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。 SUNAC SERVICES HOLDINGS LIMITED – 1 – 本公司股東及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 （於開曼群島註冊成立的有限公司） （股票代號：01516） 盈利預告 本公告乃由融創服務控股有限公司（「本公司」，連同其附屬公司統稱為「本集團」） 根據《香港聯合交易所有限公司證券上市規則》（「上市規則」）第13.09條及香港法例 第571章《證券及期貨條例》第XIVA部項下的內幕消息條文（定義見上市規則）作 出。 本公司董事（「董事」）會（「董事會」）謹此告知本公司股東及潛在投資者，基於本集 團截至2025年6月30日止六個月（「本期間」）未經審核綜合管理賬目的初步審閱以 及現時可得的資料，本集團預期錄得本期間未經審核的本公司擁有人應佔溢利不 低於人民幣1億元（2024年同期：本公司擁有人應佔虧損約人民幣4.72億元）。本公 司擁有人應佔溢利較去年同期增加，主 ...

Market Overview - Hong Kong stocks experienced volatility, with the Hang Seng Index closing down 0.21% at 25,122.9 points and a total turnover of 278.2 billion HKD [1] - The Hang Seng China Enterprises Index fell 0.3% to 9,006.23 points, while the Hang Seng Tech Index decreased by 0.67% to 5,542.03 points [1] Blue Chip Performance - China Resources Beer saw a significant increase of 6.24%, closing at 28.28 HKD, contributing 4.24 points to the Hang Seng Index [2] - The company reported a revenue of 23.942 billion RMB, a year-on-year increase of 0.83%, and a net profit attributable to shareholders of 5.789 billion RMB, up 23.04% [2] - Other notable blue chips included Zhongsheng Holdings, which rose 8.29%, and Hansoh Pharmaceutical, which increased by 4.75% [2] Sector Performance - Large tech stocks showed mixed results, with Tencent up 0.94% and Alibaba down 0.25% [3] - AI application stocks performed well, with Zhihu-W rising 23% and Fenbi increasing by nearly 14% [3] - The property management sector was active, with Wanwu Cloud rising 7.19% and Sunac Services increasing by 5.18% [4][5] Earnings Reports - Wanwu Cloud reported a revenue of 18.14 billion RMB, a 3.1% year-on-year increase, and a core net profit of 1.32 billion RMB, up 10.8% [5] - Kancheng Pharmaceutical reported a revenue of 1.569 billion RMB, a 23.7% increase, and a net profit of 498 million RMB, up 24.6% [8] - Li Auto announced a revenue of 24.25 billion RMB, a 174% increase, with a gross margin of 14.1% [9] Notable Stock Movements - Dongfang Zhenxuan experienced a significant drop of 20.89%, closing at 34.32 HKD, following rumors regarding its CEO [12] - Gilead Sciences saw a decline of 15.01% after announcing a share placement and a new share subscription at a discount [13]

截至2024年年报，融创服务营业总收入69.7亿元、净利润-4.51亿元。 8月18日，融创服务(01516)盘中上涨5.43%，截至10:36，报1.94元/股，成交3545.56万元。 融创服务控股有限公司专注于提供高品质物业管理和商业运营综合服务，覆盖住宅、商写、城市服务等 多个业态，致力于成为"中国品质服务首选品牌"。公司在核心城市中高端物业领域稳步发展，凭借创新 的服务模式和高端定制化服务，逐步确立行业领先地位。 8月25日，融创服务将披露2025财年中报。 本文源自：金融界 作者：行情君 ...

格隆汇8月13日丨融创服务(01516.HK)公告，公司将于2025年8月25日(星期一)举行董事会会议，以考虑 及批准(其中包括)公司及其附属公司截至2025年6月30日止6个月中期业绩及其发布。 ...

（於開曼群島註冊成立的有限公司） 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。 SUNAC SERVICES HOLDINGS LIMITED 融創服務控股有限公司 （股票代號：01516） 董事會會議召開日期 融創服務控股有限公司（「 本公司 」）董事會（「 董事會 」）謹此宣佈， 本公司將於 2025年8月25日（星期一）舉行董事會會議，以考慮及批准（其中包括）本公司及 其附屬公司截至2025年6月30日止六個月之中期業績及其發佈。 承董事會命 於本公告日期，董事會主席兼非執行董事為汪孟德先生；執行董事為曹鴻玲女士 及楊曼女士；非執行董事為路鵬先生及高曦先生；及獨立非執行董事為王勵弘女 士、姚寧先生及趙中華先生。 融創服務控股有限公司 主席 汪孟德 香港，2025年8月13日 ...

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: 融創服務控股有限公司 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) | 01516 | 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 | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/ ...

Core Viewpoint - The property management stocks in China are experiencing a collective decline, with expectations of continued slowdown in financial performance for the first half of 2025, primarily due to a sluggish residential market [1] Group 1: Stock Performance - Country Garden Services (06098) fell by 5.9% to HKD 6.54 - Yashlife Services (03319) decreased by 5.73% to HKD 2.96 - Wanwu Cloud (02602) dropped by 3.83% to HKD 22.6 - Sunac Services (01516) declined by 3.76% to HKD 1.79 [1] Group 2: Earnings Forecast - UBS forecasts that the average profit growth for property management companies will slow to 13% year-on-year in the first half of 2025, down from 17% in the first half of 2024 and 14% for the entire year of 2024 - This is below the market expectation of 15% growth, attributed to a slowdown in the residential market affecting managed area growth, collection rates, and service margins [1] Group 3: Market Analysis - Bank of America Securities noted that property management stocks have risen over 20% year-to-date, suggesting that the valuation recovery phase has ended [1] - CITIC Securities highlighted the presence of irrational price-cutting demands from some property owners, indicating intense competition within the industry - Despite this, leading companies have low market share, allowing for significant adjustments in their managed portfolios without a decline in profitability [1] Group 4: Policy and Competitive Landscape - Current policies discourage irrational competition and promote quality pricing, which is expected to stabilize collection rates, fee structures, and profitability for companies that focus on service reputation - There is optimism for companies with strong brand competitiveness in this environment [1]

Group 1 - The core viewpoint indicates that property management stocks in China are experiencing a collective decline, with significant drops in share prices for companies like Country Garden Services, Yashlife Services, Wanwu Cloud, and Sunac Services [1] - UBS forecasts that the financial performance of Chinese property management companies will continue to slow down in the first half of 2025, with an expected average profit growth rate of 13%, lower than the 17% growth in the first half of 2024 and 14% for the entire year of 2024, compared to market expectations of 15% [1] - The slowdown is attributed to a weakening residential market, leading to reduced growth in managed area, declining property fee collection rates, decreased value-added services from developers, and pressure on the gross profit margin of community value-added services [1] Group 2 - Bank of America Securities notes that property management stocks have risen over 20% year-to-date, suggesting that the valuation recovery phase has ended [1] - CITIC Securities highlights the presence of irrational price-cutting demands from some property owners, indicating a competitive environment within the industry [1] - Despite the competitive pressures, leading companies have low market share, providing significant room for adjustment in their managed portfolios, and the profitability of these top companies is not expected to decline due to competitive pressures [1] Group 3 - Current policies oppose irrational competition and encourage quality pricing, which is beneficial for companies in terms of collection rates, fee rates, and profitability [1] - Companies that focus on service reputation are viewed positively, with a favorable outlook for those with strong brand competitiveness [1]

Core Insights - The property management industry is experiencing a significant trend of companies voluntarily exiting projects due to various operational challenges and financial pressures [1][3][5] - The turnover rate of residential property management has increased from 1.7% in 2021 to 3.3% in 2024, indicating a growing willingness among homeowners to change property management companies [7][10] Group 1: Company Exits - China Overseas Property announced its exit from the Ezhou Shuangchuang Star community by August 31, 2025, due to low occupancy rates and high unpaid fees, with a total outstanding amount of 595,900 yuan as of January 2025 [1][4] - Jin Ke Service will withdraw from Chongqing Hengchun Phoenix City by August 31, 2025, citing reduced property fees and legacy issues from developers leading to losses [1][4] - Longfor Property is set to exit Shanghai Su Di Chun Xiao community by August 2025 due to unresolved historical issues causing operational risks [1][4] Group 2: Industry Trends - A report by CRIC shows that from 2021 to 2024, the residential property turnover rate has increased, suggesting a trend where approximately 20,000 residential communities change property management annually [2][7] - Many property management companies, including Wanwu Cloud, Shimao Service, and others, have publicly announced their termination and exit from various projects in their 2024 annual reports [2][3] - The ongoing dissatisfaction among homeowners regarding property services has led to a rise in the number of homeowners seeking to change property management companies [10][11] Group 3: Financial Pressures - The primary reasons for property management companies exiting projects include rising costs, declining collection rates, and insufficient growth in value-added services [5][6] - In 2024, Wanwu Cloud exited 53 residential projects, impacting a saturated income of 286 million yuan, while Shimao Service and others also reported significant areas of project exits [6][5] - Companies are increasingly focusing on high-quality growth, prioritizing high-capacity cities and quality clients, as evidenced by China Overseas Property's increase in new contract amounts in core urban areas [5][6]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a projected investment return exceeding the market benchmark by more than 15% over the next 6-12 months [5][8]. Core Insights - The company has made significant progress in restructuring its offshore debt, with approximately 82% of bondholders supporting the plan, which is expected to reduce reliance on related parties and enhance independent growth capabilities [1][2]. - The company reported a strong sales performance in May, with total sales amounting to 4.9 billion yuan, a year-on-year increase of 128% [1]. - The company aims to achieve stable growth by focusing on core cities, with a projected revenue of 7 billion yuan in 2023, slightly decreasing to 6.97 billion yuan in 2024, but expected to grow thereafter [4][7]. Summary by Sections Financial Performance - For 2024, the company anticipates revenue of 7 billion yuan, with a core net profit of 800 million yuan, maintaining a dividend payout of approximately 4.4 billion yuan, which is 55% of the core net profit [1][4]. - The gross margin for property management services is projected to be 20.9%, with overall gross margin declining by 1.9 percentage points to 21.9% due to increased service quality costs [3][4]. Business Structure and Growth - The company has significantly reduced its dependence on related parties, with third-party revenue expected to reach 6.8 billion yuan in 2024, accounting for 97.6% of total revenue [2]. - The company has a management area of 290 million square meters, with a project renewal rate of 95%, indicating a solid operational foundation [2]. Profitability Forecast - The company is projected to turn profitable by 2025, with net profit estimates revised to 420 million yuan for 2025 and 620 million yuan for 2027, reflecting a recovery trajectory [3][4].