Company Information [Board of Directors](index=5&type=section&id=Board%20of%20Directors) This section lists the Board of Directors of Mingfa Group (International) Company Limited, including executive, non-executive (and Chairman), and independent non-executive directors - Executive Directors include Mr. Wu Wen Feng and Ms. Shang Xuan[10](index=10&type=chunk) - Dr. Lam Ka Lai serves as the Non-executive Director and Chairman of the Board[10](index=10&type=chunk) - Independent Non-executive Directors include Mr. Liu Jian Han, Mr. Zhu Jian Hong, and Mr. Chen Cheng Li[10](index=10&type=chunk) [Committees](index=5&type=section&id=Committees) This section details the composition of the company's key committees, including the Audit, Nomination, Remuneration, and Risk Management Committees, along with their members and chairpersons - The Audit Committee is chaired by Mr. Zhu Jian Hong, with members Mr. Liu Jian Han and Mr. Chen Cheng Li[10](index=10&type=chunk) - The Nomination Committee is chaired by Mr. Chen Cheng Li, with Ms. Shang Xuan appointed as a member and Mr. Liu Jian Han resigning, both effective June 24, 2025[10](index=10&type=chunk) - The Remuneration Committee is chaired by Mr. Liu Jian Han, with members Mr. Zhu Jian Hong and Mr. Chen Cheng Li[10](index=10&type=chunk) - The Risk Management Committee is chaired by Mr. Chen Cheng Li, with members Mr. Liu Jian Han and Mr. Zhu Jian Hong[10](index=10&type=chunk) [Contact and Professional Advisors](index=5&type=section&id=Contact%20and%20Professional%20Advisors) This section provides the company's main contact information and professional advisor details, including the company secretary, registered office, principal place of business, stock code, principal bankers, and auditors - The Company Secretary is Mr. Poon Wing Chuen[10](index=10&type=chunk) - The Company's website is http://www.ming-fa.com, and its stock code on The Stock Exchange of Hong Kong Limited (Main Board) is 846[11](index=11&type=chunk) - The auditors are BDO Limited, Hong Kong[12](index=12&type=chunk) Financial Highlights The Group's revenue for the six months ended June 30, 2025, decreased by **28.6%** year-on-year, turning from profit to a loss attributable to owners of the Company of approximately **RMB 273.1 million**, with basic and diluted loss per share of **RMB 4.5 cents** [Financial Highlights for the Six Months Ended June 30, 2025](index=7&type=section&id=Financial%20Highlights%20for%20the%20Six%20Months%20Ended%20June%2030%2C%202025) | Metric | 2025 (RMB million) | 2024 (RMB million) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 2,725.7 | 3,815.4 | (28.6)% | | Loss/Profit attributable to owners of the Company | (273.1) | 6.7 | (4,196.8)% | | Basic and diluted loss/earnings per share (RMB cents) | (4.5) | 0.1 | (4,600.0)% | Management Discussion and Analysis The Group faced severe market challenges in the first half of 2025, experiencing significant declines in revenue and profitability primarily due to reduced property delivery area and lower gross profit margins; while initial signs of recovery emerged in China's residential property market, developer debt and oversupply issues persist, the Group continues to implement prudent financial principles and focus its business on the Yangtze River Delta region [Performance Overview](index=8&type=section&id=Performance%20Overview) The Group's revenue for the first half of 2025 decreased by **28.6%** year-on-year, turning from profit to a loss attributable to owners of the Company of approximately **RMB 273.1 million**, with basic and diluted loss per share of **RMB 4.5 cents**, and the Board does not recommend an interim dividend [Performance Overview for the First Half of 2025](index=8&type=section&id=Performance%20Overview%20for%20the%20First%20Half%20of%202025) | Metric | 2025 (RMB million) | 2024 (RMB million) | Change | | :--- | :--- | :--- | :--- | | Consolidated Revenue | 2,725.7 | 3,815.4 | decreased 28.6% | | Loss/Profit attributable to owners of the Company | (273.1) | 6.7 | decreased by approximately **4.2 times** | | Basic and diluted loss/earnings per share (RMB cents) | (4.5) | 0.1 | decreased by **4.6 times** | - The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2025[16](index=16&type=chunk) [Industry Review](index=8&type=section&id=Industry%20Review) In the first half of 2025, China's residential property market showed initial signs of recovery after a sharp decline in 2024, with a **30% increase** in new home sales volume, but prices fell by approximately **5%** year-on-year, and developer debt and oversupply issues remain - China's residential property market showed initial signs of recovery in the first half of 2025, driven by lower mortgage rates and government incentives, with new home sales volume increasing by **30%**[17](index=17&type=chunk) - Property prices fell by approximately **5%** year-on-year, affecting both luxury and mass-market segments; rental yields increased by **5%**, attracting investors amid ongoing market uncertainty[17](index=17&type=chunk) - Despite persistent developer debt issues and housing oversupply, policy support and stabilizing interest rates are helping to restore some market confidence, laying the groundwork for a gradual recovery in the second half of the year[17](index=17&type=chunk) [Business Review](index=9&type=section&id=Business%20Review) The Group's revenue and gross profit significantly declined in the first half of 2025, primarily due to reduced total gross floor area delivered and a decrease in gross profit margin; fair value losses on investment properties increased, but net other income turned positive due to higher gains from disposal of investment properties, while selling and marketing costs and general and administrative expenses both decreased [Sales and Profitability Overview for the First Half of 2025](index=9&type=section&id=Sales%20and%20Profitability%20Overview%20for%20the%20First%20Half%20of%202025) | Metric | 2025 (RMB million) | 2024 (RMB million) | Change | | :--- | :--- | :--- | :--- | | Consolidated Revenue | 2,725.7 | 3,815.4 | (28.6)% | | Attributable GFA delivered (square meters) | 418,551.9 | 551,939.1 | decreased | | Gross profit margin | 23.6% | 31.9% | decreased | | Consolidated Gross Profit | 642.2 | 1,219.0 | (47.3)% | | Fair value loss on investment properties | 396.6 | 259.1 | increased | | Net other income | 149.2 | (39.3) | turned positive | | Selling and marketing costs | 199.2 | 226.6 | (12.1)% | | General and administrative expenses | 254.0 | 308.5 | (17.7)% | | Interest expense on borrowings (including capitalized interest) | 43.7 | 58.9 | (25.8)% | | Consolidated loss attributable to owners of the Company | 273.1 | 6.7 (profit) | decreased **4.2 times** | | Average selling price per square meter (RMB) | 5,493.6 | 6,146.1 | (10.6)% | [Contracted Sales](index=10&type=section&id=Contracted%20Sales) The Group's contracted sales value for the first half of 2025 decreased by **17.2%** year-on-year, and the average selling price also declined [Contracted Sales Data for the First Half of 2025](index=10&type=section&id=Contracted%20Sales%20Data%20for%20the%20First%20Half%20of%202025) | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Contracted sales value (RMB million) | 1,423.0 | 1,718.8 | (17.2)% | | Average contracted selling price (RMB/square meter) | 6,223.0 | 6,385.0 | (2.5)% | [Properties Pre-sold](index=11&type=section&id=Properties%20Pre-sold) As at June 30, 2025, the Group's total attributable gross floor area of properties pre-sold but not yet delivered was **652,928 square meters**, a decrease from the end of 2024 - As at June 30, 2025, the total attributable gross floor area of properties pre-sold but not yet delivered to buyers was **652,928 square meters**, a decrease from **823,507 square meters** as at December 31, 2024[24](index=24&type=chunk) - Pre-sold properties are primarily located in Shenyang, Changsha, Jinzhai, Zhangzhou, Wujiang, Quanzhou, Nanjing, Hefei, Nan'an, Xiamen, and other cities[24](index=24&type=chunk) [Land Bank Summary](index=12&type=section&id=Land%20Bank%20Summary) As at June 30, 2025, the Group's total attributable land bank decreased by **7.4%** to approximately

Core Viewpoint - Mingfa Group (00846.HK) is expected to report a loss of approximately RMB 200 million to RMB 300 million for the six months ending June 30, 2025, compared to a profit of approximately RMB 6.7 million for the same period ending June 30, 2024 [1] Group Summary - The anticipated loss is primarily attributed to valuation losses on investment properties and a decrease in revenue during the reporting period [1] - The decline in investment property valuation is mainly due to the overall drop in market value of commercial properties in China [1]

Core Viewpoint - Mingfa Group (00846) anticipates a loss of approximately RMB 200 million to 300 million in the first half of 2025, while expecting a profit of about RMB 6.7 million in the first half of 2024 [1] Financial Performance - The board attributes the expected loss during the reporting period primarily to valuation losses on investment properties and a decrease in revenue [1] - For the six months ending June 30, 2025, the decline in investment property valuation is mainly due to the overall drop in market value of commercial properties in China [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，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 於本公告日期，本公司仍在對本集團報告期間之中期業績進行最終確認。本公告所 載資料僅為董事會依據本集團報告期間的未經審核綜合管理賬目及最新目前可獲得 之資料而作出之初步評估，有關賬目尚未經董事會審核委員會確認，並可能會有調 整。務請本公司股東及潛在投資者仔細閱讀本公司報告期間之中期業績公告，預期 有關公告將於2025年8月底前刊發。 （於開曼群島註冊成立的有限公司） （股份代號：00846） 盈利警告 本公告乃由明發集團（國際）有限公司（「本公司」，連同其附屬公司統稱「本集團」）根 據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)(a)條及香港法例 第571章證券及期貨條例第XIVA部之內幕消息條文（定義見上市規則）而作出。 本公司董事（「董事」）會（「董事會」）謹此通知本公司股東及潛在投資者，根據對本集 團截至2025年6月30日止六個月（「報告期間」）的未經審核綜合管理賬目之初步審 ...

Group 1 - The company Mingfa Group (00846.HK) has announced a board meeting scheduled for August 29, 2025, to be held at Plaza 88, 30th Floor, Room B, 88 Yang Wo Road, Tsuen Wan, Hong Kong [1] - The purpose of the board meeting includes considering and approving the unaudited interim results for the six months ending June 30, 2025, for the company and its subsidiaries [1] - The board will also consider the declaration of an interim dividend, if any [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，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 於本公告日期，董事會包括： 執行董事： 伍文峯先生及尚軒女士 非執行董事： Mingfa Group (International) Company Limited 明 發 集 團（ 國 際 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：00846） 董事會會議通告 明發集團（國際）有限公司（「本公司」）之董事會（「董事會」）茲通告謹定於2025年8月 29日（星期五）於香港荃灣楊屋道88號Plaza 88 30樓B室舉行董事會會議，目的為（其 中包括）考慮及批准本公司及其附屬公司截至2025年6月30日止六個月的未經審核中 期業績，及考慮派付中期股息（如有）。 承董事會命 明發集團（國際）有限公司 公司秘書 潘永存 香港，2025年8月14日 林家禮博士（董事會主席） 獨立非執行董事： 劉建漢先生、朱健宏先生及陳成禮先生 ...

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7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: 明發集團（國際）有限公司 呈交日期: 2025年8月1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) | 00846 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 12,000,000,000 | HKD | | 0.1 | HKD | | 1,200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 12,000,000,000 | HKD | | 0.1 | HKD | | 1,200,000,000 | 本月 ...

Group 1 - The core announcement is that Mingfa Group (00846) has submitted board change applications for two of its Chinese subsidiaries to local regulatory authorities, awaiting approval [1] - The restructuring of the board at the subsidiary level will be completed once the relevant local authorities issue the necessary approvals [1]

明发集团(00846)发布公告，于本公告日期，其余2间中国附属公司已向地方负责监管机构提呈其董事变 更申请，等待批准。附属公司层面的董事会建议重组事宜将于地方机构签发相关批文后完成。 ...

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，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Mingfa Group (International) Company Limited 明 發 集 團（ 國 際 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：00846） 本集團中國附屬公司董事會重組之進展情況 茲提述本公司日期為2021年2月26日、2021年3月31日、2021年4月30日、2021年5月 31日、2021年6月30日、2021年7月30日、2021年8月31日、2021年9月27日、2021年 11月3日、2021年11月30日、2021年12月31日、2022年1月31日、2022年2月28日、 2022年3月31日、2022年4月29日、2022年5月31日、2022年6月30日、2022年7月29 日、2022年8月31日、2022年9月30日、2022年10月31日、2022年11月30日、2022年 12月30日、2023年1月31日、2023年2月2 ...