Tianjin Development Holdings Limited (882) released additional information regarding the disposal of the entire equity interest in Benefo Financial Leasing Co., Ltd. The announcement clarifies the valuation methodology and outlines the difference between the audited book value and the appraised value of the asset.

According to the supplemental details, the appraiser adopted the asset-based approach as the most suitable method. The appraised value of Benefo Financial Leasing’s entire equity interest stood at RMB264,929,184.30 as of 30 September 2025, surpassing the audited net assets value of RMB257,473,789.66 by approximately RMB7,455,394.64. This increase primarily stemmed from differences in the depreciation of electronic equipment, the assessed provision for bad debts in long-term receivables, and corresponding adjustments to deferred income tax assets.

The supplemental announcement also indicates that the Board of Tianjin Development Holdings Limited reviewed the valuation report and deemed the assumptions and methodologies reasonable. The appraised value remains valid for one year from 30 September 2025, and no other information in the previous announcement has been altered.