Merger China announced on 7 April 2024 that it will sell its 51% shareholding and related debt in the Chongqing University City project to the partner and its affiliates for a total transaction cost of RMB5.4 billion. The project was jointly developed by China Fusion and its partners and is currently under construction and has not been completed. The transaction will address China's sovereign debt issues and subsequent development funding requirements for the project. Upon completion of the transaction, Fusion China will no longer hold any interest in the target project company, and the company will no longer be a joint venture of Merger China. Under the Listing Rules, this sale constitutes a disclosable transaction. China Merger expects to record an unaudited loss of about RMB2.5 million as a result of this sale. The Board considers that this sale will help the Group resolve its debt issues and is in the overall interests of the Company and its shareholders.

Merger China announced on 7 April 2024 that it will sell its 51% shareholding and related debt in the Chongqing University City project to the partner and its affiliates for a total transaction cost of RMB5.4 billion. The project was jointly developed by China Fusion and its partners and is currently under construction and has not been completed. The transaction will address China's sovereign debt issues and subsequent development funding requirements for the project. Upon completion of the transaction, Fusion China will no longer hold any interest in the target project company, and the company will no longer be a joint venture of Merger China. Under the Listing Rules, this sale constitutes a disclosable transaction. China Merger expects to record an unaudited loss of about RMB2.5 million as a result of this sale. The Board considers that this sale will help the Group resolve its debt issues and is in the overall interests of the Company and its shareholders.