Gree Real Estate announced that the 28th meeting of the 8th Board of Directors approved the major asset swap and related party transaction plan. The assets to be transferred out are 100% equity and related debts of multiple subsidiaries held by the company, and the assets to be transferred in are 51% equity of Zhuhai Duty-Free Conglomerates Limited. According to the asset appraisal report and negotiation between both parties, the final transaction price for 51% equity of Duty-Free Group is 4.579 billion yuan. The evaluated value of the assets to be transferred out is 5.505 billion yuan, and the final transaction price after deducting debts is 5.005 billion yuan. The difference in transaction amount of 0.426 billion yuan will be paid by Haitou Corporation to Gree Real Estate. This proposal needs to be reviewed by the shareholders' meeting.