SPRING REIT(01426): Hua Mao Property's first quarter occupancy rate is about 89%

SPRING REIT (01426) announced that for the three months ending on March 31, 2026, the average monthly rent for Hua Mao Property was RMB 334 per square meter, a decrease of 1.5% compared to the previous quarter. The occupancy rate was around 89%, a decrease of 1 percentage point from the previous quarter. The Beijing office market continues to be challenging, and the team will prioritize maintaining occupancy rates rather than rental rates. SPRING REIT completed the acquisition of 68% stake in Huizhou Property on September 28, 2022. For the three months ending on March 31, 2026, the average monthly rent for Huizhou Property was RMB 175 per square meter, an increase of 2.9% compared to the previous quarter. The occupancy rate was around 99%, remaining unchanged from the previous quarter. In terms of average monthly rent, fixed rent was RMB 149 per square meter (Q4 2025: RMB 149 per square meter) and variable rent was RMB 26 per square meter (Q4 2025: RMB 21 per square meter). The total leasable area of Huizhou Property as of March 31, 2026, was 102,869 square meters. The total leasable area of this property may change from time to time due to reconfigurations to meet tenant needs.