FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 碧桂園控股有限公司 (於開曼群島註冊成立之有限公司) 呈交日期： 2026年1月27日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | | 02007 | 說明 普通股 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 ...

Market Performance - The Hong Kong stock market experienced fluctuations with the Hang Seng Index closing up by 361.43 points, a rise of 1.35% to 27,126.95 points [1] - The Hang Seng Tech Index increased by 28.73 points, up 0.5% to 5,754.72 points, while the National Enterprises Index rose by 97.67 points, a 1.07% increase to 9,244.88 points [1] - Major tech stocks showed mixed performance, with Alibaba up 2.85% and Tencent up 1.25%, while JD.com fell by 2.16% [1] Company News - China Power (02380.HK) reported a total electricity sales volume of 10.73105 million MWh for December 2025, a decrease of 2.31% year-on-year, with an annual total of approximately 126 million MWh, down 1.27% [2] - Harbin Electric (01133.HK) expects a net profit attributable to shareholders of approximately RMB 2.65 billion for the fiscal year 2025, compared to RMB 1.686 billion in the previous year [2] - Dongyang Sunshine Pharmaceutical (06887.HK) signed a strategic cooperation agreement with Shenzhen Jingtai to establish a joint venture for an AI-driven drug development platform [3] - Weisheng Pharmaceutical-B (02561.HK) received approval from the National Medical Products Administration for the marketing license of its injectable growth hormone [4] - Kintor Pharmaceutical-B (02171.HK) issued a profit warning, expecting a net loss for 2025 to be reduced to no more than approximately RMB 120 million [5] - Heng Rui Pharmaceutical (01276.HK) received approval for clinical trials of its SHR-1049 injection [6] Institutional Insights - According to招商国际, the Hong Kong stock market is in a performance vacuum at the beginning of the year, with high growth expectations in the new economy driving market confidence [11] - 富国基金 suggests that the market is likely to maintain a volatile consolidation pattern, with core drivers stemming from global trade tensions and domestic economic recovery [11] - 华泰证券 emphasizes the potential for continued rebounds in the first quarter, focusing on sectors such as AI (semiconductors, software) and innovative pharmaceuticals [11] - 浙商国际 expresses optimism for sectors benefiting from policy support, including renewable energy, innovative pharmaceuticals, and AI technology [12]

Group 1 - The core viewpoint of the articles highlights the significant progress in debt restructuring for real estate companies in early 2026, continuing the trend from 2025 where major firms like Sunac China and Country Garden successfully restructured debts totaling approximately 1.2 trillion yuan [1][5]. - In January 2026, several companies, including Vanke and Kaisa, announced important developments in their debt restructuring processes, indicating a positive start to the year [2][3]. - The "white list" financing system for real estate projects has been optimized, extending the loan extension period from a maximum of 2.5 years to 5 years, providing companies with more financial flexibility [1][7]. Group 2 - Vanke's debt restructuring plan includes a combination of fixed payments, cash buybacks, and interest prepayments, which has garnered high approval from bondholders [2][3]. - Kaisa's restructuring has entered a critical judicial phase, as indicated by a ruling from the Hong Kong High Court, marking a significant step in its overseas debt restructuring [3]. - The debt restructuring efforts have been characterized as a "blood transfusion" for companies, addressing immediate liquidity crises while emphasizing the need for companies to restore their operational capabilities [5]. Group 3 - The debt restructuring process has seen major milestones, such as Jinke's judicial restructuring involving 147 billion yuan in debt, which is the largest case in the real estate sector [4]. - Sunac China is expected to reduce its overall debt pressure by nearly 60 billion yuan, while Country Garden's overseas debt restructuring aims to reduce approximately 11.7 billion USD, equivalent to about 84 billion yuan in interest-bearing debt [4]. - The "white list" financing mechanism has been crucial in supporting real estate companies, with over 7 trillion yuan in loan approvals by September 2025, facilitating the construction and delivery of nearly 20 million housing units [6][7].

（二）国际要闻 【国家市场监督管理总局：加快质量强国建设】1月26日，国家市场监督管理总局官网发布的消息显示，1月22日至23日，全国市场监管系统质量 发展工作座谈会在广西壮族自治区南宁市召开。会议总结2025年和"十四五"时期质量工作，准确把握新时期质量工作面临的新形势新要求，部署 2026年各项工作。会议强调，2026年是"十五五"规划开局之年，推动质量发展工作在新征程起好步至关重要。全国质量发展工作要以《质量强国 建设纲要》为统领，聚焦"质量三强一基"部署，完善质量工作统筹协调机制，纵深推进质量强企强链强县，加快现代化质量基础设施、质量治理 体系和能力建设，增强质量技术基础能力，提升质量治理效能，加快质量强国建设，为经济社会高质量发展筑牢质量根基。 【商务部表示今年将出台扩大入境消费政策措施】1月26日，商务部多位相关负责人在国新办新闻发布会上表示，2026年，商务部将坚定不移扩大 高水平对外开放，着力塑造吸引外资新优势。深化外商投资促进体制机制改革，擦亮"投资中国"品牌。同时，商务部将全力稳住外贸基本盘，大 力发展服务贸易，出台扩大入境消费的政策措施。 【国际金价历史性突破5100美元关口】1月26日 ...

Core Insights - The real estate market in Hainan, particularly in Haikou and Sanya, is experiencing significant growth due to the benefits of the Hainan Free Trade Port, with Haikou's housing sales soaring by 91.6% and prices increasing by 7.1% [2] Group 1: Market Performance - Haikou's residential property sales reached 410 units with a total area of approximately 54,700 square meters and a transaction value of about 1.06 billion yuan [2] - Excluding affordable housing, the market-oriented residential sales in Haikou amounted to 354 units, reflecting a month-on-month increase of 28.3% [2] - The average price of residential properties in Haikou has surpassed 20,000 yuan per square meter, now standing at 20,640 yuan [2] Group 2: Top Performing Projects - The top-selling residential project was Zhonghai Nanhai·Sanhao Yuan, with 52 units sold and an area of approximately 11,910 square meters [3][8] - Nanhai Xingfu Jiang and Dahuajinxiu Four Seasons followed, with 26 and 22 units sold respectively, covering areas of 2,830 and 2,630 square meters [4][8] - Other notable projects included Haikong Jiangxiufu and Wanhua Jiangdong Ludao, with 15 and 14 units sold respectively [4] Group 3: Commercial Property Sales - Haikou's commercial property sales recorded 88 units, with Longhu Guangnian leading with 34 units sold [2]

花样年重组进入司法核心阶段 为进一步巩固化债成效、助力行业持续纾困，政策端同步发力、精准赋能。2026年1月，房地产融资"白 名单"制度迎来关键优化，明确符合条件的"白名单"项目贷款展期期限由此前的最长2.5年延长至5年， 为房企持续推进债务化解提供了更充足的资金周转缓冲空间。 北京商报记者不完全统计，2026年1月，已有包括万科、路劲、花样年及融创中国披露债务重组重要进 展。 以万科为例，1月21日，万科发布多条"21万科02"债券回售公告。依靠"固定兑付+部分现金回售+部分利 息提前兑付+优质增信"的多种方案，万科在满足不同债券持有人诉求的同时，促进了债券展期议案的 通过。 北京商报记者注意到，此次万科采用回售部分债券本金的40%于2026年1月30日兑付，剩余60%展期1 年，提供资金及时进行部分兑付，也能满足债券持有人回收流动性的诉求。 2026年开年，房企债务重组进程迎来密集落地。北京商报记者不完全统计，2026年1月以来，包括万 科、路劲、花样年等4家房企接连披露化债重要进展。在业内人士看来，这一良好开局，正是对2025年 行业集中化债、风险加速出清态势的有效延续与有序承接。2025年房地产行业债 ...

Core Viewpoint - The real estate industry is experiencing a significant debt restructuring process in early 2026, with multiple companies making important progress in their debt resolution efforts, indicating a continuation of the trend from 2025 [1][2]. Group 1: Debt Restructuring Progress - In January 2026, companies such as Vanke, Road King, and Fantasia have disclosed important developments in their debt restructuring [2][3]. - Vanke's debt restructuring plan includes a combination of fixed payments, cash buybacks, and interest prepayments, which has garnered high approval from bondholders [2]. - Fantasia's restructuring has entered a critical judicial phase, as indicated by a ruling from the Hong Kong High Court [3]. Group 2: Scale of Debt Restructuring - In 2025, significant progress was made in debt restructuring, with 21 distressed real estate companies completing their restructuring, amounting to a total debt relief of approximately 1.2 trillion yuan [5]. - Jin Ke Co., for instance, completed a judicial restructuring involving a debt scale of 147 billion yuan, marking it as the largest case in the industry [4]. - Sunac China and Country Garden have also successfully implemented their debt restructuring plans, with Sunac reducing its overall debt pressure by nearly 60 billion yuan [4]. Group 3: Policy Support - The "white list" financing mechanism has been crucial in supporting the debt restructuring efforts, allowing for a shift from relying on company credit to focusing on project assets [6][7]. - As of January 2026, the loan extension period for qualifying "white list" projects has been increased from 2.5 years to 5 years, providing companies with more financial flexibility [7]. - This policy change is expected to enhance the operational stability of quality private real estate companies, allowing them to diversify their business and mitigate risks [7].

COUNTRY GARDEN HOLDINGS COMPANY LIMITED 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。 碧桂園控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：2007） 海外監管公告 本海外監管公告乃由碧桂園控股有限公司（「本公司」）根據香港聯合交易所有限公司 （「聯交所」）證券上市規則（「上市規則」）第13.10B條刊發。 謹請參閱隨附本公司在中華人民共和國上海證券交易所（「上交所」）網頁登載之《碧 桂園控股有限公司關於公司重大事項的公告》（債券代碼：135797）。 另外，亦請參閱隨附本公司之附屬公司碧桂園地產集團有限公司及騰越建築科技集 團有限公司在上交所網站和╱或中華人民共和國深圳證券交易所網站登載之文件： – 1 – 1. 《碧桂園地產集團有限公司關於公司重大事項的公告》（債券代碼：163015、 175214、175366、149407、149509、149632及149748）；及 2. 《騰越建築科 ...

Group 1: Debt Restructuring Progress - In January 2026, several real estate companies, including Vanke, Road King, and Fantasia, reported significant progress in debt restructuring, continuing the trend from 2025 [1][3] - A total of 21 distressed real estate companies completed debt restructuring or received approval for reorganization in 2025, with a total debt relief scale of approximately 1.2 trillion yuan [1][6] - The restructuring efforts are seen as a necessary step to alleviate liquidity crises, with a focus on restoring companies' operational capabilities [6] Group 2: Policy Support and Financing Mechanisms - The "white list" system for real estate financing was optimized in January 2026, extending the loan extension period for eligible projects from a maximum of 2.5 years to 5 years, providing companies with more financial flexibility [1][8] - The "white list" mechanism has been crucial in supporting distressed companies, with over 7 trillion yuan in loan approvals by September 2025, facilitating the construction and delivery of nearly 20 million housing units [7][8] - Analysts suggest that the extended loan terms will benefit financially healthier private real estate companies, allowing them to stabilize operations and diversify their business [9] Group 3: Case Studies of Successful Restructuring - Jin Ke Co., Ltd. completed a judicial reorganization in December 2025, involving a debt scale of 147 billion yuan and covering over 8,400 creditors, marking it as the largest judicial reorganization case in the real estate sector [5] - Sunac China is expected to reduce its overall debt pressure by nearly 60 billion yuan through its restructuring efforts, while Country Garden aims to reduce its offshore debt by approximately 11.7 billion USD, equivalent to about 84 billion yuan [5] Group 4: Market Confidence and Recovery - The debt restructuring process is viewed as a "blood transfusion" to address temporary liquidity issues, while the long-term solution lies in restoring companies' operational capabilities and ensuring project deliveries [6] - The synergy between debt restructuring and project delivery is expected to rebuild market confidence, creating a positive cycle of trust restoration, sales recovery, and capital replenishment [6]

碧桂园服务(06098)发布公告，于2026年1月26日斥资747.03万港元回购120万股。 ...