ONEWO (02602) announced that Shenzhen Metro Group Co., Ltd. and its controlling shareholder China Vanke entered into a loan framework agreement on November 2, 2025. Under the agreement, Shenzhen Metro Group will provide China Vanke with cumulative loans not exceeding RMB 22 billion during the relevant period.

As part of the further framework arrangement, China Vanke will pledge assets for the benefit of Shenzhen Metro Group (as the pledgee) to secure the loans. Currently, the parties have agreed to pledge 15.32 million shares held by China Vanke in ONEWO.

As of the announcement date, China Vanke has voting rights over 661 million shares of ONEWO, representing approximately 57.16% of the company’s total issued share capital (excluding 12.36 million treasury shares). The additional pledged 15.32 million shares account for about 1.33% of the issued share capital (excluding treasury shares). Together with previously pledged shares, the total pledged shares represent approximately 57.16% of ONEWO’s issued share capital (excluding treasury shares), equivalent to China Vanke’s full voting control.

The share pledge is not intended to secure ONEWO’s debts, guarantees, or other liabilities, nor does it fall under the scope of Listing Rule 13.17. The further framework arrangement will not affect China Vanke’s status as the controlling shareholder or the group’s normal operations.