债券发行金额10.00亿元，发行期限5年，本计息期债项利率3.22%，利息兑付日2026年2月23日。 中国海外发展(00688)发布公告，为保证中海企业发展集团有限公司2022年度第二期绿色中期票据(债券 简称:22中海企业MTN002(绿色)，债券代码:102280323.IB)付息工作的顺利进行，现将有关事宜公告如 下。 ...

债券发行金额10.00亿元，发行期限5年，本计息期债项利率3.22%，利息兑付日2026年2月23日。 智通财经APP讯，中国海外发展(00688)发布公告，为保证中海企业发展集团有限公司2022年度第二期绿 色中期票据(债券简称:22中海企业MTN002(绿色)，债券代码:102280323.IB)付息工作的顺利进行，现将 有关事宜公告如下。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任何損失承擔任何責任。 （於香港註冊成立之有限公司） （股份代號：688） 海外監管公告 本海外監管公告乃根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市 規則」）第13.10B條刊發。 中國海外發展有限公司（「本公司」）於二零二二年二月十七日及其後刊發了關於中海 企業發展集團有限公司（本公司全資附屬公司）發行2022年度第二期綠色中期票據的公 告。 根據有關規定， 中海企業發展集團有限公司 已經於 北京金融資產交易所 （https://www.cfae.cn）、上海清算所（https://www.shclearing.com）及中國貨幣網 （http://www.chinamoney.com.cn）的網站上載了《關於中海企業發展集團有限公司2022 年度第二期綠色中期票據付息安排公告》。 為遵守上市規則第13.10B條，該等上載資料亦刊登於聯交所「披露易」中文版網站 （https://www.hkexnews.hk ...

Core Viewpoint - China Overseas Development (00688) reported a significant increase in contract property sales amounting to approximately RMB 14.478 billion in January 2026, reflecting a year-on-year growth of 20.4% [1] Group 1: Sales Performance - The contract property sales amount for China Overseas series companies reached approximately RMB 14.478 billion, marking a year-on-year increase of 20.4% [1] - The corresponding sales area was approximately 516,600 square meters, which represents a year-on-year decline of 12.9% [1] Group 2: Recognized Sales - As of January 31, 2026, the recognized property sales for China Overseas series companies amounted to approximately RMB 11.146 billion [1] - It is anticipated that the recognized sales will convert into contract property sales in the coming months [1]

Core Viewpoint - China Overseas Development (00688.HK) reported a year-on-year increase of 20.4% in contract property sales amounting to approximately RMB 14.478 billion for January 2026, despite a 12.9% year-on-year decrease in sales area to about 516,600 square meters [1] Group 1: Sales Performance - The contract property sales for January 2026 reached approximately RMB 14.478 billion, reflecting a 20.4% increase compared to the previous year [1] - The corresponding sales area for the same period was approximately 516,600 square meters, which represents a 12.9% decrease year-on-year [1] - As of January 31, 2026, the company recorded recognized property sales of about RMB 11.146 billion, which is expected to convert into contract property sales in the coming months [1] Group 2: Land Acquisition - In January 2026, the company and/or its subsidiaries did not acquire any new land parcels [1] - China Overseas Hongyang Group added a new land parcel in Taizhou, Jiangsu Province, with a gross floor area of approximately 86,700 square meters and a land price of about RMB 287 million [1]

（於香港註冊成立之有限公司） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 一、物業銷售更新 （股份代號：688） 截至二零二六年一月三十一日止一個月 物業銷售和新增土地更新 於二零二六年一月，中國海外系列公司的合約物業銷售金額約人民幣144.78億元，按年 上升20.4%；而相應的銷售面積約為516,600平方米，按年下跌12.9%。合約物業銷售金額 和相應的銷售面積的詳情如下列表1所示。 此外，截至二零二六年一月三十一日，中國海外系列公司錄得已認購物業銷售約人民幣 111.46億元，預期將於往後數月內轉化為合約物業銷售。 1 | | 合約物業銷售 | 銷售面積 | | --- | --- | --- | | | （人民幣億元） | （萬平方米） | | 本公司及其附屬公司 | | | | 地區明細（附註一） | | | | 南部大區 | 30.70 | 5.80 | | 東部大區 | 10.46 | 4.85 | | 中西部大區 | 7.12 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2026年1月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 中國海外發展有限公司 | | | 呈交日期: | 2026年2月3日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 1. 股份分類 普通股 股份類別 不適用 於香港聯交所上市 (註1) 是 證券代號 (如上市) 00688 說明 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 10,944,883,535 0 10,944,883,535 增加 / 減少 (-) 0 0 本月底結存 10,944,883,535 0 10,944,883,535 足夠公眾持股量的確認(註4) (A). 股份期權（根據發行人的股份期權計劃） | 1. 股份分類 | | 普通股 | | 股份類別 | 不適用 | | 於香 ...

消息面上，花旗研究报告指出，中国房地产行业在2025财年将面临大幅减值及毛利率下降的挑战，为 2026年至2030年的新开局奠定基础。尽管如此，多数房企，尤其是国有企业，预计仍将录得盈利。花旗 认为，去库存进展顺利，但由于第四代住宅品质提升，通过现有库存实现的销售额可能减少。完成债务 重组的公司在债务削减或债转股后有望录得显着净利润，部分公司可能启动第二次重组计划。 国泰海通发布研报称，随着公司历史库存项目逐步去化、结转压力释放，住宅开发业务正进入新旧项目 切换阶段。2025年以来公司逆周期加大投资力度，新增项目高度集中于一线及强二线城市核心优质地 块，项目质量显著提升。在此背景下，新项目利润贡献有望逐步对冲历史包袱，推动业绩释放与盈利能 力修复。同时，作为头部央企房企，公司在城市核心区旧改及大型综合体等高门槛项目中的获取能力更 强，有望在资源向头部集中的阶段持续受益。 中国海外发展(00688)涨超3%，截至发稿，涨2.9%，报14.19港元，成交额2.73亿港元。 ...

Group 1 - The core viewpoint of the article indicates that the Chinese real estate industry will face significant impairment and gross margin decline challenges in the fiscal year 2025, setting the stage for a new beginning from 2026 to 2030 [1] - Despite the challenges, most real estate companies, particularly state-owned enterprises, are expected to remain profitable [1] - Citi's research suggests that inventory reduction is progressing smoothly, but sales from existing inventory may decrease due to the enhancement of the quality of fourth-generation residential properties [1] Group 2 - Companies that complete debt restructuring are likely to achieve significant net profits after debt reduction or debt-to-equity swaps, with some companies potentially initiating a second round of restructuring plans [1] - According to Guotai Junan's report, the residential development business is entering a phase of switching between old and new projects as historical inventory projects are gradually being digested and pressure from project turnover is released [1] - Since 2025, companies have increased investment counter-cyclically, focusing on high-quality land in first-tier and strong second-tier cities, leading to a significant improvement in project quality [1] Group 3 - In this context, the profit contribution from new projects is expected to gradually offset historical burdens, driving performance release and recovery of profitability [1] - As a leading state-owned real estate enterprise, the company has a stronger capability to acquire high-threshold projects such as urban core area renovations and large-scale complexes, which is expected to benefit from the concentration of resources towards leading companies [1]

Group 1 - The company is expected to undergo a systematic revaluation of its value driven by the gradual release of new product performance, leading product quality in the housing sector, and the capital cycle being facilitated by commercial REITs [1] - The investment recommendation is to maintain a "buy" rating, with projected EPS for 2025-2027 at 1.18, 1.19, and 1.32 CNY, and a target price of 20.3 HKD based on a 0.5X PB for 2026 [1] - The transition between old and new projects is progressing, with high-quality new investments expected to drive performance recovery as historical inventory projects are gradually liquidated [1] Group 2 - The company has launched the Living OS system, integrating safety, comfort, sustainability, and intelligence into the design, construction, and operation phases, which is expected to create a differentiated advantage in the market [2] - The commercial operation is forming a second growth curve, with the successful listing of the first commercial REITs in 2025 marking a breakthrough in the acquisition, renovation, operation, and exit path [2] - The continuous operation of the REITs platform is anticipated to lower capital costs and enhance asset turnover efficiency, providing long-term valuation and return elasticity for the company's commercial sector [2]