于2025年8月，集团房地产出租物业共176个，总建筑面积约1,622.50万平方米；2025年8月份租金收入* 约人民币11.19亿元，商业运营收入约人民币11.94亿元(即含税租金收入)。 2025年1月至8月累计租金收入*约人民币87.13亿元，累计商业运营收入约人民币93.38亿元(即含税租金 收入)。 格隆汇9月8日丨新城发展(01030.HK)然公布，于2025年8月，集团实现合约销售金额约人民币15.76亿 元，合约销售面积约19.88万平方米。 2025年1月至8月累计合同销售金额约人民币135.66亿元，累计销售面积约174.78万平方米。 ...

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） （股 份 代 號：1030） 2025年8月未經審核營運統計數據 於2025年8月，本 集 團 房 地 產 出 租 物 業 共176個，總 建 築 面 積 約1,622.50萬 平 方 米； 2025年8月份租金收入*約人民幣11.19億 元，商 業 運 營 收 入**約人民幣11.94億 元 （即 含 稅 租 金 收 入）。 2025年1月 至8月累計租金收入*約人民幣87.13億 元，累 計 商 業 運 營 收 入**約 人 民 幣93.38億 元（即 含 稅 租 金 收 入）。 *： 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 ...

Core Viewpoint - The real estate industry is under pressure but is transitioning towards a new growth model, focusing on quality properties and diversified business operations to enhance resilience and navigate upcoming debt peaks [1][2][6]. Financial Performance - In the first half of the year, 286 listed real estate companies reported a total revenue of 1.85 trillion yuan and a net profit of 851.77 billion yuan, with 89 companies incurring losses totaling 191.2 billion yuan [1][2]. - The decline in performance is attributed to a significant drop in project settlement scale and low gross margins, alongside asset impairment provisions to mitigate long-term inventory risks [2]. Strategic Focus on Quality Properties - Companies are adopting a "good house" strategy to drive future growth, with a focus on high-quality projects in core urban areas [2][3]. - For instance, Yuexiu Property's average selling price rose to 42,100 yuan per square meter, significantly above the industry average, demonstrating a successful sales strategy during the adjustment period [2]. Diversification into Operational Businesses - Many leading companies are developing operational businesses as a second growth curve, with examples like China Resources Land achieving 21.7% of total revenue from operational income [4][5]. - Dragon Lake Group reported record revenue from its operational services, indicating a successful dual-driven model of development and operations [5]. Debt Management and Financial Resilience - The industry is facing a debt peak in the second half of 2025, with a total debt maturity of 530.1 billion yuan, necessitating proactive debt management strategies [7][8]. - Companies like Greentown China have improved their cash-to-short-term debt ratio to 2.9 times, enhancing financial safety, while also reducing financing costs significantly [8][9]. Market Adaptation and Future Outlook - The financing environment is improving, particularly for quality companies, which are expected to stabilize through a combination of steady development, strong operations, and controlled debt [10].

Core Insights - The real estate market is undergoing significant adjustments and structural changes, facing increased challenges and pressures, while the trend of asset tokenization is becoming clearer, with initial breakthroughs in the RWA (Real World Assets) tokenization exploration in the real estate sector [2][4] Group 1: Industry Developments - Greenland Group's subsidiary, Greenland (Asia) Securities, received approval for digital asset-related licenses from the Hong Kong Securities and Futures Commission in July [4] - New City Development Holdings announced the establishment of a digital asset research institute in August, aiming to raise approximately HKD 49.4 million for strategic layout in the RWA field [2][4] - The global RWA market is projected to exceed USD 16 trillion by 2030, with a rapid growth forecast, reaching USD 26.7 billion by August 2025 [3] Group 2: Company Strategies - New City Development plans to establish a digital asset management company focusing on three key areas: issuing NFTs based on its unique IP, tokenizing asset revenues from its properties, and exploring the tokenization of financial assets like convertible bonds [4][5] - The company aims to complete the registration and platform construction of its digital asset management company by the end of 2025, with the first batch of NFT digital collectibles expected to be launched [5] Group 3: Market Context and Challenges - The establishment of New City Development's digital asset research institute is a strategic response to favorable policy trends and market opportunities, supported by various government initiatives to promote the digital economy [6] - Despite the proactive moves by real estate companies, the current digital asset business has not yet generated significant revenue, and there are uncertainties regarding regulatory clarity and market acceptance of asset tokenization [6] Group 4: Financial Performance - In the first half of 2025, New City Development reported revenues of CNY 22.174 billion and a net profit of CNY 0.692 billion, with a notable increase in commercial operations revenue by 11.78% [8] - The company's average borrowing cost decreased by 0.18 percentage points to 5.84%, and its financing cost net fell by 11.9% to CNY 1.378 billion, attributed to reduced borrowing interest and exchange losses [8]

房企分化明显，头部房企强者恒强态势突出，8月TOP40房企中48%实现环比正增，前十房企中八家房 企实现环比正增长，其中中海地产、绿城中国、华发股份、招商蛇口等环比增幅显著。从8月单月操盘 口径销售金额来看，绿城中国最高为195.0亿元，其次为招商蛇口、中海地产、保利发展、华润置地。 (格隆汇) | 代码 | 名称 | 最新价 | 涨跌幅 ^ | | --- | --- | --- | --- | | 02202 | 万科企业 | 5.260 | -2.23% | | 03383 | 雅居乐集团 | 0.440 | -2.22% | | 00123 | 越秀地产 | 4.770 | -2.25% | | 01030 | 新城发展 | 2.400 | -2.04% | | 01109 | 本润量期 | 30.400 | -1.94% | | 03900 | 绿城中国 | 9.310 | -1.79% | | 03377 | 远洋集团 | 0.117 | -1.68% | | 01908 | 建发国际集团 | 17.190 | -1.55% | | 00813 | 世茂集团 | 0.320 | -1.54% | ...

Core Viewpoint - New City Development Holdings Limited is actively transforming into the digital asset sector, focusing on Real World Assets (RWA) and establishing a digital asset research institute to enhance its business model and capitalize on market opportunities [1][2][3] Group 1: Strategic Moves - On September 1, New City Development announced a share issuance to Blockchain Metaverse Academy Pty Ltd at approximately HKD 2.58 per share, raising about HKD 49.4 million for RWA strategic deployment [1] - The company aims to leverage its partnership with Blockchain Metaverse Academy to reduce risks and costs associated with exploring RWA applications, thereby increasing innovation speed and efficiency [1][3] Group 2: Digital Asset Research Institute - The newly established digital asset research institute will monitor domestic and international policy changes and technological trends, providing strategic guidance for the company's digital business [2][3] - The institute's focus includes integrating quality IP resources with RWA, indicating a clear operational path and defined objectives [3] Group 3: Business Development Plans - New City Development plans to launch three main business initiatives: issuing NFTs based on its unique IP, tokenizing asset revenues from its shopping centers, and exploring the tokenization of financial assets like convertible bonds [3] - The company anticipates that once all 200+ shopping centers are operational, annual merchant sales could reach HKD 150 billion, contributing significantly to its cash flow [3] Group 4: Market Context and Challenges - The digital economy's growth has prompted many companies to enter the blockchain and NFT space, but success varies widely, with some efforts seen as mere market management tactics [4] - New City Development is not the first real estate company to venture into digital assets, with competitors like Greenland Group already making strides in the sector [5][6] Group 5: Financial Implications - The initial fundraising of HKD 49.4 million is modest and will primarily support research and platform development, with significant financial contributions expected in the long term if the strategy is successful [7] - Following the announcement of its digital asset initiatives, New City Development's stock experienced a brief increase, reflecting market optimism about its transformation efforts [7]

Group 1 - The core viewpoint indicates that the stock prices of major Chinese property companies have generally declined, with notable drops in companies such as Zhongliang Holdings (down 5.26% to HKD 0.072), China Overseas Grand Oceans (down 3.67% to HKD 2.36), and others [1] - According to data from CRIC, the top 100 real estate companies achieved a cumulative sales amount of CNY 20,708.8 billion in the first eight months of 2025, representing a year-on-year decrease of 13.1%, with the decline rate expanding by 0.6 percentage points compared to the previous seven months [1] - In August alone, the sales amount was CNY 2,070.4 billion, reflecting a month-on-month decrease of 1.9% and a year-on-year decrease of 17.6% [1] Group 2 - Guosheng Securities noted that the overall real estate market continued its adjustment trend in August, with the sales amount of the top 100 companies declining month-on-month, although the year-on-year decline rate further expanded due to a lower base last year [1] - Zhongyin Securities suggested that following the optimization of home purchase policies outside the Fifth Ring Road in Beijing, similar policies were implemented in Shanghai last week, which may lead to an increase in market activity in the upcoming traditional peak season over the next two months [1]

Core Viewpoint - The company New City Development is accelerating its transformation by establishing a digital asset research institute and launching the "New Chain" business blueprint to integrate online digital assets with offline commercial operations [2][8]. Group 1: Digital Asset Initiatives - New City Development plans to establish a digital asset management company to promote the tokenization of quality IP resources and asset revenues [2]. - The company aims to issue NFT digital collectibles based on the unique IP of its shopping centers and explore RWA products based on asset revenues [5][6]. - The global RWA asset total is projected to reach $26.7 billion by August 2025, indicating rapid market growth [4]. Group 2: Policy and Market Context - The push into digital assets is supported by favorable policies from the central and local governments aimed at promoting the digital economy and consumption [3]. - Hong Kong is positioning itself as a global digital asset center, with recent policy declarations aimed at fostering innovation in this sector [3]. Group 3: Business Model Transformation - New City Development's business model transformation is closely linked to its performance and asset base, with a focus on enhancing cash flow through its shopping centers [6][7]. - The company anticipates that once all its shopping centers are operational, they could generate annual merchant sales of 150 billion yuan, contributing significantly to stable cash flow [7]. - The integration of NFT and RWA products is expected to unlock substantial potential value from traditional financial assets [7].

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8月31日 狀態: 新提交 FF301 第 1 頁 共 10 頁 v 1.1.1 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9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 | | 0.00 ...

Group 1 - The core point of the article is that New World Development (stock code: 1030) announced a financing plan through the subscription of new shares, raising approximately HKD 50 million [1][2] - The company will issue 19,346,101 shares at a subscription price of HKD 2.5845 per share, which represents a premium of about 4.2% over the closing price of HKD 2.480 on August 29, 2025 [1] - The funds raised will be allocated to the company's strategic deployment in the RWA application field [2] Group 2 - The newly issued shares will account for approximately 0.27% of the company's existing issued share capital as of the announcement date [1] - The completion of the issuance is subject to the approval of the Hong Kong Stock Exchange and the payment of the total consideration of HKD 50 million by the subscriber by September 30, 2025 [2] - The issuance is conducted under the general authorization granted by the shareholders' meeting [2]