FF301 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: 2025年12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: 碧桂園控股有限公司 (於開曼群島註冊成立之有限公司) 呈交日期: 2026年1月7日 I. 法定/註冊股本變動 | 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) | 02007 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.1 HKD | | 10,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 100,000,000,000 | HKD | | 0.1 HKD | | 10,0 ...

Core Insights - Yang Huiyan has led Country Garden through a challenging period since taking over as chairperson, marking over 1000 days in leadership [3][14] - The company faced significant difficulties, with sales dropping from 219.98 billion yuan in 2023 to 60.48 billion yuan in 2024 and further to 40.28 billion yuan in 2025, leading to a shift in focus towards stabilizing operations and debt management [3][14] - The announcement of a "second entrepreneurship" phase indicates a transition from crisis management to normal operational recovery, emphasizing quality and refined operations [3][14] Debt Restructuring - Debt restructuring has been a critical strategy for the company under Yang Huiyan's leadership, with significant losses anticipated in the first half of 2023 due to unfavorable market conditions [4][15] - The company announced a debt restructuring proposal on January 9, 2025, with a total of approximately 177 billion USD in foreign debt and 13.77 billion yuan in domestic debt successfully restructured by December 4, 2025 [4][15][16] - The restructuring is expected to reduce the overall debt burden by over 90 billion yuan and significantly lower financing costs to 1%-2.5%, alleviating cash flow pressures and enhancing net assets [5][16] Management Changes - On December 4, 2025, the company announced new management appointments, with Mo Bin becoming co-chairman and Cheng Guangyu taking over as president, aimed at enhancing strategic operations and addressing business challenges [6][17][18] - The management reshuffle aligns with the company's efforts to restore normal operations following the successful debt restructuring [6][18] Strategic Direction - The company is entering a new development phase, focusing on optimizing debt structure and restoring normal operations, as highlighted in a joint New Year's message from Yang Huiyan, Mo Bin, and Cheng Guangyu [8][20] - Yang Huiyan emphasized a shift in operational thinking from large-scale development to refined operations, integrating customer-centric approaches into all processes [9][22] - The "one body, two wings" strategy, which includes real estate development and technology construction, is expected to align with current policy directions and create new growth opportunities [9][21] Market Position and Challenges - The real estate market has shifted to a buyer's market, necessitating a change in operational strategies to meet localized demands and enhance customer satisfaction [10][23] - Despite the positive developments, the company still faces challenges, including numerous legal issues and outstanding debts totaling over 6.3 billion yuan [10][23]

Core Viewpoint - Country Garden disclosed its unaudited operating brief for December 2025, indicating a significant contract sales amount and area sold, reflecting the company's performance in the real estate market [1] Group 1: Financial Performance - In December 2025, Country Garden and its subsidiaries, along with joint ventures and associates, achieved a contract sales amount attributable to shareholders of approximately 2.69 billion yuan [1] - The contract sales area attributable to shareholders was approximately 310,000 square meters [1]

碧桂园(02007)发布公告，本公司及其附属公司(本集团)，连同其合营公司和联营公司于2025年12月单月 共实现归属本公司股东权益的合同销售金额约人民币26.9亿元，归属本公司股东权益的合同销售建筑面 积约31万平方米。 ...

Core Viewpoint - Country Garden (碧桂园) reported a contract sales amount attributable to shareholders of approximately RMB 2.69 billion for December 2025, along with a contract sales area of about 310,000 square meters [1] Group 1 - The company achieved a contract sales amount of approximately RMB 2.69 billion in December 2025 [1] - The total contract sales area attributed to the company's shareholders was around 310,000 square meters [1]

Group 1 - The company, Country Garden (02007.HK), reported a contract sales amount attributable to shareholders of approximately RMB 2.69 billion for December 2025 [1] - The total contract sales area attributable to shareholders was approximately 310,000 square meters [1]

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。 上述已披露初步數據取自本集團及其合營公司和聯營公司之管理層資料，或會變更並可能與本集 團按年度或半年度刊發的經審核或未經審核綜合財務報表所呈現的數字存在差異。這些資料不應 被視為本集團現時或將來的經營或財務表現的指標或測量依據。據此，本公告披露之資料僅供參 閱而不作其他目的。投資者在買賣本公司證券時務須小心謹慎，不可依賴前述已披露信息。投資 者如有任何疑問應向專業顧問徵求意見。 承董事會命 碧桂園控股有限公司 總裁兼執行董事 程光煜 COUNTRY GARDEN HOLDINGS COMPANY LIMITED 中國廣東省佛山市， 2026年1月5日 碧 桂 園 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2007） 於2025年12月份之未經審核營運數據 碧桂園控股有限公司（「本公司」）董事會（「董事會」）公佈，本公司及其附屬公司（「本集 團」），連同其合營公司和聯營公司於2 ...

Core Viewpoint - Country Garden Services (碧桂园服务) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1 - The company will spend HKD 4.941 million to repurchase 816,000 shares [1]

Group 1 - The company, Country Garden Services (06098.HK), announced a share buyback on January 2, 2026, costing HKD 4.941 million to repurchase 816,000 shares [1] - The buyback price ranged from HKD 6.02 to HKD 6.08 per share [1]

Core Insights - Wall Street's interest in domestic GPU companies is highlighted by the successful IPO of Birun Technology, which saw its stock price surge by 82.14% on its debut, reaching a market capitalization of over 80 billion HKD [1] - The company, founded in September 2019 by Zhang Wen, has attracted significant venture capital investment, totaling over 30 billion CNY across its funding rounds, marking a milestone in China's chip industry [1][2] - Birun Technology's journey reflects the challenges and opportunities within the domestic GPU sector, as it aims to compete with industry giants like NVIDIA [2][24] Company Overview - Birun Technology was established in 2019 and has since positioned itself as a key player in the GPU market, with a focus on developing high-performance chips [1][2] - The company has successfully completed multiple funding rounds, with significant contributions from notable investors such as Qiming Venture Partners and IDG Capital, which have helped it grow rapidly [3][4][11] - The firm aims to leverage its IPO proceeds to attract top talent and potentially pursue mergers and acquisitions to strengthen its market position [24] Funding and Valuation - Birun Technology's early funding rounds included a Pre-A round in December 2019, raising 15 million USD, and a Pre-A+ round in February 2020, raising 10 million USD, with valuations increasing from 110 million USD to 150 million USD [3][4] - By mid-2020, the company had raised approximately 2.9 billion CNY across four funding rounds, with a pre-IPO valuation soaring to 6.06 billion CNY [8][16] - The total amount raised by Birun Technology reached 9.32 billion CNY before its IPO, significantly outpacing its competitors in the domestic GPU space [16][24] Market Position and Challenges - Despite its rapid growth, Birun Technology's revenue figures for 2022 and 2023 were 499,000 CNY and 62.03 million CNY, respectively, indicating a slower growth trajectory compared to peers like Moore Threads and Muxi Technology [14][16] - The company faces substantial competition from NVIDIA, which reported a global revenue of 130.5 billion USD for the fiscal year 2025, dwarfing the combined revenue of Birun Technology and its competitors [24] - The ongoing challenge for domestic GPU manufacturers is to bridge the significant valuation and performance gaps with established industry leaders [24]