Greentown China (03900) announced that on October 20, 2025, Greentown Real Estate Construction Management, a non-wholly-owned subsidiary of the company, entered into a real estate development management agreement with Hangzhou Zhongyi Jiangchen Properties for project management services related to the project. Under this agreement, Greentown Real Estate Construction Management will provide project management services for the project to Hangzhou Zhongyi Jiangchen Properties. This project is located in Qiantang District, Hangzhou, Zhejiang Province, with a total construction area of approximately 90,711 square meters, planned for residential property development. The board believes that this agreement will enable the group to leverage its technical expertise, professional knowledge, and experience in property development and project management in China to promote the construction of the project and enhance its quality, thereby generating income without the need for significant capital investment. The selection of the project management service provider and pricing was conducted through a public tender process. Multiple bidders participated in the tender, and after evaluation and comprehensive comparison, Greentown Real Estate Construction Management was selected based on the relevant requirements of the tender documents. Therefore, Greentown Real Estate Construction Management was chosen through a competitive bidding process, with the price and terms of the agreement determined according to the tender documents, aligning with market practices and the group’s commercial interests.