With the initiation of its North American market expansion and the advancement of its global development strategy, KANGQIAO SER (02205) officially signed a Memorandum of Understanding (MOU) with US-based multi-family apartment asset management firm, Group 1 (GPI) Real Estate Management LLC, on December 24, 2025. This cross-border collaboration will center on equity cooperation as its core link. By integrating the core resource advantages of both parties, the partnership aims to jointly establish a standardized, technologically-driven, and sustainably growing asset management and property service platform for multi-family apartments in the United States.

As a comprehensive property service enterprise listed on the Main Board of the Hong Kong Exchange, KANGQIAO SER has, through years of dedicated cultivation and accumulation in the domestic market, built a dual-support system encompassing standardized management processes and digital empowerment practices across diverse businesses. These include basic property services, smart community operations, and client asset management, forging a core competitiveness driven by both "service and technology," which provides strong support for overseas business expansion. GPI has deep experience in the US market over many years, having developed significant practical advantages in multi-family apartment operations, asset renovation, and local compliance management. Public data indicates that GPI currently manages a portfolio of 17 projects (including 15 owned projects and 2 third-party mandated projects), possessing a solid operational foundation and a comprehensive resource network in the local market. Based on principles of equality, mutual benefit, and complementary strengths, the two parties have reached a consensus on cooperation across multiple dimensions. KANGQIAO SER's standardized management system and technological empowerment capabilities synergize deeply with GPI's local market resources and professional operational experience, laying a solid foundation for the rapid establishment and long-term development of the cooperative platform.

According to the MOU terms, the parties have determined "equity cooperation as the core" to jointly build a long-term, stable collaboration model: KANGQIAO SER intends to acquire no less than 35% of GPI's equity through direct or indirect means, aiming for control and consolidated financial statements, subject to compliance with accounting standards and relevant regulatory requirements. Specific core details will be further negotiated by both parties and clarified in a formal agreement following the completion of subsequent due diligence. The MOU stipulates that the future cooperative platform company's business scope will achieve comprehensive coverage of multi-dimensional property asset management services, specifically including: leasing and operational management of multi-family apartments; full-chain property management services such as daily operations management, leasing management, maintenance and repairs, and customer service; asset renovation and value-added services including apartment refurbishment, repair projects, CapEx management, and related engineering management;全面提升租赁转化效率、运营管理效率、成本管控能力及管理透明度 through the introduction and application of technologies like artificial intelligence, data analytics, and automated systems; and other related businesses mutually agreed upon by both parties. The MOU also mentions that the cooperative platform company will continue to manage GPI's existing projects,原则上保持原有运营团队、管理模式及对业主的服务承诺稳定性 during a transition period; it will gradually introduce standardized management systems, technological systems, and process optimization measures approved by both parties, provided this does not affect the legitimate rights and interests of existing owners or service quality. In the future, the cooperative platform company will actively explore new business through market-oriented operations, continuously expanding its management scale and service coverage by undertaking third-party property management projects, acquiring, or investing in property management and related service enterprises mutually recognized by both parties. Furthermore, the MOU specifically notes that any related acquisitions or investment projects will follow a separate investment decision-making mechanism and approval process to be agreed upon by the parties.

Both parties have clearly established "management standardization" and "technology empowerment" as the core development pillars for the cooperative platform company. KANGQIAO SER will leverage its mature practical experience to assist the platform company in organizing and exporting replicable management standards and standardized processes, promoting the continuous optimization of management systems, service quality, and internal control systems. The cooperative platform company will further increase investment in technology research, development, and application, focusing on implementing technologies such as artificial intelligence, digital management systems, and intelligent tools to drive dual improvements in operational efficiency and economic benefits through technological innovation. Amid the wave of globalization and intelligent transformation in the real estate services industry, this cooperation represents a significant move for KANGQIAO SER to deepen its presence in the North American market and advance its dual-drive strategy of "service + technology." Through this in-depth partnership with GPI, KANGQIAO SER will further accumulate hands-on experience in the overseas property asset management sector, laying a replicable operational foundation for subsequent expansion into North America and other international markets. GPI, in turn, will rely on the resource support and technological empowerment from KANGQIAO SER to achieve scaled expansion and service quality upgrades. KANGQIAO SER stated that the signed MOU is an indicative document of strategic intent and, except for explicitly stipulated terms such as confidentiality and exclusivity, does not constitute a final legally binding agreement. Specific cooperation content will be subject to subsequent formal agreements signed by both parties. Moving forward, the parties will orderly proceed with follow-up work including due diligence and negotiation of core terms, striving to fully promote the operational launch of the cooperative platform company and jointly explore new value and benefits in the North American property asset management industry.