KWG GROUP(01813)

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合景泰富集团(01813)发布中期业绩,股东应占亏损20.53亿元,同比减少75.03%
智通财经网· 2025-08-28 13:15
Core Viewpoint - The company reported a significant decline in revenue and an increase in losses for the interim period ending June 30, 2025, indicating ongoing challenges in the property development sector [1] Financial Performance - The company achieved revenue of 3.792 billion, representing a year-on-year decrease of 27.54% [1] - The loss attributable to shareholders was 2.053 billion, which is a reduction of 75.03% compared to the previous year [1] - Basic loss per share was reported at 0.60 [1] Property Development - Revenue from property development decreased by 30.5% compared to the same period in 2024 [1] - The total delivered gross floor area fell from 398,698 square meters in the first half of 2024 to 348,103 square meters in the first half of 2025 [1]
合景泰富集团(01813) - 2025 - 中期财报
2025-08-28 13:06
[Company Information](index=3&type=section&id=Company%20Information) This section outlines the company's governance structure, key personnel, registered offices, financial partners, and public listing details [Board of Directors](index=3&type=section&id=Board%20of%20Directors) The Board of Directors comprises executive directors Kong Kin Man (Chairman), Kong Kin To (CEO), Kong Kin Nam, Choi Fung Ka, and independent non-executive directors Tam Chun Fai, Lo Yiu Wing, Wong Man Ming, with a change in company secretary on July 25, 2025 - Executive Directors include **Kong Kin Man (Chairman)**, **Kong Kin To (CEO)**, **Kong Kin Nam**, and **Choi Fung Ka**[7](index=7&type=chunk) - Independent Non-Executive Directors are **Tam Chun Fai**, **Lo Yiu Wing**, and **Wong Man Ming**[7](index=7&type=chunk) - The Company Secretary, Chan Kin Wai, resigned on July 25, 2025, and **Chan Sze Yin** was appointed[7](index=7&type=chunk) [Audit Committee](index=3&type=section&id=Audit%20Committee) The Audit Committee members include Tam Chun Fai (Chairman), Lo Yiu Wing, and Wong Man Ming, all of whom are independent non-executive directors - The Audit Committee is composed of **Tam Chun Fai (Chairman)**, **Lo Yiu Wing**, and **Wong Man Ming**[7](index=7&type=chunk) [Remuneration Committee](index=3&type=section&id=Remuneration%20Committee) The Remuneration Committee members include Tam Chun Fai (Chairman), Kong Kin Man, Lo Yiu Wing, and Wong Man Ming - The Remuneration Committee is composed of **Tam Chun Fai (Chairman)**, **Kong Kin Man**, **Lo Yiu Wing**, and **Wong Man Ming**[7](index=7&type=chunk) [Nomination Committee](index=3&type=section&id=Nomination%20Committee) The Nomination Committee members include Kong Kin Man (Chairman), Tam Chun Fai, Lo Yiu Wing, and Wong Man Ming - The Nomination Committee is composed of **Kong Kin Man (Chairman)**, **Tam Chun Fai**, **Lo Yiu Wing**, and **Wong Man Ming**[7](index=7&type=chunk) [Registered Office and Principal Place of Business](index=3&type=section&id=Registered%20Office%20and%20Principal%20Place%20of%20Business) The company's registered office is in the Cayman Islands, and its principal place of business in Hong Kong is located at Room 1301, 13th Floor, Harcourt House, 39 Gloucester Road, Wan Chai, Hong Kong - The registered office is located at Cricket Square, Cayman Islands[7](index=7&type=chunk) - The principal place of business in Hong Kong is located at Room 1301, 13th Floor, Harcourt House, 39 Gloucester Road, Wan Chai, Hong Kong[7](index=7&type=chunk) [Share Registrar](index=3&type=section&id=Share%20Registrar) The principal share registrar and transfer office is Suntera (Cayman) Limited, and the Hong Kong branch share registrar and transfer office is Hong Kong Registrars Limited - The principal share registrar and transfer office is **Suntera (Cayman) Limited**[7](index=7&type=chunk) - The Hong Kong branch share registrar and transfer office is **Hong Kong Registrars Limited**[8](index=8&type=chunk) [Principal Bankers](index=3&type=section&id=Principal%20Bankers) The company's principal bankers include Agricultural Bank of China, China Construction Bank, China Minsheng Bank, Hang Seng Bank, Industrial and Commercial Bank of China (Asia), Shanghai Pudong Development Bank, Standard Chartered Bank, Bank of East Asia, and The Hongkong and Shanghai Banking Corporation Limited - Principal bankers include **Agricultural Bank of China**, **China Construction Bank**, **China Minsheng Bank**, **Hang Seng Bank**, **Industrial and Commercial Bank of China (Asia)**, **Shanghai Pudong Development Bank**, **Standard Chartered Bank**, **Bank of East Asia**, and **The Hongkong and Shanghai Banking Corporation Limited**[8](index=8&type=chunk) [Auditor and Legal Advisers](index=3&type=section&id=Auditor%20and%20Legal%20Advisers) The company's auditor is BDO Limited, and its legal advisers include Sidley Austin (Hong Kong law) and Conyers Dill & Pearman (Cayman Islands law) - The auditor is **BDO Limited**[8](index=8&type=chunk) - Legal advisers include **Sidley Austin (Hong Kong law)** and **Conyers Dill & Pearman (Cayman Islands law)**[8](index=8&type=chunk) [Website and Stock Code](index=3&type=section&id=Website%20and%20Stock%20Code) The company's website is www.kwggroupholdings.com, and its stock code is 1813 (Main Board of The Stock Exchange of Hong Kong Limited) - The company's website is **www.kwggroupholdings.com**[8](index=8&type=chunk) - The stock code is **1813 (Main Board of The Stock Exchange of Hong Kong Limited)**[8](index=8&type=chunk) [Company Profile](index=4&type=section&id=Company%20Profile) KWG Group Holdings Limited, established in 1995 and listed in Hong Kong in 2007, is a leading urban comprehensive operator in China, focusing on first and second-tier cities with diversified businesses and a commitment to ESG - KWG Group was established in 1995 and listed on the Main Board of the Hong Kong Stock Exchange in July 2007 (Stock Code: 01813.HK)[9](index=9&type=chunk) - The company is positioned as a leading urban comprehensive operator in China, with a strategy of "Rooted in Guangzhou, Radiating Nationwide," focusing on first and second-tier cities, deeply cultivating the Guangdong-Hong Kong-Macao Greater Bay Area and Yangtze River Delta regions, and covering important urban economic circles such as the Bohai Rim and Central and Western regions, with a presence in over 40 cities[9](index=9&type=chunk) - The product portfolio covers mid-to-high-end residential, serviced apartments, villas, office buildings, hotels, and shopping centers, with property development and commercial operations as the main businesses, complemented by diversified business segments such as education and healthcare[9](index=9&type=chunk) - The future outlook focuses on residential and commercial property development, with a commitment to Environmental, Social and Governance (ESG) practices for sustainable development[9](index=9&type=chunk) [Management Discussion and Analysis](index=5&type=section&id=Management%20Discussion%20and%20Analysis) This section reviews the group's financial performance, liquidity, market conditions, business operations, and future outlook [Financial Review](index=5&type=section&id=Financial%20Review) In the first half of 2025, the Group's revenue decreased by 27.5% year-on-year to RMB 3,792.3 million, primarily due to a comprehensive decline in property development, property investment, and hotel operations revenue; gross profit decreased by 4.4%, and other income and net gains significantly decreased by 94.2%; loss for the period significantly narrowed to RMB 2,171.7 million, mainly benefiting from income tax credit and reduced finance costs 2025 H1 Revenue Overview | Metric | 2025 H1 (RMB million) | 2024 H1 (RMB million) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 3,792.3 | 5,234.0 | -27.5% | | Property Development Revenue | 3,072.6 | 4,421.2 | -30.5% | | Property Investment Revenue | 406.1 | 447.4 | -9.2% | | Hotel Operations Revenue | 313.6 | 365.4 | -14.2% | - The decrease in property development revenue was mainly due to a reduction in total GFA delivered from **398,698 square meters** in the first half of 2024 to **348,103 square meters** in the same period of 2025, and a decrease in average selling price from **RMB 11,089 yuan/square meter** to **RMB 8,827 yuan/square meter**, primarily driven by price reduction promotions to accelerate inventory destocking[14](index=14&type=chunk) - The decrease in property investment and hotel operations revenue was mainly due to the overall downward economic environment, leading to a decrease in leasing volume and hotel occupancy rates[15](index=15&type=chunk)[16](index=16&type=chunk) 2025 H1 Key Financial Performance | Metric | 2025 H1 (RMB million) | 2024 H1 (RMB million) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Cost of sales | 3,698.8 | 5,136.1 | -28.0% | | Gross profit | 93.5 | 97.8 | -4.4% | | Other income and net gains | 29.7 | 510.0 | -94.2% | | Selling and marketing expenses | 342.0 | 453.6 | -24.6% | | Administrative expenses | 642.2 | 745.5 | -13.9% | | Other operating expenses | 255.1 | 3,917.5 | -93.5% | | Net fair value loss on investment properties | 122.0 | 470.9 | -74.1% | | Finance costs | 1,008.1 | 1,910.5 | -47.3% | | Share of loss of joint ventures | 873.7 | 923.8 | -5.4% | | Income tax credit/(expense) | 990.1 (credit) | 313.9 (expense) | Significant Improvement | | Loss for the period | 2,171.7 | 8,133.0 | -73.3% | - Cost of sales decreased by **28.0%**, mainly due to a decrease in the total GFA of properties delivered[18](index=18&type=chunk) - Other operating expenses significantly decreased by **93.5%**, primarily due to a reduction in impairment losses on properties under development[25](index=25&type=chunk) - Loss for the period significantly narrowed
合景泰富集团(01813) - 2025 - 中期业绩
2025-08-28 12:24
[Financial Performance Overview](index=2&type=section&id=%E8%B2%A1%E5%8B%99%E6%A5%AD%E7%B8%BE%E6%A6%82%E8%A6%BD) The Group's H1 2025 financial results show a significant reduction in losses driven by cost efficiencies and tax credits, alongside a slight asset decline and increased net current liabilities reflecting ongoing financial challenges [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=%E7%B0%A1%E6%98%8E%E5%90%88%E4%BD%B5%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) KWG Group Holdings significantly narrowed losses in H1 2025, with revenue down 27.5% year-on-year, but pre-tax and period losses substantially reduced by 59.6% and 73.3% respectively, due to decreased costs and a tax credit | Indicator | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 3,792,305 | 5,233,954 | -27.5% | | Gross Profit | 93,476 | 97,829 | -4.4% | | Other Income and Gains, Net | 29,689 | 509,963 | -94.2% | | Loss Before Tax | (3,161,750) | (7,819,148) | -59.6% | | Loss for the Period | (2,171,682) | (8,133,016) | -73.3% | | Loss Attributable to Owners of the Company | (2,053,365) | (8,223,670) | -75.0% | | Basic Loss Per Share | RMB (60) cents | RMB (241) cents | -75.1% | [Condensed Consolidated Statement of Financial Position](index=5&type=section&id=%E7%B0%A1%E6%98%8E%E5%90%88%E4%BD%B5%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2025, the Group's total non-current and current assets slightly decreased, while total current liabilities increased, expanding net current liabilities to RMB 39.8 billion, with net assets and total equity both declining by 17.8% | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Total Non-current Assets | 73,695,025 | 75,234,188 | -2.0% | | Total Current Assets | 77,348,857 | 78,102,099 | -1.0% | | Total Current Liabilities | 117,148,780 | 115,751,563 | +1.2% | | Net Current Liabilities | (39,799,923) | (37,649,464) | +5.7% | | Net Assets | 7,510,769 | 9,136,369 | -17.8% | | Total Equity | 7,510,769 | 9,136,369 | -17.8% | [Notes to the Financial Statements](index=7&type=section&id=%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E8%A8%BB) This section provides detailed notes on the Group's financial statements, covering company information, accounting policies, key financial performance drivers, and significant post-reporting events [Company Information](index=7&type=section&id=%E5%85%AC%E5%8F%B8%E8%B3%87%E6%96%99) K WG Group Holdings Limited is a limited liability company incorporated in the Cayman Islands, primarily engaged in property development, property investment, and hotel operations - The company's principal businesses are property development, property investment, and hotel operations[9](index=9&type=chunk)[12](index=12&type=chunk) [Basis of Preparation](index=7&type=section&id=%E7%B7%A8%E8%A3%BD%E5%9F%BA%E6%BA%96) The unaudited condensed consolidated interim financial information is prepared in accordance with HKAS 34 and Appendix 16 of the HKEX Listing Rules, with significant uncertainty regarding the Group's going concern ability, despite management's plans to mitigate liquidity pressure - The financial information is prepared in accordance with HKAS 34 and Appendix 16 of the Listing Rules[10](index=10&type=chunk) [Going Concern Basis](index=7&type=section&id=%E6%8C%81%E7%BA%8C%E7%B6%93%E7%87%9F%E5%9F%BA%E7%A4%8E) The Group faces significant net losses, net current liabilities, and substantial current bank borrowings, with defaults on USD senior notes and bank loans since 2023, creating material uncertainty about its going concern ability, which management addresses through project white-list financing, offshore debt restructuring, asset disposals, and cost controls - As of June 30, 2025, the Group reported a net loss of approximately **RMB 2.172 billion**, net current liabilities of approximately **RMB 39.8 billion**, current portion of bank and other borrowings of approximately **RMB 48.172 billion**, and cash and bank balances of approximately **RMB 837 million**[11](index=11&type=chunk) - Since December 31, 2023, the Group has defaulted on principal and interest payments for certain USD-denominated senior notes and bank borrowings, triggering defaults or cross-defaults totaling approximately **RMB 46.681 billion**[11](index=11&type=chunk) - To alleviate liquidity pressure, the Group has formulated several plans, including: 33 projects being included in the project white-list, with approximately **RMB 8.6 billion** in project financing loan principal successfully extended; engaging financial and legal advisors to explore a comprehensive offshore debt restructuring plan targeting existing debt totaling approximately **USD 4.6 billion**; the 50%-owned Hong Kong Kaiyue project company successfully securing **HKD 8.2 billion** in refinancing; accelerating pre-sales and sales of properties under development and completed properties held for sale, and negotiating the disposal of entire commercial properties, hotels, urban renewal projects, and non-core properties; continuing to control administrative costs and capital expenditures; and seeking to dispose of equity interests in joint ventures or associates engaged in property development[13](index=13&type=chunk)[14](index=14&type=chunk)[15](index=15&type=chunk) [Changes in Accounting Policies](index=9&type=section&id=%E6%9C%AC%E9%9B%86%E5%9C%98%E6%9C%83%E8%A8%88%E6%94%BF%E7%AD%96%E4%B9%8B%E8%AE%8A%E6%9B%B4) The Group adopted the revised HKFRS 21 'Lack of Exchangeability—Effects of Changes in Foreign Exchange Rates' effective January 1, 2025, which did not have a significant impact on the financial statements - Adopted the revised HKAS 21 'Lack of Exchangeability—Effects of Changes in Foreign Exchange Rates' effective January 1, 2025[17](index=17&type=chunk)[18](index=18&type=chunk) - The revision did not have a significant impact on the Group's financial statements[20](index=20&type=chunk) [Revenue, Other Income and Gains, Net, and Segment Information](index=10&type=section&id=%E6%94%B6%E5%85%A5%E3%80%81%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E5%8F%8A%E6%94%B6%E7%9B%8A%E6%B7%A8%E9%A1%8D%E4%BB%A5%E5%8F%8A%E7%B6%93%E7%87%9F%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group's H1 2025 revenue, primarily from property sales, investment property rentals, and hotel operations, decreased by 27.5% year-on-year, with property development, investment, and hotel revenues all declining, and other income and gains, net, significantly reduced by 94.2% | Revenue Source | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Property Sales | 3,072,560 | 4,421,186 | -30.5% | | Hotel Operations Revenue | 313,640 | 365,388 | -14.2% | | Total Rental Income | 406,105 | 447,380 | -9.2% | | **Total Revenue** | **3,792,305** | **5,233,954** | **-27.5%** | | Other Income and Gains, Net | 29,689 | 509,963 | -94.2% | - The Group's operating segments include property development, property investment, and hotel operations[22](index=22&type=chunk) [Finance Costs](index=13&type=section&id=%E8%9E%8D%E8%B3%87%E6%88%90%E6%9C%AC) The Group's H1 2025 finance costs were RMB 1.008 billion, a significant 47.3% decrease from RMB 1.911 billion in H1 2024, primarily due to a substantial increase in capitalized interest | Indicator | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Interest on bank and other borrowings | 2,543,808 | 2,301,817 | +10.5% | | Interest on lease liabilities | 1,538 | 9,393 | -83.6% | | Less: Capitalized interest | (1,537,224) | (400,707) | +283.6% | | **Total Finance Costs** | **1,008,122** | **1,910,503** | **-47.3%** | [Loss Before Tax](index=14&type=section&id=%E7%A8%85%E5%89%8D%E虧%E6%90%8D) The Group's H1 2025 loss before tax narrowed significantly to RMB 3.162 billion from RMB 7.819 billion in H1 2024, mainly due to substantial reductions in cost of properties sold, cost of services provided, employee benefit expenses, and impairment losses recognized on properties under development and completed properties held for sale | Indicator | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Cost of properties sold | 3,504,344 | 4,894,630 | -28.5% | | Cost of services provided | 194,485 | 241,495 | -19.5% | | Employee benefit expenses (excluding directors' and chief executive's emoluments) | 131,434 | 219,116 | -40.0% | | Impairment losses recognized on properties under development and completed properties held for sale | 255,105 | 3,917,521 | -93.5% | [Income Tax Credit / (Expense)](index=15&type=section&id=%E6%89%80%E5%BE%97%E7%A8%85%E6%8A%B5%E5%85%8D%E2%88%95%EF%BC%88%E9%96%8B%E6%94%AF%EF%BC%89) The Group recorded an income tax credit of RMB 990 million in H1 2025, compared to an expense of RMB 314 million in H1 2024, primarily due to the reversal of previously accrued but no longer payable income tax expenses | Indicator | H1 2025 (RMB thousands) | H1 2024 (RMB thousands) | | :--- | :--- | :--- | | Current – PRC corporate income tax | (995,472) | 399,319 | | Current – Land appreciation tax | 24,208 | 98,662 | | Deferred | (18,804) | (184,113) | | **Total tax (credit) / expense for the period** | **(990,068)** | **313,868** | - The income tax credit was primarily due to the reversal of previously accrued but no longer payable income tax expenses[58](index=58&type=chunk) [Dividends](index=15&type=section&id=%E8%82%A1%E6%81%AF) The Board has resolved not to declare any interim dividend for the six months ended June 30, 2025, consistent with the prior year - The Board has resolved not to declare any interim dividend for the six months ended June 30, 2025 (2024: nil)[34](index=34&type=chunk) [Loss Per Share Attributable to Owners of the Company](index=16&type=section&id=%E6%9C%AC%E5%85%AC%E5%8F%B8%E6%93%81%E6%9C%89%E4%BA%BA%E6%87%89%E4%BD%94%E6%AF%8F%E8%82%A1%E虧%E6%90%8D) For the six months ended June 30, 2025, both basic and diluted loss per share were RMB (60) cents, a significant narrowing from RMB (241) cents in H1 2024 | Indicator | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Loss Attributable to Owners of the Company (RMB thousands) | (2,053,365) | (8,223,670) | | Weighted average number of ordinary shares in issue | 3,418,883,945 | 3,418,883,945 | | Basic and diluted loss per share | RMB (60) cents | RMB (241) cents | [Trade Receivables](index=16&type=section&id=%E6%87%89%E6%94%B6%E8%B2%BF%E6%98%93%E8%B3%AC%E6%AC%BE) As of June 30, 2025, total trade receivables amounted to RMB 294 million, with the majority (approximately 88.5%) aged within three months | Ageing | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Within three months | 260,004 | 260,450 | | Seven to twelve months | 726 | 5,252 | | Over one year | 32,911 | 21,841 | | **Total** | **293,641** | **287,543** | [Cash and Bank Balances](index=17&type=section&id=%E7%8F%BE%E9%87%91%E5%8F%8A%E9%8A%80%E8%A1%8C%E7%B5%90%E9%A4%98) As of June 30, 2025, cash and bank balances totaled RMB 837 million, comprising RMB 688 million in restricted cash and RMB 149 million in cash and cash equivalents | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Cash and bank balances | 837,316 | 787,445 | | Less: Restricted cash | (688,120) | (634,881) | | **Cash and cash equivalents** | **149,196** | **152,564** | [Trade and Bills Payables](index=17&type=section&id=%E6%87%89%E4%BB%98%E8%B2%BF%E6%98%93%E8%B3%AC%E6%AC%BE%E5%8F%8A%E6%87%89%E4%BB%98%E7%A5%A8%E6%93%9A) As of June 30, 2025, total trade and bills payables amounted to RMB 19.854 billion, with approximately 78.7% due within one year | Ageing | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Within one year | 15,623,515 | 13,807,265 | | Over one year | 4,230,981 | 5,121,139 | | **Total** | **19,854,496** | **18,928,404** | [Events After Reporting Period](index=17&type=section&id=%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E4%BA%8B%E9%A0%85) Subsequent to the reporting period, Shandong Sunshine New World Microcredit Co Ltd filed a winding-up petition against the Company with the Hong Kong High Court on August 11, 2025, involving guaranteed outstanding principal of approximately RMB 642 million and accrued interest of approximately RMB 136 million - On August 11, 2025, Shandong Sunshine New World Microcredit Co Ltd filed a winding-up petition against the Company with the Hong Kong High Court[41](index=41&type=chunk) - The petition involves guaranteed outstanding principal of approximately **RMB 642 million** and accrued interest of approximately **RMB 136 million**[41](index=41&type=chunk) [Management Discussion and Analysis](index=18&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) This section provides a comprehensive review of the Group's financial performance, liquidity, market conditions, business operations, and future outlook for the reporting period [Financial Review](index=18&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) The Group's H1 2025 revenue declined 27.5% due to business segment downturns, while cost reductions, improved administrative efficiency, and lower finance costs led to a significant narrowing of the period's loss [Revenue](index=18&type=section&id=%E6%94%B6%E5%85%A5) In H1 2025, the Group's revenue was approximately RMB 3.792 billion, a 27.5% year-on-year decrease, primarily from property sales, investment property rentals, and hotel operations, with equity-accounted revenue at RMB 5.641 billion, down 23.7% | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 3,792.3 | 5,234.0 | -27.5% | | Equity-accounted revenue | 5,641.4 | 7,397.7 | -23.7% | [Property Development](index=18&type=section&id=%E7%89%A9%E6%A5%AD%E9%96%8B%E7%99%BC) H1 2025 property development revenue was approximately RMB 3.073 billion, a 30.5% year-on-year decrease, driven by a 12.7% reduction in GFA delivered and a 20.4% decline in average selling price, reflecting price promotions to accelerate inventory destocking | Indicator | H1 2025 | H1 2024 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Property development revenue (RMB millions) | 3,072.6 | 4,421.2 | -30.5% | | Total GFA delivered (square meters) | 348,103 | 398,698 | -12.7% | | Average selling price (RMB/square meter) | 8,827 | 11,089 | -20.4% | - The decrease in average selling price was primarily due to price promotion activities implemented to accelerate inventory destocking in response to the downturn in the real estate market[43](index=43&type=chunk) [Property Investment](index=19&type=section&id=%E7%89%A9%E6%A5%AD%E6%8A%95%E8%B3%87) H1 2025 property investment revenue was approximately RMB 406 million, a 9.2% year-on-year decrease, mainly due to reduced leasing volume amid a challenging overall economic environment | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Property investment revenue | 406.1 | 447.4 | -9.2% | - The decrease in revenue was primarily due to reduced leasing volume amid a challenging overall economic environment[45](index=45&type=chunk) [Hotel Operations](index=19&type=section&id=%E9%85%92%E5%BA%97%E7%87%9F%E9%81%8B) H1 2025 hotel operations revenue was approximately RMB 314 million, a 14.2% year-on-year decrease, mainly due to lower hotel occupancy rates amid a challenging overall economic environment | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Hotel operations revenue | 313.6 | 365.4 | -14.2% | - The decrease in revenue was primarily due to lower hotel occupancy rates amid a challenging overall economic environment[46](index=46&type=chunk) [Cost of Sales](index=19&type=section&id=%E9%8A%B7%E5%94%AE%E6%88%90%E6%9C%AC) H1 2025 cost of sales was approximately RMB 3.699 billion, a 28.0% year-on-year decrease, primarily due to a reduction in total GFA delivered, with both per-square-meter land and construction costs also declining | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Cost of sales | 3,698.8 | 5,136.1 | -28.0% | | Land cost per square meter (RMB) | 3,689 | 3,835 | -3.8% | | Construction cost per square meter (RMB) | 4,420 | 4,627 | -4.5% | [Gross Profit](index=20&type=section&id=%E6%AF%9B%E5%88%A9) The Group's H1 2025 gross profit was approximately RMB 93.5 million, a 4.4% year-on-year decrease, primarily due to lower total sales | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Gross Profit | 93.5 | 97.8 | -4.4% | [Other Income and Gains, Net](index=20&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E5%8F%8A%E6%94%B6%E7%9B%8A%E6%B7%A8%E9%A1%8D) H1 2025 other income and gains, net, amounted to approximately RMB 29.7 million, a significant 94.2% year-on-year decrease | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Other income and gains, net | 29.7 | 510.0 | -94.2% | [Selling and Marketing Expenses](index=20&type=section&id=%E9%8A%B7%E5%94%AE%E5%8F%8A%E7%87%9F%E9%8A%B7%E9%96%8B%E6%94%AF) H1 2025 selling and marketing expenses were approximately RMB 342 million, a 24.6% year-on-year decrease, primarily due to reduced expenses associated with lower sales | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Selling and marketing expenses | 342.0 | 453.6 | -24.6% | [Administrative Expenses](index=20&type=section&id=%E8%A1%8C%E6%94%BF%E9%96%8B%E6%94%AF) H1 2025 administrative expenses were approximately RMB 642 million, a 13.9% year-on-year decrease, mainly due to cost savings from optimizing the corporate organizational structure | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Administrative expenses | 642.2 | 745.5 | -13.9% | [Other Operating Expenses](index=20&type=section&id=%E5%85%B6%E4%BB%96%E7%87%9F%E9%81%8B%E9%96%8B%E6%94%AF) H1 2025 other operating expenses were approximately RMB 255 million, a significant 93.5% decrease from RMB 3.918 billion in H1 2024, primarily due to reduced impairment losses on development properties | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Other operating expenses | 255.1 | 3,917.5 | -93.5% | [Net Fair Value Loss on Investment Properties](index=20&type=section&id=%E6%8A%95%E8%B3%87%E7%89%A9%E6%A5%AD%E5%85%AC%E5%85%81%E5%80%BC%E虧%E6%90%8D%E6%B7%A8%E9%A1%8D) H1 2025 net fair value loss on investment properties was approximately RMB 122 million, a significant 74.1% decrease from RMB 471 million in H1 2024, primarily due to reduced revaluation losses | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net fair value loss on investment properties | 122.0 | 470.9 | -74.1% | [Finance Costs](index=21&type=section&id=%E8%9E%8D%E8%B3%87%E6%88%90%E6%9C%AC) H1 2025 finance costs were approximately RMB 1.008 billion, a 47.3% year-on-year decrease, primarily related to borrowing costs for general corporate loans and certain senior notes, which were not capitalized | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Finance costs | 1,008.1 | 1,910.5 | -47.3% | [Share of Loss of Joint Ventures](index=21&type=section&id=%E5%88%86%E4%BD%94%E5%90%88%E7%87%9F%E4%BC%81%E6%A5%AD%E虧%E6%90%8D) H1 2025 share of loss of joint ventures was approximately RMB 874 million, a 5.4% year-on-year decrease, primarily due to reduced gross loss from changes in inter-city delivery mix | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Share of loss of joint ventures | 873.7 | 923.8 | -5.4% | [Income Tax Credit / (Expense)](index=21&type=section&id=%E6%89%80%E5%BE%97%E7%A8%85%E6%8A%B5%E5%85%8D%E2%88%95%EF%BC%88%E9%96%8B%E6%94%AF%EF%BC%89) H1 2025 saw an income tax credit of approximately RMB 990 million, compared to an expense of RMB 314 million in H1 2024, primarily due to the reversal of previously accrued but no longer payable income tax expenses | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | | :--- | :--- | :--- | | Income tax credit/(expense) | 990.1 (credit) | 313.9 (expense) | [Loss for the Period](index=21&type=section&id=%E6%9C%9F%E5%85%A7%E虧%E6%90%8D) H1 2025 loss for the period was approximately RMB 2.172 billion, a significant 73.3% narrowing from RMB 8.133 billion in H1 2024 | Indicator | H1 2025 (RMB millions) | H1 2024 (RMB millions) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Loss for the period | 2,171.7 | 8,133.0 | -73.3% | [Liquidity, Financial and Capital Resources](index=21&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E3%80%81%E8%B2%A1%E5%8B%99%E5%8F%8A%E8%B3%87%E6%9C%AC%E8%B3%87%E6%BA%90) As of June 30, 2025, the Group's cash and bank balances increased slightly, but restricted cash also rose, with substantial secured borrowings and a significantly elevated gearing ratio of 958.7%, indicating high financial leverage and contingent liabilities [Cash Position](index=21&type=section&id=%E7%8F%BE%E9%87%91%E7%8B%80%E6%B3%81) As of June 30, 2025, cash and bank balances were approximately RMB 837 million, a slight increase from year-end 2024, with restricted cash of approximately RMB 688 million primarily comprising guarantee deposits for pre-sale property proceeds | Indicator | June 30, 2025 (RMB millions) | December 31, 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and bank balances | 837.3 | 787.4 | +6.3% | | Restricted cash | 688.1 | 634.9 | +8.4% | [Borrowings and Pledges of the Group's Assets](index=22&type=section&id=%E5%80%9F%E8%B2%B8%E5%8F%8A%E6%9C%AC%E9%9B%86%E5%9C%98%E7%9A%84%E8%B3%87%E7%94%A2%E6%8A%B5%E6%8A%BC) As of June 30, 2025, the Group had substantial bank and other loans, senior notes, and domestic corporate bonds, with approximately RMB 40.759 billion in bank and other loans and RMB 3.487 billion in domestic corporate bonds secured by Group assets, and all senior notes classified as current liabilities | Borrowing Type | June 30, 2025 (RMB millions) | | :--- | :--- | | Bank and other borrowings | 41,428.2 | | Senior notes | 27,925.4 | | Domestic corporate bonds | 3,487.4 | - Approximately **RMB 40.759 billion** in bank and other borrowings and **RMB 3.487 billion** in domestic corporate bonds are secured by the Group's assets[61](index=61&type=chunk) - All senior notes are presented as current liabilities[61](index=61&type=chunk) [Gearing Ratio](index=22&type=section&id=%E8%B2%A0%E5%80%B5%E6%AF%94%E7%8E%87) As of June 30, 2025, the gearing ratio (net borrowings divided by total equity) significantly increased to 958.7% from 789.6% at year-end 2024, indicating further increased financial leverage | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Gearing ratio | 958.7% | 789.6% | [Foreign Exchange Fluctuation Risk](index=23&type=section&id=%E5%8C%AF%E7%8E%87%E6%B3%A2%E5%8B%95%E9%A2%A8%E9%9A%AA) The Group primarily operates in China, with most revenue and expenses denominated in RMB; despite RMB appreciation against USD and HKD in H1 2025, the Board anticipates no material adverse impact from exchange rate fluctuations on operations - The Group primarily operates in China, with most revenue and expenses denominated in RMB[64](index=64&type=chunk) - In H1 2025, the RMB appreciated against the USD and HKD, but the Board does not expect a material adverse impact on the Group's operations[64](index=64&type=chunk) [Contingent Liabilities](index=23&type=section&id=%E6%88%96%E7%84%B6%E8%B2%A0%E5%80%B5) As of June 30, 2025, the Group's contingent liabilities related to guarantees provided to banks for buyers' mortgage financing amounted to approximately RMB 9.289 billion, in addition to guarantees for bank loans of its joint ventures, associates, third parties, and related companies - As of June 30, 2025, the Group's contingent liabilities related to guarantees provided to banks for certain buyers' mortgage financing amounted to approximately **RMB 9.289 billion**[65](index=65&type=chunk) - The Group also provided guarantees for certain bank loans of its joint ventures, associates, third parties, and related companies[65](index=65&type=chunk) [Market Review](index=24&type=section&id=%E5%B8%82%E5%A0%B4%E5%9B%9E%E9%A1%A7) H1 2025 saw China's real estate market exhibit 'structural differentiation,' with core cities resilient amidst national declines in investment and sales, tight developer funding, and falling prices, leading to cautious buyer sentiment - In H1 2025, China's real estate market exhibited 'structural differentiation,' with core cities showing resilience while non-core cities remained deeply in adjustment[66](index=66&type=chunk) | Indicator (Jan-Jun 2025) | Amount/Data | YoY Change (%) | | :--- | :--- | :--- | | National real estate development investment | 4,665.8 billion RMB | -11.2% | | Commercial housing sales area | 45,851 ten thousand square meters | -3.5% | | Commercial housing sales value | 4,424.1 billion RMB | -5.5% | | Funds available to real estate development enterprises | 5,020.2 billion RMB | -6.2% | - Prices of second-hand homes in 100 cities cumulatively fell by **3.6%**, marking 38 consecutive months of decline; new home prices generally trended downwards, and buyer sentiment remained cautious[67](index=67&type=chunk) [Business Review](index=24&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7) The Group actively responded to market adjustments by prioritizing property delivery, addressing debt, and boosting sales; H1 pre-sales reached RMB 3.565 billion, with 4,900 homes delivered, while investment property and hotel revenues declined, prompting plans to enhance management and expand hotels [Overview of Property Development](index=24&type=section&id=%E7%89%A9%E6%A5%AD%E7%99%BC%E5%B1%95%E6%A6%82%E8%A6%BD) In H1, the Group achieved pre-sales of RMB 3.565 billion, with a pre-sale area of 139,700 square meters and an average pre-sale price of RMB 25,511/square meter; the Greater Bay Area contributed approximately 78% of performance, and approximately 4,900 homes were delivered, totaling about 710,000 square meters | Indicator (H1 2025) | Data | | :--- | :--- | | Pre-sales amount | RMB 3.565 billion | | Pre-sale area | 13.97 ten thousand square meters | | Average pre-sale price | RMB 25,511/square meter | | Greater Bay Area performance contribution | Approximately 78% | | Cumulative number of homes delivered | Approximately 4,900 units | | Cumulative delivery area | Approximately 71 ten thousand square meters | - Land reserve attributable GFA is **11.43 million square meters**, with an attributable interest of approximately **75%**, primarily located in high-tier cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Hong Kong, and Chengdu[69](index=69&type=chunk) [Investment Properties and Hotels](index=25&type=section&id=%E6%8A%95%E8%B3%87%E6%80%A7%E7%89%A9%E6%A5%AD%E5%8F%8A%E9%85%92%E5%BA%97) The Group operates 14 shopping malls, 9 office buildings, 13 self-branded hotels, and 5 co-branded foreign hotels; H1 2025 rental income was RMB 406 million, down 9.2%, and hotel revenue was RMB 314 million, down 14.2%, prompting plans to enhance management, operational efficiency, and add two new Moliere hotels in H2 - The Group operates **14** shopping malls, **9** office buildings, **13** self-branded hotels, and **5** co-branded foreign hotels[70](index=70&type=chunk) | Indicator (H1 2025) | Amount (RMB billions) | YoY Change (%) | | :--- | :--- | :--- | | Rental income | 4.06 | -9.2% | | Hotel business revenue | 3.14 | -14.2% | - The Group plans to add two new Moliere hotels in Guangzhou and Chengdu in H2 2025[71](index=71&type=chunk) [Outlook](index=26&type=section&id=%E6%9C%AA%E4%BE%86%E5%B1%95%E6%9C%9B) H2 China real estate policy will balance 'stabilizing expectations' and 'preventing risks,' reshaping supply-demand and shifting developers to 'value creation'; KWG Group will focus on Greater Bay Area projects for recovery, cash flow, brand commitments, and full debt restructuring - In H2, policies are expected to enhance the balance between 'stabilizing expectations' and 'preventing risks,' reshaping supply-demand through long-term mechanisms such as land reserves and affordable housing construction[72](index=72&type=chunk) - The Group will adhere to three main strategies: leveraging core Greater Bay Area projects for recovery and cash flow assurance; fulfilling brand commitments through benchmark projects; and fully advancing domestic and offshore debt restructuring[72](index=72&type=chunk) [Overview of the Group's Property Development](index=26&type=section&id=%E6%9C%AC%E9%9B%86%E5%9C%98%E7%89%A9%E6%A5%AD%E7%99%BC%E5%B1%95%E6%83%85%E6%B3%81%E6%A6%82%E8%A6%BD) As of June 30, 2025, the Group owned 147 major projects (excluding residual properties) across 42 cities in mainland China and Hong Kong, primarily in high-tier cities like Guangzhou, Suzhou, Chengdu, Beijing, and Shanghai, with project types including residential, villas, serviced apartments, office buildings, commercial, and hotels - As of June 30, 2025, the Group had **147** major projects (excluding residual properties) across **42** cities in mainland China and Hong Kong[69](index=69&type=chunk)[73](index=73&type=chunk) - Project types include residential, villas, serviced apartments, office buildings, commercial, and hotels[74](index=74&type=chunk)[75](index=75&type=chunk)[76](index=76&type=chunk)[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk) [Employees and Remuneration Policy](index=33&type=section&id=%E5%83%B1%E5%93%A1%E5%8F%8A%E8%96%AA%E9%85%AC%E6%94%BF%E7%AD%96) As of June 30, 2025, the Group employed approximately 1,800 staff, with total employee costs of approximately RMB 148 million in H1, and its remuneration policy is based on performance, skills, experience, and industry practice, offering discretionary bonuses, cash incentives, provident fund schemes, and training development - As of June 30, 2025, the Group employed a total of approximately **1,800** employees[81](index=81&type=chunk) | Indicator | H1 2025 (RMB millions) | | :--- | :--- | | Total employee costs | 148.1 | - Remuneration policy is determined based on performance, skills, experience, and industry practice, offering discretionary bonuses, cash incentives, provident fund schemes, and training and development[81](index=81&type=chunk)[82](index=82&type=chunk) [Corporate Governance](index=33&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB) The Group largely complies with the CG Code in Appendix C1 of the Listing Rules, but noted deviations include board resolutions for significant connected transactions and company secretary appointments, the Chairman's AGM absence, and non-compliance with major transaction circular dispatch rules, for which remedial actions have been taken - The Group has complied with most of the provisions of the Corporate Governance Code set out in Appendix C1 of the Listing Rules[84](index=84&type=chunk) - There was a deviation from Code Provision C.5.7, where the Board approved the renewal of certain continuing connected transactions for leasing properties to Guangzhou Kaichuang by written resolution, involving a material interest of Executive Director Mr. Kong Jian Tao[84](index=84&type=chunk)[85](index=85&type=chunk) - There was a deviation from Code Provision F.1.3, as Mr. Kong Jian Min, the Chairman of the Board, was unable to attend the Annual General Meeting on June 3, 2025[87](index=87&type=chunk) - There was a deviation from Code Provision C.6.2, where the Board handled the appointment of the company secretary by written resolution instead of holding a physical board meeting[86](index=86&type=chunk)[88](index=88&type=chunk) - The Company did not comply with Listing Rule 14.41(a) regarding the dispatch of circulars for major transactions, and has taken remedial actions including engaging an independent third party to conduct an internal control review[88](index=88&type=chunk) - All Directors have confirmed compliance with the Model Code for Securities Transactions by Directors of Listed Issuers for the six months ended June 30, 2025[89](index=89&type=chunk) [Other Information](index=35&type=section&id=%E5%85%B6%E4%BB%96%E4%BF%A1%E6%81%AF) This section covers information on the purchase, sale, or redemption of listed securities, review by the audit committee, interim report details, and the composition of the Board of Directors [Purchase, Sale or Redemption of the Company's Listed Securities](index=35&type=section&id=%E8%B3%BC%E8%B2%B7%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B4%96%E5%9B%9E%E6%9C%AC%E5%85%AC%E5%8F%B8%E4%B8%8A%E5%B8%82%E8%AD%89%E5%88%B8) For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[90](index=90&type=chunk) [Review by Audit Committee](index=35&type=section&id=%E7%B6%93%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83%E5%AF%A9%E9%96%B1) The Company's Audit Committee, comprising three independent non-executive directors, has reviewed the Group's unaudited condensed consolidated interim results for the six months ended June 30, 2025 - The Company's Audit Committee has reviewed the Group's unaudited condensed consolidated interim results for the six months ended June 30, 2025[91](index=91&type=chunk) - The Audit Committee comprises three independent non-executive directors[91](index=91&type=chunk) [Interim Report](index=36&type=section&id=%E4%B8%AD%E6%9C%9F%E5%A0%B1%E5%91%8A) The interim report for the six months ended June 30, 2025, containing all detailed information, will be published on the Company's website and HKEXnews website in due course, with printed copies dispatched to shareholders - The interim report for the six months ended June 30, 2025, containing all detailed information, will be published on the Company's website (www.kwggroupholdings.com) and HKEXnews website (www.hkexnews.hk)[92](index=92&type=chunk) [By Order of the Board](index=36&type=section&id=%E6%89%BF%E8%91%A3%E4%BA%8B%E6%9C%83%E5%91%BD) The Board of Directors comprises seven directors, including four executive directors and three independent non-executive directors - The Board of Directors comprises seven directors, among whom Mr. Kong Jian Min (Chairman), Mr. Kong Jian Tao (Chief Executive Officer), Mr. Kong Jian Nan, and Mr. Cai Feng Jia are executive directors; and Mr. Tam Chun Fai, Mr. Law Yiu Wing, and Ms. Wong Man Ming are independent non-executive directors[94](index=94&type=chunk)
合景泰富集团(01813) - 2025 - 年度业绩
2025-08-19 11:02
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,概不對因本公告全部或任何 部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 KWG GROUP HOLDINGS LIMITED 合景泰富集團控股有限公司 (於開曼群島註冊成立的有限公司) 會不得根據股份獎勵計劃進一步授出獎勵股份。股份獎勵計劃並無規定每名參 與者的最高配額,惟每名參與者的配額須符合上市規則。 (股份代號:1813) 有關2024年報的補充公告 茲提述合景泰富集團控股有限公司(「本公司」)於2025年4月23日刊發其截至2024年 12月31日止年度之的年度報告(「2024年報」)。除文義另有所指外,本公告所用詞彙 與2024年報所界定者及所使用者具有相同涵義。 除於2024年報所披露之資料外,本公司董事會(「董事會」)謹此根據上市規則第 17.07、17.09及17.12條之規定,提供以下與股份獎勵計劃及購股權計劃有關的補充 資料。 股份獎勵計劃 (1) 可供授出的獎勵股份數目 於2024年1月1日及2024年12月31日,根據股份獎勵計劃可供授出的獎勵股份數 ...
合景泰富集团(01813.HK)将于8月28日召开董事会会议以审批中期业绩
Ge Long Hui· 2025-08-18 08:55
Core Viewpoint - The company, Kaisa Group Holdings Ltd. (01813.HK), announced that it will hold a board meeting on August 28, 2025, to review and approve its interim results for the six months ending June 30, 2025, and to consider the proposal for an interim dividend distribution, if any [1] Summary by Categories - **Company Announcement** - Kaisa Group will convene a board meeting on August 28, 2025 [1] - The meeting will focus on reviewing the interim results for the six months ending June 30, 2025 [1] - The board will also consider the proposal for an interim dividend distribution [1]
合景泰富集团(01813) - 董事会会议日期
2025-08-18 08:37
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。 KWG GROUP HOLDINGS LIMITED 合 景 泰 富 集 團 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) 合景泰富集團控股有限公司(「本公司」)董事會(分別為「董事會」及「董事」)謹此宣 布,本公司將於2025年8月28日(星期四)舉行董事會會議,藉以(其中包括)批准刊 發本公司及其附屬公司截至2025年6月30日止六個月的中期業績公告,以及考慮派 發中期股息(如有)。 承董事會命 合景泰富集團控股有限公司 主席 孔健岷 香港,2025年8月18日 於 本 公 告 日 期,董 事 會 由 七 名 董 事 組 成,其 中 孔 健 岷 先 生(主 席)、孔 健 濤 先生(行政總裁)、孔健楠先生及蔡風佳先生為執行董事;而譚振輝先生、羅耀榮先 生及黃敏明女士為獨立非執行董事。 (股份代號:1813) 董事會會議日期 ...
每日债市速递 | 风险偏好施压,现券期货再走弱
Wind万得· 2025-08-17 22:34
Group 1: Open Market Operations - The central bank conducted a 7-day reverse repurchase operation on August 15, with a fixed rate and quantity tendering, amounting to 238 billion yuan at an interest rate of 1.40%, with a net injection of 116 billion yuan for the day after considering the maturity of 122 billion yuan in reverse repos [1]. Group 2: Funding Conditions - The interbank market saw a tightening of funding conditions, with overnight repurchase weighted rates exceeding 1.4% in the morning, stabilizing around 1.40% in the afternoon. Non-bank institutions' overnight borrowing rates rose above 1.45% [3]. - The latest overnight financing rate in the U.S. was reported at 4.33% [3]. Group 3: Interbank Certificates of Deposit - The latest transaction rate for one-year interbank certificates of deposit in the secondary market was approximately 1.6425% [7]. Group 4: Bond Market Overview - The yields on major interbank bonds mostly increased, with specific rates for various maturities as follows: - 1Y government bond at 1.3600% - 2Y government bond at 1.3975% - 5Y government bond at 1.5825% - 10Y government bond at 1.7460% [9]. Group 5: Recent Trends in Local Government Bonds - The yield spreads for AAA-rated local government bonds across various maturities were analyzed, indicating trends in the bond market [11]. Group 6: National Economic Outlook - The National Bureau of Statistics indicated a stable economic foundation for China, with positive long-term growth prospects supported by macroeconomic policies and increased market demand. The IMF raised its growth forecast for China by 0.8 percentage points, reflecting growing international confidence in China's economic development [13]. Group 7: Real Estate Market Data - In July, the sales prices of commercial residential properties in 70 major cities showed a month-on-month decline, with first-tier cities experiencing a 0.2% decrease, a reduction in the decline compared to the previous month [13]. Group 8: Global Economic Indicators - The U.S. PPI rose to 3.3% year-on-year in July, the highest since February, exceeding expectations, which has impacted the Fed's interest rate outlook [16].
合景泰富集团一度跌超22% 遭提清盘呈请 涉未偿还金额及利息近7.8亿元
Zhi Tong Cai Jing· 2025-08-14 02:25
Core Viewpoint - Kaisa Group Holdings Ltd. experienced a significant drop in stock price, falling over 22% at one point, and currently trading down 19.7% at HKD 0.265, with a trading volume of HKD 7.3781 million [1] Group 1: Legal Proceedings - Kaisa Group has been informed of a winding-up petition filed by Shandong Sunshine New World Microfinance Co., Ltd. against the company, related to an unpaid guarantee amounting to approximately RMB 642 million and accrued interest of about RMB 136 million [1] - The petition does not guarantee that the petitioner will successfully wind up the company [1] - As of the announcement date, the High Court has not issued a winding-up order against the company, with the first hearing date set for October 22, 2025 [1]
港股异动 | 合景泰富集团(01813)一度跌超22% 遭提清盘呈请 涉未偿还金额及利息近7.8亿元
智通财经网· 2025-08-14 02:20
呈请的提出不代表呈请人能成功对公司进行清盘。于该公告日期,高等法院并无颁布清盘令以将公司清 盘。高等法院已将呈请的首次聆讯日期定为2025年10月22日。 智通财经APP获悉,合景泰富集团(01813)一度跌超22%,截至发稿,跌19.7%,报0.265港元,成交额 737.81万港元。 消息面上,合景泰富集团昨晚公告,公司获悉山东阳光新天地小额贷款有限公司(呈请人)于2025年8月 11日向香港特别行政区高等法院提出的对公司的清盘呈请,内容有关由公司所提供的担保未偿还金额约 6.42亿人民币及应计利息约1.36亿人民币。 ...
合景泰富集团(01813.HK)被提清盘呈请 高等法院10月22日首次聆讯
Jin Rong Jie· 2025-08-14 02:16
本文源自:财华网 【财华社讯】合景泰富集团(01813.HK)公佈,山东阳光新天地小额贷款有限公司于8月11日向香港特别 行政区高等法院对合景泰富提出清盘呈请,缘由是合景泰富所提供担保的未偿还金额约6.42亿元及应计 利息约1.36亿元。目前高等法院未颁布清盘令,首次聆讯日期定为10月22日。 ...