SH IND URBAN (00563) subsidiary intends to sell 100% equity of Shanghai Chengkai Jingxiang Real Estate for RMB742 million

SH IND URBAN (00563) announced that on October 28, 2026, the seller (Shanghai Chengkai (Shanghai) Housing Leasing Co., Ltd., an indirect non-wholly-owned subsidiary of the company) intends to sell 100% equity interest in the target company (Shanghai Chengkai Jingxiang Real Estate Co., Ltd.) to the buyer (Shanghai Ruiyusi Housing Leasing Co., Ltd.) for a consideration of RMB742 million. Upon completion, the group will no longer hold any interest in the target company, and the target company's financial results, assets and liabilities will no longer be consolidated into the group's consolidated financial statements. The target company develops, owns and operates the ChengkaiQianjihui community, which is an affordable rental housing project located in the Shanghai South Railway Station area of Xuhui District, Shanghai. The project has a total gross floor area of approximately 58,476.32 square meters, comprising affordable rental housing, ancillary commercial premises, parking spaces and other ancillary facilities. On October 28, 2026, Qianji Shanghai (an indirect wholly-owned subsidiary of the company) entered into an entrusted management agreement with the target company, pursuant to which the target company agreed to entrust Qianji Shanghai to provide operation and management services for the project's rental housing units and related operational service areas, for a term of one year from the date of the entrusted management agreement, with total entrusted service fees of RMB10.8 million, which already include the project management fees and operating costs of the entrusted properties.