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2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 恒大物業集團有限公司 ("本公司") 呈交日期: 2026年3月5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) | 06666 | 說明 | | | | | | | | | 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 | USD | | 0.0001 USD | | 10,000,000 | | 增加 / 減少 (-) | | 0 | | | USD | | 0 | | 本月底結存 | | 100,000,000,000 | USD | | 0.0001 USD | | 10,000,000 | 本月底法定/註冊股本總額： USD 10,000,0 ...

Group 1 - The core point of the article is that Evergrande Property (06666.HK) experienced a significant increase in stock price, rising over 5% in late trading on February 10, reaching HKD 1.18 per share [1] - The trading volume for Evergrande Property was reported at HKD 24.63 million [1]

Core Viewpoint - Evergrande Property (06666) experienced a significant increase in stock price, rising by 5.36% to HKD 1.18, with a trading volume of HKD 24.63 million [1] Group 1: Company Announcement - On February 6, Evergrande Property announced that its liquidators have received updated offer proposals from several selected bidders, which are currently under review [1] - The announcement did not disclose the identities of the bidders, the bid amounts, or the scope of assets involved, but indicated that the liquidators will continue to advance the potential sale process [1] Group 2: Market Speculation - Recent market rumors suggest that potential buyers for Evergrande Property may include TPG Capital, Guangdong Tourism Group Co., Ltd., and Xincheng Capital, a subsidiary of CITIC Capital [1] - As of now, none of the mentioned parties have provided a clear response regarding their interest in the acquisition [1]

Core Viewpoint - Evergrande Property's stock rose over 5% in late trading, reaching HKD 1.18 with a trading volume of HKD 24.63 million, following the announcement of potential bids for the company [1] Group 1: Company Announcement - On February 6, Evergrande Property announced that its liquidators have received updated bid proposals from several selected bidders, which are currently under review [1] - The announcement did not disclose the identities of the bidders, the bid amounts, or the scope of assets involved, but indicated that the liquidators will continue to advance the potential sale process [1] Group 2: Market Speculation - Recent market rumors suggest that potential buyers for Evergrande Property may include TPG Capital, Guangdong Tourism Group, and Xincheng Capital, a subsidiary of CITIC Capital [1] - As of now, none of the mentioned parties have provided a clear response regarding their interest in acquiring Evergrande Property [1]

Core Viewpoint - The fate of Evergrande Property is closely tied to the ongoing liquidation of its parent company, China Evergrande Group, with significant implications for its investors and the broader market [3][17][25]. Company History - Evergrande Property was established in 1996 and became a major player in the property management sector, officially listing on the Hong Kong Stock Exchange in December 2020 with an initial market capitalization of 949 million HKD [5][32]. - The company experienced rapid growth, with revenues increasing from 4.399 billion CNY in 2017 to 73.33 billion CNY in mid-2020, and its stock peaked at 19.74 HKD in February 2021, valuing the company at over 200 billion HKD [6][32]. Financial Challenges - In March 2022, Evergrande Property discovered that approximately 13.4 billion CNY in deposits had been pledged as guarantees for third-party financing, leading to significant financial strain [7][34]. - The company's net profit fell by 34% to 10.32 billion CNY in 2024, with a decline in gross margin from 24.9% to 19.2% and net margin from 12.5% to 8.1% [12][13]. - Despite a revenue increase of 2.2% to 12.757 billion CNY in 2024, the company faced a significant drop in profitability due to non-operating expenses related to the deposit incident and rising operational costs [12][14]. Operational Resilience - Evergrande Property has shown unexpected resilience, with a managed area of 5.79 billion square meters and a cash position of 2.697 billion CNY, reflecting a year-on-year increase of 11.1% [12][40]. - The company has successfully reduced its reliance on related party revenues, with only 0.31% of income coming from related parties in the first half of 2025, indicating a shift towards independent operations [16][41]. Liquidation and Sale Process - Following the liquidation of China Evergrande, Evergrande Property's 51.016% stake is considered a valuable asset, and the sale process has entered a substantive negotiation phase [42][43]. - Potential buyers include PAG, Guangdong Tourism Group, and Xincheng Capital, with the estimated value of the stake being around 6.4 billion HKD, though actual transaction prices may exceed this due to control premiums [44][45]. Future Outlook - The company is attempting to rebrand and detach from the negative associations with its parent company, aiming for a more independent market presence [22][46]. - The ongoing challenges include recovering receivables from related parties and addressing liquidity pressures, with net current liabilities reported at approximately 968 million CNY as of the end of 2024 [48].

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之內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何 責任。 Evergrande Property Services Group Limited 恒大物業集團有限公司 （於開曼群島註冊成立的有限責任公司） （股份代號：6666） 根據收購守則第 3.7 條作出的 每月進展更新公告 本公告由恒大物業集團有限公司（「本公司」）根據《公司收購及合併守則》（「收購守則」）第3.7條 作出。 茲提述本公司根據收購守則第3.7條作出的日期為2025年9月11日、2025年10月15日、2025 年11月14日、2025年12月19日及2026年1月13日的公告（「該等公告」）。除另有所指外，本 公告所用詞彙與該等公告所界定者具有相同涵義。 本公司董事（「董事」）會（「董事會」）謹此向本公司股東及潛在投資者提供最新進展：本公司獲 清盤人告知，於本公告日期，(i)清盤人已接獲若干選定的投標人提交的經更新的要約方案， 且清盤人正考慮該等方案；(ii)清盤人無意考慮任何新的非約束性意 ...

Core Insights - The key development in the China Evergrande Group liquidation case is the interest expressed by PAG and Guangdong Tourism Holdings in acquiring a controlling stake of 51.016% in Evergrande Property Group, which would grant them actual control over the company [2][14][19]. Group 1: Acquisition Details - The sale of Evergrande Property's shares began in September 2025, with the liquidation administrators actively seeking buyers for the 51.016% stake [15][17]. - The timeline indicates a sense of urgency from the liquidators, as they aim to finalize the sale process to repay creditors following the court-ordered liquidation on January 29, 2024 [3][18]. Group 2: Financial Overview - As of February 5, 2026, Evergrande Property's market capitalization is approximately HKD 12.216 billion, a decline of over 90% from its peak of HKD 206.471 billion [21]. - Despite the parent company's debt crisis, Evergrande Property reported a revenue of approximately HKD 12.757 billion for 2024, reflecting a year-on-year growth of about 2.2% [26]. Group 3: Potential Buyers - PAG, a prominent private equity firm managing over USD 55 billion, is seen as a leading contender for the acquisition, with a history of investing in distressed assets [22]. - Guangdong Tourism Holdings, a state-owned enterprise with total assets of HKD 14.1 billion and a focus on tourism, is also a potential buyer, which may bring social responsibility considerations into the acquisition [23]. Group 4: Operational Performance - Evergrande Property maintains a relatively independent operational capacity, with a managed area of approximately 579 million square meters, indicating its ability to generate stable cash flow despite challenges [26][27]. - The company has shown growth in its third-party project signings, with over 47 million square meters contracted in 2024, highlighting its market expansion capabilities [26]. Group 5: Valuation Challenges - Evergrande Property faces valuation pressures due to the spillover effects of its parent company's credit risks and governance issues stemming from a significant deposit incident [27]. - The primary post-acquisition focus for PAG or Guangdong Tourism Holdings will be to sever ties with China Evergrande to restore market confidence and enhance operational efficiency through digital transformation and service upgrades [27].

公司名稱: 恒大物業集團有限公司 ("本公司") 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 呈交日期: 2026年2月5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) | 06666 | 說明 | | | | | | | | | | | 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 | USD | | 0.0001 | USD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | 0 | | 本月底結存 | | | 100,000,000,000 | USD | | 0.0001 | USD | | 10, ...

Core Viewpoint - The potential buyers for Evergrande Property have emerged, with interest from TPG Capital and Guangdong Tourism Holdings, as the liquidation process for China Evergrande progresses [3][15][17]. Group 1: Potential Buyers - TPG Capital and Guangdong Tourism Holdings have engaged with the liquidators of China Evergrande regarding the acquisition of Evergrande Property's shares [3][15]. - CITIC Capital's subsidiary, Xincheng Capital, is also rumored to be a potential bidder for Evergrande Property [3][16]. - TPG Capital manages over $55 billion in assets and has a history of significant investments in the real estate sector, including multiple rounds of investment in Zhuhai Wanda Commercial Management [8][20]. Group 2: Due Diligence and Offers - The liquidators have initiated due diligence with selected bidders and have requested updated proposals by the end of January [4][6]. - The liquidators have stated that they will not consider any new non-binding offers, indicating satisfaction with the current proposals [6][23]. - As of January 2026, the liquidators have not disclosed the number of bidders or their respective offers for Evergrande Property [11][23]. Group 3: Financial Performance - Evergrande Property reported revenues of approximately 6.647 billion yuan for the first half of 2025, a year-on-year increase of 6.9%, with a net profit of about 472 million yuan, a decrease of 6% [9][22]. - Guangdong Tourism Holdings, while a major player in the tourism sector, has a smaller scale in property management, with 2024 revenues of approximately 12.229 million yuan and a net profit of 779,700 yuan [9][22]. - As of September 2025, Guangdong Tourism Holdings had total assets of about 14.7 billion yuan and cash equivalents of approximately 2.03 billion yuan [9][22].

Group 1 - Evergrande Property experienced a significant decline, dropping over 9% at one point and closing down 7.87% at HKD 1.17 [1] - The trading volume for Evergrande Property reached HKD 75.93 million [1]