ONEWO (02602) has entered into a series of debt repayment agreements with various sellers and debtors, involving several subsidiaries and related parties, with a total consideration of RMB 703 million.

ONEWO (02602) has announced that on December 30, 2024, several subsidiary companies and related parties of the Group have entered into a series of debt repayment agreements with various sellers and debtors. The sellers and debtors have agreed to transfer properties or parking spaces to several subsidiary companies of the Group to settle several amounts payable to the Group by the sellers and/or debtors. The total consideration for these debt repayment agreements is RMB 703 million. As of the date of this announcement, the Company has trade receivables and other balances with CHINA VANKE and related parties. After fair negotiations, all parties have agreed to offset the due receivables of RMB 689.9 million from the related party balance of RMB 703 million with the payment of properties. As some development projects are managed independently by joint venture companies of related parties, the remaining difference of RMB 4.2543 million from the acquisition price will be offset by the prepayment of business payments owed by the sellers and/or debtors to the Group, with the remaining price of RMB 8.4723 million to be paid by the Group. CHINA VANKE has confirmed that the acquired properties are free from substantial encumbrances and the acquisition price will be used to offset existing debts owed by CHINA VANKE and its directly or indirectly held entities or related parties to the Company. The Company will take necessary measures to ensure the secure transactions of the properties to achieve the recovery of trade receivables.