Market Performance - The Hong Kong stock market continued to show weakness, with the Hang Seng Index down 0.43% to 25,324.75 points, the Hang Seng Tech Index down 0.68%, and the National Enterprises Index down 0.51% [1] - Major technology stocks exhibited mixed performance, with NetEase and Bilibili down over 1%, Tencent down 1%, while Meituan rose over 1% [1] - Precious metals performed strongly, with silver reaching a historical high and gold-related stocks rising, including Lingbao Gold which increased nearly 10% [1] - Shipping stocks declined, with Pacific Basin Shipping down 9.5% and Orient Overseas International down 5% [1] - The photovoltaic sector also fell, with China Metallurgical Group down 4.3% and other companies like Xinyi Solar and Flat Glass down over 3% [1] Company News - Datang New Energy reported a cumulative power generation of approximately 31.6521 million MWh in the first 11 months, an increase of 10.58% year-on-year [2] - Jiangshan Holdings reported a total solar power generation of approximately 279.78 thousand MWh in the first 11 months, a decrease of 5.61% year-on-year [3] - New City Development reported a cumulative contract sales amount of approximately 17.917 billion yuan in the first 11 months, a decrease of 51.53% year-on-year [4] - Longfor Group achieved a total contract sales amount of 59.39 billion yuan in the first 11 months [5] - CIFI Holdings reported a cumulative contract sales amount of approximately 15.1 billion yuan in the first 11 months [6] Institutional Insights - Dongwu Securities indicated that the Hong Kong stock market is still in a left-side phase, with a rebound needing to wait, but mid-term positioning appears attractive [12] - Huaxia Fund noted that the previous irrational panic in the tech sector has eased, and the future outlook for AI development is pragmatic with clear commercialization paths [12] - China International Capital Corporation highlighted that the recent weakness in the Hong Kong market is due to multiple factors including a declining credit cycle and liquidity pressure [13] - Everbright Securities mentioned that after a rebound in 2025, the current Hang Seng Index P/E ratio is above the past five-year average, indicating overall valuation repair but still within a reasonable range [13]

Major Events - HASHKEY HLDGS (03887) plans to conduct an IPO from December 9 to December 12, aiming to globally offer 241 million shares and has secured cornerstone investors including UBS AM Singapore [1] - Tuda Tong (02665) is set to list on December 10 with a share price of HKD 10 [1] - Federated Pharmaceuticals (03933) has received approval from the National Medical Products Administration for its moxifloxacin hydrochloride eye drops [1] - Shou Cheng Holdings (00697) has attracted investments from Beijing Robotics Fund and Shou Bao Fund for its subsidiary Yun Shen Chu Technology [1] - Botai Vehicle Link (02889) has been selected by a leading OEM in the new energy vehicle sector as a supplier for the next-generation smart car cockpit project [1] - Guangdong-Hong Kong-Macau Holdings (01396) subsidiary Tiandun Data has signed a strategic cooperation agreement with Huagong Technology (000988.SZ) [1] Operating Performance - China Life Insurance (02628) reported total premiums exceeding CNY 700 billion by the end of November [1] - Datang Renewable (01798) achieved a cumulative power generation of approximately 31.6521 million MWh in the first 11 months, representing a year-on-year increase of 10.58% [1] - Longfor Group (00960) recorded total contract sales of CNY 59.39 billion in the first 11 months [1] - China Jinmao (00817) reported a cumulative contracted sales amount of CNY 100.679 billion in the first 11 months, reflecting a year-on-year growth of 21.3% [1] - New Town Development (01030) reported a cumulative contract sales amount of approximately CNY 17.917 billion in the first 11 months, a year-on-year decrease of 51.53% [1] - CIFI Holdings Group (00884) achieved a cumulative contract sales amount of approximately CNY 15.1 billion in the first 11 months [1]

新城发展(01030)发布公告，于2025年11月，本集团实现合约销售金额约人民币14.48亿元，合约销售面 积约20.09万平方米。 于2025年11月，本集团房地产出租物业共178个，总建筑面积约1638.18万平方米;2025年11月份租金收入 约人民币10.78亿元，商业运营收入约人民币11.55亿元(即含税租金收入)。 2025年1月至11月累计租金收入约人民币119.90亿元，累计商业运营收入约人民币128.52亿元(即含税租 金收入)。 2025年1月至11月累计合同销售金额约人民币179.17亿元，同比减少51.53%，累计销售面积约235.16万 平方米。 ...

格隆汇12月9日丨新城发展(01030.HK)公布，于2025年11月，集团实现合约销售金额约人民币14.48亿 元，合约销售面积约20.09万平方米。2025年1月至11月累计合同销售金额约人民币179.17亿元，累计销 售面积约235.16万平方米。 ...

2025年1月至11月累计租金收入约人民币119.90亿元，累计商业运营收入约人民币128.52亿元(即含税租 金收入)。 2025年1月至11月累计合同销售金额约人民币179.17亿元，同比减少51.53%，累计销售面积约235.16 万 平方米。 于2025年11月，本集团房地产出租物业共178个，总建筑面积约1638.18万平方米;2025年11月份租金收入 约人民币10.78亿元，商业运营收入约人民币11.55亿元(即含税租金收入)。 智通财经APP讯，新城发展(01030)发布公告，于2025年11月，本集团实现合约销售金额约人民币14.48 亿元，合约销售面积约 20.09万平方米。 ...

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。 SEAZEN GROUP LIMITED 新城發展控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 責 任 公 司） *： 租 金 收 入 包 含 租 金、管 理 費、停 車 場、多 種 經 營 及 其 他 零 星 管 理 費 收 入。 **： 商 業 運 營 收 入 包 含 商 舖、辦 公 樓 及 購 物 中 心 的 租 金、管 理 費、停 車 場、多 種 經 營 及 其 他 零 星 管 理 費 收 入。 – 1 – （股 份 代 號：1030） 2025年11月未經審核營運統計數據 房地產出租情況 新城發展控股有限公司（「本公司」，連 同 其 子 公 司 統 稱「本集團」）董 事（「董 事」） 會（「董事會」）欣 然 公 佈，於2025年11月，本 集 團 房 地 產 出 租 物 業 共178個，總 建 築面積約1,638.18萬 ...

内房股集体下跌，截至发稿，中国海外宏洋集团(00081)跌8.48%，报2.05港元；绿城中国(03900)跌5%， 报8.36港元；新城发展(01030)跌2.31%，报2.11港元；融创中国(01918)跌1.55%，报1.27港元。 国盛证券（002670）此前发布研报称，1-11月TOP100房企拿地总额8478 亿元，同比增长14.1%，增幅较 1-10月大幅收窄。今年上半年，部分核心城市核心地段土地市场相对热度较高，结构性的成交带动了全 国土地市场出让金额的增长；但随着头部房企补库目标的达成以及下半年新房市场进一步走冷，年末房 企拿地积极性有所降低。 里昂也表示，开发商投资意愿低迷成为地产主要制约因素。数据显示，2025年前十月全国新开工面积仅 4.91亿平方米，商业物业开发投资同比下滑14.7%。里昂认为，销售端持续企稳是重建行业信心的关 键，预计2026年新开工面积降幅将收窄，全年商品房销售额同比降幅控制在4%以内。 ...

国盛证券此前发布研报称，1-11月TOP100房企拿地总额8478 亿元，同比增长14.1%，增幅较1-10月大幅 收窄。今年上半年，部分核心城市核心地段土地市场相对热度较高，结构性的成交带动了全国土地市场 出让金额的增长；但随着头部房企补库目标的达成以及下半年新房市场进一步走冷，年末房企拿地积极 性有所降低。 里昂也表示，开发商投资意愿低迷成为地产主要制约因素。数据显示，2025年前十月全国新开工面积仅 4.91亿平方米，商业物业开发投资同比下滑14.7%。里昂认为，销售端持续企稳是重建行业信心的关 键，预计2026年新开工面积降幅将收窄，全年商品房销售额同比降幅控制在4%以内。 智通财经APP获悉，内房股集体下跌，截至发稿，中国海外宏洋集团(00081)跌8.48%，报2.05港元；绿 城中国(03900)跌5%，报8.36港元；新城发展(01030)跌2.31%，报2.11港元；融创中国(01918)跌1.55%， 报1.27港元。 ...

Group 1 - The Hong Kong real estate stocks have seen a significant decline, with China Jinmao dropping nearly 9% and China Overseas Grand Oceans Group falling 8% [1] - Other notable declines include Zhongliang Holdings down over 5%, Greentown China down 4.77%, and several other companies like Longfor Group and Yuyuan Property down over 3% [1] - Morgan Stanley suggests a selective investment strategy, highlighting a clear risk differentiation in the Chinese credit market, with the TMT sector showing good quality while the real estate sector remains under severe pressure [1] Group 2 - The real estate market is not expected to stabilize until 2025, with ongoing declines in sales and investment [1] - Vanke's attempt to extend domestic bond maturities has led to significant drops in both offshore and onshore bond prices, raising concerns about the financing environment for private developers [1] - The effects of policy easing have been limited, and there remains substantial inventory pressure in the market [1]

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: 新城發展控股有限公司 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) | 01030 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | 10,000,000,000 | HKD | | 0.001 | HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | 10,000,000,000 | HKD | | 0.001 | HKD | | 10,000,000 | 本月底法定/註冊股本總額： HKD ...