Group 1 - The company held a meeting on June 30, 2025, via communication methods, with all four independent directors present, complying with relevant regulations [1] - The independent directors unanimously approved the proposal for the subsidiary Guangzhou Asset Management Co., Ltd. to increase its stake in Yuexiu Property Holdings Limited, indicating a strategic alignment with the company's business direction [1] - The investment will be conducted through the Hong Kong Stock Connect in the secondary market, ensuring compliance with legal and regulatory standards, and is expected to enhance collaboration and mutual benefits between the two entities [1] Group 2 - The company emphasizes the importance of monitoring real estate industry policies and market developments, as well as the performance and stock price trends of the target company to ensure successful investment outcomes [1] - The independent directors have advised the board to ensure that related directors abstain from voting on this matter during the board meeting [1]

Core Viewpoint - Yuexiu Capital has authorized its subsidiary Guangzhou Asset to increase its stake in Yuexiu Property through the Hong Kong Stock Connect, using up to 204 million yuan of its own funds, with the aim of deepening strategic cooperation and achieving stable investment returns [1] Group 1: Company Actions - In 2024, Yuexiu Capital previously authorized Guangzhou Asset to use up to 557 million yuan for increasing its stake in Yuexiu Property, resulting in the purchase of 78.38 million shares, accounting for 1.95% of the total shares, with a total expenditure of 352 million yuan [1] - The recent increase in stake is intended to further explore cooperation in real estate distress resolution, restructuring, and asset management, aligning with Guangzhou Asset's strategic direction [1] Group 2: Market Performance - Yuexiu Property achieved a contract sales amount of 114.5 billion yuan in 2024, ranking 8th in the industry, and reported a sales figure of 61.7 billion yuan in the first half of the year, making it one of the few companies in the TOP 100 to see a year-on-year increase [2] - The company focused on the Guangdong-Hong Kong-Macao Greater Bay Area and key cities in East, Central-West, and Northern China, spending 10.5 billion yuan on land acquisitions in the first half of the year, with 3.4 billion yuan concentrated in the Greater Bay Area, ranking second in the industry [2] Group 3: Competitive Landscape - Yuexiu Property demonstrated strong competition for scarce land in core areas, winning a land bid in Hangzhou with a premium rate of 58.23%, totaling 1.1 billion yuan, setting a record for the area with a floor price of 39,146 yuan per square meter [2] - Despite a 15% decline in stock price this year, the total market capitalization stands at 17.3 billion HKD, with positive signals from recent government meetings aimed at stabilizing the real estate market [3]