董事名單與其角色及職能 Ronshine China Holdings Limited 融信中國控股有限公司 （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） （股 份 代 號：3301） 馮東成先生 – 1 – 融信中國控股有限公司的董事（「董 事」）會（「董事會」）由 七(7)名 董 事 組 成，彼 等 各 自 的 角 色 及 職 能 如 下： 執 行 董 事： 歐宗洪先生 余麗娟女士 曾飛燕女士 吳建興先生 獨 立 非 執 行 董 事： 任煜男先生 阮偉鋒先生 董 事 會 設 立 三 個 委 員 會。下 表 提 供 各 董 事 會 成 員 於 該 等 委 員 會 中 所 擔 任 的 職 位。 | | 委員會 | | | | --- | --- | --- | --- | | 董事 | 審核委員會 | 薪酬委員會 | 提名委員會 | | 歐宗洪先生 | | 成員 | | | 余麗娟女士 | | | | | 曾飛燕女士 | | | 成員 | | 吳建興先生 | | | | | 任煜男先生 | 成員 | 主席 | | | 阮偉鋒先生 | 成員 | | 主席 | | 馮東成先生 | 主席 | 成員 | ...

Financial Performance - Contract sales amounted to approximately RMB 3,777.44 million, a decrease of about 50.96% compared to last year[2] - Revenue reached approximately RMB 7,107.58 million, down 76.13% year-on-year[2] - Gross loss was approximately RMB 4,717.99 million, compared to a gross profit of RMB 334.37 million last year[2] - The net loss for the year was approximately RMB 12,483.02 million, an increase of about 8% from last year's net loss of RMB 11,558.04 million[2] - Loss attributable to owners of the company was approximately RMB 9,958.49 million, a decrease of about 17.03% from RMB 12,002.31 million last year[2] - For the fiscal year ending December 31, 2025, the total revenue from property sales was RMB 6,691,469,000, a significant decrease from RMB 29,322,249,000 in 2024, representing a decline of approximately 77.2%[24] - The group reported a financing income of RMB 20,200,000 for the fiscal year ending December 31, 2025, compared to RMB 45,790,000 in 2024, showing a decline of about 56.0%[24] - The income tax expense for the fiscal year ending December 31, 2025, was RMB 563,112,000, down from RMB 1,792,084,000 in 2024, reflecting a decrease of approximately 68.7%[26] - The group recorded an operating loss of approximately RMB 9,712.41 million for the year ending December 31, 2025, compared to an operating loss of approximately RMB 7,274.90 million in 2024[70] - The group recorded a gross loss of approximately RMB 4,717.99 million for the year ending December 31, 2025, compared to a gross profit of approximately RMB 334.37 million in 2024, resulting in a gross loss margin of about 66.38%[65] Financial Position - The total assets amounted to RMB 81,176,961,000, a decrease from RMB 99,586,003,000 in 2024[6] - Current liabilities totaled RMB 82,490,568,000, slightly down from RMB 83,422,051,000 in the previous year[6] - The total liabilities reached RMB 87,922,110,000, compared to RMB 92,711,695,000 in 2024[6] - The company’s total equity was reported as negative RMB 6,745,149,000[6] - The debt ratio as of December 31, 2025, was -5.19, compared to 5.11 on December 31, 2024[2] - The total liabilities amounted to RMB 20,196,761,000 in current liabilities and RMB 6,745,149,000 in total liabilities[107] - The group’s borrowings secured by assets amounted to approximately RMB 24,468.44 million as of December 31, 2025, down from approximately RMB 33,775.15 million as of December 31, 2024[82] - The total amount of guarantees provided by the group for outstanding borrowings was approximately RMB 11,987.24 million as of December 31, 2025, compared to approximately RMB 20,058.79 million as of December 31, 2024[83] Operational Challenges - The company faced significant operational pressures due to changes in the real estate market and COVID-19 impacts, affecting its cash flow and debt repayment capabilities[10] - The company needs more time than expected to sell its properties to generate cash and meet its debt obligations[10] - The company is facing significant uncertainty regarding its ability to continue as a going concern due to the volatility in the Chinese real estate market and ongoing uncertainties in obtaining support from banks and creditors[15] - The company is taking measures to control administrative costs and reduce capital expenditures[16] - The company is facing significant operational pressure due to the deteriorating financing environment in the real estate industry, impacting its ability to generate cash from property sales and meet debt obligations[80] Debt and Financing - As of December 31, 2025, the company has outstanding borrowings totaling approximately RMB 32,914,260,000, with RMB 26,164,767,000 constituting a default on principal repayments[13] - The company has outstanding principal amounts of approximately RMB 14,489,681,000 related to various senior notes due in 2022, 2023, and 2024[11] - Successful refinancing of existing loans and obtaining new financing sources from various banks and financial institutions are critical for the company's financial stability[110] - The company has initiated discussions with multiple financial institutions to seek new financing sources and is actively working to expedite the pre-sale and sale of its developed properties[16] Market Conditions - The market remains in a correction phase, with new housing starts continuing to decline, indicating a need for time to stabilize and recover[40] - The real estate market is expected to stabilize in 2026, with a focus on restoring confidence and improving expectations[46] - A total of 175 market stabilization policies were introduced across 107 provinces and cities, focusing on optimizing public funds and enhancing quality[46] - The real estate industry continues to face structural adjustment pressures, with key indicators such as investment and sales showing a downward trend[43] Corporate Governance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange and has complied with all applicable provisions except for a specific deviation[100] - The audit committee has been established in accordance with the listing rules and is responsible for reviewing the financial reporting process and risk management[103] - The independent auditor's report indicated a "disclaimer of opinion" due to significant uncertainties regarding the group's ability to continue as a going concern[106] - The company has confirmed adherence to the standard code for directors' securities transactions throughout the reporting period[102] Future Outlook - The company believes it will have sufficient working capital to meet its operational and financial obligations within the next twelve months[14] - The company aims to accelerate the sales and collection of receivables from its development and completed properties[110] - The overall financial outlook suggests a challenging environment, with significant revenue declines anticipated in the upcoming fiscal year[60] - The company will continue to focus on property development and acquiring quality land parcels in first-tier cities in China, maintaining a cautious approach due to current market conditions[87]

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。 Ronshine China Holdings Limited 融信中國控股有限公司 （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） （股 份 代 號：3301） 董事會會議召開日期 主 席 歐宗洪 香 港，二 零 二 六 年 三 月 十 九 日 於 本 公 告 日 期，歐 宗 洪 先 生、余 麗 娟 女 士、曾 飛 燕 女 士 及 吳 建 興 先 生 為 執 行 董 事；李 樹 培 先 生 為 非 執 行 董 事；任 煜 男 先 生、阮 偉 鋒 先 生 及 馮 東 成 先 生 為 獨 立 非 執 行 董 事。 承董事會命 融信中國控股有限公司 融信中國控股有限公司（「本公司」）董事會（「董事會」）謹 此 宣 佈，董 事 會 會 議 將 於二零二六年三月三十一日（星 期 二）舉 行，藉 以（其 中 包 括）審議及批准本公司 及 其 附 ...

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。 Ronshine China Holdings Limited 融信中國控股有限公司 （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） （股 份 代 號：3301） 二零二六年二月之未經審核營運數據 融信中國控股有限公司（「本公司」，連 同 其 附 屬 公 司 及 其 聯 合 營 公 司 統 稱 為「本 集 團」）董 事（「董 事」）會（「董事會」）欣 然 宣 佈 截 至 二 零 二 六 年 二 月 止 一 個 月，(i)本 集團總合約銷售額約為人民幣37,130,254元；(ii)本集團合約建築面積約為3,207 平 方 米；及(iii)本集團平均合約售價約為每平方米人民幣11,577元。 截 至 二 零 二 六 年 二 月 二 十 八 日 止 兩 個 月，(i)本集團總合約銷售額約為人民幣 254,770,652元；(ii)本集團總合 ...

FF301 呈交日期: 2026年3月5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) | 03301 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | 38,000,000,000 | HKD | | 0.00001 | HKD | | 380,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | 38,000,000,000 | HKD | | 0.00001 | HKD | | 380,000 | 本月底法定/註冊股本總額： HKD 380,000 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2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 融 ...

Report Summary 1. Investment Rating The provided content does not mention the investment rating of the industry. 2. Core View - The market sentiment is dominated by risk - aversion, leading to a significant decline in US Treasury yields. The 10 - year and 2 - year US Treasury yields decreased by 15 and 10 basis points respectively last week to 3.94% and 3.37%. Although recent data shows a rebound in US inflation pressure, risk - aversion sentiment has overshadowed this, causing the yields to drop [1][2][3]. - The geopolitical conflict between the US, Israel and Iran has escalated, with the US and Israel launching military actions against Iran and Iran counter - attacking and blocking the Strait of Hormuz. This has led to a sharp rise in crude oil prices, which may affect inflation. The military action may last for four weeks, and in the short term, US Treasuries may remain volatile under the resonance of risk - aversion and rising inflation expectations. Higher - than - expected inflation data and the rise in energy prices triggered by geopolitical conflicts have further reduced the possibility of the Fed cutting interest rates in March [1][3]. - Driven by the significant decline in US Treasury yields, Chinese dollar - denominated bonds performed well last week, with the Bloomberg Barclays Chinese dollar - denominated bond total return index rising 0.4% for the week. Among them, the high - rating index rose 0.5% and the high - yield index rose 0.2% [1][3]. - In the on - shore market, after the Spring Festival, the central bank net - withdrew short - term liquidity of 611.4 billion RMB through reverse repurchase operations and net - injected long - term funds of 300 billion RMB through MLF over - renewal. Bank - to - bank funding rates have rebounded significantly compared to before the Spring Festival. The 3 - year and 10 - year Treasury yields were flat and up 2 basis points respectively compared to before the Spring Festival, reaching 1.38% and 1.82%. The domestic interest - rate bond market was also boosted by risk - aversion sentiment on Monday, with yields on Treasury bonds of various maturities generally declining. The Two Sessions will be held this week, and the 2026 economic targets, fiscal support, and possible release of more monetary policy signals will be priced in the bond market [1][4]. 3. Summary by Category Off - shore Market - The issuance of Chinese dollar - denominated bonds remained light, with only one new issuance of over $100 million for the whole week. In contrast, the issuance of off - shore RMB bonds was quite active, with a total issuance of 65.5 billion RMB for the whole week, mainly driven by the issuance of 50 billion RMB central bank bills by the People's Bank of China [2]. - The significant decline in US Treasury yields was due to the market being dominated by risk - aversion sentiment. Although recent inflation data in the US has rebounded, the geopolitical risk has significantly escalated, and the US Treasury market has priced in the war risk in advance [2][3]. On - shore Market - After the Spring Festival, funds flowed back to the banking system. The central bank adjusted the liquidity through reverse repurchase operations and MLF. Bank - to - bank funding rates increased, and the yields of 3 - year and 10 - year Treasury bonds changed compared to before the Spring Festival. The domestic interest - rate bond market was affected by risk - aversion sentiment, and the yields of Treasury bonds of various maturities declined. The upcoming Two Sessions may bring new economic and policy signals to the bond market [1][4]. List of Chinese Dollar - denominated Bonds The documents provide a detailed list of Chinese dollar - denominated bonds, including information such as issuers, guarantors, coupon rates, issuance amounts, maturities, and ratings [7][17][23].

Group 1 - The Hong Kong stock market saw a collective rise in property stocks, with Country Garden increasing by 8%, and other companies like Jianfa International Group, Greentown China, and Longfor Group also showing significant gains [1] - Notable stock performances include Country Garden at a latest price of 0.335 with a market cap of 139.99 billion and a year-to-date decline of 19.28%, while Greentown China reached 11.470 with a market cap of 291.29 billion and a year-to-date increase of 35.42% [2] - Other companies such as China Overseas Macro Group and Yuexiu Property also experienced gains of over 4%, indicating a positive trend in the property sector [1][2] Group 2 - The stock price of Jianfa International Group rose by 6.54% to 15.810, with a total market value of 354.17 billion and a year-to-date increase of 1.02% [2] - Longfor Group's stock increased by 4.90% to 10.270, with a market cap of 723.18 billion and a year-to-date rise of 19.98% [2] - Other notable increases include China Jinmao at 4.35% to 1.680, with a market cap of 227.01 billion and a year-to-date increase of 38.84% [2]

Major Events - Xunce (03317) has been included in the Hang Seng Index series [1] - Zhonghui Biotech-B (02627) has been included in the Hang Seng Composite Index [1] - Woan Robotics (06600) has been included in the Hang Seng Composite Index [1] - Guangdong-Hong Kong-Macau Holdings (01396) has been included in the MSCI China Small Cap Index [1] - Different Group (06090) has been included in the Hang Seng Index series [1] - Jinfang Pharmaceutical-B (02595) has been included in both the Hang Seng Index series and MSCI Index [1] - Huitongda Network (09878) has completed the acquisition of a 25% stake in Jintongling (300091.SZ), accelerating the implementation of its "integrated production and sales" strategy [1] - Yingda Real Estate (00432) has received a $400 million offer to acquire Rafflesia Investment Limited [1] Operating Performance - SF Holding (06936) reported a total revenue of 26.86 billion yuan from its express logistics, supply chain, and international businesses in January, a year-on-year increase of 2.22% [1] - Lukoil (06623) announced a total revenue of 24.513 billion yuan for the fiscal year 2024 [1] - YTO Express International (06123) issued a profit warning, expecting a net loss of approximately 145 million to 154 million HKD for the fiscal year 2025 [1] - Sands China Ltd. (01928) reported a net profit of $896 million for 2025, a year-on-year decrease of 14.3% [1] - Shanghai Fudan (01385) reported a net profit attributable to shareholders of approximately 232 million yuan for 2025, a year-on-year decrease of 59.42% [1] - Ronshine China (03301) reported a total contract sales amount of approximately 21.8 million yuan in January, a year-on-year decrease of 37.71% [1] - Greater China Financial (00431) reported a shareholder loss of 113 million HKD for 2024, a year-on-year decrease of 75.98% [1]

Group 1 - The core point of the article is that Rongxin China Holdings Limited reported its unaudited operational data for January 2026, indicating a total contract sales amount of approximately 218 million yuan [1] - The total contracted building area is reported to be around 19,800 square meters [1] - The average contract price is approximately 11,000 yuan per square meter [1]

Group 1 - The core viewpoint of the article highlights that Rongxin China reported a total contract sales amount of approximately RMB 217,640,398 as of January 2026 [1] - The total contracted construction area of the group is approximately 19,838 square meters [1] - The average contract price per square meter is reported to be approximately RMB 10,971 [1]