Core Points - Company completed a share buyback on October 28, 2025, repurchasing a total of 58.7413 million shares, which represents 2.13% of the total share capital [1] - The highest price for the repurchased shares was 5.83 CNY per share, while the lowest price was 4.78 CNY per share, with an average buyback price of 5.28 CNY per share [1] - The total amount spent on the buyback was 310 million CNY, excluding transaction fees such as stamp duty and commissions [1]

Core Viewpoint - Huafa Co., Ltd. announced the completion of its share repurchase on October 28, 2025, acquiring a total of 58,741,300 shares, which represents 2.13% of the company's total share capital [1] Summary by Category - **Share Repurchase Details** - The company completed the share repurchase through centralized bidding transactions [1] - A total of 58,741,300 shares were repurchased [1] - The repurchased shares account for 2.13% of the company's total share capital [1]

一、 回购审批情况和回购方案内容 2024 年 10 月 29 日，公司召开的第十届董事局第四十五次会议审议通过了《关 于以集中竞价交易方式回购股份方案的议案》。同意公司使用自有资金或自筹资金 以集中竞价交易方式回购公司股份，回购资金总额不低于人民币 3 亿元（含本数） 且不超过人民币 6 亿元（含本数），回购价格不超过人民币 9.83 元/股，回购期限 为自董事局审议通过本次回购股份方案之日起 12 个月内。具体详见公司于 2024 年 10 月 30 日披露的《珠海华发实业股份有限公司关于以集中竞价方式回购股份 的预案》（公告编号：2024-058）。 证券代码：600325 证券简称：华发股份 公告编号：2025-095 珠海华发实业股份有限公司 关于回购股份实施结果公告 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： | 回购方案首次披露日 | 2024/10/30 | | | | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 年 2024 10 29 日~2025 ...

证券代码：600325 证券简称：华发股份 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 挂牌转让公告书 联合保荐人（联席主承销商） 联席主承销商 二〇二五年十月 特别提示 一、发行数量及价格 1、发行数量：4,800.00 万张 2、发行价格：100 元人民币/张 3、认购方式：现金 4、募集资金总额：4,800,000,000.00 元 5、募集资金净额：4,723,143,283.13 元 二、本次发行可转换公司债券预计挂牌转让时间 本次向特定对象发行可转换公司债券预计将于 2025 年 11 月 4 日在上海证券 交易所挂牌转让。 三、新增可转换公司债券的限售安排 本次向特定对象发行可转换公司债券无限售安排。本次可转债持有人将其持 有的可转债转股的，所转股票自本次向特定对象发行可转换公司债券发行结束之 日起 18 个月内不得转让。 1 | 特别提示 1 | | --- | | 释 义 4 | | 第一节 本次发行的基本情况 6 | | 一、公司基本情况 6 | | 二、本次新增可转换公司债券发行情况 7 | | 第二节 本次新增可转换公司债券挂牌转让情况 24 | | 一、新增可转换公司债券 ...

股票代码：600325 股票简称：华发股份 公告编号：2025-096 珠海华发实业股份有限公司 三、中介机构核查意见 关于向特定对象发行可转换公司债券挂牌转让的 提示性公告 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。 一、本次挂牌转让的定向可转债概况 2025 年 8 月 4 日，中国证券监督管理委员会（以下简称"中国证监会"）出 具了《关于同意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注册 的批复》（证监许可﹝2025﹞1644 号），根据上述批复，珠海华发实业股份有限 公司（以下简称"公司"）向国信证券股份有限公司等 15 家发行对象发行了可转 换公司债券（以下简称"定向可转债"）。2025 年 10 月 20 日，公司本次发行的 定向可转债在中国证券登记结算有限责任公司上海分公司办理完成登记托管。本 次定向可转债的发行数量为 48,000,000 张,面值为 100 元/张，发行总额为 480,000 万元，简称为"华发定转"，证券代码为"110818"。 二、本次挂牌转让的定向可转债持有人履行承诺情况 ...

国金证券股份有限公司 华金证券股份有限公司 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 挂牌转让保荐书 联合保荐机构（联席主承销商） （成都市青羊区东城根上街 95 号） （上海市静安区天目西路 128 号 19 层 1902 室） 二〇二五年十月 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 挂牌转让保荐书 上海证券交易所： 国金证券股份有限公司（以下简称"国金证券"或"保荐机构"）、华金证 券股份有限公司（以下简称"华金证券"或"保荐机构"）接受珠海华发实业股 份有限公司（以下简称"华发股份"、"发行人"或"公司"）的委托，就发行 人向特定对象发行可转换公司债券并在上海证券交易所（以下简称"上交所"） 挂牌转让事项（以下简称"本次发行"）出具本挂牌转让保荐书。 保荐机构及其保荐代表人根据《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》"）、《证券 发行上市保荐业务管理办法》（以下简称"《保荐办法》"）、《上市公司证券 发行注册管理办法》（以下简称"《注册管理办法》"）、《可转换公司债券管 理办法》，以及《上海证券交易所上市公司 ...

Company Summary - Huafa Co., Ltd. announced the completion of its share repurchase on October 28, 2025, having repurchased approximately 58.74 million shares, accounting for 2.13% of the total share capital [1] - The repurchase was conducted through centralized bidding, with a maximum price of 5.83 CNY per share, a minimum price of 4.78 CNY per share, and an average price of 5.28 CNY per share, totaling approximately 310 million CNY in funds paid [1] - For the first half of 2025, Huafa's revenue composition was as follows: 90.32% from real estate development and operation, 7.23% from other sources, and 2.45% from property services [1] - As of the report date, Huafa's market capitalization was 13.7 billion CNY [1] Industry Summary - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with technology leading the market's transformation [1]

Core Viewpoint - The company has repurchased a total of 58.7413 million shares, representing 2.13% of its total share capital, at an average price of 5.28 CNY per share [1] Summary by Categories Share Repurchase Details - The highest price for the repurchased shares was 5.83 CNY per share, while the lowest price was 4.78 CNY per share [1] - The total amount of funds paid for the share repurchase was 310 million CNY, excluding transaction fees such as stamp duty and commissions [1]

Core Viewpoint - The Chinese real estate industry is undergoing significant anti-corruption measures and restructuring, with increased investigations into executives from both private and state-owned enterprises, indicating a shift towards rational and sustainable development in the sector [1][4]. Group 1: Investigations and Legal Actions - Xu Peixin, the actual controller of Jiangsu Jin Xincheng Property Service Co., has been placed under investigation by the Shanghai Public Security Bureau [2]. - Several private real estate company controllers have faced legal actions this year, including Ou Zongrong from Zhengrong Real Estate and Huang Qisen from Taihe Group, both of whom were subjected to compulsory measures due to alleged illegal activities [3]. - High-ranking officials from state-owned real estate enterprises have also been investigated for serious violations, including Huang Guoxian from Foshan Construction Development Group and Chen Wei from Shanghai Guosheng Group [4]. Group 2: Executive Changes - There has been a notable frequency of executive resignations in the real estate sector, attributed to various personal reasons, including the resignation of Vanke's chairman Xin Jie and several executives from Huafa and Greentown [6][7]. - The ongoing anti-corruption efforts and debt restructuring are contributing to a turbulent leadership environment, with industry insiders suggesting that this will lead to a more stable and quality-focused operational approach in the future [7].

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Rongbai Technology, Xinqianglian, Duofuduo, Hikvision, and Dangsheng Technology [12] - In the last five days, the most researched companies were Xinqianglian, Duofuduo, Baiya Shares, Taotao Vehicle, and Jereh Shares [12] - Among the top twenty companies researched in the past 30 days, 16 had ten or more rating agencies involved [12] Group 2: Major Shareholder Increase in A-Share Companies - From October 20 to October 24, 2025, no A-share companies announced significant shareholder increases [18] - From January 1 to October 24, 2025, a total of 285 companies announced significant shareholder increases, with 76 having ten or more rating agencies [19] - Companies with proposed increase amounts exceeding 1% of the latest market value include Xianhe Shares, Xinjie Energy, Zhongju Gaoxin, and Tunnel Shares [19] Group 3: A-Share Company Buyback Situation - From October 20 to October 24, 2025, 71 companies announced buyback progress, with 19 having ten or more rating agencies [23] - The companies with the highest expected buyback amounts as a percentage of market value include Huafa Shares, Guangzhou Restaurant, Ruoyu Chen, and China Jushi [23] - From January 1 to October 24, 2025, a total of 1,774 companies announced buyback progress, with 347 having ten or more rating agencies [24]