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 等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：1233） （債務股份代號： 40389及40528） 本公司證券持有人及本公司潛在投資者於買賣本公司證券時務請審慎行事。 承董事會命 時代中國控股有限公司 主 席 岑釗雄 內幕消息 押後清盤呈請聆訊 本公告乃由時代中國控股有限公司（「本公司」）根據香港法例第571章證券及期貨條 例 第XIVA部以及香港聯合交易所有限公司證券上市規則第13.09(2)(a)條及第 13.25(1)(b)條作出。 茲提述本公司日期為二零二四年四月十六日、二零二四年七月三日、二零二四年七月 三十一日、二零二四年八月十二日、二零二四年十月二十一日、二零二四年十一月二 十五日、二零二五年一月二十四日及二零二五年五月十四日之公告，內容有關針對本 公司的清盤呈請及押後呈請聆訊日期（「該等公告」）。本公告所用詞彙與該等公告所 界定者具有相同涵義。 在本公司及呈請人一致提出延期申請後，高等 ...

Group 1 - Times China Holdings Limited has met multiple conditions for its debt restructuring plan, which has been approved by the Hong Kong High Court [2][3] - The company reported a cumulative contract sales amount of approximately 3.202 billion yuan for the first seven months of 2025 [2][6] - The company faces a winding-up hearing on August 11 and still needs to address its domestic debt restructuring [2][4] Group 2 - The debt restructuring process for Times China took about a year, with significant milestones reached in June and November 2024 [4][5] - The restructuring plan includes various debt instruments such as short-term, medium-term, and long-term notes, as well as mandatory convertible bonds [5] - A high percentage of creditors voted in favor of the restructuring plan, with 97.5% of attending creditors supporting it [5] Group 3 - The restructuring of Times China reflects a broader trend among distressed real estate companies in China, with several firms like Longfor Group and Shimao Group also completing their debt restructurings [7] - The preference for debt-to-equity swaps over simple extensions indicates a shift in strategy among distressed firms to reduce debt levels [7][8] - Analysts suggest that successful restructuring does not guarantee recovery, as companies still need to improve their operational performance to avoid further defaults [8]

上述數據乃未經審核及依據本集團的初步內部資料編製，或會因為在收集有 關 資料的過程中的多項不確定因素，而與本公司按年度或半年度基準刊發的經 審 核或未經審核綜合財務報表所披露的數字不同。因此，上述數據僅供投資者 參 考。投資者在買賣本公司證券時務請審慎小心，不應過份倚賴有關資料。如 有 疑問，投資者應徵詢持牌證券交易商、註冊證券機構、銀行經理、律師、執 業 會計師或其他專業顧問的意見。 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的任何損失承擔任何責 任。 TIMES CHINA HOLDINGS LIMITED 時代中國控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股份代號：1233） 截至二零二五年 七 月 三 十 一 日 止 七 個 月 未經審核經營數據 時代中國控股有限公司（「本公司」，連同其附屬公司統稱為「本集團」） 董 事會（「董事會」）欣然宣佈，本集團截至二零二五年七月三十一 ...

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: 時代中國控股有限公司 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) | 01233 | 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 | | 0.1 | 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 ...

Core Viewpoint - Times China Holdings (01233) has announced that it is seeking the High Court's approval for a plan, with a hearing scheduled for July 30, 2025, and the plan has already received approval based on the High Court's directive [1] Group 1 - The company is in the process of obtaining High Court approval for its proposed plan [1] - The hearing date for the plan is set for July 30, 2025 [1] - The plan has already been approved according to the directive from the High Court [1]

Core Viewpoint - Times China Holdings (01233) has announced that it is seeking the High Court's approval for a plan, with a hearing scheduled for July 30, 2025, and the plan has already received approval as per the High Court's directive [1] Group 1 - Times China Holdings is pursuing a court hearing for its plan [1] - The hearing is set for July 30, 2025 [1] - The plan has been approved according to the High Court's directive [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 等內容而引致的任何損失承擔任何責任。 本公告僅供參考用途，並不構成收購、購買或認購本公司證券的邀請或要約。 本公告並非亦不構成於美國或任何其他未有根據任何有關司法權區證券法例辦理登記或取得資格 前作出有關要約、游說或出售則屬違法的司法權區購買或出售任何證券的要約或要約購買或出售 該等證券的游說的任何部分。本公告所述證券不曾亦不會根據一九三三年美國證券法登記，而證 券在未辦理登記或未獲豁免登記的情況下不得在美國發售、出售或以其他方式轉讓。將於美國公 開發售的任何證券將以售股章程形式作出，該售股章程可自本公司索取，並將載有關於本公司及 管理層以及財務報表的詳細資料。本公司並無計劃在美國登記本公告所述發售的任何部分。 （於開曼群島註冊成立的有限公司） （股份代號：1233） （債務股份代號： 40389及40528） 本公告乃由時代中國控股有限公司（「本公司」）根據香港法例第571章證券及期貨條 例 第XIVA部以及香港聯合交易所有限公司證券上市 ...

时代中国境外债务重组计划获香港法院批准。 ...

Core Viewpoint - The debt restructuring and reorganization process among real estate companies has significantly accelerated, with multiple firms disclosing their restructuring progress, indicating a shift towards substantial implementation of risk mitigation strategies in the industry [2][3][4]. Group 1: Debt Restructuring Progress - Companies such as *ST Jinke, Times China Holdings, and Longguang Group have reported advancements in their restructuring efforts, including approvals for overseas and domestic debt plans [2][3]. - As of June 25, over ten real estate companies, including Sunac, R&F, and Jinke, have received approval for debt restructuring or reorganization [2][4]. - The restructuring process is characterized by a diverse range of methods, standardized procedures, balanced interests, and policy coordination [5][6]. Group 2: Specific Company Updates - *ST Jinke has entered the execution phase of its restructuring plan, with a total of 2.628 billion yuan in investment funds received [3]. - Times China Holdings has received approval from the majority of its plan creditors for its debt restructuring plan, with a total of 29.05 billion USD in voting creditors [3]. - Longguang Group announced that its restructuring plan for 21 domestic bonds has been approved by relevant bondholders, with various options for principal and interest repayment [4]. Group 3: New Characteristics of Restructuring - The restructuring methods have diversified, including debt swaps, debt-to-equity conversions, and asset sales, with some companies employing combinations of repayment methods [5][6]. - The "early bird consent fee" mechanism has emerged as an innovative approach to expedite restructuring, providing incentives for creditors to agree to plans [6][7]. - The current market conditions, including stable housing prices, are favorable for enhancing asset valuations, which can facilitate the implementation of restructuring plans [7].

Group 1: Market Performance - The iBoxx China USD bond investment-grade index rose by 0.12% while the speculative-grade index increased by 0.48% last week [2] - The investment-grade yield remained stable compared to the previous week, while the speculative-grade yield rose by 0.03% [2] - The offshore bond issuance scale decreased in the primary market, while the secondary market saw slight increases in both investment-grade and high-yield bond indices [3] Group 2: Macroeconomic Indicators - In June, the Consumer Price Index (CPI) rose by 0.1% year-on-year, reversing the previous month's decline, while the core CPI increased by 0.7% [3] - The Producer Price Index (PPI) fell by 3.6% year-on-year, with a month-on-month decrease of 0.4% [3] - As of June 2025, China's foreign exchange reserves reached $33,174 billion, an increase of $322 billion from May [3] Group 3: Corporate News - Kaisa Group has completed 76% of the cash repayments for its Jin Heng Wealth products, providing new solutions for outstanding amounts [25] - Longfor Group announced that the restructuring plan for its 21 domestic bonds and asset-backed securities has been approved by bondholders [25] - Times China Holdings reported that over 85.67% of its plan creditors have agreed to the proposed restructuring plan [25] Group 4: Regulatory Developments - The Ministry of Finance issued a notice to guide insurance funds for long-term stable investments, adjusting the assessment method for net asset return rates [2] - The Hong Kong Securities and Futures Commission announced measures to optimize and expand the Bond Connect program, enhancing Hong Kong's competitiveness as an offshore RMB business center [2] Group 5: Debt Issuance - Last week, 18 companies issued 21 offshore bonds totaling approximately $3.3 billion, with city investment bonds accounting for about $1.6 billion [8] - Changjiang Industrial issued over HKD 2 billion in medium-term notes, with competitive interest rates [8] - Tianchang Agricultural Development issued $90 million in bonds with a coupon rate of 6.45%, achieving a subscription rate of over four times [9]