為了便于大家了解融信的最新情況和管理層的想法，同時(shí)盡可能消除各類小道消息造成的噪音，與大家分享公司一些真實(shí)情況如下：

1、合約銷售：前9個(gè)月已經(jīng)累計(jì)實(shí)現(xiàn)超1220億、逾年度目標(biāo)76%。四季度將推貨超600億，含上海85億、杭州143億（含部分杭州第一批集中拍地項(xiàng)目），完成銷售目標(biāo)已近在咫尺。

2、新增拿地：公司三季度僅拿地27億（權(quán)益），平均樓面價(jià)7113元/平方米，四季度將繼續(xù)保持審慎的態(tài)度。

3、債務(wù)到期：四季度信用債到期僅有1.5億美金美元債、15億人民幣公司債。公司沒(méi)有任何未披露私募債券，報(bào)表已充分反映公司實(shí)際負(fù)債情況。

4、資金能力：非受限資金200多億+高效跨境資金池（最快隔天、最晚一周）+集團(tuán)統(tǒng)管資金調(diào)度。

5、三條紅線：預(yù)計(jì)年底繼續(xù)維持全部達(dá)標(biāo)，凈負(fù)債率、有息負(fù)債規(guī)模將進(jìn)一步下降。

6、境外評(píng)級(jí)：評(píng)級(jí)預(yù)期落地，已無(wú)利空催化劑。

7、二級(jí)維護(hù)：節(jié)前連續(xù)回購(gòu)票面800萬(wàn)美金美元債、今年累計(jì)回購(gòu)8250萬(wàn)美金，表明公司對(duì)于二級(jí)維護(hù)的態(tài)度一貫堅(jiān)定。

行業(yè)逆風(fēng)，大家一起同舟共濟(jì)，堅(jiān)持找到屬于我們共同的光。

Good evening, here is message from CFO XXX: 

My friends,Don’t panic. it is not the end of the world. I would like to give you more financial and business updates：

1、October contracted sales is so far so good and it is on the right track.

2、 we expect to utilize less than 25% of sales proceeds on land bank acquisition vs original budget of 35-40%. Such practice will release an extra free cash of RMB10b for refinancing activities or general working capital.

3、 we now have a total cash balance of RMB43b and we decide to keep a special basket of US1b for offshore refinancing activities. The special basket monies can be transferred to HK in a week! Zhenro is well equipped for this turmoil.

4、Zhenro has NO unlisted private bonds. All bonds are listed and can be found on BBG.

5、 expected total debt as of Dec will be decreased and even much lower than 2021 interim. Cash to ST debt is at least 2times.

6、Discussed with rating agencies and no negative action is noted.

7、we are focusing to sell our completed and almost fully completed inventories so that the respective cash proceeds will not be grouped under restricted cash by local government. The total amount is approx RMB20b.

Closing remark: we are on the same boat and we will go to the final destination together. Take care.

各位投資者、分析師朋友，大家早上好。

在過(guò)去的三天里，中資美元債市場(chǎng)經(jīng)歷了巨大的波動(dòng)，行業(yè)的信用受到了前所未有的挑戰(zhàn)，謠言在各處肆意傳播傳播，有的無(wú)中生有，有的空穴來(lái)風(fēng)，市場(chǎng)信心變得極其敏感和脆弱。所以在這里，公司對(duì)于投資者比較關(guān)心的一些傳言進(jìn)行澄清和說(shuō)明，并就當(dāng)前市場(chǎng)下公司的經(jīng)營(yíng)情況向大家做一個(gè)匯報(bào)，便于大家及時(shí)理解公司最新狀況：

1、抖音視頻傳公司“鄭州陽(yáng)光城二期處于停工狀態(tài)，房屋無(wú)限期交房”，實(shí)際情況為項(xiàng)目并未停工，鄭州由于受到突發(fā)的水災(zāi)及疫情影響，該項(xiàng)目原定合同交付日期為2021年12月31日，現(xiàn)經(jīng)地方政府同意，延遲至2022年5月份前交付，公司已通過(guò)函件等方式告知客戶。后客戶與銷售人員在案場(chǎng)因口角引發(fā)沖突，銷售人員一時(shí)激動(dòng)說(shuō)出不合適言語(yǔ)，確實(shí)非常不應(yīng)該。后續(xù)公司會(huì)加強(qiáng)對(duì)于案場(chǎng)銷售人員的教育和管理。

2、另多個(gè)抖音視頻以相同文案?jìng)鳌澳?0強(qiáng)閩系房企華北區(qū)域項(xiàng)目全部停工”，并暗指公司。截止目前，華北地區(qū)（京津冀、山西）總項(xiàng)目貨值占集團(tuán)總貨值6.8%左右，公司在該地區(qū)所有項(xiàng)目施工進(jìn)度正常，其中北京京悅府、國(guó)譽(yù)未來(lái)悅、天津北辰翡麗公園等項(xiàng)目在國(guó)慶期間的案場(chǎng)到訪以及認(rèn)購(gòu)情況再創(chuàng)新高，總體運(yùn)營(yíng)狀況一切如期推進(jìn)，我們歡迎投資者前往項(xiàng)目案場(chǎng)實(shí)地進(jìn)行考察。

3、網(wǎng)傳“公司表外信托獲得展期”，公司在此聲明，這是不實(shí)信息。根據(jù)深交所上市指引及民法典規(guī)定，公司所有對(duì)外負(fù)債擔(dān)保都應(yīng)通過(guò)上市公司有權(quán)機(jī)構(gòu)（即股東大會(huì)）授權(quán)決議并公告，否則無(wú)效，上市公司所有應(yīng)披露的對(duì)于合聯(lián)營(yíng)項(xiàng)目公司的擔(dān)保都已披露，公司從未進(jìn)行所謂“表外私募債”方式進(jìn)行融資。同時(shí)，信托貸款的信托計(jì)劃面對(duì)的投資者主要為高凈值自然人，一旦展期需要獲得全體投資者同意，并非傳言所言可以由信托公司單方面決定是否展期。

與此同時(shí)，還想跟各位分享一下公司的總體經(jīng)營(yíng)情況：

首先，在9月份的銷售沖刺業(yè)績(jī)中，公司取得單月銷售210億元，同比增長(zhǎng)11%，單月回款約165億，月度回款率78.5%的成績(jī)，全年累計(jì)已經(jīng)完成了1539億的銷售業(yè)績(jī)，正努力實(shí)現(xiàn)完成年初制定的銷售目標(biāo)，國(guó)慶期間我們的銷售依然取得不菲的成績(jī)，待數(shù)據(jù)公布以后我們會(huì)第一時(shí)間與大家分享；

其次，在公開兌付方面，公司四季度到期的債務(wù)情況為：境內(nèi)公司債15.8億元，信用類ABS12.7億元，境外美元債2.5億美元，總體壓力和回款相比并不大，公司已經(jīng)做好了所有的資金鋪排，通過(guò)經(jīng)營(yíng)性回款以及自有資金進(jìn)行兌付。其中10月22日到期的境內(nèi)公開債券“18陽(yáng)城01”我們將于10月15日前提前將兌付資金歸集至監(jiān)管賬戶，境外回售的美元債券資金我們將在10月中下旬前陸續(xù)通過(guò)資金池匯出，目前公司存量跨境資金池額度充裕，且資金出境不存在任何障礙。年初至今，公司已經(jīng)多次宣布回購(gòu)境內(nèi)外債券，彰顯公司信心；

再之，公司在四季度的新增投資活動(dòng)中會(huì)繼續(xù)保持謹(jǐn)慎的態(tài)度，繼續(xù)堅(jiān)持以收定支，加大回款指標(biāo)考核，四季度新增在手存量項(xiàng)目的供貨目標(biāo)為450億，全力確保業(yè)績(jī)達(dá)成。

最后，我們代表公司管理層向各位投資者轉(zhuǎn)達(dá)：目前，行業(yè)的前景存在諸多的不確定性，但我們依然相信地產(chǎn)這個(gè)行業(yè)是最重要的民生行業(yè)，所以在每一次調(diào)整中，更讓我們清晰清楚的去認(rèn)知這個(gè)行業(yè)的本質(zhì)，去一起重塑這個(gè)行業(yè)的價(jià)值觀。

我們始終堅(jiān)信，只要對(duì)這個(gè)行業(yè)的本質(zhì)有清醒的認(rèn)知，尊重行業(yè)，順勢(shì)發(fā)展，能在生態(tài)中找準(zhǔn)定位，和神隊(duì)友一起成長(zhǎng)，就一定能共同分享時(shí)間和成長(zhǎng)的價(jià)值。

沒(méi)有生而優(yōu)秀的企業(yè)，只有持續(xù)養(yǎng)成的信用。公司確實(shí)有很多不足的地方，但我們???會(huì)正視自身的不足，做到足夠靈敏，及時(shí)糾偏，保持斗志。感謝在此過(guò)程中的每一份指點(diǎn)和助力，你們都是陽(yáng)光城發(fā)展過(guò)程中不可或缺的力量，我們共同努力和鑒證，謝謝大家！

Dear investors and analysts, good evening. 

各位投資者、分析師朋友們，大家晚上好。

We would like to thank you all for your continuous interest and support of Yuzhou Group (01628.HK),and for your timely communication with us. As the entire domestic real estate high-yield US dollar bond market has been highly volatile recently, we understand your concerns and we are expecting the silver lining same as you. Therefore, we would like to take this opportunity to share with you some financial and business updates of the Company, in the hope that you will have the confidence and continue to support the long-term and stable development of the Company.

由衷感謝大家對(duì)禹洲集團(tuán)（01628.HK）的持續(xù)關(guān)心和支持，并及時(shí)與我們溝通交流。近期整個(gè)內(nèi)房高收益美元債市場(chǎng)波動(dòng)較大，理解各位心中的擔(dān)憂，并跟我們一樣期待盡快看到曙光，故借此機(jī)會(huì)將公司最新情況與各位分享，希皇給到大家信心，繼續(xù)支持公司長(zhǎng)期穩(wěn)健發(fā)展∶

1.Yuzhou Group is one of the few domestic real estate companies that never have any commercial bills, internal wealth management or other wealth management products, and the majority shareholders have not sold or pledged a single share since its listing. Yuzhou Group's debt structure is very transparent, with trust loans size continuing to reduce to RMB1,345 million as of 1H2021, which is a relatively low level in the industrv. Also.the average maturity of offshore USdollar bond continues to be optimized to over 3 years.

禹洲集團(tuán)是內(nèi)房企業(yè)里一家為數(shù)不多沒(méi)有任何的商票、內(nèi)部理財(cái)或其他財(cái)富產(chǎn)品的公司，且大股東自上市后沒(méi)有出售或質(zhì)押過(guò)任何一股股票。禹洲集團(tuán)的債務(wù)結(jié)構(gòu)是極為透明的，截至2021年中期，信托持續(xù)減少至人民幣13.45億，為行業(yè)較低水平;境外美元債的平均到期年限也在持續(xù)優(yōu)化，超過(guò)3年。

2. Debt Maturity: Following the successful redemption of RMB2 billion of domestic corporate bonds last week, the Company has now redeemed all its domestic and offshore debts due in 2021.All of principal and interest were paid on schedule, and some were even transferred to the custodian's account half a month in advance, demonstrating the Group's good liquidity. As of 1H2021, the Company has RMB28.1 billion cash in hand. The cash flow is flexible and sufficient enough to support debts redemption in 2022 and even later.

債務(wù)到期∶繼上周順利贖回人民幣20億的境內(nèi)公司債，至此，公司已經(jīng)贖回了境內(nèi)外2021年內(nèi)到期的所有債務(wù)，全部按期還本付息，有的甚至提前半個(gè)月轉(zhuǎn)錢到托管人賬戶，彰顯集團(tuán)良好的流動(dòng)性。截至2021年中期，公司手上擁有人民幣281億，現(xiàn)金流靈活充裕，足夠應(yīng)對(duì)2022年，甚至未來(lái)更遠(yuǎn)期的債務(wù)償還。

3. Secondary market maintenance: The Company has been committed to maintenance of the secondary market. Up to now, the Company has used its own cash to repurchase a total of US$45.5 million of offshore US dollar bonds. Mr.Lam Lung On, the Chairman of Yuzhou Group, has increased shares with 8.3 million company's stocks by his own account. In the future, the Company will continue to open with repurchasing bonds and shares in the public market through the Group, major shareholders and strive to safeguard the interests of all investors.

二級(jí)維護(hù)∶公司一直致力于對(duì)二級(jí)市場(chǎng)的維護(hù)，截至目前，公司用自有現(xiàn)金累計(jì)回購(gòu)了4550萬(wàn)美元的境外美元債，董事長(zhǎng)林龍安先生更是以個(gè)人名義累計(jì)回購(gòu)了830萬(wàn)股公司股票。未來(lái)，公司對(duì)回購(gòu)繼續(xù)保持開放態(tài)度，會(huì)在合適的時(shí)機(jī)通過(guò)集團(tuán)、大股東個(gè)人、員工股份獎(jiǎng)勵(lì)計(jì)劃等方式在公開市場(chǎng)進(jìn)行回購(gòu)，致力維護(hù)各大投資者利益。

4.Overall ratings: The Company continues to maintain good communication with overall rting agencies. After the 2021 interim results announcement, the Company's rating remains stable, and the rating agencies have confidence in the Company's development and future plans.

境內(nèi)外評(píng)級(jí)∶公司與境內(nèi)外評(píng)級(jí)機(jī)構(gòu)持續(xù)保持良好溝通，在2021年中期業(yè)績(jī)后，評(píng)級(jí)情況穩(wěn)定，評(píng)級(jí)機(jī)構(gòu)均認(rèn)可公司發(fā)展以及對(duì)未來(lái)規(guī)劃的信心。

5. Contracted sales: The contracted sales in the first eight months of 2021 reached RMB71.4 billion, up by 9.2% year-on-year. At present, the contracted sales in September is in line with our expectations, and the details will be announced in the next few days. At the same time, the overall saleable resources of Yuzhou Group in the second half of this year is approximately RMB130 billion, which means, the Company will only needs to complete a sell-through rate of 45% to meet the full-year target. So, the Group is very confident to successfully achieve the annual goal.

合約銷售∶2021年前8月合約銷售達(dá)人民幣714億元，同比增加9.2%，目前來(lái)看，9月的銷售情況同樣符合我們的預(yù)期，具體數(shù)據(jù)將在近幾天公告。同時(shí)，禹洲集團(tuán)今年下半年整體可售貨值約為人民幣1，300億元，只需完成45%的去化便能夠完成年度任務(wù)，可以說(shuō)非常有信心圓滿完成全年目標(biāo)。

6.Land acquisition: Yuzhou Group did not acquire new land parcels in the third quarter. In this year, the Company has only acquired four high quality land (two in Suzhou, one in Zhengzhou, and one in the Greater Bay Area) with attributable land cost of approximately RMB2.1 billion and a total saleable resources of approximately RMB11.1 billion,all located in tier-1, tier-2 and quasi-tier-2 cities. In the future, the Company will continue to maintain a prudent attitude in land acquisition and developed steadily.

新增拿地∶公司三季度無(wú)新增土地，今年以來(lái)，公司僅新增四塊優(yōu)質(zhì)土地（蘇州兩塊，鄭州一塊，大灣區(qū)一塊），權(quán)益地價(jià)約21億元，總貨值約111億元，均位于抗風(fēng)險(xiǎn)能力較強(qiáng)的一二線及準(zhǔn)二線城市。接下去公司將繼續(xù)保持審慎的態(tài)度拿地，量入為出，穩(wěn)健前行。

7. Three red lines: On the basis of that both net gearing ratio and cash to short-term debt ratio have up to the standard, through increasing of sales, profit carry-forward and continuous optimization of debt structure, the Company will strive to get the liability-to-asset ratio (excluding advance receipts) to reach the standard by the end of this year and achieve full compliance with the three red lines.

三條紅線∶公司將在凈負(fù)債率和現(xiàn)金短債比都達(dá)標(biāo)的基礎(chǔ)上，通過(guò)銷售的提升、利潤(rùn)結(jié)轉(zhuǎn)和債務(wù)結(jié)構(gòu)持續(xù)優(yōu)化，力爭(zhēng)剔除預(yù)收款后的資產(chǎn)負(fù)債率將于今年年底達(dá)標(biāo)。