Gelonghui, April 22 | Xianneng Group (01730.HK) Announcement, Coliwoo (TK) Pte. Ltd. (the “Target Company”) (an indirect wholly-owned subsidiary of the Company) is currently in the process of acquiring a property through public tender. The acquisition is expected to close on May 9, 2024.

On April 22, 2024, Coliwoo Holdings Pte.Ltd., an indirect wholly-owned subsidiary of the Company, entered into a sales agreement with Macritchie Developments Pte.Ltd. (“Buyer”), according to which Coliwoo Holdings must sell and the buyer must purchase 20,000 shares of the target company (20% of its total issued share capital) at a cost of SGD 20,000. This price is based on the face value of the target company's shares, taking into account the target company's negative book value as of March 31, 2024. After the sale is completed on the same day, the target company will be owned by Coliwoo Holdings and 20% by the buyer, respectively, and the target company will remain a subsidiary of the company. The buyer is a limited liability company incorporated in Singapore, engaged in real estate development business.