Securities Code: 002305 Securities Abbreviation: *ST NanZhi Announcement No.: 2026-010
Nan Guo Real Estate Co., Ltd. Announcement on Uncovered Losses Reaching One-Third of Paid-in Capital
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from any false representations, misleading statements, or material omissions.
Nan Guo Real Estate Co., Ltd. (hereinafter referred to as the "Company") held the third meeting of the seventh Board of Directors on April 27, 2026, and reviewed and approved the "Proposal on Uncovered Losses Reaching One-Third of Paid-in Capital." This proposal needs to be submitted for deliberation by the Company's shareholders' meeting. The specific situation is announced as follows:
I. Overview
According to the audit report issued by Lixin Certified Public Accountants (Special General Partnership), as of December 31, 2025, the Company's consolidated retained earnings were -7,389,189,116.13 yuan, and the paid-in capital was 1,734,215,770.00 yuan. The amount of uncovered losses has exceeded one-third of the paid-in capital.
II. Main Reasons for Losses
- Affected by the overall real estate market, the gross profit margin of the Company's real estate development business decreased in 2025, leading to increased losses in development operations.
- The Company conducted impairment tests on various assets and, based on the principle of prudence, made relevant impairment provisions.