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7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: 美聯集團有限公司 (於百慕達註冊成立之有限公司) 呈交日期: 2025年8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) | 01200 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.1 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.1 HKD | | 100,000,000 | 本月底法定/註冊 ...

Group 1 - Central Plains Real Estate reported 7 transactions in Hong Kong's top ten estates over the weekend, a decrease of 1 transaction or 12.5% week-on-week, all occurring on Saturday due to typhoon impacts on Sunday [1] - The Vice Chairman and President of Residential Department at Central Plains Real Estate, Chen Yongjie, noted that the absence of new launches led to a return of buying power in the secondary market, with a stable and positive development in transactions [1] - Midland Realty reported that the third weekend of July saw 7 transactions in the top ten blue-chip estates, a drop of approximately 30% from the previous weekend, marking a new low in 15 weekends [1] Group 2 - In the distribution of transaction volumes among the top ten indicator estates, the Hong Kong Island area recorded only 2 transactions, a 50% decrease week-on-week, while the Kowloon area maintained 3 transactions [2] - The New Territories area saw 2 transactions, reflecting a decrease of 33.3% week-on-week [2] - Despite the weekend's lower transaction volume, the ongoing low-interest environment and the advantage of supply exceeding rental demand are expected to attract buyers and long-term investors, with projections of 2,300 first-hand transactions and 4,200 secondary market transactions for the month [1]

美联物业山顶南区豪宅首席区域营业董事方富义表示，山顶南区今年上半年共录得约76宗买卖，较去年 下半年约55宗上升约38.18%，并创出自2021年下半年后的3年半新高。成交金额则录得75.56亿港元，较 去年下半年约95.08亿港元则下跌约20.53%，呈量升额跌情况。 大额成交方面，上半年山顶南区录得22宗逾亿港元成交，与去年下半年约23宗相近，当中10宗为一手成 交，以及12宗为二手成交。此外，若按类型划分，上半年山顶南区洋房录得约19宗成交，较去年下半年 约26宗下跌约26.92%，而上半年洋房买卖中，7宗为一手，12宗属二手。 智通财经APP获悉，据美联物业(01200)统计，港岛区逾5000万港元一手成交量创出7年新高，表现跑赢 大市，而山顶南区豪宅交投亦较去年下半年录得近4成增长，录得约76宗。 美联物业港岛区董事李颂贤表示，综合《一手住宅物业销售信息网》及市场资料，今年上半年全港一手 成交量录得约9306宗，较去年下半年约6929宗上升约34%，亦较去年同期约8619宗上升约8%，创出6年 新高。 至于豪宅方面，若以金额划分，今年上半年港岛区(包括愉景湾)逾5000万港元一手超级豪宅成交量录得 ...

Group 1 - The current state of US-China relations is stable, and Hong Kong's interbank offered rate (HIBOR) is expected to remain around 1.1% to 2% until at least Q3, positively impacting the Hong Kong economy [1] - The luxury property market in Hong Kong has reached its bottom in Q1, with the overall property market expected to bottom out in Q2, and the commercial market potentially bottoming out by Q4 or year-end [1] - In the first half of the year, Hong Kong's primary property transactions reached approximately 9,306, a 34% increase from the previous half and an 8% increase year-on-year, marking a six-year high [1] Group 2 - In the luxury segment, the number of transactions for super luxury properties (over HKD 50 million) in Hong Kong Island reached about 83 in the first half of the year, a 17% increase from the previous half and a 19% increase year-on-year, marking a seven-year high [2] - The Peak South District recorded approximately 76 transactions in the first half of the year, a 38.18% increase from the previous half, achieving a three-and-a-half-year high, although the transaction amount decreased by about 20.53% [2]

6月23日，截至港股收盘，恒生指数上涨0.67%，报23689.13点。美联集团（01200.HK）收报1.35港元/ 股，上涨8.87%，成交量239万股，成交额308.86万港元，振幅10.48%。 最近一个月来，美联集团累计涨幅18.1%，今年来累计涨幅47.62%，跑赢恒生指数17.3%的涨幅。 财务数据显示，截至2024年12月31日，美联集团实现营业总收入56.34亿元，同比增长49.03%；归母净 利润2.97亿元，同比增长864.2%；毛利率99.51%，资产负债率78.89%。 机构评级方面，目前暂无机构对该股做出投资评级建议。 作者：行情君 行业估值方面，地产行业市盈率（TTM）平均值为4.84倍，行业中值-0.15倍。美联集团市盈率2.78倍， 行业排名第5位；其他百仕达控股(旧)（02983.HK）为0.48倍、百仕达控股(新)（01168.HK）为0.5倍、 恒达集团控股（03616.HK）为1.71倍、中国新城市（01321.HK）为2.22倍、瑞森生活服务 （01922.HK）为2.82倍。 资料显示，美联集团有限公司为香港最大型地产代理公司之一。美联成功过渡97-03年香港楼市 ...

Core Insights - The "Hong Kong Confidence Index" has risen to 64.3 points, a week-on-week increase of 1.6%, driven by a significant drop in interest rates and a cooling trade war, which positively impacts the Hong Kong property market [1] - The latest "Hong Kong Property Price Index" stands at 127.47 points, showing a slight week-on-week decline of 0.05%, with a year-to-date decrease of 0.52% [1] Price Trends - The price index for different districts shows mixed results: the Hong Kong Island index is at 132.65 points (down 0.28% week-on-week), the Kowloon index at 133.17 points (down 0.19%), and the New Territories index at 116.24 points (up 0.14%) [1] - Year-to-date performance indicates that Hong Kong Island and New Territories have decreased by 2.41% and 1.64% respectively, while Kowloon has increased by 1.63% [2] Discounted Listings - The highest ratio of discounted listings is found in the New Territories, with specific areas like Lantau Island/Yueng Ching Bay, Tsuen Wan, and Kwun Tong having the most significant discounts [1] - The most discounted units are categorized by size, with B-class units (approximately 431 to 752 square feet) having the highest discount ratio, followed by C-class (753 to 1075 square feet) and A-class (430 square feet or less) [1]

Group 1 - The demand for housing in Hong Kong remains strong, leading to a further increase in private residential rents, with the average rent per square foot reaching approximately HKD 38.02 in April, a month-on-month increase of about 0.4%, marking a new high since July 2019 [1] - The market anticipates three interest rate cuts in the US this year, which may lead to a further decline in mortgage rates in Hong Kong [1] - The recent drop in interbank rates has resulted in a decrease in mortgage rates, with the latest H mortgage rate at 3.23%, which is approximately 0.27% lower than the capped P mortgage rate of 3.5% [1] Group 2 - The residential market has experienced a "rising rent and falling price" phenomenon, contributing to an increase in rental yield, with the latest rental yield for Class A private residential properties recorded at 3.7%, up from 3.3% year-on-year [2] - The rental yield has increased by 1.4 percentage points compared to the low of 2.3% in 2021, indicating a positive trend in rental returns [2] - In April, rents continued to rise, with notable increases in rents along certain railway lines, such as a 9.8% increase at the Kowloon Station's Parkview and approximately 8.8% and 8.4% increases at the Wu Kai Sha Station's Silver Lake Peak and Wong Tai Sin Station's Sun Ching Mountain, respectively [2]

Group 1 - In April, only one subsidized housing project at 3 Muk Lee Street (1,800 units) received a new pre-sale consent, while there were no new applications for private residential projects, marking a return after five months [1] - A total of five projects were approved for pre-sale in April, including the popular Sierra Sea Phase 1 (781 units) and the newly priced Sierra Sea Phase 1B (794 units), along with Kai Tak Flower Sea Phase 2 (416 units), Discovery Bay project (320 units), and 7 Hospital Road, Mid-Levels (62 units), totaling 2,373 units [1][2] - The number of approved but unsold private residential units rose to 16,290 units, a month-on-month increase of approximately 10.8% [2] Group 2 - The cumulative inventory of unsold units reached approximately 22,173 units by the end of April, showing a month-on-month decrease of about 1.4% [2] - The total number of units available for sale, including the approved but unsold units, increased from nearly 37,200 units in March to about 38,500 units in April, reflecting a month-on-month increase of approximately 3.4% [2] - The number of pending pre-sale units decreased by about 8.1% month-on-month to 6,517 units, the lowest level since January 2020 [2]

Sales Performance and Market Presence - The company achieved significant sales success in new property projects, winning multiple sales championships from major developers, including projects like 吉㊧ and 明雋[15] - The company was awarded several accolades at the annual developer award ceremony, including "Highest Total Sales Agency" and multiple "Highest Sales Amount" awards for various projects[13] - The company continues to expand its market presence in Hong Kong, China, and Macau through various strategic business units, including property agency and financial services[5] - The residential property market in Hong Kong saw a 22.8% increase in transactions in 2024, contributing to an overall property registration volume increase of 17.1%, the highest in three years[42] - The overall property registration volume in November 2024 saw a substantial increase, reaching a new high since April 2024, indicating a recovery in market activity[45] Financial Performance - The group recorded revenue of approximately HKD 6.084 billion for the year ending December 31, 2024, representing a 49% increase compared to the previous year[40] - The group achieved a profit attributable to equity holders of approximately HKD 320 million, a significant turnaround from a loss of HKD 42 million in the previous year[40] - The group’s operating performance for the year ending December 31, 2024, significantly improved compared to 2023, driven by a rebound in the Hong Kong residential property market and optimized operational efficiency[44] Innovation and Technology - The company emphasizes innovation and technology in its operations, as demonstrated by its recent anniversary event that integrated digital technology elements[8] - The establishment of the "Market and Innovation Technology Center" aims to enhance digital intelligence development and optimize internal systems for business growth[19] - The group won multiple awards for its online platform, including silver awards for "Best Digital Targeted Audience Campaign" and "Best Digital Advertising Strategies" in 2024[21] - The company is focusing on digital transformation and has made significant investments to enhance digital marketing capabilities and internal online sales platforms[56] - The company has launched "KOL-led property viewings" and "AI • VR property tours" to enhance digital services, allowing customers to view properties through introduction videos and virtual reality technology[175] Employee Development and Training - The company is focused on enhancing employee training and professional development through its training center, 美聯大學堂[7] - The group received external recognition for its training efforts, being awarded the "Talent Enterprise" honor for over 10 consecutive years and ranking first among real estate agencies with 135 branches recognized by the regulatory authority in 2024[182] - Employee training programs are tailored to job roles and levels, with specialized training for frontline and support staff[180] - The company developed a digital learning management system to enhance employee training, allowing flexible access to online courses and live training sessions, improving engagement and collaboration[182] Corporate Governance - The company emphasizes integrity, transparency, accountability, and independence in its corporate governance practices[71] - The board consists of seven members, including four executive directors and three independent non-executive directors[77] - The company has maintained compliance with the Hong Kong Stock Exchange's corporate governance code throughout the fiscal year ending December 31, 2024[72] - The company is committed to maintaining high standards of corporate governance to enhance shareholder value and protect shareholder interests[71] - The company has established arrangements for stakeholders to raise concerns regarding financial reporting and internal controls[92] Corporate Social Responsibility - The company is committed to corporate social responsibility and governance, as reflected in its various reports and initiatives[20] - The company has been recognized for its corporate social responsibility efforts, receiving the "Caring Company" logo for 21 consecutive years[132] - The company has actively participated in various charitable activities, including donations and volunteer work, to support vulnerable communities[135] - The company has provided internship and employment opportunities to students, contributing to their market competitiveness[129] - The company has organized numerous free seminars and programs to educate the public on real estate and financial information[127] Environmental Sustainability - The company has been recognized for its commitment to environmental sustainability, receiving multiple awards including the "Hong Kong Green Organization" certification[148] - The company is committed to reducing its carbon footprint and has set energy efficiency targets, expecting to reduce energy consumption by 20% to 30% through the installation of energy-saving equipment[189] - The company actively monitors greenhouse gas emissions and prepares annual reports in accordance with ISO 14064-1:2018 standards, ensuring data accuracy through external audits[189] - The company has implemented a green procurement policy to prioritize environmentally friendly products and services[197] - The company encourages employees to practice the 4Rs principles (Reduce, Reuse, Recycle, Replace) to enhance environmental awareness[193]

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 6,084,239, an increase of 49.0% compared to HKD 4,082,694 in 2023[3] - Operating profit for the year was HKD 384,586, a significant recovery from an operating loss of HKD 17,903 in the previous year[3] - Net profit attributable to equity holders for the year was HKD 320,323, compared to a loss of HKD 41,916 in 2023, marking a turnaround[3] - Basic and diluted earnings per share for the year were HKD 44.67, compared to a loss per share of HKD 5.85 in the previous year[3] - The reported segment profit for 2024 was HKD 433,178,000, a significant increase from HKD 13,679,000 in 2023, resulting in a pre-tax profit of HKD 370,936,000 compared to a loss of HKD 29,209,000 in the previous year[19] - The company reported a revenue of approximately HKD 6.084 billion for the year ending December 31, 2024, representing a 49% increase compared to HKD 4.2 million loss for the year ending December 31, 2023, resulting in a profit of approximately HKD 320 million attributable to equity holders[34][35] Assets and Liabilities - Total assets increased to HKD 4,708,309, up from HKD 3,569,187 in 2023, reflecting a growth of 32.0%[5] - Total liabilities rose to HKD 3,714,595, compared to HKD 2,911,996 in 2023, indicating an increase of 27.6%[6] - Cash and cash equivalents at year-end were HKD 711,127, up from HKD 532,147 in 2023, representing a growth of 33.6%[5] - The total accounts payable, including commissions and rebates due within 30 days post-year-end, increased to HKD 495,273,000 in 2024 from HKD 295,165,000 in 2023, reflecting a growth of 67.5%[32] - As of December 31, 2024, the group's cash and bank deposits amounted to HKD 711,127,000, an increase from HKD 532,147,000 in 2023[50] - As of December 31, 2024, the group's net debt-to-equity ratio remains at 0% (2023: 0%) and the total debt-to-equity ratio is also 0% (2023: 25.9%) [51] Revenue Sources - Revenue from property agency business was HKD 6,070,571, up 49.3% from HKD 4,063,351 in the previous year[14] - The net revenue after rebates for the property agency business was HKD 3,372,971, representing a 28.3% increase from HKD 2,630,368 in 2023[14] - The company reported a significant increase in rebates, totaling HKD 2,697,600 in 2024 compared to HKD 1,432,983 in 2023, reflecting a rise of 88.2%[14] - The company’s external customer revenue for the property agency business was HKD 6,084,239, indicating a strong performance in the market[16] - Revenue from external customers in Hong Kong and Macau rose to HKD 5,745,377,000 in 2024, up from HKD 3,786,954,000 in 2023, while revenue from mainland China increased to HKD 338,862,000 from HKD 295,740,000[22] Operational Strategy - The company plans to continue expanding its property agency services in Hong Kong, mainland China, and Macau, focusing on enhancing its market presence[7] - The company is actively evaluating new strategies for market expansion and potential acquisitions to enhance its service offerings[15] - Future guidance indicates a focus on improving operational efficiency and increasing market share in the property sector[15] - The company successfully turned its operations in mainland China from loss to profit due to strategic measures implemented since Q4 2023, including the promotion of a new sales management team and business model reorientation[39][42] - The company has made significant investments in digital transformation and marketing capabilities, establishing a market and innovation technology center to enhance operational efficiency and promote innovative technologies[43] Market Conditions - The property market in Hong Kong saw a 22.8% increase in transactions in 2024, driven by the government's removal of previous restrictions, leading to a 17.1% rise in overall property registrations, the highest in three years[36] - The company experienced a decline in property transactions in mid-2024 due to geopolitical uncertainties and concerns over the US-China trade war, despite ongoing rental price increases driven by demand from incoming talent[37] - The influx of talent and investors from mainland China has been a key factor supporting housing demand, with approximately 92,000 high talent visa applications approved by the Hong Kong government in 2023 and 2024[40] Financial Health - The current ratio is 1.2 (2023: 1.1), indicating a healthy level of financial resources [51] - The return on equity is 32.23% (2023: -6.38%), reflecting a significant improvement in profitability [51] - The group had no interest-bearing borrowings as of December 31, 2024, compared to HKD 169,890,000 in borrowings in 2023[50] - The group has unused borrowing facilities amounting to HKD 1,168,000,000 (2023: HKD 1,405,000,000) [51] Corporate Governance - The group has complied with all corporate governance codes as per the Hong Kong Stock Exchange listing rules during the year ended December 31, 2024 [61] - The group has adopted its own code of conduct for securities trading by directors, which is not less stringent than the standard code [62] - The audit committee reviewed the consolidated financial statements for the fiscal year ending December 31, 2024, and confirmed that the figures align with the audited financial statements[64] Employee and Community Engagement - The group employed 4,593 full-time employees as of December 31, 2024 (2023: 4,731) [59] - The company expresses gratitude to all employees for their commitment and to customers and partners for their unwavering support[66]