Huayang Nian Holdings: Has formally submitted in writing to TFISF and Osceo to oppose any auction proceedings related to Caisheng Shares.

On the morning of November 12th, China Evergrande Group announced on the Hong Kong Stock Exchange that the company had received a notice from Och-Ziff Capital Asia Limited, claiming to be the financial advisor of a entity related to TFISF. The notice stated their intention to exercise their rights through an auction process managed by Och-Ziff, to sell up to 29.9% of the total issued shares of the company's subsidiary, Color Life Services Group Limited. TFISF had previously claimed that their 780,104,676 shares of Color Life held as custodian for the company were pledged as collateral for debts owed to TFISF. The company argues that the debts claimed by TFISF were not secured by the shares of Color Life, and has formally objected to any auction process involving Color Life shares in writing to both TFISF and Och-Ziff. The company is seeking legal advice to protect its legitimate interests against unauthorized attempts to enforce so-called collateral rights.