Jinan Construction Group plans to transfer its creditor's rights and assets related to Evergrande Real Estate and others for 2.799 billion yuan.

On August 10, Jinan Construction Group Co., Ltd. announced that, based on a comprehensive consideration of the company's actual operating conditions and the current market environment, it will transfer its creditor's rights and assets against the debtor Evergrande Group Co., Ltd., its affiliates, and other debtors, as well as all rights and/or interests related to these assets. The subject of this transaction is the creditor's rights and assets that Jinan Construction Group holds against the debtor Evergrande Group Co., Ltd., its affiliates, and other debtors, with an original value totaling 4.343 billion yuan. After assessment, the transfer price amounts to 2.799 billion yuan. The transferee of this creditor's rights transfer is Jinan Guotou Park Operation Management Co., Ltd. The controlling shareholder of the transferee is Jinan Municipal State-owned Assets Investment Co., Ltd., which is actually controlled by the Jinan State-owned Assets Supervision and Administration Commission. As of the date of this announcement, this transaction arrangement has been reviewed and approved by the issuer's board of directors, and the contract will be signed in the near future.