Tianjin Investment City: Completing the disposal of assets and liabilities related to real estate development business.

The announcement of the transfer of assets has been made by Jin Investment City Development. The company has completed a major asset sale and related party transaction. In this transaction, Jin Investment City Development transferred its real estate development-related assets and liabilities to City Development for a cash consideration of 1 yuan. The disposed assets include equity, debt, and liabilities related to real estate development business, involving 27 holding and participating companies. As of the valuation date of December 31, 2024, the total asset book value of the disposed assets was 16.118 billion yuan, the valuation was 12.46 billion yuan, the impairment amount was 3.658 billion yuan, and the impairment rate was 22.70%. The liability book value was 12.699 billion yuan, with the same valuation, no increase or decrease in value. The net asset book value was 3.42 billion yuan, the valuation was -2.39 billion yuan, and the impairment rate was 106.99%. This transaction has completed the relevant decision-making and approval procedures, and was completed on December 24, 2025.