Group 1 - In October, the company achieved a contract sales amount of approximately RMB 1.01 billion, with a contract sales area of about 88,000 square meters and an average contract sales price of approximately RMB 11,480 per square meter [1] - As of October 31, 2025, the company has cumulatively achieved a contract sales amount of approximately RMB 32.77 billion, with a cumulative contract sales area of about 1.089 million square meters and an average contract sales price of approximately RMB 30,090 per square meter [1]

Core Insights - Sunac China announced a contract sales amount of approximately RMB 1.01 billion for October 2025, with a contract sales area of about 88,000 square meters and an average contract sales price of approximately RMB 11,480 per square meter [1] - As of the end of October 2025, the cumulative contract sales amount reached approximately RMB 32.77 billion, with a total contract sales area of about 1.089 million square meters [1]

截至2025年10月底，集团累计实现合同销售金额约人民币327.7亿元，同比下降25.1%;累计合同销售面 积约108.9万平方米，合同销售均价约人民币30090元/平方米。 融创中国(01918)发布公告，2025年10月，集团实现合同销售金额约人民币10.1亿元，同比下降86.2%;合 同销售面积约8.8万平方米，合同销售均价约人民币11480元/平方米。 ...

截至2025年10月底，集团累计实现合同销售金额约人民币327.7亿元，同比下降25.1%;累计合同销售面 积约108.9万平方米，合同销售均价约人民币30090元/平方米。 智通财经APP讯，融创中国(01918)发布公告，2025年10月，集团实现合同销售金额约人民币10.1亿元， 同比下降86.2%;合同销售面积约8.8万平方米，合同销售均价约人民币11480元/平方米。 ...

截至2025年10月底，集团累计实现合同销售金额约人民币327.7亿元，累计合同销售面积约108.9万平方 米，合同销售均价约人民币30,090元/平方米。 格隆汇11月6日丨融创中国(01918.HK)发布公告，2025年10月，集团实现合同销售金额约人民币10.1亿 元，合同销售面积约8.8万平方米，合同销售均价约人民币11,480元/平方米。 ...

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10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11月6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) | 01918 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 30,000,000,000 | HKD | | 0.1 HKD | | 3,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 30,000,000,000 | HKD | | 0.1 HKD | | 3,000,000,000 | 本月底法定/註冊股本總額： ...

SUNAC CHINA HOLDINGS LIMITED 融創中國控股有限公司 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。 融創中國控股有限公司（「本公司」）董事會（「董事會」）宣佈本公司、附屬公司連同合 營公司及聯營公司（「本集團」）2025年10月若干未經審核營運數據如下： 2025年10月，本集團實現合同銷售金額約人民幣10.1億元，合同銷售面積約8.8萬平 方米，合同銷售均價約人民幣11,480元/平方米。 截至2025年10月底，本集團累計實現合同銷售金額約人民幣327.7億元，累計合同銷 售面積約108.9萬平方米，合同銷售均價約人民幣30,090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 ...

Core Viewpoint - The real estate industry is experiencing a peak in debt maturity, with significant debt restructuring progress among leading companies, providing critical confidence for risk mitigation in the sector [1][2][3]. Group 1: Debt Maturity and Restructuring - In Q3 2023, the total debt due for real estate companies reached approximately 160 billion yuan, accounting for 29.95% of the annual total of 534.2 billion yuan [1]. - Sunac China successfully completed its offshore debt restructuring plan, amounting to about 9.6 billion USD, becoming the first major real estate company to achieve a near-zero offshore debt status [2]. - Country Garden's offshore debt restructuring plan, involving approximately 17.7 billion USD, was also approved, marking a significant milestone for the company [3]. Group 2: Restructuring Strategies - Sunac's restructuring plan featured an innovative tiered conversion design, offering creditors two types of mandatory convertible bonds with different conversion prices, enhancing acceptance of the plan [2]. - Country Garden's restructuring utilized a diverse toolkit, including cash buybacks, equity instruments, new debt swaps, and physical interest payments, providing creditors with multiple options [3]. Group 3: Industry-Wide Trends - As of October 30, 2023, 21 distressed real estate companies have completed or received approval for debt restructuring, with a cumulative debt relief of approximately 1.2 trillion yuan, significantly alleviating short-term repayment pressures [4]. - The successful restructuring efforts have led to a reduction in the total interest-bearing liabilities of these companies, which are close to 2 trillion yuan, creating a more favorable environment for industry stabilization [4]. Group 4: Market Outlook - The concentrated debt restructuring efforts have fostered positive expectations for the real estate market, with several brokerage firms expressing optimism about the industry's future [5]. - Analysts predict that the real estate market's supply and demand dynamics are improving, with a potential recovery beginning in 2026, as companies focus on asset-liability balance restoration [5][6]. - The decline in gross profit margins for real estate companies, primarily due to high land acquisition costs and market downturns, is showing signs of stabilization, which could support industry recovery [6].

多家房企债务重组现新进展 涉及化债金额约1.2万亿元 编辑：郭晋嘉 广告等商务合作，请点击这里 碧桂园的债务重组也有新进展。据该公司6日公告，碧桂园境外债务重组方案获投票通过，其中重组债 务规模约177亿美元(约1270亿元人民币)，对应约840亿元人民币有息债务，债务总额大幅降低。新债务 工具融资成本降至1.0%-2.5%，最长债务期限延长至11.5年，每年可节省巨额利息支出，且未来5年内无 集中兑付压力，为经营恢复提供了宝贵的缓冲期。此外，公告显示，碧桂园提供"现金回购+股权工具 +新债置换+实物付息"等多元组合选项，债权人可根据自身需求选择不同方案，多元工具组合提升了方 案通过的可能性。 据中指研究院监测数据，截至目前，内地21家出险房企债务重组、重整获批或完成，化债总规模约合 1.2万亿元人民币。 广东省住房政策研究中心首席研究员李宇嘉表示，此番不少企业债务重组方案的核心已不是展期，而是 直接"削债"，即通过债权转股权、降低债务偿还利率，直接减少债务。从已披露的"削债"比例来看，多 数企业境外债重组削减幅度超过50%，部分达到70%。 他指出，近年来，房地产发展新模式渐次落地，部分轻装上阵的房企取得业 ...

Core Viewpoint - Recent significant progress has been made in the debt restructuring of several real estate companies, with notable achievements from Sunac China and Country Garden, indicating a potential acceleration in the overall risk clearance process in the real estate sector [2][3][6]. Group 1: Sunac China - On November 5, Sunac China announced that its approximately $9.6 billion (about 96 billion) offshore debt restructuring was approved by the Hong Kong High Court, making it the first large real estate company to achieve a "zero" status in offshore debt [2][4]. - The successful restructuring is expected to reduce Sunac's overall debt pressure by nearly 60 billion (approximately 600 million) and save substantial interest expenses annually, leading to a significant repair of its balance sheet [4]. - Sunac is focused on delivering over 50,000 projects by the end of the year, which is crucial for restoring market confidence and maintaining social stability [5]. Group 2: Country Garden - On November 6, Country Garden announced that its offshore debt restructuring plan was approved with a high vote at the creditors' meeting held on November 5, achieving over 75% approval in both debt groups [6][7]. - The restructuring involves approximately $17.7 billion (about 127 billion) in debt, with an expected reduction of interest-bearing liabilities by about $11.7 billion (approximately 84 billion), significantly improving its balance sheet [7]. - The new debt instruments will have a financing cost reduced to 1.0%-2.5% and extend the debt maturity to 11.5 years, providing a valuable buffer period for operational recovery [7]. Group 3: Industry Overview - As of now, 21 distressed real estate companies have completed or received approval for debt restructuring, with a total debt reduction scale of approximately 1.2 trillion yuan, significantly alleviating short-term repayment pressures [3][8]. - The total interest-bearing liabilities of these companies are close to 2 trillion yuan, indicating a reduced short-term repayment pressure and entering a safer period [8]. - The successful debt restructuring of Sunac serves as a reference for other distressed companies, highlighting the importance of flexible restructuring plans and substantial debt reduction [8][9].