Core Viewpoint - Yuexiu Property (00123) has announced a financing agreement with a bank to secure a term loan of HKD 600 million, with a loan term of 12 months starting from the first drawdown date [1] Group 1 - The financing agreement is set to be executed on November 6, 2025 [1] - The loan amount is specified as HKD 600 million [1] - The loan term is defined as 12 months from the date of the first drawdown [1]

Core Viewpoint - Yuexiu Property (00123.HK) has entered into a financing agreement with a bank to secure a term loan of HKD 600 million, with a loan term of 12 months starting from the first drawdown date [1] Group 1 - The financing agreement was established on November 6, 2025, with the company acting as the borrower [1] - The loan amount is set at HKD 600 million [1] - The loan term is specified to be 12 months from the date of the first drawdown [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） 於本公告刊發日期，董事會成員包括： 於二○二五年十一月六日，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，貸款人在融資協議的條款及條件之規限下提供 600,000,000港元之定期 貸款融資，貸款期由首次提款日期起計12個月。 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已立即到期應付。截至本公告日期，越 秀企業實益擁有本公司已發行股份合共約44%。 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○二五年十一月六日 公 告 本公告乃根據上市 ...

Group 1 - The company plans to publicly issue 46,493,334 shares, accounting for 25% of the total share capital after the issuance [1] - Senior management and core employees will participate in a strategic placement plan, intending to subscribe for 10% of the public offering, which amounts to 4,649,334 shares, with a subscription amount not exceeding 166.45 million yuan [1] - The initial inquiry date for the issuance is set for November 11, 2025, with the subscription date on November 14, 2025, aiming for a listing on the Shenzhen Stock Exchange [1] Group 2 - The company's main business includes the research, production, and sales of giant all-steel radial tires for engineering machinery, as well as the operation management of mining tires [1] - The company has developed the production technology and mass production capability for a full range of all-steel giant tires (rim diameter of 49 inches and above) since its establishment in 2005, serving hundreds of mines domestically and internationally [1] - The net profits attributable to the parent company for the years 2022 to the first half of 2025 are 354 million yuan, 654 million yuan, 679 million yuan, and 341 million yuan respectively [2] Group 3 - The sales revenue for the company's 63-inch all-steel giant tire products during the same period were 67.86 million yuan, 101.50 million yuan, 85.08 million yuan, and 55.52 million yuan respectively [2] - As of the end of the reporting period, the total amount of orders for the 63-inch all-steel giant tires within one year was 43.67 million yuan [2] - The funds raised from the share issuance, after deducting relevant issuance costs, will be used for projects related to the company's main business, including expansion of all-steel giant engineering radial tire production and automation upgrades, research center construction, and working capital supplementation, totaling approximately 2.852 billion yuan [2]

Investment Rating - The investment rating for the real estate industry is "Positive" (maintained) [3] Core Views - The real estate sector is a crucial asset allocation and investment direction for Chinese households, with stable housing prices being significant for facilitating economic circulation. The 20th Central Committee's Fourth Plenary Session emphasized promoting high-quality development in real estate, indicating potential policy support [4][48] - There is an anticipated wave of development for high-quality housing due to policy guidance and changes in supply-demand structure, with a focus on core cities and strong land acquisition capabilities [4][48] Market Performance - The Shanghai Composite Index rose by 0.1%, the Shenzhen Component Index rose by 0.7%, and the ChiNext Index rose by 0.5%. The real estate sector (Shenwan) fell by 0.7% during the week [4][7] - In the new housing market, 42 key cities recorded a total transaction of 2.43 million square meters, a week-on-week increase of 4.8%, but a year-on-year decrease of 41.1% [14][18] - For the month of October, new housing transactions in 42 key cities totaled 8.43 million square meters, a year-on-year decrease of 34.6% [18][19] Data Tracking New Housing Transactions - In the week of October 25-31, new housing transactions in 42 key cities totaled 2.43 million square meters, with a year-on-year decrease of 41.1% [14] - For October, new housing transactions totaled 8.43 million square meters, a year-on-year decrease of 34.6% [18] Second-Hand Housing Transactions - In the week of October 25-31, second-hand housing transactions in 21 key cities totaled 2.05 million square meters, a year-on-year decrease of 23.6% [30] - For October, second-hand housing transactions totaled 7.32 million square meters, a year-on-year decrease of 21.2% [33] Industry News - The Ministry of Housing and Urban-Rural Development is promoting a system of selling existing homes to mitigate delivery risks. Additionally, five departments issued a plan to support qualified commercial real estate projects in issuing Real Estate Investment Trusts (REITs) [45] - Guangzhou has released guidelines for constructing quality housing, emphasizing green construction and energy-efficient appliances [45] - Policy adjustments in housing provident funds have been made, including increasing the maximum ratio of monthly repayments to family income from 55% to 60% in Hainan [45] Company Announcements - In Q3 2025, several companies reported their net profits, with notable figures including China Vanke at -16.07 billion yuan (a year-on-year decrease of 98.6%) and China Merchants Shekou at 1.05 billion yuan (a year-on-year decrease of 11.4%) [48][50] - Financing activities include a loan agreement where Shenzhen Metro Group will provide up to 22 billion yuan to China Vanke [48][50]

Core Insights - Yuexiu Property achieved a contract sales amount of approximately RMB 12.29 billion in October 2025, representing a year-on-year decrease of about 8.0% [1] - For the period from January to October 2025, the cumulative contract sales amount reached approximately RMB 92.102 billion, a year-on-year increase of about 1.2%, while the cumulative contract sales area decreased by approximately 25.1% [1] - The cumulative contract sales amount accounted for 76.4% of the company's contract sales target of RMB 120.5 billion for 2025 [1] Land Acquisition Summary - In October 2025, Yuexiu Property acquired five new land parcels, including three residential plots in Guangzhou with a total buildable area of approximately 167,800 square meters and total land costs of RMB 33.27 billion [2] - Additionally, a residential and cultural land parcel in Shanghai was acquired with a buildable area of approximately 153,900 square meters at a land cost of RMB 14.7 billion [2] - A residential land parcel in Chengdu was also acquired, with a buildable area of approximately 115,200 square meters and a land cost of RMB 12.55 billion [2]

Group 1: Housing and Real Estate Developments - Xi'an has initiated the registration and allocation process for 1,149 units of affordable rental housing, as per the guidelines from the local government [1] - China State Construction and Hubei Lian Investment acquired the DX04-0102-6038 land plot in Xihongmen, Beijing, for a base price of 1.904 billion yuan, covering approximately 27,600 square meters with a planned building area of about 63,500 square meters [2] - Yuexiu Property reported a contract sales amount of approximately 12.29 billion yuan in October, reflecting a year-on-year decrease of about 8%, with a sales area of approximately 272,400 square meters, down 42% year-on-year [3] - Agile Group disclosed a total pre-sale amount of approximately 710 million yuan in October, corresponding to a building area of 83,000 square meters, with an average price of about 8,517 yuan per square meter [4] Group 2: Property Management Sector - According to a report from the China Index Academy, the top 50 property service companies added approximately 60.83 million square meters of new contract area in October, indicating continued expansion among leading firms [5] - The average new contract area for these top companies was 1.22 million square meters, with notable growth from companies like China Resources Vientiane Life and Henan Jianye New Life Service, each exceeding 3.9 million square meters in new contracts [5]

Group 1: Housing and Real Estate Developments - Xi'an has initiated the registration and allocation process for 1,149 units of affordable rental housing, as per various government documents aimed at accelerating the development of such housing [1] - China State Construction and Hubei Lian Investment acquired the DX04-0102-6038 land parcel in Xihongmen, Beijing, for a base price of 1.904 billion yuan, covering approximately 27,600 square meters with a planned construction area of about 63,500 square meters and a floor area ratio of 2.3 [2] - Yuexiu Property reported a contract sales amount of approximately 12.29 billion yuan in October, reflecting a year-on-year decline of about 8%, with a sales area of approximately 272,400 square meters, down about 42% year-on-year [3] - Agile Group disclosed a total pre-sale amount of approximately 710 million yuan in October, corresponding to a construction area of 83,000 square meters, with an average price of about 8,517 yuan per square meter [4] Group 2: Property Services Sector - According to a report by the China Index Academy, the top 50 property service companies added approximately 60.83 million square meters of new contract area in October, indicating continued expansion among leading firms, with an average new contract area of 1.22 million square meters [5]

Core Viewpoint - Yuexiu Property disclosed its October unaudited sales report, indicating a decline in both contract sales amount and area sold compared to the previous year [1] Sales Performance - In October, Yuexiu Property achieved a contract sales amount of approximately 12.29 billion yuan, representing a year-on-year decrease of about 8% [1] - The contract sales area for the month was approximately 272,400 square meters, which reflects a year-on-year decline of about 42% [1]

Core Insights - Yuexiu Property released its unaudited sales data for the period ending October 31, 2025, indicating a decline in sales figures for October compared to the previous year [1] Sales Performance - In October, the company achieved a contract sales amount of approximately RMB 12.29 billion, representing a year-on-year decrease of about 8.0% [1] - The contract sales area for October was approximately 272,400 square meters, showing a significant year-on-year decline of about 42.0% [1] Year-to-Date Performance - For the period from January to October, the cumulative contract sales amount reached approximately RMB 92.10 billion, reflecting a year-on-year increase of about 1.2% [1] - The cumulative contract sales area for the same period was approximately 2.32 million square meters, which represents a year-on-year decrease of about 25.1% [1] - The cumulative contract sales amount accounted for 76.4% of the company's contract sales target of RMB 120.5 billion for 2025 [1]