格隆汇10月31日丨嘉里建设(00683.HK)公布，于2025年10月31日，卖方上海卓妙置业(为公司全资附属 公司)与买方郭孔华(公司主席、行政总裁及执行董事)订立协议，据此，卖方同意出售，而买方同意购买 位于该项目第二座的一个四房单位，建筑面积约为449平方米，代价为人民币1.17亿元。 出售该物业所得款项将用作集团的一般营运资金。该物业尚在建设中，随着项目进一步发展，将产生额 外成本、相关开支及税项。于完成交易后，预期集团将因该交易录得约人民币2300万元的收益。该项目 指金陵华庭(预售证号：黄浦房管(2025)预字0000267)，由卖方目前开发中的住宅项目，位于中国上海市 黄浦区宁海东路99号。 ...

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。 於二零二五年十月三十一日，賣方（為本公司之全資附屬公司）與買方訂立協 議，據此，賣方同意出售，而買方同意購買該物業，代價為人民幣116,838,258元 （約127,704,216港元）。 上市規則之涵義 買方為本公司主席、行政總裁及執行董事，故根據上市規則第十四A章，屬本公司 之關連人士。因此，根據上市規則，賣方向買方出售該物業對本公司而言構成一 項關連交易。 由於根據上市規則第14.07條計算的其中一項或多項適用百分比率超過0.1%但少於 5%，故該交易須遵守上市規則第十四A章項下之公告及申報規定，惟可獲豁免遵 守有關通函（包括獨立財務意見）及股東批准之規定。 * 僅供識別 - 1 - 緒言 於二零二五年十月三十一日，賣方（為本公司之全資附屬公司）與買方訂立協議，據 此，賣方同意出售，而買方同意購買該物業，代價為人民幣116,838,258元（含增值稅） （約127,704,216港元）。 關連交易 ...

Core Viewpoint - Daiwa Capital Markets maintains a "Market Perform" rating for the real estate sector in mainland China and Hong Kong, with selected stocks including China Resources Land (01109) and Sun Hung Kai Properties (00016), both rated "Buy" with target prices of HKD 34.1 and HKD 106.9 respectively [1] Group 1: Company Ratings and Target Prices - Kerry Properties' rating has been upgraded to "Buy" with a target price maintained at HKD 22.8, as the Jinling Huating project is expected to yield substantial profits upon completion of the residential portion in 2027, despite high construction costs [1] - The first batch of units for the second phase of Kerry Properties' Shanghai residential project, Jinling Huating, sold out on the first day of sales with a subscription rate of 190%, and an average price of RMB 20,500 per square meter, which is an increase of RMB 16,000 compared to the launch in March [1] Group 2: Market Demand and Trends - The buyer demographic primarily consists of self-occupiers aged 35 to 55 from high-income sectors, indicating a steady demand for residential properties in mainland China [1] - Despite the robust demand for residential properties, investment sentiment remains weak, as evidenced by a year-on-year decline in new and second-hand home transactions in major cities in October [1]

Core Viewpoint - The report from Daiwa Capital Markets indicates that the first batch of units for Kerry Properties' Jinling Huating Phase II in Shanghai sold out immediately upon launch, with a subscription rate of 190% and an average price of 205,000 yuan per square meter, reflecting a 16,000 yuan increase from the previous sale in March [1] Group 1: Company Analysis - Kerry Properties' rating has been upgraded to "Buy" with a target price maintained at HKD 22.8, as the Jinling Huating project is expected to yield substantial profits upon completion of the residential portion in 2027, enhancing the company's core net profit [1] - The recent decline in stock price is viewed as an attractive entry point for investors [1] Group 2: Industry Insights - The report suggests that while residential demand in mainland China is stabilizing, investment sentiment remains weak, as evidenced by a year-on-year decline in new and second-hand home transactions in October [1] - The company maintains a "Market Perform" rating for the mainland and Hong Kong real estate sectors, with selected stocks including China Resources Land and Sun Hung Kai Properties, both rated "Buy" with target prices of HKD 34.1 and HKD 106.9 respectively [1]

截至月份: 2025年9月30日 狀態: 新提交 FF301 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 致：香港交易及結算所有限公司 公司名稱: Kerry Properties Limited 嘉里建設有限公司（於百慕達註冊成立之有限公司） 呈交日期: 2025年10月3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) | 00683 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 1 HKD | | 10,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 10,000,000,000 | HKD | | 1 ...

Group 1 - The core viewpoint of the report is that Kerry Properties (00683) has successfully transformed the Changsha Bay Kerry Hongji warehouse redevelopment project into a commercial and residential project, with an estimated gross profit margin exceeding 20% [1] - Bank of America maintains a "Buy" rating on Kerry Properties, citing that the company's dividend yield remains above the industry average of 6.5% [1] - The target price for Kerry Properties has been raised from HKD 23.2 to HKD 24.7 [1] Group 2 - The report indicates that the sales revenue from the first and second phases of Shanghai Kerry Jinling Huating has exceeded RMB 19 billion [1] - The company is expected to achieve a deleveraging target of a net debt ratio below 30% by 2026, compared to 38.4% at the end of the first half of this year [1]

Group 1 - Bank of America Securities reports that Kerry Properties (00683) has recently completed the redevelopment of the Changsha Bay Kerry Hongji warehouse project into a commercial and residential project, estimating a gross profit margin exceeding 20% [1] - The company maintains a dividend yield that continues to exceed the industry average of 6.5%, reiterating a "Buy" rating [1] - The target price has been raised from HKD 23.2 to HKD 24.7 [1] Group 2 - The report indicates that the sales revenue from the first and second phases of Kerry Jinling Huating in Shanghai has exceeded RMB 19 billion [1] - The company is expected to achieve a deleveraging target with a net debt ratio below 30% by 2026, compared to 38.4% at the end of the first half of this year [1]

Core Viewpoint - Bank of America Securities reports that Kerry Properties has recently completed the redevelopment of the Cheung Sha Wan Kerry Hong Kee warehouse into a mixed-use project, estimating a gross margin exceeding 20% [1] Group 1: Financial Performance - The sales revenue from the first and second phases of Shanghai Kerry Jinling Huating has surpassed 19 billion yuan, with expectations to achieve a net debt ratio below 30% by 2026, down from 38.4% at the end of the first half of this year [1] Group 2: Investment Rating - The company maintains a dividend yield consistently above the industry average of 6.5%, reaffirming a "Buy" rating and raising the target price from 23.2 HKD to 24.7 HKD [1]

Core Viewpoint - The recent launch of the Jinling Huating Phase II project in Shanghai achieved remarkable sales, with a total sales amount of 9.843 billion yuan, indicating strong demand in the real estate market despite economic challenges [1][9]. Group 1: Sales Performance - The Jinling Huating Phase II project sold out its 120 units within a short period, with an average total price exceeding 82 million yuan per unit [5][9]. - The project attracted 227 effective customer groups during a 4.5-day subscription period, resulting in a subscription rate of approximately 189% [2][9]. - The most expensive unit in the project, a top-floor duplex, has an area of 865 m² and a total price exceeding 282 million yuan, making it the highest-priced new home in Shanghai [6][9]. Group 2: Market Context - The overall real estate market in Shanghai has seen increased activity, with 22 projects opening for subscription in the past week, and several projects recording subscription rates above 100% [10][11]. - The market is characterized by a significant increase in supply, with a 454.98% week-on-week rise in new listings, primarily focused on mid-to-high-end products [10][11]. - Despite the positive sales performance, the chairman of Kerry Properties expressed caution regarding the short-term economic and real estate market challenges, emphasizing the need for vigilance [9].

Core Viewpoint - UBS has released a research report indicating that Kerry Properties' Shanghai residential project, Jinling Huating Phase II, will launch 120 units with an expected average selling price of 205,000 yuan per square meter, representing an 8% increase from Phase I, with a total value of approximately 9.8 billion yuan [1] Group 1 - UBS expresses optimism regarding the sales of Phase II due to the strong performance of Phase I [1] - There is expected price increase potential for the remaining 40 units in Phase II [1] - UBS anticipates that Kerry's net debt ratio may decrease to 22%, with net debt potentially declining by 42% [1] Group 2 - UBS reaffirms a "Buy" rating for Kerry Properties with a target price of 24 HKD [1]