股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2026年1月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 九龍建業有限公司 | | | 呈交日期: | 2026年2月5日 | | | I. 法定/註冊股本變動 | 不適用 | | | 備註： | | | | 九龍建業有限公司並無法定股本，及其股本並無股份面值。 | | | FF301 第 1 頁 共 10 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 1. 股份分類 普通股 股份類別 不適用 於香港聯交所上市 (註1) 是 證券代號 (如上市) 00034 說明 股份 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 1,306,206,058 0 1,306,206,058 增加 / 減少 (-) 0 0 本月底結存 1,306,206,058 0 1,306,206,058 足夠公眾持股量的確認(註4) | 根據《主板上市規則》第13.32D ...

Core Viewpoint - As of January 15, a total of 105 stocks reached their 52-week highs, with notable performers including 德莱建业 (01546), 东曜药业－Ｂ (01875), and 大森控股 (01580) achieving high rates of 78.00%, 51.36%, and 37.61% respectively [1]. Summary by Category 52-Week Highs - 德莱建业 (01546) closed at 0.355, with a peak of 0.445, marking a high rate of 78.00% [1]. - 东曜药业－Ｂ (01875) closed at 4.190, reaching a high of 4.450, with a high rate of 51.36% [1]. - 大森控股 (01580) closed at 0.275, with a peak of 0.300, achieving a high rate of 37.61% [1]. - 顺兴集团控股 (01637) and 怡园酒业 (08146) also showed significant increases, with high rates of 36.36% and 24.74% respectively [1]. Additional Notable Stocks - JBB BUILDERS (01903) reached a high rate of 24.12% with a closing price of 2.830 [1]. - 天臣控股 (01201) and 江苏创新 (02116) had high rates of 15.38% and 15.00% respectively [1]. - 万国黄金集团 (03939) and 竣球控股 (01481) also performed well, with high rates of 12.95% and 12.44% respectively [1]. 52-Week Lows - The report also noted stocks reaching 52-week lows, with 天彩控股 (03882) showing a low rate of -14.42% [3]. - 中国智慧能源 (01004) and 基石控股 (01592) followed with low rates of -13.64% and -12.86% respectively [3]. - 弘毅文化集团－旧 (02990) and 中原建业 (09982) also reported significant declines of -9.09% and -6.06% respectively [3].

Summary of Key Points Core Viewpoint - As of January 9, a total of 73 stocks reached their 52-week highs, with notable performances from Lingxiong Technology (02436), Delai Construction (01546), and Zhipu (02513) showing significant growth rates of 104.99%, 38.89%, and 22.22% respectively [1]. 52-Week Highs - Lingxiong Technology (02436) closed at 11.760, with a peak price of 15.600, achieving a high rate of 104.99% [1]. - Delai Construction (01546) closed at 0.161, reaching a maximum of 0.250, with a high rate of 38.89% [1]. - Zhipu (02513) had a closing price of 158.600 and a peak of 165.000, resulting in a high rate of 22.22% [1]. - Other notable stocks include Asia Pacific Satellite (01045) with a high rate of 20.64% and Rongda Technology (09881) at 12.87% [1]. 52-Week Lows - The stocks reaching their 52-week lows include Lishi International (00842) with a closing price of 0.850, marking a decline of 39.29% [2]. - Bokan Vision Cloud - B (02592) closed at 2.930, with a decrease of 16.90% [2]. - Lingzai Technology Finance (00093) reached a low of 0.485, reflecting a drop of 14.77% [2].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年12月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 九龍建業有限公司 | | | | 呈交日期: | 2026年1月2日 | | | | I. 法定/註冊股本變動 不適用 | | | | | 備註： | | | | | 九龍建業有限公司並無法定股本，及其股本並無股份面值。 | | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00034 | 說明 | | 股份 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 ...

FF301 第 1 頁 共 10 頁 v 1.1.1 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年11月30日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 九龍建業有限公司 | | | 呈交日期: | 2025年12月1日 | | | I. 法定/註冊股本變動 不適用 | | | | 備註： | | | | 九龍建業有限公司並無法定股本，及其股本並無股份面值。 | | | FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00034 | 說明 | | 股份 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年10月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 九龍建業有限公司 | | | 呈交日期: | 2025年11月3日 | | | I. 法定/註冊股本變動 不適用 | | | | 備註： | | | | 九龍建業有限公司並無法定股本，及其股本並無股份面值。 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00034 | 說明 | | 股份 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | ...

Core Insights - In September, the Hong Kong Lands Department reported three new private residential projects applying for pre-sale consent, involving 909 units, a decrease of 550 units or 37.7% month-on-month [1] - The three new projects include the SIERRA SEA Phase 2B by New World Development (00016) with 522 units, the first phase of the Kowloon Development (00034) project at Ngau Chi Wan with 361 units, and a project by Far East Consortium (00035) offering 26 houses [1] - As of the end of September, there are 8,902 residential units pending pre-sale consent, an increase of 11% month-on-month, marking an eight-month high [1] - In September, only one pre-sale consent was granted for a project at 8 Wo Mei Red Cotton Road in Sai Kung, involving 51 units, breaking a four-month streak of no approvals [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年9月30日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 九龍建業有限公司 | | | 呈交日期: | 2025年10月2日 | | | I. 法定/註冊股本變動 | 不適用 | | | 備註： | | | | 九龍建業有限公司並無法定股本，及其股本並無股份面值。 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00034 | 說明 | | 股份 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | ...

Financial Performance - For the six months ended June 30, 2025, the attributable profit to shareholders was HKD 312 million, an increase of 8.0% compared to HKD 289 million for the same period in 2024[16]. - The basic interim earnings per share for 2025 was HKD 0.239, slightly lower than HKD 0.246 in 2024[16]. - The unaudited profit attributable to shareholders, considering fair value changes of property development interests and impairment of investment properties, was HKD 125 million, a 10.6% increase from HKD 113 million in 2024[18]. - The interim dividend for 2025 was declared at HKD 0.10 per share, unchanged from 2024[18]. - The operating revenue for the six months ended June 30, 2025, was HKD 2.429 billion, an increase of 25.2% compared to HKD 1.941 billion in 2024[45]. - The group recorded a net profit of HKD 115.121 million for the period, slightly up from HKD 113.104 million in the previous year[45]. - Total comprehensive income for the period reached HKD 214,304,000, significantly up from HKD 78,542,000 in the previous year, indicating a year-over-year increase of 172.5%[46]. - The company reported a profit of HKD 115,121,000 for the six months ended June 30, 2025, compared to HKD 113,104,000 for the same period in 2024, representing a growth of 1.8%[46]. - The group reported a profit before tax of HKD 195,801,000, compared to HKD 199,345,000 for the same period in 2024, indicating a slight decrease of 1.8%[61]. - The company reported a pre-tax profit of HKD 73,965,000 for the six months ended June 30, 2025, compared to HKD 85,140,000 for the same period in 2024[67]. Property Development and Sales - The group sold over 1,480 residential units at the residential development project "Ocean Garden" in Tseung Kwan O, Hong Kong, accounting for approximately 95% of the total units, with sales revenue of about HKD 1.4 billion recognized during the review period[20]. - In mainland China, the total pre-sale/sales amount for the group's development projects was approximately RMB 671 million, with the group's attributable share being about RMB 518 million, and recognized sales revenue of approximately RMB 756 million during the review period[20]. - The property development segment generated HKD 1,419,027,000 in revenue from Hong Kong and HKD 600,249,000 from mainland China[61]. - The group plans to launch the sale of units in the "Banshan Minghui" project in Sai Ying Pun, which has a 60% ownership interest, with expectations of strong market response due to its prime location[25]. - The "Qingshuiwan Road" development project in Kowloon, with a construction area exceeding 2,000,000 square feet, is the group's most important development project currently, with completion expected in the first half of 2027[25]. - The "Jiangwan South Garden" Phase 3 residential development project in Huizhou has completed design modifications and will commence construction upon obtaining the necessary approvals[26]. - The "Shan Yu Hu" Phase 5 development project in Foshan has completed construction, while the "Tianjin City Square" Phase 3B project is ongoing and expected to be completed by the end of 2026[28]. - The "Yangpu" project in Shanghai, in which the group holds a 40% interest, has obtained preliminary construction permits and is preparing for foundation work[29]. Financial Position and Assets - As of June 30, 2025, the total bank loans of the group amounted to HKD 18.740 billion, a decrease from HKD 19.125 billion in 2024, with a net bank borrowing of HKD 17.783 billion after accounting for cash and bank balances of HKD 0.957 billion[33]. - The company’s total liabilities decreased from HKD 6,508,237,000 to HKD 4,756,551,000, a reduction of 26.9%[48]. - The company’s equity attributable to shareholders rose to HKD 17,537,434,000 from HKD 17,471,141,000, reflecting a growth of 0.4%[48]. - The company’s non-current assets totaled HKD 19,009,839,000 as of June 30, 2025, slightly down from HKD 19,393,998,000 at the end of 2024, reflecting a decrease of 2.0%[47]. - Current assets decreased to HKD 22,636,721,000 from HKD 23,314,398,000, marking a decline of 2.9%[47]. - The total value of bank loans secured by properties and shares of subsidiaries was HKD 2,668,605,000 as of June 30, 2025, unchanged from December 31, 2024[20a]. - The total inventory as of June 30, 2025, was HKD 20,508,918,000, a decrease from HKD 21,278,307,000 as of December 31, 2024[76]. - The company’s deferred tax assets were reported at HKD 129,013,000 as of June 30, 2025[65]. - The company has capital commitments of HKD 93,677,000 as of June 30, 2025, an increase from HKD 77,594,000 as of December 31, 2024[89]. Market Conditions and Outlook - The commercial property market in Hong Kong faced downward pressure on rental and sales prices due to high vacancy rates and weak demand[19]. - The Hong Kong interbank offered rate (HIBOR) significantly decreased by the end of June 2025, positively impacting residential sales and prices[19]. - The group expects that if the HIBOR remains low and the overall economy in Hong Kong grows healthily, it will encourage potential buyers and investors to enter the market, leading to improved transaction volumes and stable or rising prices[24]. - The group identified significant growth opportunities in property development and investment, focusing on expanding its market presence in Hong Kong and mainland China[58]. Financial Management and Strategy - The group has implemented a conservative dividend policy due to the challenging operating environment in the real estate sector[34]. - The group plans to strategically sell remaining units of Hain Manor and other projects to generate additional cash flow in the coming years[34]. - The group is closely monitoring interest rate fluctuations and considering hedging arrangements to manage financial risks[35]. - The group invested approximately HKD 0.657 billion in project development in Hong Kong and mainland China during the period[35]. - The group has established a joint venture to acquire multiple properties in Hong Kong, with plans for demolition in the near term[35]. Employee and Governance - As of June 30, 2025, the group employed 2,214 staff, a decrease from 2,476 staff as of December 31, 2024[105]. - Total employee costs reduced to HKD 316 million, down from HKD 329 million as of June 30, 2024[105]. - The group emphasizes competitive compensation levels and discretionary bonuses based on performance to attract and retain talent[105]. - The establishment of a recreational committee aimed at enhancing team spirit and communication among departments[106]. - The company complied with all provisions of the corporate governance code except for specific clauses related to the roles of the chairman and CEO[91]. Audit and Compliance - The independent auditor, KPMG, reviewed the interim financial report for the six months ending June 30, 2025, in accordance with Hong Kong standards[108].

九 龍 建 業 有 限 公 司 KOWLOON DEVELOPMENT COMPANY LIMITED (Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） (Stock Code 股份代號：34) 19 September 2025 Dear non-registered shareholder(s), New Arrangement of Electronic Dissemination of Corporate Communications Pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), the articles of association of Kowloon Development Company Limited (the "Company") and the Companies Ordinance (Chapter 622 ...