Gelonghui, April 24, 丨 Shimao Services (00873.HK) announced that on April 24, 2024, a number of branches of Shanghai Runshang (an indirect wholly-owned subsidiary of the company) signed such agreements with certain indirect wholly-owned subsidiaries of Shimao Group. According to this, the Group will acquire a number of parking spaces and storage units from Shimao Group, with a total consideration of approximately RMB 36.473,000.

The assets to be acquired under the first agreement are 180 parking spaces in the Guofeng Chang'an Project, a residential property project developed by Shimao Group. The address is located at 56 Licuoshan Road, Shangdu Street, Cangshan District, Fuzhou, Fujian, China. The project has been completed and delivered to the owner.

The company believes that residents of such projects still have stable demand for parking spaces and storage units. Based on (i) the floor area, location, positioning and industry trends of the target assets; (ii) the expected operating costs of the Group to provide resale services; and (iii) the ease of managing such assets in the future, the Company believes that the acquisition will enable the Group to provide better services to the owners of such projects, and will also provide the Group with an opportunity to realize the relevant assets and bring valuable returns to shareholders.