01935.HK announced that on January 12, 2022, the Company's China affiliated entity Economic and Trade College entered into these purchase agreements with Binzhou Real Estate, according to which Binzhou Real Estate agreed to sell and the Economic and Trade College agreed to acquire a number of target properties for a total consideration of RMB 119 million.

Target 1 includes properties located to the west of Bohai Road, Binzhou City, Shandong Province, China. The total construction area is about 4511.91 square meters, including 1 Shangri-La-Waterfront Green City, south of Yellow River 15 Road, 3 buildings, 201-213, 1111 and 1112, 7 buildings, 105,104,109, and 15 buildings. These properties are for commercial use.

Target 2 includes properties located to the west of Bohai Road in Binzhou City, Shandong Province, south of Yellow River 15th Road, and rooms 101to 526on the ground floor of Greentown Shopping Mall, with a total floor area of about 11695.93 square meters. These properties are used for commercial and office purposes.

Target 3 includes properties with 50 parking spaces in 8 buildings of Shangri-La-Waterfront Green City, 20 parking spaces in 11 buildings and 166 parking spaces in 13 buildings, located to the west of Bohai Road in Binzhou City, Shandong Province and south of Yellow River 15th Road. These properties are used as parking spaces.

Taking into account the Group's current financial position, business operations and the prospects of the target properties, the Group believes that the acquisition will enhance shareholder returns. The Group intends to hold the target property for long-term investment.