CHI MER LAND(00978) plans to acquire 100% equity of Nanjing Cushman & Wakefield Real Estate for approximately 2.59 billion yuan.

CHI MER LAND (00978) announced that on November 20, 2025, Nanjing Zhaopingzhisheng Commercial Management Co., Ltd. (Nanjing Zhaoping, an indirectly non-wholly owned subsidiary of the Company) entered into an equity transfer agreement with CITIC SEC. Under this agreement, CITIC SEC (as the plan manager of the asset-backed special plan, acting on behalf of the asset-backed securities holders) agreed to transfer 100% equity of the project company Nanjing Zhaoshangqisheng Real Estate Co., Ltd. (as physical distribution under the asset-backed special plan) to Nanjing Zhaoping, valued at RMB 259 million. The project company is a limited company established in China on August 4, 2024, mainly engaged in the development and construction of real estate projects on land. The land is located at No. 1 and No. 2, West of Jingwu Road Phase II, Maogaoqiao Street, Qixia District, Nanjing City, Jiangsu Province, China, with a total land area of 66,000 square meters. The land is designated for residential use for a term of 70 years and for commercial use for a term of 40 years. As of the date of this announcement, the project company is 100% owned by CITIC SEC (as the plan manager of the asset-backed special plan, acting on behalf of the asset-backed securities holders). The main reason for the Group's acquisition of equity in the project company is the maturity of the asset-backed special plan and CITIC SEC's (as the plan manager of the asset-backed special plan) decision to make a final physical distribution to and Nanjing Zhaoping (as the asset-backed securities holders) agreeing to it. The Group is considering adjusting the use of the commercial complex in a timely manner to align with the local government's future development plans for the community, thereby creating a new high-quality commercial environment that fits the local community consumption patterns.