Group 1 - The company held its sixth meeting of the tenth board of directors on August 8, 2025, with all nine directors present, and the meeting was chaired by Chairman Guo Zhulong [1] - The board unanimously approved the proposal regarding the joint utilization of surplus funds from project companies with partners, with a voting result of 9 in favor, 0 against, and 0 abstentions [1] - The details of this proposal will be disclosed on August 9, 2025, in several financial newspapers and online platforms [2] Group 2 - The board also unanimously approved the proposal to convene the sixth extraordinary general meeting of shareholders in 2025, with the same voting result of 9 in favor, 0 against, and 0 abstentions [2] - The details of this shareholder meeting will also be disclosed on August 9, 2025, in various financial publications and online platforms [2]

Meeting Information - The company is convening its 2025 Sixth Extraordinary General Meeting of Shareholders [1] - The meeting will be held on August 25, 2025, with specific voting times outlined for both online and internet voting [1][2] - The meeting location is at He Sheng Wealth Plaza, Beijing [2] Attendance and Voting - All registered shareholders or their authorized agents are entitled to attend the meeting and vote [2] - Registration for attending the meeting is required, with specific documentation needed for both legal representatives and authorized agents [3] - The registration period is from August 21 to August 22, 2025 [3] Agenda and Proposals - The meeting will discuss various proposals, with detailed information to be disclosed on August 9, 2025 [2] - Shareholders can vote on proposals through the Shenzhen Stock Exchange trading system and internet voting system [3][4] Voting Procedures - Specific procedures for online voting are provided, including how to express voting opinions [4] - The voting process includes provisions for both individual proposals and a total proposal [4] Contact Information - The company has provided contact details for inquiries related to the meeting [3]

Group 1 - The company *ST Zhongdi (SZ 000736) announced on August 8 that its 10th Board of Directors held a meeting to discuss the proposal for jointly utilizing surplus funds from project companies with partners [2] - For the fiscal year 2024, the company's revenue composition is as follows: 93.87% from housing sales, 3.98% from property management, 1.21% from other sources, and 0.94% from leasing income [2]

| 证券代码：000736 | 证券简称：*ST | 中地 | 公告编号：2025-086 | | --- | --- | --- | --- | | 债券代码：149610 | 债券简称：21 | 中交债 | | | 债券代码：148551 | 债券简称：23 | 中交 06 | | | 债券代码：134164 | 债券简称：25 | 中交 01 | | | 债券代码：133965 | 债券简称：25 | 中交 02 | | | 债券代码：134197 | 债券简称：25 | 中交 03 | | 中交地产股份有限公司 关于与合作方共同调用项目公司富余资金的公告 重要内容提示： 中交地产股份有限公司（以下简称"公司"）控股子公司中交地 产（苏州）有限公司（以下简称"苏州公司"）拟与合作方苏州隽泽 房地产开发有限公司（以下简称"隽泽公司"）按持股比例以同等条 件继续调用苏州中交路劲地产有限公司（以下简称"中交路劲公司"） 富余资金，其中苏州公司拟调用不超过 40,800 万元，隽泽公司拟调 用金额不超过 39,200 万元。 一、与合作方调用项目公司富余资金情况概述 （一）简述 按照房地产公司经营惯例，公司与合 ...

| 证券代码：000736 | 证券简称：*ST | 中地 | 公告编号：2025-087 | | --- | --- | --- | --- | | 债券代码：149610 | 债券简称：21 | 中交债 | | | 债券代码：148551 | 债券简称：23 | 中交 06 | | | 债券代码：134164 | 债券简称：25 | 中交 01 | | | 债券代码：133965 | 债券简称：25 | 中交 02 | | | 债券代码：134197 | 债券简称：25 | 中交 03 | | 中交地产股份有限公司 关于召开 2025 年第六次临时股东大会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、召开会议的基本情况 （一）股东大会届次：2025 年第六次临时股东大会。 （二）召集人：经公司第十届董事会第六次会议审议通过，由公 司董事会召集本次股东大会。 （三）本次股东大会会议召开符合公司《章程》及有关法律、行 政法规等的规定。 （四）召开时间 2、网络投票方式：公司将通过深圳证券交易所交易系统和互联 网投票系统（http://wltp.c ...

本项议案详细情况于 2025 年 8 月 9 日在《中国证券报》、《证 券时报》、《上海证券报》、《证券日报》和巨潮资讯网上披露，公 告编号 2025-086。 | 证券代码：000736 | 证券简称：*ST | 中地 公告编号：2025-085 | | --- | --- | --- | | 债券代码：149610 | 债券简称：21 | 中交债 | | 债券代码：148551 | 债券简称：23 | 中交 06 | | 债券代码：134164 | 债券简称：25 | 中交 01 | | 债券代码：133965 | 债券简称：25 | 中交 02 | | 债券代码：134197 | 债券简称：25 | 中交 03 | 中交地产股份有限公司第十届董事会 第六次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 中交地产股份有限公司（以下简称"公司"）于 2025 年 8 月 4 日以书面方式发出了召开第十届董事会第六会议的通知，2025 年 8 月 8 日，公司第十届董事会第六次会议以现场结合通讯方式召开，会 议应到董事9人，实到董事9人。本次会议 ...

Core Viewpoint - The real estate industry is undergoing a structural adjustment, with companies shifting from "heavy asset development" to "light asset operation" in response to tightening financing and profit pressures [1][2]. Group 1: Strategic Divestiture - China Communications Real Estate (中交地产) announced a complete divestiture of its loss-making real estate business, focusing instead on property management and asset management, marking a significant shift towards light asset operations [2][3]. - The divested assets are primarily high-debt and cyclical projects, which will alleviate financial pressure and restore net asset safety margins for the company [2][3]. - This strategic move is not merely a reactive measure but a proactive adjustment towards building a sustainable business model, emphasizing the stability and replicability of light asset operations [2][3]. Group 2: Industry Trends - Other real estate companies have also made similar transitions, such as Huayuan Real Estate and Pearl River Shares, indicating a broader industry trend away from heavy asset models due to declining market risk appetite and stricter policy guidance [3]. - Companies that have shifted focus to light asset operations have generally experienced valuation recovery, with property management firms like China Merchants Jinling and Nandu Property showing significantly higher price-to-earnings ratios compared to traditional real estate developers [3]. Group 3: Central Enterprise Value Reassessment - As a subsidiary of China Communications Group, 中交地产 will operate its light asset business under the "China Communications Service" brand, leveraging the central enterprise's resource synergies [4]. - The company is expected to gain more opportunities for managing core assets due to the group's strategic positioning in major cities and transportation sectors [4]. - Unlike private property management firms that often expand in a scattered manner, central enterprise platforms emphasize resource integration, providing a higher starting point for operational space and project development [4]. Group 4: Conclusion - The divestiture of heavy assets is not a retreat but a repositioning for future growth, as companies like 中交地产 actively adjust to provide new valuation paradigms in the capital market [5]. - The transition to light asset operations is expected to improve financial conditions and operational efficiency, while also offering new growth potential for listed platforms [5]. - In the ongoing pursuit of high-quality development in the real estate sector, light asset operation platforms with central enterprise backgrounds and resource integration capabilities will become new focal points in the market [5].

证券代码：000736 证券简称：*ST 中地 公告编号：2025-084 债券代码：149610 债券简称：21 中交债 债券代码：148551 债券简称：23 中交 06 债券代码：134164 债券简称：25 中交 01 债券代码：133965 债券简称：25 中交 02 债券代码：134197 债券简称：25 中交 03 中交地产股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示： 作比例以同等条件向武汉嘉秀房地产开发有限公司（以下简称"武汉 嘉秀"）、台州滨交房地产开发有限公司（以下简称"台州滨交"） 提交董事会和股东大会审议。 一、财务资助进展情况概述 （一）简述 按照房地产公司经营惯例及合作约定，公司作为房地产项目公司 股东，与合作方共同为房地产项目公司提供股东借款，满足其日常经 营资金需求，如该房地产项目公司为公司的参股公司或并表但持股未 超过 50%的控股子公司，则上述行为将构成公司对房地产项目公司提 供财务资助。 （二）财务资助基本情况 助不超过 980 万元（到期续借），期限不超过 1 年，年利率 0%。 助合计不 ...

| 证券代码：000736 | 证券简称：*ST | 中地 公告编号：2025-084 | | --- | --- | --- | | 债券代码：149610 | 债券简称：21 | 中交债 | | 债券代码：148551 | 债券简称：23 | 中交 06 | | 债券代码：134164 | 债券简称：25 | 中交 01 | | 债券代码：133965 | 债券简称：25 | 中交 02 | | 债券代码：134197 | 债券简称：25 | 中交 03 | 中交地产股份有限公司 关于为项目公司提供财务资助进展情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示： 1、中交地产股份有限公司（以下简称"公司"）与合作方按合 作比例以同等条件向武汉嘉秀房地产开发有限公司（以下简称"武汉 嘉秀"）、台州滨交房地产开发有限公司（以下简称"台州滨交"） 2 家项目公司提供财务资助合计不超过 1,785 万元。 2、上述财务资助在公司股东大会审议通过的额度内，不需另行 提交董事会和股东大会审议。 一、财务资助进展情况概述 （一）简述 按照房地产公司 ...

Core Viewpoint - China Communications Real Estate Co., Ltd. (中交地产) is transitioning from heavy asset real estate development to a lighter asset model by transferring its real estate-related assets and liabilities to its controlling shareholder for a nominal price of 1 yuan, aiming to enhance its operational sustainability and mitigate delisting risks [3][5][6]. Group 1: Financial Performance and Strategic Shift - The company has reported continuous losses in its real estate development business, with net profits of 0.34 billion yuan in 2022, -1.611 billion yuan in 2023, and an expected -5.179 billion yuan in 2024, alongside a projected loss of 1.19 billion yuan for the first half of 2025 [5][6]. - As of the end of 2024, the company's consolidated asset-liability ratio stood at 89.75%, with total liabilities of 576.44 billion yuan and short-term debt obligations of 217.24 billion yuan [5][6]. - The asset transfer is expected to improve the company's financial metrics, with net profit projected to rise from -5.179 billion yuan to 0.91 billion yuan post-transaction, while the asset-liability ratio will decrease to 40.17% [6]. Group 2: Business Model Transition - Following the asset transfer, the company plans to focus on lighter asset businesses, including property management and asset operation, which are deemed to have better stability and profitability [7]. - The company aims to acquire 100% of China Communications Property Service Group for nearly 700 million yuan to expand its property management services, which currently cover over 60 cities [7][8]. - Despite the strategic shift, the revenue contribution from lighter asset businesses remains low, with property management revenue at only 7.28 billion yuan, accounting for 3.98% of total revenue in 2024 [8]. Group 3: Industry Context and Future Outlook - The real estate market is expected to experience a long-term contraction in new housing demand, favoring companies with strong financial capabilities and lower debt pressure [9]. - Industry experts suggest that companies entering the lighter asset model must remain vigilant about new risks and conduct thorough strategic research to enhance competitiveness and growth potential [9].