Country Garden and Guangdong China Cooperation Development of Baiyangtan Business District, Liwan District, Guangzhou

　　Country Garden (02007) announced on March 23, 2024 that its indirect non -all -funded subsidiary Guangzhou Xingcheng Si and Guangdong Zhongwei and the project company Guangzhou Jinsi Real Estate Development Co., Ltd. signed a cooperation agreement to jointly build and develop Guangzhou property.

　　The project company holds Guangzhou’s property land use rights, with a term of 40 years (commercial, tourism and entertainment) and 50 years (comprehensive or other uses).According to the agreement, Guangzhou Xingcheng Si has provided the project company with 3.1 billion yuan in funds, and Guangdong Zhongzhong will provide more than 2.8 billion yuan in funds.

　　In order to obtain 1%stake in the project company in 60 days, Guangdong Zhong provides 94%of the equity of 10.3808 million yuan.The two parties will allocate the authority of building units and related sales funds based on the proportion of the commitment amount.

　　The project company obtained Guangzhou property through the open market in 2017 and obtained land use rights in 2018.The property located in the core area of the Baiyangtan Business District in Liwan District has a site area of 13,968 square meters, a plot ratio of 15, and a capacity of about 209,520 square meters.