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之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不會就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之任何損失承擔任何責任。 XIWANGPROPERTYHOLDINGSCOMPANYLIMITED 西王置業控股有限公司* （於百慕達註冊成立之有限公司） （股份代號：2088） （1）季度更新複牌情況；及 （2）繼續暫停買賣 本公告乃由西王置業控股有限公司（「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(2)條及證券及期 貨條例（香港法例第 571 章）第 XIVA 部項下的內幕消息條文（定義見上市規則）而作 出。 茲提述：(i)本公司日期為 2025 年 3 月 28 日的公告，內容有關（其中包括）訴訟程式 之內幕消息及延遲刊發 2024 年全年業績（「3 月 28 日公告」）；(ii)本公司日期為 2025 年 3 月 31 日的公告，內容有關暫停股份買賣以待刊發內幕消息；(iii)本公司日 期為 2025 年 4 月 30 日的公告，內容有關（其中包括）訴訟 ...

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9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 西王置業控股有限公司 (於百慕達註冊成立的有限公司) 呈交日期: 2025年10月3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) | 02088 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 4,000,000,000 | HKD | | 0.1 HKD | | 400,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.1 HKD | | 400,000,000 | | 2. 股份 ...

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: 西王置業控股有限公司 (於百慕達註冊成立的有限公司) 呈交日期: 2025年9月4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) | 02088 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 4,000,000,000 | HKD | | 0.1 HKD | | 400,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.1 HKD | | 400,000,000 | | 2. 股份分 ...

西王置业(02088)公布，于 2025 年 7 月 31 日，公司收到来自联交所的信函，列出了以下恢复公司股份 交易的额外复牌指引：重新遵守上市规则第 3.10 条、第 3.21 条、第 3.25 条及第 3.27A 条规则。公司股 份继续停牌。 ...

Core Viewpoint - Xiwang Property (02088.HK) announced that it received a letter from the Stock Exchange on July 31, 2025, outlining additional resumption guidance for trading of its shares, which includes compliance with specific listing rules [1] Summary by Relevant Sections - **Company Announcement** - Xiwang Property has been instructed to adhere to the additional resumption guidance set forth by the Stock Exchange [1] - **Regulatory Compliance** - The company must re-comply with Listing Rules 3.10, 3.21, 3.25, and 3.27A as part of the resumption process [1]

西王置业(02088)公布，于2025年7月31日，公司收到来自联交所的信函，列出了以下恢复公司股份交易 的额外复牌指引：重新遵守上市规则第3.10条、第3.21条、第3.25条及第3.27A条规则。公司股份继续停 牌。 ...

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: 西王置業控股有限公司 (於百慕達註冊成立的有限公司) 呈交日期: 2025年8月4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) | 02088 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 4,000,000,000 | HKD | | 0.1 HKD | | 400,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.1 HKD | | 400,000,000 | | 2. 股份分 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）對 本 公 告（「本 公 告」）之 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 不 發 表 任 何 聲 明，並 且 明 確 表 示， 概不對因本公告之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。 XIWANG PROPERTY HOLDINGS COMPANY LIMITED 西王置業控股有限公司* （於百慕達註冊成立之有限公司） （股份代號：2088） 截 至2024年6月30日止六個月之 中期業績公告 西 王 置 業 控 股 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 公 佈 本 公 司 及 其 附 屬 公 司（統 稱「本集團」）截 至2024年6月30日 止 六 個 月（「期 內」）之 未 經 審 核 簡 明 綜合業績，連同比較數字如下。該等綜合業績尚未經審核，惟已由本公司審核委 員 會（「審核委員會」）審 閱。 – 1 – 簡明綜合損益表 截 至6月30日止六個月 2024年 2023年 人民幣千元 人民幣千元 附 註 未經 ...

Real Estate Market Trends - In 2023, the overall real estate market in China continued to face pressure, with key indicators such as gross floor area and commercial housing sales showing a downward trend[13]. - The sales pattern in 2023 was characterized by a "high in the early stage, low in the middle stage, and stable in the later stage" trend[14]. - Looking forward to 2024, the real estate market is expected to continue facing adjustment pressure, but may gradually stabilize with the implementation of favorable policies[15]. - The real estate market in Zouping City has shown a significant downward trend, prompting the company to adopt a conservative approach to potential projects[23]. - Property sales in China dropped to under RMB12 trillion in 2023 from RMB15 trillion in 2021, with a 9.6% decline in real estate development investment compared to 2022[39]. - The company anticipates continued pressure on the housing market in Zouping City due to slowing urbanization and reduced demand for new housing[40]. - In 2023, China's real estate sales dropped to approximately RMB 12 trillion, down from RMB 15 trillion in 2021, reflecting a decline of about 20%[42]. - Overall real estate investment in China decreased by 9.6% in 2023 compared to 2022[42]. Company Performance and Financials - The Group's total revenue for the Year amounted to RMB20,790,000, a decrease of approximately 57% compared to RMB48,455,000 in the Previous Year[80]. - The total cost of sales during the Year was RMB19,348,000, down from RMB47,521,000 in the Previous Year, indicating a significant reduction in operational costs[82]. - Other income increased to RMB 3,268,000 from RMB 3,196,000 in the previous year, primarily from interest income[86]. - Administrative expenses decreased to RMB 6,184,000 from RMB 10,384,000, a reduction of RMB 4,200,000[89]. - Income tax credit rose significantly to RMB 17,699,000, an increase of RMB 16,755,000 from RMB 944,000 in the previous year[95]. - The Group recognized an impairment loss of goodwill of approximately RMB 71.0 million and a write-off of prepayment of RMB 79.4 million during the year[96]. - As of December 31, 2023, the Group's cash and cash equivalents amounted to RMB 150,882,000, slightly up from RMB 150,500,000 in the previous year[97]. - The gearing ratio increased to 4.8% from 3.4% in the previous year, with no bank or other borrowings reported[98]. Project Development and Strategy - The Group's property development business has been the principal focus since 2012, with a total unsold portion of approximately 1,317 sq.m. as of December 31, 2023, primarily consisting of storage rooms and car parking spaces[22]. - The Group aims to enhance profitability and competitiveness by focusing on environmental friendliness, health, livability, and safety in new project developments[16]. - The Group's strategy includes targeting basic housing needs and improving housing standards in future developments[16]. - The Meijun Project Phase Three will be developed in two stages, with Stage 1 covering approximately 95,820 sq.m. and Stage 2 covering approximately 77,334 sq.m.[28]. - The local government has commenced demolition works for the Meijun Project Phase Three, expected to take about one year to complete[31]. - The development of Meijun Land B is contingent upon obtaining the Land Use Certificate, anticipated in 2025, after which pre-sale activities will be assessed[32]. - The Qinghe Project, covering approximately 131,258 sq.m., has faced slow progress and high working capital requirements, leading to a cautious approach by the company[35]. - The Group intends to prioritize resources on the third phase of the Meijun project while regularly revising the development plan for the Qinghe project[62]. Impairment and Financial Challenges - Impairment losses of approximately RMB71.0 million and RMB79.4 million were recorded for goodwill and prepayments, respectively, due to the weakening real estate market in China[38]. - The carrying amount of the Qinghe Project before impairment was approximately RMB 150.4 million as of December 31, 2023, down from RMB 152.4 million in 2022[51]. - The recoverable amount of the Qinghe Project was approximately RMB 55.0 million as of December 31, 2023, significantly lower than RMB 150.4 million in 2022[52]. - The expected net loss margin for the Qinghe Project is estimated to be approximately 11.9% during the forecast period from 2024 to 2033[54]. - The management anticipates that the selling prices of properties in the Qinghe Project will be lower than in previous years due to weak demand[44]. - The expected annual net profit margins during the forecast period in 2023 are lower than previous projections due to increased development costs and reduced selling prices[60]. Corporate Governance and Leadership - The Company has adopted the Corporate Governance Code as its own code of corporate governance, ensuring compliance with all applicable provisions throughout the year[160]. - The Board currently comprises two executive Directors, two non-executive Directors, and three independent non-executive Directors, with recent changes in the Board composition[174]. - The Group emphasizes a corporate culture based on integrity, fairness, and honesty to guide employee conduct and align with business strategies[167]. - The Group is committed to providing continuous training for employees to support their career development in the real estate industry[169]. - The company is focused on maintaining a diverse and experienced board to guide its strategic direction[145][148][149]. - The Board has confirmed Mr. WANG An's independence based on annual confirmations and assessments[195]. - The Board conducted a self-evaluation to assess its overall performance and effectiveness during the year[200]. Market Outlook and Policy Environment - Favorable policies to support funding for real estate companies have been issued, boosting market confidence, although full recovery of demand is expected to take time[15]. - The real estate market in the PRC is expected to see continued easing of policies in 2024, with second-tier cities likely to fully lift restrictive policies[122][126]. - The Central Economic Work Conference in 2023 emphasized the construction of three major projects, which are expected to alleviate downward risks in the real estate market[128][130]. - The management noted that many property developers faced difficulties in securing external financing, leading to project delays and challenges in delivering properties[129][130]. - The introduction of policies such as "recognising housing rather than loans" is seen as effective in boosting the real estate market[121][125].

Financial Performance - For the year ended December 31, 2023, the total revenue was RMB 20,790,000, a decrease of 57.0% compared to RMB 48,455,000 in 2022[4] - The gross profit for the year was RMB 1,442,000, representing a gross margin of 6.9%, up from RMB 934,000 in the previous year[4] - The operating loss for the year was RMB 151,986,000, significantly higher than the operating loss of RMB 8,233,000 in 2022[4] - The net loss attributable to the owners of the company was RMB 134,442,000, compared to a net loss of RMB 7,332,000 in the prior year, indicating a substantial increase in losses[4] - The group reported total revenue of RMB 20,790,000 in 2023, a decrease of 57.0% from RMB 48,455,000 in 2022[18] - The group's total pre-tax loss for the year was RMB 152,141,000, compared to a loss of RMB 8,276,000 in the previous year, indicating a substantial increase in losses[18] - The company reported a pre-tax loss of RMB 134,442,000 in 2023, compared to a loss of RMB 7,332,000 in 2022, indicating a substantial increase in losses[34] Asset and Liability Management - The total assets decreased to RMB 509,313,000 from RMB 662,001,000 in 2022, reflecting a decline of 23.0%[8] - The total liabilities decreased to RMB 75,657,000 from RMB 94,225,000, a reduction of 19.7%[8] - The company's cash and cash equivalents remained stable at RMB 150,882,000, slightly up from RMB 150,500,000 in the previous year[8] - Trade receivables decreased to RMB 272,000 in 2023 from RMB 8,837,000 in 2022, reflecting a significant reduction in outstanding amounts[38] - Trade payables decreased from RMB 18,502 thousand in 2022 to RMB 9,886 thousand in 2023, a reduction of approximately 46.4%[13] - The aging analysis of trade payables shows that over 90 days payables decreased from RMB 18,121 thousand in 2022 to RMB 9,736 thousand in 2023, a decline of about 46.3%[43] Impairment and Write-offs - The company recognized an impairment loss on goodwill of RMB 71,035,000, a significant increase from RMB 1,950,000 in 2022[4] - The company recognized impairment losses of approximately RMB 71.0 million and RMB 79.4 million for goodwill and prepayments, respectively, attributed to the Qinghe property development project[71] - The company wrote off approximately RMB 79,401,000 in prepayments due to uncertainties regarding the future prospects of the Qinghe project[40] Revenue Segmentation - The property development segment incurred a loss of RMB 150,502,000 in 2023, compared to a loss of RMB 1,890,000 in 2022[18] - The property management services segment generated revenue of RMB 2,729,000 in 2023, up from RMB 903,000 in 2022, reflecting a growth of 201.0%[18] - The building materials trading segment's revenue decreased significantly to RMB 17,971,000 in 2023 from RMB 47,130,000 in 2022, a decline of 61.9%[18] - Property sales revenue dropped significantly to RMB 90,000 in 2023 from RMB 422,000 in 2022, representing a decline of 78.7%[25] - Revenue from building materials trading decreased to RMB 17,971,000 in 2023, down 61.9% from RMB 47,130,000 in 2022[25] Future Outlook and Market Conditions - The company is cautious about the potential development of the Qinghe project due to high capital requirements and a slow market[51] - The management believes that the housing market will face additional structural pressures in the coming years, particularly due to slowing growth in household income[53] - The company anticipates that the real estate market in China will not see significant improvement in the coming years, impacting cash inflows from property pre-sales[56] - The real estate market is expected to see continued policy easing in 2024, with second-tier cities likely to fully lift restrictions[83] - The "housing is for living, not for speculation" policy remains a key regulatory stance, emphasizing long-term stability in the real estate sector[85] Corporate Governance and Compliance - The board has complied with the corporate governance code, ensuring at least three independent non-executive directors, although there was a temporary lapse in compliance from May 8, 2023, to July 5, 2023[90][93] - The audit committee has reviewed the accounting standards and practices adopted by the group and discussed internal controls and financial reporting matters with management[97] - The company plans to issue the 2023 annual report to shareholders at an appropriate time, which will also be available on the stock exchange and the company's website[100] Changes in Accounting Policies - The group has not applied the newly issued but not yet effective revised Hong Kong Financial Reporting Standards, which are expected to have no significant impact on the consolidated financial statements in the foreseeable future[16] - The group has implemented changes in accounting policies related to long service payments due to the government's announcement regarding the cessation of the offsetting mechanism, which is expected to take effect on May 1, 2025[13] - The group anticipates that the application of all new and revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[16]