Core Viewpoint - Guangdong-Hong Kong-Macau Holdings has successfully completed a debt restructuring plan, potentially becoming the first domestic real estate company to clear its offshore US dollar bonds amid a challenging real estate market and a wave of defaults [1][2]. Group 1: Debt Restructuring Details - On May 7, 2025, the company announced the successful modification of terms for approximately $440 million in bonds due in 2029, with a high approval rate of 98.33% [1]. - The restructuring plan involves issuing mandatory convertible bonds at 55% of the principal to redeem the existing US dollar bonds, along with a 0.15% cash consent fee and an additional 10% in convertible bonds as incentives for supportive investors [1][2]. - The conversion price for the convertible bonds is set at HKD 5.5 per share [1]. Group 2: Financial Impact - Following the redemption of the US dollar bonds through the convertible bonds, the company's interest-bearing debt ratio is projected to decrease significantly from 45.3% to 19.5%, optimizing its capital structure and reducing financial burdens [2]. - This proactive approach to debt restructuring demonstrates the management's forward-looking risk awareness and commitment to transformation [2]. Group 3: Future Strategy and Industry Implications - The company aims to enhance operational efficiency of quality assets, introduce new productive business lines, and leverage technological innovation to diversify its portfolio and improve profitability [3]. - The successful restructuring serves as a potential model for other domestic real estate companies facing debt challenges, showcasing a new approach to self-rescue and reform in the industry [3]. - This move may signal a rebuilding of confidence in the real estate sector as policies gradually support structural adjustments [3].

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，並明確表示概不就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，並不構成收購、購買或認購證券的邀請或要約。本公告並不構成在美國購買或認購 證券的任何要約或招攬或其一部份。證券並無亦不會根據 1933 年美國證券法（經修訂）（「 證券法 」） 或於美國任何州或其他司法權區的任何證券監管機構登記。證券根據證券法 S 規例於美國以外地區發 售及出售，而除非根據證券法登記或獲豁免登記，否則不得在美國提呈或出售。概不會於美國或有關 提呈發售受限制或禁止的任何其他司法權區進行公開發售。於美國公開發售的任何證券將以招股章程 形式進行，有關招股章程可向本公司索取，並將載有關於本公司及管理層的詳細資料以及財務報表。 本公司無意於美國登記任何部分提呈發售。 GUANGDONG–HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵 港 灣 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1396） - 1 - 有關 ...

Group 1 - The Hang Seng Index rose by 1.74% to close at 22,504.68 points on May 2 [1] - Yue Gang Wan Holdings (01396.HK) closed at HKD 1.68 per share, up 35.48%, with a trading volume of 3.7026 million shares and a turnover of HKD 5.6252 million, showing a volatility of 40.32% [1] - Over the past month, Yue Gang Wan Holdings has seen a cumulative increase of 58.97%, and a year-to-date increase of 767.13%, outperforming the Hang Seng Index's increase of 10.27% [1] Group 2 - As of December 31, 2024, Yue Gang Wan Holdings reported total revenue of CNY 2.603 billion, a year-on-year decrease of 26.28%, and a net profit attributable to shareholders of -CNY 1.835 billion, a year-on-year decrease of 51.03% [1] - The company's gross profit margin was -23.93%, and its debt-to-asset ratio stood at 99.21% [1] - Currently, there are no institutional investment ratings for the stock [1] Group 3 - The average price-to-earnings (P/E) ratio for the real estate industry (TTM) is 4.67 times, with a median of -0.15 times [1] - Yue Gang Wan Holdings has a P/E ratio of -0.51 times, ranking 200th in the industry [1] - Other companies in the industry include Baishida Holdings (01168.HK) at 0.28 times, Hengda Group Holdings (03616.HK) at 1.71 times, Meilian Group (01200.HK) at 2.22 times, Zhongao Daijia (01538.HK) at 2.76 times, and Ruishen Life Services (01922.HK) at 2.82 times [1] Group 4 - Yue Gang Wan Holdings Limited (formerly Yide International Holdings) is listed on the Hong Kong Stock Exchange (stock code: 01396.HK) and is ranked among the top 50 real estate companies in the Greater Bay Area, holding the 19th position [2] - The company aims to create a harmonious ecosystem among customers, enterprises, government, employees, and the natural environment, focusing on the Greater Bay Area as its strategic base [2] - In 2020, the company redefined its strategy and positioning as a "new ecological urban service provider," emphasizing urban renewal, industrial parks, characteristic towns, quality communities, and commercial services [2]

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 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，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 及 其 任 何 副 本 概 不 得 直 接 或 間 接 在 美 國（包 括 其 領 土 及 屬 地、美 國 任 何 州 及 哥 倫 比 亞 特 區），或 在 刊 發 或 派 發 本 公 告 屬 違 法 的 任 何 其 他 司 法 權 區 刊 發 或 派 發。 本公告並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登記 或 合 資 格 前 作 出 有 關 提 呈、要 約 或 出 售 則 屬 不 合 法 的 司 法 權 區 提 呈 出 售 或 提 呈 購 買 任 何 證 券 的 要 約。倘 無 登 記 或 獲 適 用 豁 免 登 記 規 定，證 券 不 得 在 美 國 提 呈 或 出 售。於 美 國 公 開 發 售 ...

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，並明確表示概不就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，並不構成收購、購買或認購證券的邀請或要約。本公告並不構成在美國購買或認購證 券的任何要約或招攬或其一部份。證券並無亦不會根據 1933 年美國證券法（經修訂）（「證券法」）或 於美國任何州或其他司法權區的任何證券監管機構登記。證券根據證券法 S 規例於美國以外地區發售及 出售，而除非根據證券法登記或獲豁免登記，否則不得在美國提呈或出售。概不會於美國或有關提呈發 售受限制或禁止的任何其他司法權區進行公開發售。於美國公開發售的任何證券將以招股章程形式進行， 有關招股章程可向本公司索取，並將載有關於本公司及管理層的詳細資料以及財務報表。本公司無意於 美國登記任何部分提呈發售。 GUANGDONG–HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵 港 灣 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1396） 海外監管公告 本海外 ...

HOLDINGS LIMITED 粵港灣控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1396） 須予披露交易 出售目標股權 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，並明確表示概不就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之任何損失承擔任何責任。 GUANGDONG - HONG KONG GREATER BAY AREA 出售目標股權 於 2025 年 4 月 25 日（聯交所交易時段後），賣方（本公司直接全資附屬公司）與 買方訂立有關出售事項的股份轉讓協議。根據股份轉讓協議， 賣方有條件同意出 售，而買方有條件同意購買目標股權，代價為港幣 50.0 百萬元。 出售事項完成後，本集團將不再持有目標公司任何股權，目標集團將不再是本集團 附屬公司，而目標集團的財務業績將不再併入本集團的綜合財務報表。 上市規則的涵義 由於有關出售事項的其中一項或多項根據上市規則第 14.07 條計算的適用百分比率 超過 5%但低於 25%，故出售事項構成上市規則第 14 章項下本公司的一項須予披露 交易，須遵守上市規則第 14 章 ...

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通告的內容概不 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 通 告 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 GUANGDONG – HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵港灣控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1396） 股東週年大會通告 茲通告 粵 港 灣 控 股 有 限 公 司（「本公司」）謹 訂 於2025年6月20日（星 期 五）上 午10時 30分於中國深圳市羅湖區鴻隆世紀廣場A座32層 舉 行 股 東 週 年 大 會（「股東週年 大 會」），以 處 理 下 列 事 項： 普通決議案 – 1 – 1. 省覽及考慮截至2024年12月31日 止 年 度 本 公 司 經 審 核 綜 合 財 務 報 告、本 公 司 董 事（「董 事」）報 告 書 及 本 公 司 獨 立 核 數 師 報 告； 2. (a) 重 選 何 飛 先 生 為 執 行 董 事； (b) 重 選 魏 海 ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢 閣下的股票經紀或其他註冊證券交易 商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已將名下的粵港灣控股有限公司股份全部售出或轉讓，應立即將本通函及隨附的代表委任表格 送交買方或承讓人，或持牌證券交易商或證券註冊機構、或通過其進行銷售或轉讓的其他代理人，以 便轉交買方或承讓人。 香港交易及結算所有限公司及聯交所對本通函的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，對於因本通函或因依賴本通函全部或任何部分內容而引起的任何損失，恕不承擔任 何責任。 GUANGDONG – HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵港灣控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1396） (I)建議發行股份及購回股份的一般授權 (II)建議重選董事 (III)建議續聘核數師 及 (IV)股東週年大會通告 本封面上使用的大寫術語與本通函所定義的含義相同。 董事會函件載於本通函4至10頁。召開股東週年大會的通告載於本通函的AGM-1至AGM-6頁，通告將 於2025年6月 ...

Financial Performance - The Group recorded contracted sales amount of approximately RMB1,157.1 million for FY2024, a decrease of approximately 46.0% compared to RMB2,143.8 million in FY2023[18]. - The Group's revenue for FY2024 was approximately RMB2,602.7 million, down from approximately RMB3,530.5 million in FY2023, primarily due to a shift in the trading business model[19]. - Revenue from property development and related services increased by 55.8% to approximately RMB2,602.7 million in FY2024, compared to RMB1,670.7 million in FY2023, driven by an increase in the area of properties delivered[19]. - The Group recorded a gross loss of approximately RMB622.7 million in FY2024, compared to a gross profit of approximately RMB21.2 million in FY2023, attributed to unfavorable market conditions in the real estate sector[25]. - The loss before taxation for FY2024 was RMB 1,574,995, worsening from a loss of RMB 1,026,708 in FY2023[73]. - The Group's net assets fell to RMB 100,207, down from RMB 2,244,433 in 2023, indicating a decline of 95.5%[74]. Cost and Expenses - The total cost of sales for FY2024 was approximately RMB3,225.4 million, representing an increase of 95.0% from RMB1,653.7 million in FY2023, largely due to increased delivered area and a significant decrease in average selling price[20]. - Selling and distribution costs decreased by 42.8% to approximately RMB66.2 million in FY2024 from RMB115.8 million in FY2023, aligning with a 46.0% drop in contracted sales[27]. - Administrative expenses fell by 51.1% to approximately RMB79.1 million in FY2024 from RMB161.9 million in FY2023, due to cost-cutting measures in response to adverse market conditions[28]. - Impairment losses recognized in FY2024 were approximately RMB417.2 million, up from RMB292.4 million in FY2023, reflecting further declines in asset values[29]. - Other losses for FY2024 amounted to approximately RMB248.0 million, while FY2023 recorded other gains of approximately RMB208.9 million[26]. Assets and Liabilities - As of December 31, 2024, the total land bank with confirmed land use rights was approximately 4.8 million sq.m., down from 7.3 million sq.m. as of December 31, 2023[18]. - The total assets less current liabilities decreased to RMB 4,854,693 from RMB 6,616,920 in 2023, reflecting a decline of 26.5%[74]. - Current assets dropped significantly to RMB 11,021,786 from RMB 16,186,827, a decrease of 31.9%[74]. - The Group's bank loans and other borrowings as of December 31, 2024, were approximately RMB2,360.6 million, a decrease from RMB2,995.5 million as of December 31, 2023[47]. - Total borrowings amounted to RMB 5,728.0 million, a decrease of approximately 10.2% from RMB 6,376.3 million in 2023[48]. - Contingent liabilities related to mortgage guarantees decreased to approximately RMB 1,896.4 million in 2024 from RMB 2,449.6 million in 2023, reflecting a reduction of about 22.5%[50]. Financing and Capital Management - The Group aims to actively expand financing channels and improve its maturity profile to reduce financing costs and strengthen fund management[69]. - Finance costs in FY2024 were approximately RMB68.0 million, a significant decrease of 76.8% from RMB293.2 million in FY2023, primarily due to reduced bank loans and interest expenses[36]. - Capital commitments for construction and development contracts as of December 31, 2024, were RMB 1,638.2 million, down from RMB 2,883.7 million in 2023, indicating a decline of approximately 43.1%[53]. - The current ratio improved slightly to 1.41 in 2024 from 1.39 in 2023, while the gearing ratio increased to 45.3% from 35.0%, indicating a higher level of financial leverage[55]. Workforce and Operations - The Group's total staff costs for FY2024 were approximately RMB 58.4 million, a significant decrease of about 43.6% compared to RMB 103.6 million in FY2023[62]. - The Group had 194 employees as of December 31, 2024, down from 241 employees in 2023, reflecting a reduction in workforce[66]. - The Group continues to focus on property development and urban renewal projects in the Greater Bay Area[77]. Corporate Governance and Compliance - The Board does not recommend the payment of a final dividend for FY2024, consistent with FY2023[89]. - The Company has received annual confirmations of independence from all independent non-executive Directors[133]. - The Covenantors have confirmed compliance with the Non-Competition Deed during FY2024[145]. - The Company has a three-year service contract with each Director, with no contracts that are not determinable within one year without compensation[134]. - No Directors had material beneficial interests in any significant contracts or transactions related to the Group's business during FY2024[135]. Share Capital and Options - The maximum number of shares that may be issued under the Share Option Scheme is 40,148,440 shares, representing approximately 8.85% of the total issued shares of the Company[110]. - As of 31 December 2024, the total number of outstanding shares involved in the Share Option Scheme was 1,282,500 shares, representing approximately 0.16% of the shares in issue of the Company[127]. - The exercise price per share for the outstanding share options is HK$4.6784, determined by the Board[120]. - The total number of outstanding share options as of December 31, 2024, is 1,282,500 after accounting for lapses and cancellations[128]. - The Company entered into subscription agreements for a total of 89,000,000 new Shares at a subscription price of HK$0.1 per Share, resulting in gross proceeds of HK$8,900,000[183][185]. Market Outlook - The government is expected to continue efforts to stabilize the real estate market, including reducing housing loan interest rates and transaction fees, which may positively impact the Group's operations[67]. - The Directors believe that the fundraising activities are strategically significant for the Group's growth and development[198].

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，並明確表示概不就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，並不構成收購、購買或認購證券的邀請或要約。本公告並不構成在美國購買或認購證 券的任何要約或招攬或其一部份。證券並無亦不會根據 1933 年美國證券法（經修訂）（「 證券法 」）或 於美國任何州或其他司法權區的任何證券監管機構登記。證券根據證券法 S 規例於美國以外地區發售及 出售，而除非根據證券法登記或獲豁免登記，否則不得在美國提呈或出售。概不會於美國或有關提呈發 售受限制或禁止的任何其他司法權區進行公開發售。於美國公開發售的任何證券將以招股章程形式進行， 有關招股章程可向本公司索取，並將載有關於本公司及管理層的詳細資料以及財務報表。本公司無意於 美國登記任何部分提呈發售。 承董事會命 粵港灣控股有限公司 主席兼執行董事 GUANGDONG–HONG KONG GREATER BAY AREA HOLDINGS LIMITED 粵 港 灣 控 股 有 限 公 司 （於開曼群島註冊成立的有限 ...