Ningbo Shanshan announced that, in order to ensure the development of its core Business, optimize its Assets structure, achieve resource optimization allocation, and supplement the company's Cash flow, it plans to reach an agreement and sign a corresponding contract with Ningbo Haishu Industrial and Ecological Construction Co., Ltd. regarding the disposal of the construction land use rights for the properties owned by the company located at 238 Yunlin Middle Road, 80 Shanhai Road, and 218 Yunlin Middle Road in Gulin Town, Haishu District, Ningbo, with an area of 208,467.82 square meters, as well as all buildings (including renovations), equipment, and other attached facilities on those properties. The price of the targeted Assets is based on the asset assessment results, and through negotiations between both parties, the transaction price is set at 0.876 billion yuan.