Core Viewpoint - Wuzhou Real Estate (00230.HK) is moving towards privatization and delisting from the Hong Kong Stock Exchange due to continuous losses and low stock liquidity, with a proposed buyout price of HKD 1 per share, representing a significant premium over previous trading prices [2][5][8]. Group 1: Reasons for Privatization - The privatization plan is initiated by June Glory International Limited, a subsidiary of China Minmetals, to provide an exit opportunity for shareholders due to low stock liquidity, with an average daily trading volume of only 440,000 shares over the past year [4][8]. - The buyout price offers shareholders a chance to realize their investments at a premium, with a 185.71% premium over the unaffected closing price and a 104.08% premium over the last trading day [5][8]. - Wuzhou Real Estate has lost its ability to raise capital through public markets, having not issued shares since 2009, which has limited its financing capabilities [10][8]. - Privatization will allow the company to focus on long-term strategies and resource integration without the pressures of short-term market fluctuations and compliance [10][8]. - The move will simplify the corporate structure and enhance management efficiency by reducing compliance complexities associated with being a publicly listed company [10][8]. Group 2: Financial Performance - Wuzhou Real Estate reported a revenue of HKD 9.883 billion for 2024, a decrease of 21.8%, with a net loss of HKD 3.748 billion, indicating ongoing financial struggles [12][13]. - In the first half of 2025, the company’s revenue dropped to HKD 1.976 billion, a 60.7% decline, with a net loss of HKD 580 million [13]. - The company's total assets were HKD 39.372 billion, with a debt ratio of 77.2%, reflecting increasing financial pressure [13][12]. Group 3: Context within China Minmetals - Wuzhou Real Estate's contribution to China Minmetals' overall revenue is minimal, as the group has a diverse portfolio with total revenue nearing HKD 400 billion [15][14]. - China Minmetals operates nine listed companies, with Wuzhou Real Estate being one of the two listed in Hong Kong, indicating a broader strategy in the real estate sector [15][14].

Core Viewpoint - Wuhuan Real Estate (00230.HK) is moving towards privatization and delisting from the Hong Kong Stock Exchange due to continuous financial losses and low stock liquidity, with a proposed buyout price of HKD 1 per share, representing a premium of approximately 185.71% over the unaffected closing price [1][3][6]. Privatization Reasons - The privatization proposal is initiated by June Glory International Limited, a subsidiary of China Minmetals Corporation, aiming to provide an exit opportunity for shareholders due to low stock liquidity, with an average daily trading volume of only 440,000 shares over the past 12 months [3][6]. - The buyout price offers shareholders a chance to realize their investments at a premium, addressing the long-standing undervaluation of the company's shares [3][6]. - Wuhuan Real Estate has lost its ability to raise capital through public markets, having not issued shares since 2009, which has limited its financing capabilities [6]. - Privatization will allow the company to focus on long-term strategies and resource integration without the pressures of short-term market fluctuations and compliance [6]. - The move is expected to streamline the corporate structure and enhance management efficiency by reducing regulatory complexities [6]. Financial Performance - Wuhuan Real Estate reported a revenue of HKD 9.883 billion for the fiscal year 2024, a decline of 21.8%, with a net loss of HKD 3.748 billion, which has prompted management to prioritize survival and risk management [7][8]. - For the first half of 2025, the company’s revenue dropped to HKD 1.976 billion, a 60.7% decrease year-on-year, with a net loss of HKD 580 million [9]. - The company's total assets stood at HKD 39.372 billion, with a debt ratio of 77.2% and a net debt ratio of 215.4%, indicating a deteriorating financial position [10][9]. Industry Context - Wuhuan Real Estate is one of the 16 state-owned enterprises in the real estate sector under the State-owned Assets Supervision and Administration Commission, but its contribution to the overall revenue of China Minmetals Corporation has become negligible [10]. - China Minmetals operates nine listed companies, with a total revenue of nearly HKD 400 billion, indicating a diversified business model that includes metal mining, metallurgical engineering, and real estate [10][11]. - The real estate sector within China Minmetals has been conservative, focusing on steady development and prioritizing efficiency over scale [11].

Major Events - Minglue Technology (02718) plans to offer 7.219 million Class A shares globally from October 23 to October 28, with cornerstone subscriptions amounting to $59 million [1] - Wisco Properties (00230) received a privatization offer from Wisco Hong Kong at a premium of approximately 104.08%, with trading resuming on October 24 [1] - Junyu Foundation (01757) was acquired by China Venture Capital Holdings for 75% of its shares at a discount of about 79.06%, with trading resuming on October 24 [1] - Kangda Foods (00834) was acquired by Gaosi Shi for approximately 54.69% of the company’s shares at a premium of about 16.23%, with trading resuming on October 24 [1] - Hutchison China MediTech (00013) presented data on HMPL-A251 at the AACR-NCI-EORTC International Conference on Molecular Targeted and Cancer Therapeutics [1] - Giant Bio (02367) received a medical device registration certificate for its Type I α1 collagen lyophilized fiber product [1] - Yiming Anke-B (01541) completed the first patient dosing in the Phase IB/II clinical trial of IMM2510 combined with IMM01 [1] - Heng Rui Medicine (01276) received approval to conduct clinical trials for injection of Rikan Trastuzumab [1] - Hansoh Pharmaceutical (03692) had its application for HS-10365 capsule marketing approval accepted by the National Medical Products Administration [1] - Baixin An-B (02185) completed market access and the first commercial surgery for the IBERIS® RDN system in Switzerland [1] - Haotian International Construction Investment (01341) purchased a total of 646 units of Ethereum as of October 23 [1] Share Buybacks/Reductions - Cornerstone Pharmaceuticals-B (02616) saw CEO Yang Jianxin and senior management purchase an additional 1 million shares [2] - Midea Group (00300) repurchased 1.3434 million A shares for approximately 99.998 million yuan on October 23 [2] - China Communications Construction (01800) repurchased 119.45 million A shares for approximately 10.5994 million yuan on October 23 [2] - Mengniu Dairy (02319) repurchased 700,000 shares for approximately 10.0692 million HKD on October 23 [2] - Lianlian Digital (02598) spent about 7.5555 million HKD to repurchase 967,000 shares on October 23 [2] - Lianyi Rong Technology-W (09959) repurchased 2.47 million shares for approximately 7.4137 million HKD on October 23 [2] - Heng Rui Medicine (01276) repurchased 97,500 A shares for approximately 6.2808 million yuan on October 23 [2] - Gushengtang (02273) repurchased 19,860 shares for approximately 5.8634 million HKD on October 23 [2] Operating Performance - Ping An Good Doctor (01833) reported total revenue of approximately 3.725 billion yuan for the first three quarters, a year-on-year increase of 13.6%, and plans to continue expanding AI technology to enhance medical service efficiency and quality [2] - Sands China Ltd. (01928) reported a 7.5% year-on-year increase in net revenue to $1.9 billion for the third quarter [2] - Livzon Pharmaceutical (01513) announced a net profit attributable to shareholders of 1.754 billion yuan for the first three quarters, a year-on-year increase of 4.86% [2] - China Railway Construction (01186) signed new contracts totaling 1.518765 trillion yuan in the first three quarters, a year-on-year increase of 3.08% [2] - Prada (01913) reported net revenue of 4.07 billion euros for the first three quarters, a year-on-year increase of 9% [2] Additional Performance Metrics - Baio Family Interactive (02100) reported 10.2 million active accounts in the third quarter, a year-on-year increase of 37.8% [3] - Anton Oilfield Services (03337) secured new orders worth 1.273 billion yuan in the third quarter [3]

Company News - China Railway Construction Corporation (01186.HK) reported a total new contract value of 1,518.765 billion yuan for the first three quarters, an increase of 3.08% year-on-year. The new contract value for the third quarter was 462.5954 billion yuan [2] - Zhiyu City Technology (09911.HK) expects total revenue from its social business for the first nine months to be between 4.38 billion and 4.44 billion yuan, representing a year-on-year growth of approximately 34.5% to 36.4%. The innovative business revenue is projected to be between 530 million and 550 million yuan, with a year-on-year growth of about 69.9% to 76.3% [2] - Ping An Good Doctor (01833.HK) reported total revenue of 3.725 billion yuan for the first three quarters, a year-on-year increase of 13.6%, and a net profit of 184 million yuan, up 72.6% year-on-year. The company's F-end and B-end enterprise health business revenue grew by 21.5% year-on-year, serving over 4,500 corporate clients [3] - Livzon Pharmaceutical (01513.HK) reported revenue of 9.116 billion yuan for the first three quarters, an increase of 0.38% year-on-year, and a net profit of 1.754 billion yuan, up 4.86% year-on-year [3] - Mongolian Energy (00276.HK) reported a significant decrease in total revenue for the six months ending September 30, 2025, by no more than 900 million HKD, primarily due to global economic recession and a slowdown in the Chinese steel market [3] - Anning Holdings (00128.HK) issued a profit warning, expecting a profit of approximately 21 million HKD for the first three quarters, a significant turnaround from a loss [3] - Baio Family Interactive (02100.HK) reported 10.2 million active accounts in the third quarter, a quarter-on-quarter increase of 29.1% and a year-on-year increase of 37.8%. The average revenue per paid account was 141.2 yuan, down 19.2% quarter-on-quarter and 13.2% year-on-year [3] - Hengrui Medicine (01276.HK) received approval to conduct clinical trials for its injection of Rukang Qutuzumab, with global sales of similar products totaling approximately 6.557 billion USD [4] - Baixin An-B (02185.HK) completed market access and the first commercial surgery for the IBERIS® RDN system in Switzerland [5] - Hansoh Pharmaceutical (03692) had its application for marketing approval of HS-10365 capsules accepted by the National Medical Products Administration [6] Capital Operations and Buyback Dynamics - Minmetals Land (00230.HK) received a privatization offer from Minmetals Hong Kong, with the offer price representing a premium of 185.71% over the undisturbed closing price [7] - Qizhi Group (00917.HK) received a voluntary lock-up commitment from directors and concert parties, with a lock-up period of 12 months starting from October 23, 2025, involving 103 million shares of the company [7] - Mengniu Dairy (02319.HK) repurchased 700,000 shares at a cost of 10.0692 million HKD, with a repurchase price of 14.33 to 14.4 HKD [7] - Lianlian Digital (02598.HK) repurchased approximately 755.55 million HKD worth of 967,000 shares, with a repurchase price of 7.63 to 7.96 HKD [8]

五矿地产(00230)及要约人June Glory International Limited联合公布，于2025年10月23日，要约人要求董 事会向计划股东提呈该建议，内容有关建议根据公司法第99条以计划安排方式将公司私有化。公司已向 联交所申请于2025年10月24日上午九时正起恢复股份及由公司担保并于联交所上市的集团债务证券(债 务证券代号：40768)买卖。 该建议将以计划方式实施。根据计划，计划股份将予以注销，以换取以现金支付的注销价每股计划股份 1港元。注销价较股份于最后交易日在联交所所报的收市价每股股份0.490港元溢价约104.08%;注销价将 不会提高，且要约人并未保留如此行事的权利。股东及潜在投资者应注意，于作出此声明后，要约人将 不得提高注销价。 于公告日期，公司已发行33.47亿股股份;无利害关系计划股东持有12.76亿股股份(占已发行股份约 38.12%);及要约人持有20.71亿股股份(占已发行股份约61.88%)。假设于记录日期前不会进一步发行股 份，就该建议应付的最高现金代价约为12.76亿港元。 要约人为于英属处女群岛注册成立的有限公司。于公告日期，要约人的全部已发行股由五矿 ...

于公告日期，公司已发行33.47亿股股份;无利害关系计划股东持有12.76亿股股份(占已发行股份约 38.12%);及要约人持有20.71亿股股份(占已发行股份约61.88%)。假设于记录日期前不会进一步发行股 份，就该建议应付的最高现金代价约为 12.76亿港元。 要约人为于英属处女群岛注册成立的有限公司。于公告日期，要约人的全部已发行股由五矿香港全资拥 有。中国五矿为要约人的最终控股股东，其为一间于中国成立的国有企业，分别由中华人民共和国国务 院国有资产监督管理委员会及中华人民共和国全国社会保障基金持有94.11%及5.89%。 智通财经APP讯，五矿地产(00230)及要约人June Glory International Limited联合公布，于2025年10月23 日，要约人要求董事会向计划股东提呈该建议，内容有关建议根据公司法第99条以计划安排方式将公司 私有化。公司已向联交所申请于2025年10月24日上午九时正起恢复股份及由公司担保并于联交所上市的 集团债务证券(债务证券代号：40768)买卖。 该建议将以计划方式实施。根据计划，计划股份将予以注销，以换取以现金支付的注销价每股计划股份 1港 ...

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聯合公告之內容概不負 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聯合公告全部 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。 本聯合公告僅供參考，並不擬亦非構成或組成於任何司法權區購買或認購要約人或 本公司任何證券的任何要約或購買或認購有關證券的邀請，亦非招攬任何投票或批 准，亦不會於任何司法權區在違反適用法律或法規的情況下出售、發行或轉讓本公 司證券。 本聯合公告並非供在、向或從刊發、登載或分發全部或部分內容即構成違反任何司 法權區適用法律或法規的有關司法權區刊發、登載或分發。 （於百慕達註冊成立之有限公司） （股份代號：230） （債務證券代號：40768） 聯合公告 (1)建議由JUNE GLORY INTERNATIONAL LIMITED 根據公司法第99條以計劃安排方式 私有化五礦地產有限公司 (2)建議撤銷五礦地產有限公司的上市地位 (3)成立獨立董事委員會 及 (4)恢復買賣 要約人之財務顧問 – 1 – JUNE GLORY INTERNATIONAL LIMITED （於英屬處女群島註冊成立之有限公司 ...

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 | 2025年9月30日 | | --- | | 截至月份: 狀態: 新提交 | 致：香港交易及結算所有限公司 公司名稱: 五礦地產有限公司 | 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) | 00230 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 3,346,908,037 | | 0 | | 3,346,908,037 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 3,346,908,037 | | 0 | | 3,346,908,037 | 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 ...

智通财经APP讯，五矿地产(00230)发布公告，公司股份自2025年9月30日上午九时起在香港联合交易所 有限公司短暂停牌，以待刊发有关公司若干内幕消息及根据《香港收购及合并守则》而作出的公告。 ...

五矿地产(00230)发布公告，公司股份自2025年9月30日上午九时起在香港联合交易所有限公司短暂停 牌，以待刊发有关公司若干内幕消息及根据《香港收购及合并守则》而作出的公告。 ...