On July 5, 2024, China Jinmao announced that it has issued an exercise notice to Huafu Securities based on the priority acquisition agreement signed on November 24, 2011, and in principle, it will exercise the priority acquisition right with RMB 966 million. The action aims to raise funds to support the group's operation and business development, and securitize the relevant properties held by the group. China Jinmao has the priority acquisition right of asset-backed securities or underlying assets under the special plan. If the ultimate exercise target is an underlying asset, the exercise price needs to be evaluated and filed by the State-owned Assets Supervision and Administration Commission. As the highest applicable percentage in this transaction exceeds 5%, it constitutes a transaction that...Show More

On July 5, 2024, China Jinmao announced that it has issued an exercise notice to Huafu Securities based on the priority acquisition agreement signed on November 24, 2011, and in principle, it will exercise the priority acquisition right with RMB 966 million. The action aims to raise funds to support the group's operation and business development, and securitize the relevant properties held by the group. China Jinmao has the priority acquisition right of asset-backed securities or underlying assets under the special plan. If the ultimate exercise target is an underlying asset, the exercise price needs to be evaluated and filed by the State-owned Assets Supervision and Administration Commission. As the highest applicable percentage in this transaction exceeds 5%, it constitutes a transaction that needs to be disclosed in accordance with Chapter 14 of the listing rules. China Jinmao's main business includes hotel management, property management, conference and exhibition services, and real estate leasing, while Shanghai Songmao mainly engages in corporate management services and business consulting. Huafu Securities mainly engages in securities-related businesses. The board of directors believes that the terms of this transaction are fair and reasonable and in line with the overall interests of the company and shareholders.