CHINA JINMAO (00817) plans to increase its capital to Beijing Chao by 350 million yuan and to Beijing Manmao by 2.15 billion yuan.

China Jinmao (00817) announced that on September 16, 2025, its indirectly wholly-owned subsidiary Beijing Yicheng signed a capital increase agreement with Poly Real Estate and Beijing Chaoxin. Under the agreement, Beijing Yicheng and Poly Real Estate agreed to make capital injections into Beijing Chaoxin at the same price. Beijing Yicheng injected RMB 350 million and Poly Real Estate injected RMB 2.15 billion into Beijing Chaoxin. After the completion of the capital increase, Beijing Yicheng and Poly Real Estate will hold 30% and 70% of Beijing Chaoxin's equity respectively. In addition, Beijing Yicheng also signed a capital increase agreement with Poly Real Estate and Beijing Manmao. Under this agreement, Beijing Yicheng and Poly Real Estate agreed to make capital injections into Beijing Manmao at the same price. Beijing Yicheng injected RMB 2.15 billion and Poly Real Estate injected RMB 350 million into Beijing Manmao. After the completion of the second capital increase, Beijing Yicheng and Poly Real Estate will hold 70% and 30% of Beijing Manmao's equity respectively. On February 11, 2025, Beijing Yicheng and Poly Real Estate formed a joint venture with a 50%:50% stake and successfully bid for the land use rights of Beijing Chaoxin and Beijing Manmao at a total price of RMB 8.7295 billion through a public bidding process. The transaction price for Beijing Chaoxin's land was RMB 4.3095 billion and for Beijing Manmao's land was RMB 4.42 billion. They established Beijing Chaoxin and Beijing Manmao as project companies to develop the respective lands. The land of Beijing Chaoxin and Beijing Manmao is located in Sanjianfang Township, Chaoyang District, Beijing, China. The total land area is approximately 68,996 square meters, with a planned construction area of approximately 172,936 square meters. The land of Beijing Chaoxin is about 32,154 square meters with a planned construction area of 80,830 square meters. It will be developed into residential projects and a kindergarten and is planned to be completed in January 2027. The land of Beijing Manmao is about 36,842 square meters with a planned construction area of 92,106 square meters. It will be developed into residential projects and is planned to be completed in December 2026. After the transaction is completed, the company and Poly Real Estate can increase their equity stake in their respective projects, which will facilitate the smooth development of their projects.