Group 1 - The core viewpoint of the announcement is that China Merchants Jinling (00978.HK) reported a total contract sales amount of approximately RMB 32.308 billion for the year ending December 31, 2025, with a total contract sales area of about 1.2966 million square meters [1] - The average selling price for the year is approximately RMB 24,918 per square meter [1] - For the period from October to December 2025, the company achieved a contract sales amount of approximately RMB 6.646 billion, with a total sales area of about 302,000 square meters [1] Group 2 - The average selling price during the October to December 2025 period is approximately RMB 22,004 per square meter [1]

招商局置地有限公司 （於開曼群島註冊成立之有限公司） 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 承董事會命 招商局置地有限公司 主席 朱文凱 香港，二零二六年二月二日 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。 （股份代號：978） –2– 截至二零二五年十二月三十一日止年度之 未經審核營運數據 招商局置地有限公司（「本公司」）董事會（「董事會」）謹此公佈本公司及其附屬公司 （「本集團」）連同其聯營公司及合營公司之若干未經審核營運數據。 截至二零二五年十二月三十一日止年度，本集團連同其聯營公司及合營公司獲得合同銷 售總額約為人民幣32,308百萬元，而合同銷售總面積約為1,296,558平方米。截至二零二 五年十二月三十一日止年度之平均售價約為每平方米 ...

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: 2025年12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1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 | | 0 | | 本月底結存 | | | 30,000,000,000 | HKD | | 0.01 HKD | | 300 ...

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: 2025年11月30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: 2025年12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 | | 0 | | 本月底結存 | | | 30,000,000,000 | HKD | | 0.01 HKD | | 30 ...

Core Viewpoint - China Merchants Jinling (00978) announced the transfer of 100% equity of Nanjing China Merchants Qisheng Real Estate Co., Ltd. from CITIC Securities to Nanjing Zhaoping for a value of RMB 259 million, as part of an asset-backed securities plan [1][2] Group 1 - The equity transfer agreement was signed on November 20, 2025, between Nanjing Zhaoping and CITIC Securities, with CITIC acting as the plan manager for the asset-backed securities [1] - The project company, established on August 4, 2024, focuses on real estate project construction and development on a site of 66,000 square meters in Nanjing, Jiangsu Province [1] - The land designated for residential use has a term of 70 years, while the commercial use term is 40 years [1] Group 2 - The primary reason for the equity acquisition is the expiration of the asset-backed securities plan and CITIC Securities' decision to proceed with the final physical distribution to Nanjing Zhaoping [2] - The company is considering timely adjustments to the usage of the commercial complex to align with local government plans for community development, aiming to create a new high-quality commercial environment that fits local consumer patterns [2]

Core Viewpoint - China Merchants Jinling (00978.HK) announced the acquisition of 100% equity in Nanjing China Merchants Qisheng Real Estate Co., Ltd. from CITIC Securities for RMB 259 million, as part of an asset-backed securities plan [1] Group 1: Transaction Details - The agreement was signed on November 20, 2025, between Nanjing Zhaoping (an indirect non-wholly-owned subsidiary of the company) and CITIC Securities, acting as the asset-backed securities plan manager [1] - The project company primarily engages in real estate project construction and development on a site located in Qixia District, Nanjing, with a total area of 65,998.44 square meters [1] - The land is designated for residential use for 70 years and commercial use for 40 years [1] Group 2: Strategic Rationale - The acquisition is driven by the expiration of the asset-backed securities plan and CITIC Securities' decision to distribute the physical assets to Nanjing Zhaoping [1] - The company is considering timely adjustments to the usage of the commercial complex to align with local government plans for community development, aiming to create a new quality commercial environment that fits local consumer patterns [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。 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） 須予披露交易 收購項目公司之股權 股權受讓協議 於二零二五年十一月二十日，南京招平（本公司之間接非全資附屬公司）與中信証券訂 立股權受讓協議，據此，中信証券（作為資產支持專項計劃之計劃管理人，代表資產 支持證券持有人行事）同意轉讓項目公司100%股權（作為資產支持專項計劃項下之實 物分派）予南京招平，價值為人民幣259,236,960.10元。 上市規則之涵義 由於有關受讓之一項或多項適用百分比率（定義見上市規則）超過5%但低於25%，故 訂立股權受讓協議及其項下擬進行之交易構成上市規則項下本公司之須予披露交易， 因此須遵守上市規則第14章項下之申報及公告規定。 –1– 茲提述本公司日期為二零二二年九月八日及二零二二年九月二十三日之公告，內容有關 （其中包括）南京招平認購 ...

Core Insights - The real estate industry is experiencing a wave of executive changes, particularly among state-owned enterprises and major players [2][8] - Recent leadership adjustments are seen as a response to changes in the real estate sales market and the need for companies to adapt their operational strategies [2][8] Executive Changes - On November 14, China Merchants Shekou announced the resignation of Jiang Tiefeng as non-executive director and chairman, with Zhu Wenkai appointed as his successor [3] - On November 13, Longfor Properties announced the resignation of Chairman Li Wenjiang due to work adjustments, with Zhao Changsong temporarily taking over [6] - Five Mining Real Estate also reported the resignation of He Jianbo as chairman, with Dai Pengyu appointed as acting chairman [6] Market Dynamics - Since September, several leading real estate companies, including China Merchants Shekou, Vanke, and China Resources Land, have disclosed significant personnel changes [2][8] - The adjustments are primarily concentrated in key positions such as chairman, vice chairman, and general manager, driven by work reallocations and personal reasons [8][9] Cross-Group Movements - Recent trends indicate a "cross-group flow" of executives, with notable appointments such as Xu Rong becoming chairman of China Resources Land after previously serving in various roles within the group [10] - The movement of executives across different sectors is aimed at leveraging diverse management experiences to enhance operational efficiency and strategic alignment [12] Strategic Implications - The ongoing changes reflect a broader shift in the industry as it transitions from rapid expansion to a focus on refined operations, resource integration, and risk management [13] - State-owned enterprises are proactively restructuring their leadership to better position themselves for future growth opportunities in urban renewal and asset management [13]

Core Insights - The real estate industry is experiencing a wave of executive changes, particularly among state-owned enterprises and major players [1][5][6] - Recent adjustments in leadership are seen as a response to changes in the real estate sales market and the need for companies to adapt their operational strategies [1][5][6] Group 1: Executive Changes - On November 14, China Merchants Shekou announced the resignation of Jiang Tiefeng from his roles as non-executive director and chairman, with Zhu Wenkai appointed as his successor [1] - On November 13, Dalong Real Estate reported that Chairman Li Wenjiang resigned due to work adjustments, with Zhao Changsong appointed as acting chairman [3] - Five Mining Real Estate also announced leadership changes on the same day, with He Jianbo resigning and Dai Pengyu appointed as acting chairman [3] Group 2: Market Adaptation - The frequency of executive changes has increased as the year-end approaches, indicating a shift in corporate strategies in response to market conditions [1][5] - According to Yan Yujin from Shanghai Yiju Real Estate Research Institute, these personnel adjustments reflect the need for companies to align with market changes and internal operational adjustments [1][5] Group 3: Central State-Owned Enterprises - Central state-owned enterprises are at the forefront of these leadership changes, with key positions such as chairman and general manager being affected [5][6] - The adjustments are often due to work reallocations and personal reasons, highlighting the higher scrutiny and requirements for performance in these enterprises [6] Group 4: Cross-Group Movements - Recent trends show an increase in cross-group movements among executives, such as Xu Rong's appointment as chairman of China Resources Land after previously serving in various roles within the group [8] - The movement of executives like Wu Bingqi from China State Construction to China Overseas Land and Investment is aimed at leveraging cross-sector management experience to enhance business integration [8][9] Group 5: Industry Transformation - The real estate sector is transitioning from rapid expansion to a focus on refined operations, resource integration, and risk management, with state-owned enterprises leading this transformation [9] - The new generation of executives is expected to drive change and adapt to the evolving market landscape, reflecting a strategic shift in organizational and talent structures [9]

Group 1 - The company announced the resignation of Mr. Jiang Tiefeng as a non-executive director and chairman of the board, effective from November 14, 2025 [1] - Mr. Zhu Wenkai has been appointed as the new non-executive director, chairman of the board, and chairman of the nomination committee [1]