业股份有限公司（以下简称"华发股份"或"公司"）于2026年2月3日召开第十一届董事会第二 次会议，审议通过了公司向特定对象发行A股股票相关事项。具体内容详见公司于2026年2月4日在上海 证券交易所网站（www.sse.com.cn）及《上海证券报》《中国证券报》《证券时报》《证券日报》披露 的公告（公告编号：2026-006、007、008、009、010）。 2026年2月12日，公司收到控股股东珠海华发集团有限公司（以下简称"华发集团"）转发的珠海市人民 政府国有资产监督管理委员会《关于珠海华发集团有限公司出资不超过30亿元认购珠海华发实业股份有 限公司锁价定增方案的意见》（珠国资〔2026〕28号），主要内容如下： 一、原则同意华发集团在豁免要约收购的前提下，认购华发股份本次向特定对象发行的股份，认购资金 总 ...

Core Viewpoint - The financing activities of listed real estate companies have significantly increased since 2026, indicating a positive shift in the industry financing environment, driven by supportive financial policies aimed at ensuring project delivery and mitigating default risks [1][4]. Group 1: Financing Activities - New City Development completed a placement of 198 million shares at HKD 2.39 per share, raising approximately HKD 469 million for future development, debt repayment, and general operational funds [2]. - China Enterprises announced a bond issuance with a base size of CNY 1 billion and a maximum of CNY 2.2 billion, aimed at repaying maturing debt, with an interest rate range of 2.30% to 3.20% [2]. - Yuexiu Property issued bonds worth CNY 700 million with a coupon rate of 2.18%, achieving a subscription multiple of 1.67 times [2]. Group 2: Characteristics of Financing - Current financing activities are characterized by participation from state-owned enterprises and private firms with stable cash flows, often supported by major shareholders [3]. - The primary purpose of financing is to reinvest in ongoing projects and ensure debt repayment, aligning with the current risk prevention policies [3]. Group 3: Improvement in Financing Environment - The financing environment for real estate companies is gradually improving, with reports indicating that projects on the "white list" can extend loan terms up to five years [4]. - The first equity issuance of the year was announced by Huafa Group, aiming to raise up to CNY 3 billion for various projects, which is expected to enhance the company's financial structure and reduce debt risks [4]. Group 4: Market Data and Trends - In 2025, the total bond financing for real estate companies reached CNY 596.72 billion, a year-on-year increase of 5.6%, with a notable drop in average bond financing costs to 2.69% [5][6]. - In January 2026, domestic debt financing for 50 typical real estate companies was CNY 19.38 billion, a month-on-month increase of 62.4% [6].

珠海华发实业股份有限公司 收购报告书 上市公司名称：珠海华发实业股份有限公司 股票上市地点：上海证券交易所 股票简称：华发股份 股票代码：600325 收购人名称：珠海华发集团有限公司 收购人住所：珠海市拱北联安路 9 号 通讯地址：珠海市拱北联安路 9 号 签署日期：二〇二六年二月 珠海华发实业股份有限公司 收购报告书 收购人声明 本声明所述的词语或简称与收购报告书"释义"部分所定义的词语或简称具 有相同的含义。 一、本报告书系收购人依据《中华人民共和国公司法》《中华人民共和国证 券法》《上市公司收购管理办法》《公开发行证券的公司信息披露内容与格式准 则第 16 号—上市公司收购报告书》及其他相关法律、法规及部门规章的有关规 定编写。 二、依据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行 证券的公司信息披露内容与格式准则第 16 号—上市公司收购报告书》的规定， 本报告书已全面披露了收购人在珠海华发实业股份有限公司拥有权益的股份。 截至本报告书签署之日，除本报告书披露的持股信息外，收购人没有通过任 何其他方式在珠海华发实业股份有限公司拥有权益。 三、收购人签署本报告书已获得必要的授权和批准，其 ...