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) | 00313 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 1 | HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 1 | HKD | | 2,000,000,000 | 本月底法定/註冊股本總額： HKD 2,000,000,000 FF301 致：香港交易及結算所有限公司 公司名稱: 裕田中國發展有限公司 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 呈交日期: 2025年12 ...

Core Viewpoint - Yutian China (00313) reported a narrowed loss of HKD 45.847 million for the six months ending September 30, 2025, reflecting a 4.5% year-on-year improvement, while revenue increased by 4.6% to HKD 21.694 million [1] Financial Performance - The company's revenue for the reporting period was HKD 21.694 million, representing a year-on-year growth of 4.6% [1] - The loss attributable to shareholders was HKD 45.847 million, which is a 4.5% reduction compared to the previous year [1] - Basic loss per share was HKD 0.0393 [1] Property Sales and Income - Property sales revenue amounted to approximately HKD 5.181 million, showing a significant year-on-year increase of 445.9%, attributed to an increase in the delivery of properties after construction completion [1] - Management fee income was around HKD 11.67 million, down 20.0% year-on-year due to a decrease in management fee rates [1] - Rental income was approximately HKD 3.438 million, reflecting an 18.0% year-on-year decline [1]

Core Viewpoint - Yutian China (00313) reported a revenue of HKD 21.694 million for the six months ending September 30, 2025, representing a year-on-year increase of 4.6% [1] Financial Performance - The company recorded a loss attributable to shareholders of HKD 45.847 million, which is a reduction of 4.5% compared to the previous year [1] - Basic loss per share was HKD 0.0393 [1] Revenue Breakdown - Property sales revenue was approximately HKD 5.181 million, showing a significant year-on-year increase of 445.9%, attributed to an increase in the delivery of properties after construction completion [1] - Management fee income was around HKD 11.67 million, reflecting a year-on-year decrease of 20.0% due to a decline in management fee rates [1] - Rental income amounted to approximately HKD 3.438 million, which is an 18.0% decrease year-on-year [1]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 21,694,000, an increase of 4.63% compared to HKD 20,736,000 for the same period in 2024[3] - Gross profit remained stable at HKD 11,172,000, slightly down by 0.03% from HKD 11,175,000 in the previous year[3] - The company reported a loss before tax of HKD 45,162,000, an improvement of 10.3% compared to a loss of HKD 50,356,000 in the same period last year[4] - Total comprehensive loss for the period was HKD 36,837,000, a significant reduction from HKD 48,886,000 in the previous year, reflecting a decrease of 24.7%[4] - The company reported a total revenue of approximately HKD 21,694,000 for the reporting period, an increase of 4.6% compared to approximately HKD 20,736,000 in the corresponding period[31] - The loss attributable to equity holders was approximately HKD 46,085,000, compared to approximately HKD 48,510,000 in the previous period[33] - Basic loss per share was HKD 0.0393, compared to HKD 0.0411 in the corresponding period (restated)[33] Cash and Liabilities - The company’s cash and cash equivalents were HKD 6,007,000 as of September 30, 2025, down from HKD 11,758,000 at the end of March 2025[5] - The net current liabilities amounted to HKD 497,604,000, an increase from HKD 473,870,000 as of March 31, 2025[6] - The company’s total assets less current liabilities stood at HKD 410,873,000 as of September 30, 2025, compared to HKD 449,155,000 at the end of March 2025[6] - Accounts receivable increased to HKD 2,616,000 as of September 30, 2025, from HKD 1,446,000 as of March 31, 2025[27] - Accounts payable decreased to HKD 435,977,000 as of September 30, 2025, from HKD 448,405,000 as of March 31, 2025[28] - The group's current ratio as of September 30, 2025, was 0.63, slightly down from 0.64 as of March 31, 2025[52] Project Developments - The company is in discussions with over ten potential investors regarding the restart of the Qinhuangdao project, focusing on key terms such as investment amounts and profit-sharing mechanisms[9] - The Yinchuan project has seen the completion of the last two residential buildings, with a rental rate of 89.2% for the commercial section, making it one of the largest curtain retail centers in Northwest China[10] - The company pre-sold 23 residential apartments and 63 parking spaces during the reporting period[10] - The Qinhuangdao Venice Water City Outlet project covers approximately 1,077 acres and is planned to be developed in three phases, with Phase 1 having a total land area of about 163,227 square meters[38] - The Ningxia project, known as "Jinsheng European City," includes a total land area of approximately 133,300 square meters for residential and commercial complexes[39] - The "Jinsheng Yuejing" residential community project spans about 120 acres and consists of 20 mid-to-high-rise buildings, with the second phase completed and started delivery during the reporting period[40][41] - The commercial project in Yinchuan, "Jinsheng International Home • Sheng Plaza," has a total construction area of over 90,000 square meters and achieved an occupancy rate of approximately 89.2% as of September 30, 2025[42] Revenue Streams - The group reported property sales revenue of HKD 5,181,000 for the six months ended September 30, 2025, compared to HKD 949,000 for the same period in 2024, representing a significant increase[20] - Total customer contract revenue increased to HKD 18,256,000 in 2025 from HKD 16,544,000 in 2024, reflecting a growth of about 10.3%[20] - Management fee income decreased to HKD 11,670,000 in the six months ended September 30, 2025, from HKD 14,583,000 in 2024, a decline of approximately 20%[20] - Rental income decreased by 18.0% to approximately HKD 3,438,000 from approximately HKD 4,192,000 in the previous period[31] - Property sales revenue for the reporting period was approximately HKD 5,181,000, a significant increase of 445.9% from approximately HKD 949,000 in the previous period due to increased property deliveries after construction completion[31] Financing and Investment - Financing costs for the six months ended September 30, 2025, totaled HKD 19,285,000, an increase from HKD 16,463,000 in 2024, marking an increase of approximately 11%[21] - The group continues to explore various financing options with multiple financial institutions, including discussions with Huaxia Bank[13] - The group has signed a new loan agreement for an unsecured revolving loan of HKD 2,000,000,000 at an interest rate of 5%, effective January 2026[12] - The group has identified over five potential investment opportunities in China and Southeast Asia as of September 30, 2025, although no binding agreements have been established[14] - The group is actively seeking to expand its property management business but has not yet reached any agreements with potential targets[11] Market Conditions and Strategy - The company has faced significant challenges in the Chinese real estate market due to oversupply and declining buyer confidence, leading to high financial costs and low return rates[59] - The central government has introduced stimulus policies to improve market conditions, although progress remains slow[59] - The company plans to strengthen collaborations with financial institutions, government departments, and other industry players to revitalize its projects[59] - The company is actively exploring opportunities outside of China, particularly in Southeast Asia, which has high growth potential and a young population[59] Corporate Governance - The board of directors has not recommended any interim dividend for the reporting period[60] - The company has adhered to the corporate governance code, with a noted exception regarding the separation of the roles of chairman and CEO, which are currently held by the same individual[61] - The board is committed to maintaining high standards of internal control to ensure operational effectiveness and compliance with legal regulations[62] - The audit committee has reviewed the group's financial performance and discussed risk management and internal controls[65] - The mid-term report will be published on the company's website and the Hong Kong Stock Exchange at an appropriate time[66]

Group 1: Company Overview - Yutian China Development Limited is listed on the Hong Kong Stock Exchange under the stock code HK00313, established in the Cayman Islands in September 1990 and has been operating in Bermuda since February 2004 [2] - The company primarily engages in commercial and specialty real estate, including global outlet shopping parks, low-density high-quality residential properties, tourism real estate, senior living properties, and vineyards [2] - Yutian China's core products include the "Yutian Global Outlet," "Yutian Outlet Town," "Yutian Happiness City," and vineyard estates, reflecting a mixed development approach combining residential and commercial real estate [2] Group 2: Financial Performance - As of March 31, 2025, Yutian China reported total revenue of 114 million yuan, a year-on-year increase of 285.89%, while the net profit attributable to shareholders was -230 million yuan, a decrease of 12.37% [1] - The gross profit margin stood at 26.73%, with a high asset-liability ratio of 99.95% [1] Group 3: Market Position and Valuation - Yutian China's price-to-earnings (P/E) ratio is -0.51, ranking 204th in the industry, while the average P/E ratio for the real estate sector is 0.83 [1] - Other companies in the industry have varying P/E ratios, such as Jinao International at 0.05, Z FIN at 0.64, and Wan Shichang International at 2.37 [1]

Core Viewpoint - Yutian China (00313.HK) announced that it will hold a board meeting on November 28, 2025, to approve the interim results for the six months ending September 30, 2025, and to consider the distribution of an interim dividend, if any [1] Summary by Relevant Sections - Company Announcement - The board meeting is scheduled for November 28, 2025 [1] - The meeting will focus on approving the interim results for the period ending September 30, 2025 [1] - The board will also consider the potential distribution of an interim dividend [1]

（股份代號：313） 董事會會議日期 裕田中國發展有限公司（「本公司」）之董事會（「董事會」）謹此宣佈，本公司將 於二零二五年十一月二十八日（星期五）舉行董事會會議，藉以（其中包括）批 准本公司及其附屬公司截至二零二五年九月三十日止六個月的中期業績，以 及考慮派發中期股息（如有）。 承董事會命 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。 RICHLY FIELD CHINA DEVELOPMENT LIMITED 裕田中國發展有限公司 （於開曼群島註冊成立及於百慕達持續經營之有限公司） 香港，二零二五年十一月十八日 於本公告日期，董事會包括兩名執行董事，為夏春暉先生（主席兼行政總裁）及 陳衛先生（副總裁）；及三名獨立非執行董事，為徐慧敏女士、黃子康先生及 許驚鴻先生。 裕田中國發展有限公司 主席兼行政總裁 夏春暉 ...

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 公司名稱: 裕田中國發展有限公司 呈交日期: 2025年11月5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) | 00313 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | | 1 HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | | 1 HKD | | 2,000,000,000 | 本月底法定/註冊股本總額： HKD 2,000 ...

Core Insights - *ST Tianshan (300313.SZ) reported its livestock sales for September 2025, with a total of 294 heads sold and revenue of 2.8667 million yuan, indicating significant month-on-month growth [1] - The month-on-month changes in sales volume and revenue were 500.00% and 422.14%, respectively, showcasing a strong recovery compared to the previous month [1] - However, year-on-year comparisons reveal a decline, with sales volume and revenue decreasing by 35.38% and 53.02%, respectively, indicating potential challenges in maintaining sales levels compared to the previous year [1]

Core Insights - *ST Tianshan (300313.SZ) reported a significant increase in sales of live livestock in September 2025, with 294 heads sold and revenue of 2.8667 million yuan, reflecting a month-on-month change of 500.00% in sales volume and 422.14% in revenue [1] Sales Performance - The sales volume of live livestock increased by 500.00% compared to the previous month [1] - The sales revenue saw a month-on-month increase of 422.14% [1] - Year-on-year comparisons show a decline, with sales volume down by 35.38% and revenue down by 53.02% [1]