CH OVS G OCEANS (00081) plans to invest approximately 104 million yuan to acquire the remaining 40% equity of two project companies in Hefei from Shenzhen Chuanggu.

CH OVS G OCEANS (00081) announced that on March 30, 2026, CHEC Hefei (an indirect wholly-owned subsidiary of the Company), Shenzhen Chuanggu, CHEC Hongyang Real Estate, Ping An Real Estate, Hefei Project Company One (Hefei CHEC Hongyang Haisheng Real Estate Development Co., Ltd.) and Hefei Project Company Two (Hefei CHEC Hongyang Haichen Real Estate Development Co., Ltd.) entered into a purchase agreement. According to this agreement, CHEC Hefei intends to acquire target interests from Shenzhen Chuanggu, including: (a) Equity One (representing 40% of the total equity of Hefei Project Company One); and (b) Equity Two (representing 40% of the total equity of Hefei Project Company Two) and shareholder loans, for a total consideration of approximately RMB 104 million. As of the date of this announcement, CHEC Hefei and Shenzhen Chuanggu respectively hold 60% and 40% of the equity in Hefei Project Company One and Hefei Project Company Two. Hefei Project Company One is primarily engaged in the development of Hefei Project One in Hefei, Anhui Province, China. Hefei Project Company Two is primarily engaged in the development of Hefei Project Two in Hefei, Anhui Province, China. Upon completion of the acquisition, the Company will indirectly hold all the equity interests of the project companies and thus, the project companies will become indirect wholly-owned subsidiaries of the Company. It is reported that Hefei Project Company One is primarily engaged in the development of Hefei Project One, a property development project named "Jiuyue Garden" located in the Binhu District of Hefei, Anhui Province, China. Hefei Project Company Two is primarily engaged in the development of Hefei Project Two, a property development project named "Jiuyue Business Center" located in the Binhu District of Hefei, Anhui Province, China. The announcement stated that the project companies are primarily engaged in development projects. According to the cooperation agreement, Shenzhen Chuanggu has the right to withdraw its investment in the relevant project companies after the occurrence of specific events under the exit clause. Therefore, to fulfill the obligations under the cooperation agreement, the Group is proceeding with the acquisition. In addition, considering the location and prospects of the projects, the Group believes that the acquisition can enable the Group to fully own the project companies, allowing the Group more flexibility in disposing of the remaining assets and enhancing the overall operational efficiency of the Group, in line with the overall interests of the Group.