Core Viewpoint - GAC Group is experiencing a significant stock price rebound driven by technological breakthroughs, organizational reforms, and ecological layout, prompting a reevaluation of its value in the capital market as it attempts to transition from a traditional manufacturing company to a technology-driven enterprise [1][4][12] Stock Performance - GAC Group's stock has seen a 21.71% increase this week, with a trading volume of 7.11 billion yuan, a dramatic rise of over 400% compared to the previous week's 1.34 billion yuan [1] - The company's market capitalization has returned to 94.3 billion yuan, nearing the 100 billion yuan mark [1] Sales and Revenue Projections - GAC Group is projected to achieve automobile sales of 2.0031 million units in 2024, with total revenue estimated at approximately 401.65 billion yuan [1] - The consolidated revenue is expected to be around 107.78 billion yuan [1] Technological Advancements - GAC Group has launched a pilot production line for solid-state batteries, marking a significant step towards mass production of automotive-grade solid-state batteries by 2026 [2][4] - The energy density of the newly developed solid-state batteries is nearly double that of existing batteries, enabling vehicles to achieve over 1,000 kilometers of range [4] Strategic Partnerships - GAC Group has formed a deep collaboration with Huawei to create a high-end smart electric vehicle brand named "Qijing," set to launch in mid-2024 [6] - The partnership aims to leverage Huawei's core technologies in smart driving and smart cockpit systems to enhance GAC's competitive edge in the smart electric vehicle market [6][7] Internal Reforms - GAC Group is undergoing a comprehensive restructuring of its organizational framework, management processes, and corporate culture to support its transition towards a technology-oriented company [9][12] - The new management team is focused on shifting the product development approach from an engineering mindset to a customer-centric perspective [12] Market Response - Following the announcement of solid-state battery production, GAC Group's stock was locked at the daily limit on the first trading day, indicating strong market enthusiasm [4] - Despite the recent stock surge, GAC Group's current price-to-book ratio remains at 0.85, indicating it is still undervalued [4]

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 （於 開 曼 群 島 註 冊 成 立 之 有 限 責 任 公 司） （股 份 代 號：1238） 整體解決方案的進展 延長同意費用截止日期 本公佈乃由寶龍地產控股有限公司（「本公司」）作 出。茲 提 述 本 公 司 日 期 為2025 年10月13日的公佈（「該公佈」），內 容 有 關（其 中 包 括）與特別小組成員訂立的重 組 支 持 協 議。除 另 有 指 明 者 外，本 公 佈 所 用 詞 彙 與 該 公 佈 所 界 定 者 具 有 相 同 涵 義。 本 公 司 欣 然 宣 佈，截 至 本 公 佈 日 期，計 劃 債 務73%以上的持有人已遞交加入重 組 支 持 協 議 的 函 件。本 公 司 謹 此 對 參 與 債 權 人 的 支 持 表 示 ...

Key Points - As of November 27, 44 stocks reached their 52-week highs, with Anling International (01410), China Northern Agricultural (00039), and MOS HOUSE (01653) leading the increase rates at 46.07%, 28.68%, and 22.74% respectively [1] - The closing prices and peak prices for the top three stocks are as follows: Anling International closed at 0.570 with a peak of 0.650, China Northern Agricultural closed at 0.095 with a peak of 0.166, and MOS HOUSE closed at 4.520 with a peak of 5.020 [1] - Other notable stocks that reached new highs include Junyu Foundation (01757) with an increase rate of 18.09% and Jiufu Lai (08611) with 15.08% [1] 52-Week Low Summary - The 52-week low list includes Contemporary Real Estate (01107) with a closing price of 0.019 and a low of 0.018, representing a decrease of 14.29% [2] - Other stocks that reached new lows include Zhihua Holdings (01707) at 0.031 with a decrease of 8.82% and Vanke Enterprises (02202) at 3.580 with a decrease of 8.51% [2] - The lowest prices for some other stocks are as follows: Shimao Group (00813) at 0.234 with a low of 0.233, and Baolong Real Estate (01238) at 0.232 with a low of 0.230 [2]

Summary of Key Points Core Viewpoint - As of November 26, a total of 39 stocks reached their 52-week highs, with notable performances from Fire Rock Holdings (02975), Crocodile Garments (02977), and Aisuo Holdings (08585) showing significant increases in their high rates [1]. 52-Week Highs - Fire Rock Holdings (02975) achieved a closing price of 0.114 with a peak of 0.231, marking a high rate of 285.00% - Crocodile Garments (02977) closed at 0.085, reaching a high of 0.189, reflecting a high rate of 170.00% - Aisuo Holdings (08585) closed at 0.021, with a peak of 0.040, resulting in a high rate of 110.53% - Other notable stocks include: - Fulltech Electric Group Holdings (01750) with a high rate of 23.64% - Century United Holdings (01959) at 22.05% - Cassava Resources (00841) at 20.19% [1]. 52-Week Lows - The stock with the largest decline was Jia Jin Investment International (00310), which closed at 0.141, reaching a low of 0.137, resulting in a decline rate of -25.95% - Crown Central Properties (00193) closed at 0.168, with a low of 0.141, reflecting a decline rate of -18.02% - Lion Holdings (02562) had a closing price of 4.710, with a low of 4.680, showing a decline rate of -9.48% - Other significant declines include: - Huading Holdings (03398) at -7.14% - XL Two South Strategy - U (09799) at -5.96% [2].

Group 1: Domestic News - President Xi Jinping and US President Trump had a phone call, emphasizing the importance of stable and positive Sino-US relations and the need for cooperation to benefit both nations and the world [2] - The People's Bank of China (PBOC) conducted a 1 trillion yuan MLF operation, marking the ninth consecutive month of increased net issuance, aligning with market expectations [2] Group 2: Bond Market Dynamics - The interbank market saw significant participation from private enterprises, with over 5.3 billion yuan in sci-tech bonds issued, representing more than 10% of the total issuance in the interbank market [3] - The bond market experienced narrow fluctuations, with the yield on the 10-year government bond slightly decreasing to 1.8120% [9] Group 3: Credit Bond Events - Several companies announced delays in bond repayments, including Fanghai Holdings, which postponed the repayment of approximately 3.56 billion USD in overseas notes until May 2026 [11] - Other companies, such as Fangyuan Real Estate and Xian Construction Group, also reported adjustments to repayment dates or overdue debts, indicating potential credit risks in the market [12][18] Group 4: Convertible Bonds - The convertible bond market saw a collective rise in major indices, with the market's trading volume increasing significantly to 618.80 billion yuan, indicating a rebound following previous declines [19] - Notable individual convertible bonds, such as Zhuomei Convertible Bond, experienced a surge of 57%, while others like Tianci Convertible Bond saw declines [19]

Core Viewpoint - Baolong Properties (01238) announced that its wholly-owned subsidiary, Baolong Properties (Viking) Holdings Limited, is facing a winding-up petition in the Viking court, with the hearing further postponed to December 15, 2025, or the next available date before March 4, 2026, to allow the company and its subsidiaries additional time to negotiate and establish a restructuring support agreement with overseas creditors [1] Group 1 - The winding-up petition has been filed against Baolong Properties (Viking) Holdings Limited [1] - The hearing for the winding-up petition has been postponed to December 15, 2025, or the next available date before March 4, 2026 [1] - The postponement aims to provide the company and its subsidiaries extra time to discuss and finalize a restructuring support agreement with overseas creditors [1]

Core Viewpoint - Baolong Properties (01238) announced that its wholly-owned subsidiary, Baolong Properties (Viking) Holdings Limited, is facing a winding-up petition in the Viking court, with the hearing further postponed to December 15, 2025, or the next available date before March 4, 2026, to allow the company and its subsidiaries additional time to negotiate and establish a restructuring support agreement with overseas creditors [1] Group 1 - The winding-up petition has been postponed to provide more time for negotiations with overseas creditors [1] - The new hearing date is set for December 15, 2025, or the next available date before March 4, 2026 [1] - The postponement aims to facilitate the establishment of a restructuring support agreement [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 （於 開 曼 群 島 註 冊 成 立 之 有 限 責 任 公 司） （股 份 代 號：1238） 於 本 公 佈 日 期，執 行 董 事 為 許 健 康 先 生、許 華 芳 先 生、肖 清 平 先 生 及 張 洪 峰 先 生；非 執 行 董 事 為 許 華 芬 女 士；及 獨 立 非 執 行 董 事 為 歐 陽 寶 豐 先 生、梅 建 平 博 士、丁 祖 昱 博 士 及 劉 曉 蘭 女 士。 本公佈乃由寶龍地產控股有限公司（「本公司」）作出。茲提述本公司日期為2025年 3月7日、2025年3月31日、2025年5月12日 及2025年7月14日的公佈（「該等公佈」）， 內容有關本公司的全資附屬公司寶龍地產（維 京）控股有限公司於維京法庭被 提 出 ...

Core Viewpoint - The company reported a significant decline in contract sales for October 2025, indicating challenges in the real estate market [1] Group 1: Contract Sales Performance - The contract sales amount for October 2025 was approximately RMB 714 million, representing a year-on-year decrease of 35.62% [1] - The total contract sales for the ten months ending October 31, 2025, was about RMB 6.145 billion, reflecting a year-on-year decline of 42.81% [1] - The total contract sales area for October 2025 was approximately 66,960 square meters [1] - The total contract sales area for the ten months ending October 31, 2025, was around 537,974 square meters [1]

Core Viewpoint - The company reported a significant decline in contract sales for October 2025, indicating challenges in the real estate market [1] Group 1: Contract Sales Performance - The contract sales amount for October 2025 was approximately RMB 714 million, representing a year-on-year decrease of 35.62% [1] - The total contract sales for the ten months ending October 31, 2025, was about RMB 6.145 billion, showing a year-on-year decline of 42.81% [1] - The total contract sales area for October 2025 was approximately 66,960 square meters [1] - The total contract sales area for the ten months was around 537,974 square meters [1]