Huafa Group: Intends to dispose of 7 commercial land parcels of the Qianhai Ice and Snow World project at a price of 4.405 billion yuan.

Hua Fa Group Announcement: Wholly-owned subsidiary Ronghua Real Estate intends to dispose of 7 commercial land parcels totaling 70,500 square meters in Shenzhen, which were acquired through the Shenzhen Land Reserve Center, for a price of 4.405 billion RMB. It is expected that this transaction will result in a loss of more than 50% of the audited net profit of the company in 2024. This transaction is subject to approval by the company's shareholders meeting.