CG Services (06098) plans to sell approximately 1.49% of the equity of Wanda in Zhuhai for 3.142 billion yuan.

CG SERVICES (06098) announced that on September 24, 2024, Country Garden Property Hong Kong (an indirect wholly-owned subsidiary of the Company) entered into a supplementary agreement (third) with Zhuhai Wanda and Dalian Wanda. Country Garden Property Hong Kong agreed to sell approximately 1.49% equity interest in Zhuhai Wanda to Wanda for approximately RMB 3.142 billion. After the completion of the sale, Country Garden Property Hong Kong will still hold 22.10935 million shares of the target company, accounting for approximately 0.31% of the total share capital of the target company. Zhuhai Wanda is a limited liability company established in China. The company and its subsidiaries are the largest providers of commercial operation services in China and pioneers in technology-driven business management and digital operations, focusing mainly on commercial plazas. The commercial operation services of the company and its subsidiaries include commercial management services, property management services, and value-added services. The announcement stated that the sale is part of the Group's strategic focus and reduction of financial investment size, to repatriate funds for focusing on the core business of the Group. Furthermore, the sale was completed earlier than the agreed acquisition date under the supplementary agreement (second) (i.e., not later than December 31, 2024), allowing Wanda to fulfill its responsibility of repurchasing the target shares, providing an appropriate timing for the Group to realize investment returns.