On July 2, 2024, KWG Group (stock code: 1813) announced that its wholly-owned subsidiary, Guangzhou Junzhao Property Management Co., Ltd., has renewed its property lease agreement with Guangzhou Kaichuang Business Investment Group Co., Ltd. The lease terms that were set to expire on May 31, 2024, will now continue until the end of 2025. The transaction involves commercial properties located in Guangzhou with a total area of approximately 1,612.31 square meters, for office space. The lease terms include monthly rental prepayment and annual rental ceilings for 2024 and 2025. As our Executive Director and CEO, Mr. Kong, indirectly owns 100% equity interest in the tenant, this transaction constitutes a continuing connected transaction. However, as the percentage ratios of the transaction are below 5% according to the Listing Rules, it is exempted from independent shareholders' approval. The board of directors believes that the terms of this transaction are fair, reasonable, and in line with the interests of the company and the shareholders.

On July 2, 2024, KWG Group (stock code: 1813) announced that its wholly-owned subsidiary, Guangzhou Junzhao Property Management Co., Ltd., has renewed its property lease agreement with Guangzhou Kaichuang Business Investment Group Co., Ltd. The lease terms that were set to expire on May 31, 2024, will now continue until the end of 2025. The transaction involves commercial properties located in Guangzhou with a total area of approximately 1,612.31 square meters, for office space. The lease terms include monthly rental prepayment and annual rental ceilings for 2024 and 2025. As our Executive Director and CEO, Mr. Kong, indirectly owns 100% equity interest in the tenant, this transaction constitutes a continuing connected transaction. However, as the percentage ratios of the transaction are below 5% according to the Listing Rules, it is exempted from independent shareholders' approval. The board of directors believes that the terms of this transaction are fair, reasonable, and in line with the interests of the company and the shareholders.