On November 26, 2024, china res land, as the borrower, signed a financing letter with a banks for a RMB 2.5 billion term loan financing, with a loan term of three years. According to the financing letter, china resources group must maintain a shareholding of not less than 35% in china res land, otherwise it will constitute a default event. Currently, China Resources Group holds approximately 59.55% of the equity of china res land. If China Resources Group no longer holds more than 50% of the equity held by the State-owned Assets Supervision and Administration Commission of the State Council of China, it will also constitute a default event. In the event of default and continuation, the lender may cancel the financing commitment and demand...Show More

On November 26, 2024, china res land, as the borrower, signed a financing letter with a banks for a RMB 2.5 billion term loan financing, with a loan term of three years. According to the financing letter, china resources group must maintain a shareholding of not less than 35% in china res land, otherwise it will constitute a default event. Currently, China Resources Group holds approximately 59.55% of the equity of china res land. If China Resources Group no longer holds more than 50% of the equity held by the State-owned Assets Supervision and Administration Commission of the State Council of China, it will also constitute a default event. In the event of default and continuation, the lender may cancel the financing commitment and demand immediate repayment of all outstanding amounts and accrued interest. China res land will continue to disclose relevant situations in its subsequent interim and annual reports. This announcement is made in accordance with Rule 13.18 of the Listing Rules of the Hong Kong Stock Exchange, and China res land will continue to follow Rule 13.21 for disclosure.