GREENTOWN CHINA (03900) enters into a real estate development entrustment management agreement with Hangzhou Zhongyi Jiangchen Property.

GREEN TOWN CHINA (03900) announced that on October 20, 2025, Greentown Real Estate Construction Management (a non-wholly owned subsidiary of the company) entered into a real estate development entrusted management agreement with Hangzhou Zhongyi Jiangchen Real Estate (including) for the project management services of the project. Under the agreement, Greentown Real Estate Construction Management agreed to provide project management services for the project to Hangzhou Zhongyi Jiangchen Real Estate. It is reported that the project is located in the Qiantang District of Hangzhou, Zhejiang Province, with a total construction area of approximately 90,711 square meters, planned to be developed as residential properties. The Board believes that this agreement will allow the group to leverage its technology, expertise, and experience in property development and project management in China to promote the construction project and enhance its quality, thus generating income without the need for a large capital investment. The selection of the project management services provider and determination of the price were conducted through an open tender process. Several bidders participated in the tender, and after evaluation and comprehensive comparison of the bidders, Greentown Real Estate Construction Management was selected in accordance with the relevant requirements of the tender documents. Therefore, Greentown Real Estate Construction Management was selected in a competitive tender process, and the price and terms of the agreement were determined in accordance with the tender documents, conforming to market practices and the commercial interests of the group.