China Jinmao's Subsidiaries Enter New Framework Agreement and Extend Loans

Stock News
05/12

China Jinmao announced that on May 12, 2026, the project companies, which are indirect non-wholly owned subsidiaries of the company, entered into a new framework agreement with their shareholders. According to the agreement, the project companies will continue to provide loans to each shareholder or their designated entities during the term of the new framework agreement. The new framework agreement will take effect from May 13, 2026, for a period of three years.

The project companies have achieved strong sales performance and possess ample sales proceeds. The board believes that by providing loans to their shareholders, the project companies can reduce idle cash balances, fully leverage capital advantages, allocate resources rationally, improve fund utilization, and meet the development and financial needs of the group's other development projects.

The loans provided by the project companies to their shareholders or their designated entities will be proportionate to the equity stakes held by China Jinmao, China Ping An, and China Overseas Development in the project companies. The terms and conditions of other loan transactions will also be identical.

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