CHINA JINMAO (00817) intends to acquire 51% equity and debt of Tianjin Timao.

CHINA JINMAO (00817) announced that on June 16, 2026, Beijing Yicheng (an indirectly wholly-owned subsidiary of the Company) signed a share transfer agreement with Jiaxing Congmao. According to the agreement, Beijing Yicheng agreed to acquire, and Jiaxing Congmao agreed to sell, 51% equity and debt capital of Tianjin Timao for approximately RMB 522 million, with a total consideration of approximately RMB 884 million. Tianjin Timao was established on June 1, 2023. As of the date of this announcement, its registered capital is RMB 30 million, with Tianjin Donghui and Jiaxing Congmao holding 49% and 51% of the equity respectively. Upon completion of this transaction, Tianjin Timao will become an indirectly wholly-owned subsidiary of the Company. Tianjin Timao is engaged in the development of a project located in Hexi District, Tianjin, China. The project covers an area of approximately 108,200 square meters and has been developed into a residential project with community facilities, with a total construction area of approximately 226,500 square meters. It is expected to be fully completed by September 2027. Jiaxing Congmao intends to sell its equity in Tianjin Timao for its own reasons. Prior to this transaction, Tianjin Timao was an indirect affiliate company of the Company, and its daily operations and project development were managed by the Group. Through this transaction, Tianjin Timao will become an indirectly wholly-owned subsidiary of the Company, ensuring the smooth development of the project in the future.