Core Viewpoint - Yuexiu Property is positioning itself as a pioneer in the Chengdu market, particularly in the eastern development area, with a focus on delivering high-quality residential projects and enhancing community living experiences [1][3][18] Group 1: Strategic Development - Yuexiu Property has strategically acquired approximately 68 acres of land in the "Golden Central" area in April 2023, marking the beginning of its deep engagement in the Chengdu market [3] - The company has successfully launched the first two phases of Yuexiu Tianyue Yuncui, which have received high market recognition due to continuous product innovation [3][18] - In October 2025, Yuexiu Property acquired an additional 60 acres adjacent to the first phase, reinforcing its commitment to the area [3] Group 2: Project Delivery and Quality - The first phase of Yuexiu Tianyue Yuncui is set for quality delivery in November 2025, featuring a grand entrance and luxurious amenities [4] - The project includes a comprehensive lifestyle upgrade with high-end services and facilities, such as a 1,400 square meter hotel-style clubhouse [8] - The development emphasizes a community-oriented approach, catering to all age groups with diverse social spaces [6][8] Group 3: Community and Lifestyle Integration - Yuexiu Tianyue Yuncui III has been introduced, creating a "super community" that spans over 100 acres, enhancing the living experience in the core area of "East Tide" [10][18] - The project is designed with a low building density of approximately 2.0, focusing on creating a park-like living environment that enhances natural light and airflow [16] - The community features a 17,000 square meter "Park Super Clubhouse" and interactive parks, transforming landscapes into participatory spaces [16] Group 4: Product Innovation and Market Positioning - The third phase of Yuexiu Tianyue Yuncui offers residential units ranging from 117 to 150 square meters, designed to enhance family social interactions and living scenarios [19] - The project reflects a shift from merely meeting housing needs to creating engaging living environments, aligning with the evolving demands of modern families [19] - Yuexiu Property's approach exemplifies a narrative of co-growth with the city, continuously evolving its product offerings to meet the aspirations of quality-seeking urban residents [18]

承董事會命 越秀地產股份有限公司 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之內容概不負責，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之任何損失承擔任 何責任。 （在香港註冊成立的有限公司） 海外監管公告 （股份代號：00123） 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 非執行董事： 張貽兵及蘇俊杰 獨立非執行董事： 余立發、李家麟、劉漢銓及張建生 债券代码：138935 债券简称：23 穗建 01 广州市城市建设开发有限公司关于"23穗建01" 公司债券赎回结果及2026年提前摘牌公告 本期债券提前摘牌情况如下： 余達峯 公司秘書 香港，二〇二六年二月六日 於本公告刊發日期，董事會成員包括： 執行董事： 林昭遠（董事長）、朱輝松、江國雄、賀玉平、陳靜及劉艷 1、债券代码：138935 2、债券简称：23 穗建 01 3、提前摘牌原因：2026 年 2 月 24 日为"23 穗建 01"第 3 个计息年度付息 日。根据《募集说明书》，发行人有权在本期债券存续期间的第 3 年末赎回本期 债券全部 ...

Core Viewpoint - The real estate market in major cities has entered a traditional seasonal downturn, characterized by overall cooling, increasing differentiation, and some bright spots. Supply and demand are contracting simultaneously, with developers showing low enthusiasm for sales and buyers exhibiting strong wait-and-see sentiment, leading to a prominent "look but don't buy" phenomenon [3][4]. Supply and Demand Dynamics - The real estate market is experiencing a cyclical downturn, with new home supply and demand both decreasing significantly. In many cities, new home transaction areas have dropped by 30% to 60% month-on-month, and year-on-year figures show a 20% decline, marking the lowest monthly figure in nearly a year [4]. - Developers are entering a rest period, significantly reducing the scale of new launches, with cities like Shenzhen and Nanjing experiencing supply gaps. The average absorption rate for new projects in Shanghai was only 16% in January [4]. Market Differentiation - Differentiation is evident across various dimensions: - Between cities and within city districts, core first-tier and strong second-tier cities (like Shenzhen and Hangzhou) show slightly higher visitor and subscription activity, while weaker second-tier and suburban areas are experiencing significant cooling [3]. - Product differentiation is notable, with affordable housing and high-end projects performing well, while ordinary improvement and suburban affordable housing continue to struggle [3]. - The second-hand housing market is becoming increasingly dominant, with transaction activity significantly outpacing new homes [3]. Land Market Trends - The land market is characterized by slowed supply, bottom-price transactions, and dominance by state-owned enterprises. Most cities are seeing a decline in transaction volume, with only a few core plots attracting interest, primarily from state-owned and central enterprises [5]. High-End Project Performance - High-end improvement projects in core locations are achieving high absorption rates, with cities like Hangzhou and Tianjin reporting rates of 62% and 68%, respectively. Notable projects include Shanghai's Taikoo Li, which sold 50 out of 60 units on the first day, achieving an 83% absorption rate [7]. Second-Hand Market Activity - In January, the transaction area for second-hand homes in 20 major cities reached approximately 1,483 million square meters, a month-on-month increase of 10% and a year-on-year increase of 25%, marking the second-highest level in 13 months [15]. - The second-hand market is showing a trend of stable volume and weak prices, with many cities experiencing price declines, particularly in lower-priced segments [17][20]. Future Outlook - The market is expected to continue its seasonal downturn in February due to the impact of the Spring Festival, with both new and second-hand home transactions likely to decline. However, a recovery is anticipated in March, with the potential for a "small spring" in the market as quality projects are launched [22].

越秀地产广州区域坚持"走出去"，联动优质资源，为业主打造更优质的生活体验：与广州图书馆深度合 作，在阅璟台落地社区图书馆，提供"读、购、借"一站式服务，让书香浸润日常；联动越秀食品，整合 趣香、皇上皇等老广熟知的老字号，打造社区食品集合店，让业主在家门口就能享受地道老广风味。 根据"2026理想社区计划"，越秀地产2026年将持续加码理想社区建设，预计覆盖8+个核心项目，打造 20+个待落地配套功能空间，全面覆盖四大类12种核心功能，填补社区服务空白，让更多业主享受到完 整社区的便捷与温暖。 据相关负责人介绍，在资源协同上，越秀地产将持续深化内外部联动：对内，联动越秀食品、越秀康 养、越秀服务等集团优质资源，实现资源共享、优势互补，让高品质生活体验无缝融入社区日常；对 外，深化与广州图书馆、市民政局等外部伙伴的合作，拓展服务边界、提升服务品质，构建"政府引 导、企业运营、社会参与、业主共建"的理想社区生态，让社区更有活力、更有韧性。 在社群运营上，已扶持约160位社区主理人同行，未来还将持续深化业主共建模式，培育更多优质社 群，扶持更多业主主理人，举办更多元化的社区活动，让"人人共建、人人共享"的理念深入人心 ...

Core Viewpoint - Yuexiu Property (00123) announced the issuance of the first phase of corporate bonds for 2026, with a total scale not exceeding RMB 700 million [1] Group 1: Bond Issuance Details - The first phase of corporate bonds will consist of two types: (i) a five-year fixed-rate bond (Type 1), with the issuer having the option to adjust the interest rate at the end of the third year [1] - The issuer has the right to redeem all outstanding Type 1 bonds at the end of the third year, and bondholders have the right to sell back all or part of their Type 1 bonds [1] - (ii) a seven-year fixed-rate bond (Type 2), with the issuer having the option to adjust the interest rate at the end of the fifth year [1] - The issuer has the right to redeem all outstanding Type 2 bonds at the end of the fifth year, and bondholders have the right to sell back all or part of their Type 2 bonds [1] Group 2: Additional Features - The bond issuance includes an inter-type allocation option, with no limit on the allocation ratio, allowing the issuer and lead underwriter to decide on the exercise based on subscription conditions [1] - The interest rates for Type 1 and Type 2 bonds will be determined after the book-building process [1] - Proceeds from the bond issuance, after deducting issuance costs, will be used to repay maturing corporate bonds [1]

Core Viewpoint - The company, Yuexiu Property (00123), announced the issuance of the first phase of corporate bonds for 2026, with a total scale not exceeding RMB 700 million [1] Group 1: Bond Issuance Details - The first phase of corporate bonds will consist of two types: (i) a five-year fixed-rate bond (Type 1) with an option for the issuer to adjust the interest rate at the end of the third year, and (ii) a seven-year fixed-rate bond (Type 2) with an option for the issuer to adjust the interest rate at the end of the fifth year [1] - At the end of the third year, the issuer has the right to redeem all outstanding Type 1 bonds, and Type 1 bondholders have the right to sell back all or part of their bonds to the issuer [1] - Similarly, at the end of the fifth year, the issuer can redeem all outstanding Type 2 bonds, and Type 2 bondholders can sell back all or part of their bonds [1] Group 2: Use of Proceeds - The proceeds from the issuance of the 2026 first phase corporate bonds, after deducting issuance costs, will be used to repay maturing corporate bonds [1]

Core Viewpoint - Yuexiu Property (00123.HK) announced the issuance of the first phase of corporate bonds for 2026, with a total scale not exceeding RMB 700 million [1] Group 1: Bond Issuance Details - The first phase of corporate bonds will consist of two varieties: (i) a five-year fixed-rate corporate bond ("Type A Bond") with an option for the issuer to adjust the interest rate at the end of the third year [1] - At the end of the third year, the issuer has the right to redeem all outstanding Type A Bonds, and bondholders have the right to sell back all or part of the Type A Bonds to the issuer [1] - (ii) a seven-year fixed-rate corporate bond ("Type B Bond") with an option for the issuer to adjust the interest rate at the end of the fifth year [1] - At the end of the fifth year, the issuer has the right to redeem all outstanding Type B Bonds, and bondholders have the right to sell back all or part of the Type B Bonds to the issuer [1] Group 2: Use of Proceeds - The proceeds from the issuance of the 2026 first phase corporate bonds, after deducting issuance costs, will be used to repay maturing corporate bonds [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任 何責任。 本公告只可作參考用途，並不構成收購、購買或認購證券的邀請或要約，或就進行上述任何事宜訂立協議的邀 請，亦不得視作在香港或其他地區收購、購買或認購本公司及其附屬公司任何證券的要約。 （在香港註冊成立的有限公司） （股份代號：00123） 自願性公告 附屬公司於中國公開發行擔保公司債券 本公告由越秀地產股份有限公司（「本公司」）自願作出。 茲提述本公司日期為二○二五年五月二十日、二○二五年七月四日、二○二五年七月二十九 日、二○二五年八月十三日、二○二五年八月十五日、二○二五年八月十九日、二○二五年九 月九日、二○二五年九月十日、二○二五年九月十二日及二○二六年一月二十六日的公告（統 稱，「該等公告」），內容有關本公司擁有95%權益的間接中國附屬公司廣州市城市建設開發 有限公司（「發行人」）向中國證券監督管理委員會及上海證券交易所（「上交所」）申請註冊在中 國面向專業投資者公開發行本金總額最高為人民幣9,6 ...

Market Overview - The Hong Kong stock market showed mixed performance with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The market turnover decreased to 82.799 billion [1] - The net inflow of funds through the Hong Kong Stock Connect was 484 million, with Shanghai Stock Connect contributing 283 million and Shenzhen Stock Connect 201 million [1] Sector Performance - Energy and real estate sectors performed well, with coal-related assets rising due to supply constraints from Indonesia, leading to Yanzhou Coal Mining increasing over 10% and China Shenhua Energy rising over 5% [1] - Domestic property stocks also saw gains, with Shimao Group up over 14%, Sunac China up over 8%, Vanke up over 6%, and Yuexiu Property up over 6% [1] - Conversely, chip and tech stocks declined, with Shanghai Fudan down over 5%, Hua Hong Semiconductor down nearly 5%, and Tencent Holdings down nearly 4% [1] US Market Performance - The US stock market had mixed results, with the Dow Jones up 0.53%, while the S&P 500 and Nasdaq fell by 0.51% and 1.51% respectively [2] - Notable gainers included Amgen, which rose over 8%, and Nike, which increased by over 5% [2] - The tech sector faced challenges, with the Nasdaq China Golden Dragon Index down 1.95% and major chip stocks like AMD dropping over 17% [2] Investment Opportunities - The report emphasizes the importance of "technological self-reliance" and AI applications as key themes for future growth in the Hong Kong stock market, suggesting that leading companies in these sectors may see medium to long-term development opportunities [3] - It is recommended to focus on sectors supported by policies aimed at expanding domestic consumption, such as sports apparel and non-essential services [3] - The report highlights the continued value of Hong Kong stocks centered around Chinese assets, particularly in technology, consumer sectors, and undervalued state-owned enterprises [3] Company Highlights - ZTE Corporation (0763.HK) is noted for its comprehensive communication manufacturing capabilities, with a projected revenue of 121.299 billion for 2024, despite a slight decline [10] - The company maintains a high gross margin of 37.91% and is expected to see significant growth in its server and storage revenue, particularly in the AI computing sector [10] - Analysts predict ZTE's net profits for 2025 and 2026 to be 7.98 billion and 8.81 billion RMB respectively, indicating a relatively low valuation compared to its earnings potential [10]

2026 年 2 月 5 日 星期四 昨日港股窄幅波动。恒生指数及国企指数分别收报 26,847 点及 9,048 点，前者上升 0.1%，后者下跌 0.1%。港股成交合共 2,854 亿港元，较前日的 3,352 亿港元，下跌 14.9%，或反映投资者观望情绪增加。分类指数方面，能源、地产建筑、原 材料业指数分别上升 3.0%、2.1%、1.4%；资讯科技、非必需性消费则分别下跌 3.4%、0.4%。蓝筹个股方面，信义玻璃 (868 HK)及中国神华(1088 HK)领涨，分别上升 5.9%及 5.7%；携程集团(9961 HK)及腾讯控股(700 HK)领跌，分别下跌 6.1%及 4.0%。 主要内房港股明显上升，例如华润置地(1109 HK)、中国海外发展(688 HK)、越秀地产(123 HK)、万科企业(2202 HK)上涨 3.9%-6.2%。近期部分投资机构预期政府在短中期未来将公布更积极推动房地产政策。至目前为止,房地产销售数字仍需 突围，存销比率也较高。我们盼望推动政策的力度可较大。 ➢ 每日大市点评 昨晚美股表现分化，科技股受到抛售，例如 AMD(AMD US)下跌 17.3%，光伏股则上 ...