Core Insights - Jianye Real Estate (00832) reported a property contract sales amount of RMB 561 million in October 2025, representing a year-on-year decrease of 41.4% [1] - The total contract sales area was 80,900 square meters, down 49.3% year-on-year, while the average selling price per square meter increased by 15.5% to RMB 6,933 [1] - For the ten months ending September 30, 2025, the total property contract sales amounted to RMB 6.682 billion, a decrease of 12.1% year-on-year, with a total sales area of 1.0512 million square meters, down 7.9% year-on-year, and an average selling price of RMB 6,357 per square meter, down 4.6% [1]

Core Viewpoint - The property contract sales of Jianye Real Estate (00832) for the first nine months of 2025 totaled RMB 6.12 billion, reflecting a year-on-year decrease of 7.9% [1] Group 1: Sales Performance - In September 2025, the company achieved property contract sales of RMB 499 million, a year-on-year decline of 31.1% [1] - The total contracted sales area for the first nine months was 970,300 square meters, down 1.1% year-on-year [1] - The average selling price per square meter for the first nine months was RMB 6,308, which is a decrease of 6.8% compared to the previous year [1] Group 2: Monthly Sales Data - The contracted sales area in September 2025 was 80,244 square meters, representing a year-on-year decrease of 25.7% [1] - The average selling price per square meter in September 2025 was RMB 6,219, down 7.2% year-on-year [1]

Core Viewpoint - Hengsheng Real Estate (00845) reported that for the six months ending June 30, 2025, the total gross floor area of properties sold and delivered exceeded 15,000 square meters, primarily from 12 projects located in Shanghai, the Yangtze River Delta, the Bohai Rim, and Northeast China [1] Group 1 - The company is committed to the construction, sales, and delivery of its property projects while seeking to lease and sell office buildings and shops [1] - To alleviate liquidity pressure and improve its debt structure, the company is actively negotiating with multiple lenders regarding the renewal and extension of bank loans and credit financing [1] - The company continues to negotiate with various financial institutions to secure operational funding and explore various financing options for the foreseeable future [1] - The company's shares remain suspended from trading [1]

Core Viewpoint - China Jinmao (00817.HK) reported a significant increase in contracted sales for September 2025, with a total of RMB 98.01 billion in signed sales and a total area of 493,412.71 square meters sold [1] Group 1: Sales Performance - For the nine months ending September 30, 2025, the company achieved cumulative contracted sales amounting to RMB 806.85 billion, which includes sales from various projects such as Changsha Meixi Lake International New City and Nanjing Qinglongshan International Eco New City [1] - The total contracted sales area for the same period reached 3,674,556.77 square meters [1] Group 2: Future Sales Potential - As of September 30, 2025, the company recorded a subscribed (but not yet signed) property sales amounting to RMB 6.43 billion, indicating potential future revenue [1]

Core Viewpoint - Morgan Stanley has raised the target price for China Jinmao (00817) from HKD 1.2 to HKD 1.32 while maintaining a "Market Perform" rating due to a 27% year-on-year increase in property sales for the first nine months of the year [1] Financial Performance - The full-year revenue forecast has been increased by 11% to RMB 118 billion, indicating a year-on-year growth of 20% [1] - Revenue forecasts for 2025 to 2027 have been adjusted upwards by 6%, 10%, and 11% respectively [1] Profitability Metrics - The gross profit margin predictions for the development business for 2025 to 2027 have been raised by 2.2, 2.9, and 3.9 percentage points to 11.5%, 13%, and 12.6% respectively [1] - The gross profit margin for 2024 is projected to be 11% [1] Market Performance - The increase in target price and revenue forecasts is attributed to better-than-expected average selling prices of newly added projects in recent years [1]

（於開曼群島註冊成立的有限公司） （股份代號：3883） 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。 股東及潛在投資者於買賣本公司證券時，務請審慎行事。 解決不發表意見一事的計劃及措施的 進一步落實進展 茲提述中國奧園集團股份有限公司（「本公司」）截至二零二四年十二月三十一日止年度的年度報告 （「年報」）及本公司日期為二零二五年七月四日的公告（「該公告」）。除另有界定者外，本公告所用詞 彙與年報及該公告所界定者具有相同涵義。 本公司謹此提供有關解決不發表意見一事的計劃及措施的進一步落實進展。直至本公告日期計劃 及措施的落實情況概述如下： 1 (i) 本集團正積極推動本集團境內債務的全面重組，以建立緩解債務壓力的長效機制，並強化全 週期現金流風險管控體系，保障本集團的經營安全。目前境內債務重組計劃方案已經基本完 善，正在徵求各方（包括境內債權人）意見，本公司將在獲得實質性進展時及時進行公告； (ii) 本集團一直與各境內貸款人積極磋商借款重續及展期 ...

Core Viewpoint - The company, Dream Oriental (00593), reported strong property sales performance, indicating effective business strategies and sustainable demand in a competitive market environment [1] Group 1: Sales Performance - The company sold a total of 124 properties with a combined gross floor area of approximately 27,493 square meters from July 1, 2025, to September 23, 2025, generating estimated revenue of at least HKD 89.7 million [1] - Approximately HKD 71.1 million of the sales revenue came from a property development project in Huadong Town, Huadu District, Guangzhou, reflecting strong market demand and rapid sales momentum [1] Group 2: Business Strategy and Market Recognition - The sales performance aligns with the company's internal forecasts, demonstrating sustainable demand for its properties despite a competitive market [1] - The strong performance is viewed as a positive indicator, showcasing the company's ability to maintain operational stability and create value even in challenging circumstances [1]

Core Viewpoint - The company anticipates that the revenue from its development business will not be significantly notable in the coming years, despite a rise in property sales revenue in the first half of the year [1] Group 1: Financial Performance - In the first half of the year, the company confirmed property sales revenue of HKD 73.66 billion, a nearly 59% increase year-on-year, with the mainland market contributing approximately 52% [1] - The revenue from property sales was HKD 17.68 billion, down from HKD 18.21 billion in the same period last year, primarily due to a significant decline in the Hong Kong market [1] - The company reported total revenue of HKD 253.86 billion, a year-on-year increase of 15.35%, but the net profit attributable to shareholders fell by 26.75% to HKD 63.02 billion [5] Group 2: Market Strategy - The company has adopted a "grab sales" strategy, offering discounts to stimulate sales in a weak market, which has led to lower revenue margins [1][3] - In Hong Kong, the company launched the "Greater Bay Area Dual Residence" plan to attract buyers from Hong Kong to invest in properties in the Greater Bay Area, with positive buyer feedback [2] - The company plans to continue its flexible pricing strategy to reduce inventory, indicating ongoing discount sales in the near future [3] Group 3: Future Outlook - The company expects that the profit contribution from property development will be limited in the coming years, despite several projects in Hong Kong, Beijing, and Singapore [3] - The company holds approximately 67 million square feet of land reserves for future development, with a focus on acquiring quality land [3] - The company remains interested in investing in new projects and commercial properties in Hong Kong if the returns and prices are attractive [4] Group 4: Rental Income - The company generated rental income of HKD 30.02 billion, slightly down from HKD 31.18 billion year-on-year, while hotel and serviced apartment income was HKD 21.92 billion, with a slight increase but a decline in corresponding profits [5] - The average occupancy rates for hotels and serviced apartments were 89% and 88%, respectively, indicating stable performance in the rental segment [5]

Core Viewpoint - The company reported a mixed performance for the first half of 2025, with increased property sales revenue but declining sales profit due to market weakness and discounting strategies [2][3][4]. Group 1: Financial Performance - The company achieved a revenue of HKD 25.386 billion, representing a year-on-year growth of 15.3% [2]. - Shareholder profit was HKD 6.302 billion, a decrease of 26.7% compared to the previous year, with a loss of HKD 0.503 billion from the revaluation of investment properties [2]. - Property sales revenue reached approximately HKD 7.366 billion, a significant increase of 58.92% from HKD 4.635 billion in the same period last year [3]. Group 2: Market Dynamics - The company adopted a strategy of offering discounts to stimulate sales amid cautious market sentiment, leading to a decline in sales profit despite increased revenue [4][5]. - In the Hong Kong market, property sales revenue increased by 7.77%, but sales profit plummeted by 92.91% from HKD 1.044 billion to HKD 0.074 billion [4]. - The company is focusing on clearing inventory, which is expected to continue influencing pricing strategies [8]. Group 3: Future Outlook - The company anticipates a significant increase in revenue in the second half of 2025, with approximately HKD 28.553 billion in signed but unrecognized property sales expected to contribute around HKD 22.898 billion in revenue [9]. - The company holds a land reserve of approximately 67 million square feet, with expectations for stable profit contributions from property development in the coming years [9]. - The company is exploring new investment opportunities, particularly in commercial and retail properties in Hong Kong, leveraging its financial strength and low capital debt ratio [10][11].

Group 1: Company Performance - Longfor Group (01113) reported a revenue of HKD 25.386 billion for the first half of 2025, representing a year-on-year increase of 15.3% [1] - Shareholders' profit attributable to the company was HKD 6.302 billion, a decline of 26.7% compared to the previous year [1] - Basic earnings per share were HKD 1.80, with an interim dividend proposed at HKD 0.39 per share [1] Group 2: Property Sales and Rental Income - The group experienced an increase in property sales revenue in the first half of 2025, although related profits decreased [1] - The revenue from leasing operations for the group's properties showed a slight decline compared to the same period in 2024 [1] - The newly completed Changjiang Group Center Phase II, located in the core business district of Central, is actively being promoted for leasing [1] Group 3: Market Conditions and Strategies - The retail and commercial property leasing sector in Hong Kong remained weak during the first half of 2025 [1] - The group's hotel and serviced apartment business saw moderate revenue growth, but related profits slightly decreased due to ongoing cost pressures in the industry [2] - The group plans to optimize its hotel and serviced apartment business mix to enhance revenue from both hotel guests and long-term residents [2]