SRE GROUP (01207) is currently in discussions and negotiations with lenders and will continue to be suspended from trading.

SRE GROUP (01207) announced that Shanghai Jin Xin and several subsidiary companies of the Group (namely Shanghai United Investment Co., Ltd., Jiaqin Investment Co., Ltd., Shanghai Zhi Jiaye Real Estate Development Co., Ltd., and Shanghai Oasis Garden Real Estate Co., Ltd.) (referred to as the "judgment debtor") have received a "Judgment" dated September 12, 2024, issued by the Shanghai Financial Court under case number (2023) Hu 74 Zhi 1509, which specifies that, according to the Civil Mediation Agreement under case number (2022) Hu 74 Min Chu 2987, the judgment debtor and other related parties must pay the lender a total loan amount of RMB 4.452 billion (including related interest and management fees), and must also bear enforcement costs of RMB 4.5192 million. According to the Judgment, as the defendants (including the judgment debtor) have failed to fulfill their obligations according to the Mediation Agreement, the Shanghai Financial Court has ruled to take forced actions (enforcement) against the Shanghai Oasis Garden Real Estate Co., Ltd. holding 18.80% equity in Shanghai Jin Xin; Shanghai United Investment Co., Ltd. holding 18.42% equity in Shanghai Jin Xin; Jiaqin Investment Co., Ltd. holding 7.89% equity in Shanghai Jin Xin; and Shanghai Zhi Jiaye Real Estate Development Co., Ltd. holding 5.89% of equity in Shanghai Jin Xin. The Shanghai Jin Xin equity held by the judgment debtor will mainly be transferred through judicial auction. Specific actions to be taken will await further notice from the Shanghai Financial Court. The company is currently in discussions and negotiations with the lender, and is seeking legal advice to minimize any legal impacts and/or consequences to the lowest extent possible. In addition, trading of the company's shares remains suspended.