Core Viewpoint - The recent news indicates that He Sheng Chuang Zhan has initiated a comprehensive merger plan with Zhu Guang Holdings Group, marking a significant consolidation within the Zhu family business [1][4]. Group 1: Company Background - Zhu Guang Holdings Group is chaired by Zhu Qing Yi, the youngest of the three Zhu brothers, with Zhu Meng Yi being the most prominent due to his founding of He Sheng Chuang Zhan in 1992 [2]. - The Zhu family has diversified interests, with Zhu Guang Holdings established in 1996, focusing on real estate that complements He Sheng's business [2][3]. Group 2: Merger Details - The merger rumors have been circulating since December, when Zhu Guang Holdings signed a cooperation agreement with CITIC Group's subsidiary for a redevelopment project in Guangzhou [5]. - The redevelopment project in Li Jiao Village spans 896,700 square meters, with a total construction area of 4,362,700 square meters [6]. Group 3: Financial Performance - Zhu Guang Holdings has faced continuous losses since 2022, with a reported loss of 213 million yuan in the first half of this year, although this is an improvement from 834 million yuan in the same period last year [11]. - He Sheng Chuang Zhan also reported a challenging financial situation, with a revenue of 6.471 billion HKD in the first half of the year, a 53% decrease year-on-year, and a loss of 1.732 billion HKD [12]. Group 4: Strategic Moves - He Sheng Chuang Zhan is looking to relocate its headquarters to accelerate project development in the Greater Bay Area, with significant land reserves in the region [14]. - The company aims to integrate resources from Zhu Guang Holdings without increasing its own liabilities, which could be a pathway to regain growth [14][16]. Group 5: Project Management - He Sheng Chuang Zhan has begun managing several projects from Zhu Guang Holdings, including the Li Jiao Village redevelopment, indicating a shift in project management strategy [9][10]. - The company has reported significant contract sales from its management projects, with a total sales amount of approximately 11.264 billion yuan in the first nine months of the year [15].

公司名稱: 珠光控股集團有限公司 呈交日期: 2025年11月3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) | 01176 | 說明 | 普通股 | | | | | | | | | | 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 | | 0.1 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1,000,000,000 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 ...

截至月份: 2025年9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: 珠光控股集團有限公司 呈交日期: 2025年10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) | 01176 | 說明 | 普通股 | | | | | | | | | | 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 | | 0.1 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1,000,000,000 股份發行人及根 ...

於 二 零 二 五 年 四 月 三 十 日（即 刊 發 二 零 二 四 年 年 報 當 日）起 至 本 公 告 日 期 止 期 間，已 採 取 以 下 步 驟 及 措 施 以 緩 解 流 動 資 金 壓 力 及 改 善 本 集 團 財 務 狀 況，並 解 決 無 法 表 示 意 見： 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 全部或任何部份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。 ZHUGUANG HOLDINGS GROUP COMPANY LIMITED 珠光控股集團有限公司* （於百慕達註冊成立之有限公司） （股份代號：1176） 有關截至二零二四年十二月三十一日止年度之年報 所載無法表示意見之最新情況 茲 提 述 珠 光 控 股 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）日 期 為 二 零 二 五 年 六 月 三 十 日 及 二 零 二 五 年 七 月 十 七 日 之 該 等 公 告（「該等公告」 ...

ZHUGUANG HOLDINGS GROUP COMPANY LIMITED 珠光控股集團有限公司* (incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock code 股份代號： 1176) As a Non-registered Holder of the Company, a notice of publication of the Website Version of a Corporate Communication, in both English and Chinese, will be sent by the Company to you by email or by post, only if your email address or postal address (as the case may be) are provided to the Company by your banks, brokers, custodians, nominee(s) or HKSCC Nominees Limited ...

ZHUGUANG HOLDINGS GROUP COMPANY LIMITED 珠光控股集團有限公司* (incorporated in Bermuda with limited liability) Should you have any queries relating to this notification, please call the Branch Share Registrar's telephone hotline at (852) 2980 1333 from 9:00 a.m. to 6:00 p.m., Monday to Friday (excluding public holidays). （於百慕達註冊成立之有限公司） (Stock code 股份代號： 1176) NOTIFICATION LETTER 通知信函 30 September 2025 Dear Registered Shareholders, Zhuguang Holdings Group Company Limited (the "Company") – Notice of publication of 202 ...

Financial Performance - For the six months ended June 30, 2025, the company reported total revenue of HKD 1,466,423,000, a significant increase from HKD 723,666,000 in the same period of 2024, representing a growth of approximately 102.5%[5] - The company recorded a net loss of HKD 245,990,000 for the period, an improvement compared to a net loss of HKD 859,224,000 in the prior year, indicating a reduction in losses by about 71.4%[5] - The gross profit increased from approximately HKD 544,864,000 for the six months ended June 30, 2024, to approximately HKD 1,010,124,000 during the review period[32] - The group reported a net loss of HKD 245,990,000 for the six months ended June 30, 2025, compared to a net loss of HKD 859,224,000 for the same period in 2024, showing an improvement of approximately 71.3%[92] - The company recorded a total comprehensive loss of HKD 893,201 for the six months ended June 30, 2025, compared to a loss of HKD 884,601 in the previous period[72] Revenue Breakdown - Revenue from property development was approximately HKD 894,967,000, up from HKD 101,036,000 in the same period last year, primarily due to an increase in the number of properties delivered[30] - The project management services segment contributed approximately HKD 506,853,000 to total revenue, compared to HKD 514,231,000 in the same period of 2024[30] - Rental income from investment properties decreased to approximately HKD 36,142,000 from HKD 72,706,000 in the same period last year, a decline of about 50%[26][31] - The group’s hotel operations revenue decreased to HKD 28,461,000 from HKD 194,540,000 in the previous year, a decline of approximately 85.3%[99] Assets and Liabilities - The total assets as of June 30, 2025, amounted to HKD 33,196,132,000, up from HKD 32,781,140,000 at the end of 2024, reflecting an increase of approximately 1.3%[5] - The total liabilities as of June 30, 2025, were HKD 30,126,488,000, compared to HKD 29,521,670,000 as of December 31, 2024, representing an increase of about 2.1%[95] - The total current liabilities amounted to HKD 27,869,963, an increase from HKD 27,455,239 as of December 31, 2024, reflecting a year-over-year increase of approximately 1.5%[69] - Non-current liabilities totaled HKD 2,256,525, an increase from HKD 2,066,431, indicating a growth of about 9.2%[69] Cash Flow and Financing - Cash and bank balances as of June 30, 2025, were approximately HKD 15,712,000, down from HKD 17,003,000 as of December 31, 2024[45] - The group’s outstanding interest-bearing bank and other borrowings were approximately HKD 14.48 billion as of June 30, 2025[78] - The net financing costs for the review period were approximately HKD 583,271,000, an increase from HKD 552,572,000 for the six months ended June 30, 2024, due to a decrease in interest capitalization rates[39] - The group plans to continue monitoring receivables from urban renewal projects and aims to recover them according to the agreed schedule[79] Projects and Developments - The company continues to focus on urban renewal projects in Guangzhou, enhancing its competitive advantage and industry position as an "urban renewal expert"[6] - The project "珠光金融城壹號" has a total saleable area of approximately 391,881 square meters, with a cumulative delivered area of 25,189 square meters as of June 30, 2025[8] - The project "珠光 • 逸景" has a total saleable area of approximately 164,603 square meters, with a cumulative delivered area of 154,361 square meters as of June 30, 2025[9] - The total land reserve of the company in China is approximately 730,848 square meters, which includes total saleable building area, pre-sold but not delivered area, and rental area[20] Shareholder Information - The company’s major shareholders, Zhu Qing Song and Liao Teng Jia, each hold 56.25% of the total issued share capital, amounting to 4,978,123,714 shares[161] - The total number of issued shares as of June 30, 2025, is 8,850,632,753 shares, which is used to calculate the approximate percentage of shareholdings[163] - The total number of shares held by the major shareholders indicates a significant concentration of ownership, with the top shareholders holding over 50% of the total issued shares[167] Compliance and Governance - The audit committee reviewed the accounting principles and policies adopted by the group and confirmed compliance with applicable accounting standards and listing rules[181] - The board expressed gratitude to shareholders and employees for their support and contributions to the group[182] - The board approved the interim financial information on August 29, 2025[156]

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 致：香港交易及結算所有限公司 公司名稱: 珠光控股集團有限公司 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) | 01176 | 說明 | 普通股 | | | | | | | | | | 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 | | 0.1 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1,000,0 ...

Core Viewpoint - The company reported a significant increase in total revenue for the mid-2025 period, with a year-on-year growth of approximately 103% compared to the same period in 2024 [1] Financial Performance - Total revenue for the mid-2025 period was approximately HKD 1,466,423,000 [1] - The company incurred a loss of approximately HKD 245,990,000 during the review period, a notable improvement from a loss of HKD 859,224,000 in the same period last year [1]

Group 1 - The company reported a revenue of HKD 1.466 billion for the first half of 2025, representing a year-on-year increase of 102.64% [1] - The loss attributable to shareholders narrowed to HKD 213 million, a decrease of 74.41% compared to the previous year [1] - The basic loss per share was HKD 0.028 [1]