广东恒益律师事务所 关于珠海华发实业股份有限公司 2025 年第七次临时股东会的法律意见书 粤恒益法字 2025 第2 18号 致:珠海华发实业股份有限公司 根据《中华人民共和国证券法》(以下简称:"《证券法》")、《中华人民 共和国公司法》(以下简称:"《公司法》")和中国证券监督管理委员会《上市 公司股东会规则》（以下简称:"《股东会规则》"）等相关法律、法规和其他规 范性文件要求,广东恒益律师事务所(以下简称:"本所")接受珠海华发实业股 份有限公司(以下简称:"公司")的委托,指派本所律师通过现场会议方式对公 司 2025 年第七次临时股东会(以下简称:"本次股东会")进行见证,对本次股 东会的召集与召开程序,出席会议人员资格、表决程序等重要事项出具法律意见。 律师声明事项: 1、本法律意见书是经办律师根据出席本次股东会所掌握的法律事实及公司 提供的有关资料发表法律意见。 2、公司已向本所保证,其已提供为出具本法律意见书所需要的资料,并保 证该等资料真实、准确、完整。 一、本次股东会召集、召开的程序 本次股东会是由公司第十届董事局第六十二次会议决定召开,并于 2025年 12 月 16 日在《中国证券 ...

珠海华发实业股份有限公司 证券代码：600325 证券简称：华发股份 公告编号：2026-001 2025年第七次临时股东会决议公告 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： (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 360 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 896,425,915 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 33.28% | | 份总数的比例（%） | | 注：截至本次股东会股权登记日 2025 年 12 月 24 日，公司总股本为 2,752,152,116 股, 公司回购专用证券账户股份不享有本次会议表决权的情况，无表决权股份总数为 58,741,300 股，有表决权股份总数为 2,693,410,816 股。 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 12 月 31 日 (二)股东会召开的地 ...

证券代码：600325 证券简称：华发股份 债券代码：110818 证券简称：华发定转 珠海华发实业股份有限公司 向特定对象发行可转换公司债券 第一次临时受托管理事务报告 （2025 年度） 债券受托管理人 二〇二五年十二月 重要声明 本报告依据《公司债券发行与交易管理办法》《关于珠海华发实业股份有限 公司向特定对象发行可转换公司债券之债券受托管理协议》（以下简称"《受托 管理协议》"）《珠海华发实业股份有限公司向特定对象发行可转换公司债券募 集说明书》（以下简称"《募集说明书》"）等相关规定，由本次债券受托管理 人国金证券股份有限公司（以下简称"国金证券"）编制。国金证券对本报告中 所包含的从上述文件中引述内容和信息未进行独立验证，也不就该等引述内容和 信息的真实性、准确性和完整性做出任何保证或承担任何责任。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为国金证券所作的承诺 或声明。在任何情况下，投资者依据本报告所进行的任何作为或不作为，国金证 券不承担任何责任。 2 国金证券作为珠海华发实业股份有限公司（以下简称"华发股份"或"公司 ...

Core Viewpoint - Shanghai Xinpudongan Real Estate Co., Ltd. successfully acquired a land parcel in Pudong New District, marking a significant step for Huafa in the Shanghai real estate market, especially after a year of limited participation in land auctions [1][8]. Group 1: Land Acquisition Details - The land parcel acquired is located in Zhoupu Town, covering an area of 3.86 hectares with a plot ratio of 2.0 [2][9]. - The shareholders of Shanghai Xinpudongan include Huafa (45%), Lujiazui (40%), and Zhoupu Urban Construction (15%) [1][8]. - This acquisition is part of a "village-in-the-city" redevelopment project, which includes requirements for public service facilities and residential management [2][9]. Group 2: Market Participation and Strategy - Huafa's participation in Shanghai's land auction market has decreased significantly, with only two appearances in 2024 and one in 2025, compared to 25 land parcels in 2023 [10][11]. - The shift in auction rules to a "high price wins" format has disadvantaged Huafa compared to larger state-owned enterprises [11]. - The company has faced challenges with project sales velocity, with only 45.5% of units sold in its independently developed project in Qingpu [12][11]. Group 3: Sales Performance - Huafa's project in Qingpu, launched in June 2024, has sold 277 out of 609 units, reflecting a sales rate of 45.5% as of December 30, 2025 [12]. - Another project, located in Songjiang, has performed better, with 808 out of 956 units sold, achieving a sales rate of 84.5% [14][15]. - The overall market conditions remain challenging, with increasing pressure on inventory turnover for Huafa [15][16]. Group 4: Strategic Implications - The agreement-based land acquisition strategy allows Huafa to secure land at lower prices while collaborating with local state-owned enterprises, enhancing operational efficiency [17]. - This dual approach of land acquisition and inventory management is seen as a prudent strategy for Huafa to navigate the current market landscape [17].

Core Insights - The article emphasizes the critical role of enterprises in driving economic stability, technological innovation, industrial upgrades, and improving people's livelihoods, positioning them as the "ballast stone" of economic operation and the "main force" of technological innovation [1][2]. Group 1: NEWS Brand Sample Evaluation - The 2025 NEWS Brand Sample focuses on "new consumption, new scenarios, and new applications," assessing companies based on three key dimensions: AI+, green development, and brand social responsibility [2][3]. - The acronym "NEWS" represents four dimensions: - "N" for Innovation (New) evaluates brands on their innovation capabilities and outcomes - "E" for Energy (Energetic) assesses brands' market responsiveness and activity - "W" for Wisdom (Wise) measures strategic planning and decision-making abilities - "S" for Sustainability (Sustainable) looks at social responsibility and long-term development plans [2]. Group 2: Key Brand Highlights - The 2025 NEWS Brand Sample includes 39 companies recognized for their market leadership, innovation, sustainability, and AI+ application capabilities [6]. - Notable brands include: - China Agricultural Bank, which has significantly increased its county loan scale, surpassing 1 trillion yuan, and has seen rapid growth in various financial services [9]. - BYD Group, which achieved the production of its 15 millionth new energy vehicle and expanded its overseas sales significantly, covering over 110 countries [10]. - Tencent, which has seen international market revenue exceed 20 billion yuan and has actively engaged in social responsibility initiatives [11]. - Haidilao, which has innovated its service offerings to enhance customer experience and expand its brand portfolio [16]. - Aier Eye Hospital, which has integrated AI into its services and focused on social responsibility projects [17]. Group 3: Brand Categories - The brands are categorized into different groups based on their strengths: - 9 brands recognized for their influence include China Agricultural Bank, BYD, Tencent, and others [6]. - 9 brands noted for their responsibility include Abbott, Xifeng Wine, and others, focusing on compliance and ESG governance [19]. - 8 brands leading in innovation include Perfect China and Zebra Language, which have made significant market breakthroughs [20]. - 6 brands identified as AI+ pioneers include Xueersi and Squirrel AI, showcasing the application of AI in transforming business models [22]. - 7 brands recognized for industry breakthroughs include Nu Skin and Mousse Group, which have disrupted traditional industry paths [22].

Group 1 - The company Huafa Co., Ltd. announced that as of December 29, 2025, the total amount of guarantees provided by the company and its subsidiaries is 86.634 billion yuan, which accounts for 438.79% of the company's audited net assets for 2024 [1][1][1] - Among the total guarantees, the amount provided specifically for subsidiaries is 80.047 billion yuan [1][1][1]

证券代码：600325 证券简称：华发股份 公告编号：2025-110 珠海华发实业股份有限公司 关于为全资子公司提供担保的公告 本公司董事局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： | | | | 被担保人名称 | 本次担保金 | 实际为其提供的 担保余额（不含本 次担保金额） | 是否在前期预计 | 本次担保是否有 反担保 | | --- | --- | --- | --- | --- | | | 额 | | 额度内 | | | 武汉华发置业有限公司 | 90,000 万元 | 0 万元 | 是 | 否 | | 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 | 8,663,378.44 | | 公司对外担保总额（万元） | | | 对外担保总额占上市公司最近一期 | 438.79 | | 经审计净资产的比例（%） | | | | √担保金额（含本次）超过上市公司最 近一期经审计净资产 50% √对外担保总额（含本次）超过上市公 | | | 司最近一期经 ...

Investment Rating - The report maintains an "Overweight" rating for the real estate industry [4] Core Views - The report emphasizes that policy adjustments are being driven by fundamental pressures, suggesting that the current policy intensity may exceed that of 2008 and 2014, indicating ongoing developments in the sector [4] - Real estate is viewed as an early-cycle indicator, serving as a barometer for economic trends, thus making it a strategic investment choice [4] - The competitive landscape in the industry is improving, with leading state-owned enterprises and select mixed-ownership and private companies performing well in land acquisition and sales [4] - The report continues to favor investment in first-tier cities and select second- and third-tier cities, which have shown better performance during sales rebounds [4] - Supply-side policies, including land storage and management of idle land, are highlighted as critical areas to monitor, with expectations that first- and second-tier cities will benefit more from these changes [4] Summary by Sections New Housing Transactions - In the week, new housing transaction area across 30 cities was 241.0 million square meters, a month-on-month increase of 15.5% but a year-on-year decrease of 41.5% [2][25] - First-tier cities recorded a new housing transaction area of 53.9 million square meters, down 0.4% month-on-month and down 41.3% year-on-year [2][25] - Second-tier cities saw a transaction area of 146.8 million square meters, up 21.7% month-on-month but down 40.6% year-on-year [2][25] - Third-tier cities had a transaction area of 40.4 million square meters, up 18.7% month-on-month but down 45.1% year-on-year [2][25] Secondary Housing Transactions - The total area of secondary housing transactions in 14 sample cities was 208.0 million square meters, a month-on-month increase of 3.8% but a year-on-year decrease of 22.9% [32] - First-tier cities accounted for 89.3 million square meters, up 2.2% month-on-month [32] - Second-tier cities had 83.7 million square meters, down 1.8% month-on-month [32] - Third-tier cities recorded 35.0 million square meters, up 25.9% month-on-month [32] Credit Bonds - During the week (December 22-28), six credit bonds were issued by real estate companies, totaling 4.732 billion yuan, an increase of 0.402 billion yuan from the previous week [3][40] - The total repayment amount was 6.517 billion yuan, a decrease of 0.964 billion yuan, resulting in a net financing amount of -1.785 billion yuan, which is an increase of 1.366 billion yuan from the previous week [3][40]

自2020年起，亿翰智库便持续深耕房地产服务领域研究，率先启动"双十佳"房企服务力深度调研；2021年，我们进一步推出"服务力TOP50"专项研究体 系；至2024年，研究再度升级为"超级服务力"评估模型，系统阐释服务如何重构企业价值内核。 基于此，我们正式发布《2025中国房企超级服务力专项研究》。谨以这份凝聚洞察与沉淀的成果，向所有在行业变革中坚守服务初心、以专业赢得信赖的 同行者致敬，并期待以此为行业在不确定中锚定长期价值、推动持续高质量发展提供智识支撑。 | 排名 | 企业名称 | 排名 | 企业名称 | | --- | --- | --- | --- | | 1 | 绿城中国 | 26 | 大华集团 | | 2 | 保利发展 | 27 | 宸嘉发展 | | 3 | 华润置地 | 28 | 首创城发 | | 4 | 中海地产 | 29 | 金沙集团 | | 5 | 招商蛇口 | 30 | 华远地产 | | 6 | 华发股份 | 31 | 金基集团 | | 7 | 中国金茂 | 32 | 电建地产 | | 00 | 龙湖集团 | 33 | 建杭置业 | | 9 | 万科地产 | 34 | 星河湾 | | ...

股票代码：600325 股票简称：华发股份 公告编号：2025-109 珠海华发实业股份有限公司 关于选举职工董事的公告 本公司董事局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。 特此公告。 珠海华发实业股份有限公司 董事局 二〇二五年十二月二十四日 夏文杰：男，汉族，1978年出生，大学本科学历，中共党员。曾任工商银行珠海分行公司业务部会计、 信贷经理，珠海铧创投资管理有限公司业务拓展部总监，珠海华发集团财务有限公司副总经理、董事， 本公司总裁助理、副首席资金官等职务。现任本公司职工董事、首席资金官、资金管理中心总经理。 根据《中华人民共和国公司法》《珠海华发实业股份有限公司章程》等有关规定，珠海华发实业股份有 限公司（以下简称"公司"）于2025年12月23日召开职工代表大会，选举夏文杰先生为公司第十一届董事 局职工董事（简历附后）。本次职工代表大会选举产生的职工董事，后续将与公司2025年第七次临时股 东会选举产生的非职工董事共同组成公司第十一届董事局，其任期与第十一届董事局任期一致。 夏文杰先生符合《公司法》等有关法律法规及公司 ...