| TOP | 债券简称 | 主体名称 | 现价 | | --- | --- | --- | --- | | 1 | SINHLD 10.5% 6/18/22 | 新力控股(集团)有限公司 | 0.37 | | 2 | CHTREE 10.25% 11/17/15 | 中国森林控股有限公司 | 1.43 | | 3 | ZHPRHK 9.15% 5/6/23 | 正荣地产集团有限公司 | 0.71 | | 4 | RONXIN 8.75% 10/25/22 | 融信中国控股有限公司 | 1.80 | | 5 | AGILE 7% 11/24/26 | 富丰投资有限公司 | 1.80 | | 6 | YIHUGR 8.5% 10/23/20 | 宣华企业(集团)有限公司 | 1.45 | | 7 | MSCNTF 5.75% 12/19/28 | 微创医疗科学有限公司 | 126.15 | | 8 | ZHPRHK 7.875% 4/14/24 | 正荣地产集团有限公司 | 0.54 | | 9 | EVERRE 11.5% 1/22/23 | 恒大地产集团有限公司 | 1.69 | | 10 | SKYFAM ...

公司名稱: 中國奧園集團股份有限公司 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) | 03883 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.01 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | HKD | | 0.01 | HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1,000,000,000 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: ...

【1】恩祥睿泽置业13.69亿元摘得昌平0036等地块 7月31日，北京新恩祥睿泽置业有限公司以13.69亿元底价竞得北京市昌平新城东区二期CP00—1101— 0033、0036地块、昌平新城东区四期CP00—1101—0044地块，楼面价约2.18万元/平方米。 出让文件显示，该宗地土地面积约为6.27万平方米，建筑控制规模约为9.03万平方米，容积率2.0，限高 36米（局部45米）。 7月31日，中国奥园发布公告称，陈志斌辞去执行董事职务，自2025年7月31日起生效，但仍将担任联席 总裁，专注于领导和负责集团的债务重组工作。陈志斌将继续负责债务重组方案的制定、与债权人的沟 通协调、执行债务重组方案以及解决执行过程中的问题等关键职责。 此外，蒋展鸿被委任为新的执行董事，同样自2025年7月31日起生效。 【4】杭州城发5亿元中期票据8月11日付息 7月31日，杭州城发发布公告，披露了关于2023年度第一期中期票据2025年度付息安排的相关信息。 公告显示，该期中期票据简称为"23杭州城发MTN001"，发行金额为5亿元，起息日为2023年8月11日， 发行期限为5年，债项余额维持在5亿元，本计息期债项 ...

格隆汇7月31日丨中国奥园(03883.HK)发布公告，陈志斌辞任公司执行董事，自2025年7月31日起生效。 陈先生亦不再担任公司附属公司董事。 此外，蒋展鸿已获委任为执行董事，自2025年7月31日起生效。 ...

智通财经APP讯，中国奥园(03883)发布公告，陈志斌辞任公司执行董事，自2025年7月31日起生效。陈 先生亦不再担任公司附属公司董事。于辞任后，陈先生将继续担任公司联席总裁职务。 蒋展鸿已获委任为执行董事，自2025年7月31日起生效。 ...

中国奥园(03883)发布公告，陈志斌辞任公司执行董事，自2025年7月31日起生效。陈先生亦不再担任公 司附属公司董事。于辞任后，陈先生将继续担任公司联席总裁职务。 蒋展鸿已获委任为执行董事，自2025年7月31日起生效。 ...

獨立非執行董事 張國強先生 李鏡波先生 黃煒強先生 （於開曼群島註冊成立的有限公司） （股份代號：3883） 董事名單與其角色和職能 中國奧園集團股份有限公司董事會（「董事會」）成員載列如下： 執行董事 鄭少輝先生 蔣展鴻先生 非執行董事 郭梓文先生 Mr. Mohamed Obaid Ghulam Badakkan Alobeidli （董事會主席） 史莉莉女士 香港，二零二五年七月三十一日 董事會設立三個董事會轄下委員會。各董事會成員在該等委員會中所擔任之職位載列如下： 審核委員會 張國強先生 （主席） 李鏡波先生 黃煒強先生 薪酬委員會 李鏡波先生 （主席） 張國強先生 黃煒強先生 提名委員會 黃煒強先生 （主席） 張國強先生 李鏡波先生 鄭少輝先生 ...

(1) 執行董事辭任 中國奧園集團股份有限公司（「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，陳志斌先生（「陳先生」）辭任本公司執行董事，自二零二五年七月三十一日起生 效。陳先生亦不再擔任本公司附屬公司董事。 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份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。 （於開曼群島註冊成立的有限公司） （股份代號：3883） 董事變動 (v) 負責遴選債務重組工作的中介服務機構； (vi) 主導債務重組工作團隊的人員選聘與績效考核；及 (vii) 負責在預算內審批及支付與債務重組工作相關的各項費用及支出。 於辭任後，陳先生將繼續擔任本公司聯席總裁職務，專注於領導和負責本集團的債務重組工 作，並直接向本集團首席財務官匯報，而首席財務官向執行董事匯報，最終由執行董事向董事 會進行匯報。陳先生的工作職責包括：- (i) 牽頭制定債務重組工作的整體方案； (ii) 主導與債權人及相關各方的溝通和協調工作； (iii) 負責執行債 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中國奧園集團股份有限公司 呈交日期： 2025年7月28日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | | 03883 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | ...

Group 1: Report Industry Investment Rating - Not mentioned in the provided content Group 2: Report's Core View - This week, most credit spreads in different industries widened, with only a few narrowing. The credit spreads of urban investment bonds widened overall, with the short - end widening more than the long - end. For industrial bonds, the credit spreads of AA+ and above industrial bonds widened to varying degrees, and the short - end of AA industrial bonds also widened. The credit spreads of bank secondary and perpetual bonds widened overall. After a significant adjustment in credit bond yields, the cost - effectiveness of credit bonds has increased from a static coupon perspective. With the rapid decline in black - series futures prices on Friday night, the bond market sentiment may improve, and the space for further adjustment of credit bonds is relatively limited. It is recommended to focus on long - duration urban investment bonds, capital bonds, and insurance sub - debt, especially the long - duration capital bonds of Minsheng, Bohai, and Hengfeng banks, and be optimistic about urban investment dim sum bonds and US dollar bonds [4][43] - Since July 2024, the long - end risk - free interest rate has been in a downward channel, and the yield of ultra - long - term credit bonds has followed suit. Although the proportion of low - valuation transactions and TKN transactions has been rising this year, it has not exceeded last year's high, indicating that the buying sentiment may not have reached its end. With the concentrated listing of science - innovation bond ETFs on July 17, the spreads of medium - and short - term component bonds have been compressed to an extreme level. In the context of the "asset shortage" in the low - interest - rate environment this year, the market may further evolve towards long - duration assets. Investors can still find relatively suitable ultra - long - term credit bond targets in the market [5][49] Group 3: Summary According to the Directory 1. Primary Market 1.1 Net Financing Scale - This week, the net financing of credit bonds (excluding asset - backed securities) was 390.6 billion yuan, an increase of 220.3 billion yuan compared with last week. The total issuance was 631.6 billion yuan, an increase of 233.9 billion yuan, and the total repayment was 241 billion yuan, an increase of 13.6 billion yuan. The net financing of asset - backed securities was 3.09 billion yuan, an increase of 0.91 billion yuan [10] - By product type, the net financing of urban investment bonds was 3.31 billion yuan, an increase of 0.28 billion yuan; that of industrial bonds was 11.06 billion yuan, an increase of 5 billion yuan; and that of financial bonds was 24.69 billion yuan, an increase of 16.74 billion yuan [10] - In terms of the number of issuances and redemptions, the number of urban investment bond issuances increased by 10, and the number of redemptions increased by 33. The number of industrial bond issuances increased by 16, and the number of redemptions decreased by 7. The number of financial bond issuances increased by 7, and the number of redemptions decreased by 3 [12] 1.2 Issuance Cost - The weighted average issuance rates of AA - rated industrial bonds and AA+ - rated financial bonds increased significantly compared with last week, while the issuance rates of other bond types and ratings fluctuated slightly. The issuance rate of AA - rated industrial bonds increased by 51BP, mainly due to bonds such as "25 Nonggu 03" and "25 Tiandiyuan MTN001". The issuance rate of AA+ - rated financial bonds increased by 41BP, mainly due to "25 Donghai 03". The fluctuations of other bonds did not exceed 10BP [18] 2. Secondary Market 2.1 Transaction Situation - In terms of trading volume, the trading volume of credit bonds (excluding asset - backed securities) increased by 178 billion yuan compared with last week. The trading volume of urban investment bonds was 227.2 billion yuan, an increase of 23.5 billion yuan; that of industrial bonds was 361.2 billion yuan, an increase of 3.3 billion yuan; and that of financial bonds was 611.6 billion yuan, an increase of 151.2 billion yuan. The trading volume of asset - backed securities was 1.45 billion yuan, a decrease of 0.22 billion yuan [19] - In terms of turnover rate, the turnover rate of traditional credit bonds increased overall, while that of asset - backed securities decreased. The turnover rate of urban investment bonds was 1.48%, an increase of 0.15 pct; that of industrial bonds was 2.06%, an increase of 0.01 pct; that of financial bonds was 4.12%, an increase of 0.96 pct. The turnover rate of asset - backed securities was 0.42%, a decrease of 0.06 pct [20] 2.2 Yield - The yields of credit bonds with different maturities and ratings increased significantly this week, with an increase range of 7 - 17BP. For example, the yields of AA, AAA -, and AAA+ credit bonds with a maturity of less than 1 year increased by 7BP, 8BP, and 8BP respectively; those with a maturity of 3 - 5 years increased by 10BP, 11BP, and 11BP respectively; and those with a maturity of more than 10 years increased by 17BP, 10BP, and 9BP respectively [24] - Taking AA+ - rated 5 - year bonds of each type as an example, the yields of non - publicly issued industrial bonds and perpetual industrial bonds increased by 11BP and 10BP respectively; the yield of AA+ - rated 5 - year urban investment bonds increased by 10BP; the yields of commercial bank ordinary bonds and secondary capital bonds increased by 7BP and 17BP respectively; and the yield of AA+ - rated 5 - year asset - backed securities increased by 11BP [25] 2.3 Credit Spread - Overall, most credit spreads in different industries widened this week, with only a few narrowing. The credit spreads of AA+ - rated electronics and building materials narrowed by 17BP and 8BP respectively, the credit spread of AA+ - rated light industry manufacturing narrowed by less than 1BP, and the credit spread of AAA - rated leisure services narrowed by 1BP. The credit spreads of other industries and ratings mostly widened, with an increase range of 0 - 7BP [27] 2.3.1 Urban Investment Bonds - By maturity, the credit spreads of urban investment bonds widened overall, with the short - end widening more than the long - end. The 0.5 - 1Y credit spread was 36BP, a widening of 5BP; the 1 - 3Y credit spread was 40BP, a widening of 4BP; the 3 - 5Y credit spread was 58BP, a widening of 1BP; the 5 - 10Y credit spread was 49BP, a widening of less than 1BP; and the credit spread of more than 10Y remained unchanged [32] - By region, most urban investment credit spreads widened, with only a few regions showing a slight compression. For example, the AA - rated credit spreads in Henan and Guizhou compressed by 6BP and 3BP respectively, while the AA - rated credit spread in Yunnan and the AA+ - rated credit spread in Guizhou widened by 12BP and 13BP respectively. The credit spreads in other regions mostly widened by no more than 5BP [33] 2.3.2 Industrial Bonds - The credit spreads of AA+ and above industrial bonds widened to varying degrees this week, and the short - end of AA industrial bonds also widened. For example, the credit spreads of 1Y AAA -, AA+, and AA private - placement industrial bonds widened by 5BP, 5BP, and 3BP respectively, and those of 10Y AAA -, AA+, and AA private - placement industrial bonds compressed by 5BP, 3BP, and less than 1BP respectively. The credit spreads of 1Y AAA -, AA+, and AA perpetual industrial bonds widened by 4BP, 4BP, and 7BP respectively, and those of 10Y widened by 5BP, 3BP, and 1BP respectively [36] 2.3.3 Bank Capital Bonds - The credit spreads of bank secondary and perpetual bonds widened overall this week, with the widening range of different maturities and ratings being 3 - 9BP. The credit spreads of 10Y AAA -, 10Y and 5Y AA+ and 10Y and 5Y AA secondary capital bonds widened by more than 8BP, and the credit spreads of 10Y AAA -, AA+, and AA bank perpetual bonds also widened by more than 8BP. The widening range of other bonds did not exceed 6BP [38] 3. This Week's Bond Market Negative News - Shenzhen Longfor Holdings Co., Ltd. extended the maturity of 5 bond issues; Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. had the implied ratings of 12 bond issues downgraded; Inner Mongolia Oujing Technology Co., Ltd. was placed on the watchlist, and its "Oujing Convertible Bond" was also placed on the watchlist; Midea Real Estate Group Co., Ltd. had the implied ratings of 20 bond issues downgraded; and Agile Group Co., Ltd. extended the maturity of 3 bond issues [2][40] 4. Investment Recommendations - Pay attention to long - duration urban investment bonds, capital bonds, and insurance sub - debt, especially the long - duration capital bonds of Minsheng, Bohai, and Hengfeng banks, and be optimistic about urban investment dim sum bonds and US dollar bonds [43] - Focus on the allocation and trading opportunities of ultra - long - term credit bonds. For industrial bonds, State Grid has the largest scale of ultra - long - term credit bonds and good trading atmosphere, but the yield level is relatively low. Chengtong Holdings, Sinochem Group, Guangzhou Yuexiu, and Sichuan Energy Development are more cost - effective. For urban investment bonds, although the static coupon levels are generally better than industrial bonds, the range of available bonds is relatively narrow. Pay attention to the opportunities for further compression of the spreads of Shenzhen Metro, Shaanxi Communications Control, Yantai Guofeng, and Yizhuang Investment Development. The cost - effectiveness of the ultra - long - term bank secondary capital bonds of several large state - owned and joint - stock banks is limited [6][50]