CHINASOUTHCITY (01668) announced that on August 11, 2025, the seller (Harbin CHINASOUTHCITY Co., Ltd., an indirect wholly-owned subsidiary of the company) entered into Equity Transfer Agreement A with the buyer (Harbin Guangmai Real Estate Agency Co., Ltd.). The seller will transfer 100% equity of Project Company A (Heilongjiang Wanbang Jiye Real Estate Development Co., Ltd.) to the buyer, with Project Company A holding Asset A, for a consideration of RMB 72 million.

On September 19, 2025, the seller and buyer entered into Equity Transfer Agreement B. The seller will transfer 100% equity of Project Company B (Heilongjiang Dingrong Real Estate Development Co., Ltd.) to the buyer, with Project Company B holding Asset B, for a consideration of RMB 145 million.

"Asset A" refers to Plot 01 and Plot 03, known as the C22 plot of the 1668 Industrial Park project, located in Tuanjie Town, Daowai District, Harbin City, Heilongjiang Province, China, with a planned land area of 13,000 square meters, total construction area of 8,700 square meters, and floor area ratio construction area of 8,200 square meters. "Asset B" refers to the asset named Premium District D project, located in Tuanjie Town, Daowai District, Harbin City, Heilongjiang Province, China, with a planned land area of 118,000 square meters, total construction area of 151,700 square meters, and floor area ratio construction area of 149,900 square meters.

The consideration from the disposal will be used to repay financing costs and advances incurred by the seller in developing these assets, with the remaining amount to be used for general operational purposes of one of the group's domestic subsidiaries.

After making inquiries to relevant parties and based on information provided by such parties to the liquidator, the liquidator believes that: the disposal is consistent with the seller's business of developing commercial and industrial properties in Harbin, China. In this regard, the liquidator learned from relevant parties that the sale of these properties will provide critical cash flow for the group's domestic subsidiaries to continue domestic business and operations; and the terms of the equity transfer agreements were entered into on normal commercial terms, are fair and reasonable, and are in the interests of the company.