Financial Performance - The company's operating revenue for 2024 was ¥178.95 billion, an increase of 2.25% compared to ¥175.01 billion in 2023[13]. - Net profit attributable to shareholders decreased by 36.09% to ¥4.04 billion from ¥6.32 billion in the previous year[13]. - The net profit after deducting non-recurring gains and losses fell by 57.27% to ¥2.45 billion, down from ¥5.73 billion in 2023[13]. - Basic earnings per share decreased by 43.08% to ¥0.37 from ¥0.65 in the previous year[13]. - The total assets at the end of 2024 were ¥860.31 billion, a decrease of 5.31% from ¥908.51 billion at the end of 2023[13]. - The net assets attributable to shareholders decreased by 7.28% to ¥111.01 billion from ¥119.72 billion in 2023[13]. - The cash flow from operating activities increased by 1.69% to ¥31.96 billion compared to ¥31.43 billion in 2023[13]. - The company reported a significant increase in non-operating income, totaling 1.59 billion CNY in 2024, compared to 586.90 million CNY in 2023[21]. - The weighted average return on equity decreased by 2.68 percentage points to 3.36% from 6.04% in the previous year[13]. Strategic Focus and Market Position - The company has adjusted its strategic focus from "regional focus, urban deep cultivation, comprehensive development" to "comprehensive focus, quality and efficiency co-driven, win-win between light and heavy" to enhance operational capabilities[26]. - The company aims to enhance its asset operation capabilities and optimize asset structure through public REITs, creating a sustainable industrial ecosystem[27]. - The company is positioned as a leading urban and park comprehensive development service provider in China, aiming to achieve its strategic goal of being among the top five in the industry[26]. - The company is focusing on increasing its market share in property services by improving service quality and operational efficiency[31]. - The company’s development business emphasizes high-quality residential projects, adhering to a "five precision" strategy to enhance product quality[27]. Real Estate Development and Projects - The company secured a total of 2,193.02 billion CNY in contracted sales, with a sales area of 9.359 million square meters in 2024[33]. - The company acquired 26 land parcels with a total planned construction area of approximately 2.25 million square meters, with a total land cost of about CNY 48.6 billion[33]. - The company launched a new product line called "3+1," which includes customized luxury living options and innovative design concepts[34]. - The company added 77 new construction management projects, increasing the managed area by approximately 898,000 square meters, focusing on explosive growth in this sector[35]. - The total revenue from the company's held properties reached CNY 7.464 billion, a year-on-year increase of 12%[36]. Financial Health and Investment - The asset-liability ratio, excluding advance receipts, was 62.37%, and the net debt ratio was 55.85%, maintaining a green status under the "three red lines" policy[32]. - The company has a diversified resource acquisition strategy, including land auctions, mergers and acquisitions, and light asset models[98]. - The financing balance at the end of the period was 22.26 billion yuan, with an average financing cost ranging from 1.45% to 7.35%[93]. - The company reported a loss of CNY 10,892.87 million from its total securities investments, with a total initial investment of CNY 21,464.07 million[138]. Corporate Governance and Management - The company maintains an independent operational structure, ensuring no interference from the controlling shareholder in asset, personnel, financial, institutional, and business aspects[173]. - The company has a complete and independent business system, capable of making independent decisions and assuming responsibilities and risks[174]. - The company has conducted multiple shareholder meetings in 2024, with participation rates ranging from 68.54% to 69.52%[176]. - The company is actively managing its board composition, with a focus on maintaining experienced leadership while addressing term expirations and personal reasons for resignations[180]. Future Outlook and Market Trends - The company anticipates a gradual recovery in the real estate market, driven by supportive policies and improved macroeconomic conditions[156]. - The company expects ongoing policy support for the real estate sector, focusing on demand release and supply improvement in 2025[158]. - The company aims to maintain a sense of urgency and seek structural opportunities in the new market environment[161]. - The company is expected to continue its focus on new product development and technological advancements in the upcoming fiscal year[166].

证券代码：001979 证券简称：招商蛇口 公告编号：【CMSK】2025-018 招商局蛇口工业区控股股份有限公司 关于 2024 年度利润分配预案的公告 重要内容提示： 1、招商局蛇口工业区控股股份有限公司（以下简称"公司"）2024 年度利润分配预 案为：以 2025 年 3 月 17 日的公司总股本 9,060,836,177 股扣除公司回购专用证券账户上 的股份 18,668,958 股后的股本总额 9,042,167,219 股为基数，向全体股东每 10 股派发现金 红利 1.9353 元（含税）。本年度不进行资本公积金转增股本。本次利润分配方案实施时， 如享有利润分配权的股份总额发生变动，则以实施分配方案时股权登记日的享有利润分 配权的股份总额为基数，按照分配总额不变的原则对每股分红金额进行调整。 2025 年 3 月 17 日，公司第四届董事会第一次会议审议通过了《关于审议 2024 年度 利润分配预案的议案》（9 票同意、0 票反对、0 票弃权）。董事会认为：公司 2024 年度 利润分配预案符合公司正常经营和长远发展需要，并综合考虑公司股东利益，符合中国 证监会《关于进一步落实上市公司现金 ...

证券代码：001979 证券简称：招商蛇口 公告编号：【CMSK】2025-012 招商局蛇口工业区控股股份有限公司 关于召开 2024 年度业绩说明会暨投资者交流会 并征集问题的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 招商局蛇口工业区控股股份有限公司（以下简称"公司"或"招商蛇口"） 拟于2025年3月18日披露《2024年年度报告》及其摘要，并于2025年3月18日召开 2024年度业绩说明会暨投资者交流会。 一、会议安排 董 事 会 二〇二五年三月十三日 广大投资者可通过公司官网（https://www.cmsk1979.com）、全景路演 （https://rs.p5w.net/html/145565.shtml）、路演中 （https://www.roadshowchina.cn/meet/detail.html?mid=24664）在线参加公 司2024年度业绩说明会暨投资者交流会。 特此公告。 招商局蛇口工业区控股股份有限公司 召开时间：2025年3月18日（星期二）15:30-17:00 出席人员：本公司董事长蒋铁峰、董事总经理朱文凯、 ...

证券代码：001979 证券简称：招商蛇口 公告编号：【CMSK】2025-011 招商局蛇口工业区控股股份有限公司 2025 年 2 月销售及近期购得土地使用权情况简报 董事会 二〇二五年三月八日 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 注："项目名称"列中，含"*"的项目为公司控股子公司招商局置地有限 公司（以下简称"招商局置地"，公司间接持有其 74.35%的股权）之全资子公司 新获取项目，所列示权益比例为招商局置地之全资子公司持有项目的权益比例。 上述新增项目情况统计口径包含公司参与投资的全部房地产项目。鉴于未来 公司可能就部分项目引入合作者，影响招商蛇口在项目中所占权益比例，上述比 例供投资者作阶段性参考。 特此公告。 招商局蛇口工业区控股股份有限公司 2025 年 2 月，公司实现签约销售面积 41.73 万平方米，实现签约销售金额 104.39 亿元。2025 年 1-2 月，公司累计实现签约销售面积 86.32 万平方米，累计 实现签约销售金额 194.53 亿元。鉴于销售过程中存在各种不确定性，上述销售 数据可能与公司定期报告披露的相关数据 ...

公司已与招商银行股份有限公司深圳分行签署《股票回购增持贷款合同》， 公司回购股份资金来源中的自筹资金，为招商银行股份有限公司深圳分行提供的 股票回购贷款。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相关规定，公司在回购期间应当在每个月的前三个交易日 内披露截至上月末的回购进展情况。现将回购进展情况公告如下： 一、回购公司股份的具体情况 截至 2025 年 2 月 28 日，公司累计通过回购专用证券账户以集中竞价交易方 式回购股份数量为 14,062,958 股，占公司总股本的比例为 0.155%，最高成交价 为 10.78 元/股，最低成交价为 9.27 元/股，支付的资金总额为人民币 143,600,634.97 元（含印花税、交易佣金等交易费用），本次回购符合既定的回 购方案和回购报告书，符合相关法律法规规定。 证券代码：001979 证券简称：招商蛇口 公告编号：【CMSK】2025-010 招商局蛇口工业区控股股份有限公司 关于回购公司股份的进展公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏。 招商局蛇口工 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [6] Core Views - The company's sales performance remains stable, but impairment provisions have negatively impacted its earnings. The company reported a year-on-year increase in revenue but a decline in net profit due to the overall turbulence in the real estate market [6][7] - The company has adjusted its profit forecasts for 2024-2026, expecting net profits of 40.4 billion, 59.7 billion, and 64.7 billion respectively, down from previous estimates of 50.9 billion, 70.0 billion, and 74.0 billion. The current stock price corresponds to a PE ratio of 22.0, 14.9, and 13.8 for the respective years [6][10] - The company continues to focus on acquiring land in core cities, maintaining a strong market position with ample saleable inventory and smooth financing channels, which is expected to enhance its market share in the future [6][8] Financial Performance Summary - In 2024, the company achieved total revenue of 1789.48 billion, a year-on-year increase of 2.25%. However, operating profit decreased by 36.54% to 90.00 billion, and net profit attributable to shareholders fell by 36.09% to 40.4 billion [7][10] - The net cash flow from operating activities was 319.64 billion, a year-on-year increase of 1.69%. By the end of 2024, the company's cash balance was 1003.51 billion, up 120.62 billion or 13.66% year-on-year [8] - The company has made sufficient impairment provisions totaling 59.4 billion, which impacted net profit by 43.4 billion. This includes provisions for credit losses, inventory write-downs, and goodwill impairment [9][10] Financial Forecasts - The company forecasts revenue growth of 5.4% in 2025 and 3.5% in 2026, with expected net profits of 5.97 billion and 6.47 billion respectively [10][16] - The projected EPS for 2024, 2025, and 2026 is 0.45, 0.66, and 0.71 respectively, with a corresponding PE ratio of 22.0, 14.9, and 13.8 [10][16]

根据资金安排，公司已于2025年3月3日提前归还人民币10,000万元至募集资 金专用账户，并将上述募集资金的归还情况通知了独立财务顾问中信证券股份有 限公司及主办人。剩余暂时补充流动资金的闲置募集资金将在到期前足额归还， 届时公司将及时履行信息披露义务。 董 事 会 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏。 招商局蛇口工业区控股股份有限公司（以下简称"公司"）于2024年10月30 日召开的第三届董事会第十三次会议和第三届监事会第十三次会议审议通过《关 于使用部分闲置募集资金暂时补充流动资金的议案》，同意公司使用不超过15.00 亿元（含15.00亿元）闲置募集资金暂时补充流动资金，使用期限不超过12个月 （自公司董事会审议批准之日起计算）,具体内容详见公司于2024年10月31日披 露的《招商局蛇口工业区控股股份有限公司关于归还募集资金及继续使用部分闲 置募集资金暂时补充流动资金的公告》（公告编号：【CMSK】2024-109）。 证券代码：001979 证券简称：招商蛇口 公告编号：【CMSK】2025-009 特此公告。 招商局蛇口工业区控股股份有限公 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [6][19]. Core Views - The company's sales performance remains stable, but impairment provisions have negatively impacted its earnings. The company reported a year-on-year increase in revenue, while net profit attributable to shareholders decreased significantly due to lower gross margins and increased impairment provisions [6][7]. - The company is focusing on acquiring land in core cities, maintaining a strong market position with sufficient saleable inventory and smooth financing channels. Future market share is expected to continue to rise [6][8]. Financial Performance Summary - In 2024, the company achieved total revenue of 1789.48 billion yuan, a year-on-year increase of 2.25%. However, operating profit fell by 36.54% to 90.00 billion yuan, and net profit attributable to shareholders decreased by 36.09% to 40.4 billion yuan [7]. - The company reported a net cash flow from operating activities of 319.64 billion yuan, a year-on-year increase of 1.69%. By the end of 2024, cash and cash equivalents amounted to 1003.51 billion yuan, up 120.62 billion yuan or 13.66% year-on-year [8]. - The company has made substantial impairment provisions totaling 59.4 billion yuan, which impacted net profit by 43.4 billion yuan. This includes provisions for credit losses, inventory write-downs, and goodwill impairment [9]. Earnings Forecast - The forecast for net profit attributable to shareholders for 2024-2026 is adjusted to 40.4 billion, 59.7 billion, and 64.7 billion yuan, respectively, with corresponding EPS of 0.45, 0.66, and 0.71 yuan. The current stock price corresponds to P/E ratios of 22.0, 14.9, and 13.8 times for the respective years [6][10].

Core Viewpoint - The second batch of land auctions in Shanghai continues to show strong demand, indicating a focus on high-quality residential land by real estate companies [1] Group 1: Auction Details - The land parcel is located in Jiading New City, covering an area of 38,000 square meters with a floor area ratio of 2.2 [1] - The starting price for the auction was 2.046 billion yuan, with a starting floor price of 24,500 yuan per square meter [1] - The final bid was won by China Merchants Shekou, with a transaction floor price of 31,850 yuan per square meter, resulting in a premium rate of 30% [1] Group 2: Market Implications - According to Zhang Wenjing, General Manager of Shanghai Data at China Index Academy, this round of land auction reflects the logic of real estate companies focusing on acquiring quality land in Shanghai [1] - It is anticipated that Shanghai will continue to increase the supply of quality land parcels, enhancing the heat of the land auction market [1] - This trend is expected to boost new housing market expectations and contribute to market stabilization [1]

2024年，房地产行业加速洗牌，千亿房企数量锐减至11家。在这场关乎生存的较量中，招商蛇口 （001979.SZ）以2,193亿元的全口径销售金额位列克而瑞销售榜第五位，逆势而上，继续保持在行业第 一阵营。 现金充沛与债务安全构筑护城河，新拿地聚焦核心区域 在地产行业深度调整的2024年，招商蛇口以"稳健"为底色，交出了一份兼具防御性与成长性的答卷。招 商蛇口于2024年报告期末货币资金余额1,003.51亿元，同比增加120.62亿元，增长13.66%；现金短债比 1.58，同比提升0.3。 在土地投资策略上，招商蛇口明确聚焦于一线和强二线城市，尤其是"强心30城"和"核心6+10城"，资源 投放进一步向上海、杭州、北京、深圳等城市倾斜。 分析人士指出，一方面，核心城市的土地资源稀缺性与市场需求韧性，使得招商蛇口在项目获取与销售 去化上更具优势。2024年，招商蛇口累计实现签约销售面积935.90万平方米，签约销售金额达2,193.02 亿元，显示出其在核心市场的强大竞争力。另一方面，聚焦核心城市也意味着更高的土地成本与开发难 度，但招商蛇口凭借其央企背景与综合开发能力，能够更好地应对这些挑战。其中，招商蛇 ...