On August 7, 2024, Shimao Group announced that its three subsidiary companies have signed a sale agreement with the buyer, China State Construction Third Engineering Bureau Co., Ltd. and the project company Xiamen Shimao New Navigation Property Co., Ltd., agreeing to sell all of its equity in the comprehensive residential, commercial, and commercial complex project developed in Jimei District, Xiamen City, for a transaction price of RMB 0.59634 billion. The project has been suspended since 2022 and the sale will enable the group to repay the buyer's debt and release relevant responsibilities. The applicable percentage for this transaction is less than 5%, which does not constitute a disclosure transaction under Chapter 14 of the Listing Rules. This announcement is voluntary disclosure.

On August 7, 2024, Shimao Group announced that its three subsidiary companies have signed a sale agreement with the buyer, China State Construction Third Engineering Bureau Co., Ltd. and the project company Xiamen Shimao New Navigation Property Co., Ltd., agreeing to sell all of its equity in the comprehensive residential, commercial, and commercial complex project developed in Jimei District, Xiamen City, for a transaction price of RMB 0.59634 billion. The project has been suspended since 2022 and the sale will enable the group to repay the buyer's debt and release relevant responsibilities. The applicable percentage for this transaction is less than 5%, which does not constitute a disclosure transaction under Chapter 14 of the Listing Rules. This announcement is voluntary disclosure.