宏安地產有限公司 （於百慕達註冊成立之有限公司） （股份代號：1243） 各位非登記股東 （附註1） ： 於本公司網站刊登公司通訊之通知 謹此通知 閣下，Wang On Properties Limited宏安地產有限公司（「本公司」）之下述公司通訊 （附註2） （「本次公司通 訊」）之英文及中文版本，現已載列於本公司網站www.woproperties.com及香港聯合交易所有限公司（「聯交所」）網站 www.hkexnews.hk： WANG ON PROPERTIES LIMITED 請注意， 閣下在填寫及交回申請表格以索取本次公司通訊的印刷本後，即表示 閣下確認選擇收取所選語言的所 有日後公司通訊印刷本。 倘 閣下對本通知有任何疑問，請致電香港股份過戶登記分處諮詢熱線(852) 2980 1333查詢，辦公時間為星期一至星 期五（香港公眾假期除外）上午九時正至下午六時正。 代表 WANG ON PROPERTIES LIMITED 宏安地產有限公司 執行董事兼公司秘書 姚智文 謹啟 二零二五年十二月二十三日 附件 附註： • 截至二零二五年九月三十日止六個月的中期報告 請於本公司網站「投資者關係」一欄 ...

WANG ON PROPERTIES LIMITED 宏安地產有限公司 （於百慕達註冊成立之有限公司） （股份代號：1243） 各位現有登記股東： 於本公司網站刊登公司通訊之通知 謹此通知 閣下，Wang On Properties Limited宏安地產有限公司（「本公司」）之下述公司通訊（「本次公司通訊」） 之英文及中文版本，現已載列於本公司網站www.woproperties.com 及香港聯合交易所有限公司（「聯交所」）網站 www.hkexnews.hk；或本次公司通訊之印刷本已按 閣下所選擇之語言版本隨件附上（如適用）： • 截至二零二五年九月三十日止六個月的中期報告 請於本公司網站「投資者關係」一欄或聯交所網站內或參考隨附之印刷本（如適用）讀取本次公司通訊。 倘 閣下因任何原因在收取或讀取本公司網站所載列的本次公司通訊時有任何困難，本公司將在接獲 閣下要求 時，盡快向 閣下免費寄發本次公司通訊的印刷本。 閣下請於隨附之變更申請表格（「變更申請表格」）（變更申請表 格下方附有郵資已付郵寄標籤）甲部適當空格內劃上「✓」號。倘 閣下欲更改收取本公司所有日後公司通訊（「公司通 訊」） （附註） 之語言版 ...

WANG ON PROPERTIES LIMITED 宏安地產有限公司 （於百慕達註冊成立之有限公司） （股份代號：1243） 各位新登記股東： 選擇公司通訊之收取方式及語言版本 為響應環保以提升與 閣下的溝通效率及節省印刷及郵遞費用，Wang On Properties Limited宏安地產有限公司 （「本公司」）鼓勵及建議 閣下選擇於本公司網站www.woproperties.com閱覽本公司所有日後刊載之公司通訊 （「公司通訊」）（「網上版本」）以代替收取印刷本。「公司通訊」指本公司已刊發或將予刊發以供 閣下參照或採 取行動之任何文件，包括但不限於(i)董事會報告、年度賬目連同獨立核數師報告及（如適用）財務摘要報告； (ii)中期報告及（如適用）中期摘要報告；(iii)會議通告；(iv)上市文件；(v)通函；及(vi)代表委任表格。 根據香港聯合交易所有限公司（「聯交所」）證券上市規則第2.07A及2.07B條以及遵守本公司的公司細則， 請 閣下填寫及簽署隨函附奉的回條（「回條」），並將其寄回或親身交回本公司的香港股份過戶及轉讓登記分 處（「香港股份過戶登記分處」）卓佳證券登記有限公司（地址為香港夏愨 ...

CORPORATE INFORMATION 公司資料 CONTENTS 目錄 宏安地產有限公司 • 二零二五年中期報告 1 CONTENTS 目錄 2 Corporate Information 公司資料 5 Interim Dividend 中期股息 5 Management Discussion and Analysis 管理層討論及分析 23 Disclosure of Interests 權益披露 26 Share Option Scheme 購股權計劃 27 Corporate Governance and Other Information 企業管治及其他資料 31 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 簡明綜合損益及其他全面收益表 33 Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表 36 Condensed Consolidated Statement of Changes in Equi ...

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 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) | 01243 | 說明 | WANG ON PPT | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.001 | HKD | | | 50,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.001 | HKD | | | 50,000,000 | 本月底法定/註冊股本總額： HKD 50,000,000 FF301 ...

Core Viewpoint - Macro Properties (01243) reported an increase in revenue but also faced significant losses for the six months ending September 30, 2025, indicating challenges despite revenue growth [1] Financial Performance - The company achieved revenue of HKD 608 million, representing a year-on-year increase of 37.55% [1] - The loss attributable to equity holders of the parent amounted to HKD 384 million, compared to a profit of HKD 96.9 million in the same period last year [1] - Basic loss per share was HKD 0.0253 [1] Revenue Drivers - The increase in revenue was primarily due to higher sales and successful delivery of completed residential projects during the reporting period [1] Loss Factors - The loss attributable to equity holders was mainly due to losses from the sale of partial interests in joint ventures, write-downs of properties held for sale, and a decrease in share of profits from joint ventures [1]

Core Viewpoint - Macro Properties (01243) reported a revenue of HKD 608 million for the six months ending September 30, 2025, representing a year-on-year increase of 37.55%. However, the company recorded a loss attributable to equity holders of HKD 384 million, compared to a profit of HKD 96.9 million in the same period last year, resulting in a basic loss per share of HKD 0.0253 [1] Revenue Performance - The increase in revenue is primarily attributed to higher sales and successful delivery of completed residential projects during the reporting period [1] Loss Attribution - The loss attributable to equity holders is mainly due to losses from the sale of partial interests in joint ventures, write-downs of properties held for sale, and a decrease in profits from joint ventures [1]

Core Viewpoint - Hongan Real Estate (01243.HK) reported a significant increase in revenue for the six months ending September 30, 2025, with a revenue of approximately HKD 608 million, representing a 37.5% increase compared to HKD 442 million for the same period in 2024 [1] Financial Performance - The company recorded a loss attributable to equity holders of approximately HKD 384 million during the reporting period, compared to a profit of approximately HKD 96.9 million for the six months ending September 30, 2024 [1] - The loss was primarily due to losses from the sale of partial interests in joint ventures, write-downs of properties held for sale, and a decrease in profits from joint ventures [1] Future Outlook - The company plans to continue selling unsold residential units and commercial properties, employing flexible strategies to seize market opportunities while maintaining prudent financial discipline [1] - With a focus on diversifying asset classes and executing projects efficiently, the company is well-positioned for sustained growth as market conditions gradually improve, aiming to create long-term value for stakeholders [1]

Financial Performance - Contracted sales (including joint ventures) increased by 31% to HKD 1,637 million compared to HKD 1,247 million in the previous year[2] - Revenue rose by 38% to HKD 608 million from HKD 442 million year-on-year[2] - The company reported a gross loss of HKD 17 million, a significant decline from a gross profit of HKD 93 million in the previous period, representing a 118% decrease[2] - Loss attributable to equity holders of the parent was HKD 384 million, a 496% increase from a profit of HKD 97 million in the prior year[2] - Basic and diluted loss per share was HKD 2.53, compared to earnings of HKD 0.64 per share in the previous year, marking a 495% decline[2] - The company recorded a net loss of HKD 465 million for the period, compared to a profit of HKD 95 million in the previous year[5] - The group reported a loss before tax of HKD 465,488,000, compared to a profit of HKD 94,884,000 in the prior year[11] - The company recorded a gross loss of approximately HKD 16,600,000 for the reporting period, compared to a gross profit of HKD 92,700,000 in the same period of 2024, due to lower average selling prices[31] - The company recorded a loss attributable to equity holders of approximately HKD 384.2 million, compared to a profit of HKD 96.9 million for the six months ended September 30, 2024, primarily due to losses from the sale of joint venture interests and property write-downs[39] Assets and Liabilities - Net asset value decreased by 14% to HKD 2,956 million from HKD 3,423 million[2] - The company's total non-current assets decreased to HKD 3,747 million from HKD 3,991 million[6] - Current assets dropped to HKD 2,796 million from HKD 3,279 million, reflecting a significant reduction in liquid assets[6] - Total liabilities decreased from HKD 3,847 million to HKD 3,588 million, indicating a reduction in financial obligations[7] - As of September 30, 2025, the group's total assets minus current liabilities amount to approximately HKD 5,632,100,000, with a current ratio of about 3.1[58] - The group's total bank borrowings as of September 30, 2025, are approximately HKD 2,707,300,000, with a debt ratio of about 76.2%[59] - The group has a capital commitment of approximately HKD 1,333,800,000 as of September 30, 2025, reflecting a slight increase from HKD 1,308,400,000 as of March 31, 2025[60] Revenue Sources - For the six months ended September 30, 2025, total revenue was HKD 607,514,000, a 37.5% increase from HKD 441,667,000 in the same period of 2024[12] - Property development revenue reached HKD 590,888,000, up 38.1% from HKD 427,856,000 year-on-year[11] - Revenue from property sales increased by approximately 38.1% to about HKD 590,888,000, driven by the sale and delivery of residential projects[28] - Revenue from asset management services rose by approximately 23.1% to about HKD 15,993,000, attributed to increased construction activities in joint ventures[29] - Other income and gains decreased to HKD 13,998,000 from HKD 24,333,000 year-on-year[12] - Interest income from bank deposits fell to HKD 1,243,000 from HKD 3,997,000 year-on-year[12] Sales and Projects - The total contracted sales for residential projects amounted to approximately HKD 1,637.2 million, representing an increase of about 31.3% compared to HKD 1,247.0 million for the same period last year[40] - The total area of contracted sales was approximately 58,320 square feet, reflecting a year-on-year growth of about 29.0% from 45,201 square feet[40] - The project FINNIE has achieved total contracted sales of approximately HKD 598.1 million, with 86 out of 90 residential units sold, representing about 95.6% of total units[41] - The project MOUNT POKFULAM has achieved total contracted sales of approximately HKD 912.7 million, with 4 out of 7 residential units sold, representing about 57.1% of total units[43] - The project PHOENEXT has achieved total contracted sales of approximately HKD 1,124.5 million, with all residential units sold, including sales of approximately HKD 305.9 million during the reporting period[44] - The project COASTO has achieved total contracted sales of approximately HKD 534.9 million, with 91 out of 93 residential units sold, representing about 97.8% of total units[45] - The project 101 KINGS ROAD has achieved total contracted sales of approximately HKD 1,760.1 million, with 188 out of 251 residential units sold, representing about 74.9% of total units[46] Corporate Governance - The company has complied with the Corporate Governance Code except for the absence of a chairman since February 8, 2021, and is actively seeking a suitable candidate[76] - Following the resignation of Mr. Li Yongsen, the board will consist of five directors, including three executive directors and two independent non-executive directors, effective from August 19, 2025[77] - The audit committee currently has two members, both of whom are independent non-executive directors, which does not meet the minimum requirement until November 14, 2025, when a new independent non-executive director is appointed[77] - The company emphasizes high standards of corporate governance, focusing on transparency, accountability, integrity, and independence to enhance competitiveness and operational efficiency[77] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2025[79] - The mid-term financial results announcement will be published on the Hong Kong Stock Exchange and the company's website, containing all information required by the listing rules[80] - The company has adopted a code of conduct for directors' securities transactions, which is in line with the standards set out in the Listing Rules[78] - The board of directors includes executive directors Mr. Deng Haokang, Ms. Cheng Deyun, and Mr. Yao Zhiwen, along with independent non-executive directors Mr. Song Zihua, Dr. Chen Haohua, and Ms. He Yaling[81] Sustainability and Future Plans - The group has established approximately HKD 3,800,000,000 in sustainability performance-linked loans and approximately HKD 1,600,000,000 in green loans, reflecting its commitment to sustainable development[71] - The group aims to expand its business in the student accommodation sector based on the successful foundation of the "日新舍" brand, leveraging its asset management expertise[55] - The group is actively seeking investment opportunities for asset upgrades and tenant mix optimization to enhance rental income stability amid a recovering commercial property market[69] - The group plans to continue selling unsold residential units and commercial spaces while maintaining prudent financial discipline to capitalize on market opportunities[70] - The group anticipates further expansion of its property management business due to an increase in residential project deliveries[56] - The group has established a framework agreement with AG for further joint ventures, with total investment commitments of USD 100,000,000 and USD 18,000,000 respectively[55] Employment and Operations - The group has 167 employees in Hong Kong as of September 30, 2025, an increase from 141 employees as of March 31, 2025[66] - The group manages nine projects as of the announcement date, with the addition of a new project, The Parkside, which is expected to enhance operational efficiency and tenant experience[56] - The overall occupancy rate of the group's investment properties exceeds 98%, excluding the recently acquired hotel, which is expected to be converted into student accommodation providing 226 beds by mid-2026[52] - The group has established a joint venture with AG to acquire and operate a property in Kowloon, which will offer a total of 720 rooms and 1,424 beds, achieving full occupancy status starting from the second academic year in September 2025, with rental income increasing by approximately 11.0% compared to the first academic year[54]

Core Viewpoint - The company anticipates a significant loss for the six months ending September 30, 2025, primarily due to strategic asset sales aimed at enhancing liquidity and positioning for future growth opportunities [1][2] Group 1: Financial Performance - The company expects a consolidated loss attributable to shareholders of no more than 390 million HKD for the six months ending September 30, 2025, compared to a profit of approximately 96.9 million HKD for the same period in 2024 [1] - The gross profit is projected to decline from 92.7 million HKD for the six months ending September 30, 2024, to a gross loss of approximately 16.6 million HKD in the current period, reflecting a decrease in property sales profitability [1] - The share of profits from joint ventures is expected to decrease from 249 million HKD for the six months ending September 30, 2024, to about 63.6 million HKD in the current period, primarily due to the ongoing downturn in the commercial real estate market [1] Group 2: Strategic Decisions - The strategic decision to sell a 20% stake in a hotel project resulted in a loss of approximately 208 million HKD, aimed at reallocating resources to seize future investment opportunities and expand into high-potential projects [1] - The company has successfully converted the sold property into student accommodation, achieving high occupancy rates and stable operational performance, which supports the rationale behind the sale [1] - The asset sales, despite resulting in accounting losses, have provided immediate cash inflow and significantly reduced net debt by approximately 1.202 billion HKD, a decrease of about 30.1% [2] Group 3: Sales and Future Outlook - The company achieved a record high in contracted sales totaling approximately 1.637 billion HKD, a substantial increase of about 31.3% compared to 1.247 billion HKD in the same period of 2024 [2] - As of September 30, 2025, the company has approximately 2.674 billion HKD in contracted but unrecognized sales, which is expected to be recognized as revenue upon completion and delivery of the related property projects [2]