CN Cultural T&A (00542) announced that the group has four development projects under construction, namely the German City project located in Hengqin, the Fuyuan Junting project in Chengdu, the Fuyuan Plaza project in Doumen, and the Taishan project in Taishan City.

The Board is pleased to inform shareholders and potential investors that following the commencement of pre-sales in the fourth quarter of 2019, the sales procedures for one of the group's flagship projects, German City, are expected to be substantially completed by the end of 2025, subject to completion of the construction works for the project.

The group has recently entered into a sale and purchase agreement with an independent third party for the bulk sale of 12 buildings in German City, with a total contract value of approximately RMB 550 million. This transaction is expected to be completed by the end of 2025.

This transaction marks a significant sales milestone for the group. The proceeds from the sales are expected to significantly improve the group's cash flow, strengthen the balance sheet, and have a positive impact on overall financial performance. This also fully demonstrates the group's capability to develop and monetize large-scale integrated projects.