Performance Highlights - BeiGene (06160.HK) reported a revenue of 17.518 billion yuan for the first half of the year, a year-on-year increase of 46%; product revenue was 17.36 billion yuan, up 45.8%; net profit was 450 million yuan, turning from loss to profit [2] - Uni-President China (00220.HK) achieved approximately 17.087 billion yuan in revenue for the first half, a year-on-year increase of 10.6%; net profit was about 1.287 billion yuan, up 33.2% [2] - Zhiyu City Technology (09911.HK) announced a positive profit forecast, expecting mid-term revenue of approximately 3.135 to 3.215 billion yuan, a year-on-year increase of about 38.0% to 41.5%; net profit is expected to be around 470 to 510 million yuan, a year-on-year growth of approximately 108.9% to 126.7% [2] Earnings Forecasts - New World Development Company (00086.HK) expects mid-term net profit to increase to no less than 800 million HKD year-on-year [3] - Weizhi Jinkou (02003.HK) anticipates mid-term net profit exceeding 200 million HKD, a significant increase year-on-year [3] - Wing Chan Industrial (01596.HK) forecasts mid-term net profit of approximately 48.7 million HKD, turning from loss to profit [3] - Huaxian Optoelectronics (00334.HK) expects mid-term net profit to exceed 48.8 million HKD, a year-on-year increase of over 600% [3] - Maifushi (02556.HK) predicts mid-term net profit of approximately 31.8 to 41 million HKD, turning from loss to profit [4] - Xinwei Medical-B (06609.HK) expects mid-term net profit to exceed 40 million HKD, turning from loss to profit [5] - China Nuclear Technology (00611.HK) anticipates mid-term net profit growth of over 15% [6] Earnings Warnings - Hongxing Printing Group (00450.HK) expects mid-term net loss of approximately 49 million HKD, a significant increase year-on-year [7] - Zhongyu Land (01224.HK) forecasts mid-term net loss of approximately 40 million HKD, turning from profit to loss [7] - Beihai Group (00701.HK) anticipates mid-term net loss of 36 to 40 million HKD [8] Real Estate Sales Data - China Overseas Development (00688.HK) reported cumulative contract property sales of approximately 132 billion yuan for the first seven months, a year-on-year decrease of 18.3% [9] - Yuexiu Property (00123.HK) achieved cumulative contract sales of approximately 67.506 billion yuan for the first seven months, a year-on-year increase of about 11.7% [9] - Poly Property Group (00119.HK) reported contract sales of approximately 29.5 billion yuan for the first seven months, a year-on-year decrease of 13.49% [10] - China Overseas Hongyang Group (00081.HK) reported cumulative contract sales of 18.649 billion yuan for the first seven months, a year-on-year decrease of 12.2% [10] - Jindi Commercial Real Estate (00535.HK) reported cumulative contract sales of approximately 6.98 billion yuan for the first seven months, a year-on-year decrease of 37.37% [10] - Agile Group (03383.HK) reported pre-sale amount of approximately 5.69 billion yuan for the first seven months [11] - Hongyang Real Estate (01996.HK) reported cumulative contract sales of 3.208 billion yuan for the first seven months, a year-on-year decrease of 41.6% [12] - Zhengrong Real Estate (06158.HK) reported cumulative contract sales of approximately 2.701 billion yuan for the first seven months, a year-on-year decrease of 30.6% [12] - Jingrui Holdings (01862.HK) reported cumulative contract sales of approximately 571 million yuan for the first seven months, a year-on-year decrease of 52.54% [13] Company News - CITIC Securities (06030.HK) reported that its subsidiary, Huaxia Fund, achieved revenue of 4.258 billion yuan and net profit of 1.123 billion yuan in the first half, with assets under management totaling 285.1237 billion yuan [14] - Xinyi International (00732.HK) reported a cumulative operating revenue of approximately 9.566 billion HKD for the first seven months, a year-on-year decrease of about 5.3% [15] - Heng Rui Pharmaceutical (01276.HK) received orphan drug designation from the US FDA for its injection of Rikan Trastuzumab combined with Adebali for gastric cancer or gastroesophageal junction adenocarcinoma indications [15] - Fuhong Hanlin (02696.HK) completed the first patient dosing in a Phase II clinical study of HLX79 injection combined with Hanlikang® for active renal glomerulonephritis in China [15] - China Biopharmaceutical (01177.HK) announced that its self-developed TQ05105 (JAK/ROCK inhibitor) has been included in the breakthrough therapy designation program for the treatment of chronic graft-versus-host disease [15] Buyback Activities - HSBC Holdings (00005.HK) repurchased approximately 1.65 billion HKD worth of about 1.714 million shares at a price of 95.8 to 96.75 HKD [16] - Hang Seng Bank (00011.HK) spent approximately 22.6347 million HKD to repurchase 200,000 shares at a price of 112.8 to 113.6 HKD [17] - Yum China (09987.HK) repurchased approximately 6.264 million HKD worth of 16,800 shares at a price of 369.8 to 376 HKD [17]

Core Viewpoint - Hongyang Real Estate (01996) reported a significant decline in contract sales for July 2025, with a total amount of RMB 337 million, representing a year-on-year decrease of 50.4% [1] Group 1: Sales Performance - The contract sales amount for the period from January to July 2025 reached RMB 3.208 billion, showing a year-on-year decline of 41.6% [1] - The total sales area for the same period was 239,000 square meters, with an average selling price of RMB 13,428 per square meter [1] Group 2: Monthly Sales Data - In July 2025, the sales area was 25,300 square meters, with an average selling price of RMB 13,340 per square meter [1]

2025年1月–7月，集团实现累计合约销售金额为人民币32.08亿元；累计销售面积为23.888万平方米；平 均销售价格为每平方米人民币13,428元。 格隆汇8月6日丨弘阳地产(01996.HK)发布公告，集团2025年7月份的合约销售金额为人民币3.37亿元； 销售面积为2.528万平方米；平均销售价格为每平方米人民币13,340元。 ...

Core Insights - Hongyang Real Estate reported a contract sales amount of RMB 337 million in July, with a sales area of 25,280 square meters and an average selling price of RMB 13,340 per square meter [1] - From January to July 2025, the company achieved a cumulative contract sales amount of RMB 3.208 billion, with a total sales area of 238,880 square meters and an average selling price of RMB 13,428 per square meter [1] Summary by Category - **Monthly Performance** - July contract sales amounted to RMB 337 million [1] - Sales area for July was 25,280 square meters [1] - Average selling price in July was RMB 13,340 per square meter [1] - **Cumulative Performance** - Cumulative contract sales from January to July 2025 reached RMB 3.208 billion [1] - Total sales area from January to July was 238,880 square meters [1] - Average selling price from January to July was RMB 13,428 per square meter [1]

Core Insights - Hongyang Real Estate (01996) reported a significant decline in contract sales for July 2025, amounting to RMB 337 million, representing a year-on-year decrease of 50.4% [1] - For the period from January to July 2025, the company achieved cumulative contract sales of RMB 3.208 billion, down 41.6% year-on-year [1] Sales Performance - The sales area for July 2025 was 25,300 square meters, with an average selling price of RMB 13,340 per square meter [1] - Cumulative sales area from January to July 2025 reached 239,000 square meters, with an average selling price of RMB 13,428 per square meter [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 2025年1月–7月，本集團實現累計合約銷售金額為人民幣32.08億元；累計銷售面 積 為238,880平方米；平均銷售價格為每平方米人民幣13,428元。 上述已披露初步數據或會變更並可能與本集團按年度或半年度刊發的經審核或 未 經 審 核 綜 合 財 務 報 表 所 呈 現 的 數 字 存 在 差 異。據 此，有 關 資 料 僅 供 參 閱 而 不 作 其 他 目 的。投 資 者 在 買 賣 本 公 司 證 券 時 務 須 小 心 謹 慎，不 可 依 賴 前 述 已 披 露 信息。投資者如有任何疑問應向專業顧問徵求意見。 代表董事會 弘陽地產集團有限公司 曾煥沙 （於開曼群島註冊成立的有限公司） （股份代號：1996） 截 至2025年7月31日未經審核營運數據 弘 陽 地 產 集 團 有 限 公 司（「本公司」）董 ...

Core Viewpoint - The recent statements from the National Development and Reform Commission (NDRC) indicate a strong commitment to stabilizing the real estate market in China, leading to a significant rebound in real estate stocks [1][5]. Group 1: Policy Signals - The NDRC has announced measures allowing cities with population inflows to utilize ultra-long-term special bonds and local government special bonds to enhance the recovery of idle land and stock housing, thereby increasing the supply of affordable housing for migrant populations [1][6]. - The NDRC aims to achieve new urbanization goals by 2035, focusing on high-quality urbanization through major projects that support agricultural migration and urban development [6]. Group 2: Market Reactions - Following the NDRC's announcement, A-shares in the real estate sector experienced a strong rebound, with several stocks hitting the daily limit up, and Hong Kong-listed property stocks saw even more significant gains, with some increasing by 30% [1]. - HSBC's report indicates that the recent rebound in the real estate sector is driven by a rapid reconstruction of market expectations regarding government policies, despite disappointing sales data [3]. Group 3: Investment Insights - HSBC suggests that investors are beginning to position themselves ahead of the upcoming Politburo meeting, viewing it as a critical policy window [3]. - Morgan Stanley highlights that the central government's entry into real estate relief through special bonds will benefit real estate stocks in the short term, although the fundamental impact will depend on the execution of these policies [5].

Core Viewpoint - The real estate sector is experiencing a significant rally in both A-shares and Hong Kong stocks, driven by positive policy signals and market dynamics [1][2][3]. Group 1: Market Performance - On July 10, A-share real estate stocks saw a collective surge, with notable gains including a 10.22% increase for Huaxia Happiness and multiple stocks hitting the daily limit [1]. - In the Hong Kong market, Longguang Group's stock rose over 80% at one point, with other companies like Yuanyang Group and Hongyang Real Estate also showing substantial gains [1]. Group 2: Policy Developments - The Ministry of Housing and Urban-Rural Development emphasized the importance of promoting stable and healthy development in the real estate market, urging local governments to implement tailored policies [2]. - Various cities are actively adjusting policies to stabilize the housing market, including easing purchase restrictions and increasing housing subsidies [2]. Group 3: Company Dynamics - Longguang Group announced that its domestic debt restructuring plan was approved, covering 21 existing exchange bonds with a total principal balance of 21.96 billion [2]. - Over 14 real estate companies, including Sunac and R&F, have received approval for debt restructuring or reorganization [2]. Group 4: Market Outlook - Industry analysts suggest that the real estate market is stabilizing, with a potential turning point expected in the second half of the year [3]. - The central government's focus on stabilizing both the real estate and stock markets is seen as crucial for boosting social expectations and facilitating domestic demand [3].

Company News - China Carbon Neutrality (01372.HK) signed a strategic cooperation agreement with Beijing Zhonghong Lanhai to collaborate in carbon peak, carbon neutrality, and new energy sectors, with a total investment of approximately 10 billion RMB [2] - Conant Optical (02276.HK) expects a net profit increase of no less than 30% year-on-year for the first half of the year, driven by strong sales of high refractive index and functional products, leading to an increase in average selling prices [2] - Shandong Molong (00568.HK) anticipates a net profit of 10 million to 13 million RMB attributable to shareholders for the first half of 2025, representing a year-on-year decline of 92.36% to 94.12% [2] - China General Nuclear Power (01816.HK) reported a total on-grid electricity of approximately 113.36 billion kWh for the first six months, an increase of 6.93% year-on-year [2] - Dongfeng Motor Group (00489.HK) recorded cumulative vehicle sales of 824,000 units in the first half of the year, a year-on-year decrease of approximately 14.7% [2] Real Estate Sales - Agile Group (03383.HK) reported a total contract sales amount of approximately 5.17 billion RMB for the first half of the year, with June sales amounting to approximately 930 million RMB [4] - Hongyang Real Estate (01996.HK) achieved a cumulative contract sales amount of 2.87 billion RMB for the first half of the year [4] - Times China Holdings (01233.HK) reported a cumulative contract sales amount of approximately 2.87 billion RMB for the first half of the year [5] - Ronshine China (03301.HK) recorded a cumulative contract sales amount of approximately 2.1 billion RMB for the first half of the year [6] - Aoyuan Healthy Life (01813.HK) reported June contract sales of 653 million RMB, a year-on-year decrease of 34% [6] Share Buybacks and Acquisitions - Tencent Holdings (00700.HK) repurchased shares worth 501 million HKD, acquiring 1.002 million shares at prices ranging from 494.4 to 502 HKD [6] - AIA Group (01299.HK) repurchased shares worth 377 million HKD, acquiring 5.5 million shares at prices ranging from 68.05 to 69.15 HKD [6] - HSBC Holdings (00005.HK) repurchased shares for approximately 31.59 million HKD, acquiring 333,600 shares at prices ranging from 94.5 to 94.85 HKD [6] - Bosideng (03998.HK) canceled 5 million shares that had been repurchased [6] Other Financial Activities - Fudan Zhangjiang (01349.HK) subscribed to a structured deposit product from China Merchants Bank, involving an investment of 90 million RMB [7] - Sensong International (02155.HK) received a capital increase of 330 million RMB for its subsidiary Shanghai Sensong Pharmaceutical, along with a put option [7]

Core Insights - Hongyang Real Estate Group announced a contract sales amount of RMB 400 million for June 2025, with a sales area of 25,796 square meters and an average selling price of RMB 15,518 per square meter [1] - For the first half of 2025 (January to June), the group achieved a cumulative contract sales amount of RMB 2.87 billion, with a cumulative sales area of 213,600 square meters and an average selling price of RMB 13,438 per square meter [1] Summary by Category - **Sales Performance** - Contract sales for June 2025 reached RMB 400 million [1] - Cumulative contract sales for January to June 2025 totaled RMB 2.87 billion [1] - **Sales Area** - Sales area for June 2025 was 25,796 square meters [1] - Cumulative sales area for the first half of 2025 was 213,600 square meters [1] - **Average Selling Price** - Average selling price in June 2025 was RMB 15,518 per square meter [1] - Average selling price for the first half of 2025 was RMB 13,438 per square meter [1]