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]

Core Viewpoint - UBS reports that Kerry Properties (00683) will launch the second phase of its Shanghai residential project, Jinling Huating, with 120 units at an average price of RMB 205,000 per square meter, an 8% increase from the first phase sold in March [1] Group 1: Project Details - The second phase of Jinling Huating will consist of 120 units, with a total estimated value of RMB 9.8 billion [1] - The average selling price for the new units is projected to be RMB 205,000 per square meter, reflecting an 8% price increase compared to the first phase [1] Group 2: Sales Performance and Financial Outlook - The strong sales performance of the first phase in March has led to an optimistic outlook for the second phase, with expectations of further price increases for the remaining 40 units [1] - Approximately half of the contracted sales revenue from the first phase is still pending recognition, which, along with the total saleable resources from the second phase, is expected to reduce the company's net debt ratio to 22% and decrease net debt by 42% [1] Group 3: Analyst Rating - UBS maintains a "Buy" rating for Kerry Properties, with a target price set at HKD 24 [1]

Core Viewpoint - UBS reports that Kerry Properties (00683) will launch the second phase of its Shanghai residential project, Jinling Huating, with 120 units at an average price of RMB 205,000 per square meter, representing an 8% increase from the first phase sold in March [1] Group 1: Sales and Pricing - The total value of the 120 units in the second phase is expected to reach RMB 9.8 billion [1] - The strong sales performance of the first phase in March supports an optimistic outlook for the second phase, with potential for further price increases on the remaining 40 units [1] Group 2: Financial Metrics - Approximately half of the contracted sales revenue from the first phase is still pending recognition [1] - With the total saleable resources from both phases, Kerry's estimated net debt ratio may decrease to 22%, and net debt could decline by 42% [1]

Core Viewpoint - UBS reports that Kerry Properties' Shanghai residential project, Jinling Huating Phase II, will launch with 120 units at an average price of 205,000 yuan per square meter, representing an 8% increase from the first phase sold in March [1] Group 1: Project Details - The total value of the 120 units in Phase II is estimated to reach 9.8 billion yuan [1] - The strong sales performance of Phase I in March has led to an optimistic outlook for the sales of Phase II [1] - An additional 40 units in Phase II are expected to have further price increase potential [1] Group 2: Financial Implications - Approximately half of the contracted sales revenue from Phase I is still pending recognition [1] - With the total saleable resources from both phases, Kerry's projected net debt ratio may decrease to 22% [1] - Net debt is also expected to decline by 42% [1] Group 3: Analyst Rating - UBS maintains a "Buy" rating for the company with a target price of 24 HKD [1]

嘉里建設有限公司* KERRY PROPERTIES LIMITED (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） website 網址: www.kerryprops.com (Stock Code 股份代號: 683) NOTIFICATION LETTER 通知信函 8 September 2025 Dear Non-registered Shareholders (Note 1), Kerry Properties Limited (the "Company") Notification of publication of Interim Report 2025 (the "Current Corporate Communication") The English and Chinese versions of the Current Corporate Communication of the Company are available on the website of the Company at www.ker ...

本產品採用FSC®認證的和其他受控來源的材料。 目錄 掃描並下載 本報告 2 財務摘要 3 主席報告 5 管理層討論及分析 5 業務回顧 18 資本資源及流動資金 21 財務資料 21 獨立核數師審閱報告 22 簡明綜合中期收益表 23 簡明綜合中期全面收益表 24 簡明綜合中期財務狀況表 26 簡明綜合中期現金流動表 28 簡明綜合中期權益變動表 30 簡明綜合中期財務報表附註 47 企業管治及其他資料 58 股東參考資料 60 釋義 62 公司資料 財務摘要 | | 二零二五年 | 二零二四年 | | | --- | --- | --- | --- | | | 上半年 | 上半年 | 百分比變動 | | | 百萬港元 | 百萬港元 | | | 合併收入 (1) | 9,954 | 6,039 | 65% | | 物業銷售 | 6,422 | 2,325 | 176% | | 物業租賃及其他 | 2,502 | 2,649 | - 6% | | 酒店營運 | 1,030 | 1,065 | 3% - | | 收入 (2) | 8,059 | 5,040 | 60% | | 基礎溢利 (3) | 978 | ...

(Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） website 網址: www.kerryprops.com (Stock Code 股份代號: 683) NOTIFICATION LETTER 通知信函 Dear Registered Shareholders, 嘉里建設有限公司* KERRY PROPERTIES LIMITED 8 September 2025 Kerry Properties Limited (the "Company") Notification of publication of Interim Report 2025 (the "Current Corporate Communication") The English and Chinese versions of the Current Corporate Communication of the Company are available on the website of the Company at www.kerryprops.com ( ...

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 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 II. 已發行股份及/或庫存股份變動 | 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 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,451,305,728 | | 0 | | 1,451,305,728 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 1,451,305,728 | | 0 | | 1,451,305,728 | 第 2 頁 共 10 頁 v 1.1.1 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 ...

Group 1 - Goldman Sachs adjusts Kerry Properties' (00683) earnings per share forecast for 2025 to 2027 to HKD 1.47, 1.31, and 2.86, maintaining a dividend of HKD 1.35, implying a yield of approximately 6% [1] - The target price is slightly raised from HKD 20.6 to HKD 20.9, with a "Neutral" rating maintained [1] - For the first half of the year, the basic earnings per share was HKD 0.67, a year-on-year decline of 30%, but 49% higher than the bank's expectations [1] Group 2 - EBITDA increased by 10% year-on-year, exceeding the bank's expectations by 34%, primarily due to better-than-expected profit margins from both development and investment properties [1] - Net interest expenses for the first half were HKD 77 million, which is 63% lower than the bank's expectations [1] - The group declared an interim dividend of HKD 0.4, unchanged year-on-year and in line with the bank's expectations [1] Group 3 - As of June 2025, the debt ratio was approximately 38.4%, a decrease of 3.1 percentage points from the end of the previous year [1] - Management aims to reduce the debt ratio to the lower end of 30% by the end of 2026, compared to an earlier target of the mid-range of 30% [1]