Core Viewpoint - The company is preparing pro forma financial statements in relation to a major asset restructuring plan, which involves transferring real estate development-related assets and liabilities to its controlling shareholder, China Communications Real Estate Group [5][6][7]. Group 1: Company Overview - China Communications Real Estate Co., Ltd. is registered in Chongqing and primarily engages in real estate development, property management, high-tech development, and equipment leasing [5]. - The company was established on February 3, 1993, and was approved for listing on the Shenzhen Stock Exchange in April 1997 [5]. - As of December 31, 2024, the company has issued a total capital of 747,098,401.00 yuan [5]. Group 2: Restructuring Plan - The company plans to transfer its real estate development-related assets and liabilities to its controlling shareholder, with the transaction price set at 1 yuan despite the assessed value of the assets being negative 297,604.13 million yuan [6][7]. - The transition period for the assets will be from the assessment base date until the end of the month of the delivery date, during which the profits and losses will be borne by the controlling shareholder [6]. Group 3: Financial Statement Preparation - The pro forma financial statements are prepared based on the assumption of going concern and in accordance with relevant regulations from the China Securities Regulatory Commission [6][8]. - The financial statements will not consider any potential taxes or fees arising from the transaction [8]. - The pro forma financial statements will only report and disclose pro forma financial information, excluding cash flow statements and changes in equity statements [9]. Group 4: Accounting Policies - The company adopts a cost model for investment properties and fixed assets, with depreciation calculated using the straight-line method based on the estimated useful life and residual value [23][24]. - Long-term equity investments are initially measured at cost, with adjustments made based on the company's share of the investee's net assets [21][22]. - The company recognizes revenue when control of the goods or services is transferred to the customer, with specific accounting treatments for contract assets and liabilities [30].

Core Viewpoint - China International Financial Co., Ltd. provides a special verification opinion regarding the abnormal performance of China Communications Real Estate Co., Ltd. prior to a major asset restructuring, indicating the transfer of real estate development-related assets and liabilities to China Communications Real Estate Group Co., Ltd. Group 1: Commitment Fulfillment - The company has fulfilled its commitments made since its listing, with no irregularities or unfulfilled promises identified [1][2][3] - Specific commitments include the non-transfer of shares for a period of five years and conditions for additional share issuance based on performance metrics [2][3][4] Group 2: Asset Transfer and Restructuring - The proposed transaction involves transferring real estate development assets and liabilities to the group, with the aim of streamlining operations and avoiding competition [5][6] - The restructuring is expected to resolve potential conflicts of interest and ensure independent operations for both entities involved [6][7] Group 3: Financial Independence and Governance - The company guarantees financial independence, ensuring separate financial management and decision-making processes [10][11] - Commitments include maintaining independent personnel, assets, and business operations to avoid conflicts with the controlling shareholder [10][11]

Core Viewpoint - The company is undergoing a strategic transformation by transferring its real estate development assets and liabilities to its controlling shareholder, aiming to focus on property management and asset management for sustainable growth [4][8]. Fundraising Overview - The company raised a total of RMB 443.80 million by issuing 51,664,712 shares at RMB 8.59 per share, with a net amount of RMB 438.25 million after deducting issuance costs [1]. - The funds were allocated to specific projects, including RMB 157.36 million for "Changsha Fengming Dongfang" and RMB 276.93 million for "Tianjin Chunying Haihe" [1]. Fund Utilization - As of the date of the report, the company has fully utilized the raised funds according to the specified purposes and has closed the fundraising account, transferring any remaining balance to its own funds for permanent working capital [2][3]. Project Termination and Transfer - The company plans to terminate and transfer the fundraising projects "Changsha Fengming Dongfang" and "Tianjin Chunying Haihe" due to ongoing losses in its real estate development business [4][6]. - The transfer aims to reduce the company's debt ratio and optimize its asset structure, thereby enhancing profitability and operational sustainability [4][8]. Transaction Details - The transaction involves transferring real estate development-related assets and liabilities to the controlling shareholder, China Communications Real Estate Group [4][5]. - The transaction price is based on an asset evaluation report, with the net asset value of the transferred assets assessed at a specific date [7]. Impact of the Transaction - The restructuring will allow the company to shift its focus from real estate development to property services and asset management, promoting a light-asset operational model [8]. - This strategic shift is expected to improve the company's business structure, enhance its value, and protect the interests of minority shareholders [8][9]. Approval Process - The transaction has been approved by the board of directors and independent directors, and it is pending approval from the shareholders' meeting [9].

Group 1 - The company plans to transfer its real estate development-related assets and liabilities to China Communications Real Estate Group Co., Ltd. [1] - The independent financial advisor has been appointed to oversee the transaction and ensure compliance with relevant regulations [1][2] - The company has established a strict confidentiality system to protect insider information during the planning phase of the transaction [2] Group 2 - The company has implemented necessary protective measures in accordance with legal requirements and internal management systems [2] - The scope of individuals with access to insider information has been minimized, and confidentiality agreements have been signed with relevant parties [2] - The independent financial advisor confirms that the company has adhered to legal obligations regarding the confidentiality of the transaction [2]

Core Viewpoint - The company plans to sell its real estate development assets and liabilities to its controlling shareholder, aiming to shift focus towards property services and asset management, thereby achieving a strategic transformation to a light asset operation model [7][9][22]. Transaction Overview - The transaction involves a cash acquisition of real estate development-related assets and liabilities for a nominal price of 1 yuan [7][23]. - The transaction is classified as a major asset restructuring and constitutes a related party transaction, as the buyer is the controlling shareholder [25][27]. Financial Impact - Post-transaction, the company's total assets are expected to decrease by 98.11% to 203,598.71 million yuan, while total liabilities will drop by 99.15% to 81,790.42 million yuan [10][28]. - The asset-liability ratio will improve significantly from 89.75% to 40.17%, a reduction of 49.58 percentage points [10][28]. - The company anticipates a substantial increase in net profit from -639,605.40 million yuan to 9,785.76 million yuan, representing a 101.53% improvement [10][28]. Strategic Goals - The company aims to enhance its competitive advantage by focusing on property management and asset management, aligning with the strategic direction of its parent group [9][26]. - The restructuring is expected to optimize the company's business structure, support sustainable development, and protect the interests of minority shareholders [9][26][22]. Approval Process - The transaction has undergone necessary internal approvals, including review by independent directors, and will require further regulatory approvals [11][12]. - The controlling shareholder has expressed principle support for the transaction, committing to adhere to relevant regulations regarding shareholding during the process [12][13].

| | 页 次 | | | | --- | --- | --- | --- | | 一、审计报告 | 1 - | | 7 | | 二、拟置出资产专项模拟已审财务报表 | | | | | 拟置出资产专项模拟合并资产负债表 | 1 | - | 2 | | 拟置出资产专项模拟合并利润表 | 3 | | | | 拟置出资产专项模拟合并现金流量表 | 4 - | | 5 | | 拟置出资产专项模拟母公司资产负债表 | 6 | - | 7 | | 拟置出资产专项模拟母公司利润表 | 8 | | | | 拟置出资产专项模拟母公司现金流量表 | 9 - | | 10 | | 拟置出资产专项模拟财务报表附注 | 11 | - | 282 | 中交地产股份有限公司 拟置出资产专项审计报告 2022年度至2024年度 中交地产股份有限公司 目 录 审计报告 安永华明（2025）专字第70071827_A08号 中交地产股份有限公司 中交地产股份有限公司全体股东： 一、审计意见 我们审计了中交地产股份有限公司拟置出资产按模拟财务报表附注二所述的编制 基础编制的模拟财务报表，包括2022年12月31日、2023年12月31日及2024 ...

中国国际金融股份有限公司 关于中交地产股份有限公司 本次交易产业政策和交易类型之独立财务 顾问核查意见 独立财务顾问 签署日期：二〇二五年六月 声明与承诺 中交地产股份有限公司（以下简称"上市公司"、"公司"）拟将持有的房地产 开发业务相关资产及负债转让给中交房地产集团有限公司（以下简称"中交房地 产集团"）（以下简称"本次交易"）。中国国际金融股份有限公司（以下简称"本独 立财务顾问"）接受上市公司委托，担任本次交易的独立财务顾问。 本独立财务顾问核查意见系依据中国证监会《监管规则适用指引——上市类 第 1 号》《深圳证券交易所上市公司自律监管指引第 8 号——重大资产重组》等 相关规定及要求，按照证券行业公认的业务标准、道德规范，本着诚实信用、勤 勉尽责的态度，通过尽职调查和对上市公司相关申报和披露文件审慎核查后出具， 以供中国证监会、证券交易所、广大投资者及有关各方参考。 作为本次交易的独立财务顾问，对此提出的意见是在假设本次交易的各方当 事人均按相关协议、承诺的条款全面履行其所有义务并承担其全部责任的基础上 提出的，本独立财务顾问现就相关事项声明和承诺如下： 1、本独立财务顾问与本次交易各方无任何关联 ...

中国国际金融股份有限公司 关于中交地产股份有限公司 重大资产出售暨关联交易涉及房地产业务之专项核查意见 中交地产股份有限公司（以下简称"上市公司"、"公司"）拟将持有的房地 产开发业务相关资产及负债转让至公司控股股东中交房地产集团有限公司（以下 简称"本次交易"、"本次重组"），中国国际金融股份有限公司接受中交地产的委 托，担任本次交易的独立财务顾问。 根据《国务院关于促进节约集约用地的通知》（国发[2008]3 号）、《国务院关 于坚决遏制部分城市房价过快上涨的通知》（国发[2010]10 号）和《国务院办公 厅关于继续做好房地产市场调控工作的通知》（国办发[2013]17 号）等相关国务 院房地产调控政策规定，以及中国证监会发布的《证监会调整上市公司再融资、 并购重组涉及房地产业务监管政策》（以下简称"《监管政策》"）有关涉及房地产 业务的上市公司再融资、并购重组的核查要求，本独立财务顾问对中交地产及其 截至报告期末合并报表范围内的子公司（以下合称"中交地产及其子公司"）报 告期内在中国境内从事房地产开发业务是否涉及闲置土地、炒地和捂盘惜售、哄 抬房价等方面合规性问题进行了专项核查，并出具本核查报告。 一 ...

北京市嘉源律师事务所 关于中交地产股份有限公司 重大资产出售暨关联交易的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 | 释义 3 | | --- | | 正文 8 | | 一、 本次重大资产出售的方案 8 | | 二、 本次重大资产出售相关方的主体资格 10 | | 三、 本次重大资产出售的相关协议 20 | | 四、 本次重大资产出售的授权和批准 21 | | 五、 本次重大资产出售的标的资产 23 | | 六、 本次重大资产出售的其他重要事项 132 | | 七、 本次重大资产出售的实质条件 135 | | 八、 关联交易与同业竞争 139 | | 九、 信息披露 142 | | 十、 参与本次重大资产出售的证券服务机构及其资格 143 | | 十一、 上市公司内幕信息知情人登记制度的制定和执行情况 144 | | 十二、 结论性意见 145 | | 附表一：标的公司及其下属企业自有有证房屋清单 149 | | 附表二：标的公司及其下属企业的行政处罚 171 | | 附表三：标的公司及其下属企业的重大未决诉讼、仲裁案件 180 | 中交地产·法律意见书 嘉源律师事务所 释义 ...

中国国际金融股份有限公司 关于本次交易不构成重组上市的核查意见 中交地产股份有限公司（以下简称"上市公司"、"公司"）拟将持有的房地 产开发业务相关资产及负债转让给中交房地产集团有限公司（以下简称"中交房 地产集团"）（以下简称"本次交易"）。中国国际金融股份有限公司（以下简称"本 独立财务顾问"）接受上市公司委托，担任本次交易的独立财务顾问。本独立财 务顾问就本次交易是否构成《重组管理办法》第十三条规定的重组上市进行核查 并发表如下意见： 经核查，本独立财务顾问认为：本次交易为重大资产出售，不涉及发行股份， 不会导致上市公司股权结构发生变化。本次交易不构成《上市公司重大资产重组 管理办法》第十三条规定的重组上市情形。 （以下无正文） 1 （此页无正文，为《中国国际金融股份有限公司关于本次交易不构成重组上市的 核查意见》之签字盖章页） 独立财务顾问主办人： 刘思远 刘振东 中国国际金融股份有限公司 年 月 日 2 ...