AI总结 2023万科业绩发布会

<section style="text-align: center;margin-left: 16px;margin-right: 16px;"><img class="rich_pages wxw-img" data-ratio="0.5601851851851852" data-src="https://mmbiz.qpic.cn/mmbiz_png/zd226QNNqG6PIamfSuUpia2TTKqFA3szqJxwFNWDhOXFKDPckLUlyokHtzIleKia1Qa0TvPEGmWkDGpHfiaeyNA2g/640?wx_fmt=png" data-type="png" data-w="1080"></section><section style="outline: 0px;max-width: 100%;color: rgb(34, 34, 34);font-family: system-ui, -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: left;visibility: visible;margin-left: 16px;margin-right: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;"><span style="outline: 0px;max-width: 100%;color: rgb(0, 122, 170);font-size: 15px;visibility: visible;box-sizing: border-box !important;overflow-wrap: break-word !important;">2023.9.1</span></section><section style="outline: 0px;max-width: 100%;color: rgb(34, 34, 34);font-family: system-ui, -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: left;visibility: visible;margin-left: 16px;margin-right: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;"><span style="outline: 0px;max-width: 100%;font-size: 15px;visibility: visible;box-sizing: border-box !important;overflow-wrap: break-word !important;"><strong style="font-size: 16px;letter-spacing: 0.578px;text-wrap: wrap;"><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;">2023</span></strong><strong style="font-size: 16px;letter-spacing: 0.578px;text-wrap: wrap;"><span style="font-family: 微软雅黑, sans-serif;">万科业绩发布会总结</span></strong></span></section><section style="outline: 0px;max-width: 100%;color: rgb(34, 34, 34);font-family: system-ui, -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: left;visibility: visible;margin-left: 16px;margin-right: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;"><span style="outline: 0px;max-width: 100%;font-size: 15px;visibility: visible;box-sizing: border-box !important;overflow-wrap: break-word !important;"><br /></span></section><section style="outline: 0px;max-width: 100%;color: rgb(34, 34, 34);font-family: system-ui, -apple-system, BlinkMacSystemFont, &quot;Helvetica Neue&quot;, &quot;PingFang SC&quot;, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei UI&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;letter-spacing: 0.544px;white-space: normal;background-color: rgb(255, 255, 255);text-align: center;visibility: visible;margin-left: 16px;margin-right: 16px;box-sizing: border-box !important;overflow-wrap: break-word !important;"><em style="font-size: 16px;text-align: center;outline: 0px;max-width: 100%;letter-spacing: 0.544px;visibility: visible;box-sizing: border-box !important;overflow-wrap: break-word !important;"><span style="outline: 0px;max-width: 100%;color: rgb(136, 136, 136);font-family: &quot;Helvetica Neue&quot;, Helvetica, &quot;Hiragino Sans GB&quot;, &quot;Microsoft YaHei&quot;, Arial, sans-serif;font-size: 14px;letter-spacing: 0.544px;visibility: visible;box-sizing: border-box !important;overflow-wrap: break-word !important;">▼</span></em></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><br /></section><section style="margin-left: 16px;margin-right: 16px;"><span style="letter-spacing: 0.034em;font-size: 35px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">01 </span></strong></span><span style="letter-spacing: 0.034em;font-size: 20px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">上半年业绩概览</span></strong></span><br /></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">上半年市场景气度短暂回升但随后迅速下滑，行业形势仍然严峻。公司坚持了发展战略，着重发展经营服务业务，尽管开发业务受市场影响，规模和利润有所下降。然而，公司保持了财务底线，优化了资产结构，确保财务和资金状况的稳健。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">营业收入和净利润：<o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司上半年的营业收入为2008.9亿元，相较去年同期下降了2.9%。归属于上市公司的净利润为98.7亿元，同比下降了19.4%。这主要是由于房地产开发业务规模减少以及结算利润率的下降所致。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">毛利率情况：<o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">整体税前毛利率为18.9%，同比下降1.6个百分点。考虑折旧摊销后，采用经营资产成本法核算的毛利率为20.2%，较去年同期下降1.5个百分点。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">财务与资金状况：<o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司保持了稳健的财务和资金状况。经营现金流连续14年保持为正值，有息负债结构中短期占比降至14.2%。信用融资中，93.9%的融资没有抵押或质押。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">业务发展情况：<o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">在各业务领域，公司取得了一些积极的成果：<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">开发业务：尽管市场影响，公司依然保持在32个城市销售规模的前三位，总销售规模达到2039.4亿元。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">经营服务业务：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 收入增长11.9%，物业服务项目中，万物云叠层数增至601个，改造后的毛利率提升4个百分点。长租公寓出租率达95.9%，保障房数量增加至8.3万间。物流仓储冷链的稳定期使用率达到79%。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">商业服务：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> <o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">印力商业出租率达94.7%，商业管理服务项目达到88个。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">总体而言，公司在市场动荡的环境中，通过保持财务稳健、强调经营服务、不断优化资产结构，取得了在各业务领域的积极成果。<o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><br /></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><br /></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 35px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">02 </span></strong></span><span style="font-size: 20px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">上半年主要工作总结</span></strong></span><span style="font-size: 16px;"><strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;"><o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">1.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司上半年销售总结:</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">销售金额2039.4亿元，位居行业第一；销售回款率接近100%；毛利率20.3%，同比下降1.6个百分点；32个城市市场销售排名前三；实现9.2万套住宅平稳交付。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">2.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司上半年开发总结:</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">投资32个优质项目，投资区域更加集中；支付地价总额718.6亿元，地价均价16000元/平米；新开工、复工面积1196万平方米；竣工面积1290.5万平方米；产品线建设成效显著，朗拾系列及臻系列产品优化升级。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">3.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司上半年万物云总结:</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">在销售、建造、交付和居住四个阶段，万科物业努力提升客户的服务水平，并实施了各类配套设施的先行完善。经营业务方面，物业住、租赁住宅、物流仓储和商业业务均有不同程度的收入提升。万物云方面，上半年持续实施蝶城战略核心业务，住宅业务新签约项目增加，收入同比增长12.2%。商企服务业务也拓展到了客户边界。在物业服务方面，开展了多项行动确保客户满意度高位稳定。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">业务收入161.1亿元，同比增长12.2%；新增129个服务项目，223个新合约项目；服务1964个项目，合约项目2329个；住宅物业服务提升项目毛利率超过4个百分点；商企服务增加优质客户20家，高层项目7个。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">4.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司上半年租赁住宅总结:</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">管理长租公寓22.5万间，出租率95.9%；运营效率稳步提升，自有渠道获客率提升至82.3%；新增企业客户1524家，服务企业总数4460家；推进租赁住宅资产证券化，完成6个项目投资。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">5.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司上半年物流仓储业务总结:</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">收入19.5亿元，增长17%，冷链业务增长30%；可租赁面积达到985.2万平方米，出租率较高；冷链业务规模行业第一，管理141.5万平方米；在供应链管理、运营管理、质量控制等方面持续提升。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">6.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司上半年商业业务总结:</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">总营收43亿元，增长7.3%，印力营收27.4亿元；印力出租率94.7%，增长1.5个百分点；累计输出管理88个项目，新增委托项目34个；数字化提升经营效率，打造消费与社交体验。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">7.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司上半年数字化方面总结:</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">数据治理提升资产管理效率；数字化营销提升客户服务；在设计软件、BIM等领域持续研发投入。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;"><br /></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;"><br /></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 35px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">03 </span></strong></span><span style="font-size: 20px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">ESG亮点</span></strong></span><span style="font-size: 16px;"><strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;"><o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司在ESG（环境、社会、治理）方面取得了显著的成就和引人注目的进展：<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">绿色建筑和工业化发展：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 公司坚定推动绿色低碳理念，致力于绿色建筑和工业化建造。10年内连续满足绿色建筑评价标准，累计面积超过3.16亿平方米，标志着公司对可持续建筑的长期承诺。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">项目认证和标准：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">上半年新增32个项目获得绿色建筑三星、LEED铂金和金级认证，如天津东疆港冷链园区，展示了公司对可持续发展的切实行动。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">工业化推进和能效管理：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 公司在多个区域大规模推动工业化建设，超过2亿平方米的工业化建筑面积。智能能源系统、中水和雨水利用等技术的应用，以及能效管理的措施，进一步提升了公司的绿色运营能力。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">可再生能源应用：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 公司项目中37.5%引入可再生能源设计，冷库分布式光伏100%覆盖，体现了在能源方面的创新和可持续发展努力。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">低碳项目实践：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 上海万科理想之地项目成为低碳发展的亮点，通过全域低碳社区和近零碳社区的打造，为环境保护做出了显著贡献，同时获得多项技术荣誉认可。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">ESG</span></strong><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">评级和认可：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 公司的ESG评级在业界获得广泛认可，包括国证的ESC AA评级、纳入深圳ESC领先指数、恒深可持续发展指数的优异表现等，证明公司在环境、社会和治理领域的优秀表现。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">领导地位和荣誉：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 公司在ESG领域的领导地位得到确认，获得亚洲最佳企业管理团队榜首、中国ESG上市公司先锋100、新财富最佳ESG实践奖等多项荣誉，突显了其在可持续发展领域的影响力。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">总体而言，公司在ESG方面的成就表明其对环境保护、社会责任和良好治理的坚定承诺，不仅推动了自身可持续发展，也在行业中树立了榜样。<o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><br /></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><br /></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 35px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">04 </span></strong></span><span style="font-size: 20px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">下半年工作</span></strong></span><span style="font-size: 16px;"><strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;"><o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">开发业务：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 推进销售回款，探索新投资，提高投资兑现。优化采购、交付，确保高效品质。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">物业服务：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 优质基础服务，改进供应链，提升效率和品质，拓展市场，强化科技支持。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">租赁住宅：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 重点项目开业，创新业务模式，提升租赁率，建立多渠道交易路径。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">物流仓储：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 冷链聚焦，城市布局优化，加强客户服务，提供一体化供应链解决方案。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">商业服务：</span></strong><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"> 重点项目开业，提升服务与产品，增加经营回报，融合科技，提供卓越客户体验。<o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><br /></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><br /></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 35px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">05&nbsp;</span></strong></span><span style="font-size: 20px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">答疑部分主要问题单独总结</span></strong></span><span style="font-size: 16px;"><strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;"><o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">1.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">对全年及之后的业绩预期是怎么样的？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">全年业绩压力确实存在,主要来自于结算规模下降和结算毛利率下降。但公司经营安全完全没有问题,会继续坚持“开发、经营、服务”三者并重的战略。相信经过一段时间的调整后,开发和经营业务的毛利率将呈现稳定向好态势。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">2.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">如何看待当下市场形势，对后续市场有何预判？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">当前市场处于焦灼状态,存在过度悲观情绪。但供给端已显著回落,市场显然跌过头了。期待已出台的政策能尽快落实,带动市场恢复到健康合理水平。公司会继续提升安全底线,保持定力迎接市场复苏。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">3.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">从财务上来看，未来看这些盈利能力，尤其开发业务，是否能稳住或有所提升？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">销售毛利率下降是当前行业共同面临的问题。随着销售项目逐步交付,压力会在今明两年体现在结算业绩上,结算毛利率可能继续有所下滑。但新项目投资质量明显提升,盈利情况良好,相信开发经营业务的毛利率整体将稳定向好。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">4.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">若后续销售低迷，公司的现金流是否有压力？公司如何保证现金流？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司一直高度重视现金流管理,经营现金流多年保持正值。通过压力测试、动态规划等手段提前做好流动性管理,同时保持融资渠道畅通,已做好应对各种不利情况的准备,可以确保经营安全。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">5.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">目前监管账务的资金状况是怎么样的？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">预售监管资金按照政策规定管理,占公司货币资金约35%,对现金流影响有限。现金储备充裕,完全能确保偿还短期债务。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">6.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">销售下降的原因，以及公司后续如何平衡市场供需？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">销售下降主要因公司根据市场调整了经营规划,减少了库存退货。但销售转化率提高,现房去化加速,新项目开盘质量明显提升。下半年将继续优化产品组合,强化团队能力,稳步推进各项工作。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">7.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司接下来会怎么部署投资策略？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">将继续保持稳健的投资策略,严格投资标准,强调投资质量,适度控制投资规模和节奏。新项目投资回报率保持在合理水平,可以为公司业绩增长提供支持。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">8.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">今年的拿地收益率状况是怎么样的？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">新项目投资质量明显提升,目前股东回报率均在20%以上,兑现率达到93%。产品线建设成效显现,有力支持了新项目的销售业绩。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">9.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司终止了 A 股增发的申请，对业务会有什么影响，并且后续是否还会再考虑融资？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">终止A股增发主要考虑到股价处于低位,以及机构投资者的意见。不会对公司业务产生影响,仍将通过其他渠道筹集资金支持业务发展。未来若时机成熟还可考虑增发。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">10.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司如何看待商业地产，以及商业项目委托管理后的效果如何？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">商业地产具有韧性，公司商业地产收入保持增长。委托印力运营的项目效果良好，可发挥各自优势，为客户提供更优质服务。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">11.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司是否感觉到境外融资环境的变化，以及最近境外债到期的情况及兑付的一些计划，以及是否会安排跨境的资金偿还部分这个境外的一个债务。</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司境外融资环境正常，主要债务已提前置换，明年到期债务规模有限。已通过多种渠道做好偿债准备，确保能按期兑付。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">12.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司经营服务的业绩贡献是怎么样的？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">经营服务收入占比持续提升，已达到12%，竞争力不断增强，将是公司转型的重要组成部分。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">13.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司推进Reits的进展是怎么样的？</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">正在推进物流、商业和公寓等的Reits发行工作。Reits促进了公司内部管理水平提升，也与多家基金达成战略合作，提升了经营服务实力。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;"><br /></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;"><br /></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 35px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">06 </span></strong></span><span style="font-size: 20px;"><strong><span style="font-family: 微软雅黑, sans-serif;color: black;">答疑部分主要内容汇总总结</span></strong></span><span style="font-size: 16px;"><strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;"><o:p></o:p></span></strong></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">1.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">万科的经营模式会发生深刻变化</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">广发证券提问，公司中期业绩下滑的原因，以及对今年后期业绩的预测。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">万科回答称，上半年净利润下滑的原因是结算规模和毛利率的下降。虽然短期内会面临利润压力，但公司将继续以客户为中心、加强公司安全和提升业务能力。万科还介绍了在传统开发业务和经营服务业务方面的一些工作重点，并展望了房地产行业的中长期发展。最后，万科表示对公司的高质量发展有信心。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">2.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">万科会留足冗余度筑牢我们的安全底线</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">每日经济新闻提问了，关于市场形势和未来预判以及是否需要政策支持。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">管理层表示，市场处于焦灼状态，但万科对市场有信心，并认为当前政策已经在发力，希望政策能尽快落实到位。同时，管理层指出，市场有韧性，新的业务机会正在出现，万科正在进行经营服务并重的策略转型。对于盈利能力，管理层表示，行业面临共同问题，销售毛利率会有一定的压力，但新项目投资质量明显提升，投资盈利表现良好，相信经过调整，开发经营业务的毛利率将稳定向好。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">3.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">万科的经营策略和现金流管理</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">路透社提问了关于公司资金流的问题。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司管理层表示，虽然市场销售疲弱，但公司有足够信心保证经营安全，并通过稳健的财务策略和现金流管理保持着领先的信用等级。公司还在融资上保持畅通和多元化，优化了债务结构，并注重品种周期和境内外结构的优化。同时，公司严格执行预售监管资金政策，保持合理规范运作，整体的安全保障度还在提升。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">4.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">公司销售下降的原因及后续的推盘计划</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">花旗证券提问了关于公司销售下降原因以及如何平衡市场供需、土储、财务资金流、销售目标和推盘计划的问题。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司管理层回答了市场低迷、城市和板块分化、客户需求多元化、开发经营容错度收窄等特点，并表示未来需注重品质和效率。公司上半年销售面积和金额有所下降，但销售转化率提高，库存销售占比71%。公司加强了对现房和库存项目的销售，效果明显。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">5.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">万科的销售方案</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司在年初制定目标时，考虑了存量和增量、期房和现房的不同要求和绩效奖励制度，并通过实景场景和地产物业协同的优势，强化了现场销售。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">上半年有13个新项目入市，平均开盘周期为5.7个月，累计销售了215个亿，推盘去化率为91%。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">下半年将有28个新项目推出，主要分布在上海、杭州、合肥、成都等主要城市的主要板块。公司还注重产品信息建设，提高了转化率和客户满意度。同时，公司加强了团队的能力建设，通过培训和研究提高了团队的专业水平。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">6.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">万科的投资策略及投资标准</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">财新记者提问如何应对房地产风险蔓延的问题，包括如何平衡保交楼、投资和拿地的资金需求以及今年新拿地的收益率情况。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司管理层回答了万科集团投资强度在过去两年有所调整，注重投资质量，并根据市场和客户基础、产品解决方案和财务标准选择投资项目。目前已有11个项目开盘，预计今年下半年和明年上半年会有更多项目开盘，这些投资将为公司的业绩发展带来助力。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">7.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">介绍现金流的管理体系</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">讨论了现金流安全、经营现金流管理、投资规划、融资规划等多个方面。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司表示会通过动态的管理和综合的平衡来确保安全和健康的发展，同时也会密切关注市场机会去获取项目。此外，公司终止了A股股票发行预案，主要考虑到股价处于较低价位，机构投资人的担忧和不同意见，以及证监会政策的影响。公司会通过其他融资渠道来筹集资金，但后续是否会启动增发还要根据市场情况和投资者意愿进行审议。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">8.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">商业地产的消费和盈利</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">上海证券报提问公司对商业地产的看法，包括其是否是一门好的生意以及委托管理的效果如何。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">公司管理层表示，商业地产在过去30年一直在学习如何应对周期。到2023年，Reits政策将有利于持有和运营不动产，消费情况也有所好转，公司商业收入增长了7.3%。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">同时印力是中国最优秀的商业运营队伍，定位为城市居民消费基础设施的提供商。在境外融资方面，公司财务总监表示并未感觉到明显变化，境外债到期和兑付计划目前没有特别安排，会继续严格遵守财务纪律和保护安全底线。<o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-size: 16px;"><strong><em><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">9.</span></em></strong><strong><em><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);">介绍公司的经营服务业务</span></em></strong><span lang="EN-US" style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 16px;">万科发布了境外再融资情况，表示目前融资状况正常，明年将有三笔美元债到期，已启动相关还款准备工作。同时，万科也在积极推进瑞士业务，物流、消费基础设施和公寓的Reits工作正在有序进行，此举对公司经营服务业务有重要作用。</span><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);"><o:p></o:p></span></section><section style="background: white;margin-left: 16px;margin-right: 16px;text-align: right;"><br /></section><section style="background: white;margin-left: 16px;margin-right: 16px;text-align: right;"><span style="font-family: 微软雅黑, sans-serif;font-size: 15px;color: rgb(136, 136, 136);">——</span></section><section style="background: white;margin-left: 16px;margin-right: 16px;text-align: right;"><span style="font-family: 微软雅黑, sans-serif;color: rgb(55, 53, 47);font-size: 15px;">本文内容均为AI分析</span></section><section style="margin-right: 16px;margin-left: 16px;max-width: 100%;text-indent: 0em;white-space: normal;text-align: center;overflow-wrap: break-word !important;box-sizing: border-box !important;margin-bottom: 0px;"><span style="max-width: 100%;color: rgb(136, 136, 136);font-size: 12px;overflow-wrap: break-word !important;box-sizing: border-box !important;">-<span style="color: rgb(123, 127, 131);font-family: -apple-system, BlinkMacSystemFont, Arial, sans-serif;letter-spacing: 0.544px;text-align: center;caret-color: rgba(0, 0, 0, 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