在巨额债务"历史包袱"有了实质性解决方案后，曾经的千亿房企旭辉于近期开启了组织架构大调整。 境外债方面，旭辉68.5亿美元（约合480亿元人民币）的债务重组已获法院批准，整体削债比例达 66%，预计削减52.7亿美元。 第一财经从相关知情人士处获悉，11月12日，旭辉集团于内部发文称，为保证组织精简高效，将撤销北 京区域集团及下属城市公司，新成立华北区域事业部，负责旭辉在北京、天津、河北、河南、陕西、山 西、东北三省的战略经营和业务发展。 人事任命方面，原旭辉集团副总裁兼北京区域集团总裁周长亮被调回集团总部任职，担任集团常务副总 裁，协助总裁处理集团事务。 周长亮毕业于西安建筑科技大学，2004年以管培生职位入职中海；2010年加入西安万科，担任营销市场 中心总经理；2015年8月加入金辉，担任西北区域总裁；2021年初入职旭辉，任西北区域总经理，2023 年12月升任旭辉集团副总裁兼北京区域集团总裁。 就在北京区域集团被撤销前数日，旭辉内部还发文撤销了苏皖区域集团、东南区域集团、华南区域集 团、上海区域事业部、长沙事业部及下属城市公司，组建成立了华东区域事业部、华南区域事业部。 华东区域事业部负责上海、浙江 ...

Group 1: Housing and Construction - Beijing's Housing and Urban-Rural Development Committee announced the completion of the 2025 affordable housing construction tasks, including 17 new projects with 19,800 units, 7 collection projects with 2,400 units, and 7 completed projects with 8,100 units [1] - The plan includes public rental housing, guaranteed rental housing, and various types of resettlement housing, with a total of 50,000 rental housing units planned for construction by 2025 [1] Group 2: Financial Updates - Shenzhen Metro Group provided a loan of up to 1.666 billion yuan to Vanke A for repaying bond principal and interest, with a loan term of no more than 3 years and an interest rate of 2.34% [2] - CIFI Holdings reported a contract sales amount of approximately 1.1 billion yuan in October, with a sales area of about 113,300 square meters and an average contract sales price of 10,100 yuan per square meter [3] - New City Holdings achieved a contract sales amount of approximately 1.419 billion yuan in October, a year-on-year decrease of 4.38%, with a sales area of about 191,500 square meters, down 9.37% year-on-year [4] - R&F Properties announced the restructuring of a domestic bond with a principal balance of approximately 1.68 billion yuan, which was approved in a bondholder meeting [5]

Core Insights - The real estate industry is accelerating its debt resolution process, with over 1 trillion yuan of debt being addressed this year, indicating a critical phase in risk clearance [1][2] - Debt restructuring is not merely a self-rescue for companies but a necessary step for restoring industry confidence [1][2] Debt Restructuring Complexity - Since the first real estate company default in 2020, the industry has faced unprecedented pressure on its credit system, with 44 companies defaulting in 2022 [2][3] - As of the end of October, 21 companies have completed debt restructuring, reducing the total debt burden by approximately 1.2 trillion yuan [2][3] - The complexity of debt restructuring is heightened by the diverse legal frameworks and the large scale of offshore debts [3] Balancing Stakeholder Interests - Companies are conducting pressure tests with intermediaries to create fair repayment plans that meet various creditor demands [4] - The negotiation process is complicated by the differing interests of creditors, including banks, hedge funds, and private banks [4] Types of Restructuring Options - Most restructuring plans include short-term cash buybacks, medium-term debt-to-equity swaps, and long-term bond exchanges [5] - Different creditor types have varying preferences, with banks favoring principal protection and non-standard debt holders seeking quicker exits [5][6] Industry Development Model Restructuring - Successful debt restructuring is leading to significant improvements in companies' balance sheets, indicating that the toughest times for the industry are passing [7] - Companies are encouraged to enhance their cash flow capabilities and focus on core cities for development, shifting towards lighter asset models [7][8] - The completion of debt restructuring is seen as a starting point for risk mitigation, allowing companies to regain operational capabilities and improve service quality [9]

北京商报讯（记者 王寅浩 李晗）11月11日，旭辉控股披露10月未经审核经营简报。简报显示，10月旭 辉控股合同销售金额约为11亿元，合同销售面积约为11.33万平方米，合同销售均价约为1.01万元/平方 米。公司股东权益应占合同销售金额约为5.4亿元。 ...

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]

格隆汇11月11日丨旭辉控股(00884.HK)公告，于2025年10月，集团录得(i)合同销售(连合营企业及联营 公司的合同销售)金额约人民币11.0亿元及合同销售面积约113,300平方米，(ii)合同销售均价*约人民币 10,100元╱平方米，及(iii)公司股东权益应占合同销售金额约人民币5.4亿元。 于2025年1月至10月，集团录得(i)累计合同销售(连合营企业及联营公司的合同销售)金额约人民币141.7 亿元及合同销售面积约1,361,000平方米，(ii)合同销售均价*约人民币10,900元╱平方米，及(iii)公司股东 权益应占合同销售金额约人民币72.4亿元。 ...

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]