Core Viewpoint - China Aoyuan (03883.HK) is expected to report a net loss of no more than RMB 9.5 billion for the six months ending June 30, 2025, compared to a net profit of approximately RMB 22.1 billion for the corresponding period in 2024, primarily due to the absence of foreign debt restructuring gains in the current period [1] Financial Performance - The anticipated net loss for the current period is significantly influenced by the previous period's foreign debt restructuring gains [1] - Excluding the impact of restructuring gains, the net loss for the current period is expected to increase by no more than RMB 5 billion compared to the net loss of approximately RMB 4.5 billion in the corresponding period of 2024 [1] Factors Contributing to Loss - The increase in net loss is attributed to several factors, including: - Increased impairment provisions for available-for-sale properties - Anticipated increases in credit loss provisions - Increased losses from asset disposals [1]

本公告所載資料僅基於目前本集團獲得的信息及本公司對本集團綜合管理賬目的初步評估，未經 本公司核數師或審計委員會審閱或審核。本公司仍在落實本集團截至二零二五年六月三十日止六 個月之未經審核中期業績，預期將於二零二五年八月下旬刊發。 承董事會命 中國奧園集團股份有限公司 執行董事 鄭少輝 香港，二零二五年八月二十一日 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） 盈利警告 本公告乃由中國奧園集團股份有限公司（「本公司」，連同其附屬公司，統稱為「本集團」）根據香港聯 合交易所有限公司證券上市規則第13.09(2)(a)條及香港法例第571章證券及期貨條例第XIVA部項下 內幕消息條文而作出。 本公司董事會（「董事會」）謹此知會本公司股東（「股東」）及有意投資者，根據本集團截至二零二五年 六月三十日止六個月（「本期間」）未經審核綜合管理帳目以及現時掌握的其他資料的初步審閱及分 析，本集團預期本期間錄 ...

格隆汇8月18日丨中国奥园(03883.HK)宣布，董事会会议将于2025年8月28日（星期四）举行，以（其中 包括）考虑及批准本公司及其附属公司截至2025年6月30日止六个月的中期业绩及其发布，以及考虑派 发中期股息（如有）。 ...

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。 鄭少輝 香港，二零二五年八月十八日 於本公告日期，本公司執行董事為鄭少輝先生及蔣展鴻先生；本公司非執行董事為郭梓文先生、 Mohamed Obaid Ghulam Badakkan Alobeidli先生及史莉莉女士；及本公司獨立非執行董事為張國強 先生、李鏡波先生及黃煒強先生。 承董事會命 中國奧園集團股份有限公司 執行董事 （於開曼群島註冊成立的有限公司） （股份代號：3883） 董事會會議召開日期 中國奧園集團股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議將於二零二五年八 月二十八日（星期四）舉行，以（其中包括）考慮及批准本公司及其附屬公司截至二零二五年六月三十 日止六個月的中期業績及其發佈，以及考慮派發中期股息（如有）。 ...

Group 1 - The core point of the article is that China Aoyuan issued CAPG 0 PERP, which is currently priced at 0.725, reflecting an increase of 3.571% with a yield of 134.618% [1]

Core Insights - Real estate companies are undergoing organizational restructuring in response to the new market conditions, with a focus on centralizing operations and enhancing risk management [1][3][4] - The trend of "strong headquarters" is emerging, indicating a shift towards more efficient and flexible organizational structures to adapt to market challenges [3][4][5] Group 1: Organizational Restructuring - Over 10 real estate companies, including Poly Developments and China Overseas, have adjusted their organizational structures from January to July 2023 [1][2] - Companies like Poly Developments have merged regional companies to streamline operations, such as combining Jiangsu and Huaihai companies into Jiangsu Company [6][8] - The restructuring aims to reduce management layers, lower communication costs, and improve decision-making efficiency [1][3] Group 2: Shift to Strong Headquarters - The "strong headquarters" model is becoming prevalent, where headquarters take on strategic planning, resource allocation, and risk management roles [4][5] - Companies like China Jinmao and China Resources have transitioned from a three-tier management structure to a more centralized approach [3][4] - This shift is partly driven by the need to adapt to a shrinking market and optimize cash flow by reducing unnecessary expenditures [6][7] Group 3: Cost Reduction and Efficiency - The reduction of regional companies is seen as a key strategy for cost-cutting, with companies focusing on core operations and eliminating middle management layers [6][7] - Real estate firms are concentrating their projects in first and second-tier cities, leading to a significant increase in project concentration and reducing the need for extensive regional management [7][8] - The overall goal is to enhance operational efficiency and stabilize cash flow through refined management practices [9][10]

Core Insights - The article highlights significant declines in the prices of certain Chinese offshore bonds, particularly those issued by Sunac China Holdings, which saw a daily drop of 36.52% for its USD bond [2][4] Group 1: Bond Performance - The largest decline in the day was observed in the bond SUNSHI 7.5% 4/15/24 issued by Sunac China Holdings, which fell to a price of 0.18 [2] - Other notable bonds include SUNSHI 10.25% 9/15/22, which decreased to 0.19, and JOYY 1.375% 6/15/26, which is priced at 69.63 [4] - The bond prices of several other companies, such as China Aoyuan Group and Shimao Group, also reflect varying levels of performance, with Shimao's bonds priced at 4.24 [4] Group 2: Market Context - The data is sourced from the China Economic Society's enterprise foreign debt risk monitoring system, indicating a broader trend in the offshore bond market [2][4] - The report is updated as of 2025, suggesting ongoing monitoring of these financial instruments [2][4]

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。 ...