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，概不對任何就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責任。 China Jinmao Holdings Group Limited 中國金茂控股集團有限公 司 （於香港註冊成立的有限公司） （股票代號：00817） 誠如該公告所披露，一份當中載有關於補充協議二及經續期平安金融服務框架協 議的詳情、獨立董事委員會函件、獨立財務顧問函件的通函（「通函」），連同股東 特別大會通告將於該公告刊發後15個營業日內（即2025年10月22日或以前）寄發。 由於需要更多時間落實將載入通函的若干資料，通函的寄發日期將延後至不遲於 2025年11月4日。 承董事會命 中國金茂控股集團有限公司 主席 陶天海 香港，2025年10月23日 於本公告日期，本公司董事為執行董事陶天海先生（主席）、張輝先生及喬曉潔女 士；非執行董事崔焱先生、劉文先生、陳一江先生及王葳女士；以及獨立非執行 董事劉峰先生、孫文德先生、高世斌先生及鍾偉先生。 延遲寄發通函 茲提述中國金茂控股集團有限公司（「本 ...

Investment Rating - The report assigns a "Buy" rating for China Jinmao [11] Core Insights - China Jinmao is a state-owned enterprise focused on high-quality residential development, benefiting from strong support from its major shareholder, Sinochem Group, and internal management reforms [3][7] - The company has entered a new development phase, with significant improvements in sales performance, achieving a total sales amount of 807 billion yuan in Q1-Q3 2025, a year-on-year increase of 27%, marking its first entry into the top ten sales rankings [7][28] - The company aims to resolve 80% of its historical issues within three years, with a new product line "Jin Yu Man Tang" receiving positive market feedback [3][10] Overview - China Jinmao is a central enterprise urban operator under Sinochem Group, focusing on high-quality real estate development. The company has historically acquired land at low costs through differentiated models, creating a competitive edge with its "technology residential" products [7][16] - In 2024, Sinochem Group provided perpetual bonds and shareholder loans to support the company, helping it navigate through difficulties [7][21] - The company has seen a significant improvement in its operational performance, with a comprehensive gross profit margin of 16.2% in H1 2025, up 1.6 percentage points from 2024 [7][30] Resource Management - The company has significantly improved its land acquisition strategy, with a land acquisition intensity of 65% in Q1-Q3 2025, ranking among the top enterprises in the industry [8][46] - The focus on major cities has increased, with over 80% of new land acquisitions being small-scale projects, reflecting a more cautious risk appetite [8][46] - As of mid-2025, the company has an unsold inventory value of approximately 320 billion yuan, with about 30% located in first-tier cities [8][46] Efficiency and Operations - The launch of the new product line "Jin Yu Man Tang" has received favorable market reception, with multiple projects achieving strong sales performance [9][27] - The company aims to enhance operational efficiency and reduce costs, with a significant decrease in financing costs to 3.0% in H1 2025, down 1.1 percentage points year-on-year [9][10] Investment Strategy - The report emphasizes the importance of managing existing burdens while creating value through new land acquisitions. The company is expected to gradually improve its profitability, with projected net profits of 7.3 billion, 10.9 billion, and 16.7 billion yuan for 2025, 2026, and 2027, respectively [10][30]

1、2025 年9 月，公司取得签约销售金额98.0 亿元，签约销售建筑面积49.3万平方米。2025 年1-9 月， 公司取得签约销售金额806.9 亿元，签约销售建筑面积367.5 万平方米（均未计入物业租金收入）。 2、截至2025 年9 月30 日，公司已认购（未签约）销售金额共计6.4 亿元。 点评：品牌价值引领发展，销售表现持续亮眼，期间费率下降明显品牌价值引领发展：中国金茂连续21 年入选"中国500 最具价值品牌"，展现稳定品牌号召力。2025 年，金茂以742 亿元的品牌价值再次入 榜，位列第170 位，品牌价值较去年提升近80 亿，排名上升一位。公司始终以品质初心引领"好房子"建 设，通过"金玉满堂"系列产品的精彩呈现，在当前房地产行业销售整体下行的背景下，通过品质升级驱 动，走出独立行情。 销售表现持续亮眼：品牌价值赋能叠加经营效率提升，公司近期销售表现持续亮眼。边际来看，2025 年7 月/8 月/9 月，公司单月签约销售金额分别为84.6/90.8/98.0 亿元，单月同比分别为 机构：光大证券 研究员：何缅南 事件：公司发布2025 年9 月未经审核销售数据。 期间费率下降明显：公 ...

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Insights - The company has demonstrated strong sales performance, achieving a signed sales amount of 98.0 billion yuan in September 2025, with a total of 806.9 billion yuan for the first nine months of 2025, reflecting a year-on-year increase of 27.3% [1][3] - The brand value of the company has been a significant driver of its development, with a brand value of 742 billion yuan in 2025, marking an increase of nearly 8 billion yuan from the previous year [2] - The company has seen a notable decrease in expense ratios, with management and sales expense ratios dropping to 4.8% and 3.3% respectively for the first half of 2025, indicating improved operational efficiency [4] Summary by Sections Sales Performance - The company reported monthly signed sales amounts of 84.6 billion yuan, 90.8 billion yuan, and 98.0 billion yuan for July, August, and September 2025 respectively, with year-on-year growth rates of 49.5%, 46.5%, and 39.9% [3] - For the third quarter of 2025, the signed sales amount reached 273.4 billion yuan, up from 188.6 billion yuan in the same period of 2024, with a signed sales area of 128.1 million square meters [3] Financial Forecast and Valuation - The profit forecast for the company has been revised upwards for 2025-2027, with expected net profits of 1.25 billion yuan, 1.43 billion yuan, and 1.58 billion yuan respectively [4] - The current stock price corresponds to a price-to-earnings (PE) ratio of 13.7, 12.0, and 10.8 for the years 2025-2027 [4]

Core Insights - The company reported a contracted sales amount of 9.801 billion yuan in September 2025, with a contracted sales area of 493,400 square meters [1] - For the nine months ending September 30, 2025, the cumulative contracted sales amount reached 80.685 billion yuan, representing a year-on-year growth of 27.26% [1] - The cumulative contracted sales area during this period was 3.6746 million square meters [1] - As of September 30, 2025, the company had subscribed (but not yet signed) property sales amounting to 643 million yuan [1]

北京商报讯（记者 王寅浩 李晗）10月13日，中国金茂披露9月销售简报。简报显示，9月中国金茂及其 附属公司签约销售金额为98.01亿元，签约销售建筑面积约49.34万平方米。 ...

Core Insights - China Jinmao (00817) reported a signed sales amount of RMB 9.801 billion in September 2025, with a signed sales area of 493,400 square meters [1] - For the nine months ending September 30, 2025, the company achieved a cumulative signed sales amount of RMB 80.685 billion, representing a year-on-year increase of 27.26% [1] - The cumulative signed sales area for the same period reached 3.6746 million square meters [1] - As of September 30, 2025, the company has also secured a subscribed (but not yet signed) property sales amounting to RMB 643 million [1] Summary by Category Sales Performance - The signed sales amount for September 2025 was RMB 9.801 billion, with a corresponding area of 493,400 square meters [1] - The cumulative signed sales amount for the first nine months of 2025 was RMB 80.685 billion, which is a 27.26% increase compared to the previous year [1] - The total signed sales area for the nine-month period was 3.6746 million square meters [1] Future Prospects - The company has a subscribed property sales amount of RMB 643 million as of September 30, 2025, indicating potential future revenue [1]

| 股息派發日 | 2025年10月31日 | | --- | --- | | 股份過戶登記處及其地址 | 香港中央證券登記有限公司 | | 皇后大道東183號 | | | 合和中心 | | | 17樓1712-1716號舖 | | | 灣仔 | | | 香港 | | | 代扣所得稅信息 | | | 股息所涉及的代扣所得稅 | 不適用 | | 發行人所發行上市權證/可轉換債券的相關信息 | | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 本公司董事為執行董事陶天海先生（主席）、張輝先生及喬曉潔女士；非執行董事崔焱先生、劉文先生、陳一江先生及王葳女士； | | | 以及獨立非執行董事劉峰先生、孫文德先生、高世斌先生及鍾偉先生。 | | 第 2 頁 共 2 頁 v 1.1.1 | 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 | 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。 | | --- | --- | | | ...

Core Viewpoint - China Jinmao (00817.HK) reported a significant increase in contracted sales for September 2025, with a total of RMB 98.01 billion in signed sales and a total area of 493,412.71 square meters sold [1] Group 1: Sales Performance - For the nine months ending September 30, 2025, the company achieved cumulative contracted sales amounting to RMB 806.85 billion, which includes sales from various projects such as Changsha Meixi Lake International New City and Nanjing Qinglongshan International Eco New City [1] - The total contracted sales area for the same period reached 3,674,556.77 square meters [1] Group 2: Future Sales Potential - As of September 30, 2025, the company recorded a subscribed (but not yet signed) property sales amounting to RMB 6.43 billion, indicating potential future revenue [1]

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分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 中國金茂控股集團有限公 司 （於香港註冊成立的有限公司） （股票代號：00817） 公告 2025年中期以股代息安排 代息股份的市值計算 茲提述中國金茂控股集團有限公司（「本公司」）於2025年10月2日刊發的通函（「通 函」），內容有關2025年中期以股代息安排。除文義另有所指外，本公告所用詞彙 與通函所界定者具有相同涵義。 誠如通函所述，為計算根據2025年中期以股代息安排將予配發及發行的代息股 份數目，代息股份的市值將按2025年10月6日（星期一）至2025年10月13日（星 期一）（包括首尾兩日）連續五個交易日在聯交所所報的每股股份的平均收市價計 算。據此，每股代息股份的市值已釐定為1.444港元。 因此，合資格股東將就於記錄日期以其名義登記的現有股份且在其已選擇收取代 息股份的情況下收取的代息股份數目將按以下方式計算： China Jinmao Holdings Group Limited ...