Core Viewpoint - Financial Street is expected to report a net loss of 4.5 billion to 6.5 billion yuan in 2025, with a net loss of 4.3 billion to 6.3 billion yuan after excluding non-recurring gains and losses [1] Financial Performance - The projected net loss for 2025 is between 4.5 billion and 6.5 billion yuan [1] - The adjusted net loss, excluding non-recurring items, is estimated to be between 4.3 billion and 6.3 billion yuan [1]

Group 1 - The company, Financial Street, expects a net profit loss for the fiscal year 2025, projecting a loss between 4.5 billion to 6.5 billion yuan [1] - In the same period last year, the company reported a loss of 11.084 billion yuan [1]

Group 1 - The company is projected to report a preliminary net loss ranging from 4.5 billion to 6.5 billion RMB for the year [1]

Financial Performance - The company expects a net profit attributable to shareholders to be a loss of between 450 million and 650 million yuan, compared to a loss of 1,108.372 million yuan in the same period last year[3]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of 430 million to 630 million yuan, compared to a loss of 997.901 million yuan in the previous year[3]. - The basic earnings per share is expected to be a loss of between 1.51 yuan and 2.17 yuan, compared to a loss of 3.71 yuan per share in the previous year[3]. Real Estate Development Losses - The company anticipates a loss of approximately 2.5 to 3 billion yuan from real estate development due to market pricing strategies and project settlement losses[6]. - An additional loss of about 1.5 to 3 billion yuan is expected from impairment provisions on certain inventory projects[6]. Cash Flow and Liabilities - The company aims to achieve a net cash flow from operating activities of approximately 2 billion yuan, maintaining positive cash flow for seven consecutive years[7]. - By the end of 2025, the company's cash balance is expected to be around 16.6 billion yuan, covering all interest-bearing liabilities due within one year for six consecutive years[7]. - The company plans to reduce interest-bearing liabilities by approximately 5 billion yuan by the end of 2026, following the repayment of financial products issued in December 2025[7]. Operational Focus - The company will focus on enhancing operational efficiency and cost control while promoting sales and project cash collection in its real estate development business[9]. - The company is committed to improving service levels and customer experience in its asset management business while expanding and upgrading urban renewal and cultural tourism projects[9].

关于 金融街控股股份有限公司 2025 年度业绩预告的 2026 年 1 月 重要声明 本报告依据《公司债券发行与交易管理办法》《公司债券受托管理人执业行 为准则》、金融街控股股份有限公司（以下简称"发行人"或"公司"）就存续 公司债券与受托管理人签署的受托管理协议（以下简称"《受托管理协议》"） 及其它相关信息披露文件以及发行人出具的相关说明文件和提供的相关资料等， 由受托管理人中信建投证券股份有限公司（以下简称"中信建投证券"或"受托 管理人"）编制。中信建投证券编制本报告的内容及信息均来源发行人提供的资 料或说明。 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 事宜作出独立判断，而不应将本报告中的任何内容据以作为中信建投证券所作的 承诺或声明。在任何情况下，未经中信建投证券书面许可，不得将本报告用作其 他任何用途。 1 临时受托管理事务报告 | 债券简称：21 | 金街 | 07 | 债券代码：149746.SZ | | --- | --- | --- | --- | | 债券简称：22 | 金街 | 03 | 债券代码：149915.SZ | | 债券简称：22 | 金街 | 0 ...

| 债券代码: | 148333.SZ | 债券简称: | 23 金街 07 | | --- | --- | --- | --- | | | 148378.SZ | | 23 金街 10 | | | 148459.SZ | | 23 金街 11 | | | 148796.SZ | | 24 金街 03 | | | 148797.SZ | | 24 金街 04 | | | 148598.SZ | | 24 金街 05 | | | 148599.SZ | | 24 金街 06 | | | 524026.SZ | | 24 金街 09 | | | 133958.SZ | | 25 金街 01 | | | 134276.SZ | | 25 金街 02 | 平安证券 (住所: 深圳市福田区福田街道益田路5023号平安金 融中心B座第22-25层) 2026年 1 月 重要声明 本报告依据《公司债券发行与交易管理办法》、《公司债券受托管理人执业 行为准则》、《债券受托管理协议》、《募集说明书》等相关信息披露文件、公 开信息以及金融街控股股份有限公司（以下简称"发行人"或"公司"）出具的 相关说明文件以及提供的相关资料等, ...

Core Viewpoint - The State Administration of Foreign Exchange of China reported the trading volume of the foreign exchange market for December 2025, indicating significant activity in both the customer and interbank markets, as well as in spot and derivatives trading [1]. Group 1: December 2025 Trading Data - The total trading volume in China's foreign exchange market (excluding foreign currency pairs) reached 28.17 trillion RMB (approximately 3.99 trillion USD) in December 2025 [1]. - The customer market accounted for 4.78 trillion RMB (about 0.68 trillion USD), while the interbank market had a trading volume of 23.39 trillion RMB (around 3.31 trillion USD) [1]. - The spot market saw a cumulative trading volume of 10.44 trillion RMB (equivalent to 1.48 trillion USD), and the derivatives market totaled 17.73 trillion RMB (approximately 2.51 trillion USD) [1]. Group 2: Annual Trading Data for 2025 - For the entire year of 2025, the cumulative trading volume in China's foreign exchange market reached 304.57 trillion RMB (approximately 42.64 trillion USD) [1].

Core Viewpoint - The company is actively exploring and researching asset-backed securities, including REITs, but has not yet issued public REITs [1] Group 1: Company Activities - The company has been actively revitalizing its held properties and has issued CMBS using assets such as Beijing Financial Street Center, Beijing Financial Building, Shanghai Financial Street Helen Center, and Shanghai Rongyue Center [1] - The issuance of CMBS has allowed the company to raise long-term, low-cost funds [1] - The company is gradually building a comprehensive "investment, financing, management, and exit" business model [1]

Core Viewpoint - Financial Street Securities (01476.HK) expects to record a profit attributable to shareholders of approximately RMB 327 million for the year ending December 31, 2025, compared to a profit of approximately RMB 176 million for the year ending December 31, 2024, indicating a significant increase in performance [1]. Group 1 - The board believes that the increase in operating performance compared to 2024 is primarily due to the rise in revenue from securities brokerage and proprietary investment businesses [1].

Core Viewpoint - Financial Street Securities (01476) anticipates a significant increase in shareholder profit, projecting approximately RMB 327 million for the year ending December 31, 2025, compared to an estimated RMB 176 million for the year ending December 31, 2024, indicating a positive growth trajectory in the company's financial performance [1] Financial Performance - The company expects a rise in shareholder profit from RMB 176 million in 2024 to RMB 327 million in 2025, reflecting an increase of approximately 85.23% [1] - The board attributes the improvement in operational performance to increased revenues from securities brokerage and proprietary investment businesses [1]