证券代码：002305 证券简称：*ST 南置 公告编号：2026-007 号 南国置业股份有限公司 关于 2025 年年度报告编制及最新审计进展情况的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导 性陈述或者重大遗漏。 南国置业股份有限公司（以下简称"公司"）于 2025 年 4 月 29 日在指定信息披露 媒体上披露了《关于公司股票交易被实施退市风险警示及其他风险警示暨停牌的公告》， 公司股票于 2025 年 4 月 30 日开市起被实施退市风险警示。 根据《深圳证券交易所股票上市规则》（以下简称《股票上市规则》）、《深圳证券 交易所上市公司自律监管指南第 1 号——业务办理》的有关规定，财务类退市风险公 司应当分别在年度报告预约披露日前二十个交易日和十个交易日，披露年度报告编制 及最新审计进展情况。为方便投资者能够及时了解公司年度报告的编制及审计进度， 公司现将 2025 年年度报告编制及最新审计进展情况公告如下： 2026 年 3 月 27 日 审计机构立信会计师事务所（特殊普通合伙）（以下简称"立信事务所"）已与公 司董事会审计委员会、管理层就审计计划、审计范围、时 ...

证券代码：002305 证券简称：*ST 南置 公告编号：2026-006 号 南国置业股份有限公司 股票可能被终止上市的第四次风险提示公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导 性陈述或者重大遗漏。 特别提示： 1.南国置业股份有限公司（以下简称"公司"）于 2025 年 4 月 29 日在指定信息披 露媒体上披露了《关于公司股票交易被实施退市风险警示及其他风险警示暨停牌的公 告》，公司股票于 2025 年 4 月 30 日开市起被实施退市风险警示。若公司 2025 年度出 现《深圳证券交易所股票上市规则》（以下简称"《股票上市规则》"）第 9.3.12 条规定 的情形，公司股票存在被终止上市的风险。 已被实施财务类退市风险警示的情形： | 追溯重述后利润总额、净利润、扣除非经常性损益后的净 | | --- | | 利润三者孰低为负值，且扣除后的营业收入低于 3 亿元； | | 或者追溯重述后期末净资产为负值。 | | 财务报告内部控制被出具无法表示意见或者否定意见的审 | | 计报告。 | | 未按照规定披露内部控制审计报告，因实施完成破产重 | | 整、重组上市或者 ...

证券代码：002305 证券简称：*ST 南置 公告编号：2026-005 号 南国置业股份有限公司 股票可能被终止上市的第三次风险提示公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导 性陈述或者重大遗漏。 特别提示： 1.南国置业股份有限公司（以下简称"公司"）于 2025 年 4 月 29 日在指定信息披 露媒体上披露了《关于公司股票交易被实施退市风险警示及其他风险警示暨停牌的公 告》，公司股票于 2025 年 4 月 30 日开市起被实施退市风险警示。若公司 2025 年度出 现《深圳证券交易所股票上市规则》（以下简称"《股票上市规则》"）第 9.3.12 条规定 的情形，公司股票存在被终止上市的风险。 2.根据《股票上市规则》第 9.3.6 条的规定："上市公司因触及本规则第 9.3.1 条 第一款第一项至第三项情形，其股票交易被实施退市风险警示后，应当在其股票交易 被实施退市风险警示当年会计年度结束后一个月内，披露股票可能被终止上市的风险 提示公告，在首次风险提示公告披露后至年度报告披露前，每十个交易日披露一次风 险提示公告。"公司属于应披露股票可能被终止上市的风险提 ...

Core Viewpoint - The company, Nanguo Real Estate Co., Ltd., is at risk of being delisted due to negative net assets and has issued a second risk warning regarding potential termination of its stock listing [2][3]. Group 1: Risk of Delisting - The company disclosed on April 29, 2025, that its stock would be subject to delisting risk warnings due to a negative net asset value of -1.753 billion yuan as of the end of the 2024 fiscal year [3][4]. - According to the Shenzhen Stock Exchange's listing rules, if the company meets certain negative financial criteria in the following fiscal year, its stock may be terminated from listing [3][8]. - The company is required to issue risk warning announcements every ten trading days until the annual report is disclosed, following the initial warning [2][3]. Group 2: Financial Performance and Restructuring - The company completed a significant asset sale to its controlling shareholder, China Power Construction Real Estate Group, for 1 yuan, with the assessed value of the assets being approximately -2.934 billion yuan [10]. - This restructuring aims to divest from real estate development and leasing, focusing instead on urban operation services, thereby enhancing asset quality and sustainable profitability [10]. - A preliminary performance forecast for 2025 indicates a potential increase in capital reserves by approximately 3.7 billion yuan, which may turn the company's equity from negative to positive [11].

证券代码：002305 证券简称：*ST 南置 公告编号：2026-004 号 南国置业股份有限公司 股票可能被终止上市的第二次风险提示公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导 性陈述或者重大遗漏。 特别提示： 1.南国置业股份有限公司（以下简称"公司"）于 2025 年 4 月 29 日在指定信息披 露媒体上披露了《关于公司股票交易被实施退市风险警示及其他风险警示暨停牌的公 告》，公司股票于 2025 年 4 月 30 日开市起被实施退市风险警示。若公司 2025 年度出 现《深圳证券交易所股票上市规则》（以下简称"《股票上市规则》"）第 9.3.12 条规定 的情形，公司股票存在被终止上市的风险。 2.根据《股票上市规则》第 9.3.6 条的规定："上市公司因触及本规则第 9.3.1 条 第一款第一项至第三项情形，其股票交易被实施退市风险警示后，应当在其股票交易 被实施退市风险警示当年会计年度结束后一个月内，披露股票可能被终止上市的风险 提示公告，在首次风险提示公告披露后至年度报告披露前，每十个交易日披露一次风 险提示公告。"公司属于应披露股票可能被终止上市的风险提 ...

Group 1 - Iwojia (000560) is a leading real estate agency in China, established in 2000, focusing on property leasing, second-hand housing transactions, new house agency, and home services, benefiting from the rental and sales rights policy [1][33] - The company has over 3,000 offline stores and has served more than 10 million families, with its "Xiangyu" brand managing over 400,000 rental units [1][33] - Future prospects include market share expansion due to the deepening of rental and sales rights policies and enhanced service experience through digital tools [1][33] Group 2 - Huafa Group (600325) is a well-established real estate company under the Zhuhai State-owned Assets Supervision and Administration Commission, focusing on real estate development and property services, primarily in the Guangdong-Hong Kong-Macao Greater Bay Area [2][34] - The company actively participates in the rental and sales rights sector with its "Huafa Youjia" rental brand and is involved in urban renewal and industrial support projects [2][34] - Future outlook includes value reassessment of land reserves and profit growth from the expansion of rental business [2][34] Group 3 - Caixin Development (000838) is a listed platform under Chongqing Caixin Group, focusing on real estate development and urban renewal, primarily in the Chengdu-Chongqing economic circle [3][35] - The company integrates into the regional housing rental system through self-owned apartment projects and affordable housing cooperation [3][35] - Future prospects include long-term value release from land reserves and urban renewal projects, with rental business expansion opening new growth opportunities [3][35] Group 4 - China Merchants Shekou (001979) is a flagship real estate platform under China Merchants Group, focusing on real estate development and commercial operations, primarily in key urban clusters [4][36] - The company has over 20,000 rental units under its "Yijian" brand and is deeply involved in the construction of affordable rental housing [4][36] - Future outlook includes profit growth from the expansion of rental business and asset revitalization through REITs pilot projects [4][36] Group 5 - Chengdu Investment Holdings (600649) is a city construction and operation platform under the Shanghai State-owned Assets Supervision and Administration Commission, focusing on real estate development and water operations [5][37] - The company actively responds to policy directions through affordable housing projects and long-term rental operations [5][37] - Future prospects include expansion of rental business scale and long-term value release from urban renewal projects [5][37] Group 6 - Binjiang Group (002244) is a leading real estate company in Hangzhou, focusing on high-quality residential development and commercial operations [6][39] - The company actively participates in the housing rental market through self-owned commercial properties and long-term rental projects [6][39] - Future outlook includes value reassessment of land reserves and profit growth from rental business expansion [6][39] Group 7 - Sealand (002285) is a leading comprehensive real estate service provider in China, focusing on property agency, rental services, and asset operation [7][40] - The company has served over one million families and manages over 100,000 rental units under its "Hongpu Apartment" brand [7][40] - Future prospects include market share expansion and service experience enhancement through digital tools [7][40] Group 8 - Poly Developments (600048) is a flagship real estate platform under Poly Group, focusing on real estate development and property services [8][41] - The company has over 50,000 rental units under its "Poly Apartment" brand and is involved in affordable rental housing construction [8][41] - Future outlook includes profit growth from rental business expansion and financing advantages under state-owned enterprise background [8][41] Group 9 - Huangting International (000056) is a commercial real estate operator based in Shenzhen, focusing on commercial property operations and financial services [9][42] - The company actively participates in the housing rental market through self-owned commercial property transformation and long-term rental operations [9][42] - Future prospects include further opening of rental space through commercial property transformation and value release from urban renewal projects [9][42] Group 10 - Jinhe Commercial Management (603682) is a leading cultural and creative park operator, focusing on urban renewal and cultural park operations [10][43] - The company integrates into the regional housing rental system through park-affiliated apartment operations and affordable housing cooperation [10][43] - Future outlook includes growth in park-affiliated rental business and consolidation of industry position through ongoing urban renewal projects [10][43] Group 11 - Vanke A (000002) is a leading real estate company in China, focusing on real estate development and rental operations [11][44] - The company has over 200,000 rental units under its "Boyu" brand, making it one of the largest long-term rental apartment operators in China [11][44] - Future prospects include profit growth from rental business expansion and asset revitalization through REITs pilot projects [11][44] Group 12 - Tianjian Group (000090) is a city construction and operation platform under the Shenzhen State-owned Assets Supervision and Administration Commission, focusing on real estate development and urban construction [12][45] - The company actively responds to policy directions through affordable housing projects and long-term rental operations [12][45] - Future outlook includes expansion of rental business scale and long-term value release from urban renewal projects [12][45] Group 13 - ST Sunshine (000608) is an established glass manufacturing company transitioning into the new energy and real estate sectors [13][46] - The company attempts to enter the housing rental market through self-owned property transformation and affordable housing cooperation [13][46] - Future prospects include growth in rental business and recovery of overall performance through the expansion of photovoltaic glass business [13][46] Group 14 - 365 Network (300295) is a leading real estate internet service platform, focusing on property information and transaction services [14][47] - The company integrates rental housing information through its online platform, benefiting from the rental and sales rights policy [14][47] - Future outlook includes growth in online rental platform traffic and improved profitability through financial technology business expansion [14][47] Group 15 - Debi Group (300947) is a leading cultural and creative park operator, focusing on urban renewal and cultural park operations [15][48] - The company integrates into the regional housing rental system through park-affiliated apartment operations and affordable housing cooperation [15][48] - Future prospects include growth in park-affiliated rental business and consolidation of industry position through ongoing urban renewal projects [15][48] Group 16 - Changjiang Investment (600119) is a logistics and real estate platform under the Shanghai State-owned Assets Supervision and Administration Commission, focusing on logistics operations and real estate development [16][49] - The company attempts to enter the housing rental market through self-owned property transformation and affordable housing cooperation [16][49] - Future outlook includes growth in rental business and performance improvement through logistics real estate appreciation [16][49] Group 17 - New Huangpu (600638) is a real estate platform under the Shanghai State-owned Assets Supervision and Administration Commission, focusing on real estate development and financial services [17][50] - The company actively participates in the housing rental market through affordable housing projects and long-term rental operations [17][50] - Future prospects include expansion of rental business scale and long-term value release from urban renewal projects [17][50] Group 18 - Yueshin Health (002162) is a health real estate and elderly care service provider, focusing on health real estate development and elderly care services [18][51] - The company integrates into the regional housing rental system through health community-affiliated apartment operations and affordable housing cooperation [18][51] - Future outlook includes growth in health rental business and improved profitability through the expansion of elderly care services [18][51]

Core Viewpoint - The company, Nanguo Real Estate Co., Ltd., anticipates a negative net profit for the fiscal year 2025, marking the first accounting year after the implementation of financial delisting risk warning on its stock. However, a significant asset restructuring completed in 2025 has led to an increase in capital reserves by approximately 3.7 billion yuan, resulting in a turnaround of the company's equity from negative to positive [1][3][16]. Financial Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025, with an expected negative net profit [1]. - The preliminary financial results are based on the company's financial department's initial calculations and have not been audited by the accounting firm [2]. Reasons for Performance Changes - On October 16, 2025, the company disclosed a major asset sale and related party transaction, transferring real estate development and leasing business assets and liabilities to a wholly-owned subsidiary of its controlling shareholder, China Power Construction Real Estate Group Co., Ltd., for 1 yuan. The assessed value of the transferred assets was approximately -2.93 billion yuan [3][10]. - The asset restructuring allows the company to focus on light asset urban operation businesses, transitioning towards becoming a comprehensive urban operation service provider [3][10]. - The completion of this transaction on December 3, 2025, resulted in a significant increase in capital reserves, positively impacting the equity attributable to shareholders [3][16]. Communication with Accounting Firm - The company has communicated with the accounting firm regarding the performance forecast, and there are no significant disagreements between the two parties [1].

股票可能被终止上市的风险提示公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导 性陈述或者重大遗漏。 特别提示： 证券代码：002305 证券简称：*ST 南置 公告编号：2026-003 号 南国置业股份有限公司 1.南国置业股份有限公司（以下简称"公司"）于 2025 年 4 月 29 日在指定信息披 露媒体上披露了《关于公司股票交易被实施退市风险警示及其他风险警示暨停牌的公 告》，公司股票于 2025 年 4 月 30 日开市起被实施退市风险警示。若公司 2025 年度出 现《深圳证券交易所股票上市规则》（以下简称"《股票上市规则》"）第 9.3.12 条规定 的情形，公司股票存在被终止上市的风险。 2.根据《股票上市规则》第 9.3.6 条的规定："上市公司因触及本规则第 9.3.1 条 第一款第一项至第三项情形，其股票交易被实施退市风险警示后，应当在其股票交易 被实施退市风险警示当年会计年度结束后一个月内，披露股票可能被终止上市的风险 提示公告，在首次风险提示公告披露后至年度报告披露前，每十个交易日披露一次风 险提示公告。"公司属于应披露股票可能被终止上市的风险提示公告 ...

Financial Performance - The company expects a net profit loss for the fiscal year 2025, with total profit estimated between a loss of 207 million to 147 million RMB, compared to a profit of 21.32 million RMB in the previous year [3]. - The net profit attributable to shareholders is projected to be a loss between 210 million to 150 million RMB, down from a profit of 22.54 million RMB in the previous year [3]. - Operating revenue is anticipated to be between 100 million to 120 million RMB, significantly lower than the previous year's revenue of 296.96 million RMB [3]. Asset Management - The company completed a major asset restructuring in 2025, increasing capital reserves by approximately 3.7 billion RMB, resulting in a positive equity for shareholders [4]. - The company has transferred real estate development and leasing assets to a subsidiary of its controlling shareholder for 1 RMB, with the assessed value of the assets being -293.44 million RMB [6]. - A preliminary impairment test on various assets has been conducted, and related impairment provisions have been made based on prudence [7]. Business Strategy - The company is shifting its focus towards urban operation and light asset business, aiming to transform into a comprehensive urban operation service provider [6]. Compliance and Transparency - The company’s stock is under delisting risk warning due to a negative net asset value of 1.753 billion RMB as of the end of 2024 [8]. - The financial data presented is preliminary and has not been audited by the accounting firm, urging investors to make cautious decisions [8]. - The company’s designated information disclosure media includes several financial newspapers and websites, ensuring transparency in communication [8].

Group 1 - The retail sector experienced significant gains on January 20, with Shanghai Jiubai and Xinhua Department Store hitting the daily limit, while companies like Hebei Group and Huitong Energy rose over 6% [1] - Shanghai Jiubai's stock price increased by 10.01%, reaching a total market value of 56.40 billion, with a current price of 14.07 [2] - Xinhua Free Trade's stock rose by 6.38%, with a total amount of 8.77 billion and a market value of 49.68 billion, currently priced at 21.99 [2] Group 2 - The National Development and Reform Commission (NDRC) emphasized the importance of strengthening domestic circulation and expanding domestic demand, aligning with the trend of upgrading the country's demand structure [1] - The NDRC plans to develop a strategic implementation plan for expanding domestic demand from 2026 to 2030, focusing on creating new demand through new supply and providing strong innovation measures and resource guarantees [1]