Group 1 - The core point of the article is that Xinda Real Estate held a temporary board meeting on November 7, 2025, to discuss the revision of the implementation rules for the audit and internal control committee [1] - For the first half of 2025, Xinda Real Estate's revenue composition was as follows: housing sales revenue accounted for 77.87%, other business accounted for 18.41%, and leasing and other activities accounted for 3.72% [1] - As of the time of reporting, Xinda Real Estate had a market capitalization of 10.7 billion yuan [1] Group 2 - The article also highlights the challenges in the domestic art insurance market, noting that the market for art insurance is valued at 4.8 billion yuan, with insurers finding pricing difficult [1]

Core Viewpoint - The financial performance of Xinda Real Estate has significantly declined in 2025, with a substantial drop in revenue and a considerable net loss attributed to reduced project deliveries and asset impairments [4][5]. Trading Information Summary - On October 31, 2025, Xinda Real Estate's stock closed at 3.74 yuan, up 0.27%, with a turnover rate of 0.49% and a trading volume of 139,500 shares, amounting to a transaction value of 52.08 million yuan [1]. - The net outflow of main funds was 393.16 million yuan, accounting for 7.55% of the total transaction value, while retail investors saw a net inflow of 553.97 million yuan, representing 10.64% of the total transaction value [2]. Shareholder and Capital Changes - As of September 30, 2025, the number of shareholders for Xinda Real Estate was 38,500, a decrease of 3,727 shareholders or 8.82% compared to June 30, 2025. The average shareholding per account increased from 67,500 shares to 74,000 shares, with an average market value of 302,000 yuan [3]. Performance Disclosure Highlights - For the first three quarters of 2025, Xinda Real Estate reported a main revenue of 2.692 billion yuan, a year-on-year decrease of 23.06%. The net profit attributable to shareholders was -5.309 billion yuan, a decline of 6021.43% [4][5]. - The third quarter alone saw a main revenue of 914 million yuan, down 5.47% year-on-year, with a net profit of -1.618 billion yuan, a drop of 737.91% [4]. - The company’s debt ratio stood at 70.83%, with total assets of 75.242 billion yuan, a decrease of 1.56% from the beginning of the year, and total liabilities of 53.296 billion yuan, an increase of 5.46% [5]. Company Announcement Summary - The actual controller of Xinda Real Estate has changed from the Ministry of Finance of the People's Republic of China to Central Huijin Investment Ltd., with the relevant announcement disclosed on September 6, 2025 [5].

Core Viewpoint - Xinda Real Estate (600657) has experienced a significant decline in both revenue and net profit for the first three quarters of 2025, indicating financial distress and operational challenges in the real estate sector [2][3]. Financial Performance - For the first three quarters of 2025, the company reported a total revenue of 2.692 billion yuan, a year-on-year decrease of 23.06% [2][3]. - The net profit attributable to shareholders was -5.309 billion yuan, reflecting a staggering year-on-year decline of 6021.43% [2][3]. - The third quarter alone saw a revenue of 914 million yuan, down 5.47% year-on-year, with a net profit of -1.618 billion yuan, a decrease of 737.91% compared to the same period last year [2][3]. Balance Sheet and Debt - As of September 30, 2025, total assets amounted to 75.242 billion yuan, a decrease of 1.192 billion yuan since the beginning of the year [3]. - Total liabilities reached 53.296 billion yuan, an increase of 2.798 billion yuan from the start of the year, resulting in a debt ratio of 70.83%, which is up 4.76 percentage points from the end of the previous year [3]. Shareholder Changes - The number of shareholders decreased to 38,500 as of September 30, 2025, representing a reduction of 8.82% from June 30, 2025 [4]. - The average number of shares held per shareholder increased from 67,500 to 74,000, with an average market value of 302,000 yuan per shareholder [4]. Project and Operational Updates - The company achieved a cumulative sales area of 413,200 square meters, with a sales amount of 7.558 billion yuan and cash collection of 7.908 billion yuan [3]. - New construction area was 429,500 square meters, while completed area was 682,000 square meters [3]. - The actual controller of the company changed from the Ministry of Finance to Central Huijin Investment Limited Liability Company as of September 6, 2025 [3].

Group 1 - The core point of the article is that Xinda Real Estate announced that the company has no overdue external guarantee situations [2][3]

Core Insights - The performance of A-share listed real estate companies in the first three quarters of 2025 shows a significant decline, with 41 out of 77 companies reporting net losses totaling -872.16 billion yuan [2][3][5] - The ongoing losses in the real estate sector since 2022 are attributed to low-profit project settlements and impairment provisions during market adjustments, although there is potential for recovery if the housing market gradually improves [2][9] Financial Performance Overview - A total of 77 A-share listed real estate companies disclosed their Q3 reports, with a combined revenue of 973.3 billion yuan [2][3] - 41 companies reported net losses, accounting for over 50% of the total, with the overall net loss for the sector reaching -674.89 billion yuan [5][9] Major Losses - Vanke reported a net loss of 28.02 billion yuan in the first three quarters, with a revenue of 161.39 billion yuan, primarily due to declining settlement scales and low gross margins [3][4] - *ST Jinke experienced a significant loss of 10.78 billion yuan, with total revenue dropping by 73.57% to 5.699 billion yuan [3][4] - Huaxia Happiness reported a net loss of 9.829 billion yuan, with revenue down 72.09% to 3.882 billion yuan [4] Other Notable Losses - Greenland Holdings and Xinda Real Estate reported losses exceeding 5 billion yuan, with Greenland's revenue down 20.16% to 127.697 billion yuan [4][5] - Jin Di Group and Huashang City A reported losses around 4 billion yuan, with Jin Di's revenue down 41.48% to 23.994 billion yuan [5] Companies with Positive Performance - Only 36 companies reported positive net profits, with notable performers including China Communications Real Estate, which achieved a net profit of 4.827 billion yuan after restructuring [6][8] - Other profitable companies include China Merchants Shekou, Nanjing High-Tech, and Binjiang Group, with net profits of 2.497 billion yuan, 2.438 billion yuan, and 2.395 billion yuan respectively [8] Market Outlook - The real estate sector has faced continuous losses since 2022, with challenges including low-profit project settlements and increased interest expenses [9] - Despite the ongoing difficulties, there are signs of potential recovery in core cities, with companies focusing on higher-margin projects to improve their financial performance [9]

证券代码：600657 证券简称：信达地产 编号：临 2025-042 号 关于召开 2025 年第三季度业绩说明会的公告 重 要 提 示 一、说明会类型 1 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： ● 会议召开时间：2025 年 11 月 21 日(星期五)下午 16:00-17:00 ● 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） ● 会议召开方式：上证路演中心网络互动 ● 投资者可于 2025 年 11 月 14 日(星期五)至 11 月 20 日(星期 四)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 dongban_dc@cinda.com.cn 进行提问。公司将在说明会 上对投资者普遍关注的问题进行回答。 信达地产股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日披露公司 2025 年第三季度报告，为便于广大投资者更全面深入 地了解公司 2025 年第三季度经营情况、财务状 ...

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： 担保对象及基本情况 证券代码：600657 证券简称：信达地产 公告编号：临 2025-043号 信达地产股份有限公司 关于为控股子公司提供担保的公告 担 保 对 象 被担保人名称 信达重庆房地产开发有限公司（以 下简称"信达重庆"）、西安信渝 园企业管理合伙企业（有限合伙） （以下简称"合伙企业"） 本次担保金额 14,862.00 万元 实际为其提供的担保余额 14,862.00 万元（含本次） 是否在前期预计额度内 ☑是 □否 □不适用：_________ 本次担保是否有反担保 □是 否 □不适用：_________ 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保余额（万元） | 1,826,756.99 | | 对外担保余额占上市公司最近一 期经审计净资产的比例（%） | 76.63 | | 特别风险提示（如有请勾选） | ☑对外担保总额（含本次）超过上市公司最 近 ...

Group 1 - Company Xinda Real Estate (SH 600657) announced on October 31 that its wholly-owned subsidiary, Xinda Chongqing, will establish a partnership to participate in the urban village renovation project in Xi'an [1] - The partnership involves Xinda Chongqing acting as a subordinate partner, providing a guarantee for the preferred partner's returns and assuming a buyback obligation for the preferred partner's shares under certain conditions [1] - The company has a maximum guarantee amount of 148.62 million yuan, with a guarantee period of three years from the fulfillment of obligations under the partnership agreement [1] Group 2 - As of September 30, 2025, the company's external guarantee balance is 18.268 billion yuan, accounting for 76.63% of the latest audited net assets [1] - For the first half of 2025, Xinda Real Estate's revenue composition is as follows: housing sales revenue accounts for 77.87%, other business for 18.41%, and leasing and others for 3.72% [1] - The current market capitalization of Xinda Real Estate is 10.7 billion yuan [1]

Core Viewpoint - Xinda Real Estate announced the establishment of a partnership to participate in a village renovation project in Xi'an, indicating strategic expansion efforts in urban development [1] Group 1: Partnership and Project Details - Xinda Chongqing, a wholly-owned subsidiary of Xinda Real Estate, is introducing priority partners to jointly establish Xi'an Xinyu Garden Enterprise Management Partnership (Limited Partnership) [1] - The partnership will engage in the DK14 relocation project in Zaoyuan Village, Xi'an, which is part of a broader urban redevelopment initiative [1] Group 2: Financial Obligations and Guarantees - Xinda Chongqing will act as a subordinate partner, providing a shortfall guarantee for the returns of the priority partners and assuming a buyback obligation for their shares [1] - The company has guaranteed these obligations with a maximum amount of 148.62 million yuan, with a guarantee period of three years from the fulfillment of the obligations [1] - This guarantee has been approved within the limits set by the company's shareholders' meeting, eliminating the need for further board or shareholder approval [1]

Summary of Key Points Core Viewpoint - Xinda Real Estate (SH 600657) reported significant sales performance for the first three quarters of 2025, indicating a strong market presence and revenue generation capabilities [1]. Company Performance - For the first three quarters of 2025, Xinda Real Estate achieved a cumulative real estate sales area of approximately 413,200 square meters [1]. - The cumulative sales amount reached approximately 7.558 billion yuan, with cooperative project sales contributing about 2.518 billion yuan and entrusted project sales amounting to around 1.507 billion yuan [1]. Revenue Composition - In the first half of 2025, the revenue composition of Xinda Real Estate was as follows: - Housing sales revenue accounted for 77.87% - Other business activities contributed 18.41% - Leasing and other income made up 3.72% [1].