China Union Holdings Ltd.

China Union Holdings Ltd., also known as Hualian Holdings, is a publicly traded company listed on the Shenzhen Stock Exchange since June 1994. The company has undergone significant transformations since its inception, transitioning from its original focus on synthetic fibers to a diversified portfolio that includes textile and apparel, petrochemicals, and primarily real estate. Hualian Holdings is controlled by Hualian Development Group Co., Ltd., which holds a substantial share of the company. The company's main business lines include real estate development and property management services, with projects located in major cities such as Shenzhen, Hangzhou, and Shanghai. Hualian Holdings owns numerous commercial buildings and properties, boasting total assets that have grown significantly since its listing. The company adheres to a strategy that emphasizes stability in real estate while pursuing growth through industrial transformation, including investments in sectors like lithium extraction, augmented reality, and modern agriculture. This approach aims to enhance its sustainable development capabilities and create new profit growth drivers.

In recent years, the company has delivered substantial cash dividend returns to its shareholders. From 2016 to 2022, the company achieved a total net profit attributable to shareholders of RMB 5.872 billion and distributed cumulative cash dividends of RMB 2.684 billion, resulting in an average dividend payout ratio of 45.71% – a figure that ranks among the highest in both the industry and the broader market. Between January 2024 and July 2025, the company conducted two share repurchases totaling over 100 million shares, representing 7.12% of its then-total share capital, with a transaction value of approximately RMB 330 million. In July 2025, the company canceled more than RMB 80 million of these repurchased shares, simultaneously reducing its registered capital by approximately RMB 247 million (equivalent to 5.4% of the then-total share capital), with the repurchase and cancellation treated as cash dividends. From its listing in 1994 to 2025, the company has distributed a total cash dividend of RMB 2.994 billion. Through initial public offerings, two private placements, and equity incentive plans, it raised RMB 1.086 billion in total, with cash dividend payments amounting to 2.8 times the total raised funds. These measures—including cash dividends, share repurchases, and share cancellations—demonstrate the company's firm confidence in its future growth and its strong commitment to shareholder value. By repurchasing and canceling shares, the company has optimized its equity structure, improved earnings per share, and enhanced its intrinsic value. These actions also send positive signals to the market, boosting investors' long-term confidence and creating a favorable environment for the company's sustainable and stable development. Adhering to a prudent and high-quality development philosophy, the company pursues its business strategy of "ensuring stability through real estate while driving growth through transformation." It closely monitors market trends and industry policy developments, focusing on project development and property sales to strengthen its core business foundation. Simultaneously, the company actively promotes industrial transformation, having made investments and strategic deployments in sectors such as lithium extraction from salt lakes, AR glasses, and modern agriculture, thereby cultivating new profit growth drivers and enhancing its sustainable development capabilities.