Company News - BeiGene reported total revenue of approximately $3.845 billion for the first nine months, a year-on-year increase of 43%. Adjusted net profit was approximately $693 million, marking a return to profitability. In Q3, revenue reached $1.412 billion, up 41% year-on-year, with adjusted net profit of approximately $304 million, a 489% increase year-on-year. The growth is primarily attributed to the sales increase of BeiYueZe® in the US and Europe, with the US remaining the largest market for the company. The full-year revenue guidance is set at $5.1 billion to $5.3 billion, reflecting strong growth expectations from BeiYueZe® in the US and continued expansion in Europe and other key global markets [2] - Yidu International Holdings announced an earnings upgrade, expecting a profit attributable to shareholders of approximately HKD 1.2 billion for the first half, representing an increase year-on-year [3] - Hua Hong Semiconductor reported sales revenue of $635 million for Q3 2025, a year-on-year increase of 20.7%. However, net profit decreased by 42.6% to $25.725 million [4] - Autohome's net profit attributable to the parent company for Q3 was approximately RMB 436.6 million, with online marketing and other business revenues increasing by 32.1% year-on-year [5] - Xinyi International reported a cumulative net operating income of approximately HKD 13.981 billion for the first ten months, a year-on-year decrease of about 5.3%, with October revenue at HKD 1.457 billion [6] - Dongfeng Motor Group's cumulative vehicle sales for the first ten months reached 1.501 million units, a year-on-year decline of approximately 1.6%. However, sales of new energy vehicles increased by approximately 37.1% to 421,400 units [7] - China Overseas Land & Investment reported a cumulative contracted property sales amount of approximately RMB 189.165 billion for the first ten months, a year-on-year decrease of 21.3% [8] - Poly Property Group reported a cumulative contracted sales amount of RMB 43.8 billion for the first ten months, a year-on-year decrease of 10.43% [9] - Gemdale reported a cumulative contracted sales amount of approximately RMB 9.125 billion for the first ten months, a year-on-year decrease of 43.93% [10] - Sunac China reported a cumulative contract sales amount of approximately RMB 32.77 billion for the first ten months, a year-on-year decline of 25.1% [11] - Guoyin Financial Leasing plans to purchase 1,198 units of domestic information technology computing equipment for a total consideration of RMB 1.04 billion [12] - Youjia Innovation recently received project designation notifications from a globally renowned automotive group's joint venture and luxury brand, with a total order amount of approximately RMB 320 million [13] - Swire Properties reported a rental rate of 96% for Taikoo Place in Q3, with a rental reduction of 13%. Other Swire properties had an occupancy rate of 90%, with a rental reduction of 15% [14] - Zhongshen Construction Industry plans to acquire 100% equity of Huajian Development Co., Ltd. for approximately HKD 213.6 million [15] - Hard Egg Innovation signed a memorandum of understanding with Huixin Investment to jointly develop an AIoT innovation enterprise incubation platform [16] - Damai Entertainment expects mid-term net profit to increase to no less than RMB 500 million, compared to RMB 337 million last year [17] - Cafe de Coral Group issued a profit warning, expecting mid-term profit attributable to shareholders to decline by 65% to 70% [18] - Qingci Games signed a game licensing transfer agreement with Disney, obtaining authorization to develop and publish the game "Disney: Book of Legends," expected to launch in 2026 across various regions [19] - Now Medical Technology's subsidiary signed a strategic cooperation framework agreement with Medtronic Changzhou to promote clinical applications of real-time navigation tracking endoscopic technology in China [19] - Zhaoke Ophthalmology-B signed a distribution agreement with PT FERRON for the commercialization of BRIMOCHOL PF in Indonesia, receiving an upfront payment and potential milestone payments [19] - Shoujia Technology signed a strategic framework cooperation agreement with Stardust Intelligence, covering the development of humanoid robot tendon and related fields [20] Buyback Dynamics - Helen's decided to exercise its share buyback authorization, planning to repurchase up to 127 million shares [21] - China Feihe repurchased 6.806 million shares for a total of approximately HKD 29.4298 million, with a buyback price of HKD 4.29 to HKD 4.35 [22] - Kintor Pharmaceutical repurchased 1.734 million shares for a total of approximately HKD 26.3078 million, with a buyback price of HKD 14.35 to HKD 15.8 [23] - COSCO Shipping Holdings repurchased 1.53 million shares for a total of approximately HKD 20.9869 million, with a buyback price of HKD 13.57 to HKD 13.84 [24] - Sinopec repurchased 2.398 million H-shares for a total of approximately HKD 10.1066 million, with a buyback price of HKD 4.20 to HKD 4.23 [25]

Core Insights - In October 2025, the total bond financing in the real estate sector reached 51.24 billion yuan, marking a year-on-year increase of 76.9% [1][2] - The increase in financing is attributed to a low base from the previous year, where the total was only 28.97 billion yuan [2] - The average bond financing interest rate decreased to 2.56%, down 0.42 percentage points year-on-year [6] Financing Overview - The total bond financing in October 2025 was 51.24 billion yuan, a significant increase from 28.97 billion yuan in October 2024 [2] - Credit bond financing accounted for 32.70 billion yuan, up 50.7% year-on-year, representing 63.8% of the total [2][4] - Asset-backed securities (ABS) financing reached 15.70 billion yuan, a 115.8% increase year-on-year, making up 30.6% of the total [2][5] - Overseas bond financing was 2.85 billion yuan, accounting for 5.6% of the total [2] Financing Structure - From January to October 2025, total bond financing for real estate companies was 488.24 billion yuan, a year-on-year increase of 8.6% [4] - Credit bond financing for the same period was 293.98 billion yuan, a slight increase of 3.3% [4] - The share of credit bonds in total financing was 60.2%, while ABS accounted for 37.8% [4] Interest Rates - The average interest rate for bond financing in October was 2.56%, down 0.42 percentage points year-on-year and 0.13 percentage points month-on-month [6] - The average interest rate for credit bonds was 2.36%, unchanged from the previous month [6] - ABS had an average interest rate of 2.82%, down 0.31 percentage points year-on-year but up 0.14 percentage points month-on-month [6] Corporate Financing Dynamics - In October, China Merchants Shekou issued the highest amount of bonds at 4.5 billion yuan [7] - Suzhou High-tech had the lowest financing cost at 1.84% [7] - Major companies like China Overseas, Poly Development, and others issued bonds exceeding 3 billion yuan [4][8] Capital Market Dynamics - Key real estate companies disclosed new financing, including Huayi City Group's issuance of 2 billion yuan in short-term financing [8] - Several companies are progressing with debt restructuring, with Sunac and Country Garden's plans receiving over 75% creditor approval [8] - Kincor's restructuring plan is progressing smoothly, having secured 250 million yuan in loans from investors [8]

Core Viewpoint - China Overseas Development (00688) reported a significant decline in contract property sales for October 2025, with a year-on-year decrease of 55.1% in sales amount and 40.0% in sales area [1] Sales Performance - In October 2025, the contract property sales amount was approximately RMB 18.661 billion, with a sales area of about 871,600 square meters [1] - From January to October 2025, the cumulative contract property sales amount reached approximately RMB 189.165 billion, reflecting a year-on-year decline of 21.3%, while the cumulative sales area was about 8.454 million square meters, down 6.9% year-on-year [1] Property Acquisition - As of October 31, 2025, the company secured recognized property sales of approximately RMB 2.926 billion, expected to convert into contract property sales in the coming months [1] Land Acquisition - In October 2025, the company acquired three new land parcels in Guangzhou, Shanghai, and Shijiazhuang, with a total equity building area of approximately 395,089.81 square meters and an equity land price of about RMB 7.073 billion [1] - From January to October 2025, the group added a cumulative equity building area of approximately 4,028,798.95 square meters, with a cumulative equity land price of about RMB 83.707 billion [1] - Additionally, in October 2025, China Overseas Hongyang acquired a land parcel in Yangzhou, Jiangsu Province, with an equity building area of approximately 94,532.00 square meters and an equity land price of about RMB 403 million [1]

Core Viewpoint - China Overseas Development (00688) reported a significant decline in contract property sales for October 2025, with a year-on-year decrease of 55.1% in sales amount and 40.0% in sales area [1] Sales Performance - In October 2025, the contract property sales amount was approximately RMB 18.661 billion, with a sales area of about 871,600 square meters [1] - From January to October 2025, the cumulative contract property sales amount reached approximately RMB 189.1665 billion, with a cumulative sales area of about 8.454 million square meters, reflecting year-on-year declines of 21.3% and 6.9% respectively [1] Property Acquisition - As of October 31, 2025, the company secured recognized property sales of approximately RMB 2.926 billion, expected to convert into contract property sales in the coming months [1] Land Acquisition - In October 2025, the company acquired three land parcels in Guangzhou, Shanghai, and Shijiazhuang, with a total equity construction area of approximately 395,089.81 square meters and an equity land price of about RMB 7.073 billion [1] - From January to October 2025, the total equity construction area of newly acquired land reached approximately 4,028,798.95 square meters, with a cumulative equity land price of about RMB 83.707 billion [1] - In October 2025, China Overseas Hongyang acquired a land parcel in Yangzhou, Jiangsu Province, with an equity construction area of approximately 94,532.00 square meters and an equity land price of about RMB 403 million [1]

Core Viewpoint - China Overseas Development (00688.HK) reported a significant decline in contract property sales for October 2025, with a year-on-year decrease of 55.1% in sales amount and 40.0% in sales area [1] Sales Performance - In October 2025, the contract property sales amount was approximately RMB 18.661 billion, with a sales area of about 871,600 square meters [1] - From January to October 2025, the cumulative contract property sales amount reached approximately RMB 189.165 billion, reflecting a year-on-year decline of 21.3%, while the cumulative sales area was about 8.454 million square meters, down 6.9% year-on-year [1] - As of October 31, 2025, the company recorded recognized property sales of approximately RMB 2.926 billion, expected to convert into contract property sales in the coming months [1] Land Acquisition - In October 2025, the group acquired three new land parcels in Guangzhou, Shanghai, and Shijiazhuang, with a total equity construction area of approximately 395,100 square meters and an equity land price of about RMB 7.073 billion [1] - From January to October 2025, the cumulative new land acquisition amounted to an equity construction area of approximately 4.0288 million square meters and a cumulative equity land price of about RMB 83.707 billion [1] - Additionally, in October 2025, China Overseas Hongyang Group acquired a land parcel in Yangzhou, Jiangsu Province, with an equity construction area of approximately 94,500 square meters and an equity land price of about RMB 403 million [1]

（於香港註冊成立之有限公司） （股份代號：688） 截至二零二五年十月三十一日止十個月 物業銷售和新增土地更新 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，概不對因本公告全部或任何部份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。 一、物業銷售更新 於二零二五年十月，中國海外系列公司的合約物業銷售金額約人民幣186.61億元，按年 下跌55.1%；而相應的銷售面積約為871,600平方米，按年下跌40.0%。合約物業銷售金額 和相應的銷售面積的詳情如下列表1所示。 二零二五年一月至十月，中國海外系列公司累計合約物業銷售金額約人民幣1,891.65億 元；而相應的累計銷售面積約8,454,000平方米，分別按年下跌21.3%及6.9%。 此外，截至二零二五年十月三十一日，中國海外系列公司錄得已認購物業銷售約人民幣 29.26億元，預期將於往後數月內轉化為合約物業銷售。 1 | | 合約物業銷售 | 銷售面積 | | --- | --- | --- | | | （人民幣億元） | （萬平方米） | | 本公司及其附屬公司 | ...

智通财经APP讯，中国海外发展(00688)发布公告，中海企业发展集团有限公司2023年面向专业投资者公 开发行公司债券(第一期)将于2025年11月7日支付自2024年11月7日至2025年11月6日期间的利息。 本期债券品种一简称"23中海01"，品种一发行总额为20亿元，票面利率2.90%，每10张"23中海01"面值 人民币1000元派发利息为人民币29.00元(含税);品种二债券简称"23中海02"，发行总额为10亿元，票面 利率3.25%，每10张"23中海02"面值人民币1000元派发利息为人民币32.50元(含税)。 ...

中国海外发展(00688)发布公告，中海企业发展集团有限公司2023年面向专业投资者公开发行公司债券 (第一期)将于2025年11月7日支付自2024年11月7日至2025年11月6日期间的利息。 本期债券品种一简称"23中海01"，品种一发行总额为20亿元，票面利率2.90%，每10张"23中海01"面值 人民币1000元派发利息为人民币29.00元(含税);品种二债券简称"23中海02"，发行总额为10亿元，票面 利率3.25%，每10张"23中海02"面值人民币1000元派发利息为人民币32.50元(含税)。 ...

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的 任何損失承擔任何責任。 （於香港註冊成立之有限公司） （股份代號：688） 海外監管公告 本海外監管公告乃根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市 規則」）第13.10B條刊發。 中國海外發展有限公司（「本公司」）於二零二三年十月三十一日及其後刊發了關於中 海企業發展集團有限公司（本公司全資附屬公司）2023年面向專業投資者公開發行公司 債券（第一期）的公告。 根據有關規定，中海企業發展集團有限公司已經於深圳證券交易所網站 （http://www.szse.cn）上載了《中海企業發展集團有限公司2023年面向專業投資者公開 發行公司債券（第一期）2025年付息公告》。 為遵守上市規則第13.10B條，該等上載資料亦刊登於聯交所「披露易」中文版網站 （http://www.hkexnews.hk）。 承董事局命 中國海外發展有限公司 主席兼執行董事 顏建國 香港，二零二五年十一月五日 於本公告日期，顏建國先生（ ...

Core Insights - The total land acquisition amount of the top 100 real estate companies from January to October reached 783.8 billion yuan, showing a year-on-year increase of 26.4%, although the growth rate has significantly slowed compared to the previous months [2][5] - Major players in land acquisition include China Overseas Land & Investment, China Merchants Shekou, and Greentown China, which ranked first, second, and third in newly added value respectively [5][6] - The trend of joint land acquisition has become mainstream among real estate companies to mitigate risks and share benefits, especially in first and second-tier cities [1][6] Land Acquisition Trends - The top three companies in terms of newly added value from January to October are China Overseas with 1370 billion yuan, China Merchants with 1807 billion yuan, and Greentown with 1209 billion yuan [3][5] - The joint acquisition of the Xuhui East An urban renewal project by a consortium including China Overseas and China Merchants set a record for the highest total price for residential land transfer at 43.95 billion yuan [5][6] - The land acquisition strategy is focused on core cities, with state-owned enterprises and local state-owned enterprises being the main players, while private enterprises are primarily supplementing land reserves in specific regions [5][9] Market Dynamics - In October, several high-value land parcels were acquired through joint ventures, particularly in major cities like Shanghai and Beijing, indicating a continued interest in prime locations [6][8] - The average premium rate for residential land in Hangzhou reached 16%, while other regions like Wuhan showed weaker demand due to high inventory levels [8][9] - The land acquisition-to-sales ratio for the top 100 real estate companies was 0.29 from January to October, indicating a cautious approach to land purchases amid market uncertainties [9]