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 因依賴該等內容而引致的任何損失承擔任何責任。 （股份代號：3990） 正面盈利預告 本公告乃根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)條及證券及期 貨條例（香港法例第571章）第XIVA部的內幕消息條文（定義見上市規則）而作出。 美的置業控股有限公司（「本公司」）的董事會（「董事會」）宣佈，根據本公司及其附屬公司 （「本集團」）截至2025年6月30日止六個月（「報告期」）未經審核綜合管理賬目的初步評估及 現時董事會可獲得的其他資料，與截至2024年6月30日止六個月來自本集團持續經營業務的本 公司擁有人應佔利潤約為人民幣140.67百萬元及本公司擁有人應佔核心淨利潤*約為人民幣 142.26百萬元相比，預期報告期內來自本集團持續經營業務的本公司擁有人應佔利潤將錄得 介乎人民幣250.00百萬元至人民幣350.00百萬元及本公司擁有人應佔核心淨利潤*將錄得介乎 人民幣250.00百萬元至人民幣350.00百萬元，升幅主 ...

格隆汇8月15日丨美的置业(03990.HK)宣布，将于2025年8月27日(星期三)举行董事会会议，以(其中包 括)考虑及批准刊发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，以及考虑建议派发中期 股息(如有)。 ...

格隆汇8月15日丨美的置业(03990.HK)宣布，将于2025年8月27日（星期三）举行董事会会议，以（其中 包括）考虑及批准刊发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，以及考虑建议派 发中期股息（如有）。 ...

（股份代號：3990） 董事會召開日期 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 內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 MIDEA REAL ESTATE HOLDING LIMITED 美的置業控股有限公司 （於開曼群島註冊成立的有限公司） 美的置業控股有限公司 主席兼執行董事 郝恒樂 香港，2025年8月15日 於本公告日期，本公司執行董事為郝恒樂先生、王大在先生及劉敏女士；本公司非執 行董事為何劍鋒先生、趙軍先生及任凌艷女士；而本公司獨立非執行董事為譚勁松先 生、歐陽偉立先生及陸琦先生。 美的置業控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈將於2025年8月27日 （星期三）舉行董事會會議，以（其中包括）考慮及批准刊發本公司及其附屬公司截至 2025年6月30日止六個月的中期業績，以及考慮建議派發中期股息（如有）。 承董事會命 ...

Group 1 - The core viewpoint of the article highlights the significant stock price increase of Midea Real Estate, which rose by 11.61% to 4.71 HKD per share, with a trading volume of 39.82 million HKD [1] - Midea Real Estate Holdings Limited focuses on real estate development, property management, asset operation, and real estate technology, aiming to provide smart and healthy living services [1] - The company has over 400 contracted projects covering more than 90 million square meters and is actively promoting innovation and transformation in areas such as green energy-saving and artificial intelligence home solutions [1] Group 2 - As of the 2024 annual report, Midea Real Estate reported total operating revenue of 3.726 billion RMB and a net profit of -2.058 billion RMB [2]

Group 1 - The core viewpoint of the article highlights a significant rise in Hong Kong's real estate stocks, driven by positive industry policies and market sentiment [1] - Midea Real Estate led the gains with an increase of over 13%, while other companies like Greentown China and Sunac China also saw notable rises [1][1] - Recent supportive policies include housing provident fund support for down payments in cities like Tianjin, and new regulations in Changsha and Fuzhou aimed at easing pressure on developers [1][1] Group 2 - The article notes that in the context of a deep adjustment in the real estate industry, some small to medium-sized listed real estate companies are turning their focus to the technology sector through mergers and acquisitions [1] - Industry insiders believe that cross-industry mergers and acquisitions could provide a second growth curve for these companies during the industry adjustment period, enhancing their cyclical resilience [1][1]

Group 1 - The top three stocks with net inflow of southbound funds are Yingfu Fund (02800) with 6.292 billion, Hang Seng China Enterprises (02828) with 1.618 billion, and Southern Hang Seng Technology (03033) with 0.956 billion [1] - The top three stocks with net outflow of southbound funds are China Mobile (00941) with -0.289 billion, Jitu Express-W (01519) with -0.185 billion, and Horizon Robotics-W (09660) with -0.152 billion [1] - In terms of net inflow ratio, Anjii Food (02648), Pacific Shipping (02343), and Yuehai Investment (00270) lead the market with 55.07%, 54.09%, and 53.58% respectively [1] Group 2 - The top ten stocks with the highest net inflow include Yingfu Fund (02800) at 6.292 billion, Hang Seng China Enterprises (02828) at 1.618 billion, and Southern Hang Seng Technology (03033) at 0.956 billion [2] - The top ten stocks with the highest net outflow include China Mobile (00941) at -0.289 billion, Jitu Express-W (01519) at -0.185 billion, and Horizon Robotics-W (09660) at -0.152 billion [2] - The top three stocks with the highest net inflow ratio are Anjii Food (02648) at 55.07%, Pacific Shipping (02343) at 54.09%, and Yuehai Investment (00270) at 53.58% [3]

FF301 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) | 03990 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 1 HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 1 HKD | | 2,000,000,000 | 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: 2025年7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: 美的置業控股有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年8月1日 | 1. ...

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]

Group 1 - The Hong Kong stock market for property stocks experienced a significant upward trend, with Country Garden and Agile Group rising over 7% [1] - Greenland Hong Kong saw an increase of more than 5%, while other companies such as Midea Real Estate, Kaisa Group, Longfor Group, and Sunac China also followed suit with gains [1]