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。 SUNAC CHINA HOLDINGS LIMITED 2025年8月，本集團實現合同銷售金額約人民幣53.9億元，合同銷售面積約13.0萬平 方米，合同銷售均價約人民幣41,460元/平方米。 截至2025年8月底，本集團累計實現合同銷售金額約人民幣304.7億元，累計合同銷 售面積約92.2萬平方米，合同銷售均價約人民幣33,050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，避免不恰當地依賴該等資料。如有 任何疑問，投資者應尋求專業人士或財務顧問的專業意見。 承董事會命 融創中國控股有限公司 主席 孫宏斌 香港，2025年9月4日 融創中國控股有限公司 （於開 ...

Core Insights - Sunac China reported a revenue of approximately 19.99 billion yuan for the first half of the year, a year-on-year decrease of 41.7% [1] - The company recorded a loss attributable to shareholders of about 12.81 billion yuan, which is a 14.4% reduction compared to the previous year [1] - The company is currently focused on addressing delivery and debt issues, which has affected the pace of project sales [1] Financial Performance - The main revenue sources for Sunac China include residential and commercial property sales, cultural tourism city construction and operation, and property management [1] - Property sales revenue was approximately 14 billion yuan, down 50.1% year-on-year, while cultural tourism and property management revenues were 2.17 billion yuan and 3.47 billion yuan, respectively [1] - The gross loss for the first half was 2.08 billion yuan, with significant other expenses totaling 7.54 billion yuan, including losses from subsidiaries and provisions for litigation [3][4] Debt Restructuring - Sunac China has outlined a debt restructuring timeline, expecting to complete the domestic debt restructuring by the end of this year and the overseas debt restructuring by the end of 2025 [1][6] - The domestic debt restructuring plan, which includes options such as cash buybacks and equity compensation, has already seen progress with cash repurchase and new share issuance completed [7] - As of mid-2025, the company reported interest-bearing liabilities of 254.82 billion yuan, a decrease of 22.61 billion yuan year-on-year [7] Business Segments - The combined revenue from property management and cultural tourism segments exceeded 5.6 billion yuan, accounting for 28.3% of total revenue, marking a significant highlight in the interim results [5] - Sunac Services generated 3.55 billion yuan in revenue with a net profit of 120 million yuan, achieving profitability [5] - The cultural tourism segment reported revenues of 2.17 billion yuan, with successful projects in various locations contributing to growth [5]

Core Viewpoint - Sunac China has reduced its losses in the first half of the year, but still faces significant financial burdens, with a reported loss of approximately 12.81 billion yuan, a year-on-year decrease of 14.4% [3][5]. Financial Performance - In the first half of the year, Sunac China achieved revenue of approximately 19.99 billion yuan, a year-on-year decrease of 41.7% [1]. - The main sources of revenue include residential and commercial property sales, cultural tourism city construction and operation, and property management, with property sales revenue around 14 billion yuan, down 50.1% year-on-year [1][4]. - The gross loss for the first half was 2.08 billion yuan, with significant costs in sales and marketing (1.09 billion yuan) and administrative expenses (1.69 billion yuan) [4]. Debt Restructuring - Sunac China has outlined a debt restructuring timeline, expecting to complete domestic debt restructuring by the end of this year and foreign debt restructuring by the end of 2025 [1][10]. - The domestic debt restructuring plan for 15.4 billion yuan has been approved, with options including cash buybacks and equity compensation [9]. - For foreign debt, a comprehensive debt-to-equity swap plan has been proposed, with over 75% of creditors signing support agreements [9]. Business Segments - The property management and cultural tourism segments have shown growth, with combined revenue exceeding 5.6 billion yuan, accounting for 28.3% of total revenue [6]. - Sunac Services reported revenue of 3.55 billion yuan, achieving profitability with a net profit of 120 million yuan [7]. - The cultural tourism segment generated 2.17 billion yuan, with successful projects in various locations [7]. Future Outlook - The company aims to enhance its asset value and manage debt risks effectively, with a focus on project delivery and financial stability [11].

Core Viewpoint - Sunac China reported a loss of approximately 12.81 billion yuan for the first half of the year, a decrease of about 14.4% compared to the same period last year, indicating progress in debt reduction and operational stability [2] Debt Reduction - Sunac China has successfully reduced its interest-bearing debt to 254.82 billion yuan, down 22.61 billion yuan from the previous year, maintaining a stable capital structure [2][4] - The company completed a domestic debt restructuring totaling 15.4 billion yuan in 2024, becoming the first real estate company to achieve overall restructuring of domestic corporate bonds, which is expected to reduce nearly 70% of its domestic public debt [3] - For its offshore debt, Sunac China proposed a "debt-to-equity swap + issuance of new notes" strategy to address 9.048 billion USD in debt, with approximately 75% of bondholders supporting the restructuring agreement [3][4] Operational Recovery - Sunac China aims to deliver over 50,000 units by the end of the year, with 14,900 units delivered in the first half of the year, contributing to a cumulative delivery of 668,000 units from 2022 to 2024 [6][7] - The company has a total land reserve of approximately 124 million square meters, with unsold land valued at about 1.14 trillion yuan, predominantly located in first and second-tier cities [7] - Despite a challenging sales environment, Sunac China achieved a contract sales amount of 23.55 billion yuan in the first half of the year, ranking third among private enterprises in the industry [8] Business Segment Performance - Sunac's property management and cultural tourism segments generated over 5.6 billion yuan in revenue in the first half of the year, accounting for 28.3% of total revenue [8] - The property management segment reported a revenue of 3.55 billion yuan with a net profit of 120 million yuan, marking a return to profitability [8]

Core Viewpoint - Sunac China Holdings Limited (01918) experienced a decline of over 4% in stock price following the release of its half-year performance report, indicating ongoing financial challenges and restructuring efforts [1] Financial Performance - The total contract sales amount for the group, including joint ventures and associates, was approximately RMB 23.55 billion [1] - The group's revenue was approximately RMB 19.99 billion, representing a year-on-year decrease of about 41.7% [1] - The gross loss for the group was approximately RMB 2.08 billion, which is an increase of about 14.9% year-on-year [1] - The loss attributable to the company's owners was approximately RMB 12.81 billion, reflecting a year-on-year decrease of about 14.4% [1] Restructuring Efforts - The company is actively advancing its restructuring plan, having completed cash buyback options and new share issuance under stock economic benefits [1] - The company anticipates completing other options under the domestic public market debt restructuring plan by the end of 2025 [1] - In the second half of the year, the company plans to intensify collaboration with financial institutions, such as asset management companies, to mitigate project debt risks and revitalize quality projects, thereby supporting gradual operational recovery [1]

Core Viewpoint - Sunac China Holdings Limited reported a significant decline in its financial performance for the first half of the year, leading to a drop in its stock price by over 4% following the earnings announcement [1] Financial Performance - The total contract sales amount for the group, including joint ventures and associates, was approximately RMB 23.55 billion [1] - The group's revenue was approximately RMB 19.99 billion, representing a year-on-year decrease of about 41.7% [1] - The group recorded a gross loss of approximately RMB 2.08 billion, which is an increase of about 14.9% year-on-year [1] - The loss attributable to the company's owners was approximately RMB 12.81 billion, reflecting a year-on-year decrease of about 14.4% [1] Restructuring Efforts - The company is actively advancing its restructuring plan, having completed the cash buyback option and the issuance of new shares under the stock economic benefit rights redemption option [1] - It is expected that the execution of other options under the domestic public market debt restructuring plan will be completed by the end of 2025 [1] - In the second half of the year, the company plans to intensify cooperation with financial institutions, such as asset management companies, to provide incremental funding, mitigate project debt risks, and revitalize quality projects to support the gradual recovery of operations [1]

Group 1 - The core viewpoint of the articles highlights Sunac China’s financial performance and strategic plans for debt restructuring and project delivery [1][2] - In the first half of 2025, Sunac China reported revenue of 19.99 billion yuan and a net asset of 44.88 billion yuan, with a total land reserve area of approximately 124 million square meters [1] - The company achieved a net loss attributable to shareholders of 12.81 billion yuan, a reduction of about 14.4% compared to the same period last year [1] - Sunac China’s interest-bearing debt decreased by 22.61 billion yuan year-on-year, totaling 254.82 billion yuan [1] Group 2 - The company plans to deliver over 50,000 units by the end of 2025, with 14,900 homes delivered in the first half of the year [2] - The projects to be delivered from 2026 onwards are primarily new homes sold after 2022, ensuring quality delivery through strict management of pre-sale funds [2] - The total land reserve area, including joint ventures, is approximately 124 million square meters, with 86.24 million square meters of equity land reserves concentrated in core first- and second-tier cities [2] - Upcoming product launches include projects in Shanghai, Tianjin, and Wuhan, which are expected to support the company's return to a positive development cycle [2]

Group 1 - The core point of the announcement is that Sunac China reported a mid-2025 revenue of approximately RMB 19.99 billion, representing a decrease of about 41.7% compared to the same period last year [1] - The company reported a loss attributable to owners of approximately RMB 12.81 billion, which is a reduction of about 14.4% compared to the same period last year [1]

Core Viewpoint - Sunac China reported a significant decline in revenue and a net loss for the first half of the year, indicating ongoing financial challenges for the company [1] Financial Performance - Revenue for the first half of the year was 19.99 billion RMB, down from 34.279 billion RMB in the same period last year [1] - The net loss for the first half was 12.81 billion RMB, a decrease of 14% year-on-year [1] Liabilities and Assets - Accounts payable and other payables amounted to 258.6 billion RMB [1] - Total borrowings reached 254.82 billion RMB [1] - Total assets were reported at 850.82 billion RMB [1]

Core Viewpoint - Sunac China reported a significant decline in revenue and an increase in losses for the first half of 2025, indicating ongoing financial challenges for the company [1] Financial Performance - The total contract sales amount for the group and its joint ventures and associates was approximately RMB 23.55 billion [1] - The group's revenue was approximately RMB 19.99 billion, representing a decrease of about 41.7% compared to the same period last year [1] - The group experienced a gross loss of approximately RMB 2.08 billion, with losses increasing by about 14.9% year-on-year [1] - The loss attributable to the company's owners was approximately RMB 12.81 billion, which is a decrease of about 14.4% compared to the same period last year [1]