(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].

恒大物业(6666.HK)复牌盘初一度飙升40%报1.29港元，目前涨幅收窄至24%报1.14港元；截至目前成交 额放大至5.3亿港元。消息面上，恒大物业收到控股股东中国恒大的清盘人通知，就寻求出售恒大在该 公司的持股，已与相关有意方订立保密协议。 恒大物业昨晚刊发公告称，已于周三(10日)收到控股股东中国恒大的清盘人发出的接洽函，表明正积极 为其持有的51.016%恒大物业股权寻找买家，清盘人亦已就潜在交易与多个有意方签订保密协议，并已 在9月9日从部分财团手中，收到不具约束力的指示性要约。 根据清盘人计划，拟于今年11月前后，邀请经挑选的有意方提交最终建议书，并就交易条款进行磋商， 以期达成具约束力的协议。 彭博昨日引述知情人士透露，恒大清盘人已收到对恒大物业的非约束性报价，据报包括中国海外集团及 华润集团等国企均有表达竞投意向。 ...

Market Performance - On September 12, the Shanghai Composite Index (沪指) broke through the previous high of 3888.60, reaching a new peak of 3889.58, with significant gains in sectors such as semiconductors, memory chips, and robotics [1] - The index opened at 3875.31 and closed at 3879.06, with a trading volume of 286.87 billion and a turnover of 17 billion [2] Company Performance - Evergrande Property (恒大物业) resumed trading and saw its stock price surge nearly 40% at one point, closing up 19.57% at 1.1 HKD, giving it a market capitalization of 11.9 billion HKD [2][3] - The company reported a revenue of approximately 6.647 billion CNY for the first half of 2025, a year-on-year increase of about 6.9%, with a net profit of approximately 491 million CNY and a net profit margin of 7.4%, down by 0.6 percentage points year-on-year [4] - As of June 30, 2025, Evergrande Property managed a total area of approximately 596 million square meters, an increase of about 41 million square meters compared to the same date in 2024 [4] Company Overview - Evergrande Property Group Co., Ltd. is primarily engaged in property management services, community life services, asset management services, and community operation services [5] - The company’s main revenue sources include property management services (84.43%), community value-added services (6.86%), and asset management business [6]

Core Viewpoint - The Shanghai Composite Index reached a new high of 3889.58 on September 12, driven by strong performances in sectors such as semiconductors, memory chips, and robotics [1][2]. Market Performance - The Shanghai Composite Index opened at 3875.51 and closed at 3879.06, with a trading volume of 286.87 billion [2]. - The index saw a maximum price of 3889.13 and a minimum of 3874.60 during the trading session [2]. - The market showed a slight increase of 0.10% from the previous close [2]. Company Specifics: Evergrande Property - Evergrande Property (06666.HK) resumed trading and initially surged nearly 40%, closing with a gain of 19.57% at 1.1 HKD, giving it a market capitalization of 11.9 billion HKD [2][3]. - The company reported a revenue of approximately 6.647 billion CNY for the first half of 2025, reflecting a year-on-year growth of about 6.9% [4]. - Net profit for the same period was approximately 491 million CNY, with a net profit margin of 7.4%, a decrease of about 0.6 percentage points year-on-year [4]. - As of June 30, 2025, Evergrande Property managed a total area of approximately 596 million square meters, an increase of about 41 million square meters compared to the previous year [4]. Ownership and Control - The current actual controller of Evergrande Property remains Xu Jiayin, with CEG Holdings (BVI) Limited being the largest shareholder, holding 49.79% of the shares [5].

Core Viewpoint - Evergrande Property's stock resumed trading on September 12, following a notice received from the liquidators of China Evergrande Group and CEG Holdings regarding potential share sales [1] Group 1 - On September 10, Evergrande Property received a communication from the liquidators seeking opportunities to sell shares held by China Evergrande and CEG Holdings [1] - Market rumors suggest that the liquidators have received non-binding acquisition intentions for Evergrande Property, with bidders including China Overseas Group and a subsidiary of China Resources Group [1] - A representative from China Resources Land stated that the rumors regarding the acquisition are not true [1]