SHANGHAI IND H (00363) Subsidiary intends to subscribe for REIT Fund units.

SHANGHAI IND H(00363) announced on November 18, 2024, that Shanghai Ziyun (an indirectly wholly-owned subsidiary of the company) and Ping An Fund have entered into a strategic investor placement agreement. Shanghai Ziyun, as a strategic investor, has agreed to subscribe for the allocated shares by paying the subscription amount. Shanghai Ziyun will subscribe for 15.8284% of the total shares available for sale, which amounts to 158 million fund units. According to the strategic investor placement agreement, Shanghai Ziyun's subscription amount should not exceed RMB 1.38 billion. This amount is calculated by multiplying the allocated shares that will be sold to Shanghai Ziyun by the subscription price announced by Ping An Fund, which is not more than RMB 8.717 per share (excluding all relevant fees and taxes, if any). The actual subscription amount will be determined based on the results of the public offering. It is reported that REIT (Ping An Ningbo Joint Investment Hangzhou Bay Cross-Sea Bridge Closed-End Infrastructure Securities Investment Fund, a infrastructure investment fund to be established in China) will be a publicly raised infrastructure securities investment fund in China. It will mainly invest in 100% equity of the target company and the fee rights of the project owned by the target company. The fund manager of REIT is Ping An Fund. REIT has submitted an application to list the fund units on the Shanghai Stock Exchange. The Group has entered into a share transfer agreement to sell 23.0584% of the equity of the target company in order to realize its investment returns. By subscribing for REIT units, the liquidity and marketability of the assets under REIT will be enhanced, helping the Group to realize capital gains through the sale of fund units in the securities market, and/or obtain cash returns through cash distributions to improve its investment returns in the future.