万科企业股份有限公司 关于为银行贷款事项提供担保的公告 证券代码：000002、299903 证券简称：万科 A、万科 H 代 公告编号：2025-076 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性 陈述或者重大遗漏。 为满足经营需要，万科企业股份有限公司之控股子公司（以下简称"公司" 或"万科"）向银行申请贷款，公司之控股子公司通过质押、信用保证为相关贷 款提供担保。 公司 2023 年度股东大会审议通过了《关于提请股东大会授权公司及控股子 公司对外提供担保的议案》，同意在授权有效期内提供的新增担保总额须不超过 人民币 1,500 亿元，有效期为自 2023 年度股东大会决议之日起至 2024 年度股东 大会决议之日止。董事会在取得股东大会授权之同时，已进一步转授权公司执行 副总裁对于单笔对外担保金额低于人民币 125 亿元进行决策。 本次担保事项在上述担保额度范围内, 公司执行副总裁已在上述授权范围 内决策同意本次担保事项，具体情况如下： 一、担保情况 2、担保协议的主要内容 1、担保事项概述 公司之控股子公司印力商用置业有限公司（以下简称"印力商置"）近期向 兴业银行股份有 ...

证券代码：000002、299903 证券简称：万科 A、万科 H 代 公告编号：<万>2025-075 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性 陈述或者重大遗漏。 万科企业股份有限公司（以下简称"公司"）第二十届董事会第十六次会议 于 2025 年 4 月 29 日审议通过《关于出售 A 股库存股的议案》，自本计划公告日 起 15 个交易日（即 2025 年 5 月 27 日）后至 2025 年 7 月 2 日（即披露回购结果 暨股份变动公告后满三年之日），公司将通过集中竞价交易方式出售 A 股库存股 72,955,992 股，占目前公司总股本（含库存股）的 0.61%，出售价格根据出售时 的二级市场价格确定。具体内容详见公司于 2025 年 4 月 30 日发布的《关于出售 A 股库存股计划的公告》（公告编号：〈万〉2025-057）。 根据《深圳证券交易所上市公司自律监管指引第 9 号——回购股份（2025 年 修订）》的规定，现将公司 A 股库存股出售进展情况公告如下： 截至 2025 年 5 月 31 日，公司尚未出售 A 股库存股。 万科企业股份有限公司 关于 A ...

万科企业股份有限公司 关于按照《香港上市规则》公布 2025 年 5 月证券变动月报表的公告 证券代码：000002、299903 证券简称：万科 A、万科 H 代 公告编号：〈万〉2025-074 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性 陈述或者重大遗漏。 根据《香港联合交易所有限公司证券上市规则》（简称"《香港上市规则》"） 13.25B 条关于披露股份发行人的证券变动月报表的要求，及《深圳证券交易所股 票上市规则》11.2.1 条关于境内外同步披露的要求，特披露万科企业股份有限公 司在香港联合交易所有限公司披露易网站（www.hkexnews.hk）刊登的《万科企 业股份有限公司截至 2025 年 5 月 31 日的月报表》，供参阅。 特此公告。 万科企业股份有限公司 董事会 二〇二五年六月四日 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5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: 萬科企業股份有限公司 呈交日期: 2025年6月4日 I. 法定/註冊股本變動 | 1. 股份分類 | ...

Core Viewpoint - The recent financial struggles of Huishang Bank are highlighted by its decision to sell over 130 properties at a total base price of approximately 824 million yuan, reflecting the challenges faced by city commercial banks during the current interest rate cuts and deleveraging cycle [1][19]. Group 1: Asset Transfer Details - Huishang Bank's Beijing branch is transferring 130 properties, with a total base price of about 824 million yuan [1]. - The properties include office, commercial, apartment spaces, and parking spots, all approved for transfer by the bank's executive meeting [2]. - The most significant asset in this transfer is 132 properties located on North Fourth Ring East Road, which includes the Huishang Bank headquarters, with approximately 16,000 square meters of office space already vacated [3]. Group 2: Financial Performance - As of the end of 2024, Huishang Bank reported total assets of approximately 2 trillion yuan, ranking seventh among city commercial banks [4]. - The bank's revenue for 2024 was 37.128 billion yuan, with a year-on-year increase of 2.10%, while net profit rose by 6.18% to 15.917 billion yuan [17]. - However, key profitability metrics showed a decline, with return on assets (ROA) at 0.83%, down 0.06 percentage points, and return on equity (ROE) at 11.86%, down 0.66 percentage points [17]. Group 3: Shareholder Dynamics - Vanke currently holds approximately 7% of Huishang Bank's shares, making it the fifth-largest shareholder, with a total of about 970 million shares valued at over 3.1 billion Hong Kong dollars [7]. - The bank's largest shareholder is the Deposit Insurance Fund Management Co., holding 11.22% of the shares, while the second-largest shareholder is Zhongjing New China Asset Management Co., with a 10.59% stake [12]. - There have been ongoing conflicts between Huishang Bank and its shareholders, particularly regarding dividend policies and management issues, leading to a significant decrease in cash dividend ratios since 2016 [13][15]. Group 4: Regulatory Challenges - In 2024, Huishang Bank faced administrative penalties exceeding 20 million yuan from financial regulators, primarily related to violations in credit operations [17]. - The bank's non-performing loans increased, with a notable rise in personal loan defaults, leading to a non-performing loan ratio increase from 1.13% to 1.51% [17][18]. - The bank's internal control issues have raised concerns in the market, particularly regarding its ability to manage and recover from non-performing assets [17].

Core Viewpoint - The sales performance of the top 100 real estate companies in China has declined significantly in the first five months of the year, with a total sales amount of 1,443.64 billion yuan, representing a year-on-year decrease of 10.8% [1][3]. Group 1: Sales Performance - The total sales of the top 100 real estate companies reached 1,443.64 billion yuan from January to May, showing a year-on-year decline of 10.8% [1][3]. - In May alone, the sales amount for the top 100 companies dropped by 17.3% year-on-year, which is an increase in the decline rate compared to April [3]. - Poly Developments leads the sales with 116.1 billion yuan, becoming the first company to exceed 100 billion yuan in sales this year [2][3]. Group 2: Company Rankings - The top three companies are Poly Developments, Greentown China, and China Overseas Property, with sales of 116.1 billion yuan, 96.44 billion yuan, and 90.4 billion yuan respectively [2][3]. - China Overseas Property has overtaken China Resources Land to claim the third position, narrowing the gap with Greentown China [3][5]. - Among the top 10 companies, four are state-owned enterprises, including Poly Developments, China Overseas Property, China Resources Land, and China Merchants Shekou [3][6]. Group 3: Competitive Landscape - The competition between China Resources Land and China Overseas Property is intensifying, with China Overseas Property regaining the lead in May [5]. - China Merchants Shekou's sales are significantly lower than the top four, indicating a challenging path to catch up [6]. - Only one private company, Binjiang Group, has entered the top 10, ranking ninth with sales of 43.36 billion yuan [12]. Group 4: Market Dynamics - The rankings of companies are subject to change, with some companies rising while others are falling, indicating a dynamic market environment [13]. - Binjiang Group has shown aggressive expansion intentions, with a land acquisition amount of 27 billion yuan, ranking fourth in this regard [12]. - The overall market is experiencing a transformation, with new players emerging and established companies facing challenges [13].

Core Viewpoint - The sales performance of major real estate companies in China for the first five months of 2025 shows a significant decline compared to the same period in 2024, indicating a challenging market environment for the industry [1][4]. Group 1: Sales Performance - Only Poly Developments achieved over 100 billion yuan in sales, totaling 116.1 billion yuan, a decrease of approximately 15.2 billion yuan year-on-year [1]. - China Overseas ranked second with sales of 90.4 billion yuan, down 11.3 billion yuan from the previous year [1]. - China Resources Land, despite moving up one rank, reported sales of 86.9 billion yuan, a decline of 5.8 billion yuan year-on-year [1]. Group 2: Market Trends - The threshold for entering the top 10 sales list increased to 43.3 billion yuan, with Huafa Group becoming the new entry, reflecting a year-on-year increase of approximately 7.4 billion yuan [3]. - Companies like Yuexiu and Jianfa saw sales growth, while major players like China Vanke experienced a significant drop of over 44 billion yuan [3][4]. - The overall sales of the top 20 companies showed a mixed trend, with some companies like China State Construction and Greenland reporting growth, while others like Jinmao and Longfor faced declines [6][8]. Group 3: Market Dynamics - The real estate market is characterized by insufficient incremental demand, leading to intense competition among the top 100 companies [9]. - Recent price reductions by leading companies, such as China Overseas, indicate a response to market pressures despite the overarching goal of stabilizing the market [10]. - Policy changes, including interest rate cuts and reduced down payment ratios, aim to support the market, but the overall recovery remains sluggish [11].

Core Insights - The article highlights the top and bottom AH share premium rates, indicating significant disparities among various companies in the market [1][2][3] Group 1: Top AH Share Premium Rates - Northeast Electric (00042) leads with a premium rate of 1020.33%, followed by Andeli Juice (02218) at 341.81% and Chenming Paper (01812) at 263.08% [1][2] - The top three companies with the highest deviation values are Andeli Juice (44.30%), Northeast Electric (39.74%), and Qingdao Bank (11.69%) [1][2] Group 2: Bottom AH Share Premium Rates - The companies with the lowest AH share premium rates include Ningde Times (03750) at -1.48%, China Merchants Bank (03968) at 6.19%, and BYD Company (01211) at 6.45% [1][2] - The bottom three companies with the lowest deviation values are Zhejiang Shibao (-77.86%), China Shipbuilding Defense (-38.64%), and Junshi Biosciences (-32.19%) [1][3] Group 3: Additional Insights on Premium and Deviation - The top ten AH stocks by premium rate also include Sinopec Oilfield Service (01033) at 261.90% and Fudan Zhangjiang (01349) at 239.41% [2] - The bottom ten AH stocks by premium rate feature WuXi AppTec (02359) at 9.53% and Chifeng Gold (06693) at 12.81% [2][3]

Group 1 - Hong Kong real estate stocks are experiencing a decline, with R&F Properties (02777.HK) dropping over 5% and Vanke Enterprises (02202.HK) falling more than 4% [1]

Group 1 - New World Development shares fell over 7% following the announcement of a delay in the payment of perpetual bond interest [1] - R&F Properties experienced a decline of more than 5% in its stock price [1] - Vanke Enterprises saw a drop of over 4% in its share value [1]

Core Viewpoint - The overall real estate market in China has shown signs of stabilization in May 2025, with a significant drop in new housing supply, while transaction volumes remained stable compared to April, and year-on-year sales showed positive growth [1][12]. Group 1: Market Performance - In May 2025, the top 100 real estate companies achieved a sales turnover of 294.58 billion yuan, representing a month-on-month increase of 3.5% and a year-on-year decrease of 8.5%, with the decline slightly narrowing compared to April [1]. - Cumulatively, from January to May 2025, these companies recorded a total sales turnover of 1,312.75 billion yuan, reflecting a year-on-year decline of 7.1% [1]. - More than half of the top 100 companies saw month-on-month performance improvements in May, with 22 companies experiencing increases greater than 30% [1]. Group 2: Sales Thresholds - The sales thresholds for the top 100 real estate companies in May 2025 were as follows: 34.98 billion yuan for the top 10, 15.15 billion yuan for the top 20, 9.53 billion yuan for the top 30, 6.14 billion yuan for the top 50, and 2.25 billion yuan for the top 100 [6]. - The sales threshold for the top 30 companies saw the highest year-on-year growth at 5.3%, followed by the top 50 at 3%, while the top 100 saw a minimal increase of 0.2% [6]. Group 3: Tiered Sales Performance - From January to May 2025, only the tier of companies ranked 31-50 among the top 100 saw a year-on-year increase in cumulative sales, achieving a growth of 4.9%, while all other tiers experienced declines, with the top 4-10 tier seeing the largest drop at 13.3% [9]. Group 4: Future Expectations - Looking ahead to June, it is anticipated that the year-end push from real estate companies, combined with improved supply quality, will support a continued steady recovery in transaction volumes, with month-on-month increases expected [12]. - In major cities like Shanghai, Shenzhen, and Hangzhou, supply constraints are becoming more pronounced, limiting transaction volumes [12]. - Cities that previously underwent significant adjustments, such as Zhengzhou, Tianjin, and Nanjing, are expected to stabilize, while some weaker second-tier cities face ongoing high inventory challenges [12].