Core Points - CIFI Holdings Group (00884) reported a contract sales amount of approximately RMB 1.1 billion and a contract sales area of about 113,300 square meters for October 2025, with an average contract sales price of approximately RMB 10,100 per square meter [1] - For the period from January to October 2025, the company achieved a cumulative contract sales amount of approximately RMB 14.17 billion and a contract sales area of about 1.361 million square meters, with an average contract sales price of approximately RMB 10,900 per square meter [1] - The company's attributable contract sales amount to shareholders was approximately RMB 540 million for October 2025 and approximately RMB 7.24 billion for the cumulative period from January to October 2025 [1]

Core Insights - CIFI Holdings Group (00884) reported a contract sales amount of approximately RMB 1.1 billion and a sales area of about 113,300 square meters for October 2025, with an average contract sales price of approximately RMB 10,100 per square meter [1] - For the period from January to October 2025, the company achieved cumulative contract sales of approximately RMB 14.17 billion and a sales area of about 1.361 million square meters, with an average contract sales price of approximately RMB 10,900 per square meter [1] - The company's attributable contract sales amount to shareholders is approximately RMB 540 million for October 2025 and approximately RMB 7.24 billion for the January to October 2025 period [1] Summary by Category Contract Sales Performance - In October 2025, the total contract sales amounted to approximately RMB 1.1 billion, with a sales area of around 113,300 square meters [1] - Cumulative contract sales from January to October 2025 reached approximately RMB 14.17 billion, covering a total area of about 1.361 million square meters [1] Pricing Metrics - The average contract sales price for October 2025 was approximately RMB 10,100 per square meter [1] - The average contract sales price for the January to October 2025 period was approximately RMB 10,900 per square meter [1] Shareholder Attributable Sales - The contract sales amount attributable to shareholders for October 2025 was approximately RMB 540 million [1] - For the January to October 2025 period, the attributable contract sales amount to shareholders was approximately RMB 7.24 billion [1]

Core Viewpoint - CIFI Holdings (00884.HK) reported significant contract sales figures for October 2025, indicating a stable performance in the real estate market despite broader economic conditions [1] Group 1: October 2025 Performance - The company recorded contract sales amounting to approximately RMB 1.1 billion and a sales area of about 113,300 square meters [1] - The average contract sales price was approximately RMB 10,100 per square meter [1] - The equity attributable to shareholders from contract sales was around RMB 540 million [1] Group 2: Cumulative Performance (January to October 2025) - The cumulative contract sales for the period reached approximately RMB 14.17 billion, with a total sales area of about 1,361,000 square meters [1] - The average contract sales price during this period was approximately RMB 10,900 per square meter [1] - The equity attributable to shareholders from cumulative contract sales was about RMB 7.24 billion [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。 CIFI Holdings (Group) Co. Ltd. 旭 輝 控 股（ 集 團 ）有 限 公 司 * 不包括停車位及儲藏室 承董事會命 旭輝控股（集團）有限公司 主席 林中 香港，二零二五年十一月十一日 （股份代號：00884） （債務股份代號：05261、40464、40519、40681、40682） 二零二五年十月的未經審核營運數據 旭輝控股（ 集團 ）有限公司（「本公司」）董事會（「董事會」）公佈本公司及其附屬公司 （「本集團」）就二零二五年十月的若干未經審核營運數據如下： 上述數據未經審核，乃根據本集團初步內部資料編製，鑒於收集該等銷售資料過 程中存在各種不確定因素，該等數據與本公司按年度或半年度刊發的經審核或未 經審核綜合財務報表中披露的數字可能存在差異。因此，上述數據僅供投資者參 考。投資者買賣本公司證券時務須謹慎行 ...

Core Viewpoint - CIFI Holdings has initiated a new round of organizational restructuring to streamline its operations and focus on core regions, reflecting a strategic shift towards a "light asset, low debt, high quality" model [2][3] Group 1: Organizational Restructuring - CIFI Holdings has dissolved several regional groups and established new ones, specifically the East China and South China regional divisions, to enhance strategic management and business development [2] - The new organizational structure now includes East China, South China, Beijing, West China, and Shandong platforms, indicating a move from a "dispersed" to a "concentrated" structure [2] Group 2: Strategic Shift - The restructuring aligns with CIFI Holdings' future transformation goals, moving away from a "high leverage, high debt, high turnover" model to focus on three core areas: rental income, self-operated development, and real estate asset management [2] - The company aims to benchmark against international firms like Blackstone and plans to achieve a turnaround within three years [2] Group 3: Sales Performance - For the first three quarters of the year, CIFI Holdings reported a cumulative contract sales amount of 13.06 billion yuan and a contract sales area of approximately 1.2477 million square meters, with an average contract sales price of 11,000 yuan per square meter [3] - The equity attributable to shareholders from contract sales amounted to 6.7 billion yuan [3] Group 4: Debt Restructuring - CIFI Holdings has successfully passed resolutions for its offshore debt restructuring at a special shareholder meeting, which includes issuing mandatory convertible bonds to significantly reduce debt and optimize capital structure [3] - The major shareholder's previous loan of over 500 million Hong Kong dollars will also be converted into equity, and a 10-year equity incentive plan for the team has been introduced to stabilize and motivate the team post-restructuring [3]

Core Insights - CIFI Holdings has initiated a new round of organizational restructuring to streamline its operations and focus on core regions [1][2] - The restructuring involves the dissolution of several regional groups and the establishment of East China and South China regional divisions, indicating a shift from a decentralized to a more centralized structure [2] - The company aims to transition from a high-leverage, high-debt model to a low-leverage, high-quality approach, focusing on rental income, self-operated development, and real estate asset management [2] Organizational Changes - The East China regional division will oversee strategic operations in Shanghai, Zhejiang, Jiangsu, Fujian, Anhui, and Jiangxi, while the South China division will manage Guangdong, Hunan, Hubei, Guangxi, and Hainan [2] - The new organizational structure now includes East China, South China, Beijing, West China, and Shandong platforms, reflecting a strategic contraction and deeper focus on core areas [2] Financial Performance - For the first three quarters of the year, CIFI Holdings reported a cumulative contract sales amount of 13.06 billion yuan and a contract sales area of approximately 1.2477 million square meters, with an average contract sales price of 11,000 yuan per square meter [2] Debt Restructuring - On October 31, CIFI Holdings announced that its overseas debt restructuring resolutions were approved at a special shareholder meeting, which includes issuing mandatory convertible bonds for significant debt reduction and optimizing capital structure [3] - The major shareholder's previous loan of over 500 million Hong Kong dollars will be converted into equity, and a 10-year team equity incentive plan will be launched to stabilize and motivate the team during the recovery phase post-restructuring [3]

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 FF301 致：香港交易及結算所有限公司 公司名稱: 旭輝控股(集團)有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年11月4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) | 00884 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.1 HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | 30,000,000,000 | | | HKD | | 3,000,000,000 | | 本月底結存 | | | 50,000,000,000 | HK ...

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。 CIFI Holdings (Group) Co. Ltd. 旭 輝 控 股（ 集 團 ）有 限 公 司 （於開曼群島註冊成立的有限公司） 茲提述旭輝控股（ 集團 ）有限公司（「本公司」）日期為二零二五年十月十六日之通函 （「該通函」）及日期為二零二五年十月十六日用以召開本公司股東特別大會（「股東 特別大會」）之通告（「該通告」）。除另有界定者外，本公告所用詞彙與該通函所界 定者具有相同涵義。 董事會欣然公佈，載於該通告內的所有建議決議案（「該等決議案」）已於股東特別 大會上以投票方式獲正式通過。該等決議案的投票表決結果如下： | | | | | | | | | | 普通決議案 | | | | | | | | | | | | | 票數(% ) | | | --- | --- | --- | --- | --- | --- | --- | ...

Core Insights - The real estate companies in distress have made substantial progress in debt restructuring, with a total debt reduction scale of approximately 1.2 trillion yuan as of October 30, involving 21 companies [1] - The restructuring efforts are expected to alleviate short-term debt repayment pressures and facilitate a safer operational environment for these companies, thereby accelerating the overall risk clearance process in the real estate sector [1][2] Group 1: Debt Restructuring Progress - As of October 30, 21 distressed real estate companies have received approval for debt restructuring, with a total debt scale nearing 2 trillion yuan [1] - Companies such as Sunac China Holdings, Guangzhou R&F Properties, and CIFI Holdings have completed their debt restructuring, while others like Kaisa Group and Country Garden have received approval for overseas debt restructuring [1] - The restructuring methods employed include debt-to-equity swaps, asset swaps, and full-term extensions, significantly reducing the debt burden for many companies [2] Group 2: Impact on Industry and Companies - The concentration of debt restructuring among distressed companies indicates a faster risk clearance in the industry, which is beneficial for the overall credit environment [2] - Post-restructuring, many companies are accelerating their delivery processes and shifting their strategic focus towards light asset businesses such as property management and asset management [2][3] - The transition from incremental development to stock asset management is seen as a reasonable path for companies to revitalize resources and improve operational efficiency [3] Group 3: Future Outlook - The development of light asset businesses is expected to be a crucial support for distressed companies to overcome challenges, as operational efficiency and service capabilities become more important than capital scale [3] - Companies that successfully complete debt restructuring and enhance their operational efficiency are likely to achieve stable operations and sustainable development, contributing to a healthier and more stable real estate market [3]

Core Insights - Several large real estate companies have announced significant breakthroughs in debt restructuring, with Sunac China leading the way in this process [1][2][6] Group 1: Sunac China's Debt Restructuring - Sunac China reported that 98.5% of creditors voted in favor of its offshore debt restructuring plan, corresponding to a debt amount support rate of 94.5%, thus achieving the necessary majority for approval [1][6] - The restructuring plan covers approximately $9.55 billion in offshore debt, including various types of bonds and loans, aiming to completely resolve the company's debt risks [4][10] - If successful, the restructuring could reduce Sunac China's overall repayment pressure by nearly 70 billion yuan and save tens of millions in interest expenses annually [6] Group 2: Other Companies' Restructuring Efforts - CIFI Holdings announced a special shareholders' meeting on October 31 to review its offshore debt restructuring actions, indicating it is close to finalizing its restructuring [1][7] - Country Garden plans to hold two creditor meetings on November 5 to consider and approve its proposed debt arrangements [1][9] - According to statistics, three companies, including Sunac China, CIFI Holdings, and Longfor Group, have either completed or are close to completing their debt restructuring, with a total of 11 companies achieving some form of debt restructuring this year [9][10] Group 3: Market Context and Trends - The acceleration of debt restructuring among real estate companies is attributed to various factors, including creditors' adjusted expectations for debt recovery, which now favor restructuring over liquidation [9][10] - The restructuring strategies have shifted from merely alleviating liquidity pressures to substantial adjustments in debt scale, utilizing methods such as debt-to-equity swaps and asset disposals [10][12] - Major shareholders have provided significant financial support during this restructuring wave, further aligning their interests with the companies' futures [11][12]