On November 26, 2024, china res land signed a sustainable development-linked term loan financing agreement worth 1 billion RMB, with a loan term of three years. According to the agreement, china res land must maintain a minimum shareholding ratio in china res land and continue to act as the single largest shareholder. If china res land no longer holds at least 35% of the equity or loses control of the board of directors, it will constitute an event of default. Furthermore, if china res land is no longer held by the State-owned Assets Supervision and Administration Commission of the State Council of china with at least 50% equity, it will also constitute an event of default. In case of default, the loan commitment...Show More

On November 26, 2024, china res land signed a sustainable development-linked term loan financing agreement worth 1 billion RMB, with a loan term of three years. According to the agreement, china res land must maintain a minimum shareholding ratio in china res land and continue to act as the single largest shareholder. If china res land no longer holds at least 35% of the equity or loses control of the board of directors, it will constitute an event of default. Furthermore, if china res land is no longer held by the State-owned Assets Supervision and Administration Commission of the State Council of china with at least 50% equity, it will also constitute an event of default. In case of default, the loan commitment may be cancelled, and all outstanding amounts and interest will become immediately due. china res group currently holds approximately 59.55% of the equity in china res land, making it the single largest shareholder. china res land will continuously disclose related liability status in its interim and annual reports in accordance with Listing Rule 13.21. The announcement is issued by the chairman of the board of directors, Li Xin, and is effective from November 26, 2024.