(Incorporated in Bermuda with limited liability) ( 在百慕達註冊成立的有限公司 ) (Stock Code 股份代號: 754) 19 September 2025 Dear non-registered shareholder(s), Hopson Development Holdings Limited (the "Company") – Notice of Publication of 2025 Interim Report (the "Current Corporate Communication") Pursuant to Rule 2.07A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") under the expansion of paperless listing regime and electronic dissemination of corporate co ...

Dear registered shareholder(s), Hopson Development Holdings Limited (the "Company") – Notice of Publication of 2025 Interim Report (the "Current Corporate Communication") The Current Corporate Communication of the Company has been published in English and Chinese languages and is available on the website of The Stock Exchange of Hong Kong Limited ("HKEX") at http://www.hkexnews.hk and the Company's website at http://www.irasia.com/listco/hk/hopson. For the shareholders who have selected to receive the Compa ...

Financial Performance - The unaudited consolidated loss attributable to equity holders for the six months ended June 30, 2025, was approximately HK$1,732 million, with a basic and diluted loss per share of HK$0.46[10][12] - For the first half of 2025, the Group recorded a turnover of RMB 5,946 million (HK$6,471 million), a decrease of 53% compared to RMB 12,559 million (HK$13,809 million) in the same period of 2024[82] - The Group's loss before taxation for the period was HK$1,307,777,000, with a total loss for the period amounting to HK$1,722,523,000[161] - The company reported a loss attributable to equity holders of HK$1,732,167,000 for the six months ended June 30, 2025, compared to a profit of HK$1,072,878,000 for the same period in 2024[197] - The company reported a fair value loss on investment properties of HK$382,046,000 in 2025, compared to a gain of HK$524,931,000 in 2024[183] Revenue Breakdown - Revenue from the commercial segment was approximately HK$2,215 million as of June 30, 2025, reflecting the brand's growing influence in the industry[38] - Property development contributed HK$2,794 million to the group's revenue, accounting for 43% of total sales[103] - Revenue from property development for the six months ended June 30, 2025, was HK$2,793,813, a decrease of 71.7% compared to HK$9,889,808 in 2024[171] - Revenue from commercial properties investment was HK$2,214,539, slightly down by 1.7% from HK$2,251,973 in the previous year[171] - Property management income increased to HK$709,368, up 8.3% from HK$654,965 in 2024[171] Sales and Market Conditions - Contracted sales for the Group reached RMB7,928 million, with regional sales of RMB3,809 million in the Yangtze River Delta, RMB1,925 million in the Guangdong-Hong Kong-Macao Greater Bay Area, and RMB2,194 million in the Bohai Rim Economic Zone[16][18] - The average selling price of contracted property sales was RMB25,070 per square meter, indicating strong demand for high-end improvement products[16][18] - In the first half of 2025, commercial housing transactions showed signs of improvement, with the year-on-year decline in sales narrowing, particularly in the secondary market[30] - The overall decline in market prices has narrowed, with some cities experiencing price increases, indicating a stabilization in the real estate market[31] - The year-on-year decline in funds received by real estate development enterprises decreased by 16.4 percentage points compared to the same period last year, with domestic loans increasing by 0.6% year-on-year[34] Asset Management and Investments - The Group's land bank as of June 30, 2025, was 26.56 million square meters, sufficient for future development needs[19][21] - The commercial segment's land bank totaled approximately 7.10 million sq.m., with 6.74 million sq.m. located in first-tier cities, accounting for 95% of the total[45] - The Group's investment segment focuses on equity investments in high-and-new technology, targeting medium-to-long term capital returns[65] - The Group's financial assets at fair value through other comprehensive income reached HK$1,902 million, while financial assets at fair value through profit or loss amounted to HK$937 million in the first half of 2025[66] - The Group plans to utilize structured notes and share options to balance investment income and market risks effectively[73] Operational Efficiency - The Group's strategy includes actively cooperating with the government on urban redevelopment to avoid high land premiums[19][21] - The Group is committed to enhancing its operational management of commercial assets through technology and smart solutions, aiming for sustainable development of heavy asset projects[47] - The Group's strategy includes enhancing internal management efficiency and cost control to maintain core competitiveness[64] - The Group plans to shift from traditional tenant management to incubation, focusing on establishing large-scale pan-entertainment product lines in rural regions[44] - The Group's focus on high-end improvement products and strong sales of rigid demand products contributed to overall sales performance[16][18] Financial Position - As of June 30, 2025, total assets amounted to HK$256,677 million and total liabilities were HK$157,697 million, remaining largely unchanged from December 31, 2024[108] - The current ratio as of June 30, 2025, was 1.60, slightly down from 1.61 as of December 31, 2024[108] - The Group's liability-to-asset ratio was 61% as of June 30, 2025, compared to 62% as of December 31, 2024[109] - Cash and bank balances decreased to HK$8,425 million as of June 30, 2025, from HK$11,398 million as of December 31, 2024[110] - Total borrowings from banks and financial institutions decreased by 6% to HK$69,812 million as of June 30, 2025, compared to December 31, 2024[111] Challenges and Future Outlook - Despite a slowdown in consumer spending, the Group's sales volume, customer traffic, and occupancy rate remained stable during the economic downturn[40] - The Group is actively negotiating with lenders for debt restructuring plans and renewal of certain borrowings[151] - The directors believe that, with the planned measures, the Group will have sufficient working capital to meet its financial obligations within the next twelve months[147] - The Group's cash flow projections cover a period of not less than twelve months from June 30, 2025[147] - The favorable conditions for China's economic development are expected to outweigh the unfavorable factors, maintaining a trend of stable and improving growth[35]

Core Insights - The company, Hopson Development Holdings, reported its unaudited operational data for the eight months ending August 31, 2025, indicating a total contract sales amount of approximately RMB 9.902 billion [1] - The property contract sales accounted for about RMB 8.854 billion, while renovation contract sales were around RMB 1.048 billion [1] Sales Performance - For the month of August 2025, the total contract sales amounted to approximately RMB 855 million, with property contract sales at about RMB 735 million and renovation contract sales at around RMB 120 million [1] - The total area sold under property contracts for the first eight months of 2025 was approximately 370,100 square meters, with an average selling price of about RMB 23,920 per square meter [1] Project Management - The total contract sales area for non-self-invested properties managed under the Hopson brand was approximately 47,600 square meters, with a contract sales amount of about RMB 4.236 billion [1]

Major Events - Alibaba-W (09988) announced the pricing of $3.2 billion zero-coupon convertible preferred notes, with an initial conversion price of $193.15 per American depositary share [1] - Peijia Medical-B (09996) reported the first human clinical trial implantation of the Sutra Hemi-valve transcatheter mitral valve repair system [1] - Corning Jereh Pharmaceutical-B (09966) received acceptance from the National Medical Products Administration for the new drug application of KN026 (Anni monoclonal antibody injection) [1] - Nissin Foods (01475) invested 30.68 million yuan to acquire two plots of land in Zhuhai for the construction of new production facilities [1] - Nocoda Technology (00519) signed a cooperation agreement for low-altitude economic intelligent drones [1] Financial Data - Country Garden Holdings (00754) reported total contract sales of approximately 9.902 billion yuan for the first eight months, a year-on-year decrease of 15.56% [1] - China General Nuclear Power Corporation (01811) completed a power generation of 1,543.7 GWh in August, a year-on-year decrease of 5.7% [1] - Xinte Energy (00956) achieved a cumulative power generation of 9.8787 million MWh in the first eight months, a year-on-year increase of 10.55% [1] - Oceanwide Holdings (03377) reported a cumulative contracted sales amount of approximately 16.44 billion yuan for the first eight months, a year-on-year decrease of 25.88% [1]

Company News - New天绿色能源 (00956.HK) reported a power generation of 9.8787 million MWh in the first eight months, an increase of 10.55% year-on-year; August's power generation was 784.8 thousand MWh, up 23.53% year-on-year [2] -远洋集团 (03377.HK) recorded a contract sales amount of 16.44 billion yuan in the first eight months, a decrease of 25.9% year-on-year; August's contract sales were approximately 1.7 billion yuan, down 17.5% year-on-year [2] - 合生创展集团 (00754.HK) reported a contract sales amount of approximately 9.902 billion yuan in the first eight months, a decrease of 15.6% year-on-year; August's contract sales were about 334 million yuan, down 38.4% year-on-year [2] - 越秀交通基建 (01052.HK) reported a cumulative toll revenue of approximately 603 million yuan for the Guangzhou North Second Ring Expressway in the first seven months, a decrease of 0.7% year-on-year [2] - 华油能源 (01251.HK) entered into a financing lease agreement with Zhongguancun Science and Technology Leasing [2] - 日清食品 (01475.HK) plans to invest 30.68 million yuan to acquire land in Zhuhai for new production facilities [2] - 鲁大师 (03601.HK) subscribed to a structured deposit product from China Merchants Bank, involving 50 million yuan [2] - 越秀地产 (00123.HK) plans to obtain a term loan financing of 200 million HKD [2] - 康宁杰瑞制药-B (09966.HK) had its new drug application for KN026 (Anituzumab injection) accepted by the National Medical Products Administration [2] Buyback Activities - 腾讯控股 (00700.HK) repurchased 874,000 shares at a cost of 550 million HKD, with repurchase prices ranging from 624 to 633 HKD [2] - 汇丰控股 (00005.HK) spent approximately 108 million HKD to repurchase about 1.041 million shares, with repurchase prices between 102.8 and 104.3 HKD [2] - 恒生银行 (00011.HK) repurchased 210,000 shares at a cost of approximately 24.882 million HKD, with repurchase prices from 117.9 to 119.2 HKD [2] - 百胜中国 (09987.HK) repurchased about 57,900 shares at a cost of approximately 20.2 million HKD, with repurchase prices between 347 and 351.8 HKD [2] - 石四药集团 (02005.HK) repurchased 6 million shares at a cost of approximately 18.143 million HKD, with repurchase prices ranging from 2.98 to 3.04 HKD [2] - 美高梅中国 (02282.HK) repurchased 1 million shares at a cost of 16.2463 million HKD, with repurchase prices between 16.04 and 16.45 HKD [3] Power Generation Data - 中广核新能源 (01811.HK) reported a power generation of approximately 12,850.5 GWh in the first eight months, a decrease of 1.6% year-on-year; August's power generation was 1,543.7 GWh, down 5.7% year-on-year [4]

Core Viewpoint - The company reported a total contract sales amount of approximately RMB 99.02 billion for the eight months ending August 31, 2025, indicating a strong performance in both property and renovation contracts [1] Group 1: Total Contract Sales - The total contract sales amount for the month of August 2025 was approximately RMB 8.55 billion, with property contract sales contributing around RMB 7.35 billion and renovation contract sales about RMB 1.20 billion [1] - For the eight months ending August 31, 2025, the average selling price of property contracts was approximately RMB 23,920 per square meter, with a total sales area of about 370,149 square meters [1] Group 2: Non-Self-Invested Properties - The total contract sales area for non-self-invested properties managed under the "He Sheng" brand was approximately 47,591 square meters, with a contract sales amount of about RMB 42.36 billion for the eight months ending August 31, 2025 [1] - In August 2025, the contract sales area for properties managed under the "He Sheng" brand was approximately 4,193 square meters, with a contract sales amount of around RMB 3.34 billion [1]

Summary of Key Points Core Viewpoint - The company reported a significant decline in total contract sales for the period ending August 31, 2025, indicating challenges in the market and potential impacts on future performance [1]. Group 1: Financial Performance - Total contract sales amount for the company and its joint ventures and associates was approximately RMB 9.902 billion, a year-on-year decrease of 15.56% [1]. - For the month of August 2025, total contract sales were about RMB 855 million, reflecting a substantial year-on-year decline of 38.44% [1]. - Property contract sales accounted for approximately RMB 8.854 billion, while renovation contract sales were around RMB 1.048 billion for the eight-month period [1]. Group 2: Sales Metrics - The total area of property contract sales was approximately 370,149 square meters, with an average selling price of about RMB 23,920 per square meter [1]. - For the month of August 2025, the area of property contract sales was around 4,193 square meters, with sales amounting to approximately RMB 334 million [1]. Group 3: Brand Performance - The company managed non-self-invested properties under the "He Sheng" brand, achieving total contract sales area of approximately 47,591 square meters and contract sales amounting to about RMB 4.236 billion [1]. - In August 2025, the contract sales area for properties managed under the "He Sheng" brand was approximately 4,193 square meters, with a sales amount of around RMB 334 million [1].

Core Viewpoint - The company reported a significant decline in total contract sales for the eight months ending August 31, 2025, with a year-on-year decrease of 15.56% to approximately RMB 9.902 billion [1] Group 1: Total Contract Sales - For the eight months ending August 31, 2025, the total contract sales amount was approximately RMB 9.902 billion, with property contract sales around RMB 8.854 billion and renovation contract sales about RMB 1.048 billion [1] - In August 2025 alone, the total contract sales were approximately RMB 855 million, reflecting a year-on-year decrease of 38.44% [1] Group 2: Property Sales Performance - The total property contract sales area for the eight months ending August 31, 2025, was approximately 370,149 square meters, with an average selling price of about RMB 23,920 per square meter [1] - For August 2025, the property contract sales amounted to approximately RMB 735 million [1] Group 3: Managed Properties - The total contract sales area for non-self-invested properties managed under the "He Sheng" brand for the eight months ending August 31, 2025, was approximately 47,591 square meters, with a contract sales amount of about RMB 4.236 billion [1] - In August 2025, the contract sales area for properties managed by He Sheng was approximately 4,193 square meters, with a sales amount of around RMB 334 million [1]

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 發表聲明，並明確表示概不會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之任何損失承 擔任何責任。 （ 在百慕達註冊成立的有限公司） 承董事會命 合生創展集團有限公司 主席 （股份代號：754） 網址︰http://www.irasia.com/listco/ hk/ hopson 截至2025年8月31日止8個月未經審核營運數據 合生創展集團有限公司（「本公司」，連同其附屬公司，「本集團」）董事會（「董事會」）宣佈， 截至2025年8月31日止8個月，本集團及其合營公司及聯營公司之總合約銷售金額為約人民 幣99.02 億元；其中物業合約銷售約 人民幣88.54億元；裝 修合約銷售約人民幣10.48 億元。 就2025年8月單月而言，本集團及其合營公司及聯營公司之總合約銷售金額為約人民幣8.55 億元，其中物業合約銷售約人民幣7.35億元；及裝修合約銷售約人民幣1.20億元。截至2025 年8月31日止8個月，本集團及其合營公司及聯營公司之物業合約銷售面積為約370,149平方 米，物業合約銷售平均售價為 ...