Core Viewpoint - The company has provided a guarantee for its subsidiary, Panyu Jinjiang Company, to support its financing needs, which is a normal business practice and is expected to enhance the company's cash flow without adversely affecting its operations [2][12]. Group 1: Guarantee Details - The company provided a loan guarantee for Panyu Jinjiang Company with a maximum principal amount of RMB 153 million [2]. - The guarantee is part of a broader plan authorized by the company's 2023 annual general meeting, thus not requiring further board or shareholder approval [2][3]. - Chengdu Xiangjiang Company, a subsidiary, has provided counter-guarantees for the guarantees given to Panyu Jinjiang Company [3]. Group 2: Financial Implications - As of March 30, 2025, Panyu Jinjiang's asset-liability ratio was below 70%, indicating a manageable level of debt [12]. - The total amount of external guarantees provided by the company and its subsidiaries is RMB 1.881 billion, which represents 31.90% of the company's audited net assets for 2024 [12]. - There are no overdue guarantees as of the announcement date, indicating a stable financial position [12]. Group 3: Board's Opinion - The board believes that providing the guarantee supports the sustainable development of the subsidiary and meets its operational funding needs, aligning with the interests of the company and its shareholders [12]. - The production and operational status of Panyu Jinjiang Company is normal, and it has the capacity to repay its debts [12].

证券代码：600162 证券简称：香江控股 公告编号：临 2025-029 深圳香江控股股份有限公司 关于为控股子公司提供担保的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 担保对象及基本情况 | | 被担保人名称 | 广州番禺锦江房地产有限公司（以 下简称"番禺锦江"） | | --- | --- | --- | | | 本次担保金额 | 15,300.21 万元 | | 担保对象 一 | 实际为其提供的担保余额 | 15,300.21 万元 | | | 是否在前期预计额度内 | 是 □否 □不适用：_________ | | | 本次担保是否有反担保 | 是 □否 □不适用：_________ | | 担保对象 | 被担保人名称 | 广州市盈泰房地产有限公司（以下 | | 二 | | 简称"盈泰地产"） | | | 本次担保金额 | 14,699.79 万元 | | | 实际为其提供的担保余额 | 14,699.79 万元 | | | 是否在前期预计额度内 | □是 □否 不适用：_盈泰地 ...

Core Insights - The logistics real estate industry in China has a limited number of listed companies, with most focusing on either real estate or logistics, and many involved in warehousing and light asset operations [1][4] - Companies like Jinke, Zhongchu, and others have a high degree of relevance to logistics real estate, while others like R&F and Joy City have a moderate relevance, primarily focusing on real estate development [1][4] Company Overview - Kerry Properties (00683HK): A comprehensive real estate group in Hong Kong, focusing on high-end commercial real estate development and investment, with total assets exceeding HKD 100 billion [3] - R&F Properties (02777.HK): A major residential and commercial real estate developer in China, managing over 300 property projects, currently focusing on debt restructuring and asset optimization [3] - Joy City (000031.SZ): A subsidiary of COFCO, known for urban complex operations, managing over 20 commercial projects, emphasizing young consumer experiences [3] - China Vanke (000002.SZ): A leading real estate company in China, expanding into logistics and cold chain sectors in recent years [3] - SF Holding (002352.SZ): The largest express logistics company in China, operating 84 self-owned cargo planes and focusing on smart logistics transformation [3] Financial Performance - In 2024, revenue for logistics real estate companies shows significant divergence, with leading companies like Zhongchu and SF Holding generating revenues in the hundreds of billions, while some smaller firms report revenues around tens of millions [4][5] - Most companies maintain a gross margin between 10-30%, indicating an overall improvement in industry profitability [4] Revenue and Profitability Metrics - SF Holding reported a revenue of CNY 2844.2 billion with a gross margin of 13.9% in 2024 [5] - Vanke A achieved a revenue of CNY 3431.8 billion with a gross margin of 10.2% [5] - R&F Properties reported a revenue of CNY 187.7 billion but with a negative gross margin of -4.7% [5] Regional Layout - Companies have varying regional focuses, with Kerry Properties targeting key areas like Shanghai and Beijing, while Zhongchu has established a national network with over 100 warehouses across 20 provinces [9][10] - SF Holding is developing logistics hubs in cities like Ezhou and Jiaxing, enhancing its logistics network [10] Business Development Plans - Companies like Huayuan Holdings and Zhongchu are planning to build new logistics parks, focusing on intelligent technology applications and network enhancements [15][17] - Vanke is concentrating on high-standard warehouses and cold chain logistics, while Jinke is exploring synergies between logistics and other real estate sectors [17][18]

证券代码：600162 证券简称：香江控股 公告编号：临 2025-028 深圳香江控股股份有限公司 2025 年半年度业绩公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、本期业绩预告情况 预计 2025 年半年度实现归属于母公司所有者的扣除非经常性损益的净利润 -5,500 万元到-5,000 万元。 （三）本次年度业绩预告数据是财务部门基于自身专业判断进行的初步测 算，未经注册会计师审计。 二、上年同期经营业绩和财务状况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 6 月 30 日 （二）业绩预告情况 经财务部门初步测算，预计 2025 年半年度实现归属于母公司所有者的净利 润-2,800 万元到-2,300 万元，与上年同期相比，将出现亏损。 四、风险提示 本次业绩预告数据是公司财务部门基于自身专业判断的初步核算结果，未经 会计师事务所审计。公司不存在影响本次业绩预告内容准确性的重大不确定因素。 五、其他说明事项 本次业绩预告数据仅为初步核算数据，未经审计机构审计。具体准确 ...

Core Viewpoint - The article discusses the special verification opinion regarding the differentiated dividend distribution plan of Shenzhen Xiangjiang Holdings Co., Ltd. for the year 2024, highlighting the legal compliance and rationale behind the plan [1][2]. Summary by Sections Differentiated Dividend Reasons and Plan - The company held its 13th meeting of the 10th Board of Directors on July 2, 2024, approving a share repurchase plan using self-owned funds to buy back A-shares, with a minimum of 12,145,749 shares and a maximum of 24,291,498 shares at a price not exceeding RMB 2.47 per share [2][4]. - The company’s total distributable profit for 2024 is RMB 597,067,057.45, with a proposed cash dividend of RMB 0.11 per 10 shares, resulting in a total distribution of RMB 35,875,178.04 after excluding repurchased shares [4][5]. Calculation Basis for Differentiated Dividend - As of June 20, 2025, the total share capital for distribution is 3,249,604,222 shares, and the cash dividend per share is calculated to be RMB 0.0109 based on the total shares participating in the distribution [5][6]. - The reference price for ex-dividend is calculated to be RMB 1.5690 per share, indicating a minimal impact of less than 1% on the reference price due to the repurchased shares not participating in the profit distribution [6][7]. Conclusion Opinion - The verification concludes that the differentiated dividend distribution complies with relevant laws and regulations, and the impact on the reference price is minimal, ensuring no harm to the interests of the company and its shareholders [7].

Core Viewpoint - The company has announced a cash dividend distribution plan for its shareholders, with a cash dividend of 0.011 yuan per share, approved at the annual general meeting on May 19, 2025 [1][2]. Dividend Distribution Plan - The cash dividend distribution is based on the total share capital minus the shares held in the company's repurchase account, with a distribution of 0.11 yuan for every 10 shares held [2]. - As of July 11, 2025, the total share capital is 3,249,604,222 shares, resulting in a total profit distribution of approximately 35.75 million yuan [2]. - The reference price for the ex-dividend date is calculated based on the previous closing price minus the virtual cash dividend of 0.0109 yuan per share [2]. Relevant Dates - The key dates for the dividend distribution are as follows: - Record date: July 17, 2025 - Last trading day: July 18, 2025 - Ex-dividend date: July 18, 2025 [1][2]. Implementation of Distribution - Shares held in the company's repurchase account will not participate in the profit distribution [2]. - Cash dividends will be distributed through the China Securities Depository and Clearing Corporation Limited, with shareholders able to collect their dividends on the payment date if they have completed designated transactions [3]. Taxation on Dividends - For individual shareholders and securities investment funds, no income tax will be withheld at the time of cash dividend distribution; tax will be calculated based on the holding period upon stock transfer [4]. - For qualified foreign institutional investors (QFII), a 10% withholding tax will apply, resulting in a net cash dividend of 0.0099 yuan per share [5][6]. - Other non-resident enterprises will not have tax withheld by the company, and the actual cash dividend will be 0.011 yuan per share [6].

北京国枫律师事务所 专项核查意见 国枫律证字[2025]AN100 号 北京国枫律师事务所 Beijing Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 邮编：100005 电话（Tel）：010-88004488/66090088 传真（Fax）：010-66090016 关于深圳香江控股股份有限公司 差异化分红事项的 北京国枫律师事务所 关于深圳香江控股股份有限公司 差异化分红事项的 专项核查意见 国枫律证字[2025]AN100-1 号 致：深圳香江控股股份有限公司 北京国枫律师事务所（以下简称"本所"）受深圳香江控股股份有限公司（以 下简称"公司"或"香江控股"）委托，根据《中华人民共和国公司法》（以下简 称《公司法》）、《中华人民共和国证券法》（以下简称《证券法》）、《上海证券交 易所上市公司自律监管指引第7号——回购股份》（以下简称《回购监管指引》） 等相关法律、法规、规章、规范性文件的有关规定，就公司2024年度利润分配所 涉及的差异化分红（以下简称"本次差异化分红"）相关事项进行了核查并出具 本专项核查意见。 为出具本专项核查意见，本所律 ...

证券代码：600162 证券简称：香江控股 公告编号：临 2025-027 深圳香江控股股份有限公司 2024年年度权益分派实施公告 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/7/17 | － | 2025/7/18 | 2025/7/18 | 差异化分红送转： 是 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 5 月 19 日的2024年年度股东大会审议通过。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利0.011元 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 根据《公司法》、《证券法》、《上海证券交易所上市公司自律监管指引第 7 号 —回 ...

证券代码：600162 证券简称：香江控股 公告编号：临 2025-026 深圳香江控股股份有限公司 关于为全资子公司提供贷款担保的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 担保对象及基本情况 担保对象 被担保人名称 深圳市香江商业管理有限公司（以 下简称"香江商业"） 本次担保金额 21,450 万元 实际为其提供的担保余额 53,675 万元 是否在前期预计额度内 是 □否 □不适用：_________ 本次担保是否有反担保 □是 否 □不适用：_________ 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保总额（万元） | 197,406.78 | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 33.46 | | 100% 特别风险提示 | □对外担保总额超过最近一期经审计净资产 | | | □担保金额超过上市公司最近一期经审计净 | | 资产 | 50% | | | □对合并报表 ...

Core Viewpoint - The company has successfully completed its share repurchase plan, acquiring a total of 18,833,900 shares, which represents 0.576% of its total share capital, with a total expenditure of approximately 31.19 million yuan [1][2]. Summary by Sections 1. Share Repurchase Plan Details - The share repurchase plan was first disclosed on July 3, 2024, with an implementation period from July 2, 2024, to July 2, 2025, and an expected repurchase amount between 30 million yuan and 60 million yuan [1]. - The maximum repurchase price was set at 2.47 yuan per share, and the shares are intended for employee stock ownership plans or convertible bond conversions [1]. 2. Implementation Status - As of the announcement date, the total repurchase amount exceeded the lower limit of the expected repurchase amount, and the plan has been fully executed [2]. - The company repurchased shares at a price range of 1.27 yuan to 1.82 yuan per share, with the first repurchase occurring on August 28, 2024, involving 66,800 shares [2]. 3. Stock Trading by Related Parties - There were no stock trading activities by the company's controlling shareholders, actual controllers, directors, supervisors, or senior management during the period from the initial disclosure of the repurchase plan to the announcement date [3]. 4. Share Changes - Before the repurchase, the total number of shares was 3,268,438,122, and after the repurchase, it remained the same, with the repurchased shares held in a special account for future employee stock ownership plans or convertible bond conversions [4]. 5. Treatment of Repurchased Shares - The repurchased shares will not enjoy rights such as profit distribution, capital increase, or voting rights during the holding period in the special account [5].