第 1 頁 共 2 頁 v 1.1.1 EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 保利置業集團有限公司 | | 股份代號 | 00119 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年12月31日止年度之末期股息 | | 公告日期 | 2026年3月31日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年12月31日 | | 宣派股息 | 每 股 0.026 HKD | | 股東批准日期 | 2026年6月17日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0. ...

Financial Performance - The group's revenue was RMB 48.38 billion, with a gross profit margin of 17.0%. The profit attributable to shareholders was RMB 225.22 million, and the basic earnings per share were RMB 5.89[4]. - The net profit for the year was RMB 633.89 million, a significant increase from RMB 95.81 million in the previous year[5]. - The total comprehensive income for the year amounted to RMB 428.73 million, compared to RMB 312.17 million in the previous year[5]. - The company achieved a profit before tax of RMB 2,909,414, with a net profit of RMB 633,885 after tax expenses of RMB 2,275,529[17]. - The company reported a net profit of RMB 95,814,000 for the year ended December 31, 2024, after tax expenses of RMB 2,145,823,000[19][21]. - The company reported a significant increase in sales from the Kunming Poly City project, contributing RMB 1.446 billion to the turnover[72]. Revenue Breakdown - Total revenue for the year ending December 31, 2025, is reported at RMB 48,381,678, with a breakdown of RMB 46,252,130 from property development and RMB 1,926,291 from property investment and management[17]. - The revenue from contracts recognized at a point in time amounted to RMB 46,278,903, while revenue recognized over time was RMB 1,642,452[17]. - The property investment and management segment generated revenue of RMB 1,926,291, contributing significantly to the overall performance[17]. - Total revenue for the year ended December 31, 2024, was RMB 40,208,482,000, with a breakdown of RMB 38,094,598,000 from property development and RMB 1,892,620,000 from property investment[19]. Sales and Contracts - The total contract sales amount for the year reached RMB 50.2 billion, with a sales area of 1.624 million square meters and an average sales price of approximately RMB 30,917 per square meter[3]. - The company achieved a total contract sales amount of RMB 50.2 billion, ranking 15th in the industry sales list, with a sales recovery rate of 102%[39]. - The average contract sales price increased by 21% year-on-year, reaching RMB 30,000 per square meter[39]. - The company completed new construction of approximately 1.622 million square meters and achieved contract sales of approximately 1.624 million square meters during the year[44]. Assets and Liabilities - Non-current assets totaled RMB 20.63 billion, while current assets amounted to RMB 161.17 billion[6]. - Current liabilities decreased to RMB 79.06 billion from RMB 99.64 billion in the previous year[7]. - Total assets as of December 31, 2025, amounted to RMB 181,799,859,000, with a significant increase from RMB 198,702,777,000 in 2024[18][20]. - Total liabilities as of December 31, 2025, were RMB 134,064,835,000, compared to RMB 152,155,467,000 in 2024, indicating a reduction in liabilities[18][20]. - The group's debt-to-asset ratio improved to 73.7% in 2025 from 76.6% in 2024[79]. Equity and Dividends - The total equity attributable to shareholders was RMB 33.72 billion, a slight decrease from RMB 34.21 billion in the previous year[7]. - The company plans to distribute a final dividend of HKD 0.026 per share for the year ended December 31, 2025, an increase from HKD 0.021 per share in 2024[28]. - The total equity attributable to shareholders as of December 31, 2025, was RMB 33.7 billion, with a net asset value per share of RMB 8.82[43]. - As of December 31, 2025, the total equity attributable to shareholders was RMB 33.719 billion, with a net asset value per share of RMB 8.82, down from RMB 34.209 billion and RMB 8.95 in 2024 respectively[79]. Financing and Costs - The net cash inflow from operations was RMB 3.56 billion, with total cash accounting for 17.1% of total assets. The average financing cost decreased to 2.86%[3]. - The company reported a financing cost of RMB 1,067,705, impacting the overall profitability[17]. - The financing cost for the year ended December 31, 2025, was RMB 1,067,705,000, down from RMB 1,583,371,000 in 2024[20]. - 42% of the group's borrowings are at fixed interest rates, while 58% are at floating rates, indicating a strategy to manage interest rate risk through hedging tools[81]. Project Development - The group added new project planning with a total construction area of 1.701 million square meters, with a total land cost of approximately RMB 27 billion[3]. - The company acquired 15 real estate development projects with a total land cost of approximately RMB 27 billion, focusing 84% of resources on Guangzhou, Shanghai, and Hangzhou[40]. - The company has 58 ongoing and planned projects with a total construction area of approximately 11.875 million square meters as of December 31, 2025[44]. - The planned total construction area for projects awaiting construction is 707.5 million square meters (equity area of 566.5 million square meters)[64]. Market Presence and Strategy - The company plans to enhance product quality, deepen service offerings, and actively embrace digital and green modernization elements[42]. - The company aims to build core competitiveness that can withstand market cycles and focus on high-quality development[42]. - The company plans to expand its market presence in first-tier and second-tier cities through ongoing investments in new projects[75]. Employment and Compensation - The group employed 6,442 staff as of December 31, 2025, with total compensation of approximately RMB 1.203 billion, a decrease from RMB 1.264 billion in 2024[85].

Investment Rating - The report rates the real estate industry as "Outperform" [1] Core Viewpoints - New home transaction area increased by 20.4% month-on-month but decreased by 20.4% year-on-year, with the year-on-year decline widening by 5.2 percentage points [7] - Second-hand home transaction area remained stable month-on-month, with a year-on-year decline narrowing [7] - New home inventory area increased both month-on-month and year-on-year, with the absorption cycle also rising [7] - The land market saw an increase in transaction volume but a decrease in price, with the average land price dropping by 24.3% month-on-month and 52.9% year-on-year [7] - Domestic bond issuance by real estate companies increased significantly, with a total issuance of 169.9 billion yuan, up 94.0% month-on-month and 317.8% year-on-year [7] Summary by Sections New Home Market Tracking - In the 13th week, 47 cities recorded new home transactions of 34,000 units, a month-on-month increase of 24.6% and a year-on-year decrease of 14.8% [17] - The new home transaction area was 376.4 million square meters, with a month-on-month increase of 20.4% and a year-on-year decrease of 20.4% [26] - Transaction growth rates for new homes in first, second, and third/fourth-tier cities were 5.7%, 22.7%, and 33.7% respectively month-on-month [19] Second-Hand Home Market Tracking - The second-hand home transaction area in 23 cities was 296.6 million square meters, with a month-on-month increase of 9.6% and a year-on-year decrease of 1.0% [7] - Transaction growth rates for second-hand homes in first, second, and third/fourth-tier cities were 49.7%, 51.2%, and 51.6% respectively month-on-month [21] Land Market Tracking - The total land transaction area in 100 cities was 1,618.8 million square meters, with a month-on-month increase of 39.1% and a year-on-year increase of 20.9% [25] - The total transaction price was 21.1 billion yuan, a month-on-month increase of 5.3% but a year-on-year decrease of 43.0% [25] Policy Overview - The Ministry of Housing and Urban-Rural Development released a draft guideline for "Good Housing," emphasizing safety, comfort, green features, and smart technology [4] Investment Recommendations - The report suggests focusing on three main lines: 1. Companies with stable fundamentals and high market share in core cities, such as China Resources Land and China Jinmao [7] 2. Smaller companies showing significant breakthroughs in sales and land acquisition, like Poly Real Estate Group [7] 3. Commercial real estate companies exploring new consumption scenarios, such as China Resources Vientiane Life and Swire Properties [7]

Investment Rating - The report rates the real estate industry as "Outperform" compared to the market [1]. Core Insights - New home sales have turned negative year-on-year, while the decline in second-hand home sales has narrowed. The minimum down payment ratio for commercial properties in Shanghai has been reduced to 30% [1]. - The inventory of new homes has increased both month-on-month and year-on-year, and the de-stocking cycle has also lengthened [1]. Summary by Sections New Home Market Tracking - In the 12th week, new home sales in 47 cities amounted to 312.6 million square meters, with a month-on-month increase of 0.6% but a year-on-year decrease of 15.2%. The year-on-year growth rate has decreased by 21.0 percentage points compared to the previous week [5]. - The sales volume in first, second, third, and fourth-tier cities showed varied month-on-month growth rates of -0.1%, 26.5%, -17.3%, respectively, with year-on-year growth rates of -17.7%, -8.6%, -20.3% [5][15]. Second-Hand Home Market Tracking - The second-hand home sales area in 23 cities reached 270.7 million square meters, with a month-on-month increase of 9.6% and a year-on-year decrease of 6.7%, which is a narrowing of the decline by 6.5 percentage points compared to the previous week [5]. - The sales volume in first, second, third, and fourth-tier cities showed month-on-month growth rates of 8.1%, 11.5%, 8.2%, respectively, with year-on-year growth rates of -2.5%, -12.4%, -0.2% [5][11]. Inventory and De-stocking Cycle - As of the end of the 12th week, the new home inventory in 13 cities was 79.95 million square meters, with a month-on-month growth rate of 0.1% and a year-on-year growth rate of 1.0%. The de-stocking cycle is 26.0 months, which is an increase of 0.2 months month-on-month and an increase of 6.5 months year-on-year [5][33]. - The de-stocking cycle for first, second, third, and fourth-tier cities is 21.3, 24.0, and 65.0 months, respectively [5][25]. Land Market Tracking - The total land transaction area in 100 cities was 11.639 million square meters, a month-on-month decrease of 16.1% but a year-on-year increase of 45.2%. The total transaction price was 20.04 billion yuan, a month-on-month decrease of 13.5% but a year-on-year increase of 59.7% [5][11]. - The average land price was 1,722 yuan per square meter, with a month-on-month increase of 3.1% and a year-on-year increase of 10.0% [5][11]. Policy Insights - Starting from March 16, Shanghai adjusted the minimum down payment ratio for commercial properties to 30%, following a national policy adjustment [5]. - The report suggests that there are multiple opportunities for phase returns in the real estate sector throughout 2026, with a focus on market sentiment, transaction performance, and policy developments [5]. Investment Recommendations - The report recommends focusing on three main lines: 1. Companies with stable fundamentals and high market share in first and second-tier cities, such as China Resources Land and China Merchants Shekou [5]. 2. Smaller companies that have made significant breakthroughs in sales and land acquisition, such as Poly Real Estate [5]. 3. Commercial real estate companies exploring new consumption scenarios, such as China Resources Vientiane Life and Swire Properties [5].

Investment Rating - The report rates the real estate industry as "Outperform" [1] Core Insights - New home transaction area increased by 33.2% week-on-week, while the year-on-year decline narrowed to 15.4%, a reduction of 14.5 percentage points compared to the previous week [5] - Second-hand home transaction area rose by 13.9% week-on-week, with a year-on-year decline of 25.1%, narrowing by 7.0 percentage points from the previous week [5] - New home inventory area decreased both month-on-month and year-on-year, while the absorption cycle increased month-on-month [5] - The land market saw a decline in both volume and price month-on-month, but an increase in volume year-on-year [5] - The total issuance of domestic bonds in the real estate sector decreased by 19.0% week-on-week but increased by 77.9% year-on-year [5] - The report suggests that the real estate sector may see opportunities for returns in 2026, with a focus on key cities and companies that have stable fundamentals [5] Summary by Sections 1. New Home Market Tracking - In the 11th week, the new home transaction area in 40 cities was 211.9 million square meters, with a week-on-week increase of 33.2% and a year-on-year decrease of 15.4% [16] - Transaction areas in first, second, and third-fourth tier cities showed respective week-on-week growth rates of 56.5%, 20.4%, and 41.6% [16] 2. Second-hand Home Market Tracking - The second-hand home transaction area in 18 cities was 174.4 million square meters, with a week-on-week increase of 13.9% and a year-on-year decrease of 25.1% [5] 3. Inventory Situation - The inventory of new homes in 12 cities was 11,223 million square meters, with a month-on-month decrease of 0.3% and a year-on-year decrease of 5.1% [44] - The absorption cycle for new home inventory was 23.1 months, increasing by 1.0 month month-on-month and 8.5 months year-on-year [44] 4. Land Market Tracking - The total land transaction area in 100 cities was 1,387.4 million square meters, with a month-on-month decrease of 7.9% and a year-on-year increase of 216.7% [12] - The average land price was 1,670 yuan per square meter, with a month-on-month decrease of 17.2% and a year-on-year decrease of 8.8% [12] 5. Bond Issuance - The total bond issuance in the real estate sector was 134.8 billion yuan, with a week-on-week decrease of 19.0% and a year-on-year increase of 77.9% [13]

Core Viewpoint - The real estate industry has officially entered a new development stage of "stabilization and quality upgrade" in 2025, with significant improvements in delivery capabilities and buyer confidence [1] Group 1: Industry Overview - The central government continues to deepen the real estate financing whitelist system, with over 7.5 million historically delayed housing units completed and the pilot of selling completed homes expanding [1] - The asset-liability structure of companies has substantially improved, with a stable delivery pattern characterized by quality upgrades and steady volume [1] - Leading real estate companies have stabilized their delivery scales, and the ability of distressed companies to fulfill commitments has significantly recovered [1] Group 2: Delivery Capability Assessment - The "2025 China Real Estate Enterprise Delivery Capability TOP 50" evaluates companies based on total delivery scale, timeliness, satisfaction, and completeness of delivery systems [13] - The top 50 companies have become the main force in ensuring delivery, with an increasing proportion of high-quality improvement projects [16] Group 3: Policy and Mechanisms - The central government has established a long-term policy mechanism for the real estate market, focusing on ensuring delivery, preventing risks, and stabilizing expectations [15] - Key measures include the normalization of the real estate financing whitelist, full-cycle supervision of pre-sale funds, and the expansion of the completed home sales pilot [15] Group 4: Delivery Quality and Experience - Delivery capability has evolved from merely "on-time delivery" to a comprehensive ability encompassing full-process systems, precision craftsmanship, and full-cycle services [19] - The delivery process now integrates design and operation, creating a complete loop that enhances the value from "building good homes" to "living well" [19] Group 5: Notable Delivery Projects - The top delivery projects of 2025 include high-end, light luxury, and quality works, showcasing the industry's focus on quality and customer experience [6][9][11] - Notable projects include "Poly Tianrui" in Guangzhou and "Beijing Yuefu," reflecting the industry's commitment to high standards [6][9]

Poly Property Group Co., Limited 保 利 置 業 集 團 有 限 公 司 (於香港註冊成立之有限公司) 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：00119） 補充公告 有關提供貸款 茲提述保利置業集團有限公司（「本公司」）於二零二六年三月九日刊發的 (i) 關於向附屬公司層面關連人士提供貸款的關連及主要交易的公告；及(ii)關於向 一位少數股東提供貸款的須予披露的交易的公告（統稱「該等公告」）。除另 有界定外，本公告所用詞彙與該等公告所界定者具有相同涵義。 本公司謹此提供補充資料，以解釋 (i) 向附屬公司層面關連人士提供貸款的關連 及主要交易在上市規則的涵義下毋須再次尋求股東批准的判斷基礎；及(ii)深圳 保卓、深圳保捷及深圳保玉（統稱「項目公司」）向股東提供貸款之原因的進 一步資料。本公告乃為提供該等額外資料及釐清事項而作出。 向附屬公司層面關連人士提供貸款的關連及主要交易在上市規則的涵義下毋須 ...

（於香港註冊成立之有限公司） （股份代號：00119） 董事會會議召開日期 保利置業集團有限公司（「本公司」，連同其附屬公司合稱「本集團」）董事會 （「董事會」）謹此宣佈將於二零二六年三月三十一日（星期二）在本公司註冊 辦事處舉行董事會會議，以審議及批准（其中包括）本集團截至二零二五年十二 月三十一日止年度業績，以及建議派發末期股息（如有）。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Poly Property Group Co., Limited 保 利 置 業 集 團 有 限 公 司 承董事會命 保利置業集團有限公司 主席 萬宇清 香港，二零二六年三月九日 於本公告日期，本公司執行董事為萬宇清先生及胡在新先生；本公司非執行董事為張毅先 生、耿躍華先生及鄧歡先生；及本公司獨立非執行董事為馮志堅先生、梁秀芬女士、黃家倫 先生及吳劍林先生。 1 ...

(於香港註冊成立之有限公司) （股份代號：00119） 關連及主要交易 關於向附屬公司層面關連人士提供貸款 向附屬公司層面關連人士提供貸款 茲提述由保利置業集團有限公司（「本公司」）於2022年8月15日、2023年2 月27日及2023年12月22日發出的關於向少數股東提供貸款之須予披露的交易 及主要交易的公告，於2024年1月16日發出的主要交易通函，以及於2025年3 月20日發出的上市規則第14A.60條下的關連交易公告（統稱「該等公告及通 函」）。 貸款協議11 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 Poly Property Group Co., Limited 保 利 置 業 集 團 有 限 公 司 貸款協議12 於2026年3月9日，本公司間接持有51%權益的一間附屬公司深圳保捷（作為貸 款人）、本公司間接全資附屬公司惠州保置（作為借款人）與深圳招商（作為 借款人）簽訂貸款協議12，據此，深圳保捷同意向惠州保置及深圳招商分別 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 Poly Property Group Co., Limited 保 利 置 業 集 團 有 限 公 司 (於香港註冊成立之有限公司) （股份代號：00119） 須予披露的交易 關於向一位少數股東提供貸款 向一位少數股東提供貸款 於2026年3月9日，本公司間接持有51%權益的一間附屬公司深圳保玉（作為貸 款人）、本公司間接全資附屬公司深圳保利（作為借款人）與深圳潤投（作為 借款人）簽訂貸款協議II，據此，深圳保玉同意向深圳保利及深圳潤投分別授予 人民幣5.1億元及人民幣4.9億元的貸款。 於2025年12月19日，深圳保玉（作為貸款人）已與深圳保利（作為借款人） 及深圳潤投（作為借款人）簽訂貸款協議I，據此，深圳保玉同意向深圳保利及 深圳潤投分別授予人民幣1.7799億元及人民幣1.7101億元的貸款。 深圳保玉向深圳保利及深圳潤投提供的貸款I及貸款II均與深圳保利及深圳潤投 於深圳保玉的股權成比例。 ...