证券日报网讯 2月11日，滨江集团在互动平台回答投资者提问时表示，截至2026年2月10日，公司合并 普通账户和融资融券信用账户的在册股东总户数为27252户。 （文章来源：证券日报） ...

Core Viewpoint - Binhai Group has successfully acquired a state-owned construction land use right in Huzhou, enhancing its land reserves in the Zhejiang North region and demonstrating confidence in the local real estate market [1][2]. Group 1: Company Developments - The acquired land, covering an area of 51,524 square meters with a total price of 503 million yuan, is strategically located near established residential areas and schools, indicating a strong market potential [1]. - This acquisition follows a previous successful bid for another prime land parcel in Huzhou, showcasing the company's commitment to expanding its presence in the region [1]. - Binhai Group's land acquisition strategy aligns with its "622" investment approach, allocating 60% of funds to Hangzhou, 20% to other cities in Zhejiang, and 20% to markets outside the province, particularly focusing on Shanghai [2]. Group 2: Industry Context - The Yangtze River Delta region is recognized for its economic vitality and urbanization, with core cities showing resilience and value certainty in the real estate market compared to non-core areas [2]. - Recent policy support for the real estate sector, including measures to stabilize the market and improve liquidity for developers, is expected to benefit financially sound companies like Binhai Group [3]. - The company has demonstrated strong operational resilience, with 34 new projects launched in 2025, totaling 2.703 million square meters, and achieving a sales revenue of 101.7 billion yuan, ranking it among the top ten real estate firms in China [3][4]. Group 3: Financial Performance - As of the end of 2025, Binhai Group has optimized its debt structure, reducing interest-bearing liabilities to 26.2 billion yuan, a decrease of over 4 billion yuan from the previous year [4]. - The average financing cost has declined to 3.0%, reflecting the capital market's recognition of the company's asset value and management capabilities [4]. - In 2025, Binhai Group acquired 26 new land parcels with a total investment of 48.7 billion yuan, positioning it as the seventh largest in land acquisition among Chinese real estate companies [4][5].

Investment Rating - The report rates the real estate sector as "Outperform" [6] Core Insights - The real estate market is experiencing significant year-on-year growth due to a low base from the previous year, particularly during the Spring Festival period, but there is a month-on-month decline in transactions [1][6] - The Shanghai pilot program for purchasing second-hand homes for rental housing is expected to positively influence market expectations and confidence if implemented effectively [2][6] - The new housing transaction area has shifted from positive to negative month-on-month, with a narrowing year-on-year growth rate [6][17] - The inventory of new homes is decreasing both month-on-month and year-on-year, while the de-stocking cycle has decreased month-on-month but increased year-on-year [6][46] Summary by Sections New Housing Market Tracking - In the week of January 31 to February 6, 2026, new housing transaction volume in 40 cities was 17,000 units, a month-on-month decrease of 4.3% and a year-on-year increase of 225.1% [18][19] - The new housing transaction area was 163.1 million square meters, with a month-on-month decline of 9.6% and a year-on-year increase of 203.0% [18][27] - The transaction volume and area for first, second, and third/fourth-tier cities showed varying month-on-month and year-on-year growth rates [20][21][22] Second-Hand Housing Market Tracking - The transaction area for second-hand homes in 18 cities was 174.1 million square meters, with a month-on-month decline of 4.7% and a year-on-year increase of 349.7% [6][19] - The month-on-month decline in transaction volume for second-hand homes is more pronounced in first-tier cities compared to second and third/fourth-tier cities [6][19] Inventory and De-stocking Cycle - The inventory of new homes in 12 cities was 11,235 million square meters, with a month-on-month decrease of 0.7% and a year-on-year decrease of 6.4% [46][47] - The de-stocking cycle for new homes is 17.4 months, showing a month-on-month decrease but a year-on-year increase [46][47] Land Market Tracking - The total area of land transactions across 100 cities was 1,188.4 million square meters, with a month-on-month increase of 74.1% and a year-on-year increase of 582.1% [6][14] - The average land price per square meter decreased month-on-month and year-on-year, indicating a cooling in land prices [6][14] Investment Recommendations - The report suggests focusing on companies with stable fundamentals in core cities, those that have made significant breakthroughs in sales and land acquisition, and commercial real estate companies exploring new consumption scenarios [7][6]

证券代码：002244 证券简称：滨江集团 公告编号：2026-002 特此公告。 杭州滨江房产集团股份有限公司 董事会 二○二六年二月十一日 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 2026 年 2 月 10 日，公司竞得浙江省湖州市下述地块的国有建设 用地使用权： | 序号 | | 地块编号 | | 规划用途 | 建设用地面 | 容积率 | 土地总价 | 土地权益 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 积(㎡) | | (万元) | | | 1 | 湖新区 | 2026-01 | 号 | 住宅 | 51524 | 1.8 | 50300 | 100% | 公司在上述项目中所占权益比例可能发生变化，上述比例仅供投 资者作阶段性参考。 杭州滨江房产集团股份有限公司 关于竞得土地使用权的公告 ...

Group 1 - The company announced that it has successfully acquired the land use rights for a state-owned construction site in Huzhou, Zhejiang Province, with a total land area of 51,524 square meters and a planned usage for residential development [1] - The total price for the land is 503 million yuan, and the company holds 100% of the land rights, although the proportion of rights may change in the future [1] - The plot has a floor area ratio of 1.8, indicating the potential for significant residential development on the site [1]

Investment Rating - The report maintains a "Buy" rating for the real estate sector, indicating a positive outlook for investment opportunities in this area [4]. Core Insights - The "old-for-new" policy is being reintroduced in Shanghai, which is expected to effectively stabilize housing prices and stimulate market activity [10][26]. - The policy focuses on acquiring second-hand homes to address inventory issues and enhance market liquidity, with specific criteria for eligible properties [10][26]. - The anticipated financial impact includes a potential market transaction increase of approximately 1,080 billion yuan, representing a 9% boost to total market transactions and a 24% increase in new home sales [3][10]. Summary by Sections 1. Background of the "Old-for-New" Policy - The central government has emphasized the need for policies that control inventory and improve supply, with the "old-for-new" initiative aligning closely with these goals [10][11]. 2. Historical Experience of "Old-for-New" - The "old-for-new" model is categorized into acquisition and assistance types, with the acquisition model being more effective in driving sales [16][21]. - The acquisition model has been implemented in over 20 cities, with a total of 14,520 units identified for trial [16][21]. 3. Shanghai's "Old-for-New" Policy - The policy aims to stabilize housing prices by focusing on second-hand homes, with specific requirements for properties built before 2000 and under 400 million yuan [3][10]. - The estimated funding requirement for the acquisition of 27,000 units is approximately 54 billion yuan, leveraging a 1:2 replacement ratio to maximize market impact [3][10]. 4. Feasibility of the Latest "Old-for-New" Policy - Shanghai is positioned as a key city for the implementation of this policy due to its strong government credibility and market stability [3][10]. - The second-hand housing market in Shanghai has shown signs of stabilization, with a reduction in the average transaction cycle to 22.2 months and a 2% month-on-month price rebound [3][10]. 5. Investment Recommendations - The report suggests that the current environment, characterized by improving transaction volumes and prices in the second-hand market, presents significant investment opportunities [3][10].

房地产行业根環居报 ■ 证券研究报告 0 投资评级:看好(维持) 最近 12 月市场表现 1. 《房地产行业跟踪周报》 2026-02- 03 2. 《现实不弱,预期增强,逢低布局》 2026-01-31 3. 《 房地产行业跟踪周报 》 2026-01- 27 上周房地产板块（中信）涨跌幅 0.0%,同期沪深 300、万得全 A 指数涨跌幅 分别为-1.3%、-1.5%，超额收益分别为 1.3%、1.4%。29 个中信行业板块 中房地产位列第 15 名 。 ( 1 ) 新房市场: 上周(2026/1/31-2026/2/6)36 城新房成交面积 139.2 万 � 方,环比-2.9%，同比+175.7%。2026年 2 月 1 日至 2 月 6 日累计成交 120.4 万方,同比+257.9%。今年截至 2 月 6 日累计成交 679.8 万方,同比 -16.2%。 （２）二手房市场:从二手房成交看,上周(2026/1/31-2026/2/6)15 城二 * 手房成交面积 164.4 万方, 环比-3.6%，同比+245.8%。2026 年 2 月 1 日 至 2 月 6 日累计成交 153.5 万方,同比 ...

Investment Rating - The report maintains a "Recommendation" rating for the real estate sector, specifically highlighting the promotion of "good housing" construction in Fujian [2]. Core Insights - The report indicates a seasonal decline in new and second-hand housing transactions, with new housing transaction area in 20 cities decreasing by 9% week-on-week but increasing by 147% year-on-year. The total transaction area for new housing was 170 million square meters [22][21]. - The second-hand housing market showed a similar trend, with a 7% week-on-week decrease but a 174% year-on-year increase in transaction area, totaling 199 million square meters [27][24]. - The report emphasizes the importance of addressing three key issues in the real estate market: declining new housing demand, unresolved inventory, and the negative impact of land finance on the economy [6]. Industry Data - The real estate sector consists of 107 listed companies with a total market capitalization of approximately 1,270.7 billion yuan and a circulating market capitalization of about 1,217.1 billion yuan [2]. - The sector's performance in the past month shows an absolute increase of 2.3%, a 6-month increase of 7.4%, and a 12-month increase of 12.8% [3]. Policy Developments - Fujian province has introduced measures to stabilize the real estate market, focusing on promoting housing consumption and inventory reduction, including optimizing shared ownership policies and encouraging the purchase of existing homes [15][18]. - Gansu province has adjusted its housing provident fund loan policies, increasing the maximum loan amounts for single and married contributors [15][18]. Sales Performance - In the first week of February, the average daily transaction area for new housing in 20 cities was 24.3 million square meters, with a cumulative transaction area of 838 million square meters year-to-date, reflecting a 28% year-on-year decrease [22][21]. - The report notes that the average transaction area for second-hand housing in 11 cities was 28.5 million square meters, with a cumulative area of 1,067 million square meters year-to-date, indicating a 23% year-on-year increase [27][24]. Investment Strategy - The report suggests focusing on three areas to find alpha in the real estate sector: precision in land acquisition for developers, stable income assets such as leading shopping centers, and leading real estate agencies that enhance transaction efficiency [6].

股票频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 2月9日，A股市场房地产（核心股）股走强，其中，沙河股份涨停，珠免集团涨超6%，新城控股涨超 5%，盈新发展、金地集团、京投发展、滨江集团、绿地控股、黑牡丹、华发股份涨超4%，深振业A、 招商蛇口、华联控股、万科A、京能置业、北辰实业涨超3%。 消息面上，1）江苏省政府召开房地产（核心股）从业人员座谈会，研究稳定提振房地产市场政策举 措；2）全国两会政策前瞻闭门研讨会：建议增发国债、降息、稳楼市；3）福建印发《关于推动城市高 质量发展的实施意见》提出，稳步推进城中村和危旧房改造，支持老旧住房自主更新、原拆原建；4） 深圳市2月5日举行城市更新工作现场推进会指出，因地制宜推进城市有机更新，加快建设安全、舒适、 绿色、智慧的"好房子"。 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 000014 | 沙河股份 | 1 | 66.6 | 35.17亿 | 8.03 | | 600185 | 珠免集团 | 1 | 6.64 | 151亿 | 17. ...

格隆汇2月9日｜A股市场房地产股走强，其中，沙河股份涨停，珠免集团（维权）涨超6%，新城控股 涨超5%，盈新发展（维权）、金地集团、京投发展、滨江集团、绿地控股、黑牡丹（维权）、华发股 份涨超4%，深振业A、招商蛇口、华联控股、万科A、京能置业、北辰实业涨超3%。 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 000014 | 沙河股份 | 1 | 9.99 | 35.17亿 | 8.03 | | 600185 | 珠免集团 | 1 | 6.64 | 151亿 | 17.91 | | 601155 | 新城控股 | | 5.46 | 410亿 | 30.18 | | 000620 | 盈新发展 | | 4.98 | 198亿 | 25.75 | | 000609 | ST中调 | + | 4.98 | 25.86 乙 | -2.92 | | 600383 | 金地集团 | | 4.82 | 157亿 | 13.73 | | 600683 | 京投发展 | 1 | 4.79 | 46.97亿 | 48 ...