Core Viewpoint - *ST Jiyuan's stock has been terminated from listing due to continuous trading below 1 yuan for 20 consecutive trading days, leading to a significant decline in its market value and operational challenges [2][3][4]. Group 1: Stock Termination and Transition - The Shenzhen Stock Exchange has decided to terminate the listing of *ST Jiyuan's stock, effective May 29, following a period of poor stock performance [2]. - The company is required to ensure that its shares can enter the National Small and Medium Enterprises Share Transfer System within 45 trading days after delisting [2]. - *ST Jiyuan has appointed Shanxi Securities Co., Ltd. as its main broker to assist with the share transfer process and related matters [2]. Group 2: Financial Performance and Challenges - *ST Jiyuan has experienced a cumulative stock price decline of 83.59% since the beginning of the year, reflecting severe financial distress [3]. - The company reported a revenue of 333 million yuan for 2024, a year-on-year decrease of 3.69%, and a net loss of 439 million yuan, indicating an increase in the loss margin compared to the previous year [4]. - The company faces significant operational challenges due to severe liquidity shortages, overdue debts, and multiple lawsuits, which have led to the freezing of bank accounts and assets [4][5]. Group 3: Audit and Bankruptcy Proceedings - The financial report for 2024 received an audit opinion of "unable to express" from Beijing Dehao International Accounting Firm, highlighting major uncertainties regarding the company's ability to continue operations [5]. - In 2023, *ST Jiyuan applied for bankruptcy reorganization due to its inability to repay debts and lack of repayment capacity, but the pre-reorganization process was ultimately unsuccessful [7]. - The court determined that the pre-reorganization plan was not approved, increasing the risk of delisting for the company [7].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 GR LIFE STYLE COMPANY LIMITED 國銳生活有限公司 （於 香 港 註 冊 成 立 之 有 限 公 司） （股 份 代 號：108） 延遲寄發 有關主要及關連交易 向關連人士提供財務資助之通函 由 於 本 公 司 需 要 額 外 時 間 編 製 及 落 實 將 載 於 該 通 函 之 若 干 資 料，該 通 函 之 寄 發 日 期 預 期 將 延 後 至 二 零 二 五 年 五 月 三 十 日 或 之 前。 茲提述國銳生活有限公司（「本公司」）日期為二零二五年四月十一日之公佈（「該 公 佈」）。除 非 文 義 另 有 所 指，否 則 本 公 佈 所 用 之 專 有 詞 彙 與 該 公 佈 所 界 定 者 具 有 相 同 涵 義。 香 港，二 零 二 五 年 五 月 二 日 誠 如 該 公 佈 披 露，本 公 司 預 計 於 ...

（於香港註冊成立的有限公司） （Stock Code 股份代號：108） NOTIFICATION LETTER 通知信函 Dear Non-registered Holder(s)(Note 1), 30 April 2025 GR LIFE STYLE COMPANY LIMITED (the "Company") – Notification of publication of 2024 Annual Report (the "Current Corporate Communication") GR LIFE STYLE COMPANY LIMITED 國銳生活有限公司 (Incorporated in Hong Kong with limited liability) 如 閣下因任何理由難以以電子郵件方式收取或閱覽公司通訊的網站版本，及欲索取本次及日後所有公司通訊 （附註2） 的印刷本，請填妥及簽署隨附之申請表 格，並以已預付郵費的郵寄標籤寄回本公司之股份過戶登記處卓佳證券登記有限公司（「股份過戶登記處」）（地址為香港夏慤道16號遠東金融中心17樓）（如 在香港投寄毋須貼上郵票），或電郵至108-ec ...

GR LIFE STYLE COMPANY LIMITED 國銳生活有限公司 (Incorporated in Hong Kong with limited liability) （於香港註冊成立的有限公司） （Stock Code 股份代號：108） NOTIFICATION LETTER 通知信函 Dear Registered Shareholders GR LIFE STYLE COMPANY LIMITED (the "Company") – Notice of publication of 2024 Annual Report (the "Current Corporate Communication") 各位註冊股東： The English and Chinese versions of the Company's Current Corporate Communications are now available on the Company's website at www.grlifestyle.com.hk and the website of The Stock Exchange o ...

國銳生活有限公司 （於香港註冊成立之有限公司） （股份代號：108） 股東週年大會通告 茲通告 國銳生活有限公司（「本公司」）謹訂於二零二五年六月二十七日（星 期 五） 下午四時正假座香港中環畢打街20號會德豐大廈7樓舉行股東週年大會（「股 東 週年大會」），藉 以 處 理 下 列 事 項： 普通決議案 及考慮及酌情通過（不 論 有 否 作 出 修 訂）下 列 決 議 案 為 普 通 決 議 案： 香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 通 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 GR LIFE STYLE COMPANY LIMITED (i) 本 公 司 下 屆 股 東 週 年 大 會 結 束 時； (ii) 本公司不時有效之細則或香港任何其他適用法例規定本公司須舉行 下 屆 股 東 週 年 大 會 之 期 限 屆 滿 時；或 (iii) 本公司股東於股東大會上通過普通決議案撤銷或修訂本決議案授予 董 事 之 授 權；及 5. ...

此乃要件 請即處理 閣下如 對本通函任何方面或應採取之行動 有任何疑問，應諮詢股票經紀或其他註 冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如 已 將 名 下 之 國 銳 生 活 有 限 公 司（「本公司」）股 份 全 部 出售或轉讓，應立即將 本通函連同隨附之代表委任表格送交買主或承讓人，或送交經手買賣或轉讓之銀行、 股票經紀或其他代理商，以便轉交買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函之內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 通 函 全 部 或 任 何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 GR LIFE STYLE COMPANY LIMITED 國銳生活有限公司 （於香港註冊成立之有限公司） （股份代號：108） (1)建議授出發行新股份及購回股份之一般授權； (2)建議重選董事； (3)暫停辦理股份過戶登記； 及 (4)股東週年大會通告 本 公 司 將 於 二 零 二 五 年 六 月 二 十 七 日（星 期 五）下 午 四 時 正 假 座 香 ...

Property Development and Investment - The Group's property development and investment projects, including Guorui Square Block B in the PRC and Juxon House in London, significantly contributed to its growth during the year[11]. - The Group aims to enhance its income base through stable rental incomes generated from properties acquired in recent years[15]. - Future investments will focus on property management and services in core cities globally, leveraging strengths in asset management and community operation[16]. - The Group plans to develop an integrated ecosystem encompassing "intelligent real estate and digital healthcare," targeting family doctors and community healthcare services[16]. - The management team is committed to maintaining a prudent approach in capturing investment opportunities in international markets such as the USA and Europe[15]. - The Group's strategy includes the potential divestment of investments that yield decent returns[15]. - The business portfolio will continue to be optimized and rationalized to support future development and growth[18]. - The Group's focus remains on executing existing projects to enhance operational performance and facilitate development[15]. - The Group's property management services in the PRC have been a significant contributor to its overall performance[12]. - As of December 31, 2024, AOCEAN managed 18 major residential and commercial property projects located in the PRC[23]. - The Santa Monica project has a total site area of approximately 40,615 square feet, with 91% of the commercial area and 97% of the residential area leased out during the year[29]. - The Culver City project allows for the development of 139 residential units, with construction having started in September 2021[30]. - Juxon House, located in London, contributed approximately £5.8 million in rental income for the year[36]. - The Group holds all units in Guorui Square Block B, with a gross floor area of approximately 68,685 square meters for office use[37]. - The property management segment operates primarily in the PRC, while the property development and investment segment operates in the PRC, USA, and UK[22]. - The Group plans to optimize and rationalize its business portfolio by 2025 to drive future growth[20]. - The Group aims to diversify its property development operations in the USA through strategic projects like Culver City[31]. Financial Performance - The Group generated revenue of approximately HK$310,017,000 for the year ended 31 December 2024, a decrease of 12.1% compared to HK$352,640,000 for the year ended 31 December 2023[41]. - The Group recorded a loss of approximately HK$919,344,000 for the year, significantly higher than the loss of approximately HK$129,307,000 in the previous year, primarily due to a fair value loss of investment properties of approximately HK$618,718,000[41][44]. - Total assets decreased to approximately HK$5,423,471,000 as of 31 December 2024, down from HK$6,412,623,000 as of 31 December 2023[40]. - The gearing ratio increased to 110.7% as of 31 December 2024, compared to 74.5% as of 31 December 2023, mainly due to a decrease in net assets[43]. - The outstanding balance of bank and other borrowings was approximately HK$2,605,486,000 as of 31 December 2024, a slight decrease from HK$2,650,828,000 as of 31 December 2023[42]. - Available cash and bank balances decreased to approximately HK$193,151,000 as of 31 December 2024, down from HK$305,556,000 as of 31 December 2023[43]. - The total remuneration for employees increased to approximately HK$86,742,000 for the year, compared to approximately HK$73,376,000 in the previous year, reflecting a growth of 18.5%[47]. - Investment properties and properties held for sale amounted to approximately HK$4,603,293,000 as of 31 December 2024, down from approximately HK$5,483,381,000 as of 31 December 2023[55]. - Certain trade and lease receivables of approximately HK$61,324,000 were pledged to secure bank and other loans as of 31 December 2024, an increase from approximately HK$48,031,000 in the previous year[56]. - The Board resolved not to declare any final dividend for the year, consistent with the previous year[50]. - As of December 31, 2024, the Group had contracted but not provided for commitments for construction in progress for an investment property amounting to approximately HK$59,439,000, down from approximately HK$70,301,000 as of December 31, 2023[58]. - The Group had no material contingent liabilities as of December 31, 2024, consistent with the previous year[60]. - The total number of outstanding share options under the Share Option Scheme is 30,000,000, representing approximately 0.9% of the total number of issued shares of the Company[63]. - No significant investments, acquisitions, or disposals of subsidiaries, associates, and joint ventures were made during the year[61]. - The Group plans to continue focusing on property development and investment, as well as relevant asset management services, to create value for shareholders[71]. Environmental, Social, and Governance (ESG) Initiatives - The Group's ESG report emphasizes the importance of materiality, quantitative analysis, balance, and consistency in its reporting practices[83]. - The Board is responsible for overseeing ESG issues and evaluates the Group's performance against ESG-related targets at least annually[90]. - The Group has established a CSR Policy to integrate corporate social responsibility into its business strategy, focusing on marketplace, workplace, community, and environment[92]. - Environmental targets were set for the first time in 2021, covering emissions reduction, waste management, and resource conservation[92]. - The ESG Working Group, consisting of senior management, is tasked with implementing ESG measures and reporting to the Board at least annually[91]. - The Group aims to achieve carbon neutrality in response to the PRC government's goals and stakeholder expectations[92]. - The report includes a complete index for easy reference, ensuring transparency and accessibility of information[83]. - The Group's approach to ESG reporting has remained consistent with the previous year, with specific changes noted regarding GHG emissions and energy calculations[85]. - The Group has established an Environmental, Social, and Governance (ESG) Working Group that reports to the Board at least annually, responsible for implementing ESG measures and analyzing related data[94]. - The Group's Corporate Social Responsibility (CSR) policy aims to integrate CSR into business strategies, focusing on sustainable value creation in economic, social, and environmental aspects[95]. - The Group set environmental targets in 2021 to align with China's "carbon neutrality" goal, focusing on emissions reduction, waste management, and resource conservation[95]. - The Group engages with stakeholders continuously to understand their views and collect feedback, ensuring sustainable growth and long-term value[100]. - The materiality assessment identifies key ESG issues such as "quality of working environment," "environmental protection," and "community contributions," which are reviewed annually[109]. - The Group's material ESG issues will remain unchanged for 2024, reflecting stable business development and industry standards[114]. - The Group conducts annual reviews of the materiality assessment results, which are approved by the Board and the ESG Working Group[113]. - Key ESG issues influencing stakeholder assessments include emissions control, waste management, energy conservation, and employee remuneration[115]. - The Group emphasizes high-quality services, rigorous supply chain management, and ethical practices as part of its sustainability commitment[97]. - The Group's sustainability strategy is rooted in a people-oriented approach, aiming to enhance environmental sustainability and support disadvantaged community groups[98]. Waste and Resource Management - The Group generated approximately 5.04 kg of non-hazardous waste per 1,000 m² in 2024, down from 5.40 kg per 1,000 m² in 2023[133]. - The Group aims to reduce non-hazardous waste intensity by at least 2% by 2026 compared to the 2020 level of approximately 14.69 kg/1,000 m²[133]. - The total chargeable area for property management increased from approximately 1,539,316.41 m² in 2023 to 1,668,350.55 m² in 2024[127]. - The number of households managed increased from approximately 14,934 units in 2023 to 16,089 units in 2024[127]. - The Group plans to continue monitoring GHG emissions and set new targets for reduction activities[128]. - The Group set a target to reduce non-hazardous waste density by at least 2% from the 2020 level of approximately 14.69 kg/1,000 m² by 2026, achieving a current density of approximately 5.04 kg/1,000 m², down from 5.40 kg/1,000 m² in 2023[134]. - The total amount of non-hazardous waste for 2024 is reported at 8.41 tonnes, a 1% increase from 8.32 tonnes in 2023[136]. - The average non-hazardous waste per household decreased by 6% to 0.52 kg/household in 2024 from 0.56 kg/household in 2023[136]. - The average non-hazardous waste intensity by area decreased by 7% to 5.04 kg/1,000 m² in 2024 from 5.40 kg/1,000 m² in 2023[136]. Energy and Water Management - The Group consumed approximately 17.43 MWh of energy per 1,000 m² chargeable area in the current year, representing a decrease of approximately 5% from 18.44 MWh/1,000 m² in 2023[144]. - The Group encourages employees to classify waste and promotes a "paperless" office initiative to enhance waste reduction awareness[137]. - The Group implements environmental protection policies including green management and the use of environmentally friendly equipment to reduce emissions[139]. - The Group aims to promote waste reduction practices among external stakeholders, encouraging the use of eco-friendly bags and recycling[138]. - The Group has established plans for energy and water saving, including maintaining air conditioning temperatures at 26ºC in summer and 22ºC in winter[141]. - The Group plans to install energy-efficient systems and promote environmental awareness training for employees[143]. - Direct energy consumption decreased significantly, with petrol down 57% to 10.84 MWh and diesel down 67% to 5.31 MWh[146]. - Total energy consumption decreased by 11% to 691.17 MWh, while indirect energy consumption increased by 3% to 28,384.41 MWh[146]. - The average energy consumption per household decreased by 5% to 1.81 MWh[146]. - Water consumption increased by 2% to 218,004 m³, while water consumption intensity per area decreased by 6% to 130.67 m³/1,000 m²[155]. - The Group aims to reduce water consumption intensity by at least 2% by 2026 compared to 2020 levels[152]. - The Group has implemented various water conservation measures, including rainwater recycling and automatic faucets[151]. - The introduction of an IoT system for lighting control aims to improve energy efficiency[149]. - The Group has set a target to organize energy consumption control activities annually to raise employee awareness[148]. Employee and Workplace Management - The Group maintains a workplace culture of equality and diversity, ensuring employee well-being and safety[175]. - There were no reported non-compliance incidents with relevant labor laws in the operating locations during the year[176]. - The Group offers competitive remuneration and welfare packages to attract and retain talent, including various benefits such as social insurance and housing provident fund contributions[181]. - As of December 31, 2024, the Group had a total of 428 employees, up from 305 in 2023, indicating a significant increase in workforce[182]. - The employee turnover rate for the year was approximately 52.80%, a substantial rise from 15.08% in 2023[182]. - The average training hours per employee were approximately 32.07 hours in 2024, slightly down from 36.00 hours in 2023, with 100% of staff receiving training[200]. - The number of days lost due to work injuries increased to 180 days in 2024, compared to 98 days in 2023[193]. - The Group's employee distribution by gender in 2024 was 108 males and 287 females, reflecting a gender ratio of approximately 27% male to 73% female[184]. - The Group's employee distribution by age shows a notable increase in employees aged 21-30, from 66 in 2023 to 90 in 2024[189]. - The Group's senior management category saw an increase from 42 employees in 2023 to 80 in 2024, indicating a focus on strengthening leadership[186]. - The Group has implemented health and safety measures, achieving OHSAS18001:2007 certification, to enhance workplace safety[192]. - The Group did not report any work-related fatalities over the past three years, maintaining a focus on employee safety[193]. - The Group's commitment to a diversified workplace includes regular performance assessments to inform salary adjustments and performance pay[199].

Group 1 - *ST Jiyao has triggered the delisting condition due to its stock price closing below 1 yuan for 20 consecutive trading days, with the latest price at 0.21 yuan per share, reflecting an 83.59% decline year-to-date [2][5][6] - The stock will be suspended from trading starting April 24, 2025, and will not enter a delisting transition period [5][7] - The company has been experiencing continuous losses, with a projected net loss of 500 million to 850 million yuan for the fiscal year 2024, and an estimated net asset deficit of 1.18 billion to 830 million yuan [8] Group 2 - There has been a noticeable increase in cases of delisting due to stock prices falling below 1 yuan in the A-share market, with companies like *ST Xulan, *ST Jiayu, *ST Dongfang, and *ST Furun also receiving notices for potential delisting [3][10] - Other companies are also approaching the 1 yuan threshold, with *ST Pengbo's stock price at 0.76 yuan, *ST Jiu You at 1.18 yuan, and *ST Longjin fluctuating between 1.1 and 1.3 yuan [11][12]

Core Viewpoint - The number of companies facing delisting due to stock prices falling below par value has significantly increased in the A-share market, with *ST Jiyao being a notable example [1][5]. Group 1: Company Specifics - *ST Jiyao (300108.SZ) has seen its stock price drop to 0.30 yuan, marking the 18th consecutive trading day below 1 yuan, which may lead to early delisting [2][4]. - The company is primarily engaged in the pharmaceutical industry, including production, wholesale, retail, and healthcare services [4]. - Financially, *ST Jiyao has reported continuous losses, projecting a net loss of 500 million to 850 million yuan for 2024, with an expected negative net asset value of -1.18 billion to -830 million yuan [4]. Group 2: Market Trends - Recent statistics indicate a rise in A-share companies that have received notices for potential delisting due to stock prices consistently falling below 1 yuan, including *ST Xulan, *ST Jiayu, *ST Dongfang, and *ST Furun [5]. - *ST Dongfang received a notice on April 14, 2025, regarding the termination of its stock listing after 20 consecutive trading days below 1 yuan [5]. - *ST Furun has faced both par value and market value delisting risks, having received a notice on April 10, 2025, for similar reasons [5]. Group 3: Operational Challenges - Companies like *ST Jiayu are under significant operational pressure, with a reported 59.94% decline in sales revenue to 482 million yuan, and a net loss of 356 million yuan for 2024 [6]. - The focus for many of these companies is on risk management and debt resolution, with efforts to stabilize operations amid financial difficulties [6].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 GR LIFE STYLE COMPANY LIMITED 國銳生活有限公司 （於 香 港 註 冊 成 立 之 有 限 公 司） （股 份 代 號：108） 主要及關連交易 向關連人士提供財務資助 提供財務資助 本 公 司 將 舉 行 股 東 特 別 大 會，以 供 獨 立 股 東 考 慮 及 酌 情 批 准 就 保 證 合 同 及 抵 押 合 同 擬 進 行 之 主 要 及 關 連 交 易 以 及 據 此 擬 進 行 之 交 易。 由 全 體 獨 立 非 執 行 董 事 組 成 的 獨 立 董 事 委 員 會 已 告 成 立，以 經 考 慮 獨 立 財 務 顧 問 的 建 議 後，就 保 證 合 同 及 抵 押 合 同 項 下 之 關 連 交 易 是 否 按 一 般 商 業 條 款 進 行、是 否 於 本 集 團 一 般 及 日 常 業 務 過 ...