Core Viewpoint - Country Garden Services (06098) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1 - The company will spend HKD 2.514 million to repurchase 391,000 shares [1]

Core Viewpoint - Country Garden Services (06098.HK) announced a share buyback on September 2, 2025, spending HKD 2.5141 million to repurchase 391,000 shares at a price of HKD 6.43 per share [1] Group 1 - The total expenditure for the share buyback is HKD 2.5141 million [1] - The number of shares repurchased is 391,000 [1] - The buyback price per share is HKD 6.43 [1]

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 2.514 million to repurchase 391,000 shares [1]

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8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) FF301 呈交日期: 2025年9月2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 | | 10,00 ...

公司公布1H25 业绩：收入232 亿元，同比增长10%；归母净利润10 亿元，同比下降31%；核心归母净 利润15.7 亿元，同比下降15%，符合我们预期。公司未宣派中期股息。 收入在基础业务支持下实现平稳增长。不含三供一业口径，公司在管面积同比增长6%至10.6 亿平方 米，带动占总收入约六成的物业管理服务收入同比增长7%；此外，收入亦有相对明显贡献的三供一业 板块收入同比增长52%，二者共同推动总收入平稳增长。 利润率呈现一定压力。除非业主增值服务收入外，公司多项业务板块毛利率呈现不同程度的同比下降。 其中，大物管板块的盈利能力下降可归因于： 新拓展项目毛利率低于现有存量、部分存量高毛利项目逐步回归行业平均、公司针对部分问题项目阶段 性增加投入、增值业务的结构变化与前期发展投入需要等。 机构：中金公司 研究员：王翼羽/程坚/张宇 1H25 业绩符合我们预期 发展趋势 业务发展或仍承受内外部压力和扰动，股东回馈取态积极。综合考虑当前的宏观经济环境背景及公司在 管资产组合结构，我们认为其大物业板块的经营仍将面临一定压力和挑战，而公司的精细化管理举措则 有望一定程度上对冲外部环境影响，使得核心业务维持相对的稳 ...

Core Insights -碧桂园服务 achieved a revenue of 23.2 billion yuan in H1 2025, representing a year-on-year growth of 10.2%, while core net profit attributable to shareholders decreased by 14.8% to 1.57 billion yuan [1][2] Group 1: Business Performance - Core businesses showed positive year-on-year growth, with property management, "three supplies and one industry," and community value-added services generating revenues of 13.6 billion, 5.1 billion, and 2.1 billion yuan respectively, reflecting growth rates of 6.7%, 51.6%, and 5.3% [1][2] - The combined revenue from the three main businesses accounted for 89.6% of total revenue, an increase of 3.6 percentage points year-on-year, while their combined gross profit margin rose to 92.9%, up 3.1 percentage points [1][2] Group 2: Expansion and Market Position - The company maintained its industry-leading position with a managed area of 1.06 billion square meters (excluding "three supplies and one industry") and signed new third-party contracts covering 6.477 million square meters, a year-on-year increase of 66% [2] - The "three supplies and one industry" segment signed 315 new projects with a total contract value of 1.79 billion yuan, indicating strong growth potential in this specialized area [2] Group 3: Profitability and Shareholder Returns - Gross margins for basic property management, "three supplies and one industry," and community value-added services were 21.8%, 7.7%, and 30.4% respectively, showing declines of 1.1, 1.2, and 8.6 percentage points year-on-year [2] - The company committed to distributing 60% of core net profit attributable to shareholders as dividends in 2025 and plans to enhance shareholder returns through share buybacks and other measures [3]

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。 COUNTRY GARDEN HOLDINGS COMPANY LIMITED 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） 海外監管公告 本海外監管公告乃由碧桂園控股有限公司（「本公司」）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。 謹請參閱隨附本公司在中華人民共和國上海證券交易所（「上交所」）網頁登載之《碧 桂園控股有限公司關於公司重大事項的公告》（債券代碼：135797）。 另外，亦請參閱隨附本公司之附屬公司碧桂園地產集團有限公司及騰越建築科技集 團有限公司在上交所網站和╱或中華人民共和國深圳證券交易所網站登載之文件： – 1 – 1. 《碧桂園地產集團有限公司關於公司重大事項的公告》（債券代碼：163015、 175214、175366、149407、149509、149632、149748、102282094及 1 ...

Core Viewpoint - Country Garden Holdings Company Limited reported a significant net loss of approximately 19.65 billion yuan for the first half of 2025, primarily due to a decline in project settlement scale and increased asset impairment amid industry adjustments [1][2]. Financial Performance - The company achieved a total revenue of approximately 72.57 billion yuan in the first half of 2025, with major contributions from real estate development (70.03 billion yuan) and technology construction (2.54 billion yuan) [2]. - As of mid-2025, Country Garden's total assets were approximately 909.3 billion yuan, exceeding total liabilities, which included contract liabilities of about 222 billion yuan [2]. Debt Restructuring Progress - Country Garden has made significant progress in its offshore debt restructuring, with over 77% of the holders of existing public notes agreeing to the restructuring plan as of August 18 [4]. - The restructuring is expected to reduce the debt scale by approximately 11.7 billion USD, corresponding to about 84 billion yuan of interest-bearing debt, significantly lowering the company's financial burden [4]. - The new debt financing costs are projected to decrease to between 1.0% and 2.5%, enhancing cash flow management [4]. Delivery and Operational Strategy - The company has delivered over 1.7 million housing units in the past three years, with more than 70,000 units delivered in the first half of 2025, maintaining a leading position in third-party rankings [3]. - Country Garden has raised over 65 billion yuan through asset disposals since 2022, including the sale of a stake in Blue Arrow Aerospace for approximately 1.305 billion yuan [3]. - The company aims to continue its focus on "guaranteeing delivery" while optimizing resource utilization and responding to government support policies [5].

Core Viewpoint - Country Garden reported a significant net loss of approximately 19.65 billion yuan in the first half of 2025, attributed to a decline in project settlement scale, low gross margins, and increased asset impairment in property projects [1] Group 1: Financial Performance - In the first half of 2025, Country Garden achieved revenue of about 72.57 billion yuan, with total assets around 909.33 billion yuan, exceeding total liabilities [1] - The company expects gradual recovery in profitability due to ongoing debt management efforts and an improving industry environment [1] Group 2: Debt Restructuring - As of August 18, over 77% of holders of existing public notes have joined the restructuring agreement, with a coordination committee representing 49% of the principal of syndicated loans signing a support agreement [1] - The restructuring plan includes five options, with an expected debt reduction of approximately 11.7 billion USD, corresponding to about 84 billion yuan of interest-bearing debt, significantly lowering the debt burden [1] - Successful completion of the debt restructuring is anticipated to yield substantial restructuring gains, potentially increasing net assets by up to 70 billion yuan [1] Group 3: Industry Context - As of August 2025, 20 distressed real estate companies have received approval for debt restructuring or reorganization plans, with a total debt resolution scale exceeding 1.2 trillion yuan [2] - Country Garden aims to ensure project delivery and stabilize operations by focusing on "guaranteeing delivery, stabilizing finances, and ensuring operations" [2] - The company has delivered approximately 74,000 housing units in the first half of 2025, with over 1.7 million units delivered in the past three years [2] Group 4: Strategic Initiatives - Country Garden is actively working on cost reduction and efficiency improvement, having recovered over 65 billion yuan through asset disposals since 2022 [2] - The company has been included in the Hang Seng Composite Index, indicating a milestone in meeting Hong Kong Stock Connect thresholds and signaling improved market confidence and liquidity [2]

Core Viewpoint - Country Garden reported a significant net loss of approximately 196.5 billion yuan in the first half of 2025, primarily due to a decline in project settlement scale and increased asset impairment [2][3]. Financial Performance - In the first half of 2025, Country Garden achieved an operating revenue of approximately 72.57 billion yuan, with equity contract sales amounting to about 16.75 billion yuan [2][3]. - The total assets of Country Garden were approximately 909.3 billion yuan, exceeding total liabilities, with net assets around 23.9 billion yuan [2][3]. - The company delivered approximately 74,000 housing units during the period, maintaining its position as the industry leader in delivery volume [3]. Asset Management - Since 2022, Country Garden has recovered over 65 billion yuan through asset disposals, including the sale of equity stakes in various projects [4]. - The company has successfully reduced the rigid funding demand for housing delivery, indicating a potential easing of overall financial pressure [4]. Debt Restructuring - Country Garden is progressing with its offshore debt restructuring, with over 77% of existing noteholders participating in the restructuring agreement [5]. - The expected debt reduction from the restructuring is approximately 117 billion USD, equivalent to about 84 billion yuan, significantly lowering interest-bearing debt [5]. - Post-restructuring, the new debt financing cost is anticipated to decrease to 1.0%-2.5%, alleviating cash flow pressure [5]. Strategic Focus - The company aims to focus on "ensuring housing delivery, stabilizing assets and debts, and maintaining operations" as part of its strategic objectives [6]. - The "ensuring housing delivery" initiative is prioritized as the immediate operational goal, while "stabilizing assets and debts" is a medium to long-term objective [6]. - Country Garden's strategic plan includes leveraging its core real estate development business alongside technology construction and management services to drive transformation [6][7].