Core Viewpoint - Sunac China has successfully completed its offshore debt restructuring plan, effectively clearing approximately $9.55 billion in offshore debt, marking a significant turnaround for the company after a challenging period [1][7]. Debt Restructuring - The offshore debt restructuring plan will take effect on November 5, 2025, following the successful restructuring of domestic debts earlier this year [1]. - Sunac China is one of only three companies that have successfully restructured both domestic and offshore debts amidst a wave of defaults in the real estate sector since 2021 [1][3]. Leadership and Strategy - Chairman Sun Hongbin has played a crucial role in the restructuring process, demonstrating commitment by providing personal loans and guarantees to creditors [3]. - The company has adopted a strategy of "selling blood" or "creating blood" to reduce debt, which includes asset sales and debt restructuring [4]. - The second round of restructuring involved a mandatory full debt-to-equity swap, allowing creditors to become shareholders, thus sharing risks and benefits [4][7]. Financial Performance - As of January to September 2025, Sunac China achieved a contract sales amount of approximately 31.76 billion yuan, despite a year-on-year decline of 12.87% [8]. - The average selling price per square meter increased by nearly 1.14 million yuan, reaching about 31,700 yuan per square meter [8]. - The Shanghai One Number project has been particularly successful, selling out 66 units in one hour, with total sales exceeding 22 billion yuan for the year [8]. Future Challenges - Despite the successful debt restructuring, Sunac China still faces significant challenges, including a high debt-to-asset ratio of 94.73% and a net loss of approximately 12.81 billion yuan for the first half of 2025 [11]. - The company plans to deliver 60,000 units in 2025, which is only one-third of the previous year's deliveries, indicating ongoing operational challenges [11].

Core Viewpoint - Sunac China disclosed its unaudited operating report for October, indicating a significant performance in contract sales [1] Group 1: Sales Performance - In October, Sunac China and its subsidiaries, along with joint ventures and associates, achieved a contract sales amount of approximately 1.01 billion yuan [1] - The total contract sales area reached about 88,000 square meters [1] - The average contract sales price was approximately 11,500 yuan per square meter [1]

Core Viewpoint - Sunac China has successfully completed its offshore debt restructuring, with approximately $9.6 billion approved by the Hong Kong High Court, marking it as the first large real estate company to achieve full restructuring of both onshore and offshore debts [2][4]. Debt Restructuring - Sunac China is the first large real estate company to complete both onshore and offshore debt restructuring, significantly reducing its overall debt pressure by nearly 60 billion yuan [2][4]. - The onshore debt restructuring involved a total scale of 15.4 billion yuan, providing options such as cash offers, stock economic rights, asset offsets, and debt extensions, expected to reduce nearly 70% of onshore public debt [2][3]. - The offshore debt restructuring included a full debt-to-equity swap option, with two types of mandatory convertible bonds offered to creditors, aimed at maximizing creditor interests while stabilizing the company's capital structure [3][4]. Financial Performance - In the first nine months of the year, Sunac China achieved a contract sales amount of 31.76 billion yuan, a year-on-year decline of 12.9%, with a contract sales area of approximately 1 million square meters, down 44% [9]. - The average contract sales price increased by 56% year-on-year to approximately 31,730 yuan per square meter [9]. - The company reported a revenue of 19.99 billion yuan in the first half of the year, a decrease of 41.7%, with a loss attributable to shareholders of approximately 12.81 billion yuan, a reduction of 14.4% in loss margin [9]. Project Delivery - Sunac China has delivered a total of 668,000 units from 2022 to 2024, ranking among the top three in the industry for two consecutive years, with plans to deliver over 50,000 units by the end of the year [7][8]. - The company aims to return to a positive cycle of project development, sales, and delivery after completing its delivery commitments [8].

Group 1 - In October, the company achieved a contract sales amount of approximately RMB 1.01 billion, with a contract sales area of about 88,000 square meters and an average contract sales price of approximately RMB 11,480 per square meter [1] - As of October 31, 2025, the company has cumulatively achieved a contract sales amount of approximately RMB 32.77 billion, with a cumulative contract sales area of about 1.089 million square meters and an average contract sales price of approximately RMB 30,090 per square meter [1]

Core Insights - Sunac China announced a contract sales amount of approximately RMB 1.01 billion for October 2025, with a contract sales area of about 88,000 square meters and an average contract sales price of approximately RMB 11,480 per square meter [1] - As of the end of October 2025, the cumulative contract sales amount reached approximately RMB 32.77 billion, with a total contract sales area of about 1.089 million square meters [1]

截至2025年10月底，集团累计实现合同销售金额约人民币327.7亿元，同比下降25.1%;累计合同销售面 积约108.9万平方米，合同销售均价约人民币30090元/平方米。 融创中国(01918)发布公告，2025年10月，集团实现合同销售金额约人民币10.1亿元，同比下降86.2%;合 同销售面积约8.8万平方米，合同销售均价约人民币11480元/平方米。 ...

截至2025年10月底，集团累计实现合同销售金额约人民币327.7亿元，同比下降25.1%;累计合同销售面 积约108.9万平方米，合同销售均价约人民币30090元/平方米。 智通财经APP讯，融创中国(01918)发布公告，2025年10月，集团实现合同销售金额约人民币10.1亿元， 同比下降86.2%;合同销售面积约8.8万平方米，合同销售均价约人民币11480元/平方米。 ...

截至2025年10月底，集团累计实现合同销售金额约人民币327.7亿元，累计合同销售面积约108.9万平方 米，合同销售均价约人民币30,090元/平方米。 格隆汇11月6日丨融创中国(01918.HK)发布公告，2025年10月，集团实现合同销售金额约人民币10.1亿 元，合同销售面积约8.8万平方米，合同销售均价约人民币11,480元/平方米。 ...

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10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 融創中國控股有限公司（「本公司」） 呈交日期: 2025年11月6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) | 01918 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 30,000,000,000 | HKD | | 0.1 HKD | | 3,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 30,000,000,000 | HKD | | 0.1 HKD | | 3,000,000,000 | 本月底法定/註冊股本總額： ...

SUNAC CHINA HOLDINGS LIMITED 融創中國控股有限公司 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。 融創中國控股有限公司（「本公司」）董事會（「董事會」）宣佈本公司、附屬公司連同合 營公司及聯營公司（「本集團」）2025年10月若干未經審核營運數據如下： 2025年10月，本集團實現合同銷售金額約人民幣10.1億元，合同銷售面積約8.8萬平 方米，合同銷售均價約人民幣11,480元/平方米。 截至2025年10月底，本集團累計實現合同銷售金額約人民幣327.7億元，累計合同銷 售面積約108.9萬平方米，合同銷售均價約人民幣30,090元/平方米。 上述銷售數據未經審核， 乃根據本集團初步內部資料編製， 鑒於收集該等銷售數據 過程中存在各種不確定性因素， 該等銷售數據與本公司按年度或半年度刊發的經審 核或未經審核綜合財務報表中披露的數字可能存在差異， 因此上述數據僅供投資者 參考。投資者買賣本公司證券時務需謹慎行事，避免不 ...