佳兆业集团中期报告 2025

（於開曼群島註冊成立的有限公司）股份代號：1638 2025中 期 報 告僅供識別 55 457 959 1661 44120 53 Cricket SquareHutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands 3306 9930 Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3Building D, P.O. Box 1586Gardenia Court, Camana BayGrand Cayman, KY1-1110Cayman Islands Harney Westwood & Riegels 1638 http://www.kaisagroup.com 3,701.0462.731.8%37.8%10,030.51.4309,115.41.299 GDP5.3% 5LPR3.5%15.59.4 2,003 125,076 37.6 4416420.7512.6061%42% 4202556 31.0 (i)(ii)(iii)75.11%81.07% 3,701.05,428.631.8%10,096.78,993.910,030.59,115.41.4301.299 2,003171,315 0.33 647.03 99.977 100.44 20.7561% (i)(ii)(iii)(iv)(v)(vi)(vii)5,428.631.8%3,701.056.5%68.0%43.5%32.0% 3,691.02,089.81,601.243.4%0.280.11 207.3224.817.58.4% 826.4771.954.56.6% 116.6105.910.79.2% 82.92.63.1%85.5 348.244.012.6%304.2 744.3462.7281.637.8%13.7%12.5% 5,294.73,293.41,590.6452.4813.56,213.4469.5485.6 244.0131.9112.145.9% 710.0473.0237.133.4% 489.2294.6194.639.8% 939.21,201.8262.628.0% 370.073.1 10,096.710,060.58,993.98,998.1 2,169.52,390.49.2%1,420.41,692.7 133,738.7135,073.6119,252.0118,077.82,525.74,235.510,120.010,728.61,841.02,031.7 64.9%63.0%61,949.551,015.70.020.020.70.8 749.0697.6119,252.0118,077.80.010.01 16,467.518,520.4245,799.0243,771.5202,640.9210,679.7229,331.5225,251.1186,173.4192,159.3123.2%117.2%6.0 6,845.06,583.5261.54.0% 85,308.0 22,281.124,312.2(i)(ii) 20,643.720,767.6 14,80715,225(2168.HK)11,709(876.HK)917(936.HK)104240.4446.4 13.22 13.11(2)(a) 3,196,238,000 1. (1) (i)(ii) (2) (3) 10%134,422,0101.92% (4) 1% (5) (6) 1.00 (7) (i)(ii)(iii) (8) 1.4820%40%60% 2.4820%40%60% (1) (i) (ii) (2) (3) 10%596,989,5988.51% (4) (a)(b)(c)1% (5) (6) 1.00 (7) (i)(ii)(iii)(5) (8) XV352 1.22.33. XV 7,015,468,487 XV352 336 1.LS2.KS Holdings 1 LimitedKS Holdings 1 Limited819,506,0033.970,533,7354.887,995,1495.7,015,468,487 336 1. 22 2. (i) D234 (ii) 21 2. (iii) 10,030.59,115.461,949.551,015.7133,738.7135,073.6119,252.0118,077.81,420.41,692.7749.0697.6114,017.1114,157.9 2,089.83,691.0 10.875%750,000,000GLAS Agency (Hong Kong) Limited 2. (iii) (i) (ii)28,798.316,969.3 2. (iii) (iii) (iv) 2. (iii) (v)(1)(2)(3)(4) 3. 3.1 3.2 • •• 3. 3.3 3.4 116,543,0003,740,000 876,211,0001,208,174,000 3. 3.5 5,251,00053,600,000 3. 3.5 3.6 4. ••••••• (a) 4. (a) 4. (a) 4. (a) 4. (a) (b) 90% (c) 10% 5. •••••••(i) 5. (ii) 6. 7. 8. 9. 10. 25%25% 15%15% 15% 10. 15% 175% 10%5% 30%60% 11. 12. 13. 14. 15. (a) 16. (b) 17. 3,7362,913 2,91312 18. a. 9668,099,000501,956,000 090 (b) 18. (c) 2,91317 8,300,0003,649,000 (d) (f) 18. (f) 19. 20. 21. (a)(b)(c) 22. 23. 23. (a) 23. (b) 33,224,660,00033,603,468,000 12%12% 5%5% 25. 200,000,0001,361,519,00010.875%100%11,465,000 32 26. 26. (a)(b)(c)5%10%10%50%50%10%(d)31(e) 27. a. (i) 22,281,120,00024,312,244,000(i)(ii) (ii) (iii) 20,643,697,00020,767,618,000 2,419,093,0002,355,385,000 27. b. 10.875%750,000,000GLAS Agency (Hong Kong) Limited 28. 13,000,000,000 (b) 16 28. (c) 13 29. 29. 1 30. 31. (a) 30% 1010(i)(ii)(iii) 31. (a) 31. 64,000,000250,300,0000.120,000,00028,000,0000.1 34,000,0000.1 31. (a) 134,422,010158,580,803 1,638,000 31. (b) 30% 1010 (i)(ii)(iii) 31. (b) 2,750,0008,700,0000.115.368,700,0002,750,00062,564,00022,241,000 31. (b) 2,980,0006,090,0009,070,000 (c) 31. (c) (i)0.1%(ii)5,000,000 1(i)(ii)(iii)10%10%30%1% 92,000,000142,000,0002.8%2.8% 50,000,000 31. (c) 31. (c) (i)12 (ii) 31. (d) (a)(b)(c) 32. (a) (i) 32. (b) (c) 33. C1 C3 13.51B(1)