Core Viewpoint - The announcement from Baolong Properties (01238) indicates a significant decline in contract sales for December 2025, reflecting broader challenges in the real estate market [1] Group 1: Contract Sales Performance - The contract sales amount for December 2025, including joint ventures and associates, is approximately RMB 607 million, representing a year-on-year decrease of 42.41% [1] - The total contract sales for the 12 months ending December 31, 2025, including joint ventures and associates, is approximately RMB 7.272 billion, showing a year-on-year decline of 43.13% [1] - The total contract sales area for December 2025 is 71,290 square meters, while the total sales area for the 12 months is 667,082 square meters [1]

Core Viewpoint - Baolong Real Estate (01238) reported a significant decline in contract sales for December 2025, indicating challenges in the real estate market [1] Group 1: Contract Sales Performance - The group's contract sales amount (including joint ventures and associates) for December 2025 was approximately RMB 607 million, representing a year-on-year decrease of 42.41% [1] - The total contract sales for the 12 months ending December 31, 2025, was approximately RMB 7.272 billion, reflecting a year-on-year decline of 43.13% [1] - The total contract sales area for December 2025 was 71,290 square meters, while the total sales area for the 12 months was 667,082 square meters [1]

Core Viewpoint - Baolong Properties (01238.HK) announced its contract sales figures for December 2025, indicating a total contract sales amount of approximately RMB 6.07 billion and a contract sales area of about 71,290 square meters [1] Group 1: Contract Sales Performance - The total contract sales amount for the twelve months ending December 31, 2025, including joint ventures and associates, is approximately RMB 72.72 billion [1] - The total contract sales area for the same period is approximately 667,080 square meters [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佈的內容概不 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 佈 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 POWERLONG REAL ESTATE HOLDINGS LIMITED 寶龍地產控股有限公司（「本公司」，連 同 其 附 屬 公 司 統 稱 為「本集團」）董事會（「董 事 會」）謹此公佈本集團截至2025年12月31日 止 月 份 若 干 未 經 審 核 營 運 數 據。 本集團於2025年12月的合約銷售額（連 同 共 同 控 制 實 體 及 聯 營 公 司 的 合 約 銷 售 額）及合約銷售面積分別約為人民幣607百萬元及71,290平 方 米。本 集 團 截 至2025 年12月31日止十二個月的合約銷售總額（連 同 共 同 控 制 實 體 及 聯 營 公 司 的 合 約 銷 售 額）及合約銷售總面積分別約為人民幣7,272百萬元及667,082平 方 米。 上 述 銷 售 數 據 未 經 審 核，乃 根 據 本 集 團 初 步 內 ...

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12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: 寶龍地產控股有限公司 呈交日期: 2026年1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) | 01238 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | 30,000,000,000 | HKD | | 0.01 | HKD | | 300,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | 30,000,000,000 | HKD | | 0.01 | HKD | | 300,000,000 | FF301 第 1 頁 共 10 頁 ...

Policy News - The national housing and urban-rural construction work conference emphasized the promotion of a "current housing sales system" by 2026 to fundamentally prevent delivery risks, while also enhancing the supervision of pre-sale funds to protect buyers' rights [1] - Beijing has relaxed housing purchase restrictions for non-local and multi-child families, reducing the social security or tax payment period for purchasing homes within the Fifth Ring from 3 years to 2 years, and from 2 years to 1 year for areas outside the Fifth Ring [2] - In Henan, multi-child families can increase their housing provident fund loan limit by 20%, and those with one existing home can be recognized as first-time buyers for a new purchase [4] Market News - The one-year and five-year Loan Prime Rates (LPR) remain unchanged at 3.0% and 3.5%, respectively [5] - From January to November 2025, 25,800 old urban residential communities were newly started for renovation, exceeding the annual target by 800 [6] Real Estate Transactions - Haikai won a land parcel in Haidian District, Beijing, for 8.456 billion yuan, with a floor price of approximately 69,600 yuan per square meter [7] - Beijing Construction and Urban Development consortium acquired a land parcel in Fengtai District for a base price of 2.472 billion yuan, with a floor price of about 42,000 yuan per square meter [8] - Wuhan's land market saw a significant surge, with 41 parcels sold over three days, totaling approximately 22.488 billion yuan [9] Company News - Sunac China announced the comprehensive restructuring of approximately 9.6 billion USD in existing debt, effective December 23, 2025 [11] - Oceanwide Group completed a debt restructuring involving 476 million USD in secured notes and 212 million USD in zero-coupon convertible bonds [12] - Seazen Group reported that 85.48% of its creditors supported its debt restructuring plan, with a court hearing scheduled for March 19, 2026 [14]

Core Viewpoint - Baolong Properties has entered into a cooperation agreement to sell 100% equity of Hangzhou Huazhan Real Estate Development Co., Ltd. to Lianshang No. 1, Lishui Lianjia, and Tianjin Yuanjian, marking a strategic divestment of assets valued at 2.45 billion yuan with an initial transaction price of 1 billion yuan [1][3]. Group 1 - The transaction involves the Hangzhou Binjiang Baolong City Shopping Center and the Hangzhou Binjiang Baolong Yijun Hotel, with the estimated net proceeds from the equity transfer being approximately 999.7 million yuan [3]. - The company plans to allocate 45% of the proceeds for property development, 20% for general operating expenses, 15% for tax expenses, and 20% for restructuring costs both domestically and internationally [3]. - Baolong Properties retains a buyback option for the target company and projects, allowing it to regain ownership and control based on future strategic needs [3]. Group 2 - The Hangzhou Baolong City complex has a total construction area of 400,000 square meters, including hotel-style apartments, a shopping center, a 199-meter super high-grade office building, and commercial street areas [3]. - The Binjiang Baolong City Shopping Center opened in December 2016, attracting over 220,000 visitors on its first day and achieving sales exceeding 3 billion yuan in 2022, with projected sales of 3.3 billion yuan in 2024 [4]. - The operational net income for the Binjiang Baolong City for the years 2023, 2024, and the first eight months of 2025 is projected to be 231 million yuan, 232 million yuan, and 156 million yuan, respectively [4].

Core Viewpoint - Baolong Real Estate is set to sell Hangzhou Binjiang Baolong City and Hangzhou Binjiang Baolong Yijun Hotel for an initial price of 1 billion yuan [1][7][9]. Group 1: Transaction Details - The sale agreement involves Shanghai Lianshang No. 1 Commercial Management Co., Ltd., which is 99.97% owned by Lishui Lianjia No. 2 Equity Investment Partnership [2][10]. - The payment will be made in four installments, with the first payment being 135 million yuan [2][9]. - A special shareholders' meeting will be convened by Baolong Real Estate to discuss this matter [10]. Group 2: Property Information - Hangzhou Binjiang Baolong City has a total construction area of approximately 137,000 square meters (excluding parking) and includes 1,390 underground parking spaces [5][12]. - The hotel has 175 guest rooms and began operations in December 2017 [5][12]. - The properties generated a net operating income of 231 million yuan in 2023, projected to be 232 million yuan in 2024, and 156 million yuan from January to August 2025 [5][12]. Group 3: Financial Obligations - After the completion of the equity transfer, Lianshang No. 1 will be responsible for providing shareholder loans or arranging new financing to repay approximately 1.46 billion yuan in project debt [5][12].

LPR 连续 7 个月保持不变；资金面延续宽松，债市承压走弱 【内容摘要】12 月 22 日，资金面保持宽松态势；12 月 LPR 报价继续持稳，叠加股市上涨，债 市承压走弱；转债市场跟随权益市场延续上行，转债个券多数上涨；各期限美债收益率普遍上 行，主要欧洲经济体 10 年期国债收益率普遍上行。 一、债市要闻 （一）国内要闻 【LPR 连续 7 个月保持不变】12 月 22 日，央行授权全国银行间同业拆借中心公布，1 年期 LPR 为 3.00%，5 年期以上 LPR 为 3.50%，均与上月持平，连续 7 个月保持不变。 【李强主持召开国务院"十五五"规划《纲要草案》编制工作领导小组会议】12 月 22 日，中 共中央政治局常委、国务院总理李强主持召开国务院"十五五"规划《纲要草案》编制工作领 导小组会议，深入研究《纲要草案》编制工作。李强指出，目前《纲要草案》的编制已经有了 较好基础，下一步要集中力量、精益求精做好修改完善工作。要着眼于更好发挥规划引领作用， 紧紧围绕推动高质量发展这个主题来设定指标、安排政策、谋划项目，推动经济实现质的有效 提升和量的合理增长。 【关于地方政府债务风险问题整改，财政部、 ...

Group 1 - The company announced a conditional agreement to sell 100% equity of Hangzhou Huazhan Real Estate Development Co., Ltd. to Lianshang Yihua, which will result in the target company no longer being a subsidiary of the company after the transfer [1] - The target project includes a commercial complex known as Hangzhou Binjiang Baolong City shopping center and the Hangzhou Binjiang Baolong Yijun Hotel, both located in Hangzhou, Zhejiang Province, China [1] - The equity transfer is expected to improve the company's liquidity and support its daily operations and property development projects [1] Group 2 - The estimated net proceeds from the equity transfer are approximately RMB 999.7 million [2] - The company plans to allocate 45% of the proceeds for property development to ensure timely delivery, 20% for general operating expenses, 15% for tax expenses, 10% for overseas restructuring costs, and 10% for domestic restructuring costs [2]