Core Viewpoint - The company is participating in the expansion of the Guotai Junan Chengtou Kuan Ting REIT, which focuses on affordable rental housing projects in Shanghai [1][2]. Group 1 - The company announced that its wholly-owned subsidiary, Shanghai Chengtou Housing Rental Co., Ltd., is the original rights holder initiating the establishment of the Guotai Junan Chengtou Kuan Ting REIT, which was listed on the Shanghai Stock Exchange on January 12, 2024 [1]. - The board of directors approved the proposal to participate in the expansion of the Guotai Junan Chengtou Kuan Ting REIT and to acquire new infrastructure projects [2]. - The company will use two rental housing projects located in Shanghai's Minhang District, namely the Pujiang Community and the Jiuxing Community, as underlying assets for the REIT expansion [2].

Core Viewpoint - The company has released its first quarter report for 2025, ensuring the accuracy and completeness of the financial information presented [3][12][17]. Financial Data Summary - The first quarter financial report is unaudited, and the company has made adjustments due to mergers under common control, with no net profit reported for the merged entities in the current and previous periods [3][7]. - The report includes a commitment from the board and management to the truthfulness of the financial data, with no significant non-recurring gains or losses identified [4][12]. Shareholder Information - The company has confirmed that there are no changes in the top ten shareholders or any significant transactions involving share lending during the reporting period [6][12]. Board and Supervisory Committee Meetings - The supervisory committee and board of directors held meetings on April 29, 2025, where all members were present, and all resolutions, including the approval of the first quarter report, were passed unanimously [10][17]. - The board also approved the disposal of certain financial assets and the establishment of a new international investment company with a proposed capital of 1 billion RMB [18].