ONEWO (02602) purchased 75% of the equity of Fuko Industry held by Shenzhen Vanke Industry.

ONEWO(02602) announced that on December 30, 2024, China Vanke Industrial Development (as the seller) and Shenzhen China Vanke Property Services (as the buyer) entered into a share transfer agreement. According to the share transfer agreement, the seller agreed to sell and the buyer agreed to purchase 75% of the equity of Fu Ke Industry without any encumbrances. After the completion of the share transfer, Fu Ke Industry will become a subsidiary of the company, and its financial performance will be consolidated into the group's financial statements; while Wanhe Tienuo, in which Fu Ke Industry holds a 40% stake, will not become a subsidiary of the company, and its financial performance will not be consolidated into the group's financial statements. As of the date of this announcement, the company has trade receivables and other balances with CHINA VANKE, a related party. After fair negotiations, it was agreed that the target project assets would be used to offset the RMB 142 million receivables in the related party's balance with RMB 142 million. The transaction involves the company's wholly-owned subsidiary, Shenzhen China Vanke Property Services, purchasing 75% of the equity of Fu Ke Industry held by Shenzhen China Vanke Development, thereby indirectly holding a 30% equity interest in the target project. The 30% equity interest in the target project under the share transfer is proportional to the scale of the project that the group leases as its headquarters. After the share transfer, the group will use the corresponding assets, reducing the payment of lease costs and decreasing the company's accounts receivable balance. The share transfer aligns with the company's development strategy and contributes positively to the company's interests. China Vanke Industrial Development confirms that the full amount of each consideration received for the sale of 75% equity of Fu Ke Industry under the share transfer agreement will be used exclusively to repay existing debts owed to CHINA VANKE, its direct or indirect shareholders, or related parties. The company will take measures to ensure the security of the funds received as consideration for the transfer.