Redsun Properties Group Limited (the “Company,” together with its subsidiaries, the “Group”) has entered into a termination agreement on 4 February 2026 with Redsun Services to end their previously signed New Parking Space Sales and Leasing Agency Services Framework Agreement. Under the termination, Redsun Services will no longer act as an agent for the sale of the Company’s parking spaces, a decision the Company believes will not materially impact its overall business or financial position.

According to the announcement, Redsun Services is indirectly owned as to 72.77% by Mr. Zeng, an executive director of the Company, who abstained from voting on the relevant resolution due to a deemed material interest. Other directors unanimously view the termination arrangement as being on normal commercial terms and in the best interests of the Company and its shareholders.

As of the date of the announcement, the Company owes Redsun Services approximately RMB502 million, which consists of around RMB203 million in property management service fees and approximately RMB299 million in deposits for parking spaces. The Company plans to continue verifying its payment schedule for the property management service fees and will seek agreements to set off the deposit amounts, aiming to maximize repayment for both parties.