FF301 呈交日期: 2026年4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) | 00978 | 說明 | 招商局置地 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 30,000,000,000 | HKD | | 0.01 | HKD | | 300,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | | | 本月底結存 | | | 30,000,000,000 | HKD | | 0.01 | HKD | | 300,000,000 | 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: 2026年3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: 招商局 ...

Financial Performance - The total revenue for the year ending December 31, 2025, was RMB 26,250,540, an increase of 27.5% from RMB 20,661,233 in 2024[3] - The gross profit for 2025 was RMB 1,659,423, compared to RMB 985,420 in 2024, reflecting a gross margin improvement[3] - The net loss for the year was RMB 2,127,805, compared to a net loss of RMB 1,689,630 in 2024, indicating a worsening financial performance[4] - The company reported a basic loss per share of RMB 44.87 for 2025, compared to RMB 37.73 in 2024, reflecting increased losses per share[4] - The group recorded a pre-tax loss of RMB 444,085 for the year ended December 31, 2025, compared to a pre-tax loss of RMB 1,165,461 in 2024, indicating an improvement in financial performance[22] - The group reported a net loss of RMB 170,541 for the consolidated results in 2025, an improvement from a net loss of RMB 807,519 in 2024[22] - The company reported a significant increase in expected credit loss provisions to RMB 70,104,000 in 2025 from RMB 334,610,000 in 2024[31][32] - The company incurred a total income tax expense of RMB 1,683,720,000 for 2025, significantly higher than RMB 524,169,000 in 2024[7] Assets and Liabilities - The total assets as of December 31, 2025, were RMB 72,271,871, down from RMB 87,145,623 in 2024[5] - The total liabilities decreased to RMB 54,552,064 in 2025 from RMB 59,607,005 in 2024, showing a reduction in financial obligations[5] - The company's equity attributable to owners decreased to RMB 5,736,484 in 2025 from RMB 8,021,863 in 2024, indicating a decline in shareholder value[8] - The group's net current assets as of December 31, 2025, were RMB 17,719,807,000, down from RMB 27,538,618,000 in 2024[77] - The total interest-bearing debt of the group as of December 31, 2025, was RMB 29,115,274,000, reduced from RMB 34,908,872,000 in 2024[77] - The net leverage ratio (net interest-bearing debt to equity) was 59% as of December 31, 2025, compared to 67% in 2024[78] Revenue Segments - The property division generated revenue of RMB 26,237,659 in 2025, compared to RMB 20,643,811 in 2024, marking an increase of about 27.2%[22] - The asset management division reported revenue of RMB 12,881 in 2025, down from RMB 17,422 in 2024, reflecting a decrease of approximately 26.5%[22] - The investment property rental income increased to RMB 294,054 in 2025 from RMB 251,239 in 2024, showing a growth of about 17.0%[18] - The group’s total revenue from customer contracts primarily originates from mainland China, with a significant portion of the asset management revenue being generated locally[18] Market Conditions - The real estate market in China faced significant downward pressure, with new residential sales area declining by 8.7% and sales value decreasing by 12.6% in 2025 compared to the previous year[49] - The company is strategically expanding its land reserves across multiple cities to enhance its market presence and future sales potential[56] - The focus on residential and mixed-use developments aligns with market demand trends, positioning the company for growth in the real estate sector[56] Development Projects - As of December 31, 2025, the company has 45 real estate development projects in cities including Guangzhou, Foshan, Chongqing, Xi'an, Nanjing, and Jurong, focusing on residential and mixed-use properties[56] - The total saleable area of unsold or pre-sold properties (land reserves) is 3,658,376 square meters[56] - The company has a total of 1,678,549 square meters of properties available for lease, indicating a strong rental income potential[62] - The company has sold 7,693,220 square meters of completed properties, achieving a sales rate of approximately 76%[62] Corporate Governance - The company has adopted a code of conduct for securities trading by directors, which is as stringent as the standards set out in the listing rules[99] - All directors confirmed compliance with the standards of the code for the year ending December 31, 2025[99] - The company is committed to maintaining high standards of corporate governance and transparency in its operations[97] - The board of directors includes both executive and independent non-executive directors, ensuring a diverse governance structure[102] Future Outlook - The group is currently evaluating the impact of adopting new accounting standards that will take effect in 2026 and 2027, which may affect financial reporting[17] - The company aims to focus on asset turnover and inventory reduction as a priority in response to macroeconomic trends[86] - The group plans to enhance its international development capabilities by exploring opportunities in overseas markets like Hong Kong[86] - The company has shifted its focus from scale expansion to quality living, aligning with macro policy requirements for risk prevention and supply optimization[85]

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。 CHINA MERCHANTS LAND LIMITED 招商局置地有限公司 （於開曼群島註冊成立之有限公司） （股份代號：978） 須予披露及關連交易 收購目標公司之股權 及 視作財務資助的潛在關連交易 股權轉讓協議 於二零二六年三月六日，西安茂安（本公司間接全資附屬公司）與武漢古田訂立股權轉 讓協議，據此（其中包括），武漢古田同意出售，而西安茂安同意收購目標公司100% 股權，代價為人民幣79,589,600元。完成後，目標公司將成為本公司間接全資附屬公 司。 視作財務資助 完成後，目標公司將成為本公司的間接全資附屬公司。因此，根據上市規則第14A 章，招商蛇口應向目標公司收取的未償還應收款項於完成後，可能構成本集團提供的 視作財務資助及本公司的關連交易。 –1– 上市規則之涵義 由於有關收購事項之所有適用百分比率中最高者（參照上市規則第14.07條計算）超過 5%但低於25%，故訂立股權轉讓協議及 ...

FF301 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: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 招商局置地有限公司 (於開曼群島註冊成立的有限責任公司) 呈交日期: 2026年3月2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) | 00978 | 說明 | 招商局置地 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 30,000,000,000 | HKD | | 0.01 HKD | | 300,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | | 本月底結存 | | | 30,000,000,000 | HKD | | 0.01 HKD | | 300,00 ...

Core Viewpoint - China Merchants Jinling (00978.HK) announced a board meeting scheduled for March 12, 2026, to consider and approve the release of the annual performance announcement for the year ending December 31, 2025, and to discuss any other matters, including the proposal for a final dividend distribution if applicable [1] Summary by Category - **Company Announcement** - The board meeting will focus on the approval of the annual performance announcement for the fiscal year ending December 31, 2025 [1] - The meeting will also address the potential proposal for a final dividend distribution [1] - Additional matters will be discussed during the board meeting [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之任何損失承擔任何責任。 董事會會議日期 招商局置地有限公司（「本公司」）董事會（「董事會」）謹此宣佈，將於二零二六年三月十 二日舉行董事會會議，藉以考慮及批准刊發本公司及其附屬公司截至二零二五年十二月 三十一日止年度之全年業績公告及建議派發末期股息（如有），以及處理任何其他事項。 承董事會命 招商局置地有限公司 主席 CHINA MERCHANTS LAND LIMITED 招商局置地有限公司 （於開曼群島註冊成立之有限公司） （股份代號：978） 朱文凱 香港，二零二六年二月二十七日 於本公告日期，董事會由非執行董事朱文凱先生、余志良先生及李堯先生；執行董事 蘇樹輝博士、黃競源先生及陳燕女士以及獨立非執行董事王永權博士、陳燕萍女士、 史新平博士及葉文祺先生組成。 ...

致：香港交易及結算所有限公司 公司名稱: 招商局置地有限公司 (於開曼群島註冊成立的有限責任公司) 呈交日期: 2026年2月5日 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: 2026年1月31日 狀態: 新提交 FF301 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) | 00978 | 說明 | 招商局置地 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 30,000,000,000 | HKD | | 0.01 HKD | | 300,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | | 本月底結存 | | | 30,000,000,000 | HKD | | 0.01 HKD | | 300,00 ...

Market Overview - The Hong Kong stock index experienced a "V" shaped movement, with the Hang Seng Index rising by 0.2% to 26,830.23 points, while the Hang Seng Tech Index fell by 1.32% to 5,453.46 points [1] - Major technology stocks declined, with Alibaba down 1.78%, Tencent down 3.09%, and JD Group down 0.45% [1] - Commercial aerospace stocks saw significant gains, with Asia Pacific Satellite rising over 9% [1] - Chinese brokerage stocks weakened, with CICC falling over 2% [1] - Gold and silver stocks rebounded, with WanGuo Gold rising over 6% and Luoyang Molybdenum up over 4% [1] Company News - Cloud Factory (02512.HK) secured a contract for the second phase of an AI industrial base project valued at RMB 520 million [2] - ZTE Corporation (00763.HK) plans to invest RMB 117 million in the Jianxing Zhanlu Fund to support innovation businesses and related industries [2] - XPeng Motors (09868.HK) delivered 20,011 new vehicles in January [3] - Laijin Entertainment (08172.HK) received authorization from Ant Group to become an official service provider for "Ant Treasure Box" [4] - Jun Dong Holdings (08277.HK) signed a timber harvesting and sales agreement with Jinda Forestry [5] - Universal Medical (02666.HK) plans to issue corporate bonds totaling up to RMB 1 billion [6] - Blue River Holdings (00498.HK) entered into a cooperation framework agreement with Energy Storage Investment Company [7] - China Merchants Jinling (00978.HK) reported a contract sales total of approximately RMB 32.308 billion for 2025, a year-on-year decrease of 23.91% [8] - Junsheng Tai Pharmaceutical (02511.HK) appointed Dr. Filip Surmont as Chief Medical Officer to strengthen its focus on cardiovascular and metabolic diseases [8] Institutional Insights - Huatai Securities noted a significant pullback in A-shares and Hong Kong stocks, driven by the "Wall Street" trading sentiment, leading to liquidity pressure [9] - The adjustment is seen as more technical and emotional, with a positive medium-term outlook for Chinese assets [9] - Galaxy Securities highlighted ongoing geopolitical risks and a decrease in expectations for Fed rate cuts, predicting continued volatility in Hong Kong stocks [9] - Recommended sectors include technology, energy, precious metals, and consumer stocks, which are expected to rebound as consumption policies increase ahead of the Spring Festival [9] - Huatai Securities indicated that the sentiment index has shifted from panic to optimism, suggesting that current volatility may persist but is more likely to be a pullback rather than a reversal [10]

Group 1 - Ugreen Technology has submitted its listing application to the Hong Kong Stock Exchange, with Huatai International as its sole sponsor. The company is a consumer electronics brand focusing on charging, smart office, smart audio-visual, and smart storage products, aiming to become the global leader in the tech consumer electronics market by shipment volume by 2025 [1] - JD Group's European online retail platform, Joybuy, is set to launch in March 2023, leveraging JD's supply chain and logistics capabilities to achieve same-day and next-day delivery in multiple cities across the UK during its trial operation [2] - China Merchants Shekou's contract sales for the year ending December 31, 2025, amounted to approximately RMB 32.308 billion, reflecting a significant year-on-year decrease of 23.91%. The average selling price was approximately RMB 24,918 per square meter [3] Group 2 - Citi has initiated coverage on Lin Qingxuan with an "Outperform" rating, highlighting the company's expansion into the high-end anti-aging and skin-tightening market, which is expected to grow at a compound annual growth rate of 18.9% from 2024 to 2029. The firm forecasts Lin Qingxuan's sales and adjusted net profit to grow at compound annual rates of 42% and 49%, respectively, from 2025 to 2027, with a target price of HKD 128.5 [4]

Major Events - Singularity Guofeng (01280) sold all shares of China Silver Ray (Hong Kong) Investment Holdings Limited at zero cost [1] - ZTE Corporation (00763) plans to invest 117 million yuan to subscribe to Jianxing Zhanlu Fund shares [1] - Cloud Factory (02512) subsidiary won the bid for the second phase of the artificial intelligence industry base project [1] - CSPC Pharmaceutical Group (01093) received drug registration approval for Chlorpheniramine Lactate Injection [1] - Derin Holdings (01709) reported a Bitcoin balance of 84.555 BTC as of January 31 [1] - Baiguoyuan Group (02411) diluted its stake in Baiguoyuan Commercial Management to 51.02%, with core management investing to enhance new business layout [1] Operating Performance - XPeng Motors-W (09868) delivered 20,011 new vehicles in January [1] - Ruipulan Jun (00666) issued a profit warning, expecting a net profit of approximately 630 million to 730 million yuan in 2025, turning from loss to profit [1] - China Merchants Jinling (00978) projected a total contract sales amount of approximately 32.308 billion yuan in 2025, a year-on-year decrease of 23.91% [1] - China National Building Material (03323) issued a profit warning, expecting a shareholder loss of approximately 2.3 billion to 4 billion yuan in 2025, turning from profit to loss [1]