Core Viewpoint - The real estate industry is experiencing a significant debt restructuring process in early 2026, with multiple companies making important progress in their debt resolution efforts, indicating a continuation of the trend from 2025 [1][2]. Group 1: Debt Restructuring Progress - In January 2026, companies such as Vanke, Road King, and Fantasia have disclosed important developments in their debt restructuring [2][3]. - Vanke's debt restructuring plan includes a combination of fixed payments, cash buybacks, and interest prepayments, which has garnered high approval from bondholders [2]. - Fantasia's restructuring has entered a critical judicial phase, as indicated by a ruling from the Hong Kong High Court [3]. Group 2: Scale of Debt Restructuring - In 2025, significant progress was made in debt restructuring, with 21 distressed real estate companies completing their restructuring, amounting to a total debt relief of approximately 1.2 trillion yuan [5]. - Jin Ke Co., for instance, completed a judicial restructuring involving a debt scale of 147 billion yuan, marking it as the largest case in the industry [4]. - Sunac China and Country Garden have also successfully implemented their debt restructuring plans, with Sunac reducing its overall debt pressure by nearly 60 billion yuan [4]. Group 3: Policy Support - The "white list" financing mechanism has been crucial in supporting the debt restructuring efforts, allowing for a shift from relying on company credit to focusing on project assets [6][7]. - As of January 2026, the loan extension period for qualifying "white list" projects has been increased from 2.5 years to 5 years, providing companies with more financial flexibility [7]. - This policy change is expected to enhance the operational stability of quality private real estate companies, allowing them to diversify their business and mitigate risks [7].

Group 1: Debt Restructuring Progress - In January 2026, several real estate companies, including Vanke, Road King, and Fantasia, reported significant progress in debt restructuring, continuing the trend from 2025 [1][3] - In 2025, 21 distressed real estate companies completed debt restructuring, with a total debt relief of approximately 1.2 trillion yuan [1][6] - The restructuring efforts are seen as a transition from addressing immediate liquidity crises to a more comprehensive resolution of debt risks in the real estate sector [5] Group 2: Policy Support and Financing Mechanisms - The "white list" financing system for real estate projects was optimized in January 2026, extending the loan extension period from 2.5 years to 5 years, providing companies with more financial flexibility [1][8] - The "white list" system has facilitated over 7 trillion yuan in loan approvals by September 2025, supporting nearly 20 million housing units [7] - The recent policy changes are expected to benefit financially healthier private real estate companies, allowing them to stabilize operations and diversify their business [9] Group 3: Specific Company Developments - Vanke announced a bond buyback plan on January 21, 2026, offering to repay 40% of the principal of certain bonds while extending the remaining 60% for one year, which was well-received by bondholders [3][4] - Fantasia's restructuring has entered a critical judicial phase, with the Hong Kong High Court approving a meeting for creditors to discuss the restructuring plan [4] - Jin Ke Co. completed a judicial restructuring in December 2025, involving a debt scale of 147 billion yuan, marking it as the largest case in the real estate sector [5]

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依賴該等內容而引致之任何損失承擔任何責任。 (2)可能根據一般授權及特別授權發行新股份 – 1 – 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，亦 不 在 任 何 司 法 權 區 構 成 任 何 投 票 或 批 准 的 招 攬。 本 公 告 並 非 旨 在 以 直 接 或 間 接 方 式 於 或 向 美 國 或 有 關 發 佈、刊 發 或 派 發 屬 違 法 的 司 法 權 區 派 發。本 公 告 並 不 構 成 在 美 國 或 任 何 其 他 倘 無 根 據 當 地 證 券 法 律 登 記 或 符 合 資 格 即 屬 違 法 的 司 法 權 區，要 約 提 呈 出 售 任 何 證 券 或 邀 請 作 出 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 ...

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依賴該等內容而引致之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，亦 不 在 任 何 司 法 權 區 構 成 任 何 投 票 或 批 准 的 招 攬。 進一步延長有關票據的同意徵求屆滿期限 茲 提 述 本 公 司 日 期 為 二 零 二 五 年 十 二 月 二 日、二 零 二 五 年 十 二 月 十 七 日 及 二 零二五年十二月二十八日的公告（「該等公告」）及日期為二零二五年十二月二 日的同意徵求聲明（「同意徵求聲明」），內 容 有 關 同 意 徵 求。本 公 告 所 用 詞 彙 具 有 該 等 公 告 及 同 意 徵 求 聲 明 所 賦 予 的 相 同 涵 義。 – 1 – 進一步延長屆滿期限 根 據 同 意 徵 求 聲 明，本 公 司 保 留 延 長 屆 滿 期 限、終 止 同 意 徵 求 或 ...

Group 1 - The company Kaisa Group Holdings Limited (01638) announced a change in its auditor's name from "SFAI (HK) CPA Limited" to "ZSZH (HK) Fuson CPA Limited" [1] - The Chinese name of the auditor has also changed from "永拓富信会计师事务所有限公司" to "中审众环(香港)富信会计师事务所有限公司" [1] - This change will take effect from January 9, 2026 [1]

Core Viewpoint - Kaisa Group Holdings Limited (01638) announced a change in its auditor, with the English name changing from "SFAI(HK)CPA Limited" to "ZSZH(HK)Fuson CPA Limited" and the Chinese name changing from "永拓富信会计师事务所有限公司" to "中审众环(香港)富信会计师事务所有限公司," effective from January 9, 2026 [1] Group 1 - The company has officially changed its auditor [1] - The new English name of the auditor is "ZSZH(HK)Fuson CPA Limited" [1] - The new Chinese name of the auditor is "中审众环(香港)富信会计师事务所有限公司" [1]

Core Viewpoint - Kaisa Group Holdings Limited has announced a change in its auditor, effective January 9, 2026, with the English name changing from "SFAI(HK) CPA Limited" to "ZSZH(HK) Fuson CPA Limited" and the Chinese name changing from "永拓富信会计师事务所有限公司" to "中审众环(香港)富信会计师事务所有限公司" [1] Summary by Category - Auditor Change - The company has officially changed its auditor's English name to "ZSZH(HK) Fuson CPA Limited" [1] - The Chinese name of the auditor has been updated to "中审众环(香港)富信会计师事务所有限公司" [1] - This change will take effect on January 9, 2026 [1]

佳兆業集團控股有限公司 * （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1638） 核數師名稱變更 香港交易及結算所有限公司以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 表 明 不 會 就 本 公 告 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。 佳兆業集團控股有限公司（「本公司」）董事會（「董事會」）謹 此 宣 佈，本 公 司 核 數 師 的 英 文 名 稱 已 由「SFAI (HK) CPA Limited」變 更 為「ZSZH (HK) Fuson CPA Limited」， 而中文名稱已由「永 拓 富 信 會 計 師 事 務 所 有 限 公 司」變更為「中 審 眾 環（香 港）富 信 會 計 師 事 務 所 有 限 公 司」，自 二 零 二 六 年 一 月 九 日 起 生 效。 KAISA GROUP HOLDINGS LTD. 承董事會命 佳兆業集團控股有限公司 主席兼執行董事 郭英成 香 港， ...

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12月31日 狀態: 重新提交 致：香港交易及結算所有限公司 公司名稱: 佳兆業集團控股有限公司 呈交日期: 2026年1月8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) | 01638 | 說明 | | | | | | | | | | | 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 | | 0.1 | HKD | | 5,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.1 | HKD | | 5,000,000,000 | 本 ...

Key Points - A total of 120 stocks reached a 52-week high as of January 7, with the top three being Fengzhan Holdings (01826) at 53.98%, Yueneng Holdings (02992) at 53.33%, and Gaoke Bridge (09963) at 46.07% [1] - The highest closing price among these stocks was Fengzhan Holdings at 0.174, followed by Yueneng Holdings at 0.119 and Gaoke Bridge at 2.440 [1] - Other notable stocks that reached new highs include Macau Legend Development (02962) at 42.86% and Guangjun Group Holdings (08516) at 23.29% [1] 52-Week High Rankings - Fengzhan Holdings (01826) closed at 0.174 with a peak of 0.174, achieving a high rate of 53.98% [1] - Yueneng Holdings (02992) closed at 0.119 with a peak of 0.161, achieving a high rate of 53.33% [1] - Gaoke Bridge (09963) closed at 2.440 with a peak of 2.600, achieving a high rate of 46.07% [1] Additional Stocks - Other stocks that reached significant highs include: - Macau Legend Development (02962) with a high rate of 42.86% [1] - Guangjun Group Holdings (08516) with a high rate of 23.29% [1] - Yingde Holdings (08535) at 19.37% [1] - Junyu Foundation (01757) at 17.85% [1] - Delai Construction (01546) at 16.28% [1]