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: 2026年3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: 禹洲集團控股有限公司 呈交日期: 2026年4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) | 01628 | 說明 | 普通股 | | | | | | | | | | 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 | | 1 | HKD | | 10,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 1 | HKD | | 10,000,000,000 | 本月 ...

Financial Performance - Revenue for 2025 decreased by 30.52% year-on-year to RMB 6.751 billion[5] - Profit attributable to owners for 2025 was RMB 24.93 billion, compared to a loss of RMB 11.97 billion in 2024[6] - The company reported a net profit of RMB 21.25 billion for 2025, compared to a loss of RMB 14.77 billion in 2024[7] - Basic and diluted earnings per share for 2025 were RMB 2,414.22, compared to a loss of RMB 1,615.39 in 2024[6] - The company's total annual profit attributable to shareholders for the year ending December 31, 2025, is RMB 24,930,477,000[10] - Excluding one-time, non-cash, and non-core business gains, the company recorded an annual loss attributable to shareholders of RMB 9,717,926,000[10] - The group recorded a gross profit of RMB 117.49 million in 2025, a decline of 33.22% from RMB 175.94 million in 2024, with a gross margin decreasing from 1.81% to 1.74%[65] - The group recorded a fair value loss on investment properties of RMB 1.15876 billion in 2025, compared to RMB 1.04803 billion in 2024[66] Revenue Sources - Contract sales amount for 2025 was RMB 6.728 billion, a decline of 15.40% year-on-year[5] - Property sales revenue decreased to RMB 6,296,953,000 in 2025 from RMB 9,226,399,000 in 2024, representing a decline of approximately 31.3%[15] - The property sales revenue reached RMB 6,296,953,000, accounting for 93.27% of the total revenue, with an average sales price of RMB 9,047 per square meter[47] - The total contract sales amount for the year was RMB 6,728,330,000, a decrease of 15.40% year-on-year[44] Assets and Liabilities - Cash and bank balances, including restricted cash, decreased by 17.48% year-on-year to RMB 2.458 billion[5] - Total non-current assets as of December 31, 2025, were RMB 17.795 billion, down from RMB 20.892 billion in 2024[8] - Total current assets decreased from RMB 62.175 billion in 2024 to RMB 49.527 billion in 2025[8] - Total liabilities decreased significantly from RMB 94.802 billion in 2024 to RMB 57.265 billion in 2025[9] - Trade payables as of the end of the reporting period amounted to RMB 1,149,172,000 for 2025, a decrease from RMB 4,784,145,000 in 2024, indicating a significant reduction of approximately 76%[32] - The total amount of corporate bonds due in 2025 is RMB 1,692,000,000, down from RMB 1,800,000,000 in 2024, reflecting a decrease of about 6%[33] Cash Flow and Financing - The company will continue to monitor cash flow and engage with professional advisors to mitigate default risks on outstanding debts[13] - The financing costs for 2025 were RMB 3,084,650,000, a decrease from RMB 3,964,401,000 in 2024[23] - The total borrowings, including bank loans and bonds, decreased by 37.05% to approximately RMB 33.12 billion as of December 31, 2025, from RMB 52.62 billion in 2024, due to the foreign debt restructuring[82] - The net debt ratio as of December 31, 2025, was 304.96%, reflecting the total interest-bearing debt minus cash and cash equivalents relative to total equity[83] Strategic Initiatives - The company plans to accelerate property sales and improve collection rates of sales proceeds to alleviate liquidity pressure[10] - The company aims to implement asset disposal plans for investment properties to supplement liquidity[10] - The company plans to maintain strategic focus and resource integration through business optimization and equity divestments[10] - The company aims to enhance brand vitality and user interaction through innovative marketing strategies, resulting in a 27% year-on-year increase in sales and a 26% increase in foot traffic[55] - The company plans to continue its strategy of regional deep cultivation to optimize development in key areas for sustained revenue contributions[47] Market Conditions - The real estate market in 2025 is expected to continue adjusting, with a gradual recovery in market confidence and a marginal improvement in sales performance towards the end of the year[51] - The real estate market is expected to continue its critical phase of bottoming out and structural transformation in 2026, with a shift from "scale expansion" to "high-quality development" as per the national "14th Five-Year Plan"[118] - The logic of home purchasing among residents has shifted from "investment appreciation" to "residential value and asset security," which will have a lasting impact on the market[118] Employee and Organizational Management - The group has a total of 975 employees as of December 31, 2025, down from 1,012 in 2024[90] - The group aims to enhance organizational effectiveness and team vitality, focusing on talent selection, utilization, development, and retention[88] - The group emphasizes employee well-being and conducts various employee care activities[88] Corporate Governance - The board did not recommend any final dividends for the years ended December 31, 2025, and 2024[29] - The audit committee reviewed the accounting policies and the consolidated financial statements for the year ending December 31, 2025, with no disagreements noted between the board and the audit committee[115] - The company's auditor confirmed that the financial figures in the preliminary announcement were consistent with the draft annual consolidated financial statements[116]

Core Viewpoint - The article discusses the challenges faced by real estate companies in China regarding debt restructuring, highlighting that many firms lack the ability to pay restructuring-related costs and are experiencing slow progress in implementing these plans [1][2]. Group 1: Financial Performance and Debt Restructuring - Times China issued a profit warning, projecting a net loss of no more than 300 million yuan for 2025, a significant decrease from a loss of 16.61 billion yuan in 2024, primarily due to overseas debt restructuring gains [2]. - Kaisa Group expects a net profit of no less than 50 billion yuan for 2025, recovering from a loss of 28.5 billion yuan in 2024, also attributed to overseas debt restructuring gains [2]. - Other companies like Country Garden, Ocean Group, and Yuzhou Group reported significant improvements in net profit due to non-cash gains from debt restructuring, while firms that have not completed restructuring saw little improvement [2]. Group 2: Operational Challenges Post-Restructuring - Despite improvements in financial statements due to debt restructuring, companies are facing severe cash flow issues, leading to salary cuts and layoffs, with some employees experiencing delays in salary payments [4][5]. - The restructuring primarily focuses on debt reduction, with common methods including the replacement of debt with convertible bonds and cash payment options, although cash payments are minimal, typically ranging from 2% to 6% of total domestic debt [4][5]. - Many firms are struggling to meet cash payment obligations due to liquidity constraints, raising concerns about potential defaults despite having restructured their debts [5][6]. Group 3: Market Conditions and Sales Performance - The real estate market has seen a decline in sales, with average monthly sales dropping from 7-8 billion yuan to around 1 billion yuan, severely impacting cash flow for project construction [7][8]. - The tightening of pre-sale fund regulations has exacerbated the difficulties in cash recovery for many firms, including state-owned enterprises [7]. - Companies are facing challenges in asset disposal and recovering receivables, particularly from government-related debts, which are critical for completing debt restructuring [8]. Group 4: Historical Context of Debt Management - Since the liquidity crisis in late 2021, real estate companies have undergone a complex debt management process, initially relying on short-term extensions, followed by longer-term restructuring efforts [10][11]. - The current phase of debt restructuring focuses on significant debt reduction, with some firms achieving debt reduction rates exceeding 50%, and in some cases, up to 70-80% [10][11]. - As of August 2025, over 20 distressed firms have received approval for debt restructuring, with a total debt reduction exceeding 1.2 trillion yuan [11].

有關盈利預警之補充公告 茲提述禹洲集團控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）日期為2026年 3月16日內容有關盈利預警的公告（「該公告」）。除另有說明外，本補充公告所用詞彙與該 公告所界定者具有相同涵義。 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 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：01628） 截至2025年12月31日止年度，本集團預期錄得本公司擁有人應佔年度利潤約人民幣234億 元至人民幣254億元。撇除一次性重組收益及重估收益的影響，本集團仍將於本年度錄得 虧損，預期本公司擁有人應佔年度虧損約人民幣112億元至人民幣92億元，而2024年則錄 得本公司擁有人應佔年度虧損約人民幣120億元。 除上文披露的補充資料外，該公告所載的所有其他資料及內容維持不變。本公告為該公 告的補充公告，應與該公告一併閱讀。 香港，2026年3月19日 於本公告日期，本公司執行董事為郭英蘭女士（主席）及林聰輝先生；本公司非執行董事 ...

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 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 主席 郭英蘭 香港，2026年3月16日 於本公告日期，本公司執行董事為郭英蘭女士（主席）及林聰輝先生；本公司非執行董事 為林龍安先生 （太平紳士） 及林懷漢先生；及本公司獨立非執行董事為林廣兆先生、黃循強 先生及于上游先生。 禹洲集團控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議將於2026年 3月31日（星期二）於香港中環皇后大道中99號中環中心58樓5801-02室舉行，藉以（其中包 括）考慮及批准本公司及其附屬公司截至2025年12月31日止年度業績及其發佈。 承董事會命 禹洲集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：01628） 董事會會議通知 ...

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 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：01628） 主席 郭英蘭 本公司董事會（「董事會」）謹此告知本公司股東（「股東」）及本公司潛在投資者，基於對本 集團截至2025年12月31日止年度（「報告期」）未經審核綜合管理賬目及董事會目前可得的 其他資料的初步評估，本集團預期錄得年度利潤約人民幣198億元至人民幣218億元。本 年度由虧轉盈主要由於本年度錄得境外債務重組收益（「重組收益」）約人民幣326億元及 重新計量財務擔保合同約人民幣20億（「重估收益」）。該等收益屬一次性、非現金性及非 主營業務收益，不具有可持續性，對本集團經營業績不具有指導意義。如撇除前述一次性 重組收益及重估收益的影響，本年度仍錄得虧損，預期年度虧損約人民幣148億元至人民 幣128億元及本公司擁有人應佔年度虧損約人民幣112億元至人民幣92億元，而2024年則 錄得年度虧損約人民幣148億元及本公司擁有人應佔年度虧損約人 ...

上述已披露初步數據或會變更並可能與本集團按年度或半年度刊發的經審核或未經審核 綜合財務報表所呈現的數字存在差異。據此，有關數據僅供參閱而不作其他目的。投資者 在買賣本公司證券時務須小心謹慎，不可依賴前述已披露信息。投資者如有任何疑問應 向專業顧問徵求意見。 承董事會命 禹洲集團控股有限公司 主席 郭英蘭 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 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：01628） 截至2026年2月份未經審核營運數據 禹洲集團控股有限公司（「本公司」）欣然公佈本公司、附屬公司及聯屬公司（「本集團」） 2026年2月份的合約銷售金額為人民幣3.62億元；銷售面積為27,048平方米；平均銷售價 格為每平方米人民幣13,392元。 2026年前二個月，本集團實現累計銷售金額為人民幣8.92億元；累計銷售面積為70,881平 方米；平均銷售價格為每平方米人民幣12,591元。 香港，2026年3月10日 於本公告日期，本公司執 ...

Report Summary 1. Investment Rating The provided content does not mention the investment rating of the industry. 2. Core View - The market sentiment is dominated by risk - aversion, leading to a significant decline in US Treasury yields. The 10 - year and 2 - year US Treasury yields decreased by 15 and 10 basis points respectively last week to 3.94% and 3.37%. Although recent data shows a rebound in US inflation pressure, risk - aversion sentiment has overshadowed this, causing the yields to drop [1][2][3]. - The geopolitical conflict between the US, Israel and Iran has escalated, with the US and Israel launching military actions against Iran and Iran counter - attacking and blocking the Strait of Hormuz. This has led to a sharp rise in crude oil prices, which may affect inflation. The military action may last for four weeks, and in the short term, US Treasuries may remain volatile under the resonance of risk - aversion and rising inflation expectations. Higher - than - expected inflation data and the rise in energy prices triggered by geopolitical conflicts have further reduced the possibility of the Fed cutting interest rates in March [1][3]. - Driven by the significant decline in US Treasury yields, Chinese dollar - denominated bonds performed well last week, with the Bloomberg Barclays Chinese dollar - denominated bond total return index rising 0.4% for the week. Among them, the high - rating index rose 0.5% and the high - yield index rose 0.2% [1][3]. - In the on - shore market, after the Spring Festival, the central bank net - withdrew short - term liquidity of 611.4 billion RMB through reverse repurchase operations and net - injected long - term funds of 300 billion RMB through MLF over - renewal. Bank - to - bank funding rates have rebounded significantly compared to before the Spring Festival. The 3 - year and 10 - year Treasury yields were flat and up 2 basis points respectively compared to before the Spring Festival, reaching 1.38% and 1.82%. The domestic interest - rate bond market was also boosted by risk - aversion sentiment on Monday, with yields on Treasury bonds of various maturities generally declining. The Two Sessions will be held this week, and the 2026 economic targets, fiscal support, and possible release of more monetary policy signals will be priced in the bond market [1][4]. 3. Summary by Category Off - shore Market - The issuance of Chinese dollar - denominated bonds remained light, with only one new issuance of over $100 million for the whole week. In contrast, the issuance of off - shore RMB bonds was quite active, with a total issuance of 65.5 billion RMB for the whole week, mainly driven by the issuance of 50 billion RMB central bank bills by the People's Bank of China [2]. - The significant decline in US Treasury yields was due to the market being dominated by risk - aversion sentiment. Although recent inflation data in the US has rebounded, the geopolitical risk has significantly escalated, and the US Treasury market has priced in the war risk in advance [2][3]. On - shore Market - After the Spring Festival, funds flowed back to the banking system. The central bank adjusted the liquidity through reverse repurchase operations and MLF. Bank - to - bank funding rates increased, and the yields of 3 - year and 10 - year Treasury bonds changed compared to before the Spring Festival. The domestic interest - rate bond market was affected by risk - aversion sentiment, and the yields of Treasury bonds of various maturities declined. The upcoming Two Sessions may bring new economic and policy signals to the bond market [1][4]. List of Chinese Dollar - denominated Bonds The documents provide a detailed list of Chinese dollar - denominated bonds, including information such as issuers, guarantors, coupon rates, issuance amounts, maturities, and ratings [7][17][23].

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: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 禹洲集團控股有限公司 呈交日期: 2026年3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) | 01628 | 說明 | 普通股 | | | | | | | | | | 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 | | 1 | HKD | | 10,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 1 | HKD | | 10,000,000,000 | 本月 ...

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 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：01628） 終止協議 持續關連交易 茲提述禹洲集團控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）日期為2025年 12月31日之公告（「有關公告」），內容有關本公司與廈門縱橫集團於2025年12月31日訂立 之綜合服務總協議。除另有說明外，本公告所用詞彙與有關公告所界定者應具有相同涵 義。 經充分考慮整體業務規劃及其他商業因素（包括綜合服務總協議項下擬進行業務之潛在 利益及成本，以及獲得所需批准之複雜性）後，於2026年2月11日，本公司與廈門縱橫集團 相互同意及訂立一份終止協議（「終止協議」），據此，綜合服務總協議將自2026年2月11日 起終止（「終止事項」）。於終止事項後，廈門縱橫集團將停止向本集團提供綜合服務。自 2026年1月1日起至本公告日期止，綜合服務總協議項下並無產生任何交易金額。因此，由 於訂約方根據綜合服務總協議應付之金額低於 ...