On January 29, 2026 (after trading hours), the seller Zhengzhou CIFI Enterprise Management Co., Ltd. (an indirect non-wholly-owned subsidiary of the Company and a shareholder of the target company), the buyer Henan Langrui Real Estate Co., Ltd. (another shareholder of the target company), and the target company Luoyang Zhuofa Enterprise Management Consulting Co., Ltd. entered into an equity transfer agreement. According to the agreement, the seller conditionally agreed to sell, and the buyer conditionally agreed to purchase, a 50% equity interest in the target company along with a shareholder loan owed by the target company to the seller, for a total consideration of RMB 105 million.

Following the completion of the disposal, the Group will no longer hold any equity interest in the target company. The target company is a limited liability company established in China and, as of the date of this announcement, was owned 50% by the seller and 50% by the buyer. The target company is confirmed as a subsidiary of the Company, and its financial performance is consolidated into the Group's financial statements.

The target company is primarily engaged in real estate development project investments and holds a 50% equity interest in a project company, which owns and is developing the Luoyang Project. The Luoyang Project is located in Luoyang City, Henan Province, China, with a site area of approximately 70,000 square meters and a total gross floor area of approximately 202,000 square meters.

This project is designated as a "Project Ensuring Delivery" and comprises two phases of residential communities. The first phase has been completed and delivered, with some units remaining unsold. The second phase is yet to be constructed.

Given the downturn in the market for China's real estate development sector, consolidating the equity structure and streamlining project operations within the Group's strategically selected regions is a key measure to ensure the Group's long-term financial sustainability. The disposal is aligned with the Group's strategic development plan, enabling the Group to realize its investment in the Luoyang Project, obtain immediate usable cash flow, avoid incurring additional costs and expenditures for the project's subsequent development, and simultaneously facilitating the reallocation of the Group's resources to projects in its strategic priority development areas.