Earnings release
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1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (Incorporated in Bermuda with limited liability) (Stock Code: 00124) Unaudited Financial Information for the nine months ended 30 September 2025 The board of directors (the “ Board”) of Guangdong Land Holdings Limited (the “ Company”) announces the unaudited financial information of the Company and its subsidiaries (the “Group”) for the nine months ended 30 September 2025 together with comparative figures. This announcement is made by the Company on a voluntary basis in pursuance of its policy to achieve a higher level of corporate governance. FINANCIAL HIGHLIGHTS For the nine months ended 31 September 2025 2024 HK$ '000 HK$ '000 Change Revenue 6,728,203 4,043,416 +66.4% Gross profit 2,397,383 217,832 +1,000.6% Fair value losses on investment properties (132,161) (34,438) +283.8% Loss attributable to owners of the Company (16,165) (190,715) -91.5% As at 30 September 2025 As at 31 December 2024 HK$ '000 HK$ '000 Change Total assets 35,400,063 40,560,174 -12.7% Equity attributable to owners of the Company 3,593,656 3,556,768 +1.0% Net asset value per share# (HK$) 2.10 2.08 +1.0% # Net asset value per share = Equity attributable to owners of the Company Number of issued shares
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2 RESULTS For the nine months ended 30 September 2025, the consolidated revenue of the Group was approximately HK$6,728 million (nine months ended 30 September 2024: HK$4,043 million), representing an increase of approximately 66.4% from the same period last year. The increase in revenue was mainly attributable to the increase in the sale of gross floor area (“ GFA”) of properties held for sale. During the period under review, the Group recorded a loss attributable to owners of the Company of approximately HK$16 million (nine months ended 30 September 2024: HK$191 million). The major factors affecting the results of the Group for the nine months ended 30 September 2025 include the following: (a) the properties delivered by the Group during the period under review were mainly the Guangzhou GDH Future City Project, Huizhou One Mansion Project and Foshan Laurel House Project, among which the Guangzhou GDH Future City Project had higher gross profit m argins, therefore the profit derived from the sale of properties increased as compared to the same period in 2024; (b) due to the latest real estate market conditions and the indication of impairment in certain property projects of the Group, the Group re cognised an inventory impairment provision of approximately HK$1,097 million during the period under review ( nine months ended 30 September 2024: nil); and (c) the Group recorded a fair value loss on investment properties (net of relevant deferred tax expenses) of approximately HK$9 9.12 million during the period under review ( nine months ended 30 September 2024: HK$25.83 million).
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3 BUSINESS REVIEW General Information of the Projects Interest held by the Group Approximate GFA of project Approximate GFA included in calculation of plot ratio* Expected completion and filing date Name of the property project Status Use (sq. m.) (sq. m.) Shenzhen City Shenzhen GDH City (Northwestern Land) Completed Business apartment/ Commercial 100% 167,376 122,083 N/A Shenzhen GDH City (Northern Land) Completed Commercial/ Offices 100% 219,864 153,126 N/A Shenzhen GDH City (Southern Land) Completed Commercial/ Offices 100% 255,373 206,618 N/A Guangzhou City Guangzhou GDH Future City Sale in progress Residential/ Business apartment/ Commercial/ Offices 100% 726,990 506,000 2028 Guangzhou Laurel House Completed Car-parking spaces 100% N/A N/A N/A Ruyingju Completed Car-parking spaces 80% N/A N/A N/A Baohuaxuan Completed Car-parking spaces 100% N/A N/A N/A Foshan City Foshan Laurel House Completed Residential 100% 203,171 151,492 N/A Foshan One Mansion Sale in progress Residential/ Commercial/Offices 51% 154,414 118,122 2026 Zhuhai City Zhuhai Laurel House Sale in progress Residential/ Commercial 100% 248,598 167,278 2025 Zhongshan City Zhongshan GDH City Sale in progress Residential 97.64% 321,456 247,028 2026 Jiangmen City Jiangmen One Mansion Completed Residential/ Business apartment/ Commercial/ 100% 222,708 164,216 N/A Jiangmen GDH City (Land No. 3) Completed Residential 51% 163,181 122,331 N/A Jiangmen GDH City (Land No. 4) Sale in progress Residential/ Business apartment/ Commercial 51% 299,029 207,419 2029 Jiangmen GDH City (Land No. 5) To be developed Residential 51% 89,201 63,150 2029 Huizhou City Huizhou One Mansion Completed Residential/ Business apartment/ Commercial 100% 140,163 92,094 N/A Huizhou Huiyang Lijiang Garden Completed Car-parking spaces 100% N/A N/A N/A *Note: Including (1) underground commercial area of the Shenzhen GDH City Project with a GFA of 30,000 sq. m.; and (2) common area and area transfer to the government of each project.
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4 Sales of the Projects Name of the property project Approximate GFA available for sale Approximate GFA contracted The proportion of accumulated GFA contracted to GFA available for sale Approximate GFA delivered The proportion of accumulated GFA delivered to GFA available for sale Period under review Accumulated Period under review Accumulated (sq. m.) (sq. m.) (sq. m.) (sq. m.) (sq. m.) Shenzhen City Shenzhen GDH City (Northwestern Land) 114,986 7,193 112,105 97.5% 6,844 111,756 97.2% Shenzhen GDH City (Northern Land) 84,246 24,234 60,182 71.4% 24,234 60,182 71.4% Guangzhou City Guangzhou GDH Future City 491,197 29,643 157,800 32.1% 50,825 66,157 13.5% Guangzhou GDH Future City (Car-parking spaces) 64,734 4,791 4,791 7.4% N/A N/A N/A Guangzhou Laurel House (Car-parking spaces) 2,764 13 2,711 98.1% 13 2,711 98.1% Ruyingju (Car-parking spaces) 8,052 24 6,706 83.3% 24 6,706 83.3% Baohuaxuan (Car-parking spaces) 245 - 38 15.5% - 38 15.5% Foshan City Foshan Laurel House 146,382 13,033 111,318 76.0% 25,143 103,172 70.5% Foshan Laurel House (Car-parking spaces) 9,914 1,514 6,614 66.7% 1,565 5,889 59.4% Foshan One Mansion 117,692 16,472 54,840 46.6% N/A N/A N/A Zhuhai City Zhuhai Laurel House 145,773 11,813 93,615 64.2% 12,477 85,162 58.4% Zhongshan City Zhongshan GDH City 236,728 14,474 119,439 50.5% 15,973 107,476 45.4% Jiangmen City Jiangmen One Mansion 158,407 6,275 151,876 95.9% 14,103 147,413 93.1% Jiangmen One Mansion (Car-parking spaces) 37,574 606 11,310 30.1% 1,356 10,997 29.3% Jiangmen GDH City (Land No. 3) 119,334 5,376 110,059 92.2% 8,295 107,078 89.7% Jiangmen GDH City (Land No. 3) (Car-parking spaces) 29,895 870 11,505 38.5% 1,255 10,864 36.3% Jiangmen GDH City (Land No. 4) 204,229 16,242 67,751 33.2% 17,612 63,020 30.9% Jiangmen GDH City (Land No. 4) (Car-parking spaces) 40,403 2,281 2,281 5.6% 1,639 1,639 4.1% Jiangmen GDH City (Land No. 5) 42,254 N/A N/A N/A N/A N/A N/A Huizhou City Huizhou One Mansion 89,444 13,277 38,064 42.6% 32,355 32,355 36.2% Huizhou Huiyang Lijiang Garden (Car-parking spaces) 1,504 13 242 16.1% 13 242 16.1%
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5 During the period under review, the Group’s properties recorded a total GFA contracted (including completed properties held for sale and properties held for sale under development) and delivered of approximately 168,000 square metres (“ sq. m. ”) (nine months ended 30 September 2024: 212,000 sq. m.) and 214,000 sq. m. (nine months ended 30 September 2024: 210,000 sq. m.) respectively. Construction Status of the Uncompleted Projects Name of the property project Construction status Guangzhou City Guangzhou GDH Future City The filing for completion of construction of all properties on Land No. 9 and No. 11 have been made; the construction works of basement and superstructures of the properties on Land No. 4 were being carried out. Foshan City Foshan One Mansion The superstructures of all properties were topped out and the renovation and masonry works were in progress. Zhuhai City Zhuhai Laurel House The filing for completion of construction of the first phase properties was made; the superstructures of other phase properties were topped out and the renovation and masonry works were in progress. Zhongshan City Zhongshan GDH City The filing for completion of construction of the first phase properties was made; the superstructures of other phase properties were topped out and the renovation and masonry works were in progress. Jiangmen City Jiangmen GDH City (Land No. 4) The filing for completion of construction of all properties on 4-1, 4-2, 4-5 and 4-6 parcels have been made; 4-3 and 4-4 parcels would be developed. Jiangmen GDH City (Land No. 5) To be developed. FINANCIAL REVIEW As at 3 0 September 2025, the Group held completed properties for sale amount ed to approximately HK$11,653 million (31 December 2024: HK$12,849 million) and properties for sale under development amount ed to approximately HK$ 10,005 million (31 December 202 4: HK$13,147 million), with a total amount of approximately HK$21,658 million (31 December 2024: HK$ 25,996 million). Amongst them, the sales amo unt of properties that have been contracted and received but have not yet been delivered was approximately HK$6,510 million (31 December 2024: HK$9,386 million), which was stated as contract liabilities and would be recognised as revenue upon delivery of the relevant properties.
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6 CAUTION STATEMENT The Board wishes to remind shareholders of the Company and potential investors that the above financial information is based on the Company’s internal records and management accounts. The above financial information for the nine months ended 30 September 2025 has not been audited or reviewed by the external auditor of the Company. Accordingly, any information contained in this announcement should in no way be regarded as to provide any indication of or assurance on the financial information of the Group for the nine months ended 30 September 2025. Shareholders of the Company and potential investors are urged to exercise caution in dealing in the securities of the Company and are recommended to consult their own professional advisers if they are in doubt as to their investment positions. By Order of the Board Guangdong Land Holdings Limited ZHONG Yubin Chairman Hong Kong, 27 October 2025 As at the date of this announcement, the Board comprises two Executive Directors, namely Mr. ZHONG Yubin and Mr. WANG Jian; two Non-Executive Directors, namely Mr. WEN Yinheng, and Ms. WANG Surong; and three Independent Non -Executive Directors, namely Mr. Felix FONG Wo, Mr. Vincent Marshall LEE Kwan Ho and Mr. LEUNG Luen Cheong.