Summary of Key Points Core Viewpoint - A total of 142 stocks reached their 52-week highs as of August 12, with notable performers including Yingmei Holdings (02028), Elite Group (01775), and Fuying Global Group (01620) achieving high rates of 164.89%, 84.78%, and 40.63% respectively [1]. Stock Performance - **Top Performers**: - Yingmei Holdings (02028) closed at 0.223 with a peak of 0.249, marking a 164.89% increase [1]. - Elite Group (01775) closed at 0.350 with a peak of 0.425, reflecting an 84.78% increase [1]. - Fuying Global Group (01620) closed at 0.180, reaching its peak at 0.180, showing a 40.63% increase [1]. - **Other Notable Stocks**: - Aoya Group (02425) increased by 34.36% [1]. - Fuyiy International Holdings (01470) saw a rise of 28.30% [1]. - Huajian Medical (01931) experienced a 27.58% increase [1]. 52-Week High Rankings - The ranking of stocks that reached their 52-week highs includes: - Yingmei Holdings (02028) at 164.89% [1]. - Elite Group (01775) at 84.78% [1]. - Fuying Global Group (01620) at 40.63% [1]. 52-Week Low Rankings - The report also highlights stocks that reached their 52-week lows, with notable declines including: - Jiadeng International Group (08153) at -15.25% [4]. - Kun Group (00924) at -12.86% [4]. - Zhongjia Guoxin (00899) at -10.00% [4].

Group 1 - The company announced that approximately 83% of the total outstanding principal amount of existing notes and 66% of the total outstanding principal amount of debt within the scope have joined or provided instructions to join the restructuring support agreement [1] - Due to several plan creditors needing additional time to complete their internal procedures for joining the restructuring support agreement, the company has extended the deadlines [1] - The early consent fee deadline has been extended from August 7, 2025, to August 21, 2025, and the basic consent fee deadline has been extended from August 21, 2025, to September 4, 2025 [1]

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。 本公告僅供參考用途，並不構成收購、購買或認購本公司證券的邀請或要約。 本公告並非亦不構成於美國或任何其他未有根據任何有關司法權區證券法例辦理 登記或取得資格前作出有關要約、游說或出售則屬違法的司法權區購買或出售任 何證券的要約或要約購買或出售該等證券的游說的任何部分。本公告所述證券不 曾亦不會根據一九三三年美國證券法登記，而證券在未辦理登記或未獲豁免登記 的情況下不得在美國發售、出售或以其他方式轉讓。將於美國公開發售的任何證 券將以售股章程形式作出。該售股章程將載有關於作出要約的公司及其管理層以 及 財 務 報 表 的 詳 細 資 料 。 本 公 司 並 無 計 劃 在 美 國 登 記 本 公 告 所 述 發 售 的 任 何 部 分。 CHINA SCE GROUP HOLDINGS LIMITED 中 駿 集 團 控 股 有 限 公 司 ...

Core Viewpoint - Zhongjun Group Holdings (01966.HK) has seen a decline in stock price, closing at 0.100 HKD, marking a 3.85% drop and reaching a new low in nearly a year [1] Company Overview - Founded in 1987 and headquartered in Shanghai, Zhongjun Group is a comprehensive urban operation service provider focused on real estate development and related sectors [1] - The company was successfully listed on the Hong Kong Stock Exchange in February 2010 under the stock code 01966.HK [1] - Zhongjun Group's business encompasses residential development, commercial real estate, long-term rental apartments, cultural tourism real estate, industrial real estate, large shopping center operations, property management for residential and public facilities, education, health management, and financial services including fund management and investment [1] - The company employs over 10,000 people and has been recognized as one of the "Top 50 Real Estate Development Enterprises in China" for six consecutive years and has been included in the "Fortune China 500" for five consecutive years [1] - In 2020, Zhongjun Group achieved a sales scale exceeding 100 billion RMB [1] Business Development - The company has experienced sustained high growth in its core residential development business while also launching two new core businesses: Zhongjun Commercial Management Smart Services and Fangyu Long-term Rental Apartments [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7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: 中駿集團控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 01966 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 4,222,986,126 | | 0 | | 4,222,986,126 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 4,222,986,126 | | 0 | | 4,222,986,126 | 第 2 頁 共 10 頁 ...

Core Insights - The report from the China Index Academy indicates that the delivery scale of real estate companies in the first half of 2025 has peaked and is on a downward trend, with pressures on delivery easing in the industry [1][7]. Delivery Scale Rankings - In the first half of 2025, the top real estate company delivered over 50,000 units, with 15 companies delivering more than 10,000 units each [1]. - The delivery numbers for major companies have generally decreased compared to the same period last year, with companies like Greenland, Sunac, and Jianye experiencing declines of over 50% [1]. Company Performance - The report highlights that delivery capability has become a core competitive advantage for real estate companies, with some firms managing to gain market trust by enhancing quality and optimizing services despite the overall contraction in delivery scale [7]. Market Dynamics - The new housing market remains stable, supported by the combination of "good cities + good houses," although there has been a slight weakening in the market in the second quarter [5]. - The government is expected to take stronger measures to stabilize expectations, activate demand, optimize supply, and mitigate risks in the real estate market in the second half of the year [6]. Delivery Quality Improvement - Real estate companies are focusing on product delivery and service optimization to enhance delivery quality, utilizing methods such as open construction days and live broadcasts to build customer trust [4].

Group 1 - The iBoxx China USD bond investment-grade index rose by 0.59% and the speculative-grade index increased by 1.25% [2] - The People's Bank of China and six departments issued guidelines to support consumption and stabilize economic expectations, emphasizing the importance of monetary policy and fiscal policy coordination [2] - The manufacturing PMI for June was reported at 49.7%, while the non-manufacturing PMI was at 50.5%, indicating a slight recovery in economic activity [3] Group 2 - The issuance scale of offshore bonds decreased in the primary market, while the secondary market saw slight increases in investment-grade and high-yield bond indices [3] - The energy futures prices dropped due to easing tensions in the Middle East, affecting related bonds in the petrochemical sector [4] - The real estate high-yield bond index showed a slight increase, with companies like Vanke completing significant bond repayments [4] Group 3 - Zhongjun Group signed a restructuring support agreement to restructure $2.271 billion in debt [5] - Shenzhen Longguang Holdings sent a restructuring proposal to creditors for 21 company bonds and asset-backed securities [5] - CIFI Holdings announced that its offshore debt restructuring plan was approved by the court [5] Group 4 - The U.S. core PCE price index rose by 2.7% year-on-year, slightly above market expectations, while personal consumption expenditures fell by 0.3% month-on-month [6] - The Hong Kong government reopened existing 3-year and 5-year government bonds, with issuance sizes of HKD 1.25 billion each [9] - The National Development Bank successfully issued dual-currency bonds in the international market, achieving a high subscription rate [9] Group 5 - S&P restored the credit rating of China Great Wall Asset Management to "BBB" with a stable outlook after a capital injection [15] - Moody's upgraded Shanghai Electric's rating to "Baa2" with a positive outlook, expecting improved leverage ratios [16] - New World Development secured written commitments from all banks for a HKD 87.5 billion refinancing [29]

Core Points - The company has successfully obtained approval from the British Virgin Islands court to withdraw the liquidation application against Yu Wei International on June 23, 2025 [1]

Core Insights - The Kunming real estate market experienced a decline in transaction volume but an increase in prices, driven by the sales of upgraded residential products with zero public area [1][3] - The first fourth-generation residential project, Yicheng·Danxia Cuiyu, launched with an average transaction price exceeding 20,000 yuan per square meter [1][10] - The latest LPR remained unchanged, with the one-year LPR at 3.1% and the five-year LPR at 3.6% [15] Market Performance - Last week, Kunming's real estate market saw a total supply of 13,100 square meters, a 17% decrease week-on-week, while transactions reached 51,900 square meters, a slight 3% decline [1] - The average transaction price was approximately 13,341 yuan per square meter, reflecting a 4% increase compared to the previous week [1] - The top-selling fourth-generation residential project, Bangtai·Guanyun, achieved a sales amount of about 78 million yuan, with an average transaction price of approximately 18,892 yuan per square meter [3] Project Launches - The Yicheng·Danxia Cuiyu project sold 190 high-rise units with a total sales of 350 million yuan during its initial launch, achieving a take-up rate of about 24% [5][10] - The project emphasizes zero public area and features a fully intelligent community, integrating advanced technology with high-quality residential offerings [12] - Another project, Zhuoyue Dianchi Qingcui A3, launched 126 units with a take-up rate of approximately 41% and an average transaction price between 10,500 and 12,000 yuan per square meter [13] Land Transactions - Only one commercial land parcel was sold last week, measuring approximately 23.43 acres, acquired by Kunming Rail Transit Group for 86.22 million yuan, with a floor price of about 3,450 yuan per square meter [5] Policy Updates - The new housing purchase subsidy policy was implemented across five districts in Kunming, allowing for refunds up to 30,000 yuan [15]

Financial Performance - For the year ended 31 December 2024, the Group reported revenue of RMB 40,770,075, representing a 94.5% increase compared to RMB 20,960,968 in 2023[18]. - Gross profit for the same period was RMB 6,235,537, which is a 137.0% increase from RMB 2,630,992 in 2023[18]. - The loss attributable to owners of the parent decreased slightly to RMB (7,863,349) from RMB (7,991,050), reflecting a 1.6% improvement[18]. - The Group recorded a loss attributable to owners of the parent of approximately RMB 7.863 billion due to impairment provisions and fair value losses on investment properties[29][32]. - The Group achieved recognised property sales income of approximately RMB 38.843 billion in 2024, representing a year-on-year increase of approximately 103.4%[68]. - The average selling price of properties rose to RMB 14,907 per sq.m. in 2024, reflecting a significant year-on-year increase of approximately 82.8%[68]. - The total revenue for 2024 increased by approximately 94.5% to approximately RMB 40.770 billion from approximately RMB 20.961 billion in 2023[80]. - Property management fees increased by approximately 3.2% to approximately RMB 1.202 billion in 2024, driven by an increase in the number and floor area of properties under management[82]. - Rental income grew by approximately 9.2% to approximately RMB 578.634 million in 2024, mainly due to contributions from newly opened shopping malls[83]. Assets and Liabilities - Total assets as of 31 December 2024 were RMB 128,285,226, down 23.6% from RMB 167,889,687 in 2023[20]. - Cash and bank balances decreased by 37.3% to RMB 4,045,017 from RMB 6,448,926 in 2023[20]. - Total liabilities decreased by 20.1% to RMB (117,715,353) from RMB (147,407,361) in 2023[20]. - Total equity fell by 48.4% to RMB 10,569,873 compared to RMB 20,482,326 in 2023[20]. - The Group's total assets pledged to secure bank and other borrowings and domestic bonds amounted to RMB 63,437,677,000 in 2024, slightly down from RMB 63,579,208,000 in 2023[121]. - Total borrowings as of December 31, 2024, amounted to RMB 35,418,566,000, a slight decrease from RMB 35,907,119,000 in 2023[116]. - As of December 31, 2024, the net gearing ratio was approximately 296.8%, a significant increase from 143.8% as of December 31, 2023[122][125]. Sales and Market Performance - Contracted sales amounted to approximately RMB 11.226 billion, with a contracted sales area of approximately 1.23 million sq.m, representing a year-on-year decrease of approximately 59.6% and 46.5%, respectively[30][33]. - The four cities with the largest contracted sales were Hangzhou, Beijing, Nanjing, and Suzhou, accounting for approximately 40.3% of the total contracted sales amount[31]. - The Yangtze River Delta Economic Zone accounted for approximately 41.3% of the total contracted sales amount, with sales of approximately RMB 4.640 billion[64]. - The sales of newly developed national commodity houses in 2024 amounted to approximately RMB 9,675 billion, a year-on-year decrease of 17.1%[49]. - The sales area of newly developed national commodity houses was approximately 974 million sq.m., representing a year-on-year decrease of 12.9%[49]. Operational Strategy and Development - The Company aims to maintain a proactive and prudent development strategy to secure its regional leading position[6]. - The Group plans to enhance property project management, ensure project progress, and improve product quality to meet the demand for improved properties[36][38]. - The Group will deepen regional business management of shopping mall operations and enhance operational performance through targeted strategies[40]. - The Group prioritizes "Ensuring Delivery" in its business operations, aiming for excellence and strengthening competitiveness in its "Two Wings" business[41]. - The Group's focus on long-term rental apartments and shopping malls is part of its strategy to enhance operational efficiency[65]. Governance and Management - The company has a strong management team with over 29 years of real estate development experience among its founders, which supports strategic decision-making[170][171]. - The company has established subsidiaries in the PRC, Hong Kong, the Cayman Islands, and the British Virgin Islands, indicating a broad market presence[174][176]. - The company emphasizes the importance of corporate governance and has established various committees to ensure compliance and effective management[182][183]. - The company has a corporate governance committee chaired by Huang Youquan, emphasizing its focus on governance practices[173]. - The independent non-executive director, Ting Leung Huel Stephen, has over 40 years of experience in accounting and auditing, contributing to the board's expertise[178]. Employee and Customer Relations - As of December 31, 2024, the Group employed a total of 6,201 employees, a decrease from 6,845 employees in 2023, with total employee costs approximately RMB 660,062,000 compared to RMB 943,489,000 in 2023[136]. - The male-to-female ratio in the workforce is approximately 1:0.57, with 3,950 male employees and 2,251 female employees, which the Board considers satisfactory[136]. - The Group emphasizes customer satisfaction and has conducted a residential customer satisfaction survey to gather feedback and improve project quality and services[149]. - The company maintains strong relationships with existing and potential clients, emphasizing customer satisfaction through various feedback channels and surveys[153]. Future Outlook - Looking forward to 2025, the Group expects the real estate market to continue to bottom out, with anticipated government policies to boost market confidence[35][38]. - The real estate market in China is expected to bottom out due to government policies aimed at stabilizing the market[48].