Core Viewpoint - The overall performance of real estate companies in 2025 continues to show a bottoming trend, with some companies experiencing significant recovery in their performance. The proportion of companies with year-on-year performance growth is 24%, with 12 companies achieving growth rates exceeding 30% [1][4]. Group 1: Market Performance - The real estate market in 2025 maintains a bottoming trend, with overall sales remaining at low levels. There are 10 companies with sales exceeding 100 billion yuan, 13 companies with sales between 30-100 billion yuan, 42 companies with sales between 10-30 billion yuan, and 35 companies with sales below 10 billion yuan [2]. - Among the 10 companies with sales over 100 billion yuan, only one company, China Jinmao, reported performance growth. In the 13 companies with sales between 30-100 billion yuan, three companies reported growth: Greenland Holdings, China State Construction East, and Bangtai Group [8]. Group 2: Company Performance - A total of 224 companies reported year-on-year performance growth, with 24 companies showing growth. Notably, Bangtai Group's performance surpassed 30 billion yuan for the first time, with a significant year-on-year increase of 79.7% [4][5]. - The companies with the highest sales and their respective year-on-year growth rates include: - Kerry Properties: 227.87 billion yuan, 1646.5% - Jiangshan Wanli Real Estate: 174.50 billion yuan, 731.3% - Fuzhou Jianfa: 88.90 billion yuan, 92.9% - Shanghai Construction: 92.75 billion yuan, 80.6% - Bangtai Group: 303.54 billion yuan, 79.7% [5]. Group 3: State-Owned vs. Private Enterprises - Central state-owned enterprises performed relatively well, with 42.9% of them reporting performance growth. In contrast, only 15.2% of private enterprises and 12.5% of mixed-ownership enterprises reported growth [9][13]. - The proportion of performance growth among various types of real estate companies shows a clear differentiation, with state-owned enterprises leading in growth rates compared to private and mixed-ownership enterprises [13].

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，概不對任何就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責任。 China Jinmao Holdings Group Limited 茲提述中國金茂控股集團有限公司（「本公司」）日期為2025年12月23日的公告 （「該公告」），內容有關出售本公司於三亞旅業100%股權（「出售事項」）的須予披 露的交易。除文義另有所指外，本公告所用詞彙與該公告所界定者具有相同涵 義。本公司謹此提供有關出售事項之財務影響及所得款項用途的進一步資料。 根據出售事項之最終轉讓總對價人民幣2,264.6百萬元與三亞旅業於2025年3月31 日之經審核淨資產約人民幣691.29百萬元之間的差額，本公司預期將錄得出售事 項之收益約人民幣1,573.31百萬元（稅前）。本公司將自出售事項錄得之實際收益 須以本公司經審核合併財務報表為準。所得款項淨額（經扣除所有相關開支）預計 約為人民幣2,259.73百萬元。本集團擬將該等所得款項用於未來可能的合適投資 （包括參與未來的土地購買及開發、併購優 ...

Core Insights - The luxury housing market in first-tier cities is experiencing significant growth, particularly in Shanghai, where sales of high-end properties have surged in 2025, with total sales exceeding 100 billion yuan [3][4][5] - In Guangzhou, the luxury market is also thriving, with the Poly Yuexi Bay project achieving a record sales figure of approximately 106 billion yuan on its opening day [2][21] - Shenzhen's luxury market has seen remarkable sales, with three major projects collectively generating nearly 300 billion yuan, indicating strong demand and high prices [3][17][19] Shanghai Market Overview - In 2025, Shanghai's luxury residential market has shown a clear structural differentiation, with over 1,300 units sold at prices above 40 million yuan, totaling over 800 billion yuan [4][5] - The average price for luxury properties in Shanghai is significantly higher than in other cities, with the top projects achieving average prices exceeding 6 million yuan per unit [7][9] - The market is characterized by a concentration of high-value transactions, with Shanghai contributing 59.4% of the total sales of new homes priced above 30 million yuan across 30 major cities [6] Beijing Market Overview - Beijing's luxury market has seen a supply of 6,240 units priced above 15 million yuan, with a year-on-year increase in transaction volume of 10.6% [11][16] - The recent auction of land in Beijing yielded a total of approximately 1,427.42 billion yuan, reflecting strong demand and high premium rates [12] - The introduction of new high-end projects, such as the Anlan Beijing, is expected to further stimulate the market, with prices ranging from 15.4 million to 18 million yuan per square meter [13][16] Shenzhen Market Overview - Shenzhen's luxury market concluded 2025 with impressive sales figures, particularly with the launch of the CITIC Xinyue Bay project, which achieved over 100 billion yuan in sales within two hours [17][19] - The average transaction price for luxury units in Shenzhen has reached record levels, with some units selling for as high as 38 million yuan per square meter [17] - The upcoming supply of luxury properties in Shenzhen is expected to continue, with several key projects set to launch in 2026 [20] Guangzhou Market Overview - Guangzhou's luxury market has seen a significant increase in transactions, with over 6,000 units sold at prices exceeding 10 million yuan, marking a 42% year-on-year increase [20][21] - The Poly Yuexi Bay project has set a new benchmark for sales in Guangzhou, with total sales reaching 110.89 billion yuan [21] - The market is shifting towards high-end products that cater to affluent buyers, reflecting a change in consumer demand from basic needs to improved living standards [23][24]

Core Viewpoint - China Jinmao (00817.HK) announced that holders of its $500 million subordinated guaranteed perpetual capital securities, issued by Fangxing Guangyao Co., Ltd. on February 8, 2021, have chosen to redeem all securities on the first reset date of February 8, 2026, at a redemption price of $500 million plus any accrued distributions [1] Group 1 - The company has provided an unconditional and irrevocable guarantee for the $500 million subordinated guaranteed perpetual capital securities [1] - As of the announcement date, the outstanding principal amount of the securities is $500 million [1] - Upon completion of the redemption on the first reset date, there will be no issued but outstanding securities [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。本公告僅供參考，並不構成收購、購買或認購證 券的邀請或要約。 本公告並不構成或作為於美國或其他地方提呈發售證券或招攬購買或認購證券的一部份。本公 告所述證券概無及將不會按照1933年美國證券法，經修訂（「證券法」）登記，（若干情況例外） 亦不得在美國境內提呈發售或出售，惟獲豁免證券法登記規定或毋須遵守證券法登記規定的交 易除外。證券（定義如下）僅會遵照證券法S規例在美國境外發售。 China Jinmao Holdings Group Limited 中國金茂控股集團有限公 司 （於香港註冊成立的有限公司） （股票代號：00817） 本公告乃由中國金茂控股集團有限公司（「本公司」）自願發佈。 本公司謹此通知經方興光耀有限公司於2021年2月8日發行並由本公司無條件及不 可撤回地提供擔保的500,000,000美元次級擔保永久資本證券（「證券」）之持有人， 其已選擇於2026年2月8日（「首個重設日期」）贖 ...

Core Viewpoint - The opening of Chengdu Metro Line 13 and Line 30 marks a significant milestone for urban transit and serves as a test for the real estate market, particularly for projects like Dongcheng Jinmao Xiaotang, which reflects the current market's value reassessment [1][3]. Group 1: Project Performance - Dongcheng Jinmao Xiaotang achieved remarkable sales, with its first phase selling out 1,700 units in just six months, a rare feat in the current sluggish real estate market [5][6]. - The project's sustained sales performance indicates a strong appeal to homebuyers, particularly those seeking improved living conditions, amidst a cautious market environment [5][6]. Group 2: Development Strategy - The project is backed by China Jinmao, which focuses on a clear product strategy rather than sheer scale, positioning itself as a "lifestyle provider" in the high-end residential market [6][8]. - The "Tang Series" of products targets the new middle-class demographic, emphasizing long-term living experiences and functional diversity [8][54]. Group 3: Urban Development Context - Dongcheng Jinmao Xiaotang is part of the "Dongcheng PARK5747" area, included in a national urban renewal project aimed at enhancing urban functionality and spatial structure [10][12]. - The area is strategically located to connect key transportation hubs and is set to undergo significant development, with a total investment of approximately 36.8 billion yuan for the "Dongcheng Jindai" project [10][12]. Group 4: Competitive Advantage - The project utilizes a "joint development" model to overcome land fragmentation issues, allowing for a larger scale and better resource allocation [13][15]. - Public spaces are designed for high-frequency use, catering to various age groups and lifestyles, which enhances the living experience [22][30]. Group 5: Product Innovation - The second phase of Dongcheng Jinmao Xiaotang features innovative designs that improve space efficiency, such as a 123% usable area rate for 136㎡ units, enhancing the living experience [37][41]. - The project incorporates modern layouts that promote interaction between public and private spaces, addressing the needs of families [39][41]. Group 6: Market Insights - The success of Dongcheng Jinmao Xiaotang highlights the importance of "certainty" in the current real estate market, driven by national planning and reliable product offerings [55][57]. - The project serves as a model for how to achieve better living conditions in a challenging market environment, reflecting a broader trend in the industry [55][57].

1 （一） 以董事會成員多元化為基本政策，至少每年檢討董事會的架構、人數及 組成；協助董事會編製董事會技能表；以客觀條件（包括技能、知識、 經驗、性別、年齡等因素）考慮人選，並就任何為配合公司策略而擬對 董事會做出的變動提出建議； （二） 物色具備合適資格可擔任董事的人士，並挑選提名有關人士出任董事或 就此向董事會提供意見； （三） 研究董事、高級管理人員的選擇標準和程序，並向董事會提出建議； （四） 對董事候選人和高級管理人員人選進行審查並提出建議； （五） 評核獨立非執行董事的獨立性； （六） 就董事委任或重新委任以及董事（尤其是主席及總裁）繼任計劃的有關事 宜向董事會提出建議； （七） 為公司定期評估董事會表現提供支持； （八） 就董事及高級管理人員的全體薪酬政策及架構，及就設立正規而具透明 度的程序制訂此等薪酬政策，向董事會提出建議； （九） 獲董事會轉授責任釐定每位執行董事及高級管理人員的薪酬待遇，包括 金錢利益、非金錢利益、退休金權利及賠償金額（包括喪失或終止職務 或委任的賠償）；就其他執行董事的薪酬建議諮詢主席及 ╱ 或總裁，如 有需要，可尋求獨立專業意見；及就非執行董事的薪酬待遇向董事會提 出 ...

薪酬及提名委員會職權範圍 中國金茂控股集團有限公司 （於香港註冊成立之有限公司） 2 薪酬及提名委員會職權範圍如下： （十一） 應考慮同類公司支付的薪酬、履行職責須付出的時間以及本公司及其附 屬公司其他職位的僱用條件等因素； （十二） 釐定評估執行董事及高級管理人員表現的準則，評核執行董事及高級管 理人員的表現，如有需要，可尋求專業協助及意見； （十三） 檢討及批准向執行董事及高級管理人員就其喪失或終止職務或委任而須 支付的賠償，以確保該等賠償與合約條款一致；若未能與合約條款一 致，賠償亦須公平合理，不致過多； （十四） 檢討及批准因董事行為失當而解僱或罷免有關董事所涉及的賠償安排， 以確保該等安排與合約條款一致；若未能與合約條款一致，有關賠償亦 須合理適當； （十五） 確保任何董事或其任何聯繫人不得參與釐定其自身薪酬； （十六） 根據董事會授權，審閱、檢討及╱或批准股票期權計劃下具體授予之條 款及條件； （十七） 董事會授權的其他事宜。 1 （一） 以董事會成員多元化為基本政策，至少每年檢討董事會的架構、人數及 組成；協助董事會編製董事會技能表；以客觀條件（包括技能、知識、 經驗、性別、年齡等因素）考慮人選 ...

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，概不對任何就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責任。 China Jinmao Holdings Group Limited 中國金茂控股集團有限公 司 （於香港註冊成立的有限公司） （股票代號：00817） 董事會謹此宣佈，於2025年12月29日，鷹茂地產與全海及平嘉投資訂立新框架協 議，據此，鷹茂地產將在新框架協議之期限內繼續向全海及平嘉投資（或其各自 指定的實體）提供借款。新框架協議將自2025年12月30日起生效，並取代原框架 協議，其有效期至2026年12月31日止。 公告 持續關連交易 提供借款 茲提述本公司日期為2024年12月27日的公告，內容有關本公司間接非全資附屬 公司鷹茂地產與其股東全海及平嘉投資訂立的原框架協議，據此，鷹茂地產同 意按照全海及平嘉投資所持鷹茂地產的股權比例，並根據相同的條款與條件向 全海及平嘉投資（或其各自指定的實體）提供借款。原框架協議將於2025年12月 31日屆滿。 董事會謹此宣佈，於2025年12月29日 ...

Core Insights - The article highlights the success of Dongcheng Jinmao Xiaotang in the Chengdu real estate market, achieving remarkable sales figures despite a challenging market environment in 2025 [1][2][40]. Sales Performance - Dongcheng Jinmao Xiaotang achieved 14 successful sales events within 7 months, selling over 1,700 units and generating approximately 5 billion yuan in sales [1][4]. - The project maintained a 100% sales rate during its initial launch, with over 2,200 visitors and 800 units sold on the first day [6][9]. Market Context - The Chengdu new housing market has seen a decrease in both supply and transaction volume, with a trend towards higher-priced projects, creating a "cold and hot" market dynamic [2][12]. - Despite a slowdown in overall market transactions, Dongcheng Jinmao Xiaotang continued to perform strongly, with its second phase also selling out quickly [6][9]. Unique Selling Propositions - The project features a "high aesthetic" design that appeals to younger demographics, with a focus on community aesthetics and high-quality living standards [12][13]. - It offers a "full-age friendly community" concept, catering to the needs of various age groups, including children, youth, and seniors [17][22]. Strategic Initiatives - The project includes a commercial street, "Yili Prosperity," designed to enhance regional value and address local commercial shortcomings [12][15]. - Innovative marketing strategies, such as online engagement and community activities, have attracted significant attention and participation [29][36]. Collaborative Model - Dongcheng Jinmao Xiaotang operates under a collaborative model involving government and enterprise partnerships, which provides both policy support and market vitality [40]. - The project has benefited from strategic urban planning and infrastructure improvements in the surrounding area, enhancing its appeal [42][45]. Investment Strategy - The company has demonstrated a commitment to the region by acquiring multiple plots and maintaining a strong investment rhythm, which supports its market leadership [45][52]. - The focus on delivering high-quality, affordable housing has positioned Dongcheng Jinmao Xiaotang as a market leader, addressing the demand for lower-priced, quality homes [49][52].