The company and its board of directors guarantee the truthfulness, accuracy, and completeness of the contents of this announcement, and assume responsibility for any significant omissions or misrepresentations.
Rongfeng Holding Group Co., Ltd. (hereinafter referred to as "the Company") received the inquiry letter from the Shenzhen Stock Exchange on April 17, 2026, regarding the "2025 Annual Report." After receiving the inquiry letter, the Company collected relevant information and responded to the inquiry letter (Inquiry Letter No. 2026-1) and submitted the response to the Shenzhen Stock Exchange. The main contents of the response are as follows:
- The Company's actual sales revenue for 2025 is projected to be 3.22 billion yuan. Please clarify the specific situation regarding the sales of real estate in 2025, including the main sales projects, sales area, sales amount, unit price, and profit margin, compared to the situation in 2024. Please explain the reasons for the changes in sales revenue and gross profit margin, and clarify the main sources of sales revenue. Please confirm the points, clarify the evidence, and confirm whether the revenue is recognized correctly.
The Company replies:
1. Specific Situation of Real Estate Sales in 2025
The reported period shows that the main sales projects of the Company include the Changchun International Financial Center (hereinafter referred to as "Changchun Center") with a sales area of 30,828.04 square meters, an increase of 655.14% compared to the previous year. The average sales price is 8,295.64 yuan/square meter, a decrease of 2.49% compared to the previous year. The actual sales revenue is 255,738,437.03 yuan. The sales revenue of the Beijing Rongfeng Jiahua Project (residential project) is 1,524.55 square meters, with sales revenue of 6,601,947.00 yuan.
2. Comparison of 2025 Real Estate Sales Data with 2024
| Item | 2025 | 2024 | Change | 2025 | 2024 | Change |
|---|---|---|---|---|---|---|
| Sales Area (m²) | 30,828.04 | 4,084.00 | 655.14% | 1,524.55 | 1,524.55 | 0.00% |
| Sales Revenue (yuan) | 255,738,437.03 | 34,730,000.00 | 636.36% | 6,601,947.00 | 6,601,947.00 | 0.00% |
| Average Sales Price (yuan/m²) | 8,295.64 | 8,507.15 | -2.49% | 43,651.89 | 44,761.90 | -2.48% |
| Gross Profit Margin | 6.25% | -47.00% | 113.30% | 87.30% | -0.45% | 0.00% |
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The Changchun International Financial Center project has a sales area of 30,828.04 square meters, with an increase of 655.14% compared to the previous year. The average sales price is 8,295.64 yuan/square meter, a decrease of 2.49% compared to the previous year. The actual sales revenue is 255,738,437.03 yuan, with an increase of 636.36%.
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The Beijing Rongfeng Jiahua project has a sales area of 1,524.55 square meters, with an increase of 944.50% compared to the previous year. The actual sales revenue is 6,601,947.00 yuan, with an increase of 918.60%.
The project started in 2000 and was completed in 2004, located in the Beijing West City District. The project includes various types of residential buildings. The sales area is 156-235 square meters, with a price range of 70,000 yuan/square meter. The Company has established a stable investment structure to enhance the market competitiveness of the project.
3. Reasons for the Increase in Revenue and Gross Profit Margin in 2025
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The increase in revenue in 2025 is due to the promotion of sales strategies and the expansion of sales channels. The Company has actively promoted its projects and strengthened its marketing efforts.
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The gross profit margin is expected to increase due to the improvement in the sales structure and cost control measures.
4. Revenue Recognition and Compliance with Accounting Policies
According to the Company's revenue recognition policy, revenue is recognized when the customer has accepted the property. The Company will ensure that the revenue recognition complies with the relevant accounting standards.