LIANHUA (00980) announced that on November 19, 2025, its wholly-owned subsidiary Century Lianhua Development agreed to sell the entire equity of Yangpu Century Lianhua to Shanghai Dongran, an indirect wholly-owned subsidiary of Bailian Group, for a cash consideration of approximately RMB78.286 million (confirmed by the competent state-owned assets supervision authority). Upon completion of the transaction, Yangpu Century Lianhua will cease to be a subsidiary of the company. Following the sale, LIANHUA plans to enter into a management agreement with Shanghai Dongran, under which the company will provide operational management and resource support services to Yangpu Century Lianhua for a term of three years from the effective date of the agreement. Yangpu Century Lianhua primarily operates hypermarkets in Yangpu District, Shanghai, and Henan Province.