GUANGZHOU FULI REAL ESTATE CO., LTD. (“FULI REAL ESTATE”) ISSUED A PROFIT WARNING ON MARCH 28, 2024. IT EXPECTS TO RECORD A NET LOSS OF APPROXIMATELY RMB195 BILLION IN 2023, AN INCREASE FROM THE NET LOSS OF RMB157.79 BILLION IN 2022. The expected loss was mainly due to factors such as the weak Chinese property market, increased property impairment provisions, increased fair value losses on invested properties and deferred income tax asset write-offs. THE COMPANY EMPHASIZES THAT THIS IS BASED ON AN INITIAL ASSESSMENT OF UNAUDITED MANAGEMENT ACCOUNTS AND REMINDS SHAREHOLDERS AND POTENTIAL INVESTORS TO EXERCISE CAUTION WHEN TRADING THE COMPANY'S SECURITIES. Wealth Properties will announce detailed annual results on 28 March 2024.

GUANGZHOU FULI REAL ESTATE CO., LTD. (“FULI REAL ESTATE”) ISSUED A PROFIT WARNING ON MARCH 28, 2024. IT EXPECTS TO RECORD A NET LOSS OF APPROXIMATELY RMB195 BILLION IN 2023, AN INCREASE FROM THE NET LOSS OF RMB157.79 BILLION IN 2022. The expected loss was mainly due to factors such as the weak Chinese property market, increased property impairment provisions, increased fair value losses on invested properties and deferred income tax asset write-offs. THE COMPANY EMPHASIZES THAT THIS IS BASED ON AN INITIAL ASSESSMENT OF UNAUDITED MANAGEMENT ACCOUNTS AND REMINDS SHAREHOLDERS AND POTENTIAL INVESTORS TO EXERCISE CAUTION WHEN TRADING THE COMPANY'S SECURITIES. Wealth Properties will announce detailed annual results on 28 March 2024.