Core Viewpoint - Evergrande Property has resumed trading and experienced a significant price increase of over 38% following the announcement of potential share sales by its controlling shareholder, China Evergrande Group, and the liquidator of CEG Holdings [1][2]. Group 1: Company Developments - On September 11, Evergrande Property announced that the liquidator is actively seeking buyers for shares held by China Evergrande and CEG Holdings, with a plan to invite selected interested parties to submit final acquisition proposals by November 2025 [1]. - The liquidator has signed confidentiality agreements with potential buyers and received non-binding indicative offers from some interested parties as of September 9 [1]. - Despite the ongoing challenges, Evergrande Property reported a revenue of 6.647 billion yuan for the first half of 2025, reflecting a year-on-year growth of 6.9%, and a net profit of 491 million yuan with a net profit margin of 7.4% [2]. Group 2: Market Reactions - Following the announcement, Evergrande Property's stock price surged by over 29% as of the latest report [3]. - There are market rumors regarding potential interest from China Overseas and China Resources in acquiring Evergrande Property, although both companies have denied any concrete involvement at this stage [2].

Core Viewpoint - Evergrande Property's stock surged on its first trading day after a brief suspension, following the announcement of potential share sales by its liquidators [1][5]. Group 1: Company Developments - Evergrande Property received a letter from the liquidators of China Evergrande Group and CEG Holdings regarding the sale of shares [5]. - The liquidators are seeking opportunities to sell the 51.016% stake held by China Evergrande and CEG Holdings in Evergrande Property [5][8]. - The company remains under the control of Xu Jiayin until the liquidation process is completed, despite the ongoing liquidation of its parent companies [8]. Group 2: Financial Performance - For the first half of 2025, Evergrande Property reported revenue of approximately HK$66.47 billion, a year-on-year increase of 6.9%, and a net profit of HK$4.91 billion, with a net profit margin of 7.4% [10]. - The total managed area reached 596 million square meters, an increase of 41 million square meters year-on-year, with cash and cash equivalents amounting to approximately HK$27.78 billion [10]. Group 3: Challenges and Risks - Evergrande Property faces liquidity pressures, with trade receivables remaining high at approximately HK$58.83 billion, and a significant impairment loss of over HK$30 million, resulting in a high impairment rate of 51.7% [10]. - The company is also impacted by related party risks, with about 15 million square meters of contracted projects stalled, affecting brand trust and bargaining power [10][11]. - The chairman highlighted the need for a prolonged period to resolve related party risks amid macroeconomic challenges and increased market competition [11].

Core Viewpoint - Evergrande Property (06666.HK) has received a communication from the joint and individual liquidators of China Evergrande Group and CEG Holdings Limited regarding the potential sale of shares held by these entities in the company [1] Group 1 - The liquidators are seeking opportunities to sell shares of Evergrande Property held by China Evergrande and CEG Holdings [1] - A non-binding indicative offer has been received from some interested parties as of September 9, 2025, although negotiations have not yet commenced [1] - The liquidators plan to invite selected interested parties to submit final proposals by around November 2025 and will negotiate the terms of a binding transaction [1] Group 2 - The company has applied to the Stock Exchange for the resumption of trading of its shares starting from 9:00 AM on September 12, 2025 [1]

Core Viewpoint - Evergrande Property has received non-binding acquisition intentions from potential buyers, igniting market enthusiasm and leading to a significant increase in its stock price following the announcement [1][4]. Group 1: Acquisition Intentions - The liquidators of China Evergrande Group have been seeking opportunities to sell their shares in Evergrande Property, which account for approximately 51.016% of the issued share capital [4]. - The liquidators have signed confidentiality agreements with interested parties and received non-binding offers from some buyers as of September 9, 2025 [4]. - Potential buyers include China Overseas Group and subsidiaries of China Resources Group, although both companies have denied involvement in the acquisition [4][6]. Group 2: Financial Performance - In 2024, Evergrande Property reported an annual revenue of nearly 12.8 billion yuan, with a managed area of 579 million square meters, ranking fourth in the industry [4]. - The number of employees at Evergrande Property increased by 4%, and overall employee compensation rose by 7.3% during the same period [4]. Group 3: Historical Context - Evergrande Property has been involved in acquisition discussions since the liquidity crisis of China Evergrande began in 2021, with previous attempts to sell shares failing due to disagreements on key terms [6]. - In 2025, the liquidators hired UBS and CITIC Securities to find potential buyers for Evergrande Property's equity, marking a significant step in the sale process [6]. - The announcement of non-binding acquisition intentions in September 2025 indicates that the sale process is moving forward, with final proposals expected from interested parties by November [6]. Group 4: Market Reaction - Following the announcement of potential acquisition interest, Evergrande Property's stock price surged over 40% at one point, closing up 29.35% at 1.19 HKD, with a market capitalization of 12.865 billion HKD [1].

(本文来自第一财经) 恒大物业今日复牌，高开38.04%，公司称潜在交易还处于初步阶段，清盘人未与任何有意方进行谈 判。 ...

Group 1 - Evergrande Property announced a suspension of trading on September 11, 2023, due to receiving a letter from the liquidators of China Evergrande Group and CEG Holdings regarding the potential sale of shares [1] - The liquidators are seeking opportunities to sell shares of Evergrande Property and have signed confidentiality agreements with interested parties, having received non-binding indicative offers from some of them [1] - Trading of Evergrande Property shares is set to resume on September 12, 2023, after the announcement, with the stock price initially rising by over 30% during the trading session [1] Group 2 - In August 2023, it was reported that the liquidators of China Evergrande Group hired UBS and CITIC Securities to find potential buyers for Evergrande Property, with rumors of interest from subsidiaries of China Resources Group, which were denied by China Resources Land [3] - The property management sector is considered a stable "cash cow" business for real estate companies, and selling property management assets can help alleviate liquidity pressures [4] - Evergrande Property reported a revenue of approximately 6.647 billion yuan for the first half of 2025, a year-on-year increase of about 6.9%, with a net profit of approximately 491 million yuan [5]

Core Viewpoint - Evergrande Property has received a letter from the liquidators of China Evergrande Group and CEG Holdings regarding the potential sale of its shares, indicating ongoing efforts to find buyers for the company [1] Group 1: Company Developments - On September 10, 2025, Evergrande Property received a letter from the liquidators seeking opportunities to sell shares held by China Evergrande and CEG Holdings [1] - The liquidators have signed confidentiality agreements with interested parties and received non-binding indicative offers from some of them as of September 9 [1] - Evergrande Property's stock was suspended on September 11, 2025, and resumed trading on September 12, opening high and reaching a peak increase of 38% before closing with over a 30% gain [1] Group 2: Market Context - In August 2023, it was reported that the liquidators of China Evergrande Group hired UBS and CITIC Securities to find potential buyers for Evergrande Property, with rumors of interest from subsidiaries of China Resources Group, which were denied by China Resources Land [2] - Several real estate companies have been selling their property management stakes to alleviate financial pressures, with a recent example being the sale of property management business by Shui On Land for HKD 100 million [3] - Property management is viewed as a light-asset and stable cash-generating business, making it attractive for companies to sell in the current market environment [3] Group 3: Financial Performance - Evergrande Property reported a revenue of approximately CNY 6.647 billion for the first half of 2025, a year-on-year increase of about 6.9%, with a net profit of approximately CNY 491 million [4] - The net profit margin was approximately 7.4%, a decrease of about 0.6 percentage points year-on-year, with cash and cash equivalents amounting to approximately CNY 2.778 billion [4] - As of June 30, 2025, the total managed area was approximately 596 million square meters, an increase of about 41 million square meters from the previous year, although the conversion of signed projects from related parties is currently stalled [4]

Group 1 - Evergrande Property (06666.HK) resumed trading on September 12, opening over 38% higher and later experiencing a pullback, closing at 1.18 HKD, representing an increase of approximately 28.26%, with a total market capitalization of about 12.757 billion HKD [1] - The market's excitement is attributed to Evergrande Property finding potential buyers, as announced on September 11, when it received a letter from the liquidators of its controlling shareholder, China Evergrande, indicating efforts to sell shares held by China Evergrande and CEG Holdings [1] - Currently, China Evergrande and CEG Holdings directly or indirectly hold 51.016% of the issued share capital of Evergrande Property [1] Group 2 - Market rumors suggest that potential buyers include state-owned enterprises China Overseas and China Resources, although China Resources has denied the validity of this information, and China Overseas stated it is not aware of any related situation [1]

据接洽函，就上述出售事项，清盘人已与相关有意方订立保密协议，且于9月9日，清盘人已从其中部分的有意方收到不具约束力的指示性要约。但目前该交 易还处于初步阶段，清盘人未与任何有意方进行谈判。 在历经短暂停牌后，9月12日，恒大物业（06666.HK）复牌高开超38%。随后股价出现回调，截至发稿，报1.18港元，涨幅约28.26%，总市值约127.57亿港 元。 | HK$1.18 +0.26 +28.26% [飞寒时情 | | | 交易中 09–12 | | --- | --- | --- | --- | | 最高：1.29 | 今开： 1.27 | 成交量： 4.86亿股 | 换手： 4.50′ | | 最低： 1.08 | 昨收： 0.92 | 成交额： 5.60亿 | 振幅： 22.8′ | | 52周最高: 1.31 | 量比： 46.32 | 市盈率(动)： 12.33 | 市盈率(TTM | | 52周最低：0.63 | 委比： 57.98% | 市盈率(静)： 11.75 | 市净率： 11 | | 每股收益：0.10 | 股息(TTM)： -- | 总股本： 108.11亿 | 总市值: 12 ...

Core Viewpoint - Evergrande Property has resumed trading and experienced a significant price increase following the announcement of potential share sales by its controlling shareholder, China Evergrande Group, and the liquidator of CEG Holdings [2][3][4]. Group 1: Company Announcement - On September 11, Evergrande Property announced that its controlling shareholder and the liquidator are actively seeking to sell shares [2]. - The liquidator has confirmed that they are in discussions with potential buyers and has signed non-disclosure agreements with interested parties [4]. - The liquidator plans to invite selected interested parties to submit final acquisition proposals by November 2025 [5]. Group 2: Market Reactions and Rumors - There have been market rumors regarding potential acquisitions by China Overseas Land & Investment (中海) and China Resources (华润), with a deposit requirement of 6 million HKD for the transaction [8]. - However, both China Resources and China Overseas have denied these rumors, stating that they do not have specific information regarding the situation [9]. Group 3: Financial Performance - According to the semi-annual report, Evergrande Property reported a revenue of 6.647 billion CNY for the first half of 2025, representing a year-on-year increase of 6.9%, with a net profit of 491 million CNY and a net profit margin of 7.4% [10]. - The total managed area reached 596 million square meters, an increase of 41 million square meters compared to the same period last year [10]. - Despite operational adjustments to reduce liquidity pressure, the company remains in a net current liability position, indicating ongoing cash flow challenges [11].