ONEWO (02602) acquires the ownership rights of the Rotterdam Vanke Life Plaza project from Wing On Properties.

ONEWO(02602) announced that on December 30, 2024, Wing On Land (as the seller) and a wholly-owned subsidiary of the company, Shenyang Pouyu (as the buyer), entered into an asset purchase agreement. According to the agreement, the seller agreed to sell to the buyer, and the buyer agreed to purchase from the seller, all ownership rights of the target property for a total price of 150 million Chinese yuan. The target property is the Rotterdam Vanke Life Square project with a total construction area of 31,600 square meters located at 212 Changbai Mountain Tourism Road, Heping District, Shenyang City, owned by Wing On Land (including property ownership and corresponding state-owned construction land use rights). The planned use of the target property is commercial. After the acquisition, the buyer will obtain all usage rights, income rights, naming rights, and other rights of the target property. Except for a mortgage arrangement with Dalian Bank Shenyang Branch for a remaining balance of 87 million Chinese yuan, there are no other mortgages, restrictions, arbitration matters, or judicial measures such as attachment, freeze, or hindrance to property transfer on the target property. As of the date of this announcement, the company has trade receivables with CHINA VANKE and other related party balances. After fair negotiations, it was agreed that the purchase price of 63 million Chinese yuan from the aforementioned related party balance would be paid as the due receivable, with the transaction being the purchase of all ownership rights of the target property from Wing On Land by Shenyang Pouyu. The target property is located at 212 Changbai Mountain Tourism Road, Heping District, Shenyang City, and is the first centralized community commercial property on Changbai Island. After this transaction is completed, leveraging the strategic advantages of Diexin Street, the operation of the property can be further improved. Wing On Land confirmed that the 63 million Chinese yuan in the purchase price will be used to repay existing debts owed by the company to CHINA VANKE and its direct, indirect shareholding entities, or related parties. The purchase price must be paid by Shenyang Pouyu to Wing On Land according to the payment schedule stipulated in the asset purchase agreement, with the equivalent funds being remitted to the company on the next working day after receipt by Wing On Land (this arrangement).