CHINA OVERSEAS (00688) announced that on September 5, 2025, joint bidders (namely COHL Enterprise Development, an indirect wholly-owned subsidiary of the Company, Shanghai Hongrun, and Hangzhou Tourism Investment) entered into property transaction contracts with transferors regarding the acquisition. COHL Enterprise Development will acquire a 50.5% equity stake and proportional debt in Target Company A (Shanghai Xindong'an), as well as a 30.5% equity stake in Target Company B (Shanghai Xinbai'an). COHL Enterprise Development is expected to contribute approximately RMB 7.341 billion and RMB 812 million respectively to acquire Target Equity A and Target Equity B in proportion.

The target companies hold land plots for the Dong'an Project. Upon completion, Target Company A will be recorded as a subsidiary of the Company, while Target Company B will be recorded as an associate of the Group.

Target Company A is a limited liability company established in China, currently owned 50% each by Transferor 1 and Transferor 2 as of the announcement date. Its principal business involves property development and property investment. As of the announcement date, Target Company A primarily holds a land plot for the Dong'an Project located in Xuhui District, Shanghai, China.

Target Company B is a limited liability company established in China, currently owned 50% each by Transferor 1 and Transferor 2 as of the announcement date. Its principal business involves property development and property investment. As of the announcement date, Target Company B primarily holds a land plot for the Dong'an Project located in Xuhui District, Shanghai, China.

Property development and investment represents one of the Group's principal businesses. The target companies primarily hold two land plots for the Dong'an Project located in Xuhui District, a core urban area of Shanghai. The Dong'an Project enjoys an advantageous geographical location, comprehensive supporting facilities, and strategic transportation advantages providing convenient access to surrounding commercial districts. Shanghai is a first-tier city in China and a key strategic region for the Group's layout.

The acquisition aligns with the Company's core business strategy. The development of the Dong'an Project is expected to consolidate and enhance the Group's market share, leadership position, and brand influence in Shanghai, generate returns for the Group, and benefit the Group's long-term business development. Furthermore, through joint participation in the bidding with other joint bidders, the Group was able to successfully acquire the listed targets with contributions from other joint bidders while diversifying related investment risks.