SHANGHAI IND H (00363): Subsidiary intends to sell 100% equity interest in Shanghai Chengkai Jingxiang Real Estate Co., Ltd. for RMB742.5 million

SHANGHAI IND H (00363) announced that on October 28, 2026, its indirect non-wholly-owned subsidiary Shanghai Industrial Urban Development (Shanghai) Housing Leasing Co., Ltd. intends to sell 100% equity interest in Shanghai Chengkai Jingxiang Real Estate Co., Ltd. to Shanghai Ruiyusi Housing Leasing Co., Ltd. for a consideration of approximately RMB742.5 million. It is understood that the target company developed, owns and operates the "Chengkai Qianjihui Community," an affordable rental housing project located in the Shanghai South Railway Station area of Xuhui District, Shanghai. The project has a total gross floor area of approximately 58,476.32 square meters, comprising affordable rental housing, supporting commercial premises, underground parking spaces and other supporting buildings. The announcement stated that the disposal constitutes part of the Group's strategy to revitalize existing assets, recover funds, optimize its asset and capital structure, lower its net gearing ratio and advance its transition to a more asset-light operating model. The disposal is expected to generate total sale proceeds of approximately RMB742 million and net cash recovery of approximately RMB677 million, thereby enhancing the Group's liquidity and providing additional resources for debt reduction and its principal businesses.