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佈的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全 部或任何部分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。 誠如豁免公佈所述，聯交所早前已授出該豁免，條件為通函須於2 02 4年 1 2月1 3日或之前寄發予股東。由於本公司需要更多時間編製及落實相關 資料以供載入通函，因此，本公司已進一步向聯交所申請豁免嚴格遵守 上市規則第 14 .4 1( a) 條之規定 及 延 後 寄 發 通 函 的 日 期 至 不 遲 於 2 02 5 年 1月13日。 承董事會命 德祥地產集團有限公司 主席 張漢傑 香港，2 02 4年12月13日 （於百慕達註冊成立之有限公司） （股份代號：1 9 9） 進一步延遲寄發通函 茲提述（i）德祥地產集團有限公司（「 本公司」）日期為2 02 4年1 0月 3 1日有關本公司就該等出售事項的主要交易之公佈（「該公佈」），及 （i i）本公司日期為2024年1 1月8日有關獲授該豁免之公佈（「豁免公 佈」）。除另有界定外，本公佈所採用之詞彙與該公佈及豁免公佈所界 定者具有相同涵義。 於本公 ...

Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 10 million, a decrease of 90.1% from HKD 101 million in the same period last year[3]. - The group recorded a loss attributable to owners of the company of HKD 504 million, compared to a loss of HKD 161 million in the previous year, representing an increase of 212.4%[3][10]. - The basic loss per share was HKD 0.56, compared to HKD 0.18 in the same period last year[3]. - The group reported a revenue of HKD 9,697,000 for the six months ended September 30, 2024, a decrease of 90.4% compared to HKD 100,848,000 for the same period in 2023[53]. - The total comprehensive loss for the period was HKD (479,205,000), compared to HKD (244,867,000) in the same period last year, highlighting increased financial challenges[55]. - The group incurred a total operating loss of HKD 109,651,000 for the six months ended September 30, 2024, compared to a loss of HKD 72,421,000 in the prior year[75]. - The group reported a basic and diluted loss per share of HKD 555.56 for the six months ended September 30, 2024, compared to HKD 176.00 in the same period of 2023[82]. - The total loss attributable to owners of the company for the six months ended September 30, 2024, was HKD 504,298,000, significantly higher than the loss of HKD 161,039,000 in the prior year[82]. Asset Management - The group recognized impairment losses on commercial property inventory of HKD 85 million and a fair value decrease of HKD 45 million on investment properties[10]. - Non-current assets decreased to HKD 2,551,016,000 as of September 30, 2024, down from HKD 3,194,076,000 as of March 31, 2024, indicating a reduction in asset value[58]. - The group’s equity in the joint venture, Beijing Poly, was fully impaired at HKD 136,223,000 as of March 31, 2024, resulting in a net book value of zero as of September 30, 2024[85]. - The group has pledged assets totaling HKD 1,015,500,000 in joint ventures and HKD 424,000,000 in investment properties as collateral for bank financing[47]. Cash Flow and Debt - The group recorded a loss attributable to shareholders of HKD 504,300,000 and an operating cash outflow of HKD 58,600,000 during the period[39]. - The group has bank and other borrowings totaling HKD 1,182,900,000, while cash and cash equivalents stand at HKD 17,200,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[39]. - As of September 30, 2024, the total borrowings of the group amounted to HKD 982,900,000, with HKD 396,000,000 overdue[38]. - The total bank and other borrowings of the Group were HKD 1,182,900,000, resulting in a net debt-to-equity ratio of 0.47 as of September 30, 2024[37]. - The company is actively seeking refinancing for its overdue borrowings of HKD 396,000,000, with HKD 4,700,000 already repaid[65]. Operational Challenges - The group anticipates ongoing business challenges in the second half of the year due to economic uncertainties and potential tariffs in the US[51]. - The group continues to implement measures to control administrative and operational costs, expecting improved financial conditions and sufficient working capital for the next twelve months[44]. - The ability to continue as a going concern depends on successfully identifying buyers for asset sales, completing refinancing, and effectively controlling costs[69]. Investments and Divestitures - The group sold its 50% stake in Bayshore Ventures JV Ltd., resulting in a loss of HKD 220.4 million, but improved cash flow and reduced refinancing risks[8]. - The group sold a 10% stake in a residential redevelopment project in Vancouver, retaining an 18% stake post-transaction[19]. - On August 28, 2024, the group sold its 50% interest in a joint venture in Canada for CAD 18,500,000 (approximately HKD 106,800,000), generating cash inflow of approximately HKD 34,600,000[41]. - The group has entered into agreements to sell a 10% interest in a joint venture for CAD 5,360,000 (approximately HKD 30,600,000), which is expected to generate cash inflow of HKD 30,600,000[42]. Legal Matters - The Group has initiated legal proceedings against the major shareholder of Beijing Poly Hotel due to operational control issues, with no response received thus far[26]. - The company has initiated legal proceedings against Beijing Poly for breach of Chinese Company Law, with documents submitted to the Chinese court[87]. Corporate Governance - The group has maintained a commitment to high standards of corporate governance and compliance with regulatory requirements[93]. - The interim results for the period have not been audited or reviewed by the company's auditors, Deloitte[96]. - The mid-term performance announcement is published on the Hong Kong Stock Exchange website and the company's website[98].

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佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全 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。 * 僅供識別 - 1 - (1) 於2024年8月，本集團出售其全部於Bayshore Ventures JV Ltd.的50% 權益，該公司間接持有及經營於加拿大的酒店溫哥華灣岸威斯汀酒 店。有關該出售詳情已於日期分別為2024年8月26日及2024年9月25日 之本公司公佈及通函內披露。預計本期間出售合營公司權益之虧損不 少於港幣220,000,000元。 (2) 由於全球投資市場放緩及不明朗因素，加上商用物業領域面對根本性 的挑戰，本集團預計於本期間本集團之物業價值下降，將導致(i) 已確 認為銷售成本之商業物業存貨（包括香港及海外物業）之減值虧損不 少於港幣80,000,000元（2023期間：無）；(ii) 確認本集團的一個投資 商業物業 之公 平 值 減少不少於港幣40,000,000元 （2023 期 間：港幣 35,000,000元）；(iii) 本集團物業、廠房及設備減值虧損不少於港幣 ...

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佈的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全 部或任何部分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。 （於百慕達註冊成立之有限公司） （股份代號：199） 董事會會議日期 德祥地產集團有限公司（「本公司」）謹此宣佈，本公司將於 202 4 年 1 1 月 27 日 （ 星 期 三 ） 舉行董事會 （ 「 董事會 」 ） 會議，藉以 （ 其中包 括 ） 批准本公司及其附屬公司截至 2024 年 9 月 3 0 日 止 六個月之中期業 績，以及考慮派發中期股息（如有）。 承董事會命 非執行董事： 周美華女士 獨立非執行董事： 石禮謙，GBS ， JP （聯席副主席） 、葉瀚華先生、彭銘東先生 德祥地產集團有限公司 公司秘書 黃少敏 香港，202 4 年 1 1 月 8 日 於本公佈日期，本公司之董事如下： 執行董事： 張漢傑先生 （ 主 席 ） 、 陳國強博士 （聯席副主席 ） 、 陳耀麟先生 、 羅漢華先生 （首席財務總監） 本公佈中、英文版如有任何歧義，概以英文版為準。 * 僅供識別 ...

（於百慕達註冊成立之有限公司） （股份代號：1 9 9） 獲授嚴格遵守 上市規則第 14.41(a)條之豁免 茲提述德祥地產集團有限公司（「本公司」）日期為2 02 4年10月3 1日之 公佈（「該公佈」），內容有關本公司有關該等出售事項的主要交易。 除另有界定外，本公佈所採用之詞彙與該公佈所界定者具有相同涵義。 誠如該公佈所披露，根據上市規則第14 . 41 ( a)條，載有（其中包括）有 關(i)本集團的債項聲明、(ii)本集團之營運資金是否足夠的 聲明（連同 將由本公司核數師發出的信心保證書）、及(ii i)物業之估值報告（統稱 「相關資料」）之通函（「通函」），須於該公佈刊發後十五( 15 )個營 業 日 內 寄 予 股 東 。 由 於 本 公 司 需 要 更 多 時 間 編 製 相 關 資 料 以 供 載 入 通 函 ， 本 公 司 已 向 聯 交 所 申 請 豁 免 嚴 格 遵 守 上 市 規 則 第 1 4.4 1 ( a ) 條 之 規 定，將寄發通函之期限延後至20 24年1 2月1 3日（「該豁免」）。 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佈的內容概不負 責，對其準確性或 ...

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 佈 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 本 公 佈 全 部 或 任 何 部 分 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。 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ） （股 份 代 號：199） 有 關 出售於該等有限合夥企業所持10%權益及應收貸款以及 出售於Assets Builder所 持10%權益的 主要交易 該等出售事項 董 事 會 謹 此 宣 佈，本 集 團 已 於2024年10月31日（聯 交 所 交 易 時 段 結 束 後）進 行 下 列 交 易，以 出 售 其 於Alberni JV所 持10%權 益。 (I) 出售於Development LP的有限合夥人單位 (i)本公司之一間間接全資附屬公司ITCP Alberni Holdings，(ii)Development LP之現有有限合夥人Landa Alber ...

德祥地產集團有限公司（「本公司」）董事會（「董事會」）謹此宣佈 自 2 02 4 年 1 1 月 2 5 日 起 ， 本 公 司 之 香 港 股 份 登 記 及 過 戶 分處將 更改為： 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佈的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全 部或任何部分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。 （於百慕達註冊成立之有限公司） （股份代號：1 9 9） 更改香港股份登記及過戶分處 * 僅供識別 卓佳證券登記有限公司 香港夏慤道 16 號 遠東金融中心 17 樓 電話：(852) 2980 1333 傳真：(852) 2810 8185 自 20 24 年 11 月 25 日起，本公司之股份過戶及登記手續申請應送交至 卓佳證券登記有限公司辦理。於 20 2 4 年 1 1 月 22 日下午 4 時 30 分後仍 未領取之股票，可於 20 24 年 11 月 25 日起到卓佳證券登記有限公司領 取。 承董事會命 德祥地產集團有限公司 公司秘書 黃少敏 香港，2 02 4 年 1 0 月 2 5 日 - 1 - 於本 ...

Financial Performance - Total revenue for the year ended March 31, 2024, was HKD 111 million, an increase from HKD 91 million in the previous year, representing a growth of 22%[9] - Property and hotel income, including share of joint ventures, totaled HKD 742 million, down from HKD 1,056 million, indicating a decline of 30%[9] - The net loss for the year was HKD 682 million, compared to a net loss of HKD 153 million in the previous year, reflecting a significant increase in losses[9] - Basic loss per share was HKD 71, compared to HKD 16 in the previous year, marking a deterioration in earnings performance[9] - The company recorded a net loss attributable to shareholders of HKD 644,900,000, with a basic loss per share of HKD 0.71[29] - The net loss attributable to the company's owners for the current year was HKD 644,900,000, compared to a loss of HKD 146,900,000 in the previous fiscal year[33] - The property segment recorded a loss of HKD 405,700,000, compared to a loss of HKD 135,600,000 in the previous fiscal year[35] - The hotel and leisure segment reported a loss of HKD 230,800,000, compared to a profit of HKD 175,400,000 in the previous year[43] Assets and Equity - Total assets as of March 31, 2024, amounted to HKD 6,710 million, an increase from HKD 5,676 million in the previous year[11] - Shareholders' equity totaled HKD 3,994 million as of March 31, 2024, compared to HKD 2,930 million in the previous year, indicating a growth of 36%[11] Future Plans and Strategies - The company plans to announce its full-year results for 2023-2024 on June 28, 2024, and the annual general meeting is scheduled for September 6, 2024[5] - The company is focusing on strategic investments and potential market expansions to enhance future performance[16] - The company plans to focus on the sales of remaining units in the Macao Jin Feng Ming Hui and Jin Feng Ming Zhu projects to enhance liquidity and financial flexibility[30] - The company will prudently explore potential property development projects outside of China, Macao, Canada, and the UK to enrich its investment portfolio[30] - The group is considering the sale of specific properties as a strategic move to enhance liquidity and manage assets effectively[62] Operational Challenges - The company anticipates ongoing business challenges due to external macroeconomic factors, including high interest rates and geopolitical tensions[29] - The ongoing impacts of the COVID-19 pandemic have led to reduced consumer spending, particularly in Hong Kong and Macau, where the tourism industry has not yet recovered to pre-pandemic levels[80] - Climate change poses various risks, including extreme weather events that could damage property values and increase operational costs[83] - The group faces significant risks from global economic instability, including high interest rates and geopolitical tensions, which may slow economic growth[80] Financing and Debt - As of March 31, 2024, the total bank and other borrowings amounted to HKD 1,362.2 million, resulting in a net debt-to-equity ratio of 0.46, compared to 0.38 in 2023[59] - The group successfully secured new borrowings of HKD 200 million at an interest rate of 15%, to be repaid by April 2026, backed by certain subsidiaries and a major shareholder's guarantee[61] - The group has drawn down HKD 51.2 million in bank borrowings to fund the UK redevelopment project[59] - The group is required to raise additional capital for property investments and development projects, with potential adverse effects on property valuations and borrowing capacity due to ongoing economic downturns[85] Shareholder Information - The group did not declare any dividends for the current year, consistent with the previous year[34] - The company's distributable reserves as of March 31, 2024, amounted to HKD 113,020,000, a decrease from HKD 658,591,000 in 2023[103] - The company has repurchased and canceled a total of 5,436,000 shares during the year, resulting in a total issued share count of 907,198,410 shares as of March 31, 2024[69] - The board believes that the share repurchase enhances the net asset value per share and benefits the company and its shareholders[135] Governance and Compliance - The board consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors, ensuring compliance with listing rules[151] - The company has adopted a standard code for securities trading by directors, ensuring compliance with regulations[150] - The company has established a governance committee to monitor compliance with governance policies and the effectiveness of training for directors and senior management[175] - The audit committee consists of three independent non-executive directors, with Mr. Peng Mingdong as the chairman, effective from September 18, 2023[180] Risk Management - The board is responsible for maintaining a robust and effective risk management and internal control system, which is reviewed at least annually[191] - The company's risk management and internal control systems remained unchanged from the previous year, with no significant deficiencies or concerns identified[195] - The risk management register records identified risks and corresponding mitigation measures, reviewed at least annually[192] Employee Information - The total number of employees as of March 31, 2024, was 130, a decrease from 145 in 2023[68] Market and Customer Information - The company's five largest customers accounted for approximately 91% of total revenue, with the largest customer contributing about 41%[134]

Financial Performance - The company's revenue for the year ended March 31, 2024, increased by 22.4% to HKD 111 million, compared to HKD 90.8 million in 2023[5]. - The attributable loss to the company's owners for the year was HKD 645 million, compared to a loss of HKD 147 million in the previous year[1]. - Basic loss per share was HKD 0.71, compared to HKD 0.16 in the previous year[1]. - The group recorded a significant impairment loss of HKD 136,200,000 related to its investment in Beijing Poly, due to difficulties in recovering costs and lack of reconstruction resources[37]. - The group reported a loss attributable to owners of HKD 644,900,000 and a net cash outflow from operations of HKD 46,500,000 for the year[73]. - The total comprehensive expenses for the year amounted to HKD 722,347,000, compared to HKD 314,648,000 in the previous year[84]. - The group reported a net loss of HKD 74.1 million in 2024, compared to a loss of HKD 5.9 million in 2023[103]. - The company reported a loss of HKD 644,886,000 for the year 2024, compared to a loss of HKD 146,913,000 in 2023, indicating a significant increase in losses[151]. Asset and Liability Management - As of March 31, 2024, the group's total bank and other borrowings amounted to HKD 1,362,200,000, with a net debt-to-equity ratio of 0.46, up from 0.38 in 2023[43]. - The group has outstanding bank borrowings of HKD 1,037,910,000, slightly up from HKD 1,029,291,000 in 2023[60]. - The group plans to seek refinancing before existing borrowings mature, with HKD 396,000,000 in loans due after the reporting period[65]. - The group’s total liabilities as of March 31, 2024, included non-current bank and other borrowings of HKD 324,258,000[87]. - The group’s total equity decreased significantly, reflecting the overall loss for the period[116]. - The group has recognized a full impairment loss of HKD 136,223,000 related to its equity interest in Beijing Poly, reducing the carrying value to zero as of March 31, 2024[157]. - The group recorded a significant decrease in cash and cash equivalents from HKD 61,073,000 in 2023 to HKD 24,743,000 in 2024[118]. Revenue and Income Sources - The contribution from a luxury residential project developed by a joint venture increased to HKD 61.9 million, up from HKD 16.8 million in the previous year[30]. - Revenue for the period reached HKD 111,078,000, up from HKD 90,756,000 in 2023, reflecting a growth of approximately 22.3%[53]. - The total revenue from external customers increased to HKD 111.1 million in 2024, up from HKD 90.8 million in 2023, representing a growth of approximately 22.3%[100]. - Other income, including bank interest income, totaled HKD 23.2 million in 2024, compared to HKD 22.8 million in 2023, reflecting a slight increase[103]. Operational Challenges and Strategic Measures - The group is considering the sale of specific properties as a strategic measure to realize occupied capital and enhance liquidity[45]. - The group is actively seeking refinancing before the current financing matures, with HKD 396,000,000 of borrowings overdue as of the announcement date[75]. - The board anticipates that the group will have sufficient resources to continue its operations for the foreseeable future[90]. - The group plans to focus on enhancing operational efficiency and exploring potential property development projects outside of its current markets[79]. - The board believes that controlling administrative and operational costs will effectively address liquidity needs and improve financial conditions[188]. Impairment and Valuation Issues - The fair value of the company's investment properties decreased by HKD 134 million due to adverse market conditions in Hong Kong's commercial property sector[29]. - The property segment reported a fair value decrease of HKD 134 million and impairment losses of HKD 46.4 million as of March 31, 2024[97]. - The group recognized a fair value reduction of HKD 7,957,000 for receivables from a joint venture[122]. Governance and Compliance - The company is committed to maintaining high standards of corporate governance and compliance with regulatory requirements[165]. - The independent auditor's report indicated that sufficient and appropriate audit evidence could not be obtained to provide a basis for an audit opinion on the consolidated financial statements[171]. - There are significant doubts regarding the group's ability to continue as a going concern due to various events and circumstances[173]. Future Outlook and Plans - The board believes that with the planned measures, the group will have sufficient financial resources to meet its obligations for at least the next twelve months[185]. - The effectiveness of the group's going concern assumption depends on the successful execution of its plans and measures[178]. - The company plans to publish its annual performance report on the Hong Kong Stock Exchange and its website[196].

Financial Performance - The group recorded a loss of HKD 682,303,000 for the year ended March 31, 2024, with a net cash outflow from operations of HKD 46,493,000[9]. - The group recorded a net loss of HKD 644.9 million for the year, compared to a net loss of HKD 146.9 million in the previous fiscal year[18]. - The net loss was primarily due to a full impairment loss of HKD 136.2 million on the equity of an associate company in Beijing, a decrease in fair value of investment properties by HKD 134 million, and impairment losses on commercial properties amounting to HKD 46.4 million[18]. - The group did not generate any one-time income during the year, resulting in a share of net loss from joint ventures of HKD 78.8 million[18]. Impairment and Financial Position - The group recognized a full impairment of HKD 136,223,000 related to its interest in Beijing Poly, reducing the carrying value of this interest to zero[5]. - The group has recognized a full impairment loss of HKD 136,223,000 on its equity in Beijing Poly Hotel, reducing its carrying value to zero as of March 31, 2024[15]. - The group’s financial statements reflect a significant impairment loss due to the inability to obtain sufficient audit evidence regarding the associate's financial performance[16]. - The group’s consolidated financial position may require adjustments if the planned measures are not realized[15]. Liquidity and Going Concern - The group is implementing several plans to improve liquidity and financial condition, including obtaining new borrowing sources and controlling administrative and operational costs[10]. - The group has not received written agreements from banks or other lenders regarding the extension of its going concern assessment, raising significant doubts about its ability to continue as a going concern[11]. - The group’s board has considered the likelihood of success for the plans and measures in place to ensure sufficient financial resources for operations over the next twelve months[10]. - The group’s financial statements were prepared on a going concern basis, contingent on the success of its plans and measures[10]. Borrowings and Cash Position - As of March 31, 2024, the total bank and other borrowings amounted to HKD 1,362,168,000, of which HKD 1,037,910,000 is due within twelve months and classified as current liabilities[9]. - The group’s cash and cash equivalents stood at HKD 24,743,000 as of March 31, 2024[9]. Audit and Financial Reporting - The independent auditor has not expressed an opinion on the group's consolidated financial statements due to significant issues that prevent obtaining sufficient and appropriate audit evidence[7]. - The impact of undiscovered misstatements on the consolidated financial statements could be significant but not pervasive[14]. - The group was unable to obtain financial information from Beijing Poly Hotel to assess its financial performance and position as of March 31, 2024[15]. - The group has not made any adjustments regarding the equity of the associate company or the associated losses due to scope limitations[18]. Investment Properties - The group’s investment properties were adversely affected by the market conditions in Hong Kong, leading to a decrease in fair value[18].