12月12日晚间，越秀地产在港交所公告，2025年11月，公司实现合同销售（连同合营企业及联营公司项 目的合同销售）金额约为人民币51.15亿元，同比下降约49.0%，实现合同销售面积约为18.41万平方 米，同比下降约45.0%。2025年1月至11月，公司累计合同销售金额约为人民币972.18亿元，同比下降约 3.8%，累计合同销售面积约为250.49万平方米，同比下降约27.0%。累计合同销售金额约占2025年合同 销售目标人民币1205亿元的80.7%。2025年11月，公司没有新增土地储备。 ...

Core Viewpoint - Yuexiu Property (00123) reported a contract sales amount of approximately RMB 5.115 billion in November 2025, with a total contract sales area of about 184,100 square meters [1] Group 1: Sales Performance - From January to November 2025, the company achieved a cumulative contract sales amount of approximately RMB 97.218 billion, covering a total sales area of about 2.5049 million square meters [1] - The cumulative contract sales amount represents 80.7% of the company's contract sales target of RMB 120.5 billion for 2025 [1] Group 2: Land Reserves - In November 2025, the company did not acquire any new land reserves [1]

智通财经APP讯，越秀地产(00123)发布公告，2025年11月，公司实现合同销售(连同合营企业及联营公 司项目的合同销售)金额约为人民币51.15亿元，实现合同销售面积约为18.41万平方米。2025年1月至11 月，公司累计合同销售(连同合营企业及联营公司项目的合同销售)金额约为人民币972.18亿元，累计合 同销售面积约为250.49万平方米。累计合同销售金额约占2025年合同销售目标人民币1205亿元的 80.7%。2025年11月，公司没有新增土地储备。 ...

Core Viewpoint - Yuexiu Property (00123.HK) reported a significant decline in contract sales for November 2025, with a total amount of approximately RMB 5.115 billion, representing a year-on-year decrease of about 49.0% [1] Group 1: November Performance - The company achieved contract sales amounting to approximately RMB 5.115 billion in November 2025, down approximately 49.0% year-on-year [1] - The contract sales area for November 2025 was about 184,100 square meters, reflecting a year-on-year decrease of approximately 45.0% [1] Group 2: Year-to-Date Performance - From January to November 2025, the cumulative contract sales (including joint ventures and associates) amounted to approximately RMB 97.218 billion, a year-on-year decline of about 3.8% [1] - The cumulative contract sales area for the same period was approximately 2.5049 million square meters, down about 27.0% year-on-year [1] - The cumulative contract sales amount accounted for 80.7% of the company's contract sales target of RMB 120.5 billion for 2025 [1] Group 3: Land Acquisition - The company did not acquire any new land reserves in November 2025 [1]

截至二○二五年十一月三十日未經審計銷售資料 越秀地產股份有限公司（「本公司」）董事會（「董事會」）謹此公佈截至二○二五年十一月三十日 的未經審計銷售統計資料如下： 二○二五年十一月，本公司實現合同銷售（連同合營企業及聯營公司項目的合同銷售）金額約 為人民幣51.15億元，同比下降約49.0%，實現合同銷售面積約為18.41萬平方米，同比下降約 45.0%。 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之內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不就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之任何損失承擔任 何責任。 （在香港註冊成立的有限公司） （股份代號：00123） 公 告 承董事會命 越秀地產股份有限公司 余達峯 公司秘書 香港，二○二五年十二月十二日 於本公告刊發日期，董事會成員包括： 二○二五年一月至十一月，本公司累計合同銷售（連同合營企業及聯營公司項目的合同銷售） （「累計合同銷售」）金額約為人民幣972.18億元，同比下降約3.8%，累計合同銷售面積約為 250.49萬平方米，同比下降約27.0%。累計合同銷售金額約佔二○二五年合同銷售目標人民幣 ...

Investment Rating - The industry investment rating is "Buy" [2] Core Viewpoints - The Central Economic Work Conference emphasizes stabilizing the real estate market, focusing on risk resolution and encouraging the acquisition of existing properties for affordable housing [5][8] - The overall tone of the conference is the most positive of the year, indicating a responsive approach to the industry's downward trend [14] - The policy shift from "stimulating demand" to "digesting inventory and optimizing supply" reflects a strategic change in real estate policy [14] Summary by Sections Economic Work Conference Insights - The conference held on December 11, 2025, updated its stance on real estate, focusing on stabilizing the market and managing risks effectively [5][8] - Key measures include controlling new land supply, revitalizing existing land and commercial properties, and promoting the construction of quality housing [5][8] Policy Evolution - The shift in policy from "stimulating demand" to "controlling increment, reducing inventory, and optimizing supply" has been noted since April 2024 [14] - The emphasis on "risk prevention" suggests that 2026 may see intensified contradictions within the real estate sector [14] Company Valuation and Financial Analysis - The report includes a detailed valuation and financial analysis of key companies in the real estate sector, with several companies rated as "Buy" [6] - Notable companies include Vanke A, China Overseas Development, and Poly Developments, all showing potential for strong performance [6][17] Recommendations - The report recommends several A-share and H-share companies for investment, indicating a focus on both development and property management sectors [17]

本期债券分为2个品种，品种一(即"23穗建07"，240203)票面利率(计息年利率)为3.03%，每手本期债券 面值为1000元，派发利息为30.30元(含税);品种二(即"23穗建08"，240401)票面利率(计息年利率)为 3.25%，每手本期债券面值为1000元，派发利息为32.50元(含税)。 智通财经APP讯，越秀地产(00123)发布公告，广州市城市建设开发有限公司2023年面向专业投资者公开 发行公司债券(第四期)，将于2025年12月22日开始支付自2024年12月22日至2025年12月21日期间的利 息。 ...

越秀地产(00123)发布公告，广州市城市建设开发有限公司2023年面向专业投资者公开发行公司债券(第 四期)，将于2025年12月22日开始支付自2024年12月22日至2025年12月21日期间的利息。 本期债券分为2个品种，品种一(即"23穗建07"，240203)票面利率(计息年利率)为3.03%，每手本期债券 面值为1000元，派发利息为30.30元(含税);品种二(即"23穗建08"，240401)票面利率(计息年利率)为 3.25%，每手本期债券面值为1000元，派发利息为32.50元(含税)。 ...

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之內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不就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之任何損失承擔任 何責任。 （在香港註冊成立的有限公司） （股份代號：00123） 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 承董事會命 越秀地產股份有限公司 余達峯 公司秘書 香港，二○二五年十二月十二日 於本公告刊發日期，董事會成員包括： 執行董事： 林昭遠（董事長）、朱輝松、江國雄、賀玉平、陳靜及劉艷 非執行董事： 張貽兵及蘇俊杰 广州市城市建设开发有限公司 2023 年面向专业投资者公开发行公司债券（第四期） 2025 年付息公告 本公司全体董事或具有同等职责的人员保证本公告内容不 存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真 实性、准确性和完整性承担相应的法律责任。 重要内容提示： 广州市城市建设开发有限公司 2023 年面向专业投资者公开 发行公司债券（第四期）（以下简称"本期债券"），将于 2025 年 12 月 22 日开始支付自 2024 年 12 月 ...

Core Insights - The real estate industry is undergoing a profound self-reform, focusing on quality and resilience, particularly in the Greater Bay Area, which is seen as a vibrant economic hub [2] - A number of benchmark real estate companies are innovating across various dimensions, including product quality, technology integration, and comprehensive service systems, aiming to create safe, comfortable, green, and smart living experiences [2] Award Winners - **Poly Developments Guangdong Company**: Recognized for enhancing product and service quality, embodying the "Three Good Concepts" and "Good House Strategy," and establishing a resilient development ecosystem [4] - **Yuexiu Property**: Celebrated for its commitment to "achieving a better life" and its competitive advantage through a unique business model that integrates development, operation, and finance [7] - **New World China**: Acknowledged for its long-term commitment to the Greater Bay Area and its active participation in high-quality development and social responsibility [9][10] - **Greentown China (South China Region)**: Awarded for transitioning from "building houses" to "creating lifestyles," focusing on comprehensive service and living upgrades in the Bay Area [12][13] - **Zhujiang Real Estate**: Recognized for its innovative approach and contribution to urban development, particularly with its flagship projects in Guangzhou [14] High-Quality Delivery Companies - **Guangzhou Metro Real Estate**: Noted for applying high standards of quality management from metro construction to real estate development, establishing a reliable delivery benchmark in the Bay Area [17] - **Sun Hung Kai Properties**: Celebrated for its extensive experience in Transit-Oriented Development (TOD) and its role in creating iconic urban landmarks in the Greater Bay Area [19] - **Longfor Group**: Acknowledged for its extensive project development and commitment to quality, having delivered over 1 million housing units [22]