<p>香港，2026 年 3 月 29 日 -（ACN Newswire）- 首程控股（0697.HK）2025 年年度报告发出了明确的信号：公司正进入其所称的 “历史最佳时期”。这一评估的关键不仅在于单一业务板块的增长，更在于经过八年的持续转型，首程控股已建立起 “产业基金 + 资产管理” 的双引擎核心商业模式，并正进入加速收益实现的新阶段。</p>
<p>在董事长声明中，董事长赵天阳指出，在过去的八年中，公司完成了从剥离不良资产和注入优质资产，到资产重组、深度产业耕耘，最终实现收益的持续演变。如今，公司正稳步进入中高速增长阶段。这也意味着首程控股已超越早期的重组与恢复逻辑，进入一个以明确核心业务、成熟商业模式和加速价值释放为特征的新周期。</p>
<p>从商业框架的角度来看，“产业基金 + 资产管理” 已成为公司最重要的增长引擎。前者负责价值发现、项目投资和确保优质资产，而后者则负责提升运营效率、积累现金流和资产增值。两者共同形成了一个涵盖投资、运营和退出的闭环模型，使公司具备更强的收益稳定性和未来增长的更大确定性。</p>
<p>在这些业务中，产业基金板块的增长尤为强劲。2025 年，公司产业基金业务相关收入达到约 4.02 亿港元，同比增长约 37%。这表明该板块已超越单一管理费模式，进入由 “管理费 + 投资收益” 双引擎驱动的新阶段。同时，公司正在推进两个核心基金的推出：一个是战略新兴和未来产业基金，另一个是资产重组专项基金，其基金矩阵持续扩展。</p>
<p>资产管理业务进一步巩固了公司的收益基础。2025 年，首程控股协助发行了七只公开募集的 REITs，并服务于 20 多个项目，总发行规模超过 1000 亿元人民币。公司还继续扩大在科技园区、消费基础设施、数据中心和清洁能源领域的布局。在其静态交通业务中，公司已从单一停车费模式升级为多元化商业收入生成。创新业务收入占该板块的 20%，而每个停车位的收入收益增长了 17%，展示了公司在实现稳定现金流和资产增值方面的能力。</p>
<p>总体而言，当前首程控股最值得注意的并不仅仅是其收益增长本身，而是其 “产业基金 + 资产管理” 的双核心业务已形成完整的闭环，公司正从 “完成转型” 向 “实现价值” 迈进。“历史最佳时期” 这一说法最恰如其分地证明了这一关键的飞跃。</p>
<p>来源：首程控股</p>
<p>版权 2026 ACN Newswire。保留所有权利。</p>

05723

房地产ETF

华宝中证800地产ETF

首程控股

南方中证全指房地产ETF

华夏中证全指房地产ETF

广发中证全指金融地产ETF

<p>首程控股报告称，工业基金收入同比增长 37%，在 2025 年达到约 4.02 亿港元。公司建立了 “工业基金 + 资产管理” 的双核心商业模式，增强了收益的稳定性和增长的确定性。董事长赵天阳强调了公司在八年间的演变，从重组阶段迈向收益实现加速的阶段。资产管理部门进一步巩固了收益，发行了七只公开募集的房地产投资信托基金，并扩展到多个领域。首程控股现在处于其所称的 “历史最佳时期”</p>

<p>HONG KONG, Mar 29, 2026 - (ACN Newswire) - The 2025 annual report of Shoucheng Holdings (0697.HK) sends a clear signal: the company is entering what it describes as its 'best period in history.' The key to this assessment lies not merely in the growth of a single business segment, but in the fact that, after eight years of continuous transformation, Shoucheng Holdings has established a dual-engine core business model of 'industrial funds + asset management' and is now entering a new phase of accelerated earnings realization.</p>
<div class="lb-trans"><p>香港，2026 年 3 月 29 日 -（ACN Newswire）- 首程控股（0697.HK）2025 年年度报告发出了明确的信号：公司正进入其所称的 “历史最佳时期”。这一评估的关键不仅在于单一业务板块的增长，更在于经过八年的持续转型，首程控股已建立起 “产业基金 + 资产管理” 的双引擎核心商业模式，并正进入加速收益实现的新阶段。</p>
</div><p>In his Chairman's Statement, Chairman Zhao Tianyang noted that over the past eight years, the company has completed a continuous evolution from the divestment of non-performing assets and the injection of high-quality assets, to asset restructuring, deep industrial cultivation, and finally the realization of returns. Today, the company is steadily entering a stage of medium-to-high-speed growth. This also means that Shoucheng Holdings has moved beyond its earlier restructuring-and-recovery logic and into a new cycle marked by clear core businesses, a mature business model, and accelerating value release.</p>
<div class="lb-trans"><p>在董事长声明中，董事长赵天阳指出，在过去的八年中，公司完成了从剥离不良资产和注入优质资产，到资产重组、深度产业耕耘，最终实现收益的持续演变。如今，公司正稳步进入中高速增长阶段。这也意味着首程控股已超越早期的重组与恢复逻辑，进入一个以明确核心业务、成熟商业模式和加速价值释放为特征的新周期。</p>
</div><p>From a business framework perspective, 'industrial funds + asset management' has become the company's most important growth engine. The former is responsible for value discovery, project investment, and securing high-quality assets, while the latter is responsible for operational efficiency enhancement, cash flow accumulation, and asset appreciation. Together, they form a closed-loop model spanning investment, operation, and exit, giving the company stronger earnings stability and greater certainty of future growth.</p>
<div class="lb-trans"><p>从商业框架的角度来看，“产业基金 + 资产管理” 已成为公司最重要的增长引擎。前者负责价值发现、项目投资和确保优质资产，而后者则负责提升运营效率、积累现金流和资产增值。两者共同形成了一个涵盖投资、运营和退出的闭环模型，使公司具备更强的收益稳定性和未来增长的更大确定性。</p>
</div><p>Among these businesses, the industrial fund segment has delivered particularly strong growth. In 2025, revenue related to the company's industrial fund business reached approximately HKD 402 million, representing a year-on-year increase of about 37%. This shows that the segment has moved beyond a single management-fee model and entered a new phase driven by a dual engine of 'management fees + investment returns.' At the same time, the company is advancing the launch of two core funds: a strategic emerging and future industries fund, and a special fund for asset restructuring, with its fund matrix continuing to expand.</p>
<div class="lb-trans"><p>在这些业务中，产业基金板块的增长尤为强劲。2025 年，公司产业基金业务相关收入达到约 4.02 亿港元，同比增长约 37%。这表明该板块已超越单一管理费模式，进入由 “管理费 + 投资收益” 双引擎驱动的新阶段。同时，公司正在推进两个核心基金的推出：一个是战略新兴和未来产业基金，另一个是资产重组专项基金，其基金矩阵持续扩展。</p>
</div><p>The asset management business has further strengthened the company's earnings foundation. In 2025, Shoucheng Holdings assisted in the issuance of seven publicly offered REITs and served more than 20 projects, corresponding to a total issuance scale of over RMB 100 billion. The company also continued to expand its presence in technology parks, consumer infrastructure, data centers, and clean energy. In its static transportation business, the company has promoted an upgrade from a single parking-fee model to diversified commercial revenue generation. Innovative business revenue accounted for 20% of the segment, while revenue yield per parking space increased by 17%, demonstrating the company's ability to achieve both stable cash flow and asset appreciation.</p>
<div class="lb-trans"><p>资产管理业务进一步巩固了公司的收益基础。2025 年，首程控股协助发行了七只公开募集的 REITs，并服务于 20 多个项目，总发行规模超过 1000 亿元人民币。公司还继续扩大在科技园区、消费基础设施、数据中心和清洁能源领域的布局。在其静态交通业务中，公司已从单一停车费模式升级为多元化商业收入生成。创新业务收入占该板块的 20%，而每个停车位的收入收益增长了 17%，展示了公司在实现稳定现金流和资产增值方面的能力。</p>
</div><p>Overall, what is most noteworthy about Shoucheng Holdings at present is not just its earnings growth itself, but the fact that its dual-core businesses of 'industrial funds + asset management' have formed a complete closed loop, and the company is now moving from 'completing transformation' to 'realizing value.' The phrase 'best period in history' is the most fitting testament to this pivotal leap forward.</p>
<div class="lb-trans"><p>总体而言，当前首程控股最值得注意的并不仅仅是其收益增长本身，而是其 “产业基金 + 资产管理” 的双核心业务已形成完整的闭环，公司正从 “完成转型” 向 “实现价值” 迈进。“历史最佳时期” 这一说法最恰如其分地证明了这一关键的飞跃。</p>
</div><p>Source: Shoucheng Holdings</p>
<div class="lb-trans"><p>来源：首程控股</p>
</div><p>Copyright 2026 ACN Newswire . All rights reserved.</p>
<div class="lb-trans"><p>版权 2026 ACN Newswire。保留所有权利。</p>
</div>

Shoucheng HoldingsReports Approximately 37% Year-on-Year Growth in Industrial Fund Revenue, with Its Dual-Core Businesses Opening Up New Space for Earnings Realization

首程控股报告称其工业基金收入同比增长约 37%，双核业务为收益实现开辟了新的空间