NEW WORLD DEV (00017) proposes to spin off a securities investment fund for separate listing on the Shanghai Stock Exchange.

NEW WORLD DEV (00017) announces that on 17 September 2026, GF Fund Management Co., Ltd. (as manager of the securities investment fund) (the securities investment fund manager) has submitted to the China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange (SSE) the application materials relating to, among other things, the registration and listing of a publicly offered commercial real estate investment trust fund (the securities investment fund) established by the securities investment fund manager. The proposed spin-off (the proposed spin-off) will involve the separate listing of the securities investment fund on the SSE, with Shanghai New World Building in Shanghai (the asset), a mixed-use property located at 300 Huaihai Middle Road, Huangpu District, Shanghai (comprising Shanghai K11 Art Mall shopping art center and Shanghai K11 ATELIER Shanghai New World Building), as the underlying asset of the securities investment fund. As at the date of this announcement, the asset is indirectly wholly owned by the Company through Shanghai New World Huaihai Property Development Co., Ltd.*.