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9月30日 狀態: 新提交 本月底法定/註冊股本總額： USD 10,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 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: 2025年10月8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 ...

Financial Performance - The company achieved a revenue of approximately RMB 6,646.6 million for the six months ending June 30, 2025, representing a year-on-year growth of about 6.9%[7] - Net profit reached approximately RMB 491.2 million, with a net margin of about 7.4%, down by approximately 0.6 percentage points year-on-year[7] - Gross profit was approximately RMB 1,198.7 million, with a gross margin of about 18.0%, a decrease of approximately 2.2 percentage points year-on-year[7] - The group reported revenue of RMB 6,646,590,000 for the six months ended June 30, 2025, an increase of 6.8% compared to RMB 6,220,192,000 in the same period of 2024[78] - Gross profit for the same period was RMB 1,198,689,000, down 4.6% from RMB 1,256,091,000 year-over-year[78] - The group recorded a net profit of RMB 491,155,000 for the six months ended June 30, 2025, compared to RMB 499,828,000 in the previous year, reflecting a decrease of 1.3%[78] Revenue Breakdown - Property management services revenue was approximately RMB 5,627.8 million, with a year-on-year increase of about 8.4%, primarily due to an increase in managed area[16] - Community living services revenue was approximately RMB 456.2 million, reflecting a year-on-year growth of about 6.7% due to expanded service offerings[18] - Asset management services revenue decreased by approximately 1.8% to RMB 398.9 million, mainly due to a reduction in available rental parking spaces[19] - Community operation services revenue fell by approximately 15.0% to RMB 163.7 million, impacted by decreased demand for advertising and venue rentals[20] Assets and Liabilities - Trade receivables stood at approximately RMB 5,883.2 million, with a cumulative provision for bad debts of about RMB 3,041.7 million, resulting in a high impairment rate of 51.7%[9] - As of June 30, 2025, the company's total assets were RMB 8,546,361,000, a decrease from RMB 8,710,343,000 as of December 31, 2024[79] - Current liabilities were approximately RMB 518,466,000 as of June 30, 2025, down from RMB 968,619,000 as of December 31, 2024, indicating improved liquidity[75] - Total liabilities decreased from RMB 7,733,169 thousand as of December 31, 2024, to RMB 7,102,201 thousand as of June 30, 2025, representing a reduction of approximately 8.2%[80] Cash Flow and Liquidity - Cash and cash equivalents totaled approximately RMB 2,904.9 million as of June 30, 2025, an increase of about RMB 70.0 million from RMB 2,834.9 million as of December 31, 2024[36] - The group is implementing various measures to improve liquidity amid significant uncertainties regarding its ability to continue as a going concern[75] - Net cash flow from operating activities for the six months ended June 30, 2025, was RMB (326,243) thousand, compared to RMB 95,924 thousand for the same period in 2024, indicating a significant decrease[84] Cost Management - Administrative and marketing expenses decreased by approximately 11.4% to RMB 460.4 million, attributed to cost control measures[24] - Financial costs rose to RMB 41,066,000, compared to RMB 34,945,000 in 2024, driven by increased other financial costs[110] - The company has engaged with creditors to negotiate repayment plans and has implemented cost control measures to improve financial conditions[89] Compliance and Governance - The company has adopted the Corporate Governance Code and complied with all applicable provisions during the reporting period[66] - The company has confirmed compliance with the Securities Trading Standard Code by all directors during the six months ending June 30, 2025[67] Employee and Management - The group employs 98,516 staff and has provided a total of 365,000 training hours during the reporting period, averaging 3.7 hours per employee[46][48] - The total compensation for key management personnel increased to RMB 7,384 thousand for the six months ended June 30, 2025, from RMB 5,546 thousand in the same period of 2024[142] Shareholder Information - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2025[61] - No interim dividend is proposed for the six months ending June 30, 2025, consistent with the previous period[70] - As of June 30, 2025, Mr. Xu Jiayin holds 5,590,229,000 shares, representing 51.71% of the total issued shares[60]

Core Viewpoint - Evergrande Property's stock has seen a significant increase, with a rise of over 6% and currently trading at 1.18 HKD, with a transaction volume of 64.0493 million HKD. This surge is linked to the announcement regarding the potential sale of a 51.016% stake held by China Evergrande and CGE Holdings [1]. Group 1 - The liquidator of China Evergrande plans to sell the 51.016% stake in Evergrande Property, having received non-binding indicative offers from interested parties [1]. - Major companies such as China Resources and China Overseas have denied rumors of acquiring the stake [1]. - The liquidator is expected to invite interested parties for negotiations and finalize transaction documents around November, revealing the identity of the new owner [1]. Group 2 - Evergrande Property has been actively seeking to distance itself from its parent company, Evergrande Group, as evidenced by its rebranding to "Jinbi Property Services" in November 2023, signaling a move towards independent operations [1]. - Currently, China Evergrande and CGE Holdings remain the controlling shareholders of Evergrande Property, holding 51% of its issued share capital [1].

Core Viewpoint - Evergrande Property has seen a significant increase in its stock price, rising over 6% and currently trading at 1.18 HKD, with a transaction volume of 64.0493 million HKD, amid news of potential stake sales by its parent company [1] Group 1: Company Developments - The liquidator of China Evergrande plans to sell a total of 51.016% stake held by China Evergrande and CGE Holdings in Evergrande Property, having received non-binding indicative offers from interested parties [1] - Major companies such as China Resources and China Overseas have denied rumors of acquiring the stake [1] - The liquidator is expected to invite interested parties for negotiations and finalize transaction documents around November, revealing the identity of the new owner [1] Group 2: Strategic Moves - Evergrande Property has been actively seeking to distance itself from its parent company, China Evergrande Group, as evidenced by its official WeChat account being renamed to "Jinbi Property Services" in November 2023, signaling a move towards independent operations [1] - Currently, China Evergrande and CGE Holdings remain the controlling shareholders of Evergrande Property, holding 51% of its issued share capital [1]

Core Viewpoint - Evergrande Property's shares have seen a significant increase, with a rise of over 7% in late trading, currently up 5.71% at HKD 1.11, with a trading volume of HKD 118 million. This surge is linked to the announcement regarding potential share sales by the liquidators of its controlling shareholder, China Evergrande Group, indicating a move towards a substantial transaction [1]. Group 1 - Evergrande Property has received a letter from the liquidators of its controlling shareholder, China Evergrande Group, who are actively seeking opportunities to sell shares of Evergrande Property [1]. - The potential transaction is in the preliminary stages, with a confidentiality agreement signed and non-binding indicative offers received from interested parties [1]. - The liquidators plan to invite selected interested parties to reach binding transaction terms by November 2025, suggesting that the transaction is moving towards a more concrete phase [1]. Group 2 - Evergrande Property has been attempting to distance itself from its parent company, China Evergrande Group, as evidenced by the rebranding of its official WeChat account to "Jinbi Property Services" in November 2023, which was interpreted as a signal of its move towards independent operations [1]. - Currently, China Evergrande and CEG Holdings remain the controlling shareholders of Evergrande Property, holding 51% of its issued share capital [1].

Core Viewpoint - Evergrande Property has seen a significant stock price increase, with a rise of over 7% at the close and currently trading at 1.11 HKD, indicating strong market interest following news of potential share sales by its controlling shareholder [1] Group 1: Company Developments - Evergrande Property has received a letter from the liquidator of its controlling shareholder, China Evergrande Group, regarding the potential sale of shares, which is currently in the preliminary stage [1] - The liquidator has signed a confidentiality agreement and received non-binding indicative offers from several interested parties, suggesting that the transaction is moving towards a more concrete phase [1] - The liquidator aims to invite selected interested parties to reach binding transaction terms by November 2025 [1] Group 2: Strategic Moves - Evergrande Property has been actively seeking to distance itself from its parent company, China Evergrande Group, as evidenced by its rebranding to "Jinbi Property Services" in November 2023, signaling a move towards independent operations [1] - Currently, China Evergrande and CEG Holdings remain the controlling shareholders of Evergrande Property, holding 51% of its issued share capital [1]

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].