Group 1 - The company held its 20th meeting of the 9th Board of Directors on July 18, 2025, to discuss significant matters including asset sales and shareholder meeting proposals [2][3][5] - The Board approved the proposal for the full subsidiary to sell part of the Quanzhou project assets for approximately RMB 205,268.94 million, including tax [3][12][18] - The sale aims to accelerate inventory clearance and optimize resource allocation, following guidance from local government departments [3][14][54] Group 2 - The transaction involves selling residential units, parking spaces, and ongoing construction projects to subsidiaries of Quanzhou Kaifeng Real Estate Group [12][14][41] - The sale price for the residential units and parking spaces is broken down into three agreements, with total prices of RMB 9,624.73 million, RMB 114,975.23 million, and RMB 80,668.98 million respectively [15][41][49] - The transaction is expected to contribute significantly to the company's revenue and net profit for the fiscal year 2024, with projected figures of RMB 188,320.13 million in revenue and RMB 16,303.33 million in net profit [54][55] Group 3 - The company plans to convene its first extraordinary general meeting of 2025 on August 5, 2025, to discuss the approved asset sale [59][60] - The meeting will utilize a combination of on-site and online voting methods for shareholders [60][63] - Shareholders must register for the meeting by August 1, 2025, and can delegate their voting rights to representatives [68][69]

Core Viewpoint - The company plans to sell part of its Quanzhou project, expecting to generate approximately RMB 20.53 billion in revenue from the transaction, which will significantly impact its 2024 audited operating income [1] Group 1: Transaction Details - The full subsidiary of the company, Quanzhou Shanshi Investment Development Co., Ltd., intends to transfer part of the products from the Shanshi Haishang project located in Fengze District, Quanzhou, Fujian Province [1] - The buyer of the transaction is a wholly-owned subsidiary of Quanzhou Kaisheng Real Estate Group Co., Ltd., specifically Quanzhou Zhenyuan Industrial Investment Co., Ltd. and Quanzhou Xinyuan Industrial Investment Co., Ltd. [1] - The total transaction price is approximately RMB 20.53 billion [1] Group 2: Financial Impact - The expected revenue from this transaction is projected to account for about 75.51% of the company's audited operating income for the year 2024 [1]