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 2026 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 2026 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 30 September 2026 2025 HK$ '000 HK$ '000 Change Revenue 5,367,007 6,728,203 -20.2% Gross profit 1,407,760 2,397,383 -41.3% Profit/(loss) attributable to owners of the Company 258,188 (16,165) N/A As at 30 September 2026 As at 31 December 2025 HK$ '000 HK$ '000 Change Total assets 30,666,373 33,553,248 -8.6% Equity attributable to owners of the Company 3,484,723 3,048,830 +14.3% Net asset value per share# (HK$) 2.04 1.78 +14.6% # 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 2026 , the consolidated revenue of the Group was approximately HK$5,367 million (nine months ended 30 September 2025: HK$6,728 million), representing a decrease of approximately 20.2% from the same period last year. The decrease in revenue was mainly attributable to the decrease in the sale of gross floor area (“ GFA”) of properties held for sale. During the period under review, the Group recorded a profit attributable to owners of the Company of approximately HK$258 million (nine months ended 30 September 2025: loss of HK$16 million). The major factors affecting the results of the Group for the nine months ended 30 September 2026 include the following: (a) due to the latest real estate market conditions and the indication of impairment in certai n property projects of the Group, the Group recognised an inventory impairment provision of approximately HK$ 127 million during the period under review ( nine months ended 30 September 2025: HK$1,097 million); (b) the Group recorded fair value losses on in vestment properties (net of relevant deferred tax expenses) of approximately HK$13.34 million during the period under review (nine months ended 30 September 2025: HK$99.12 million); and (c) the properties delivered by the Group during the period under review were mainly the Foshan One Mansion Project and the Guangzhou GDH Future City Project; among which the Guangzhou GDH Future City Project had higher gross profit margins, with a decrease in the GFA delivered during the period under review, therefore the profit derived from the sale of properties decreased as compared to the same period in 2025.
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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 Completed Residential/ Commercial/Offices 51% 154,414 118,122 N/A Zhuhai City Zhuhai Laurel House Completed Residential/ Commercial 100% 248,598 167,278 N/A 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) 114,986 670 113,632 98.8% 249 113,211 98.5% Shenzhen GDH City (Northern Land) 84,246 - 84,246 100.0% - 84,246 100.0% Guangzhou City Guangzhou GDH Future City 491,197 19,270 185,218 37.7% 48,437 126,966 25.8% Guangzhou GDH Future City (Car-parking spaces) 64,734 3,765 9,188 14.2% 1,853 1,853 2.9% Guangzhou Laurel House (Car-parking spaces) 2,764 - 2,711 98.1% - 2,711 98.1% Ruyingju (Car-parking spaces) 8,052 12 6,730 83.6% 12 6,730 83.6% Baohuaxuan (Car-parking spaces) 245 - 38 15.5% - 38 15.5% Foshan City Foshan Laurel House 146,382 15,242 132,056 90.2% 16,478 126,626 86.5% Foshan Laurel House (Car-parking spaces) 9,914 1,072 8,004 80.7% 1,352 7,877 79.5% Foshan One Mansion 117,692 11,336 69,881 59.4% 50,039 66,382 56.4% Foshan One Mansion (Car-parking spaces) 7,494 1,615 1,615 21.6% 1,043 1,043 13.9% Zhuhai City Zhuhai Laurel House 145,764 15,302 116,460 79.9% 18,746 111,181 76.3% Zhongshan City Zhongshan GDH City 236,728 14,934 138,375 58.5% 15,364 127,781 54.0% Zhongshan GDH City (Car-parking spaces) 40,752 6,658 6,658 16.3% 4,383 4,383 10.8% Jiangmen City Jiangmen One Mansion 158,407 2,008 155,529 98.2% 3,934 153,370 96.8% Jiangmen One Mansion (Car-parking spaces) 37,574 5,751 17,233 45.9% 5,693 16,978 45.2% Jiangmen GDH City (Land No. 3) 119,354 4,616 117,270 98.3% 6,210 114,929 96.3% Jiangmen GDH City (Land No. 3) (Car-parking spaces) 29,895 4,506 16,325 54.6% 4,220 15,391 51.5% Jiangmen GDH City (Land No. 4) 204,229 11,073 82,187 40.2% 11,153 77,683 38.0% Jiangmen GDH City (Land No. 4) (Car-parking spaces) 40,403 2,469 4,857 12.0% 1,922 3,618 9.0% 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 89,240 16,275 59,659 66.9% 17,187 56,611 63.4% Huizhou Huiyang Lijiang Garden (Car-parking spaces) 1,504 13 255 17.0% 13 255 17.0%
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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 approxima tely 137,000 square metres (“ sq. m. ”) (nine months ended 30 September 2025: 168,000 sq. m.) and 208,000 sq. m. (nine months ended 30 September 2025: 214,000 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 superstructures and the renovation and masonry works of the properties on Land No. 4 were being carried out. 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 30 September 2026, the Group held completed properties for sale amount ed to approximately HK$8,952 million (31 December 202 5: HK$11,702 million) and properties for sale under development amount ed to approximately HK$ 8,512 million (31 December 202 5: HK$8,562 million), with a total amount of approximately HK$ 17,464 million (31 December 2025: HK$ 20,264 million). Amongst them, the sales amount of properties that have been contracted and received but have not yet been delivered was approximately HK$3,357 million (31 December 2025: HK$5,972 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 2026 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 2026. 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, 26 October 2026 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. ZHANG Xiaoli; and three Independent Non -Executive Directors, namely Mr. Felix FONG Wo, Mr. Vincent Marshall LEE Kwan Ho and Mr. LEUNG Luen Cheong.