GUANGDONG INV(00270)Subsidiary plans to sell 35% equity of Guangdong AEON STORES.

GUANGDONG INV (00270) announced that the seller, Guangdong Yuehai Tianhe City Department Store Development Co., Ltd. (an indirect non-wholly-owned subsidiary of the company), intends to publicly tender its 35% equity in Guangdong AEON STORES (an associated company of the company) at the Guangdong Equity Exchange. The minimum price (i.e. the minimum bidding price for the potential sale) is RMB 152 million, while the final price of the potential sale will depend on the final bid price, but in no case shall it be lower than the minimum price. If the potential sale is implemented and completed, the seller will no longer hold any equity in Guangdong AEON STORES. In recent years, the frequency and amount of cash dividends distributed by Guangdong AEON STORES have been on a downward trend. After assessing the overall development trend of Guangdong AEON STORES in recent years and considering the group's strategic development plans, the board of directors believes that the potential sale (if carried out) will benefit the focus of the group's main business (especially the core business of water resources), optimize the group's asset structure, and thereby expect this move to be beneficial to the overall development of the group.