Core Viewpoint - The article discusses the launch of the public voting phase for the "Top Ten Works" in the 2025 semi-annual evaluation of Chinese real estate products, emphasizing the importance of product quality in the housing sector [2][10]. Group 1: Voting Process - The public voting for the top ten projects will take place from June 17 to June 23, with expert evaluations occurring on June 17-18 [2][11]. - Each participant can vote once per WeChat ID, selecting up to ten projects in each category [11]. - The final results will be based on the cumulative valid votes from all participants [11]. Group 2: Evaluation Framework - The evaluation process includes expert reviews, public voting, and assessment models, culminating in the announcement of the "Top Ten High-end/Luxury/Quality Works" and the "China Good House Comprehensive Award/Individual Award" by the end of June [12][13]. - The initiative is part of a broader strategy to enhance product quality in the real estate sector, addressing housing pain points and improving residential product standards [10]. Group 3: Featured Projects - Various projects have been highlighted, including: - Shanghai Poly Hongqiao, a modern high-rise residential project [16]. - Guangzhou's Zhaoshang Linyu Jing, a city-integrated forest-themed residence [17]. - Huazhong's Shimei Bay, focusing on nature and island vacation living [19]. - Xiamen Jianfa's Yuehai, offering ocean-view residential options [21]. - The projects represent a mix of modern architectural styles and aim to cater to high-end and luxury market segments [16][19][21].

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○二五年六月十八日 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 债券代码：185771 债券简称：22 穗建 01 广州市城市建设开发有限公司 关于"22 穗建 01"公司债券转售实施结果公告 本公司董事会及全体董事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个别及连带责任。 重要内容提示： 一、本期债券回售登记情况 1、债券代码：185771 2、债券简称：22 穗建 01 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 根据《广州市城市建设开发有限公司关于 ...

Summary of Yuexiu Property Conference Call Company Overview - **Company**: Yuexiu Property - **Industry**: Real Estate Key Points Sales Performance - In Q1 2025, sales decreased by 26% year-on-year, but the company remains confident in achieving the annual sales target of 120.5 billion yuan [2][4] - From January to May 2025, the company achieved sales of 50 billion yuan, a year-on-year increase of approximately 26% [4] Market Position - The company maintains a leading position in core cities such as Beijing, Guangzhou, and Shanghai, ranking first in Beijing and second in Guangzhou [4] - New projects like "Heyue Wangyun" have performed well, contributing to the company's strong market presence [2] Land Acquisition and Investment - In 2025, the company acquired ten new land parcels totaling 1.03 million square meters with an equity investment of 7.6 billion yuan, aiming for a total equity investment of 30 billion yuan for the year [2][5] - The company plans to adjust equity ratios in Guangzhou projects to optimize resource allocation [2][5] Financial Health - The company meets the "three red lines" criteria and has a cash reserve of 50 billion yuan, with a stable reduction in interest-bearing debt [2][6] - Financing costs are approximately 3.49%, with expectations for further reductions [6] Land Reserves - Total unsold land reserves are valued at approximately 360 billion yuan, with 40% located in the Greater Bay Area [3][15] - The company will continue to focus on opportunities in core cities like Beijing, Shanghai, and Hangzhou [3] Strategies for Idle Land - The company successfully stored 13.5 billion yuan in land in 2024 and plans to negotiate with local governments to activate idle land through land swaps or converting commercial land to residential use [7][10] Response to Market Changes - The company believes that the current housing sales policy will not significantly impact overall business and plans to respond proactively within the policy framework [8][9] New Project Launches - In June 2025, the company plans to launch key projects in core cities, including Guangzhou and Xi'an, with expectations for good performance despite stricter regulations on new residential products [11][12][13] Profitability and Financial Metrics - The current dynamic gross profit margin is approximately 15%, with expectations for a gross margin of no less than 10% in 2025 [22][29] - The company has set internal return on investment (IRR) and net profit margin targets to ensure profitability on new projects [19][20] Future Investment Strategy - The company employs a "6+1" investment strategy, focusing on non-public land acquisition methods to mitigate risks associated with high bidding prices in core cities [17] Urban Renewal and Policy Support - Urban renewal progress in Guangzhou has been slower than expected, but recent national policies may provide support for future developments [34] Dividend Policy - The company has maintained a consistent dividend payout ratio of 40% of core net profit over the past nine years, with no expected changes [31] Overall Market Outlook - The company anticipates stable revenue for 2025, with a focus on managing inventory and reducing potential impairment losses [32][34]

Core Viewpoint - The public voting phase for the "Top Ten Works" in the 2025 semi-annual China real estate product evaluation has commenced, allowing the public to select their preferred high-end, light luxury, and quality residential projects [1][2][10]. Group 1: Voting Process and Rules - The public voting period runs from June 17 to June 23, with expert evaluations taking place on June 17-18 [2][11]. - Each WeChat ID is limited to one vote, and individuals can select up to ten projects in each category [11]. - The final vote count will be the cumulative total of all valid votes cast by participants [11]. Group 2: Evaluation and Categories - The 2025 product strength evaluation includes the "Top Ten Works" and the newly added "China Good House" assessment, with projects entering professional review and public voting stages [12]. - The selected projects will undergo expert evaluation, public voting, and assessment modeling, with results to be published at the end of June [13]. Group 3: Industry Trends - Since 2018, the industry has seen a continuous effort in product strength development, addressing living pain points and enhancing residential product quality [10].

Group 1: Market Overview - In June, real estate companies are focusing on performance improvement as they approach mid-year targets, with marketing activities concentrated around key dates like "6·18" and "6·30" [1] - The overall performance of the real estate market in May showed significant differentiation, with some companies planning to increase their marketing efforts in June to boost sales [1] Group 2: Shenzhen Market - In Shenzhen, the new housing market saw a decline in May, with a 14.4% decrease in transactions, but an increase in new launches is expected in June, with 10 new residential projects anticipated [2][3] - Notable projects include those developed by China Overseas Land & Investment and China Merchants Shekou, with sales performance showing promising results for newly launched properties [3] Group 3: Guangzhou Market - Guangzhou's real estate market experienced a 41% month-on-month increase in new home transactions in May, attributed to the launch of improvement-type properties in central areas [5][6] - Eight new projects are set to launch in June, with a focus on high-efficiency housing products that meet the new regulations [5] Group 4: Hangzhou Market - In Hangzhou, the new housing market faced a decline in transactions in May, but June is expected to see a surge in new launches, with 29 projects planned [7][8] - Key projects include those by China Merchants Shekou and other local developers, with a focus on larger unit sizes [7] Group 5: Nanjing Market - Nanjing's real estate market saw a decline in both transaction volume and prices in May, but June is expected to bring 14 new launches, with a focus on high-end projects [9][10] - Companies are employing discount strategies to boost sales, with some projects seeing significant price reductions to increase transaction volumes [9][10]

Core Viewpoint - The article discusses the significant personnel changes within state-owned enterprises (SOEs) in Guangzhou, highlighting the shift towards a more proactive economic role and the emphasis on collaboration and innovation in the face of economic challenges [1][2]. Group 1: Personnel Changes - In 2024, 13 out of 26 SOEs directly supervised by the Guangzhou State-owned Assets Supervision and Administration Commission (SASAC) have experienced changes in leadership, marking a notable increase compared to previous years [1][3]. - New leaders appointed in 2024 include individuals with extensive experience in relevant sectors, such as Chen Qiang, who has nearly 20 years of experience in urban construction and project development [4][5]. - Many new leaders have a background in both government and enterprise roles, which is seen as beneficial for navigating the complexities of SOE management [6]. Group 2: Economic Strategy and Initiatives - The Guangzhou government has called for SOEs to take a leading role in economic recovery, emphasizing the need for stronger accountability and action [1][2]. - New strategies focus on cross-industry collaboration, investment empowerment, and structural optimization to enhance economic performance [9]. - For instance, Guangzhou Light Industry Group plans to strengthen its textile and apparel business by acquiring stakes in well-known brands, aiming for significant growth by 2025 [9][10]. Group 3: Specific Initiatives by New Leaders - Li Ming, the new chairman of Guangzhou Water Investment Group, emphasizes expanding effective investment and enhancing operational efficiency through a comprehensive understanding of the water sector [10][11]. - Chen Qiang of Yuexiu Group aims to navigate challenges while maintaining the company's status as one of the largest SOEs in Guangzhou, with total assets exceeding 1 trillion yuan [11][12]. - Collaborative efforts are being initiated among various SOEs, such as the strategic partnership between Guangzhou Pharmaceutical Group and Guangzhou Public Transport Group, focusing on logistics and cultural integration [12].

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○二五年六月十六日 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：185916 债券简称：22 穗建 05 广州市城市建设开发有限公司 关于"22穗建05"公司债券赎回结果及2025年提前摘 牌公告 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 2022 年面向专业投资者公开发行公司债券(第 三期)(品种一)（ ...

Group 1 - The company, Yuexiu Property (00123.HK), announced a financing agreement with a bank for a sustainable development-linked term loan of HKD 1.56 billion (or equivalent in RMB) [1] - The loan has a term of 3 years starting from the date of the first drawdown, contingent upon meeting the relevant terms of the financing agreement [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） 公司秘書 香港，二○二五年六月十二日 本公告乃由越秀地產股份有限公司（「本公司」）董事會根據香港聯合交易所有限公司證券上市 規則（「上市規則」）第13.18條之披露規定而作出。 於二○二五年六月十二日，本公司（作為借款人）與一家銀行（「貸款人」）訂立一份融資協議 （「融資協議」），據此，貸款人提供1,560,000,000港元（或等值之人民幣）之可持續發展掛鈎定 期貸款。在滿足融資協議訂立的相關條款前提下，貸款期為由首次提款日期起計3年。 融資協議規定，倘本公司之控股股東越秀企業（集團）有限公司（「越秀企業」）於本公司已發行 之具投票權股份中持有少於30%之直接或間接權益，或倘越秀企業不再是本公司單一最大實 益股東的地位，或倘越秀企業不再對本公司行使有效之管理控制權，即構成違約事件。若發生 有關違約事件，則貸款人可宣佈融資協議項下所有債項將立即到期 ...

Core Viewpoint - The "2025 Mid-Year China Real Estate Product Evaluation" has officially entered the project display phase, with the preliminary selected projects announced on June 3, 2025. The evaluation will combine expert reviews and online voting to determine the final winners [1][9]. Group 1: High-End Projects - The high-end project "Wuhan New Hope · D10 Black Pearl" is highlighted as a top luxury offering, featuring a prime riverside location [1]. - The evaluation includes various categories such as "National Top Ten High-End/Light Luxury/Quality Works" and "National Good House Comprehensive Award" [1]. Group 2: Light Luxury Projects - "Chongqing Changjia Waterfront | Guorui · Changjiang Fu" is recognized as a fourth-generation residential project located in the core area of Chongqing's Liangjiang Four Banks [3]. - "Guangzhou Yuexiu · Longyue Xiguan" is noted as the first project of the Guangfu series, emphasizing a revival of the Xiguan style [3][4]. Group 3: Quality Projects - "Changsha招商揽阅" is presented as a model for ideal living in the era of residential scenarios in Changsha [6]. - "Xi'an Greentown Xihaitang" is characterized as a low-density ecological community in the high-tech core area [7]. Group 4: Evaluation Process and Timeline - The evaluation work has been ongoing since mid-April, with the final results for the top ten works and the "China Good House" awards expected to be announced by the end of June [1][11]. - The "Kerry Research Product Power 100 Working Group" has been focusing on the evolution of industry product strength since 2018, aiming to promote valuable and replicable products and concepts within the industry [9][11].