Summary of Conference Call Notes Industry Overview: China Property Market Key Points on Sales Performance - Top 100 developers' contract sales declined by 19% YoY in August 2025, an improvement from a 25% decline in July 2025 [2] - On a MoM basis, contract sales decreased by 4%, consistent with historical levels from 2020 to 2024 [2] - Cumulative sales for the top 100 developers in the first eight months of 2025 fell by 14% YoY, slightly worse than the 13% decline recorded in July 2025 [2] - Inventory sell-through rates are under pressure, with inventory months in tier-1 cities rising to 21 months and 29 months in 80 major cities as of July [2] Market Dynamics - Recent easing of home purchase restrictions in tier-1 cities had limited impact on sales [2] - Upgrade demand and the luxury market remain resilient, exemplified by Poly Property's Shenzhen Zhenyu project achieving Rmb2.3 billion in sales on its first day with a 96% sell-through rate [2] - SOE developers outperformed the top 100 developers, with a 10% YoY decline in contract sales compared to the 19% decline for the top 100 [4] Secondary Listing Trends - Secondary listings in 50 cities increased by 8.9% YoY and 9.9% YTD, while tier-1 cities saw a 3.6% YoY and 5.3% YTD increase [3][9] - The strong secondary listing volume is attributed to upgrade demand, weakening price expectations, and declining rental prices [3] Developer Performance - Among SOE developers, Poly Property reported a 127% growth in contract sales, primarily due to a new project launch in Shenzhen [4] - SOE developers' market share increased by 7 percentage points to 57%, while POE developers' share decreased to 31% [4] Sales Data Insights - The combined attributable contract sales value for the top 100 developers dropped by 22% YoY in August, compared to a 26% decline in July [12] - The gross contract sales GFA for the top 100 developers fell by 32% YoY in August, versus a 25% decline in July [13] Risks and Opportunities - Key downside risks include government policies restricting demand and mortgage lending, tight financing for developers, and lower-than-expected residential growth [32] - Upside risks involve potential policy loosening that could boost residential property sales and prices [32] Additional Observations - The overall market remains weak, with significant pressure on inventory and sales performance across various developer categories [2][4] - The luxury segment shows resilience, indicating a potential bifurcation in market performance between high-end and lower-tier properties [2][3] This summary encapsulates the critical insights from the conference call regarding the current state of the China property market, highlighting both challenges and areas of resilience within the sector.

北京商报讯（记者 王寅浩 李晗）9月4日，融创中国披露8月未经审核经营简报。简报显示，8月融创中 国、附属公司连同合营公司及联营公司实现合同销售金额约53.9亿元，合同销售面积约13万平方米，合 同销售均价约4.15万元/平方米。 ...

Company News - Sun Hung Kai Properties (00016.HK) reported a revenue of HKD 79.721 billion for the fiscal year 2025, an increase of 11.5% year-on-year; net profit reached HKD 19.277 billion, up 1.2% year-on-year [2] - Sincere Watch International (00732.HK) recorded a net operating revenue of approximately HKD 11.011 billion for the first eight months, a decrease of 5.5% year-on-year; in August, the net operating revenue was about HKD 1.445 billion, down 6.5% year-on-year [2] Financial Activities - China Construction Bank (00939.HK) announced that CCB Financial Leasing plans to increase its capital by HKD 3 billion to CCB Shipping and Aviation [3] Pharmaceutical Developments - Heng Rui Medicine (01276.HK) received approval to conduct clinical trials for RSS0393 ointment, which can alleviate tissue damage and inflammation related to atopic dermatitis [4] - Heng Rui Medicine (01276.HK) also received approval for clinical trials of HRS-4729 injection, a tri-agonist for GLP-1R/GIPR/GCGR [4] Real Estate Sales Performance - China Overseas Land & Investment (00688.HK) reported a contracted sales amount of HKD 150.331 billion for the first eight months, a decline of 16.5% year-on-year; August contracted sales were HKD 18.33 billion, down 0.7% year-on-year [5] - Sunac China (01918.HK) recorded a contracted sales amount of approximately HKD 30.47 billion for the first eight months, a decrease of 13% year-on-year; August contracted sales were HKD 5.39 billion, down 26.7% year-on-year [5] - China Overseas Grand Oceans Group (00081.HK) reported a contracted sales amount of HKD 20.783 billion for the first eight months, a decline of 10.6% year-on-year; August contracted sales were HKD 2.133 billion, an increase of 6.1% year-on-year [5] - Gemdale Corporation (00535.HK) reported a total contracted sales of approximately HKD 7.588 billion for the first eight months, a decrease of 39% year-on-year; August contracted sales were HKD 608 million, down 52.9% year-on-year [5] - Hongyang Real Estate (01996.HK) reported a contracted sales amount of HKD 3.506 billion for the first eight months, a decrease of 42.2% year-on-year; August contracted sales were HKD 299 million, down 48.5% year-on-year [5] - Ronshine China Holdings (03301.HK) reported a contracted sales amount of approximately HKD 2.7 billion for the first eight months, a decline of 46.4% year-on-year; August contracted sales were about HKD 130 million, down 87.9% year-on-year [5] Share Buyback Activities - HSBC Holdings (00005.HK) repurchased 2.01 million shares at a cost of approximately HKD 200 million, with prices ranging from HKD 98.75 to HKD 100.3 [6] - Midea Group (00300.HK) repurchased 310,000 shares at a cost of approximately HKD 25.849 million, with prices ranging from HKD 83.3 to HKD 83.5 [6] - Hang Seng Bank (00011.HK) repurchased 210,000 shares at a cost of approximately HKD 23.799 million, with prices ranging from HKD 112.9 to HKD 113.7 [6] - MGM China Holdings (02282.HK) repurchased 1 million shares at a cost of approximately HKD 15.687 million, with prices ranging from HKD 15.58 to HKD 15.97 [6] Shareholding Changes - Kanglong Chemical (03759.HK) completed a share reduction plan, with a total of 26.6729 million shares reduced [6] - Sinopec Limited (00386.HK) canceled 67.624 million shares that had been repurchased [6]

9月4日，融创中国发布2025年8月未经审核营运数据。 报告显示，8月，集团实现合同销售金额约人民币53.9亿元，合同销售面积约13.0万平方米，合同销售均 价约人民币41,460元/平方米。 截至2025年8月底，集团累计实现合同销售金额约人民币304.7亿元，累计合同销售面积约92.2万平方 米，合同销售均价约人民币33,050元/平方米。 ...

融创中国在港交所公告，2025年8月，实现合同销售金额约53.9亿元，合同销售面积约13万平方米，合 同销售均价约41460元/平方米。截至2025年8月底，累计实现合同销售金额约304.7亿元，累计合同销售 面积约92.2万平方米，合同销售均价约33050元/平方米。 （文章来源：第一财经） ...

Core Viewpoint - Sunac China (01918) reported a significant decline in contract sales for August 2025, indicating ongoing challenges in the real estate market [1] Group 1: Sales Performance - In August 2025, the company achieved a contract sales amount of approximately RMB 5.39 billion, representing a year-on-year decrease of 26.67% [1] - The total contract sales area for the month was about 130,000 square meters, with an average contract sales price of approximately RMB 41,460 per square meter [1] Group 2: Cumulative Sales Data - As of the end of August 2025, the company’s cumulative contract sales amount reached approximately RMB 30.47 billion, reflecting a year-on-year decrease of 13.04% [1] - The cumulative contract sales area was around 922,000 square meters, with an average contract sales price of approximately RMB 33,050 per square meter [1]

Group 1 - The core viewpoint of the article is that Sunac China (01918.HK) reported significant contract sales figures for August 2025, indicating a strong performance in the real estate market [1] - In August 2025, the company achieved a contract sales amount of approximately RMB 5.39 billion, with a contract sales area of about 130,000 square meters and an average contract sales price of approximately RMB 41,460 per square meter [1] - As of the end of August 2025, the cumulative contract sales amount reached approximately RMB 30.47 billion, with a total contract sales area of about 922,000 square meters and an average contract sales price of approximately RMB 33,050 per square meter [1]

Core Viewpoint - Sunac China (01918) reported a significant decline in contract sales for August 2025, indicating challenges in the real estate market [1] Group 1: Contract Sales Performance - In August 2025, the company achieved a contract sales amount of approximately RMB 5.39 billion, representing a year-on-year decrease of 26.67% [1] - The total contract sales area for the same period was about 130,000 square meters, with an average contract sales price of approximately RMB 41,460 per square meter [1] Group 2: Cumulative Sales Data - As of the end of August 2025, the company’s cumulative contract sales amount reached approximately RMB 30.47 billion, reflecting a year-on-year decrease of 13.04% [1] - The cumulative contract sales area was around 922,000 square meters, with an average contract sales price of approximately RMB 33,050 per square meter [1]

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8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: 融創中國控股有限公司（「本公司」） 呈交日期: 2025年9月4日 | 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) | 01918 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 15,000,000,000 | HKD | | 0.1 HKD | | 1,500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 15,000,000,000 | HKD | | 0.1 HKD | | 1,500,000,000 | 本月底法定/註冊股本總額： HKD 1,500,000, ...

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 CHINA HOLDINGS LIMITED 2025年8月，本集團實現合同銷售金額約人民幣53.9億元，合同銷售面積約13.0萬平 方米，合同銷售均價約人民幣41,460元/平方米。 截至2025年8月底，本集團累計實現合同銷售金額約人民幣304.7億元，累計合同銷 售面積約92.2萬平方米，合同銷售均價約人民幣33,050元/平方米。 上述銷售數據未經審核， 乃根據本集團初步內部資料編製， 鑒於收集該等銷售數據 過程中存在各種不確定性因素， 該等銷售數據與本公司按年度或半年度刊發的經審 核或未經審核綜合財務報表中披露的數字可能存在差異， 因此上述數據僅供投資者 參考。投資者買賣本公司證券時務需謹慎行事，避免不恰當地依賴該等資料。如有 任何疑問，投資者應尋求專業人士或財務顧問的專業意見。 承董事會命 融創中國控股有限公司 主席 孫宏斌 香港，2025年9月4日 融創中國控股有限公司 （於開 ...