Ruian real estate: Entering into a cooperation agreement with China Life Trust constitutes a related party transaction.

Ruian Real Estate announced that the company has entered into a cooperation agreement with China Life Trust to establish a joint venture to engage in equity transfer and holding of project assets. The joint venture will hold 99% of the equity in the project company. The company holds a 40.5% partnership interest in the joint venture through Ruian General Partner and Shanghai Ruian. This transaction constitutes a related party transaction under Chapter 14A of the Listing Rules, but will not have a significant impact on the financial statements of the Group.