Tianjin Jintou State-owned Urban Development (600322.SH) terminates the transfer of its holding subsidiary Tianjin Tianji Real Estate Development Co., Ltd. with a 60% equity stake.

Announcement from Tianjin Jintou State-owned Urban Development (600322.SH): According to a previous announcement, on March 30, 2022, the company formally listed the transfer of 60% equity of Tianjin Company in Tianjin Property Rights Exchange Center with an initial listing price of 29915.736 million yuan, based on the evaluation result filed by the national asset regulatory agency. The company will sign a transaction agreement based on the public listing results, and the main contents of the agreement such as the final transaction counterparty, transaction price, payment method, etc. are subject to the transaction agreement. As of now, the two parties have not yet formally signed a relevant equity transfer agreement, and the related transactions have not been implemented. During the process of advancing the transaction, the two parties communicated further on the matters of this transaction plan, but ultimately did not reach a consensus on the relevant matters. The company re-planned the proposed transfer of equity. After friendly negotiation, careful study, and thorough demonstration by the two parties, the company decided to terminate the transaction in order to safeguard the interests of the company and shareholders. On December 26, 2024, the company held the 23rd interim board meeting of the eleventh session, and approved the resolution "Regarding the Termination of the Transfer of 60% Equity of the Holding Subsidiary Tianjin Tianji Real Estate Development Co., Ltd." agreeing to terminate the transaction.