(2)延遲派付特別股息 茲提述萬達酒店發展有限公司（「本公司」）(i)分別於二零二五年四月十七日及 六月二十四日發佈的公告及通函（「通函」），內容有關（其中包括）出售萬達酒 店管理（香港）有限公司的全部已發行股本；及(ii)於二零二五年六月十日發佈 的公告，內容有關宣派特別股息（統稱「刊發文件」）。除非另有界定，本公告所 用詞彙與刊發文件中所界定者具有相同涵義。 1 延後最晚截止日 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，概不對因本公告 全部或任何部分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。 WANDA HOTEL DEVELOPMENT COMPANY LIMITED （於百慕達註冊成立之有限公司） （股份代號：169） 非常重大出售事項 出售一間附屬公司 (1)延後最晚截止日 及 誠如通函所披露，出售事項之交割須待於二零二五年九月三十日或本公司與 買方共同協定的有關其他日期（「最晚截止日」）或之前達成或豁免（視情況而 定）若干先決條件後，方告作實。於本公告日期，交割的若干先決條件尚未達 成。 香港，二零二五 ...

Core Viewpoint - Wang Jianlin and Wanda Group have attracted significant market attention due to a recent high consumption restriction order involving an execution amount of 186 million yuan, reflecting the company's financial difficulties [2][3][4]. Financial Situation - The restriction was lifted within 72 hours, indicating a potential efficiency in resolving debt disputes, but it also highlights Wanda's ongoing debt pressure, with total executed amounts exceeding 7 billion yuan across various companies within the Wanda Group [2][4][5]. - As of now, Wanda Group has 10 execution records totaling approximately 5.26 billion yuan, alongside 47 equity freeze records [5]. Asset Sales Strategy - In response to financial challenges, Wanda Group has shifted from a "buying" strategy to a "selling" strategy, with significant asset sales aimed at debt reduction. Since 2023, Wang Jianlin has sold multiple Wanda Plaza locations, with a total of 85 plazas sold or set to be sold by 2025 [10][12]. - The largest transaction involves the sale of 48 Wanda Plaza locations to a consortium, with estimated transaction values around 20 billion yuan [11][12]. Market Perception - The rapid lifting of the consumption restriction has sparked public interest and concern regarding Wang Jianlin's financial health and the future of Wanda Group, as the company continues to face scrutiny over its debt obligations and asset management [3][4][6].

Core Viewpoint - The article discusses the decline of Wang Jianlin and Wanda Group, highlighting the company's debt crisis and the shift from the real estate era to the technology era, emphasizing the need for adaptation to new market conditions [4][25]. Wanda's Debt Crisis - Wang Jianlin was recently subjected to a high consumption restriction due to a court ruling related to a 186 million yuan enforcement case, revealing Wanda's ongoing debt issues [5][9]. - Wanda Group has 10 enforcement cases totaling 5.262 billion yuan, with 47 equity freeze cases affecting core subsidiaries, indicating severe financial distress [9][10]. - The company has been forced to sell over 30 Wanda Plazas to survive, with significant transactions planned for 2025, indicating a shift towards asset liquidation [10][12]. Historical Context - The turning point for Wanda began in 2017 when it faced regulatory scrutiny over its overseas investments, leading to a liquidity crisis and a reported debt exceeding 600 billion yuan [10][11]. - Despite attempts to pivot towards a lighter asset model, Wanda's debt continued to escalate, particularly in its real estate segment, which has become a liability rather than an asset [11][14]. Business Model Challenges - Wanda's diversified business model, which once thrived on real estate, is now under pressure as each segment faces its own challenges, leading to a systemic risk across the company [14][17]. - The cultural and investment arms of Wanda have struggled to generate returns, exacerbated by the pandemic and market downturns, further straining the company's financial health [17][18]. Market Dynamics - The article contrasts the decline of "old economy" stocks, like Wanda, with the rise of "new economy" stocks focused on technology and innovation, signaling a broader market shift [19][20]. - The real estate sector's decline has forced traditional companies to adapt or face obsolescence, as seen in Wanda's struggles compared to more agile firms like Wantong Development [22][23]. Conclusion - The narrative of Wang Jianlin's fall from grace serves as a cautionary tale about the importance of adapting to changing market conditions, particularly the transition from real estate to technology-driven growth [25][26].

Contents 目錄 | Corporate Information | 公司資料 | 2 | | --- | --- | --- | | Business Review | 業務回顧 | 4 | | Financial Review | 財務回顧 | 17 | | Other Information | 其他資料 | 31 | | Report on Review of Interim Condensed | 中期簡明綜合財務資料審閱報告 | | | Consolidated Financial Information | | 42 | | Interim Condensed Consolidated Statement | 中期簡明綜合損益表 | | | of Profit or Loss | | 44 | | Interim Condensed Consolidated Statement | 中期簡明綜合全面收入表 | | | of Comprehensive Income | | 45 | | Interim Condensed Consolidated Statement | 中期簡明綜合財務狀 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 萬達酒店發展有限公司 (於百慕達註冊成立之有限公司) 呈交日期: 2025年9月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00169 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | ...

Core Viewpoint - Wanda Hotel Development reported a significant increase in revenue and profitability for the interim period, indicating a positive turnaround for the company [1] Financial Performance - The company achieved revenue of HKD 57.164 million, representing a year-on-year growth of 21.1% [1] - The profit attributable to the owners of the parent company was HKD 35.639 million, marking a return to profitability compared to the previous period [1]

Core Viewpoint - Wanda Hotel Development (00169) reported a significant turnaround in its financial performance for the six months ending June 30, 2025, with a notable increase in revenue and a shift from loss to profit [1] Financial Performance - Revenue from continuing operations reached HKD 57.164 million, representing a year-on-year increase of 21.07% [1] - Shareholders' profit amounted to HKD 35.639 million, a substantial recovery from a loss of HKD 515 million in the same period last year, indicating a successful turnaround [1] - Basic earnings per share were reported at HKD 0.008 [1]

智通财经APP讯，万达酒店发展(00169)发布截至2025年6月30日止六个月中期业绩，持续经营业务收益 5716.4万港元，同比增加21.07%;股东应占溢利3563.9万港元，上年同期股东应占亏损5.15亿港元，同比 扭亏为盈;每股基本盈利0.8港仙。 ...

Financial Performance - For the six months ended June 30, 2025, the company reported revenue of HKD 57,164,000, an increase of 21.5% compared to HKD 47,217,000 for the same period in 2024[2] - The gross profit for the same period was HKD 39,359,000, up 11.4% from HKD 35,441,000 in 2024[2] - The net loss from continuing operations for the six months was HKD 51,909,000, a significant improvement from a loss of HKD 957,503,000 in the previous year[3] - The company recorded a profit from discontinued operations of HKD 66,716,000, compared to HKD 61,912,000 in 2024[3] - The total comprehensive income for the period was HKD 57,033,000, a recovery from a loss of HKD 910,939,000 in the same period last year[5] - The group reported a pre-tax loss from continuing operations of 17,805 thousand, compared to 11,776 thousand in the previous year, reflecting a 51.2% increase in service costs[26] - The group recorded a profit of approximately HKD 14,807,000 for the period, a significant turnaround from a loss of HKD 895,591,000 in the previous year[102] Assets and Liabilities - As of June 30, 2025, total assets amounted to HKD 3,734,300,000, compared to HKD 2,194,930,000 as of December 31, 2024[8] - The company's cash and cash equivalents were HKD 218,411,000, down from HKD 362,583,000 at the end of 2024[6] - The total liabilities decreased to HKD 1,294,085,000 from HKD 792,923,000 at the end of 2024[7] - The company’s equity attributable to owners of the parent increased to HKD 2,138,768,000 from HKD 2,070,507,000 at the end of 2024[8] - Total assets as of June 30, 2025, amounted to HKD 3,734,378,000, with segment assets of HKD 2,167,388,000 and assets classified as held for sale at HKD 1,355,028,000[19] - Total liabilities as of June 30, 2025, were HKD 1,482,415,000, including segment liabilities of HKD 62,954,000 and liabilities related to assets classified as held for sale at HKD 746,421,000[19] - The total assets classified as held for sale amounted to 1,335,028 thousand as of June 30, 2025[33] - The total liabilities related to assets classified as held for sale decreased to HKD 211 million as of June 30, 2025, with total liabilities amounting to HKD 453.9 million compared to HKD 576.1 million as of December 31, 2024[49] Revenue Breakdown - For the six months ended June 30, 2025, total revenue from external customers was HKD 57,164,000, with HKD 46,128,000 from property leasing and HKD 11,036,000 from overseas transactions[18] - The geographical revenue breakdown shows that HKD 46,128,000 came from China (including Hong Kong) and HKD 11,036,000 from overseas for the six months ended June 30, 2025[22] - Revenue from investment property leasing decreased by 2.3% to HKD 46,128,000 in the first half of 2025 from HKD 47,217,000 in 2024[84] - Total rental income from investment properties and properties held for sale reached 57,164 thousand, up from 47,217 thousand, representing a 21.0% increase year-over-year[24] Operational Strategy - The company is primarily engaged in hotel operations and management, hotel design and construction management services, and investment property leasing in China and overseas[9] - The company has agreed to sell its wholly-owned subsidiary, which includes hotel operations and management services, as part of a strategic move to focus on core business areas[14] - The company’s strategy includes a focus on enhancing operational efficiency and exploring new market opportunities through potential acquisitions and partnerships[14] - The company anticipates continued growth in leasing business and apartment sales following the completion of the sale of Wanda Hotel Management[116] - The company is actively seeking investment opportunities in the cultural tourism sector, leveraging its expertise in hotel design and management[116] Hotel Operations - The hotel management network expanded from 204 hotels with over 40,200 rooms as of December 31, 2024, to 222 hotels with over 42,500 rooms as of June 30, 2025, with an additional 406 hotels under contract and in development[56] - The company operates its hotel business through three models: leasing and operating hotels, managing hotels, and franchising hotels[57] - The company has a multi-brand strategy targeting different customer segments with unique preferences and needs[58] - The company operates five full-service hotel brands, including Wanda Reign and Wanda Vista, focusing on luxury and high-end experiences[60] - The management hotel model allows the company to grant brand licenses to hotel owners, managing 208 hotels under this model[64] - The company has 10 franchised hotels, accounting for approximately 4.5% of total operating hotels, providing training and support services to franchisees[65] Performance Metrics - The average occupancy rate for all hotels decreased to 50.4% in the six months ending June 30, 2025, compared to 51.1% in the same period of 2024[69] - The average daily room rate for all hotels was RMB 428 in the six months ending June 30, 2025, down from RMB 478 in the same period of 2024[70] - The average revenue per available room (RevPAR) for all hotels was RMB 216 in the six months ending June 30, 2025, compared to RMB 244 in the same period of 2024[71] - The occupancy rate for leased and managed hotels in Q2 2025 is 65.3%, down from 69.6% in Q2 2024[76] - Average daily room rate for leased and managed hotels in Q2 2025 is RMB 263, an increase from RMB 253 in Q2 2024[76] - The occupancy rate for franchised hotels in Q2 2025 is 39.7%, unchanged from Q2 2024[76] Dividends and Shareholder Information - The board proposed a special dividend of HKD 0.4620 per share, totaling approximately HKD 2,170,174,000, subject to certain conditions being met[35] - The group has not declared any dividends for the period, except for the special dividend disclosed in the financial statements[51] - The company did not recommend any interim dividends for the period[115] - The group held a special general meeting on July 18, 2025, to approve resolutions related to the sale agreement and the payment of special dividends, which were formally passed by shareholders[52] Other Financial Information - The group reported a loss from continuing operations of HKD 31,077,000 for the six months ended June 30, 2025, compared to a loss of HKD 576,853,000 in 2024, indicating a significant improvement[38] - The group recognized an impairment provision of HKD 6,966,000 to reduce the carrying amount of properties held for sale to their estimated net realizable value[41] - The fair value of investment properties remained unchanged during the period, with no recognized valuation gains or losses[40] - The group did not acquire any new investment properties during the reporting period, consistent with the previous period[40] - The group reported no significant impairment or write-offs for receivables during the period[48] - The company has no significant contingent liabilities as of June 30, 2025[111] - There were no changes in the company's share capital during the period[110] - The company has no interest-bearing loans as of June 30, 2025, consistent with the previous period[106] - The current ratio decreased to 1.84 as of June 30, 2025, down from 2.27 as of December 31, 2024[106] Management and Governance - The company has not appointed a CEO; the role is currently performed by Mr. Ning Qifeng, who is also the Chairman[123] - The Audit Committee, consisting of three independent non-executive directors, reviews the financial data and risk management systems of the group[124] - The interim report will be published on the company's website and the Hong Kong Stock Exchange website, ensuring transparency for shareholders[125]

Group 1 - Wang Jianlin, chairman of Dalian Wanda Group, recently visited Karamay, Xinjiang, to explore investment and tourism development opportunities [2] - Karamay is described as a "pearl of Xinjiang" with rich tourism resources, including unique attractions like the Dushanzi Grand Canyon and the World Devil City [2] - Wang expressed interest in collaborating with Karamay to enhance urban development and improve the happiness index of local residents [2] Group 2 - Dalian Wanda Group has been facing financial difficulties, leading to multiple instances of equity freezes and execution orders this year [2] - The company has adopted a "sell, sell, sell" strategy to alleviate financial pressure, indicating a shift towards a light asset model as part of its strategic plan [2] - On April 17, Tongcheng Travel announced an agreement to acquire 100% of Wanda Hotel Management (Hong Kong) for approximately 2.49 billion yuan, valuing the deal at 9.5 times its adjusted EBITDA for 2023 [3] - Wanda Hotel Management, part of Wanda Hotel Development's light asset segment, is projected to generate revenue of 890 million HKD in 2024, with an occupancy rate of 53.9%, down 2 percentage points year-on-year [3] - In recent years, Wanda Group has sold multiple Wanda Plazas, with insurance companies becoming major buyers [3]