致：香港交易及結算所有限公司 公司名稱: 陽光100中國控股有限公司 呈交日期: 2025年12月4日 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11月30日 狀態: 新提交 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) | 02608 | 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 | | 0.01 | HKD | | 40,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.01 | HKD | | 40,000,000 | 本 ...

Core Viewpoint - The article discusses the recent progress in revitalizing previously stalled landmark projects in various cities, highlighting the potential for these "zombie projects" to be brought back to life through coordinated efforts from government, financial institutions, and private investors [3][4]. Group 1: Revitalization of Landmark Projects - Multiple previously stagnant landmark projects are showing signs of potential revitalization, including the Chongqing Bay project and the Shenzhen-Hong Kong International Center [5][6]. - The Chongqing Bay project, acquired by Sunac from Sunshine 100, is set to receive up to 2.476 billion yuan for debt restructuring and new financing, with plans for construction to commence soon [6][7]. - The Shenzhen-Hong Kong International Center, originally acquired by Shimao Group for approximately 23.9 billion yuan, is undergoing a zoning change to allow for mixed residential and commercial use, paving the way for future development [8]. Group 2: Factors Driving Revitalization - The revival of these projects is driven by a combination of policy support, market conditions, and financial backing from institutions, with local governments playing a crucial role in resource coordination [9]. - The 2025 government work report emphasizes the importance of revitalizing existing land and commercial properties, providing a policy basis for the resumption of stalled projects [9]. Group 3: Challenges to Overcome - Despite some projects making progress, others, like the Guangzhou Round Building, continue to face challenges, including failed auctions and complex debt situations [11][12]. - Key challenges for large project revitalization include funding gaps, legal disputes among creditors, and the need to rebuild market trust and brand value [13][14]. - Financial institutions are increasingly important in this process, providing expertise and resources for restructuring and risk management [14].

昔日影视明星李亚鹏开发的丽江雪山艺术小镇，已被控股股东申请破产。 据天眼查信息，日前，阳光壹佰置业集团有限公司（以下简称"阳光壹佰置业集团"）向丽江古城区法院提 交申请，请求对丽江雪山投资有限责任公司（以下简称"雪山公司"）进行破产处理。目前，该案件正处于 破产审查阶段。 丽江雪山艺术小镇，曾是李亚鹏倾注心血的项目。 2012年，李亚鹏持股的雪山公司以总价1.64亿元拿下丽江市束河街道一宗27.256公顷（约408亩）住宿餐 饮用地，计划开发雪山艺术小镇。项目总建筑面积为19万平方米，计划开工时间为2013年8月，产品包括 别墅、酒店、商业区、公寓等，宣称投资总额达35亿元。 雪山艺术小镇 图片来源：每日经济新闻资料图 图片来源：天眼查 公开资料显示，雪山公司为丽江雪山艺术小镇的项目公司，阳光壹佰置业集团通过直接和间接方式持有 雪山公司51%的股份，是该项目的实际控股股东；李亚鹏为雪山公司第二大股东，持股比例约为27.84%。 破产审查是法院在受理破产申请后，对其是否符合法律规定所进行的全面审核过程，主要目的在于确定 债务人是否真正达到破产条件，以及破产申请是否遵循法定程序等。若审核通过，法院将发布裁定受理 ...

Core Viewpoint - The Lijiang Snow Mountain Art Town, developed by former film star Li Yapeng, is facing bankruptcy as the controlling shareholder, Sunshine 100 Real Estate Group, has filed for bankruptcy proceedings against Lijiang Snow Mountain Investment Co., Ltd. [1][2] Company Overview - Lijiang Snow Mountain Investment Co., Ltd. is the project company for the Lijiang Snow Mountain Art Town, with Sunshine 100 Real Estate Group holding 51% of its shares and Li Yapeng as the second-largest shareholder with approximately 27.84% [2][3]. Project Background - The project was initiated in 2012 when Li Yapeng's company acquired a 27.256-hectare land for 164 million yuan, planning to invest a total of 3.5 billion yuan [3][4]. - The first phase of the project began pre-sales in 2014, with prices reaching 21,000 yuan per square meter, making it one of the most expensive real estate projects in Lijiang at that time [3][4]. Sales Performance - Despite initial hype, the sales performance has been poor, with only over 30 villas sold in the first two years after opening [4][5]. - Sunshine 100's financial reports indicate that from 2021 to 2023, the contract sales area for the project was 7,948 square meters, 6,008 square meters, and 2,119 square meters, with corresponding sales amounts of 73.5 million yuan, 104 million yuan, and 26.2 million yuan [5][6]. Financial Struggles - Sunshine 100 Real Estate Group has faced significant financial difficulties, reporting a loss of 5.798 billion yuan in 2024 and 1.086 billion yuan in the first half of 2025 [8][9]. - The company has been involved in legal proceedings, including a liquidation petition filed by creditors due to unpaid debts [8][9]. Bankruptcy Implications - The bankruptcy application could lead to the original shareholders losing their equity value if the company's assets are insufficient to cover its debts [9][12]. - The ongoing bankruptcy review process will freeze all assets and sales proceeds, halting normal operations and sales of the project [9][12]. Current Status - As of now, the project is still operating under the name "Snow Mountain Art Village," but many properties remain unsold and idle [12].

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10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: 陽光100中國控股有限公司 呈交日期: 2025年11月6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) | 02608 | 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 | | 0.01 | HKD | | 40,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.01 | HKD | | 40,000,000 | 第 ...

Core Viewpoint - China Minmetals Corporation has launched the second phase of its "Metal Mining Pioneer Program" training, emphasizing the importance of securing strategic mineral resources for national development amidst complex global changes [3]. Group 1: Training Program Overview - The training program aims to cultivate internationalized mining talents capable of addressing overseas resource development challenges and navigating complex international situations [4]. - The program includes two weeks of intensive domestic training followed by three months of practical experience at overseas mining sites [4]. Group 2: Strategic Importance - The Chairman of China Minmetals, Chen Dexin, highlighted that the current period presents both strategic opportunities and risks, making the supply and security of strategic mineral resources a top priority for the company [3]. - The training initiative aligns with national resource security strategies and reflects the company's commitment to developing a talent pool that understands the political and operational aspects of the mining industry [3].

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: 陽光100中國控股有限公司 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 02608 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 2,550,811,477 | | 0 | | 2,550,811,477 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 2,550,811,477 | | 0 | | 2,550,811,477 | 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 ...

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 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任 。 茲提述陽光100中國控股有限公司（「本公司」）於2025年4月30日刊發其截至2024年12月31日 止年度的年報（「年報」）。除文義另有所指外，本公告所用詞彙與年報中所界定者具有相同 涵義。 誠如年報所披露，本公司核數師就有關本公司截至2024年12月31日止年度的財務報表的持續經 營基準作出無法表示意見（「無法表示意見」）。 誠如年報所披露，為解決無法表示意見問題，本公司已實施了以下計劃和措施（「計劃和措 施」）： – 1 – Sunshine 100 China Holdings Ltd 陽光100中國控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2608） 季度更新 有關解決無法表示意見 ...

Financial Performance - In the first half of 2025, the company achieved contracted sales of approximately RMB339.5 million, with a contracted sales area of approximately 31,839 square meters, indicating growth compared to the same period last year [16]. - The company's revenue for the first half of 2025 was approximately RMB1,376.3 million, representing a 14.8% year-on-year decrease [17]. - The gross profit for the first half of 2025 amounted to RMB6.2 million, primarily due to reduced gross losses from property deliveries compared to the previous year [17]. - The company recognized a net loss of approximately RMB1,146.6 million for the period, mainly driven by gross losses on delivered properties and increased expensed interest costs [17]. - The Group achieved contracted sales of RMB 339.5 million during the Reporting Period, representing a 189.4% increase compared to the same period in 2024 [30]. - The total contracted sales amount for the Reporting Period was RMB 339.5 million, compared to RMB 117.3 million in the same period of 2024 [36]. - The Group's performance indicates a strong recovery and growth trajectory in the property development sector [30]. - The Group's revenue decreased by 14.8% to RMB1,376.3 million from RMB1,614.6 million in the corresponding period of 2024, primarily due to a decline in property sales income [64]. - Income from property sales fell by 16.9% to RMB1,118.0 million from RMB1,345.2 million in the same period of 2024, mainly due to a decrease in the unit price of delivered properties [65]. - Gross profit for the Group was RMB6.2 million, a significant improvement from a gross loss of RMB245.6 million in the corresponding period of 2024 [72]. - Valuation losses on investment properties were RMB149.4 million, down from RMB199.3 million in the corresponding period of 2024, reflecting a decline in property market valuations [73]. Sales and Market Trends - The real estate market in China is experiencing moderate recovery, but ongoing market demand pressures remain, particularly in third- and fourth-tier cities [15]. - High-quality projects in first-tier and core cities have performed relatively steadily despite overall market challenges [15]. - Approximately 83.6% of the contracted sales were generated from the Midwest region [30]. - Contracted sales by type showed that residential properties accounted for 14% of the total area, while commercial properties and car parks made up 86% [36]. - The average unit price for contracted sales was RMB 7,950 per square meter [30]. - The average unit selling price for residential properties was RMB 12,480 per square meter, while for commercial properties and car parks, it was RMB 7,346 per square meter [36]. Operational Strategy - The company plans to enhance operational capabilities and activate asset value by promoting the upgrading and transformation of commercial streets, hotels, and properties [20]. - The company aims to accelerate business transformation by advancing healthcare and cultural tourism projects, focusing on integrated development pathways [22]. - The company will actively pursue debt restructuring to optimize its debt structure and alleviate liquidity pressures [23]. Construction and Development - The total gross floor area (GFA) of newly commenced construction and completed construction during the Reporting Period was nil, consistent with the corresponding period in 2024 [37]. - Total gross floor area (GFA) under construction as of June 30, 2024, is 1,000,874 square meters [41]. - The Bohai Rim region has a total GFA under construction of 516,158 square meters, with Shenyang contributing 94,349 square meters [41]. - The Yangtze River Delta region has a total GFA under construction of 259,382 square meters [41]. - The Pearl River Delta region has a total GFA under construction of 43,808 square meters [41]. - The Midwest region has a total GFA under construction of 181,526 square meters [41]. - The company is actively expanding its property development across multiple economic regions in China [42]. Financial Obligations and Restructuring - The company will actively pursue debt restructuring to optimize its debt structure and alleviate liquidity pressures [23]. - Total loans and borrowings amounted to RMB 23,186.0 million as of June 30, 2025, with a significant portion repayable within one year [104]. - Contracted capital commitments for properties under development amounted to RMB 4,271.8 million as of June 30, 2025, down from RMB 4,797.5 million as of December 31, 2024 [107]. - The Group has received cash totaling RMB4,466.4 million from the Eminent Star Disposal, which includes various deposits and installments [119][122]. - The Group's working capital has not been significantly affected by foreign exchange fluctuations [112][115]. Employee and Governance - As of June 30, 2025, the Group employed 1,613 employees, an increase from 1,524 employees in the corresponding period of 2024 [184]. - Staff costs for the Group during the reporting period were RMB92.7 million, down from RMB102.7 million in the corresponding period of 2024 [184]. - The Group made contributions of approximately RMB7.8 million to the employee retirement scheme for the six months ended June 30, 2025 [184]. - The Company has adopted and complied with all applicable code provisions of the Corporate Governance Code, except for deviations regarding the roles of chairman and CEO, which are held by Mr. Yi Xiaodi since May 11, 2018 [188]. - The management did not provide monthly updates to the Board during the reporting period, but quarterly management accounts were prepared for review [189]. Legal and Compliance Issues - The Stock Exchange issued statements of disciplinary action against the Company and several Directors for failing to publish annual and interim results on time and for not complying with announcement requirements [192]. - The Company and the relevant Directors did not contest their breaches and agreed to the sanctions imposed, including completing 24 hours of training on regulatory and legal topics [194]. - The Company is involved in ongoing litigation with HTI Financial Solutions Limited and Haitong International Financial Products Limited, claiming outstanding principal amounts of USD63,101,000 and USD95,000,000, respectively, along with accrued interest [176].

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: 陽光100中國控股有限公司 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) | 02608 | 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 | | 0.01 | HKD | | 40,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.01 | HKD | | 40,000,000 | 本月底 ...