Core Insights - The company reported a sales amount of 63.31 billion yuan for the first three quarters of 2025, a decrease of 2.8% compared to the same period last year [1] - The sales area increased by 6.1% year-on-year, totaling 2.416 million square meters [1] Group 1: Land Acquisition - The company acquired several new land projects, including: 1. Chengdu Jinjiang District, with a total land area of 37,787 square meters, designated for residential use, with a floor area ratio of 2.10, and the company holds a 30.12% stake [1] 2. Chengdu Jinjiang District, with a land area of 40,838 square meters, designated for mixed commercial and residential use, with a floor area ratio of 1.80, and the company holds a 60.00% stake [1] 3. Hangzhou Gongshu District, with a land area of 20,276 square meters, designated for residential and community service facilities, with a floor area ratio of 1.6, and the company holds a 55.00% stake [1] Group 2: Construction and Rental Operations - The company commenced construction on 235,900 square meters and completed 1.3912 million square meters from January to September 2025 [2] - As of the end of September 2025, the company had 6.431 million square meters under construction [2] - The total area of rental properties managed by the company is 1.0117 million square meters, generating rental income of approximately 639.06 million yuan from January to September 2025 [2]

Financial Performance - The company's operating revenue for the third quarter reached ¥13.55 billion, a 101.09% increase compared to the same period last year[5] - The total profit for the third quarter was ¥548.45 million, reflecting a significant increase of 1,265.04% year-on-year[5] - The net profit attributable to shareholders was a loss of ¥69.61 million, a decrease of 199.39% compared to the previous year[5] - The company experienced a 63.61% increase in operating revenue for the year-to-date period compared to the previous year[9] - The company reported a significant decline in net profit attributable to shareholders for the year-to-date period, down 92.34% year-on-year[10] - Total operating revenue for the first three quarters of 2025 reached ¥51.75 billion, a significant increase from ¥31.63 billion in the same period of 2024, representing a growth of approximately 63.7%[29] - Total operating costs for the first three quarters of 2025 were ¥48.49 billion, compared to ¥29.21 billion in 2024, indicating an increase of about 66.1%[29] - The net profit for the first three quarters of 2025 showed a substantial increase, with investment income recorded at ¥40.62 million, down from ¥267.66 million in 2024[29] - The net profit for the current period is CNY 1,096,770,250.25, a decrease of 38.1% compared to CNY 1,773,951,479.51 in the previous period[30] - The total profit for the current period is CNY 1,811,331,002.59, down 30.8% from CNY 2,621,245,539.17 in the previous period[30] - The operating profit for the current period is CNY 1,785,568,414.29, a decline of 31.4% from CNY 2,600,859,282.01 in the previous period[30] - The basic and diluted earnings per share for the current period are both CNY 0.04, down from CNY 0.49 in the previous period[31] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was ¥17.42 billion, an increase of 372.76% compared to the same period last year[10] - Cash flow from operating activities for the current period is CNY 17,415,946,807.16, significantly up from CNY 3,683,868,706.55 in the previous period[33] - The company reported a significant increase in cash received from operating activities, totaling CNY 41,853,873,313.10, compared to CNY 37,219,471,058.17 in the previous period[33] - Total cash inflow from operating activities was ¥9,108,362,272.16, compared to ¥5,680,569,179.80 in 2024, marking an increase of approximately 60.5%[42] - Cash outflow from operating activities decreased to ¥8,426,450,488.02 from ¥10,314,530,741.98, a reduction of about 18.3%[42] - The ending cash and cash equivalents balance is CNY 34,277,724,727.21, an increase from CNY 29,046,383,272.64 in the previous period[34] - Cash and cash equivalents as of September 30, 2025, amounted to ¥34.69 billion, up from ¥33.22 billion at the end of 2024, reflecting a growth of approximately 4.4%[25] - The ending cash and cash equivalents balance rose to ¥7,595,955,468.36, compared to ¥2,307,621,540.73 at the end of 2024[43] Assets and Liabilities - The total assets at the end of the reporting period were ¥401.28 billion, a decrease of 4.54% from the end of the previous year[6] - The company's total assets decreased to ¥401.28 billion as of September 30, 2025, from ¥420.38 billion at the end of 2024, a decline of about 4.5%[27] - Current liabilities totaled ¥157.69 billion as of September 30, 2025, down from ¥175.07 billion at the end of 2024, indicating a reduction of approximately 9.9%[27] - Total liabilities as of September 30, 2025, were ¥158.02 billion, compared to ¥152.19 billion at the end of 2024, indicating an increase of 3.8%[38] - The company's total equity as of September 30, 2025, was ¥121.51 billion, down from ¥125.01 billion at the end of 2024, reflecting a decrease of about 2.8%[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 50,566[12] - The largest shareholder, Zhuhai Huafa Group Co., Ltd., holds 724,967,983 shares, accounting for 26.34% of the total shares[12] - The top ten shareholders hold a total of 1,000,000,000 shares, representing a significant portion of the company's equity[13] - The company has no shareholders participating in margin trading or securities lending activities[13] Corporate Actions - The company has completed a share repurchase plan, buying back 58,741,300 shares, which is 2.13% of the total share capital, at an average price of 5.28 RMB per share[15] - The company issued 48 million convertible bonds with a total fundraising amount of 4.8 billion RMB, netting 4.72 billion RMB after expenses[17] - The company received 30.8 billion RMB as the first payment for the acquisition of seven commercial land parcels in Shenzhen[20] - The company plans to enhance its valuation through a specific plan approved in August 2025[21] - The company has received approval from the China Securities Regulatory Commission for the issuance of convertible bonds[16] - The company is actively involved in the recovery of commercial land through government acquisition strategies[20] Inventory and Financial Expenses - The company's inventory as of September 30, 2025, was ¥225.85 billion, a decrease from ¥247.95 billion at the end of 2024, representing a decline of approximately 8.9%[25] - Financial expenses for the first three quarters of 2025 were approximately ¥912.05 million, a decrease from ¥1.73 billion in the same period of 2024[40] Investment Activities - Cash flow from investing activities shows a net outflow of CNY 10,771,251,329.40, compared to a net outflow of CNY 19,673,436,435.57 in the previous period[34] - Investment activities generated a net cash inflow of ¥482,244,782.29, compared to a net outflow of ¥1,462,178,007.94 in the previous year[43] - Total cash inflow from investment activities was ¥2,517,975,528.62, down from ¥4,801,954,418.56 in the previous year[43] - Cash received from investment income was ¥141,590,419.21, a decrease from ¥965,567,851.60 in 2024[43] Accounting Standards - The company did not apply new accounting standards for the year 2025[44]

股票代码：600325 股票简称：华发股份 公告编号：2025-097 珠海华发实业股份有限公司 关于 2025 年三季度经营情况简报 一、销售情况 截至2025年9月30日，公司实现销售金额633.1亿元，较去年同期减少2.8%； 销售面积 241.6 万平方米，较去年同期增长 6.1%。 二、新增土地项目情况 2025 年 1-9 月，公司新增土地项目如下： 1.成都锦江区三圣街道驸马村 1 组、10 组、集体，陈家堰村 1 组、3 组，曾 家坡村 3 组项目：土地出让面积为 37,787 平方米，用地性质二类城镇住宅用地， 容积率 2.10。公司拥有该项目 30.12%权益。 2.成都锦江区三圣街道驸马社区项目：土地出让面积为 40,838 平方米，用地 性质二类城镇住宅用地（混合商业服务业用地），容积率 1.80。公司拥有该项目 60.00%权益。 3.杭州拱墅区三塘单元 XC0506-R21/R22-21 项目：土地出让面积 20,276 平 方米，用地性质二类城镇住宅兼容城镇社区服务设施用地，容积率 1.6，公司拥 有该项目 55.00%权益。 三、房地产开发情况 2025 年 1-9 月，公司新 ...

Summary of Stock Buyback Activities on October 30 Core Insights - On October 30, a total of 26 companies announced 27 stock buyback-related updates, indicating a significant activity in the market [1] Group 1: New Buyback Proposals - 16 companies disclosed stock buyback proposals for the first time, with 6 companies proposing buyback amounts exceeding 10 million [1] - The highest proposed buyback amounts were from HeMai Co., Ltd. (up to 200 million), Sanli Shi (60 million), and Minsheng Health (50.544 million) [1] Group 2: Approved Buyback Plans - 2 companies had their buyback plans approved by shareholders, with the highest proposed amounts from Dayu Biological (up to 5.596 million) and New Weiling (20,200) [1] Group 3: Buyback Implementation Progress - 2 companies reported on the implementation of their buyback plans, with the highest amounts from Guyue Longshan (186 million) and Jiayi Co. (99.0246 million) [1] Group 4: Completed Buybacks - 5 companies completed buybacks exceeding 10 million, with the highest completed amounts from Huafa Co. (310 million), Shenzhou Digital (203 million), and Ruoyu Chen (200 million) [1] - As of October 30, a total of 1711 buyback plans have been completed this year, involving 1281 companies, with 330 companies completing buybacks exceeding 100 million [1] - The leading companies in completed buyback amounts include Kweichow Moutai (6 billion), Muyuan Foods (3 billion), and COSCO Shipping Holdings (2.146 billion) [1]

Group 1 - The company approved a share repurchase plan with a total amount between RMB 300 million and RMB 600 million, with a maximum repurchase price of RMB 9.83 per share, valid for 12 months from October 29, 2024 [2] - The maximum repurchase price was adjusted to RMB 9.73 per share starting from May 26, 2025, due to the implementation of the 2024 annual equity distribution [2] - The maximum repurchase price was further adjusted to RMB 9.71 per share starting from September 11, 2025, due to the implementation of the 2025 semi-annual equity distribution [3] Group 2 - The company completed the share repurchase on October 28, 2025, acquiring a total of 58,741,300 shares, which is 2.13% of the total share capital, at an average price of RMB 5.28 per share, totaling RMB 310,062,380.50 [4] - The funds used for the repurchase were from the company's own funds and bank loans, and the repurchase will not significantly impact the company's operations or financial status [5] - The company’s controlling rights will not change as a result of the repurchase, and the share distribution will remain compliant with listing requirements [5] Group 3 - There were no stock trading activities by the company's major shareholders, directors, supervisors, or senior management from the announcement of the repurchase plan until the date of this announcement [6] - The share repurchase will be used for employee stock ownership plans or equity incentives, and any unutilized shares within 36 months will be canceled [8] Group 4 - The company issued 48 million convertible bonds with a total value of RMB 480 million, which will be listed for trading on November 4, 2025 [11][13] - The convertible bond holders are subject to an 18-month lock-up period after the issuance, during which they cannot transfer the converted shares [12][13] - The issuance complies with relevant laws and regulations, and the underwriting institutions have confirmed the legality of the issuance [12]

Core Points - Company completed a share buyback on October 28, 2025, repurchasing a total of 58.7413 million shares, which represents 2.13% of the total share capital [1] - The highest price for the repurchased shares was 5.83 CNY per share, while the lowest price was 4.78 CNY per share, with an average buyback price of 5.28 CNY per share [1] - The total amount spent on the buyback was 310 million CNY, excluding transaction fees such as stamp duty and commissions [1]

Core Viewpoint - Huafa Co., Ltd. announced the completion of its share repurchase on October 28, 2025, acquiring a total of 58,741,300 shares, which represents 2.13% of the company's total share capital [1] Summary by Category - **Share Repurchase Details** - The company completed the share repurchase through centralized bidding transactions [1] - A total of 58,741,300 shares were repurchased [1] - The repurchased shares account for 2.13% of the company's total share capital [1]

一、 回购审批情况和回购方案内容 2024 年 10 月 29 日，公司召开的第十届董事局第四十五次会议审议通过了《关 于以集中竞价交易方式回购股份方案的议案》。同意公司使用自有资金或自筹资金 以集中竞价交易方式回购公司股份，回购资金总额不低于人民币 3 亿元（含本数） 且不超过人民币 6 亿元（含本数），回购价格不超过人民币 9.83 元/股，回购期限 为自董事局审议通过本次回购股份方案之日起 12 个月内。具体详见公司于 2024 年 10 月 30 日披露的《珠海华发实业股份有限公司关于以集中竞价方式回购股份 的预案》（公告编号：2024-058）。 证券代码：600325 证券简称：华发股份 公告编号：2025-095 珠海华发实业股份有限公司 关于回购股份实施结果公告 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内 容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2024/10/30 | | | | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 年 2024 10 29 日~2025 ...

证券代码：600325 证券简称：华发股份 珠海华发实业股份有限公司 向特定对象发行可转换公司债券 挂牌转让公告书 联合保荐人（联席主承销商） 联席主承销商 二〇二五年十月 特别提示 一、发行数量及价格 1、发行数量：4,800.00 万张 2、发行价格：100 元人民币/张 3、认购方式：现金 4、募集资金总额：4,800,000,000.00 元 5、募集资金净额：4,723,143,283.13 元 二、本次发行可转换公司债券预计挂牌转让时间 本次向特定对象发行可转换公司债券预计将于 2025 年 11 月 4 日在上海证券 交易所挂牌转让。 三、新增可转换公司债券的限售安排 本次向特定对象发行可转换公司债券无限售安排。本次可转债持有人将其持 有的可转债转股的，所转股票自本次向特定对象发行可转换公司债券发行结束之 日起 18 个月内不得转让。 1 | 特别提示 1 | | --- | | 释 义 4 | | 第一节 本次发行的基本情况 6 | | 一、公司基本情况 6 | | 二、本次新增可转换公司债券发行情况 7 | | 第二节 本次新增可转换公司债券挂牌转让情况 24 | | 一、新增可转换公司债券 ...

股票代码：600325 股票简称：华发股份 公告编号：2025-096 珠海华发实业股份有限公司 三、中介机构核查意见 关于向特定对象发行可转换公司债券挂牌转让的 提示性公告 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内 容的真实性、准确性和完整性承担法律责任。 一、本次挂牌转让的定向可转债概况 2025 年 8 月 4 日，中国证券监督管理委员会（以下简称"中国证监会"）出 具了《关于同意珠海华发实业股份有限公司向特定对象发行可转换公司债券注册 的批复》（证监许可﹝2025﹞1644 号），根据上述批复，珠海华发实业股份有限 公司（以下简称"公司"）向国信证券股份有限公司等 15 家发行对象发行了可转 换公司债券（以下简称"定向可转债"）。2025 年 10 月 20 日，公司本次发行的 定向可转债在中国证券登记结算有限责任公司上海分公司办理完成登记托管。本 次定向可转债的发行数量为 48,000,000 张,面值为 100 元/张，发行总额为 480,000 万元，简称为"华发定转"，证券代码为"110818"。 二、本次挂牌转让的定向可转债持有人履行承诺情况 ...