Financial Performance - Revenue amounted to RMB2,712.3 million, representing a decrease of 54.8% compared to the corresponding period of 2024 (RMB6,006.4 million)[12] - The gross loss was RMB222.1 million, with a gross loss margin of 8.2%[12] - The net loss was RMB2,320.6 million, compared to a net loss of RMB1,710.3 million in the corresponding period of 2024[12] - For the six months ended June 30, 2025, the Group's revenue was approximately RMB2,712.3 million, a decrease of 54.8% from RMB6,006.4 million in the same period last year[75] - Revenue from property sales decreased by 55.5% to approximately RMB2,545.3 million, accounting for 93.8% of total recognized revenue[75] - The Group reported a gross loss of approximately RMB222.1 million, turning from a gross profit of approximately RMB532.0 million in the previous year[81] - The gross loss margin was 8.2%, compared to a gross profit margin of 8.9% for the same period last year[81] - Total comprehensive loss for the period was RMB2,320,581, up from RMB1,710,314 in the previous year[199] - Loss before taxation increased to RMB1,975,604, compared to RMB1,584,868 in 2024, reflecting a worsening financial position[199] - Loss attributable to owners of the parent was RMB1,883,732, compared to RMB1,784,029 in 2024, indicating increased losses[199] - Basic and diluted loss per share attributable to ordinary equity holders was RMB 56 cents, compared to RMB 53 cents in the prior year[199] Sales and Market Trends - Contracted sales reached RMB2.870 billion, with an aggregated sales area of 213,600 square meters and an average selling price of RMB13,438 per square meter[12] - In the first half of 2025, the Group achieved contracted sales of approximately RMB 2.870 billion, representing a decrease of 40.4% compared to RMB 4.812 billion in the same period last year[29] - The sales area of newly built commercial properties decreased by 3.5% year-on-year, with a sales amount of RMB4.4241 trillion, down 5.5%[14] - The total sales area of newly built commercial housing in the first half of 2025 was 45.851 million square meters, a year-on-year decrease of 3.5%, with residential sales area down 3.7%[16] - The sales amount for newly built commercial housing was RMB 442.41 billion, a decline of 5.5%, while residential sales amount decreased by 5.2%[16] - First-tier and strong second-tier cities showed signs of stability, with increased transactions driven by demand-side policy stimulus[14] - The real estate market is transitioning from a downturn to stabilization, but third- and fourth-tier cities continue to experience weak housing purchase demand[14] Operational Strategy - The Company will focus on destocking and accelerating cash collection to activate capital efficiency while ensuring timely delivery and quality control[25] - The Company aims to strengthen refined asset operation and ensure asset-liability matching to enhance overall operational efficiency[19] - The outlook for the second half of 2025 includes increased efforts in urban village renovation and optimization of restrictive policies in key cities to unleash potential demand[24] Financial Position and Debt - As of June 30, 2025, the Group's cash and bank balances were approximately RMB0.82 billion, down from approximately RMB1.24 billion as of December 31, 2024[100] - Total borrowings as of June 30, 2025, amounted to approximately RMB20.69 billion, a slight decrease from approximately RMB21.15 billion as of December 31, 2024[101] - The Group's net gearing ratio was approximately 414.4% as of June 30, 2025, compared to 277.5% as of December 31, 2024[112] - The debt-to-asset ratio was approximately 91.2% as of June 30, 2025, compared to 88.0% on December 31, 2024[116] - The Group had unprovided capital and property development commitments of approximately RMB 2.71 billion as of June 30, 2025, down from RMB 3.11 billion on December 31, 2024[117] Corporate Governance and Compliance - The company is actively managing its corporate governance and compliance with relevant regulations[170] - The audit committee has reviewed the unaudited condensed consolidated interim results for the six months ended June 30, 2025, confirming compliance with applicable accounting principles and sufficient disclosures[195][197] - The company has maintained sufficient public float as required by the Listing Rules, with at least 25% of the total issued share capital held by the public[185][186] Shareholding and Equity - As of June 30, 2025, Mr. Zeng Huansha holds a long position of 2,400,000,000 shares, representing 71.88% of the company's shareholding[167] - Major shareholders include Hong Yang Group Company, Hong Yang International, and Mr. Zeng Huansha, all holding 71.88% of the shares through controlled corporations[182] - The company has a significant number of controlled corporations, with shareholdings ranging from 72.77% to 100% in various subsidiaries[171] Future Outlook - The real estate policy environment is expected to remain accommodative in the second half of 2025, with policies aimed at stabilizing expectations and stimulating demand likely to be fully implemented[20] - The company is focusing on expanding its market presence through strategic investments in high-potential regions such as Foshan and Hefei[40]

內幕消息 延長提早重組支持協議費用期限 及基礎重組支持協議費用期限 本 公 告 乃 由 弘 陽 地 產 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」） 根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第13.09條以及香港法 例第571章證券及期貨條例（「證券及期貨條例」）第XIVA部項下的內幕消息條文（定 義 見 上 市 規 則）作 出。 茲提述(i)本公司日期為2025年1月23日 的 公 告，內 容 有 關 本 公 司 與 相 關 同 意 債 權 人 訂 立 重 組 支 持 協 議；(ii)本公司日期為2025年2月21日 的 公 告，內 容 有 關 延長提早重組支持協議費用期限；及(iii)本公司日期為2025年3月7日、2025年3月 21日、2025年4月3日、2025年4月17日、2025年5月2日、2025年5月16日、2025年5 月30日、2025年6月13日、2025年6月27日、2025年7月11日、2025年7月25日、2025 年8月8日、2025年8月22日 及2025年9月5日 的 公 告，內 容 有 ...

Group 1: Blue Light Development - Blue Light Development has been added to the list of dishonest executors, with 25 new entries from June 17, 2025, to September 16, 2025 [1] - The company reported a net loss of 2.552 billion yuan for the first half of 2025, primarily due to an operating loss of approximately 1.88 billion yuan, impairment provisions of 194 million yuan, and non-operating losses of 480 million yuan [2] - As of the latest update, Blue Light Development has 15 defaulted bonds totaling 12.067 billion yuan, with 3 offshore bonds remaining in circulation, totaling 1.05 billion USD, all of which are also in default [2] Group 2: Guanghui Automobile Service - Guanghui Automobile Service has been added to the list of dishonest executors, along with its subsidiaries, due to failure to pay rent and penalties as per court judgment [2] - The company’s chairman and controlling shareholder have also been restricted from high consumption activities [2] - Guanghui Automobile Service has 3 defaulted bonds amounting to 2.117 billion yuan [3] Group 3: ST Dongshi - ST Dongshi has had its bank accounts frozen for an amount of 265.2 million yuan due to a court ruling related to a liability dispute [3] - The company expects a net profit loss of between 126 million yuan and 105 million yuan for the first half of 2025, primarily due to declining revenue and high fixed costs [4] - ST Dongshi reported a continuous net loss of 903 million yuan in 2024 and 362 million yuan in 2023 [4] Group 4: Shandong Shengtong Group - Shandong Shengtong Group has defaulted on 9 bonds, with a total default amount of 5.756 billion yuan [4] - Ordinary creditors received a distribution of 0.2% of their unpaid claims as part of the bond default process [4] Group 5: Hongyang Real Estate - Hongyang Real Estate's liquidation hearing has been postponed to March 23, 2026, with support from several priority noteholders [5] - The company reported a revenue of approximately 2.712 billion yuan for the first half of 2025, a decrease of 54.8% compared to the same period in 2024 [5] - The net loss attributable to the parent company was approximately 1.884 billion yuan, an increase of 5.59% year-on-year [5] - Hongyang Real Estate has 6 offshore bonds in circulation, with a total outstanding balance of 1.5134 billion USD, all of which are in default [6]

Core Points - Hongyang Real Estate has received approval from the Hong Kong High Court for a deferral application, supported by several priority noteholders, with the hearing for the winding-up petition postponed to March 23, 2026 [1] - The winding-up petition was originally filed by the London branch of the Bank of New York Mellon, concerning financial obligations of no less than $228.5 million, related to the company's $200 million 9.50% secured notes due in 2023 [1]

Core Viewpoint - Hongyang Real Estate (01996) has received approval from the High Court for a deferral application supported by several priority noteholders, with the hearing now postponed to March 23, 2026 [1] Group 1 - The company expresses gratitude for the ongoing support and participation of its creditors [1] - The company will continue to advance the restructuring process in an orderly manner with consensus among all parties involved [1]

Core Viewpoint - Hongyang Real Estate (01996) has received approval from the High Court for a deferral application, supported by several priority noteholders, with the hearing now postponed to March 23, 2026 [1] Group 1 - The High Court approved the deferral application on September 15, 2025 [1] - The hearing for the application has been postponed to March 23, 2026 [1] - The company expresses gratitude for the continued support and participation of its creditors [1] Group 2 - The company will continue to advance the restructuring process in an orderly manner with consensus from all parties involved [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，並明確表示概不對因本公告全部或任何部分內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 Redsun Properties Group Limited 弘陽地產集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1996） 本公司感謝債權人的持續支持及參與，並將繼續有序推進各方一致意見的重組。 董 事 會 將 就 有 關 該 呈 請 的 任 何 重 大 進 展 知 會 其 股 東 及 投 資 者，本 公 司 將 適 時 或 根據上市規則規定另行刊發公告。 – 1 – 本公司股東及潛在投資者於買賣本公司證券時務請審慎行事。 內幕消息 清盤呈請更新 本 公 告 乃 由 弘 陽 地 產 集 團 有 限 公 司（「本公司」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第13.09(2)(a)條及第13.25(1)(b)條，以及香港法例第571章 證券及期貨條例第XIVA部 項 下 的 內 幕 消 息 條 文（定 義 見 上 市 規 則）作 出。 ...

Core Viewpoint - Hongyang Real Estate reported its unaudited operational data for the period ending August 31, 2025, indicating a significant performance in contract sales and pricing trends [1] Group 1: Sales Performance - In August 2025, Hongyang Real Estate achieved a contract sales amount of RMB 299 million, with a sales area of 23,249 square meters, resulting in an average sales price of RMB 12,853 per square meter [1] - From January to August 2025, the company recorded a cumulative contract sales amount of RMB 3.506 billion, with a total sales area of 262,100 square meters, and an average sales price of RMB 13,377 per square meter [1]

Core Viewpoint - Hongyang Real Estate (01996.HK) has exercised its discretion to extend the deadline for the restructuring support agreement fee from September 5, 2025, to September 19, 2025, and the base restructuring support agreement fee deadline from September 19, 2025, to October 3, 2025 [1] Group 1 - The company has announced the extension of the restructuring support agreement fee deadline [1] - The new deadline for the base restructuring support agreement fee is now set for October 3, 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，並明確表示概不對因本公告全部或任何部分內容而產生 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，並不構成收購、購買或認購本公司證券的邀請或要約。於美國或任何其他 根據任何有關司法權區證券法例登記或合資格前作出有關提呈、招攬或出售則屬不合法的 司法權區，本公告並非亦不構成提呈購買或出售或招攬購買或出售任何證券的要約的任何 部 分。本 公 告 所 述 證 券 未 曾 亦 不 會 根 據1933年 美 國 證 券 法 登 記，未 辦 理 登 記 或 未 獲 豁 免 登 記前，不得在美國境內發售、出售或以其他方式轉讓。於美國公開發售任何證券將以發售章 程 形 式 進 行，有 關 發 售 章 程 可 向 本 公 司 獲 取，並 將 載 有 關 於 本 公 司 及 其 管 理 層 以 及 財 務 報 表的詳盡資料。本公司無意於美國登記本公告所述任何發售的任何部分。 Redsun Properties Group Limited 尚未加入重組支持協議的所有現有債務持有人可盡快考慮重組支持協議的條款 ...