An announcement was issued by ROAD KING INFRA (01098) stating that on April 21, 2026, the seller Shanghai Junxiang Real Estate Development Co., Ltd., an indirect wholly-owned subsidiary of the company, and the co-seller Shanghai Lianxin Enterprise Development Co., Ltd. entered into an agreement with the buyer Shanghai Waigang Industrial Development Co., Ltd. Under the terms of the agreement, the seller and co-seller conditionally agreed to sell, and the buyer conditionally agreed to purchase, a combined 80% equity interest in the target company for a total consideration of approximately RMB 116.4 million. Approximately RMB 94.4 million of this amount is attributable to the seller for its corresponding 65% stake in the target company.

The target company is Shanghai Junxin Property Co., Ltd., a limited liability company established in China on May 22, 2019, and an indirect non-wholly-owned subsidiary of ROAD KING INFRA. The target company was established for the purpose of jointly developing the target land, a parcel of approximately 70 mu located at the intersection of Yinlong Road and Hengtao Road in Waigang Town, Jiading District, Shanghai, in accordance with a cooperation memorandum.

The target project includes saleable residential units with a total gross floor area of approximately 55,145.1 square meters, a total of 589 parking spaces, and self-held apartments with a total gross floor area of approximately 10,442.6 square meters. As of the date of this announcement, all residential units (approximately 55,145.1 square meters) and 155 parking spaces have been sold and delivered, meeting the exit conditions stipulated in the cooperation memorandum. The remaining inventory of the target project consists of 434 unsold parking spaces and the self-held apartments covering approximately 10,442.6 square meters.

Considering the group's current financial condition and anticipated liquidity requirements, the overall outlook of the Chinese real estate market, and the specific characteristics and circumstances of the target project, the directors believe that, after reviewing the valuation report, the disposal presents a favorable opportunity for the group to realize its investment in the target company at a reasonable price. The disposal will assist the group in optimizing its asset utilization efficiency, recouping the investment funds in the target project, and meeting the group's current liquidity needs, including tax payments and other general working capital requirements.