公司执行董事兼董事总经理戴鹏宇先生已获委任为公司董事会代理主席、董事会辖下的执行委员会、提 名委员会及可持续发展委员会代理主席、薪酬委员会成员及授权代表﹐自2025年11月13日起生效，直至 正式委任新董事会主席为止。 五矿地产(00230)发布公告，何剑波先生因中国五矿集团有限公司的人员轮换与继任规划安排而辞任公 司执行董事、董事会主席、董事会辖下的执行委员会、提名委员会及可持续发展委员会主席及薪酬委员 会成员之职务，由2025年11月13日起生效。何先生亦将再担任根据上市规则第3.05条项下公司授权代 表，自2025年11月13日起生效。 ...

（於百慕達註冊成立之有限公司） （股份代號：230） 董事名單與其角色和職能 董事會設立五個委員會，其成員資料載列如下： | 董事姓名 | 執行委員會 | 審核委員會 | 薪酬委員會 | 提名委員會 | 可持續發展 委員會 | | --- | --- | --- | --- | --- | --- | | 戴鵬宇先生 | C* | | M | C* | C* | | 陳興武先生 | M | | | | M | | 楊尚平先生 | M | | | | | | 何小麗女士 | | | | | | | 黃國平先生 | | | | | | | 羅范椒芬女士 | | M | C | M | | | 王秀麗教授 | | C | M | M | | | 蘇魯閩先生 | | M | M | M | | 附註： C 有關委員會之主席 戴鵬宇先生－代理主席及董事總經理 陳興武先生－董事副總經理 楊尚平先生－董事副總經理 非執行董事： 何小麗女士 黃國平先生 獨立非執行董事： 羅范椒芬女士 王秀麗教授 蘇魯閩先生 五礦地產有限公司董事會（「董事會」）於二零二五年十一月十三日的成員載列如下： 執行董事： C* 有關委員會之代理主席 ...

董事會謹此宣佈，何劍波先生（「何先生」）因中國五礦集團有限公司的人員輪 換與繼任規劃安排而辭任本公司執行董事、董事會主席、董事會轄下的執行委員 會、提名委員會及可持續發展委員會主席及薪酬委員會成員之職務，由二零二五 年十一月十三日起生效。 何先生亦將不再擔任根據上市規則第 3.05 條項下本公司之授權代表（「授權代 表」），自二零二五年十一月十三日起生效。 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，概不會就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。 （於百慕達註冊成立之有限公司） （股份代號：230） (1)執行董事及董事會主席辭任；及 (2)董事會主席、董事會委員會組成及授權代表之變更 茲提述 June Glory International Limited 及五礦地產有限公司（「本公司」）日期 為二零二五年十月二十三日之聯合公告，內容有關（其中包括）建議根據百慕達 一九八一年公司法第 99 條以計劃安排方式私有化本公司（「規則 3.5 公告」）。 除另有說明外，本公告所採用詞彙與規則 3.5 ...

Core Insights - The article highlights the ongoing trend of listed real estate companies in China exiting the capital market, with both passive and active delistings becoming more prevalent [2][12]. Group 1: Delisting Trends - In October 2023, two listed real estate companies, Winking Real Estate and Upkun Real Estate, announced their exit from the capital market [1]. - Since the beginning of 2023, nearly 23 listed real estate companies have delisted from A+H shares, with 7 opting for privatization since 2021 [2][6]. - The delisting trend is characterized by a significant number of companies facing forced delisting due to prolonged trading suspensions, with Upkun Real Estate being the latest to be mandated to delist by the Hong Kong Stock Exchange [3][4]. Group 2: Reasons for Delisting - The primary reasons for delisting include liquidity crises, continuous performance declines, and failure to meet reporting requirements, leading to long-term trading suspensions [5][14]. - The article notes that as of October 27, 2025, 12 A-share real estate companies have been delisted, with 8 of them occurring in 2023 due to stock prices falling below the 1 yuan threshold for 20 consecutive trading days [7]. Group 3: Privatization as a Strategy - The number of companies choosing to privatize has increased, indicating a strategic shift in response to market pressures and operational challenges [12]. - Companies like Winking Real Estate and Dayue City Real Estate are considering privatization as a means to enhance operational flexibility and reduce regulatory burdens [15]. - The article emphasizes that privatization is not merely a reaction to current challenges but a strategic move for long-term restructuring and value reconstruction in a deeply adjusted industry [16].

Core Viewpoint - The recent trend of listed real estate companies exiting the capital market is characterized by a predominance of passive delistings and an increase in active privatization delistings, indicating a significant restructuring and reshuffling within the industry over the next 2-3 years [1][11]. Summary by Sections Delisting Trends - In October 2023, two listed real estate companies, Winking Property and the previously high-performing Shankun Property, announced their exit from the capital market [1]. - Since the first delisting of New Power Holdings in 2023, nearly 23 listed real estate companies have exited the A+H share market within three years, with 7 companies opting for privatization since 2021 [1][2]. Reasons for Delisting - The delisting of companies like Shankun Property and Evergrande reflects a broader trend of performance decline among listed real estate firms due to liquidity crises and ongoing industry adjustments [2]. - Companies listed on the Hong Kong Stock Exchange face mandatory delisting if they remain suspended for 18 months, while A-share companies often trigger delisting due to stock prices falling below 1 yuan for 20 consecutive trading days [2][3]. Privatization Movement - The number of companies choosing to privatize has notably increased, with several firms, including Winking Property and Dayue City, considering privatization as a strategic response to market pressures [7][9]. - The reasons for privatization include ongoing market and operational pressures, the need for strategic adjustments, and the desire to enhance operational efficiency [9][10]. Financial Performance - Winking Property has reported continuous losses since 2022, with a significant loss of 3.26 billion yuan in 2024, highlighting the financial pressures driving privatization decisions [9]. - The sales revenue of Winking Property has drastically decreased from 26 billion yuan in 2021 to 7.02 billion yuan in 2024, further emphasizing the challenges faced by the company [9]. Future Outlook - The combination of passive delistings and active privatizations illustrates the current phase of "clearing" and "restructuring" within the industry, suggesting that this trend will continue in the coming years [11].

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10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: 五礦地產有限公司 呈交日期: 2025年11月3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) | 00230 | 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 ...

Core Viewpoint - China Minmetals Corporation's real estate platform, Minmetals Land, has announced its privatization and delisting from the Hong Kong Stock Exchange, reflecting a broader trend of real estate companies exiting the market amid industry adjustments and capital restructuring [2][3][4]. Company Summary - Minmetals Land is being privatized by June Glory International Limited, a subsidiary of China Minmetals, with a proposed cash offer of HKD 1 per share, representing a premium of approximately 185.71% over the last unaffected trading price [3]. - The company has issued 3.347 billion shares, with June Glory holding 2.071 billion shares (approximately 61.88%) and other shareholders holding 1.276 billion shares (approximately 38.12%) [3]. - Minmetals Land's trading volume has been low, averaging about 440,000 shares per day, which is only 0.03% of the total shares held by non-related shareholders [5]. - The company has faced significant financial challenges, reporting revenues of HKD 100.65 billion, HKD 126.31 billion, and HKD 98.83 billion for the years 2022 to 2024, with shareholder losses of HKD 13.62 billion, HKD 10.16 billion, and HKD 35.21 billion respectively [6]. Industry Summary - A number of real estate companies have announced their delisting from the Hong Kong Stock Exchange this year, categorized into voluntary privatization and involuntary delisting due to prolonged trading suspension [7][11]. - The Hong Kong Stock Exchange was previously a preferred platform for real estate financing, but the current market conditions have led to a loss of value and functionality for many listed companies [8][9]. - The ongoing deep adjustment in the real estate market has prompted companies to accelerate their exit from the capital market, as they face liquidity issues and diminished financing capabilities [10][11]. - The trend of delisting is expected to continue as companies seek to improve operational efficiency and reduce costs in a challenging market environment [11].

Core Viewpoint - China Minmetals Corporation's real estate platform, Minmetals Land, has announced its privatization and delisting from the Hong Kong Stock Exchange, reflecting a broader trend of real estate companies exiting the market amid industry adjustments and capital restructuring [1][3][5]. Company Summary - Minmetals Land is being privatized by June Glory International Limited, a subsidiary of China Minmetals, with a proposed cash offer of HKD 1 per share, representing a premium of approximately 185.71% over the unaffected share price and 104.08% over the last trading day [2][3]. - The company has issued 3.347 billion shares, with June Glory holding 2.071 billion shares (approximately 61.88%) and other shareholders holding 1.276 billion shares (approximately 38.12%) [2]. - Minmetals Land has faced limited capital raising capabilities and has lost the advantages of being a listed company, with average daily trading volume of only 440,000 shares, representing about 0.03% of the total shares [3][4]. Industry Summary - The Hong Kong Stock Exchange was once the preferred financing platform for mainland real estate companies, but many have announced their delisting this year due to performance pressures and the loss of financing value [5][6]. - The real estate sector is undergoing a deep adjustment, with companies facing low liquidity and the loss of capital market value, leading to a trend of privatization and delisting [7][8]. - The current market environment has resulted in many companies experiencing continuous losses and a lack of new land reserves, prompting strategic contractions and resource consolidation opportunities for parent companies [4][5][8].

Core Viewpoint - The article discusses the trend of privatization and delisting of Hong Kong-listed companies, highlighting that 21 companies have completed this process in 2023 due to factors such as low trading volumes, loss of financing capabilities, and strategic transformations [2][4]. Group 1: Privatization Details - Minmetals Land announced its plan to privatize and delist from the Hong Kong Stock Exchange, offering a buyout price of HKD 1 per share, which represents a premium of approximately 104.08% over the last trading day [4]. - The privatization process typically involves the controlling shareholders proposing to buy out all issued shares, often at a price higher than the market value, indicating a willingness to compensate minority shareholders [4][5]. - In addition to small-cap companies, larger firms like HSBC have also announced privatization plans, with HSBC proposing a cash buyout of HKD 155 per share, reflecting a 30% premium over the previous closing price [4]. Group 2: Reasons for Privatization - The primary reasons cited for privatization include providing exit opportunities for shareholders, long-term low liquidity of the company's stock, limited capital raising capabilities, and the need for strategic flexibility [4][6]. - Companies often face challenges such as low trading volumes and diminished financing abilities, which drive the decision to privatize [6]. Group 3: Market Reactions and Outcomes - Following the announcement of privatization plans, most companies experience significant stock price increases, as seen with Minmetals Land's stock surging by 90% on October 24 [4]. - However, there are instances where privatization proposals fail due to shareholder opposition, as demonstrated by the case of Goldlion, where a proposed buyout was rejected by a significant percentage of shareholders [5].

Core Viewpoint - The company, Wuzhou International (00230), reported a significant decline in contract sales for the first nine months of 2025, with a total of approximately 3.22 billion RMB, reflecting a year-on-year decrease of about 24.2% [1] Group 1 - The total contract sales amount for the first nine months was approximately 3.22 billion RMB [1] - The total floor area of the contracts was about 190,000 square meters, which represents a year-on-year decrease of approximately 14.4% [1]