Core Viewpoint - Yuexiu Property's 2025 interim performance report shows significant revenue growth and stable profit distribution, indicating a strong market position and effective strategy in high-demand urban areas [1][2] Group 1: Financial Performance - Total revenue for the first half of 2025 reached 47.57 billion RMB, a year-on-year increase of 34.6%, marking seven consecutive years of revenue growth [1] - Core net profit and net profit attributable to shareholders were 1.52 billion RMB and 1.37 billion RMB, respectively [1] - The company maintained a stable dividend payout ratio for 14 consecutive years, with a mid-year payout ratio of 40% and a dividend of 0.151 RMB per share [1] Group 2: Sales Performance - Contract sales for the first half of 2025 amounted to 61.5 billion RMB, representing an 11% year-on-year growth, positioning the company as one of the few in the top 10 real estate firms with positive growth [1] - The company ranked 8th in industry sales, with over 80% of sales coming from first-tier cities, which are key drivers of revenue growth [1] - Notable sales included 15.2 billion RMB from projects in Beijing and 2.3 billion RMB from a project in Shanghai, with high sales rates in Guangzhou [1] Group 3: Strategic Focus - The company's long-term strategy of focusing on high-capacity cities is yielding results, with strong purchasing power and stable demand in core urban areas [2] - High-quality projects that combine good products and locations are meeting market demands, optimizing revenue structure, and supporting high-quality growth [2] - In addition to core real estate, the company is expanding its commercial, service, and healthcare sectors, contributing to stable revenue growth [2]

8月26日，越秀地产发布2025年中期业绩报告。报告期内，越秀地产实现475.7亿元营收，比去年同期增 长34.6%；归母净利润录得13.7亿元，同比下降25.2%；同时连续14年保持稳定派息率，2025年中期派息 率为40%，中期每股派0.151元。销售方面，越秀地产上半年实现合同销售额615亿元，同比增长11%， 完成全年销售目标1205亿元的51%。 ...

北京商报讯（记者 王寅浩 李晗）8月26日，越秀地产发布2025年半年度业绩报告。报告显示，1—6月越 秀地产实现营业收入约475.7亿元，同比上升34.6%；权益持有人应占盈利13.7亿元；核心净利润15.2亿 元；经营业务所得的现金净额41.02亿元。 ...

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○二五年八月二十六日 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 獨立非執行董事： 余立發、李家麟、劉漢銓及張建生 债券代码：137826 债券简称：22 穗建 09 广州市城市建设开发有限公司 关于行使"22穗建09"公司债券发行人赎回选择权暨 放弃行使"22穗建09"公司债券发行人调整票面利率 选择权的公告 1、发行人有权在本期债券存续期间的第___3___年末调整本期债券后续计息 期间的票面利率。 2、发行人决定行使票面利率调整选择权的，自票面利率调整生效日起，本 期债券的票面利率按照以下方式确定：调整后的票 ...

在当前房地产市场城市分化日益显著的背景下，一二线城市以其突出的经济韧性、持续的人口集聚效应 和稳定的住房需求，正成为房企新一轮竞争的战略要地。 8月26日，越秀地产(00123.hk)发布了2025年中期业绩。报告数据显示，截至2025年6月30日，越秀地产 总土地储备达【2,043】万平方米，一二线核心城市占比达【94】%，其中半壁江山位于一线城市，上 海、北京资源占比逐年提升。 越秀地产全国核心城市战略深耕成效显著，2025年上半年在广州、北京、上海、杭州等核心城市获取多 幅高质量土储，新增土储面积约【148】万平方米，全部位于一二线核心城市，其中【68】%位于一线 城市。此外，越秀地产2025年上半年权益投资总额达【109.6】亿元，其中【92】%的资金精准投向北 京、上海、广州、杭州等一二线核心城市优质地块。 8月25日授予越秀地产"BBB-"投资级评级的国际评级机构标普在其报告中指出，越秀在高能级城市的土 地储备支撑了其在行业低迷期的销售，精准投资有效落地，驱动业绩增长。2025年上半年，越秀地产销 售业绩实现合同销售额达615亿元，同比增长11%；一线城市销售占比高达【80.5】%，销售排名稳居行 ...

Core Viewpoint - Yuexiu Property's 2025 interim performance report shows significant revenue growth and stable profit distribution, indicating a strong market position and effective strategy in high-capacity cities [1][2] Group 1: Financial Performance - Total revenue for the first half of 2025 reached 47.57 billion RMB, a year-on-year increase of 34.6%, marking seven consecutive years of revenue growth [1] - Core net profit and net profit attributable to shareholders were 1.52 billion RMB and 1.37 billion RMB, respectively [1] - The company maintained a stable dividend payout ratio for 14 years, with a mid-year payout ratio of 40% and a dividend of 0.151 RMB per share [1] Group 2: Sales Performance - Contract sales for the first half of 2025 amounted to 61.5 billion RMB, representing an 11% year-on-year growth, positioning the company as one of the only three firms in the top 10 with positive growth [1] - The company ranked 8th in industry sales, with over 80% of sales coming from first-tier cities, which are key drivers of revenue growth [1] - Notable sales included 15.2 billion RMB from projects in Beijing and 2.3 billion RMB from a project in Shanghai, with high sales rates in Guangzhou [1] Group 3: Strategic Focus - The company's long-term strategy of focusing on high-capacity cities is yielding results, with strong purchasing power and stable demand in core markets [2] - High-quality projects that align with market demand have optimized revenue structure and supported high-quality growth [2] - In addition to core real estate, commercial, service, and healthcare sectors are contributing to revenue stability, with property management revenue at 966 million RMB and service revenue at 1.962 billion RMB [2]

EF001 免責聲明 EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 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、江国雄、賀玉平、陳靜及劉艷 非執行董事: 張貽兵及蘇俊杰 獨立非執行董事: 余立發、李家麟、劉漢銓及張建生 第 2 頁 共 2 頁 v 1.1.1 | 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 | 越秀地產股份有限公司 | | 股份代號 | 00123 | | 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6月30日止半年度之中期股息 | | 公告日期 | 2025年8月26日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（ ...

Financial Performance - Revenue for the period was approximately RMB 47.57 billion, an increase of 34.6% year-on-year[3] - Gross margin was approximately 10.6%, a decrease of 3.1 percentage points year-on-year[3] - Profit attributable to equity holders was approximately RMB 1.37 billion, a decrease of 25.2% year-on-year[3] - Core net profit was approximately RMB 1.52 billion, a decrease of 12.7% year-on-year[3] - Total revenue for the six months ended June 30, 2025, was RMB 51,269,904 thousand, representing an increase from RMB 37,879,083 thousand for the same period in 2024, reflecting a growth of approximately 35.4%[25][30] - Revenue from real estate development reached RMB 44,027,345 thousand for the six months ended June 30, 2025, compared to RMB 32,796,336 thousand in the prior year, marking a significant increase of about 34.3%[25][30] - The group reported a total segment profit of RMB 3,090,514 thousand for the six months ended June 30, 2025, slightly down from RMB 3,103,540 thousand in the same period of 2024, indicating a decrease of approximately 0.4%[28] - The company reported a pre-tax profit of RMB 4,154,197 thousand for the six months ended June 30, 2025, compared to RMB 3,823,741 thousand in the same period of 2024, indicating an increase of approximately 8.7%[28] Sales and Contracted Sales - Cumulative contracted sales amounted to approximately RMB 61.50 billion, an increase of 11.0% year-on-year, achieving 51.0% of the annual target of RMB 120.5 billion[3] - The cumulative contracted sales area for the first half of 2025 was approximately 1.46 million square meters, a decrease of 22.2% year-on-year, with an average price of RMB 42,100 per square meter, up 42.7% year-on-year[86] - The company recorded contract sales of approximately RMB 61.5 billion, a year-on-year increase of 11.0%, completing 51.0% of the annual contract sales target of RMB 120.5 billion[68] Cash Flow and Liquidity - Cash and bank balances totaled approximately RMB 44.64 billion, with a net cash inflow from operating activities during the period[4] - Net cash generated from operating activities was RMB 4,101,710 thousand for the six months ended June 30, 2025, down from RMB 6,130,253 thousand in the same period of 2024, a decrease of about 33%[15] - The company reported a net cash outflow from financing activities of RMB 9,331,341 thousand for the six months ended June 30, 2025, compared to RMB 4,147,345 thousand in the same period of 2024, indicating a significant increase in cash used[17] - The company’s cash and bank balances decreased to RMB 42,253,342 thousand from RMB 45,950,323 thousand, reflecting a decline of about 8%[17] - The group’s operating cash income and committed bank financing were the main sources of liquidity, with a current ratio of 1.6 times as of June 30, 2025[106] Debt and Financing - The company maintained a "green" status under the "three red lines" policy, with a debt-to-asset ratio of 64.6% and a net gearing ratio of 53.2%[4] - The weighted average borrowing rate was 3.16%, a decrease of 41 basis points year-on-year[4] - Total liabilities decreased from RMB 306,373,816 thousand as of December 31, 2024, to RMB 272,437,763 thousand, indicating a reduction of approximately 11%[13] - The total liabilities to equity ratio improved from 2.94 as of December 31, 2024, to 2.45 as of June 30, 2025, indicating a stronger equity position relative to liabilities[13] - The group completed new financing of approximately RMB 23.43 billion in the first half of 2025, with domestic financing of RMB 19.85 billion and overseas financing of RMB 3.58 billion[104] Investment and Land Acquisition - The company acquired 13 new land parcels in six cities, with a total construction area of approximately 1.48 million square meters, all located in first- and second-tier cities[3] - As of June 30, 2025, the company held total land reserves of approximately 20.43 million square meters, with 94% located in first- and second-tier cities[70] - The total land reserve as of June 30, 2025, was approximately 20.43 million square meters, with the Greater Bay Area, East China, Central and Western regions, Northern regions, and Haikou accounting for approximately 39.2%, 18.8%, 25.7%, 15.8%, and 0.5% of the total building area respectively[92] Operational Efficiency - The company aims to enhance operational capabilities and deepen organizational transformation to improve efficiency and reduce costs[78] - The company will continue to implement precise marketing strategies and pricing strategies to adapt to market changes and ensure the achievement of annual sales and cash collection targets[78] - The company launched four product series standard guidelines to enhance product standardization and brand building[73] Market Outlook - The overall real estate market in China showed signs of structural recovery, with a 3.5% decrease in sales area and a 5.5% decrease in sales value year-on-year, indicating a narrowing decline compared to the same period in 2024[65] - The company anticipates continued economic support measures from the central government to stabilize financial markets and promote economic growth amid challenges such as the real estate market and fluctuating RMB exchange rates[114] Corporate Governance and Compliance - The company has complied with the Corporate Governance Code during the six months ending June 30, 2025[117] - The company did not repurchase, sell, or redeem any of its listed securities during the six months ending June 30, 2025[119]

Core Viewpoint - The Hong Kong property stocks experienced a collective decline after a brief rise, indicating market skepticism about the sustainability of recent policy changes aimed at boosting the real estate sector [1] Group 1: Market Performance - Major property stocks such as Shimao Group, New World Development, and Greentown China saw significant declines, with Shimao Group dropping by 6.4% and New World Development by 4.55% [1] - Other companies like China Jinmao, Midea Real Estate, and Country Garden also faced losses, with declines exceeding 2% [1] Group 2: Policy Impact - The recent policy adjustment in Shanghai, known as "Six Measures," allows unlimited purchases for eligible buyers outside the outer ring and treats single buyers as families, which initially boosted market confidence [1] - Despite the short-term positive impact, there are ongoing doubts about the long-term effectiveness of these policies and the actual improvement in the market fundamentals [1] Group 3: Future Outlook - The market requires continuous support beyond initial policy changes, with a focus on whether more cities will follow suit and how existing policies will be implemented, particularly regarding credit support [1]

Group 1 - The core viewpoint of the news is the launch of a long-awaited pure villa project in Guangzhou's core urban area, named Jinmao Yuexiu | Puyue Villa, developed by China Jinmao and Yuexiu Property [1][5] - The project is located in the World Grand View area, which has seen significant developments including the establishment of educational institutions and various themed parks [7] - The project features high-end residential styles from both Jinmao and Yuexiu, designed by renowned international design firms [5] Group 2 - In April, Jinmao acquired the World Grand View Phase IV land parcel for 1.077 billion yuan, with a low plot ratio of 1.1, suggesting a focus on villa-type products [3] - The newly unveiled villa project offers 110 units with a building area ranging from 190 to 360 square meters, starting at a total price of 20 million yuan [7] - The previous Yuexiu project in the same area had a signed average price of 78,000 yuan per square meter in 2024, projected to rise to 87,000 yuan per square meter in 2025, indicating a strong market demand [7]