Core Viewpoint - Zhengrong Real Estate reported a contract sales amount of approximately RMB 4.02 billion for June, indicating ongoing sales activity in the real estate market [1] Summary by Relevant Categories Sales Performance - For the month ending June 30, 2025, the total contract sales amount reached approximately RMB 4.02 billion, with a total sales area of about 23,400 square meters and an average selling price of approximately RMB 17,200 per square meter [1] - Cumulatively, for the first six months ending June 30, 2025, the total contract sales amount was approximately RMB 23.65 billion, with a total sales area of about 142,600 square meters and an average selling price of approximately RMB 16,600 per square meter [1]

正 榮 地 產 集 團 有 限 公 司 （ 於開曼群島註冊成立的有限公司） 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之內容概不負責，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所產生或因依賴該等內容而引致之任何損 失承擔任何責任。 Zhenro Properties Group Limited （股份代號：6158） 於本公告日期，執行董事為陳競德先生及金明捷先生，以及獨立非執行董事為王傳序先生、謝駿先生及楊詠 儀女士。 二零二五年六月 未經審核經營數據 正榮地產集團有限公司（「本公司」，連同其附屬公司統稱為「本集團」）董事會（「董事會」）謹 此宣佈，截至二零二五年六月三十日止月份，本集團連同合營公司及聯營公司的累計合約 銷售金額約為人民幣4.02億元，合約銷售建築面積約為23,384平方米，截至二零二五年六月 三十日止月份的合約平均售價約為每平方米人民幣17,200元。 截至二零二五年六月三十日止六個月，本集團連同合營公司及聯營公司的累計合約銷售金 額約為人民幣23.65億元，合約銷售建築面積約為142,620平方米及合約平均售價約為每平方 米人民幣16 ...

Core Viewpoint - The company, Zhengrong Real Estate, has announced a new restructuring plan for its domestic and overseas debts, which is currently in the preliminary stage and may involve various options for debt management [1] Debt Restructuring Plan - The restructuring plan may include converting all or part of the debt into new shares of the company, with any remaining balance potentially being written off by creditors [1] - The plan may also involve extending the maturity dates for the repayment of all or part of the debt [1] - Creditors may write off all or part of the debt and/or use specific assets of the group to settle all or part of the debt [1] - The restructuring plan is subject to agreements with creditors and may require approvals from relevant authorities, courts, and company shareholders [1]

Group 1 - The company, Zhengrong Real Estate, announced a new restructuring plan for its domestic and overseas debts as decided by its board of directors [1]

Core Viewpoint - The company has announced a new debt restructuring plan for both its domestic and overseas debts, which is currently in the preliminary stage and may involve several measures [1] Group 1: Restructuring Plan Details - The restructuring plan may include converting debts into new shares of the company, extending the maturity dates of the debts, debt write-offs by creditors, and using specific assets of the group to settle debts [1] - The plan is subject to agreements with creditors and may require approvals from relevant authorities, courts, and the company's shareholders [1] - The company intends to provide quarterly updates to shareholders regarding the progress of the restructuring plan [1]

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之內容概不負責，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之任何損 失承擔任何責任。 Zhenro Properties Group Limited 正 榮 地 產 集 團 有 限 公 司 （ 於開曼群島註冊成立的有限公司） （股份代號：6158及債務股份代號：4596、40572、40516） 自願公告 有關實施行動計劃以解決無法表示意見的 季度更新 茲提述本公司截至二零二四年十二月三十一日止年度的年報（「二零二四年報」），本公司核 數師於二零二四年報中就持續經營問題對本公司該年度的財務報表發表無法表示意見（「無 法表示意見」）。 誠如二零二四年報第85頁所披露，本公司已制定計劃及措施以解決持續經營問題。 (1) 將債務（ 全部或部分）轉換為本公司新股份，餘額（ 如有）由債權人註銷； (2) 延長償還債務（ 全部或部分）的到期日； (3) 債權人註銷債務（ 全部或部分），及╱或 (4) 使用本集團的特定資產清償債務（ 全部或部分）。 – 1 – 重 組 計 劃 仍 有 待 與 債 權 ...

Group 1 - The core point of the article is that Malaysia's palm oil exports have increased in June 2023 compared to the same period last month, indicating a positive trend in the palm oil industry [1] - According to the shipping survey agency ITS, the palm oil export volume from Malaysia for the period of June 1-25 is 1,134,230 tons, which is a 6.84% increase from 1,061,589 tons during the same period last month [1]

（ 於開曼群島註冊成立的有限公司） （股份代號：6158） 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之內容概不負責，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份內容而產生或因倚賴該等內容而引致之任何損失 承擔任何責任。 Zhenro Properties Group Limited 正 榮 地 產 集 團 有 限 公 司 於二零二五年六月二十日舉行之 股東週年大會投票表決結果 謹此提述正榮地產集團有限公司（「本公司」）日期為二零二五年五月八日的經修訂股東週年 大會通告（「經修訂股東週年大會通告」）、日期為二零二五年五月八日的公告（「該公告」）及 日期為二零二五年四月二十九日的通函（「通函」）。除另行指明外，本公告所用的詞彙具有 經修訂股東週年大會通告及通函所界定的相同涵義。 股東週年大會的投票表決結果 董 事 會 欣 然 宣 佈 ， 於 股 東 週 年 大 會 上 ， 經 修 訂 股 東 週 年 大 會 通 告 所 載 的 所 有 建 議 決 議 案 （ 第9至11項決議案除外）均以投票表決方式通過。 於股東週年大會當日，已發行股份總數為4,367,756,00 ...

Core Insights - The article discusses the concept of "Sputnik Moment" in various sectors, particularly focusing on the need for a similar moment in Chinese consumer confidence, which has been lacking despite advancements in other industries [1][14]. Group 1: Biotechnology and Pharmaceuticals - CanSino Biologics' PD-1/VEGF dual antibody "Yivolumab" achieved a significant milestone by outperforming the global leader "K drug" in clinical trials, marking a leading position for China in the dual antibody sector [5]. - The proportion of large pharmaceutical companies engaging in significant transactions with Chinese biotech firms has surged from less than 5% before 2019 to 31% in 2024, indicating a growing recognition of China's biotech capabilities [6]. Group 2: Aerospace and Defense - China successfully conducted test flights of two sixth-generation fighter jets on December 26, 2024, marking a significant breakthrough in global aviation technology and establishing China as the first country to achieve this feat [7][8]. - The successful test flights signify a new phase in the competition for air combat dominance, with advanced features such as all-aspect stealth and AI integration [7][8]. Group 3: Artificial Intelligence - DeepSeek's R1 model achieved performance comparable to OpenAI's GPT-3 at a fraction of the training cost, leading to a significant drop in Nvidia's stock price and highlighting a pivotal moment in the AI sector [9]. - The advancements in AI technology from Chinese companies are prompting a reevaluation of strategies in the U.S. tech landscape, as noted by prominent venture capitalists [9]. Group 4: Automotive Industry - In 2024, China exported nearly 6 million vehicles, significantly outpacing Japan's 4 million, with BYD emerging as the largest brand for pure electric vehicles globally [10][11]. - The automotive sector is undergoing rapid changes, with Chinese brands like BYD and Geely ranking among the top ten global automotive brands, reflecting a shift in market dynamics [11]. Group 5: Consumer Confidence and Economic Challenges - Consumer confidence in China has been declining, with significant increases in household savings and deflationary pressures observed [3][14]. - The decline in consumer confidence can be traced back to several factors, including geopolitical tensions, the real estate crisis, and the impact of COVID-19 lockdowns [15][18][20]. - The article emphasizes the need for measures to stabilize the real estate market and enhance consumer confidence to stimulate domestic consumption [24][25].

Primary Market - A total of 23 offshore bonds were issued this week (June 2 - June 6, 2025), including 8 offshore RMB bonds, 9 USD bonds, 4 HKD bonds, 1 SGD bond, and 1 EUR bond, with issuance scales of 14.2717 billion RMB, 2.7447 billion USD, 81.587 billion HKD, 800 million SGD, and 1 billion EUR respectively [2] - The largest single issuance in the offshore RMB bond market was 2 billion RMB by State Grid Corporation, while the highest coupon rate was 6.9% issued by Weifang Ocean Investment Group [2] - In the USD bond market, the largest single issuance was 400 million USD by Shanghai Pudong Development Bank's London branch, with the highest coupon rate at 6.4% from Guangxi Chongzuo Urban Construction Investment Development Group [2] Secondary Market - Most yields on Chinese USD bonds fell this week, with the Markit iBoxx Chinese USD bond composite index remaining flat at 242.35, while the investment-grade USD bond index rose by 0.04% to 235.23 [3] - The high-yield USD bond index decreased by 0.26% to 236.3, with the real estate USD bond index down 0.58% to 178.81 [3] - The largest weekly gain in offshore Chinese bonds was seen in the USD bond issued by Zhengrong Real Estate, which surged by 242.33% to 1.03 [3] Credit Ratings - Several credit ratings were adjusted this week, including the withdrawal of long-term credit ratings for Tai'an Taishan Holdings and Sheyang State-owned Assets Investment Group due to commercial reasons [10] - Standard & Poor's confirmed the long-term issuer credit rating of Geely Holding Group and Geely Automobile at "BBB-", changing the outlook from "stable" to "negative" [10] Domestic News - In May 2025, real estate companies raised a total of 28.88 billion RMB in bond financing, a year-on-year increase of 23.5%, with an average financing rate of 2.35%, down 0.43 percentage points year-on-year [12] - The Ministry of Finance issued 12.5 billion RMB of government bonds in Hong Kong, with a subscription rate of 3.96 times [13] - The Hong Kong government successfully priced approximately 27 billion HKD of green and infrastructure bonds, marking the longest maturity for HKD bonds issued by the government [14] Overseas News - Eurozone inflation in May fell to 1.9%, below the European Central Bank's target, leading to a decline in Eurozone bond yields [15] - The U.S. Treasury conducted a record $10 billion bond repurchase, viewed as a "mini QE" to enhance liquidity in older bonds [16] Offshore Debt Alerts - Longguang updated its restructuring plan for 21 domestic debts totaling over 21.9 billion RMB, aiming to secure cash for repayment [17] - Ping An Insurance plans to issue 11.765 billion HKD of zero-coupon convertible bonds due in 2030 [18] - CIFI Holdings' offshore debt restructuring plan received overwhelming support from creditors [20] - Shimao Group reported a contract sales amount of approximately 2.135 billion RMB in May 2025 [21]