On 13 February 2026, Yuexiu Property’s indirect non-wholly owned subsidiary, Hangzhou Yuejia Property Development Co., Ltd. (Hangzhou Yuejia), reached an agreement (the Cooperation Agreement) with Hangzhou Binjiang Real Estate Group Co., Ltd. (the Seller), listed on the Shenzhen Stock Exchange (stock code: 002244), and Zhejiang Jianhang Real Estate Group Co., Ltd. (Zhejiang Jianhang), to acquire a total effective interest of 65.35% in Hangzhou Binwan Real Estate Development Co., Ltd. (the Project Company). Upon completion, equity interests in the Project Company will be held as 34.65% by the Seller, 35.35% by Hangzhou Yuejia, and 30.00% by Zhejiang Jianhang. Corresponding shareholder loans will be made in the same proportion.

The Project Company was established to develop a land parcel located in the Xiaoshan District of Hangzhou, with a total land premium of 1.61 billion RMB. Hangzhou Yuejia will bear 35.35% of the costs, including an equity transfer consideration expected at 282.80 million RMB (contributed as part of the joint venture’s paid-up capital), approximately 1.64 million RMB of interest payable to the Seller, and a shareholder loan of about 315.83 million RMB. According to filings, the board of Yuexiu Property has determined that the total consideration is on normal commercial terms and in the company’s best interests.

Since the Seller is a substantial shareholder in certain indirect non-wholly owned subsidiaries of Yuexiu Property, the transaction constitutes a connected transaction under Chapter 14A of the Listing Rules. As the highest percentage ratio is above 1% but below 5%, it is subject to the reporting and announcement requirements without needing independent shareholders’ approval. No directors abstained from voting on the relevant resolutions. Upon completion, the Project Company will become an indirect non-wholly owned subsidiary of Yuexiu Property, and its financial results will be consolidated accordingly.