Financial Performance - Total revenue for the year ending December 31, 2025, decreased by approximately 7.1% to about RMB 1,611.6 million from RMB 1,735.4 million for the year ending December 31, 2024[3]. - Gross profit for the year ending December 31, 2025, decreased by approximately RMB 68.8 million to about RMB 375.7 million from RMB 444.5 million for the year ending December 31, 2024[3]. - Profit attributable to owners of the company for the year ending December 31, 2025, decreased by approximately RMB 1.4 million to about RMB 13.2 million from RMB 14.6 million for the year ending December 31, 2024[3]. - Operating profit for the year ending December 31, 2025, was RMB 78.1 million, down from RMB 138.7 million for the year ending December 31, 2024[5]. - The company reported a net profit and total comprehensive income of RMB 23.9 million for the year ending December 31, 2025, compared to RMB 25.6 million for the year ending December 31, 2024[5]. - Basic and diluted earnings per share for the year ending December 31, 2025, remained at RMB 0.09, unchanged from the previous year[5]. - The company's net profit is expected to decrease by approximately 9.6% from RMB 14.6 million to about RMB 13.2 million for the fiscal year ending December 31, 2025[51]. - The overall gross profit margin fell from approximately 25.6% in 2024 to about 23.3% in 2025, a decline of approximately 2.3 percentage points[91]. Revenue Breakdown - Property management services generated revenue of RMB 1,374,876,000 in 2025, slightly down from RMB 1,389,375,000 in 2024[26]. - Revenue from value-added services for property owners was RMB 150,760,000 in 2025, down from RMB 162,139,000 in 2024[26]. - The total revenue from value-added services for homeowners in 2025 was approximately RMB 150.8 million, a year-on-year decrease of about 7.0%[82]. - Total revenue from non-homeowner value-added services in 2025 was approximately RMB 85.9 million, a year-on-year decrease of about 53.3%[85]. - Overall revenue decreased from approximately RMB 1,735.4 million in 2024 to approximately RMB 1,611.6 million in 2025, a decline of about 7.1%[87]. - Property management services revenue decreased from RMB 1,389.4 million in 2024 to RMB 1,374.9 million in 2025, a decline of approximately 1.0%[90]. - Owner value-added services revenue fell from RMB 162.1 million in 2024 to RMB 150.8 million in 2025, a decrease of about 7.0%[90]. - Non-owner value-added services revenue dropped significantly from RMB 183.9 million in 2024 to RMB 85.9 million in 2025, a decline of approximately 53.3%[90]. Assets and Liabilities - Total assets as of December 31, 2025, were RMB 1,010.98 million, compared to RMB 989.37 million as of December 31, 2024[6]. - The company's net asset value as of December 31, 2025, was RMB 963.17 million, an increase from RMB 955.14 million as of December 31, 2024[7]. - The total value of right-of-use assets decreased to RMB 159,603 thousand in 2025 from RMB 164,031 thousand in 2024, reflecting a reduction in lease assets[34]. - Trade receivables increased to RMB 1,563,526 thousand in 2025, up 8.3% from RMB 1,443,858 thousand in 2024[36]. - The allowance for trade receivables increased to RMB 1,085,960 thousand in 2025 from RMB 988,288 thousand in 2024, indicating a rise in expected credit losses[38]. - Trade payables rose to RMB 228,642 thousand in 2025, an increase of 10.7% from RMB 206,574 thousand in 2024[40]. - Accounts receivable amounted to approximately RMB 477.6 million as of December 31, 2025, an increase of RMB 22.0 million from RMB 455.6 million as of December 31, 2024, primarily due to slower collection from real estate developers[106]. - Other payables decreased to approximately RMB 325.0 million as of December 31, 2025, down by RMB 8.9 million from RMB 333.9 million as of December 31, 2024[109]. Employee and Operational Metrics - Employee costs, including director remuneration, totaled RMB 713,508,000 in 2025, down from RMB 791,162,000 in 2024[29]. - The group employed 11,107 employees as of December 31, 2025, a decrease from 12,013 employees as of December 31, 2024[116]. - The company managed approximately 99.07 million square meters across 718 projects, covering 78 cities in 20 provinces[48]. - The total managed building area decreased from 102.7 million square meters in 2024 to 99.1 million square meters in 2025, while the number of managed properties decreased from 728 to 718[75]. Strategic Initiatives and Future Outlook - The group aims to enhance service quality and integrate property management with community governance, emphasizing the dual requirement of good service and effective management[47]. - The company is focusing on a strategy of "driving development through innovation," aiming to redefine property service standards beyond basic maintenance to a comprehensive service ecosystem[52]. - The company is advancing its digital transformation by integrating AI and IoT technologies into its "K Service" platform, significantly improving service efficiency and management precision[54]. - The company aims to achieve energy savings and emissions reduction by 2025 through various technologies, including elevator energy recovery and AI-controlled central air conditioning[61]. - The company is transforming into a community quality life service provider, focusing on diverse and quality services to enhance user engagement and service penetration[62]. - By 2025, the company plans to digitize resource management and enhance supply chain integration, launching a model combining community pre-stocking and high-frequency service trials[63]. - The company aims to strengthen internal management and talent development while controlling risks to ensure stable growth and support the "14th Five-Year Plan" for high-quality development[68]. Regulatory and Governance - The group has adopted the revised Hong Kong Financial Reporting Standards (HKFRS) effective from January 1, 2025, with no significant impact on the consolidated financial position and performance for the current and prior years[10]. - The group has not early adopted the newly issued HKFRS 9 and HKFRS 7 (revised) which pertain to financial instruments classification and measurement[11]. - The new HKFRS 18 introduces new requirements for the presentation and disclosure of financial statements, replacing HKAS 1, and aims to improve the structure and presentation of the income statement[12]. - The group anticipates having sufficient resources to continue operating in the foreseeable future, thus continuing to adopt the going concern basis in preparing the consolidated financial statements[15]. - The board does not recommend the payment of a final dividend for the year ending 2025[122]. - The annual general meeting is scheduled for June 18, 2026, with a notice to be published in accordance with listing rules[125].

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 就因本公告全部或任何部份內容而產生或因依賴該等內容而引致之任 何 損 失 承 擔 任 何 責 任。 ® Kaisa Prosperity Holdings Limited （股 份 代 號：2168） 董事會會議通告 佳 兆 業 美 好 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱 為「本集團」） 董 事（「董 事」）會（「董事會」）謹 此 宣 佈，董 事 會 會 議 謹 訂 於 二 零 二 六 年 三 月 二 十 六 日（星 期 四）舉 行，以（其 中 包 括）考 慮 及 通 過 本 集 團 截 至 二 零 二 五 年 十 二 月 三 十 一 日 止 年 度 的 年 度 業 績 及 考 慮 建 議 派 付 末 期 股 息（如 有）。 承董事會命 佳兆業美好集團有限公司 主 席 郭英成 香 港，二 零 二 六 年 三 月 十 三 日 於 本 公 告 日 期，董 事 會 包 括 執 行 董 事 郭 英 成 先 ...

致：香港交易及結算所有限公司 公司名稱: 佳兆業美好集團有限公司 呈交日期: 2026年3月2日 I. 法定/註冊股本變動 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: 2026年2月28日 狀態: 新提交 | 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) | 02168 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.01 | HKD | | 5,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 500,000,000 | HKD | | 0.01 | HKD | | 5,000,000 | 本月底法定/註冊股本總額： H ...

Core Viewpoint - Liu Qiangdong has launched a yacht brand with an investment of 5 billion RMB, aiming to make yacht prices as low as 100,000 RMB, similar to cars, to increase accessibility for the general public [1][4]. Group 1: Market Potential - The yacht market in China is significantly underdeveloped, with only 12,000 yachts compared to over 1.3 million in the U.S., indicating a vast market opportunity [1]. - Liu believes that the yacht industry represents the last high-end category in Chinese manufacturing that remains untapped [1]. Group 2: Strategic Location - The yacht project is based in Zhuhai, a city with a strong manufacturing base for yachts and a complete industrial chain, including the largest yacht manufacturing base in China [2][3]. - Zhuhai has seen significant growth in marine tourism, with GDP growth projected at 12% and industrial investment increasing by 59 times by 2025, enhancing the consumption side of the yacht industry [2]. Group 3: Financial Aspects - Liu's investment of 5 billion RMB is a personal venture, separate from his other business interests, indicating a significant personal commitment to this project [7]. - The company has already received orders for five large yachts, each priced at approximately 60 million euros, totaling nearly 2.4 billion RMB [7]. Group 4: Challenges and Considerations - Despite the ambition to lower yacht prices, the ongoing costs of ownership, such as docking and maintenance fees, may deter potential buyers, as these costs can exceed the initial purchase price [5][6]. - The success of this venture remains uncertain, as previous cross-industry expansions by Liu have had mixed results, with only the food delivery service making a significant impact [6][7].

| 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) | 02168 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.01 | HKD | | 5,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 500,000,000 | HKD | | 0.01 | HKD | | 5,000,000 | 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: 2026年1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: 佳兆業美好集團有限公司 呈交日期: 2026年2月2日 I. 法定/註冊股本變動 本月底法定/註冊股本總額： H ...

Core Viewpoint - Kaisa Group Holdings Limited (佳兆业美好) announced a change in its Hong Kong auditor's name effective January 9, 2026, reflecting a rebranding of its auditing firm [1] Group 1 - The English name of the company's Hong Kong auditor has changed from "SFAI(HK)CPA Limited" to "ZSZH(HK)Fuson CPA Limited" [1] - The Chinese name of the company's Hong Kong auditor has changed from "永拓富信会计师事务所有限公司" to "中审众环(香港)富信会计师事务所有限公司" [1]

Core Viewpoint - Kaisa Group Holdings Limited announced a change in its Hong Kong auditor's name effective January 9, 2026, reflecting a rebranding of its auditing firm [1] Group 1 - The English name of the company's Hong Kong auditor has changed from "SFAI (HK) CPA Limited" to "ZSZH (HK) Fuson CPA Limited" [1] - The Chinese name of the company's Hong Kong auditor has changed from "永拓富信会计师事务所有限公司" to "中审众环(香港)富信会计师事务所有限公司" [1]

Group 1 - The company Kaisa Group Holdings Limited (佳兆业美好) announced a change in its Hong Kong auditor's name effective from January 9, 2026 [1] - The English name of the auditor has changed from "SFAI(HK) CPA Limited" to "ZSZH(HK) Fuson CPA Limited" [1] - The Chinese name of the auditor has changed from "永拓富信会计师事务所有限公司" to "中审众环(香港)富信会计师事务所有限公司" [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 就因本公告全部或任何部份內容而產生或因依賴該等內容而引致之任 何 損 失 承 擔 任 何 責 任。 ® Kaisa Prosperity Holdings Limited 佳兆業美好集團有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） 承董事會命 佳兆業美好集團有限公司 主 席 郭英成 香 港，2026年1月14日 於 本 公 告 日 期，本 公 司 董 事 會 包 括 執 行 董 事 郭 英 成 先 生、劉 立 好 先 生、 廖 傳 強 先 生、郭 曉 群 先 生、趙 建 華 先 生 及 牟 朝 輝 女 士；及 獨 立 非 執 行 董 事 劉 洪 柏 先 生、馬 秀 敏 女 士 及 陳 斌 先 生。 核數師更改名稱 佳 兆 業 美 好 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，自2026年1月9日 起，本 公 司 香 港 ...

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12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: 佳兆業美好集團有限公司 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) | 02168 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.01 | HKD | | 5,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 500,000,000 | HKD | | 0.01 | HKD | | 5,000,000 | 本月底法定/註冊股本總額： HKD 5,000,000 FF ...