本公告乃根據上市規則第13.18條之規定而作出。 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 本公告乃越秀地產股份有限公司（「本公司」）的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條之披露規定作出。 於二○二四年十一月十一日，泓景有限公司（「泓景」）（作為借款人）與一家銀行（作為「貸款 人」）訂立了兩份融資協議（「首份融資協議」及「第二份融資協議」，統稱為「該等融資協議」）。 首份融資協議乃有關最高達五億港元之循環貸款融資，貸款期由第一份融資協議日期起計 364 天。第二份融資協議乃有關三十億港元之定期貸款融資，貸款期由第二份融資協議日期起計 3 年。該等融資協議須受其條款及條件所規限。 該等融資協議規定，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 ...

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） 余達峯 公司秘書 香港，二○二四年十一月七日 （股份代號：00123） 公 告 本公告乃根據上市規則第13.18條之規定而作出。 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○二四年十一月七日，泓景有限公司（「泓景」）（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 500,000,000港元之循環貸款融資，貸款期由融資協議日期起計 3年。泓景為本公司全資附屬 公司，其於融資協議項下責任由本公司擔保。 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 ...

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。 北京市海淀區功德寺地塊區位優越，距離有「中國矽谷」之稱的中關村軟件園僅 200米，是北京 大信息產業的集聚高地，客源基數雄厚；距離規劃地鐵13B線軟件園站1.1公里。北京市海淀 （在香港註冊成立的有限公司） （股份代號：00123） 公 告 收購土地 越秀地產股份有限公司（「本公司」）董事會（「董事會」）欣然宣佈，於二○二四年十一月五日， 透過武漢康景實業投資有限公司（本公司實際擁有99.638%權益的附屬公司）（「武漢康景」）， 通過公開掛牌方式以人民幣6,382,500,000元成功競得北京市海淀區功德寺棚戶區改造項目 HD-GDS-002地塊（「北京市海淀區功德寺地塊」）。 北京市海淀區功德寺地塊 本公司透過武漢康景，通過公開掛牌方式以人民幣6,382,500,000元成功競得北京市海淀區功 德寺地塊。 北京市海淀區功德寺地塊總用地面積約42,463平方米，規劃總可建築面積約143,608平方米， ...

财联社11月4日讯（编辑 冯轶）财联社为您带来今日港股重要公告 1）公司要闻 百胜中国(09987.HK)：公布三季度业绩，总收入同比增长5%至30.7亿美元，为历史最高季度；净利润为 2.97亿美元，同比增长22%。期内，外卖销售同比增长18%，同店交易量同比增长1%，连续第七个季度 实现增长。 公告还称，前9月经营利润约10.11亿美元，同比增长1%。净利润约7.96亿美元，同比增长9%。 越秀地产(00123.HK)：前10月累计合同销售910.03亿元，同比下降约24.8%，其中10月销售133.61亿元， 同比上升约46.8%。 融信中国(03301.HK)：前10月累计合同销售61.43亿元，同比减少57.56%；10月销售额6.59亿元，同比减 少61.12%。 雅居乐集团(03383.HK)：前10月累计合同销售135.6 亿元，同比减少65.84%；10月合同销售13.9 亿元， 同比减少约60%。 碧桂园(02007.HK)：10月合同销售43.3亿元。 北京能源国际(00686.HK)：附属与联合体单位订立EPC合约，涉资约5.5亿元。 荣晖控股(08213)：拟收购鑫元昌资讯技术51% ...

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） 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○二四年十月三十一日 的未經審計銷售統計資料及十月份新購土地資料如下： 本月銷售 二○二四年十月，本公司實現合同銷售（連同合營及聯營公司項目的合同銷售）金額約為人 民幣133.61億元，同比上升約46.8%，實現合同銷售面積約為46.99萬平方米，同比上升約 37.5%。 二○二四年一月至十月，本公司累計合同銷售（連同合營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910.03億元，同比下降約24.8%，累計合同銷售面積約為309.80 萬平方米，同比下降約16.8%。累計合同銷售金額約佔二○二四年合同銷售目標人民幣1,470 億元的61.9%。 本月土地收購 二○二四年十月，本公司的附屬公司通過公開掛牌方式取得廣州市一幅地塊約95.48%的實際 權益。該地塊位於 ...

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○二四年十一月四日 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、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：188802 债券简称：21 穂建 05 广州市城市建设开发有限公司 关于"21 穂建 05"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：188802 2、债券简称：21 穂建 05 3、回售登记期：2024 年 8 月 30 ...

透過公開掛牌方式 潛在出售附屬公司股權 本公告由本公司自願作出。 （股份代號：00123） （在香港註冊成立的有限公司） 自願性公告 潛在出售事項 茲提述本公司日期為二○二四年九月九日的公告，內容有關涉及本集團在中國 廣州天河區廣州環貿中心辦公空間及停車場所有權的潛在交易。本公司現時透 過標的公司擁有該等物業，而標的公司為本公司的間接全資附屬公司，其股權 分別由金旺及華振科技服務（ 各為本公司的間接全資附屬公司 ）直接持有81.26 % 及18.74 %權益。 本公司宣佈，本公司建議（ 透過金旺及華振科技服務 ）出售其於標的公司的全部 股權。由於根據中國相關法律法規，出售權益被視為國有資產，因此潛在出售 事項將根據中國規管出售國有資產的相關規則及法規，透過在廣東聯合產權交 易中心上公開掛牌的方式進行。 潛在 出售事 項的最 低代價（ 即轉 讓出售 權益的 底價 ）為 人民 幣1,092,083,400 元。 最終代價將取決於最終競價，且在任何情況下不得低於最低代價。 上市規則的潛在涵義 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 ...

Investment Rating - The report assigns an "Overweight" (OW) rating to Yuexiu Property Co Ltd, indicating a favorable outlook compared to peers [1][3][5]. Core Insights - Yuexiu Property is expected to outperform its peers in sales, profitability, and dividend prospects due to its high-quality sellable resources and superior land reserve channels [1][5]. - The company has a strong financial position and low liquidity risk, supported by its state-owned enterprise (SOE) background [1][6]. - The report anticipates a target price of HKD 5.48, representing a potential upside of approximately 20% from the current price [5][6]. Summary by Sections Sales Growth and Land Reserves - Yuexiu Property has approximately RMB 330 billion in unsold sellable resources, with over 65% located in first-tier cities and more than 30% in second-tier cities [5][6]. - The company has maintained a land acquisition strategy that allows it to purchase land at lower costs, with 60% of its unsold resources acquired during a period of significant price adjustments in 2022 [5][6]. Financing and Liquidity - The company has maintained a net debt ratio of 60% and a cash coverage ratio of 1.5 times for short-term debt, indicating strong liquidity [1][6]. - Yuexiu Property benefits from a diversified financing capability, with an average financing cost of 3.57%, one of the lowest among its peers [6]. Management Incentives and Dividend Yield - The management has implemented equity incentive plans to align interests with shareholders, aiming for a stable dividend payout ratio of 40% [2][5]. - The expected dividend yield for 2024-2026 is projected to be between 7-9%, which is among the highest in the industry [2][5]. Valuation and Market Position - The report highlights that Yuexiu Property's current valuation appears attractive at 5.0 times the 2025 price-to-earnings ratio, compared to 5.1 times for its H-share SOE peers [5][6]. - The company is expected to increase its market share to 1.3% in 2024, up from 1.2% in 2023, positioning it among China's top ten developers [5][6].

Financial Performance - In the first half of 2024, the company achieved revenue of approximately RMB 35.34 billion, representing a year-on-year increase of 10.1%[9] - The gross profit margin was approximately 13.7%, a decrease of 4.1 percentage points year-on-year[9] - Profit attributable to equity holders was approximately RMB 1.83 billion, down 15.9% year-on-year[9] - Core net profit was approximately RMB 1.74 billion, a decline of 18.8% year-on-year[9] - The company recorded contracted sales of approximately RMB 55.4 billion, a year-on-year decrease of 33.8%[10] - The company achieved rental income of approximately RMB 297 million from commercial properties, a year-on-year increase of 41.3%[15] - The company’s service group reported revenue of approximately RMB 1.96 billion, a year-on-year increase of 29.7%, with community value-added service income rising by 61.2%[17] - The company’s cash and cash equivalents totaled approximately RMB 48.14 billion, an increase of 4.4% from the beginning of the year, with a net debt ratio of 58.6%[20] - The average borrowing cost decreased by 41 basis points year-on-year to 3.57%, with the average borrowing cost at the end of the period further declining to 3.47%[20] - Basic earnings per share for the first half of 2024 were RMB 0.4550, down from RMB 0.6345 in the same period of 2023[67] Sales and Market Position - In the Greater Bay Area, contracted sales amounted to approximately RMB 26.11 billion, accounting for 47.1% of total contracted sales[11] - The company maintained its leading market position in the Greater Bay Area and ranked 9th in the industry based on contracted sales[10] - The average contract sales price in the first half of 2024 was approximately RMB 29,500 per square meter, a year-on-year decrease of 12.7%[34] - The total contracted sales amount in East China was approximately RMB 12.88 billion, a year-on-year decrease of 30.9%, accounting for 23.2% of the group's total[39] - The group's contracted sales in the Central and Western regions amounted to approximately RMB 8.94 billion, a year-on-year decrease of 25.8%, representing 16.2% of the total[40] - In the Northern region, the group's contracted sales reached approximately RMB 7.47 billion, a year-on-year increase of 9.6%, accounting for 13.5% of the total[41] Land Acquisition and Development - The company acquired 12 new land parcels with a total construction area of approximately 1.72 million square meters, with 66% of the new land reserves obtained through a diversified acquisition model[13] - As of June 30, the company had total land reserves of approximately 25.03 million square meters, with 94% located in first-tier and key second-tier cities[14] - The company has ongoing construction projects with a total area of 6.34 million square meters in the Greater Bay Area[54] - The company is focusing on optimizing land reserve structure and regional layout[50] - The Greater Bay Area accounts for approximately 41.2% of the total land reserve, while the East China region accounts for 19.1%[50] Financial Management and Strategy - The company is committed to maintaining a prudent financial policy, ensuring compliance with the "three red lines" and managing liquidity risks effectively[30] - The company plans to continue optimizing its debt structure and managing interest rate risks in response to market changes[78] - The company is focused on managing foreign exchange risks and optimizing its debt structure in response to market fluctuations[80] - The company has taken measures to manage foreign exchange risk, with foreign currency borrowings accounting for about 18% of total borrowings[79] - The company is committed to enhancing its market position through strategic land acquisitions and development projects[50] Cash Flow and Liquidity - The company's cash flow from operating activities for the six months ended June 30, 2024, showed a positive trend, contributing to the overall financial stability[106] - The net cash generated from operating activities for the six months ended June 30, 2024, was RMB 6,130,253, a decrease of 45.1% compared to RMB 11,316,664 for the same period in 2023[107] - The total cash and cash equivalents at the end of the period were RMB 25,582,007, down from RMB 30,278,611 at the end of June 2023, reflecting a decrease of 15.5%[109] - The group’s total borrowings, including lease liabilities, reached RMB 111.1 billion as of June 30, 2024, reflecting a strategic approach to financing[197] - The group maintains a rolling budget for cash reserves, including unutilized borrowing facilities and cash equivalents, to manage liquidity needs effectively[192] Employee and Management Compensation - The total salary paid to employees for the six-month period ending June 30, 2024, was approximately RMB 1.632 billion, with a workforce of about 18,800 employees[82] - The total remuneration for key management personnel for the six months ended June 30, 2024, was RMB 4,956,000, a decrease from RMB 5,190,000 for the same period in 2023[176] - The company has implemented share incentive plans to align employee interests with those of shareholders, enhancing retention and performance[82] Future Outlook - The company anticipates a noticeable improvement in the Chinese economy by Q4 2024, supported by increased domestic policy efforts[80] - Future guidance indicates a strategic emphasis on mergers and acquisitions to drive growth and increase market share[106]

Investment Rating - The investment rating for the company is "Outperform the Market" [4][5] Core Viewpoints - The company maintains a strong financial position with stable operating performance, achieving a revenue of RMB 35.34 billion in the first half of 2024, a year-on-year increase of 10.1%. However, the net profit attributable to the parent company decreased by 15.9% to RMB 1.83 billion [4][7] - The company continues to consolidate its leading position in the Greater Bay Area, with total contract sales amounting to approximately RMB 55.4 billion, a year-on-year decline of 33.8% [4][7] - The company has adopted a "commercial and residential dual-platform" strategy, with commercial property operating income increasing by 4.8% to RMB 1.33 billion, and rental income rising by 41.3% to RMB 297 million [4][7] Summary by Relevant Sections Financial Performance - In the first half of 2024, the company reported total revenue of RMB 35.34 billion, with a gross profit margin of 13.7%, down 4.1 percentage points year-on-year. The asset-liability ratio, net debt ratio, and cash short-term debt ratio were 68.3%, 58.6%, and 1.53 times, respectively, maintaining a "green" status under the "three red lines" policy [4][6][7] - The average borrowing cost decreased to 3.47% by the end of the period, with a weighted average borrowing rate of 3.57%, down 41 basis points year-on-year [4][6] Market Position - The company achieved contract sales of RMB 261.1 billion in the Greater Bay Area, RMB 128.8 billion in East China, RMB 89.4 billion in Central and Western China, and RMB 74.7 billion in Northern China, representing 47.1%, 23.2%, 16.2%, and 13.5% of total contract sales, respectively [4][7] Strategic Initiatives - The company has implemented a "6+1" diversified land acquisition model, acquiring 12 plots of land with a total construction area of approximately 1.72 million square meters in major cities, with 66% of the new land reserves obtained through this model [4][8] - The company continues to enhance the interaction between its commercial property and real estate investment trust (REIT) platforms, with the REIT achieving operating income of RMB 1.034 billion, a year-on-year decrease of 2.5% [4][7] Valuation - The forecasted EPS for 2024 is RMB 0.81, with a projected market capitalization range of HKD 28.5 billion to HKD 35.7 billion, corresponding to a reasonable value range of HKD 7.09 to HKD 8.86 per share [5][8]